March S&P 500 E-Mini futures (ESH26) are down -0.40%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.47% this morning after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best. On top of everything else, he is “central casting,” and he will never let you down,” Trump said on Truth Social. U.S. equity futures and Treasuries pared earlier losses following the announcement, with investors weighing how aggressively Warsh might cut interest rates. Earlier on Friday, Bloomberg reported that the Trump administration is preparing for the president to nominate Warsh as the next Fed chair. Warsh, who served as a policymaker from 2006 to 2011, frequently highlighted inflation risks even as others focused on supporting growth and employment during the financial crisis.
