Wall Street opens lower after Trump nominates Kevin Warsh as next Fed chair – as it happened
by Graeme Wearden from on (#737E2)
Rolling coverage of the latest economic and financial news
If Kevin Warsh is nominated as the next Fed chair, it could lower the risks of another major drop in the dollar, ING analysts suggest:
The dollar has been waiting for a catalyst for a recovery, and the news that Kevin Warsh is likely to be announced as the new Federal Reserve Chair nominee today offers exactly that.
Warsh has been amongst the most market-friendly candidates, as he is a former Fed governor with a history of hawkish views, especially on balance sheet reduction.
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