00:00In a move that's already shaking global markets and reigniting a long-running political fight
00:25over the US central bank, President Donald Trump has nominated Kevin Warsh to become
00:32the next chair of the Federal Reserve.
00:36Gold is sliding, crypto is crashing, and investors are asking one big question.
00:42Is Kevin Warsh the Fed chair Trump can finally control?
00:48So who exactly is Kevin Warsh and why does his name matter so much right now?
00:55Warsh is no outsider.
00:57He's a former Wall Street banker, a Harvard-trained lawyer, and one of the youngest Federal Reserve
01:03governors in history, appointed at just 35 years old.
01:10Born in Albany, New York, with no major political connections, Warsh built his career the old-fashioned
01:16way.
01:17Stanford for public policy, Harvard Law for economics and regulation, then straight into Morgan Stanley,
01:24making high-stakes mergers and acquisitions during the late 1990s boom.
01:31His real rise came inside government.
01:34Under President George W. Bush, Warsh served as a top economic advisor at the White House,
01:40before joining the Federal Reserve Board in 2006.
01:44And then, everything broke.
01:48When the 2008 financial prices hit, Warsh became a key bridge between the Fed and Wall Street,
01:54helping manage the collapse of major banks and the most severe economic shock since the
01:59Great Depression.
02:01That experience still defines him today.
02:06Fast forward to now.
02:08On January 30th, 2026, Trump announced Warsh as his pick to replace Jerome Powell, whose term
02:15ends in May.
02:16Did Kevin Warsh admit to you that he will push to cut interest rates if he is confirmed?
02:21No.
02:22But we talk about it.
02:23And I've been following him.
02:24And I don't want to ask him that question.
02:26I think it's inappropriate, probably.
02:28It probably would be allowed, but I want to keep it nice and pure.
02:32But he certainly wants to cut rates.
02:34I've been watching him for a long time.
02:37But here's the catch.
02:38Warsh is not yet Fed chair.
02:41He still needs Senate confirmation.
02:43And that process could get messy, especially with an ongoing Justice Department investigation
02:49surrounding Powell and rising political tensions over Fed independents.
02:54Still, with Republicans holding the Senate, confirmation is widely expected.
03:02Markets didn't wait.
03:03Almost immediately after the nomination, gold dropped more than 10 percent, silver plunged
03:09even harder, cryptocurrencies sold off sharply, and the U.S. dollar surged.
03:16Investors are pricing in a major shift in how the Federal Reserve might operate.
03:22To understand why, you have to understand Trump's feud with Jerome Powell.
03:27Despite appointing him in 2018, Trump spent years attacking Powell publicly, calling him
03:34too late, a major loser, and accusing the Fed of sabotaging economic growth by keeping
03:40interest rates too high.
03:42Trump wanted deep, aggressive rate cuts, even outside of recessions.
03:48Powell refused, repeatedly.
03:51And he defended the Fed's independence, saying decisions must be based on data, not politics.
03:59So where does Kevin Warsh fit into this?
04:02Trump reportedly regrets not choosing Warsh in 2017.
04:06And recently, Warsh's tone has changed.
04:09He's criticized the Fed's reliance on economic models, called for what he describes as regime
04:15change at the central bank, supported faster rate cuts, and downplayed inflation risks tied
04:21to tariffs.
04:22That's raised eyebrows.
04:27Because historically, Warsh was known as an inflation hawk, someone who favored tighter
04:32policy and once warned the Fed against moving too fast.
04:37Some analysts now call him a chameleon.
04:40Others say he's a serious institutional figure who knows when to bend and when not to break.
04:48If confirmed, Warsh steps into one of the hardest jobs in the world.
04:52He'll need to prove the Fed isn't becoming political, navigate a divided Federal Open Market
04:58Committee, balance inflation risks, slowing growth, tariff pressures, and global instability.
05:05And every move he makes will be watched, by markets, by Congress, and by the White House.
05:11So the real question isn't just whether Kevin Warsh becomes Fed chair.
05:15It's whether he becomes Trump's Fed chair, or the Federal Reserve's credibility.
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