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President Trump nominates Kevin Warsh as the next fed president
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Trump praised him as “central casting”.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” said Trump in a Truth Social post announcing the selection. On top of everything else, he is “central casting,” and he will never let you down."
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Warsh has been one of the current fed’s critics, calling for a regime change last year July.
“The credibility deficit lies with the incumbents that are at the Fed, in my view,” he said during the July interview.
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Markets currently don’t expect much from him, predicting only two more cuts this year.
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His powers could be reduced by Powell staying on the board after his term as fed chair ends (to defend the fed’s independence) and the Supreme Court’s decision on the removal of Governor Lisa Cook.
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The Supreme Court already appears skeptical of Trump’s decision to remove Governor Cook.