🚨 Official nomination for the Federal Reserve presidency shakes the markets! 🇺🇸
Trump announced the nomination of Kevin Warsh to be the next president of the Federal Reserve, succeeding Jerome Powell, and described him as a "perfect choice".
📊 Market reaction:
💵 The US dollar: rose
📉 Gold and silver: fell
🔹 Markets expect a potential interest rate cut and tightening in shrinking the balance sheet.
🔹 Warsh was previously described as a "hawk", but he is now classified as a "dove", a relatively safe choice for financial institutions.
💡 Summary:
Warsh is the expected president of the Fed … but upcoming decisions could reshape the global financial landscape. 🌍💸