The Democrat roadblock was expected but “raises the prospect of Chair Powell staying on as FOMC chair (not Board of Governors chair) beyond May,” noted UBS. Kevin Warsh, a former Fed governor under Ben Bernanke, didn’t upset markets beyond potentially adding to the decline in precious metal prices with his hawkish tone on the central bank’s balance sheet. But Warsh may not shape the tone of conversations... [2879 chars]
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