Kevin Warsh's nomination serves as another test of the Fed's independence. If the stock market's reaction to Kevin Warsh is any guide, it's going to be a bumpy ride for investors over the next few months. Warsh is President Donald Trump's choice to succeed Jerome Powell as chair of the Federal Reserve after Powell's term ends in May. Warsh commands a reputation as an inflation hawk and a hater of quantitative easing, so his nomination serves as another test of the Fed's independence. In typical circumstances, opinions Warsh has held for decades, widely documented in various articles written by him, would push bond ... (full story)