Trump taps Wall Street vet Kevin Warsh to lead Fed
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The top Democrat on the Senate Banking Committee, Elizabeth Warren of Massachusetts, said in a social-media post that Warsh, who served as a Fed governor during the global financial crisis, "cared mor
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Stock market today: Dow, S&P 500, Nasdaq futures slide as Wall Street eyes Warsh as Trump's Fed pick
US stock futures traded lower on Friday as President Trump nominated President nominated Kevin Warsh to lead the Federal Reserve, after the dollar rose and gold tumbled amid earlier reports of the move.
The Federal Reserve on Wednesday gave little indication it's in a rush to ease monetary policy. Economists on the Street, however, remain hopeful.
Though the Fed is often viewed as a stabilizing force for Wall Street, it may represent the stock market's undoing in the new year.
He lacks the grounding of other leading candidates such as current Fed governor Chris Waller, who has a PhD in economics. He does, though, possess extensive experience across Wall Street and in high-profile economic policy roles.