Bloomberg Daybreak: US Edition Instant Reaction: Trump Nominates Warsh for Fed Chair
Jan 30, 2026
Dan Curtis, Bloomberg markets reporter who tracks immediate moves in dollar, bonds, equities and gold. Michael McKee, international economics and policy correspondent with Fed nomination expertise. They discuss Kevin Warsh’s surprise return to Fed leadership, his ties to the White House and policy leanings. Markets react fast with rising yields and shifting asset prices.
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Warsh Is The President's Pick To Replace Powell
- Kevin Warsh is President Trump's announced nominee to succeed Jay Powell as Fed Chair.
- The pick revives a previously considered candidate who remained close to the president and GOP donors.
Hawkish Reputation Meets Recent Dovish Rhetoric
- Markets and commentators worry Warsh's hawkish past could mean higher rates.
- Warsh recently argued growth drivers could allow lower inflation, making him more palatable to the White House.
Market Moves Reflect Hawkish Expectations
- Bond yields and the dollar moved on expectations of a hawkish Fed chair.
- Equities fell partly because of broader White House risks beyond the Fed pick.