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Kevin Warsh, a New Chair of the Federal Reserve Trump has announced Kevin Warsh as his nomination for the next chair of the Federal Reserve, selecting a candidate who has been an outspoken critic of the US central bank. The move ends months of speculation about who the president would pick to replace Jerome Powell, as he waged an extraordinary campaign to influence policymaking at the Fed by repeatedly calling for interest rate cuts. Powell’s second term as chair is due to end in May. Writing on his Truth Social platform, Trump said: “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.” Warsh, 55, a former Federal Reserve governor who has deep ties to Wall Street, had previously interviewed for the job of chair in 2017 when the role went to Powell, whose term ends in May. Trump’s pick will have to be confirmed by the Senate. Mark Carney, the Canadian prime minister and former governor of the Bank of England, said in a social media post that Warsh is “a fantastic choice to lead the world’s most important central bank at this crucial time”. The dollar strengthened early on Friday after it was reported that Warsh was expected to be Trump’s choice, but then eased back after the nomination. Gold fell by 4.8% to $5,132 an ounce. Wall Street opened slightly lower. Warsh has warned about inflation risks in the US in the past, but has also echoed Trump’s critique of the Fed for being too slow to cut interest rates. High interest rates can alleviate inflation at the risk of upping unemployment. Rates are currently at a range of 3.5% to 3.75%, which most economists at the Fed currently see as neutral to prices and unemployment. Since resigning from the central bank in 2011 over its post-financial crisis stimulus package, Warsh has criticised it publicly on multiple occasions. In April last year, he issued a stinging attack, saying the institution’s central bankers should not be treated as “pampered princes” and it too regularly “opines on matters outside its remit” which has led to “systemic errors” in its main role of trying to keep prices stable. Warsh has been a longtime critic of the ultra-loose monetary policy pursued by the Fed since the financial crisis, including the central bank’s expanded balance sheet. He had previously been seen as a monetary policy hawk, but appears to have aligned himself with the White House’s push for lower borrowing costs. #chair#federal#reserve#trump#carney 📱American Оbserver - Stay up to date on all important events 🇺🇸

Federal Reserve Chair Jerome Powell Faces a Stiff Challenge Justice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal Reserve. The independence and credibility of America’s central bank is under threat after the Department of Justice opened a criminal investigation into Federal Reserve chair Jerome, knocking the US dollar. In a startling development, US prosecutors have launched a criminal investigation into Powell over a $2.5bn renovation of the Federal Reserve’s headquarters, and into his testimony about the project to the Senate banking committee in June last year. The move is a dramatic escalation in the long-simmering tensions between the Fed and the Trump White House, with the US president repeatedly rubbishing Powell for not cutting interest rates more quickly. After news of the investigation broke last night, Powell came out fighting, insisting that he had been threatened with criminal charges because the Fed had set interest rates “based on our best assessment of what will serve the public, rather than following the preferences of the president”. #federal#reserve#chair#powell#investigation 📱American Оbserver - Stay up to date on all important events 🇺🇸

Cardano's Founder Surprised by Trump's Plans Charles Hoskinson, founder of Cardano, stated he was unaware of Donald Trump's intention to include ADA in the U.S. national crypto reserve. Following the announcement, ADA outperformed XRP and SOL, leading in weekly growth. Trump revealed the reserve details in a Truth Social post, stating it will include XRP, SOL, and ADA as part of a strategic crypto initiative. Concerns about insider trading have arisen within the community regarding asset selection for the reserve. Bitcoin and Ethereum are also set to be integral to the reserve. #ADA#XRP#SOL#Crypto#Trump#Bitcoin#Ethereum#News#Blockchain#Trading#Market#Reserve#InsiderTrading#CryptoReserve#DigitalAssets#VC#AI

Crypto Reserve Plans Unfold in US David Sacks, a key crypto official, emphasizes Bitcoin as a strategic reserve asset for the U.S. He clarified Trump's crypto reserve mentions—XRP, Solana, Cardano—are simply due to their market cap. The government might consider lending or staking its crypto assets, with the Treasury overseeing strategies. Meanwhile, China eyes a Bitcoin reserve strategy following the U.S. model, with officials reportedly convening post-2024 elections to discuss their Bitcoin holdings, amounting to 194,000 BTC from confiscations. For further details, visit: The Block and Watcher Guru #Bitcoin#Crypto#US#China#Reserve#Treasury#XRP#Solana#Cardano#Assets#Investment#Economy#Finance#DigitalAssets#CryptoAssets#Blockchain#MarketCap#VC

Trump Announces National Crypto Reserve 🇺🇸 President Trump announces plans for a U.S. national crypto reserve, including assets like XRP, SOL, and ADA. He established a presidential working group to strategize this reserve. The announcement has sparked controversy, with accusations of insider trading and mixed opinions on asset choice. Bitcoin and Ethereum will also play significant roles in the reserve. Read more details here. #Crypto#XRP#Bitcoin#Ethereum#SOL#ADA#US#Reserve#InsiderTrading#Blockchain#Trump#Finance#Investments#VC#Regulation#DigitalAssets#Stablecoins#PaymentSystems

