THE NEXT FED CHAIR COULD BE DECIDED TODAY.
Kevin Warsh is testifying before the Senate right now as Donald Trump’s pick to replace Jerome Powell.
Powell’s term ends in 24 days and Kevin Warsh is the first nominee to replace him.
Trump wants lower interest rates and has openly attacked Powell. The Senate wants proof Warsh will act independently.
Thom Tillis is blocking the confirmation unless the DOJ drops its investigation into Powell.
Warsh is stuck in the middle. He has to satisfy Trump, convince the Senate, and avoid looking political, all at the same time.
If he’s not confirmed by May 15, Powell stays temporarily.
Trump has already threatened to fire him.
Today's decision will shape interest rates, liquidity, and risk across every asset.