What is sort of technically your last 24 hours as a Fed governor. Your term is up tomorrow, but you're staying on. Thanks for having me back.It's good to see you again. Look, as you say, my term expires over the weekend. But per the Federal Reserve Act, I will be staying in my seat until someone is confirmed to replace me, presumably Chairman designate Kevin Warsh.This is common practice and has happened many times by other governors who have waited for someone else to be confirmed into their seat. Now the ...

Market Overview - Bitcoin remained stable at $83,873, increasing by 0.2% on the day, while gold and silver prices experienced significant declines, with gold dropping nearly 9% to $4,877 per ounce and silver plunging 28% to $82 per ounce [1] - The CBOE Gold ETF Volatility Index surged to 46.02, the highest since March 2020, and the Cboe Silver ETF Volatility Index peaked at 123.03, marking a record high since its launch in 2011 [2] Interest Rate Expectations - The recent market movements indicate that traders have rapidly adjusted their expectations regarding interest rates and liquidity, which typically impacts precious metals negatively [3] - The selloff in precious metals coincided with President Trump's nomination of Kevin Warsh to replace Fed Chairman Jerome Powell, which has implications for monetary policy [3][4] Cryptocurrency Sentiment - Bitcoin's trading range on Friday was between approximately $82,000 and $84,000, following a sharp decline from $88,000 to nearly $81,000 [5] - Market sentiment among Bitcoin users is mixed, with a 57.5% probability of Bitcoin rising to $100,000, while skepticism remains high as indicated by the Crypto Fear & Greed Index, which dropped to 16, the lowest level since the beginning of the year [6][7]

Kevin Worsh is a former Fed governor, has a reputation as a bit of a maverick. He believes basically that the Fed needs kind of a house cleaning. >> This isn't the first time you've heard me in the last decade say we need regime change at the Fed.It's not just about a person. It's about an approach to economics. It's about approach to what they're doing.And I'm troubled when I see them moving the goalposts. >> Not just Trump, but other administration officials. They want to see somebody go in there and just ...

>> I AM KATIE GREIFELD. BLOOMBERG REAL YIELD STARTS RIGHT NOW. KATIE: COMING UP, PRESIDENT DONALD TRUMP ANNOUNCES HIS LONG ANTICIPATED PICK TO LEAD THE FEDERAL RESERVE AS ONE KEY REPUBLICAN LAWMAKER DOUBLES DOWN ON HIS COMMITMENT TO BLOCK THE PRESIDENT'S BID.JANUARY HIGH-GRADE SALES COME IN AS ONE OF THE BUSIEST MONTHS, EVER. WE BEGIN WITH THE ISSUE. THE FUTURE OF THE FED UNDER KEVIN WARSH.>> INVESTORS KNOW HIM. THEY ARE COMFORTABLE WITH HIM. >> I THINK THE PRESIDENT HAD ARRANGE A OF BETTER CHOICES. I THINK ...

Core Viewpoint - President Donald Trump has nominated Kevin Warsh to be the next chairman of the Federal Reserve, which may lead to a contentious confirmation process in the Senate [1] Group 1: Nomination and Background - Kevin Warsh, aged 55, previously served on the Federal Reserve Board of Governors from 2006 to 2011 and was considered for the Fed chair position when Trump nominated Jerome Powell in 2017 [1] - Jerome Powell was confirmed in a bipartisan manner and reappointed during the Biden administration in 2022, but his term is set to expire in May [2] Group 2: Political Reactions - Some Republican senators have expressed concerns about the nomination process, with one senator vowing to block any Fed nomination unless the Department of Justice (DOJ) drops its investigation into Powell [5][12] - Senate Banking Chair Tim Scott emphasized the importance of accountability and credibility in the Federal Reserve, stating that Warsh's nomination reflects this focus [7][8] - Senator Elizabeth Warren criticized the nomination, suggesting that Warsh's loyalty to Trump was prioritized over the Fed's independence [10] Group 3: Support and Criticism - Senator Thom Tillis acknowledged Warsh's qualifications but reiterated his opposition to any Fed nominee until the DOJ's inquiry into Powell is resolved [12][13] - Senator Cynthia Lummis expressed the need for the Federal Reserve to embrace digital assets and innovation, supporting Warsh's nomination [16] - Senator Dave McCormick praised Warsh as a suitable candidate to fulfill the Fed's mandate of maintaining inflation control while promoting growth and job opportunities [18]

>> WHERE WE ARE RIGHT NOW IS A MARKET THAT HAS A LOT OF EXPECTATIONS BAKED IN. >> EARNINGS ARE AT A RECORD HIGH AND GOING HIGHER. >> IT IS SHOWING TOPLINE GROWTH.>> EARNINGS GROWTH WILL BE THE LIFELINE GOING FORWARD. >> STOCK PRICE FOLLOWS EARNINGS. >> THIS IS "BLOOMBERG SURVEILLANCE" WITH JONATHAN FERRO, LISA ABRAMOWICZ, AND ANNMARIE HORDERN.JONATHAN: LIVE FROM NEW YORK CITY THIS MORNING, GOOD MORNING, GOOD MORNING. FOR OUR AUDIENCE WORLDWIDE, "BLOOMBERG SURVEILLANCE" STARTS RIGHT NOW. COMING INTO FRIDAY, ...

Market Reaction - Gold prices fell by as much as 10%, dropping from $5,500 to around $5,136 per ounce following the news of Kevin Warsh's nomination as the next chair of the Federal Reserve [1][6] - Silver prices declined by up to 20%, decreasing from $120 to around $103 per ounce [1][6] Economic Context - Gold and silver had previously surged to record highs due to investor demand driven by concerns over inflation, rising government debt, and political pressure on the Fed [2] - Precious metals are typically viewed as safe havens, particularly when there are fears that the Fed might cut interest rates sharply [2] Nominee Profile - Kevin Warsh has a hawkish track record from his tenure as a Fed governor from 2006 to 2011 and is expected to maintain the Fed's independence [3] - Warsh's background includes experience in investment banking at Morgan Stanley and involvement during the great financial crisis, which is seen as a valuable pedigree for the role [4] Implications for Investors - The nomination of Warsh is perceived to alleviate concerns among businesses and investors, as higher interest rates generally favor yield-producing assets over non-yielding hard assets like gold and silver [6] - The ongoing criminal investigation into current Fed chair Jerome Powell may also impact investor confidence and the overall financial landscape [12][13]

Bitcoin is sinking closer to its April tariff lows. A boost from easing monetary policy might help, but investors are cautious right now. ...

This Fed horse race has swung a bunch of different ways since the process began last September. Kevin Walsh is a former Fed governor, has a reputation as a bit of a maverick. He believes, basically that the Fed needs kind of a housecleaning.This isn't the first time you've heard me in the last decade say we need regime change at the Fed. It's not just about a person. It's about an approach to economics. It's about approach to what they're doing.And I'm troubled when I see them moving the goalposts. He's mos ...

Key Takeaways President Donald Trump has selected former Federal Reserve Governor Kevin Warsh as his nominee to be the next chair of the Federal Reserve after Jerome Powell's term ends in May.Warsh has argued for lower interest rates, and as Fed chair, will be in a position to influence them. President Donald Trump has selected former Federal Reserve Governor Kevin Warsh to be the next chair of the central bank.Warsh, who served as a Fed governor between 2006 and 2011, beat out several finalists for the ...