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Sen. Thom Tillis on Friday reiterated his intent to hold up President Trump's pick for Fed chair until the Justice Department ends its criminal probe of Jerome Powell.
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The nomination of Kevin Warsh "avoids a lot of the worst-case scenarios, but it's still unclear what impact he will have on rates," one strategist said.
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Federal Reserve governor Chris Waller, who was one of President Donald Trump's finalists as the next central-bank chief, said Friday that the Fed should have cut interest rates this week because of a poor U.S. job market.
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The Wall Street veteran once held hawkish views on interest rates but has recently signaled a stance more in line with the president's public demands.
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Trump plans to nominate Kevin Warsh to be the next chair of the Federal Reserve, when Jerome Powell's term expires in May. The president has been pushing the central bank to slash interest rates.
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President Donalf Trump nominates Kevin Warsh as new Fed chair, potentially affecting interest rates and the economy
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