President Donald Trump on Friday unveiled his choice to succeed Jerome Powell as chairman of the Federal Reserve Board of Governors.
“I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM,” Trump posted on Truth Social.
Warsh “has the respect and credibility of the financial markets,” David Bahnsen, chief investment officer of The Bahnsen Group, said, according to CNBC.
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“There was no person who was going to get this job who wasn’t going to be cutting rates in the short term. However, I believe longer term he will be a credible candidate,” Bahnsen said.
Bahnsen referred to Trump’s desire to lower interest rates to spur further economic activity, which Powell
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