Bloomberg Daybreak: Asia Edition Instant Reaction: Trump Nominates Warsh for Fed Chair
Jan 30, 2026
Dan Curtis, markets commentator tracking FX, commodities and asset reactions. Michael McKee, international economics and policy correspondent with Fed expertise. They discuss Kevin Warsh’s nomination, market moves in stocks, yields and the dollar, and how Warsh’s past Fed stance compares with recent signals and confirmation hurdles.
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Markets Brace For A Hawkish Fed
- Kevin Warsh is seen as more hawkish based on his Fed tenure and reluctance to cut rates during the financial crisis.
- Markets priced that possibility with rising yields and a firmer dollar ahead of the announcement.
Policy And Geopolitics Add Market Risk
- Broader geopolitical and policy risks also weighed on equities beyond the Fed nomination.
- Michael McKee highlighted Iran tensions, Cuba blockade, and tariffs as compounding market uncertainty.
Nominees Evolve With Circumstances
- Fed chairs adapt to circumstances, so a nominee's past record may not fully predict future actions.
- Tom Keene noted historical examples like Greenspan and Bernanke to illustrate evolving presidencies.