Trump has tapped a new Federal Reserve chair. Has he finally found his yes-man?

Donald Trump has nominated Kevin Warsh to be the next Federal Reserve chair, replacing Jerome Powell when his term expires in May. This comes after Trump publicly criticized Powell for not lowering interest rates and perceived disloyalty. Warsh, a former Fed governor, is considered a "hawkish" candidate, favoring policies that prioritize controlling inflation, even if it risks increased unemployment. Trump expressed confidence that Warsh would be a loyal and effective leader of the central bank, contrasting sharply with his current view of Powell. The announcement was met with stability in global markets and positive reactions from some within the central banking community. The nomination signals Trump's desire for a Fed chair more aligned with his economic policies.

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