Trump Nominates Kevin Warsh to Lead Federal Reserve as Markets React

Donald Trump nominated Kevin Warsh to succeed Jerome Powell as chair of the Federal Reserve when his term ends in May 2026.The nomination faces a challenge from Senator Thom Tillis, who pledged to block the process until a DOJ investigation into Jerome Powell regarding a $2.5 billion renovation is completed.Financial markets reacted to the announcement with the dollar strengthening while gold prices dropped 5% and silver plunged more than 13%.