World

Kevin Warsh Fed governor nomination clears U.S. Senate, setting stage for Powell succession

The U.S. Senate approved Kevin Warsh\'s nomination to the Federal Reserve Board of Governors by 51 votes to 45. The Senate is expected to vote separately this week on his nomination as Fed chair. Warsh would serve as a governor through 2040. If confirmed as chair, the process would set in motion a transition from current chair Jerome Powell, whose four-year term ends on Friday.

Crypto

Bitcoin watches Kevin Warsh factor as rate-cut hopes meet policy uncertainty

Bitcoin could face months of consolidation ahead of a planned change in the U.S. Federal Reserve chair next month, a warning said. Markets see Kevin Warsh taking over as potentially raising short-term volatility across risk assets, including cryptocurrencies and stocks. Some traders expect renewed downside pressure in June based on past Fed transitions, while rate-cut expectations clash with uncertainty over Warsh\'s policy stance. Others point to improved liquidity conditions as the Fed expands its balance sheet.