Trump administration prepares for Kevin Warsh Fed Chair nomination

Core Viewpoint - The Trump administration is preparing to nominate Kevin Warsh as the next Federal Reserve chair, with a formal announcement expected soon [8]. Group 1: Nomination Details - President Trump plans to announce his pick for the Federal Reserve chair on Friday morning, with the selection not being final until the formal announcement is made [8]. - Warsh, a former Fed governor, is one of four finalists on Trump's shortlist, having visited the White House recently [2][8]. - Other candidates considered include Kevin Hassett, Christopher Waller, and Rick Rieder [5][8]. Group 2: Market Reactions - Following the speculation of Warsh's nomination, stocks fell, Treasury yields increased, the US dollar gained, and precious metals declined [4][8]. - Prediction markets showed a surge in bets on Warsh being chosen earlier on the same day [5]. Group 3: Warsh's Background and Alignment - Warsh served on the Federal Reserve's Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy [6][8]. - If confirmed, Warsh would succeed Jerome Powell, whose term ends in May [8]. - Warsh has recently aligned with Trump's views advocating for lower interest rates, contrasting his previous reputation as an inflation hawk [6][8].