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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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Kevin M. Warsh, whom Mr. Trump tapped to become the next chair of the Federal Reserve, could face fierce resistance if he tries to pursue substantially lower borrowing costs.
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Stocks fall as investors weigh latest earnings, Warsh Fed chair pick; S&P 500 on pace for January gain: Live updates CNBCTrump names Kevin Warsh as his pick to replace Jerome Powell at the Federal Reserve CNNWarsh's Challenge: Navigating Fed Independence and Trump's Demands U.S. News & World ReportSen. Tillis will oppose Trump Fed chair pick Warsh until Powell probe resolved CNBC
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Warsh would replace current chair Jerome Powell when his term expires in May.
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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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Warsh, is a Stanford University graduate who earned his law degree from Harvard.
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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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President Trump and Senate Democrats reached a tentative deal to avert a disruptive government shutdown as the White House continues to negotiate with Democrats.
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President Donald Trump has selected Kevin Warsh to serve as the next chair of the Federal Reserve, putting a well-known critic of the U.S. central bank in its top job.
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President Donald Trump said he'll announce his nominee to chair the Federal Reserve on Friday morning — and prediction markets have turned sharply toward a former Fed governor for the post.
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GM's ability to walk such a tightrope has been easier to do when it can fall, if needed, onto $21.7 billion in cash to end 2025.
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