The Outlook Ahead -Market Watch Live

Market Watch Live: Warsh as Fed Chair - What to expect and market implications

02 February 2026

President Donald Trump’s January 30 announcement of Kevin Warsh as his nominee for Federal Reserve Chairman has triggered a set of risk-off moves across asset classes - as investors digest the implications of Warsh’s long-time reputation as an “inflation hawk” despite Trump’s stated desire for lower rates.

As a result, we saw a stunning sell-off in precious metals, with gold diving 12% and silver crashing by 30%, while the USD staged its largest rally since May. 

Global equities, including the S&P500 ended lower while bond markets remained mostly mixed, as futures pricing still reflect two rate cuts by the end of 2026.

Against a complicated backdrop of AI disruption and significant geopolitical uncertainties, what can the market expect from a Fed Chair who has historically leaned hawkish but now appears increasingly aligned with the "Trump 2.0" policy agenda? 

What will be the immediate and long-term implications for asset prices?

Event Details:
02 February 2026
5:00PM SGT

Related events

Was this page useful?