Cruz Backs Warsh for Fed Chair, Vows Market Stability

Senator Ted Cruz endorses President Trumps Federal Reserve pick, Kevin Warsh, dismissing claims of political bias. Cruz, a law school classmate of Warsh, praises his intelligence and capabilities. Warsh, set to replace Jerome Powell, advocates for a more focused Fed role and has criticized the balance sheet expansion. Cruz rebukes Senator Elizabeth Warrens concerns, joking about daily decisions that might frustrate her. Both Trump and Cruz seek lower interest rates, and Cruz emphasizes the need to significantly reduce the Feds balance sheet. The Milken Institute views Warshs appointment as a positive for stable markets. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9e3ffe8008c5ac87