Federal Reserve
Trump nominates Kevin Warsh for Fed chair as markets close lower
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President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair, leading to declines in Wall Street and a weakening of the Mexican peso on January 30, 2026. Investors reacted cautiously to Warsh's profile, seen as an inflation hawk. Despite daily losses, markets posted positive monthly gains.
Seoul's stock market opened sharply lower on February 2 due to risk-averse sentiment following the nomination of a new U.S. Federal Reserve chair. The KOSPI index fell 1.05% in the first 15 minutes and was down 3.47% by 11:20 a.m. Investors offloaded tech heavyweights, particularly major semiconductor makers.
Reported by AI
President Donald Trump has nominated former Federal Reserve governor Kevin Warsh to replace Jerome Powell as the central bank's chairman. The announcement, made on Friday via Truth Social, praises Warsh as a potential great leader for the Fed. Warsh requires Senate confirmation to assume the role when Powell's term ends in May.
The Trump administration has launched a criminal investigation into Federal Reserve Chair Jerome Powell, accusing him of lying to Congress about headquarters renovations. Powell calls the allegations pretexts to force interest rate cuts. The probe escalates tensions as the Supreme Court prepares to hear a related case on Fed independence.
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Building on bitcoin's volatility after the Federal Reserve's December 2025 rate cut—which spiked prices above $94,000—crypto markets in early 2026 are buzzing with optimism. Traders are embracing the mantra 'Run it hot,' betting on bold Fed actions under pressure from President Donald Trump. Recent surges to nearly $95,000 have yielded to drops amid geopolitical concerns, but expectations of further rate cuts and asset purchases fuel hopes for a boom, with analysts predicting bitcoin could hit $200,000 or $1 million by early next year.
As 2025 draws to a close, commentators on Slate’s What Next podcast say the U.S. economy under President Donald Trump shows signs of losing momentum, even as prices remain high. They argue that tariffs and policy uncertainty are adding to economic pressures and complicating the Federal Reserve’s interest rate decisions.
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Bitcoin traded below $89,000 on December 14, 2025, erasing gains from the Federal Reserve's recent rate cut as markets braced for the Bank of Japan's policy meeting. Traders cited concerns over a potential yen carry trade unwind and upcoming U.S. economic data. Ether showed weekly strength, while most altcoins declined.
Precious metals crash sharply while bitcoin holds steady
January 30, 2026 01:09Trump nominates Kevin Warsh for Fed chair, sparking bitcoin concerns
January 28, 2026 19:49Hong Kong central bank holds rate steady following Fed decision
January 21, 2026 17:31Supreme Court shows skepticism toward Trump's bid to fire Fed governor
January 20, 2026 04:56Bitcoin risks dropping to $58,000 amid Fed policy and trade tensions
January 09, 2026 08:48U.S. job growth slows to 50,000 in December with unemployment at 4.4%
January 04, 2026 23:15The Federal Reserve faces a decisive year amid Trump's attacks
January 02, 2026 15:13Bitcoin stays range-bound amid positive macro news
December 20, 2025 06:39Crypto market rallies on optimism for santa claus rally
December 18, 2025 12:07Federal Reserve rescinds Biden-era crypto guidance