Kevin Warsh To Serve As Treasury Secretary, Replace Fed Chair Powell Later: WSJ

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As a seasoned analyst with over two decades of experience in the financial markets, I find myself intrigued by the potential appointments being considered by President-elect Donald Trump. The possibility of Kevin Warsh taking on the role of Treasury Secretary and potentially succeeding Jerome Powell as Federal Reserve Chairman is an interesting development.

Kevin Warsh, a previous member of the Federal Reserve Board of Governors, is currently in the lead for the nomination as the U.S. Secretary of the Treasury. There are rumors that Donald Trump’s transition team might appoint Warsh as the Secretary of the Treasury immediately and subsequently designate him as the Chair of the U.S. Federal Reserve (Fed), replacing Jerome Powell once his term expires.

The crypto circle maintains a degree of doubt towards Kevin, given his recent stance in favor of Central Bank Digital Currencies (CBDCs), despite his earlier investments in cryptocurrency companies.

Trump Likely to Nominate Kevin Warsh as US Treasury Secretary

On November 22, it was reported by sources to the Wall Street Journal that Donald Trump, the newly elected U.S. President, had proposed Kevin Warsh for the position of Treasury Secretary. In a meeting held on Wednesday, Warsh, who is currently the CEO of Apollo Global Management, met with Trump.

Furthermore, there were plans within the Trump administration to potentially nominate Warsh to succeed Jerome Powell as Chair of the Federal Reserve at a later date. The term for Chair Powell ends in mid-2026. Additionally, it was speculated that Donald Trump might appoint Scott Bessent to head the White House National Economic Council, with the possibility of Warsh being replaced by Bessent as Treasury Secretary at a later time.

The data from Polymarket suggests a noticeable change in probabilities regarding the favorite for the Treasury role. As we speak, Warsh is currently the front-runner with approximately a 60% chance of being selected for the prestigious Treasury position.

US SEC Chairman Position In Discussion

As a crypto investor, I’m closely watching the developments following Gary Gensler’s resignation as the Chair of the U.S. Securities and Exchange Commission (SEC). The discussions about his successor are heating up, with XRP lawyer John Deaton expressing strong support for Brad Bondi as his top pick to take over the role at the SEC. Interestingly, President Donald Trump has recently nominated Brad’s sister, former Florida Attorney General Pam Bondi, as the next Attorney General of the United States of America. This could potentially have an impact on the crypto industry, so it’s essential for us investors to keep a close eye on these developments.

As a crypto investor, I’m closely watching the potential appointment of Kevin Warsh for the Treasury position. Alongside the broader crypto community, I’ve joined Ripple CLO Stuart Alderoty in urging the transition team to thoughtfully consider their pick for the SEC Chair. For us, it’s essential that the chosen individual ensures accountability and rebuilds public trust within the regulatory landscape of digital assets.

Currently, crypto advocate Paul Atkins is ahead in the competition to succeed Gensler as SEC Chairman. This development has been warmly received by Deaton and the wider crypto community under the Trump administration. Such progress might potentially boost the price of XRP, pushing it towards a possible $2 increase.

As a researcher, I’m closely monitoring the developments regarding the potential appointment of the new SEC Chairman, and I find it intriguing that the Kalshi prediction market currently estimates a 59% likelihood for Gary G. Atkins to assume this role. While many experts seem to favor Atkins, I notice that the data from these prediction markets is experiencing considerable fluctuations, which adds an interesting layer of uncertainty to the situation.

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2024-11-22 12:03