News

EUR/USD fell by 0.5% intraday to 1.1728. USD/CHF rose by 0.5% intraday to 0.7821. USD/JPY rose by 0.5% intraday to 159.59.

2. He called for a series of changes affecting the decision-making approach of the US central bank, including a new framework for tackling inflation and a new method of communication with the public. 3. Walsh stated that Trump never asked him to commit to any specific interest rate decisions. 4. Walsh pledged to sell his financial assets in accordance with the agreement reached with the Office of Government Ethics.

According to Odaily, Federal Reserve Chair nominee Kevin Warsh faced questions in the Senate Banking Committee confirmation hearing about his financial disclosure exceeding 100 million US dollars, potential conflicts of interest, and the independence of the Federal Reserve. Senator Elizabeth Warren questioned whether he might give special accounts to the Trump family’s crypto company or offer bailouts to Wall Street. Kevin Warsh stated that his holdings include cryptocurrencies and AI companies, and pledged that, if his nomination is approved, he would divest these assets before taking office. Regarding cryptocurrencies, Kevin Warsh said digital assets are a part of the US financial services industry. He also denied that Trump had ever asked him to commit to any specific rate decision. Currently, Jerome Powell's term will end on May 15, and Polymarket users predict there is a 78% probability Warsh's nomination will be approved before June.