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Kevin Warsh takes office as Fed chair, markets eye hawkish stance and pro-crypto leaning

Kevin Warsh has formally taken office as the 17th chair of the U.S. Federal Reserve, drawing attention from global financial and crypto markets. Investors are watching whether he will prioritise maintaining a tight stance over rate cuts, given his past criticism of an oversized Fed and support for balance-sheet reduction. His publicly favourable view of bitcoin and scepticism about retail CBDC issuance are also in focus, alongside possible changes to Fed communication.