Trump Announces U.S. Bitcoin Strategic Reserve 🚨 President Trump signs an Executive Order to create a Strategic Reserve of Bitcoin. Key points: - Executive action allows acquisition of Bitcoin only through confiscated funds. - Full audit of digital assets held by the government mandated. - Coinbase CEO believes G20 nations will follow U.S. leadership in Bitcoin reserves. - Senator Lummis claims U.S. is becoming the Bitcoin capital of the world. Market impact: $225M liquidated in crypto markets shortly after the news. For more details, see the post here: Leviathan News #Bitcoin#Crypto#VC#US#Trump#Lummis#ExecutiveOrder#Reserve#Blockchain#DigitalAssets#CryptoMarket#G20#Coinbase#Regulation#XRP#ADA#ETH#SOL

Trump Signs Executive Order for Bitcoin Reserve Former President Trump has officially signed an Executive Order to establish a Strategic Bitcoin Reserve, utilizing Bitcoin obtained from forfeitures. This reserve will hold Bitcoin as a store of value without taxpayer funding, while a U.S. Digital Asset Stockpile will manage other digital assets. Bitcoin prices reacted negatively following the announcement. More details can be found here: link #Bitcoin#BTC#Crypto#DigitalAssets#US#Reserve#Trump#Blockchain#Treasury#Forfeiture#Investment#Value#Market#Texas#Assets#ExecutiveOrder#Strategy#Regulation#Innovation#Finance

Illinois Considers Bitcoin Strategic Reserve Bill Illinois State Representative proposes a bill to create a Bitcoin Strategic Reserve, aimed at purchasing 200,000 BTC annually for five years and holding it for at least 20 years to significantly reduce the US national debt. In related news, Tesla confirms no Bitcoin sales in Q4 2024, while USDC Treasury burns over $67 million in USDC, further highlighting the evolving cryptocurrency landscape. #Bitcoin#USDC#Crypto#Illinois#Tesla#Regulation#DollarDebt#Reserve#BitcoinReserve#Finance#Investment#CryptoNews#Blockchain#Economy#Market#DigitalAssets#WhaleAlert#AssetManagement

Texas Approves Bitcoin Reserve Bill Texas Senate passes SB21 bill to establish a state Bitcoin reserve, marking Texas as the first U.S. state to officially recognize Bitcoin as a strategic asset. Details on implementation and reserve volumes remain unclear. Read more: Watcher Guru #Texas#Bitcoin#Crypto#Blockchain#Legislation#Innovation#Asset#Reserve#SB21#US#CryptoNews#Finance#Web3#Equity#Investment#Government#Policy#Market#Regulations#VC#AI

U.S. Bitcoin Reserve Announced by Trump President Trump establishes a U.S. Strategic Bitcoin Reserve using forfeited assets, ceasing prior sales of confiscated Bitcoin. Current U.S. holdings include about 200,000 BTC, with only 86,000 BTC available for reserves. Crypto markets react as Bitcoin price drops $5,000. The reserve aims to act as a digital savings medium without taxpayer costs. For further details, read the full story here: Axios. #Bitcoin#Crypto#VC#Trump#Reserve#Bitfinex#Blockchain#Government#Assets#CryptoMarket#DigitalAssets#StrategicReserve#Forfeited#Volatility#MarketReaction#InvestorNews#USeconomy

Texas Proposes State Bitcoin Reserve Texas Senator Charles Schwertner proposes a bill for a Strategic Bitcoin Reserve, indicating a significant move towards cryptocurrency adoption at the state level. Meanwhile, Bitcoin mining difficulty reaches an all-time high over 110 trillion, showing robust hashrate growth post-China mining ban. Details from Watcher Guru. #Bitcoin#Texas#Crypto#Mining#Blockchain#Regulations#Reserve#Senate#Innovation#Finance#DigitalAssets#Investment#Altcoins#HODL#Hashrate#MiningDifficulty#TexasSenate#Bill#Legislation#VC

Key Crypto Events Coming March 7th March 7th features key announcements: US unemployment rate for February, Powell's speech, and Trump's cryptocurrency summit at the White House. Coinbase CEO Brian Armstrong supports a US crypto reserve focused on Bitcoin. Notably, a transfer of 1,241 BTC (about $116.97 million) occurred between unknown wallets. Follow the updates! sourcetransaction details #Crypto#BTC#US#Trump#Coinbase#Reserve#BrianArmstrong#Powell#Unemployment#WhaleAlert#Bitcoin#Blockchain#Investment#Finance#Summit#March7#MarketNews#CryptoRegulation#DigitalAssets#Tech