Overview
- The White House nominee faces a Senate vote expected before Jerome Powell’s final day on May 15.
- Warsh served on the Federal Reserve Board from 2006 to 2011 and voted on policy during the financial crisis.
- He has voiced distaste for the Fed’s roughly $6.7 trillion in assets after years of large-scale bond buying.
- Yahoo Finance warns the pick could test a rally powered by AI advances and record S&P 500 share buybacks.
- Cutting the Fed’s asset holdings tends to drain market liquidity and can lift longer-term borrowing rates.