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🇺🇸 SENSATION: President Donald Trump is preparing to nominate former Federal Reserve Governor Kevin Warsh as the next chair of the Fed, with a formal announcement expected on Friday morning.
Warsh — a former Fed insider and now a frontrunner among candidates for the top position — has seen his odds increase in prediction markets, and he is widely considered a likely choice for Trump.
Market reaction so far:
💵 The US dollar and bond yields have risen on speculation that Warsh could replace Powell, as investors factor in potential changes to future monetary policy.
This move signals a significant shift in Fed leadership, with implications for interest rates, liquidity expectations, and the broader macroeconomic situation — especially as traders prepare for tomorrow's announcement.