Prof G Markets Why Markets Aren’t Scared of Kevin Warsh
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Feb 3, 2026 
Mark Zandi, Moody’s Analytics chief economist, offers crisp takes on Kevin Warsh, Fed dynamics, and confirmation hurdles. Rich Greenfield, LightShed TMT analyst, explains Disney’s stock reaction, theme-park pressures, succession odds, and possible strategic splits. They also touch on M&A and why markets barely budged at the nomination.
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Markets Liked Warsh's Credentials
- Kevin Warsh is broadly viewed as a qualified, market-friendly Fed pick with crisis-era experience.
- Markets reacted modestly, signaling relief rather than fear about his nomination.
One Chair Won't Control The Fed
- Warsh is historically more hawkish, which contrasts with the president's desire for rate cuts.
- Yet Fed decisions are collective and likely to remain data-driven, limiting any single-chair politicization.
Watch The Confirmation Timeline
- Expect political hurdles in the Senate confirmation and watch for the DOJ matter to be resolved first.
- Monitor shifts in the White House stance because the president will likely pivot to secure a timely confirmation.