Gary Cohn, former Trump economic adviser and vice chairman of IBM, told "Face the Nation" that he believes that President Trump's Fed nominee Kevin Warsh will "take the Fed back to its traditional" norms.

Warsh has repeatedly and loudly blasted his old colleagues over the years for letting the bank’s assets balloon, prompting speculation in markets that he could move quickly to have them drawn down

The U.S. dollar strengthened, signaling the market's approval of Warsh's credibility and perceived autonomy, but safe-haven assets gold and silver plummeted.

Key Takeaways Kevin Warsh’s record shows a former crisis-era Fed hawk who now appears more open to rate cuts, creating uncertainty about how he would balance inflation risks with President Trump’s push for lower interest rates.

If confirmed, Trump’s Fed-chair nominee would face several treacherous balancing acts.

Kevin Warsh’s long-held desire to slash the Federal Reserve’s balance sheet is likely to clash with Donald Trump’s relentless calls for the central bank to depress long-term borrowing costs, big fund managers have said.

Kevin Warsh, President Donald Trump's pick to head the Federal Reserve, has earned over $1 million since 2020 as a member of the ​board of e-commerce company Coupang, now at the center of trade tensions between the U.

Warsh has recently advocated for lower rates, but a smaller Fed balance sheet.