Charting the Global Economy: Warsh Fed Pick Triggers Metals Selloff

President Donald Trump’s pick of Kevin Warsh for the next chair of the Federal Reserve triggered a rebound in the dollar and a subsequent plunge in precious metals.

The announcement of Warsh came after the central bank left interest rates unchanged as expected. Chair Jerome Powell talked up a “clear improvement” in the outlook while noting the job market is steadying. Futures markets expect no shift in rates before June.