Trump’s Fed nominee, Kevin Warsh, is set to replace Jerome Powell if confirmed by the Senate.
This can matter massively for the US dollar and gold.
Warsh is currently undergoing Senate questioning, offering a glimpse into what we might expect from his leadership at the Fed.
Warsh has stated that he would like to see Fed officials stop making premature commentary on monetary policy, hinting at a shift toward a less transparent culture at the central bank.
He also expressed a desire for “big, robust deliberation” during Fed policy meetings. “I tend to favor messier meetings than some, where people don’t show up with rehearsed scripts, but we can have a good family fight,” he said. This comment suggests that Warsh may be more performative (and perhaps immature?) than Powell, valuing passion (and drama?) over careful deliberation.
Regarding whether he is being installed as Fed chair to help Trump lower rates, Warsh denied any pressure from Trump to do his bidding. However, when asked who won the 2020 election, Warsh avoided the question, instead offering the Trump-sycophantic reply that Biden was “certified” as the winner. Take that as you will.
What would you ask Warsh if you got the chance to grill him?
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