From Quartz.

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President Donald Trump named Kevin Warsh as his pick to lead the Federal Reserve, a move markets view as limited in near‑term policy impact. Barclays and Morgan Stanley expect two interest rate cuts this year, maintaining their base cases after the announcement. Barclays’ Marc Giannoni said any attempt by Warsh to add cuts would meet “resistance” in a divided FOMC. The Fed held steady at its late‑January meeting, citing solid economic activity and somewhat elevated inflation. Barclays projects Senate confirmation by May 15, with cuts in June and December, while Morgan Stanley sees operations unchanged near term. Warsh is known as an inflation hawk and backs shrinking the Fed’s balance sheet; Sen. Thom Tillis has placed a hold pending a DOJ review. #federalreserve #interestrates #kevinwarsh #wallstreet #economicpolicy

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