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Mortgage rates didn't move after President Donald Trump announced his pick of Kevin Warsh as the next Federal Reserve chair.
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Trump plans to nominate Kevin Warsh to be the next chair of the Federal Reserve, when Jerome Powell's term expires in May. The president has been pushing the central bank to slash interest rates.
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The Wall Street veteran once held hawkish views on interest rates but has recently signaled a stance more in line with the president's public demands.
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President Donalf Trump nominates Kevin Warsh as new Fed chair, potentially affecting interest rates and the economy
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Federal Reserve governor Chris Waller, who was one of President Donald Trump's finalists as the next central-bank chief, said Friday that the Fed should have cut interest rates this week because of a poor U.S. job market.
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President Trump has been pressing the Federal Reserve to cut interest rates more aggressively, but the central bank voted to hold rates steady for now, as it tries to bring down inflation.
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