Warsh Could Be a Bond Market-Friendly Choice as Next Fed Chair -- Market Talk

Dow Jones01-20 18:18

1018 GMT - Kevin Warsh is emerging as a potential likely candidate for Federal Reserve Chair and if he is chosen this could support the bond market, Julius Baer's Dario Messi says in a note. Warsh would probably endorse additional interest-rate cuts but without being unduly influenced by political pressure to do so, the head of fixed income says. Warsh is perceived as being less politically aligned or ideologically tied to the administration's demands and his nomination should therefore bolster the Fed's credibility, he says. "Such a profile may help stabilise the term premium and reduce the risk of yield spikes linked to concerns over political influence." The bond market still doesn't appear to be pricing in material threats to Fed independence, Messi says. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

January 20, 2026 05:18 ET (10:18 GMT)

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Warsh is perceived as being less politically aligned or ideologically tied to the administration's demands and his nomination should therefore bolster the Fed's credibility, he says. \"Such a profile may help stabilise the term premium and reduce the risk of yield spikes linked to concerns over political influence.\" The bond market still doesn't appear to be pricing in material threats to Fed independence, Messi says. 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Warsh would probably endorse additional interest-rate cuts but without being unduly influenced by political pressure to do so, the head of fixed income says. Warsh is perceived as being less politically aligned or ideologically tied to the administration's demands and his nomination should therefore bolster the Fed's credibility, he says. \"Such a profile may help stabilise the term premium and reduce the risk of yield spikes linked to concerns over political influence.\" The bond market still doesn't appear to be pricing in material threats to Fed independence, Messi says. 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