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Kevin Warsh: The Former Fed Governor Poised for a Return to Power

  Kevin Warsh would replace current Fed chair Jerome Powell when his term expires in May, after U.S. President Donald Trump announced his nomination to the post on Friday.   Kevin Warsh, recently nominated by President Donald Trump to lead the U.S. Federal Reserve, is a familiar figure in American economic policy circles. Known for his blend of Wall Street experience and central‑bank expertise, Warsh’s return to the spotlight signals a potentially significant shift in the direction of U.S. monetary policy. Warsh previously served as a Federal Reserve governor from 2006 to 2011, a period defined by the global financial crisis. During that time, he acted as a key liaison between the Fed and major financial institutions, helping shape emergency responses during the most turbulent economic period in decades. Before joining the Fed, he worked as an executive at Morgan Stanley and served as an economic advisor in the George W. Bush administration. In the years since leaving the c...
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Wall Street Seeks First Gains of 2024 in Modest Pre-Market Trading

 

Wall Street is seeking its first gains of 2024, with the benchmark S&P 500 index ticking modestly higher in premarket trading on Thursday. The index has fallen in four of the past five sessions, as investors have grown increasingly cautious about the U.S. central bank’s expected pivot to rate cuts this year and how quickly these might be implemented. While the Fed is widely expected to keep rates on hold in January, traders have priced in a 67% chance of a 25 basis point rate cut in March, as per CMEGroup’s FedWatch tool. The Toronto Stock Exchange’s S&P/TSX composite index ended down 53.56 points, or 0.3%, at 20,818.58 on Wednesday.

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