President Trump has selected Kevin Warsh as the new Chair of the Federal Reserve, surprising many who expected Rick Rieder to be chosen. Warsh, a former member of the Federal Reserve Board of Governors, is known for his “hawkish” views on inflation, causing precious metals to plummet on Friday. Despite this, Warsh believes in an upcoming AI-driven productivity boom and may be open to interest rate cuts.

Warsh’s selection as Fed Chair has received praise from investing legends like Stanley Druckenmiller and Ray Dalio, who believe he is well-equipped for the role. President Trump’s choice of Warsh reflects his “shock and bore” approach, with Warsh seen as a safe and measured pick for the position. Despite Wall Street viewing Warsh as a “hawk,” his approach may differ from expectations, especially in light of future economic trends like AI-driven productivity gains.

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Read more at Nasdaq: Greenspan 2.0: Why Kevin Warsh is NOT a Monetary Hawk