Trump backs Kevin Warsh for Fed chair
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Wall Street's foundational financial institution is rife with red flags, and the stock market could pay the price.
President Trump selected Kevin Warsh as his Fed chair nominee days after the Federal Reserve kept interest rates unchanged for its first policy meeting of 2026.
Trump bemoaned last week his issue with naming the next Federal Reserve chair: The problem, he said, is they change once they have the job. Wall Street is counting on it.
WSJ Invest Live event features Citadel CEO Ken Griffin, Trian CEO Nelson Peltz and more.
Trump announced he would nominate Kevin Warsh to replace current Fed chair Jerome Powell in May when his term ends.
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.
The Federal Reserve on Wednesday gave little indication it's in a rush to ease monetary policy. Economists on the Street, however, remain hopeful.