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$BTC Trump nominates Kevin Warsh as the new Federal Reserve Chair, market reacts sharply

On January 30 local time, Trump officially announced the nomination of former Federal Reserve governor Kevin Warsh as the next Federal Reserve Chair, replacing Powell, who will step down in May. The nomination requires Senate approval. The 55-year-old Warsh is the youngest governor in the history of the Federal Reserve and experienced the 2008 financial crisis, with policy positions aligning with Trump's calls for interest rate cuts.

Trump has previously criticized Powell for the slow pace of rate cuts, and this nomination is seen as a choice reflecting policy consensus. Following the news, U.S. stock futures fell, the dollar strengthened briefly, and spot gold and silver prices dropped sharply. The market is concerned about the potential divergence between Warsh's hawkish stance and expectations for rate cuts, as well as how he will balance inflation and employment. The nomination approval process and subsequent monetary policy direction remain to be observed.