00:00It's Benzinga bringing Wall Street to Main Street
00:02President Donald Trump named Kevin Warsh on Friday to succeed Jerome Powell as Federal Reserve
00:07Chair, according to CNBC. Trump announced the pick on Truth Social, praising Warsh and saying
00:13he expects him to be one of the greatest Fed chairs. The White House decision follows years
00:17of Trump pressuring the Powell-led Fed to cut interest rates, including criticism over a
00:22Washington renovation project that later drew a Justice Department subpoena. Warsh previously
00:27called for regime change at the Fed in a CNBC interview and questioned the institution's
00:33credibility. Market participants expect limited near-term impact, with traders pricing at most
00:38two additional rate cuts this year. Warsh now faces a confirmation process complicated by
00:43political opposition and ongoing scrutiny of Fed independence. For all things money, visit Benzinga.com.
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