News & Insights

In a post on Truth Social, President Trump announced he will nominate Kevin Warsh to succeed Jerome Powell as the Chair of the Federal Reserve.

The week began with the worst cross-asset selloff since Liberation Day in April 2025, the day President Trump announced his global tariff policy. Investor anxiety was triggered by Trump’s push to take control of Greenland, a NATO ally, after he threatened tariffs against other NATO nations.

The week began with news that the Justice Department had served the U.S. Central Bank with grand jury subpoenas alleging fraud related to the recent renovations at the Fed’s Washington, D.C. headquarters, threatening the possibility of a criminal indictment.