The U.S. dollar strengthened, signaling the market's approval of Warsh's credibility and perceived autonomy, but safe-haven assets gold and silver plummeted.

Former Fed Governor Kevin Warsh is by far the favorite, according to prediction market Kalshi.

Trump’s pick follows his attacks on current Fed Chair Jerome Powell, who this week paused cuts to interest rates despite pressure from the president.

Investors see the former Fed governor as a credible steward of monetary policy despite expectations he may push for lower rates.

The U.S. dollar strengthened, signaling the market's approval of Warsh's credibility and perceived autonomy, but safe-haven assets gold and silver plummeted.

The U.S. dollar strengthened, signaling the market's approval of Warsh's credibility and perceived autonomy, but safe-haven assets gold and silver plummeted.

Analysts flagged U.S. President Donald Trump’s nomination for the next chair of the Federal Reserve as a key trigger to the latest market downturn.

U.S. Treasury yields were lower Monday as market watchers continued to weigh President Donald Trump naming Kevin Warsh as his pick for the next Fed chair.

Warsh was for being tight on interest rates in 2007 and being loose now. Let's just note it as an oddity and not castigate.