President Trump's administration faced scrutiny on multiple fronts Friday, including market volatility following the nomination of Kevin Warsh to lead the Federal Reserve, and the indictment of two journalists for their coverage of a Minneapolis protest. The nomination of Warsh jolted financial markets, while the indictments raised concerns about press freedom.
Financial markets experienced volatility Friday in response to President Trump's nomination of Kevin Warsh to lead the Federal Reserve, according to multiple news sources. The uncertainty surrounding Warsh's nomination led to fluctuations in U.S. stocks, the dollar's value, and precious metals prices, as investors grappled with the potential for lower interest rates and higher inflation, Fortune reported. Warsh's dovish stance on interest rates also contradicted his past criticisms of economic stimulus, raising concerns about his true economic beliefs and alignment with Trump's populist agenda, Time reported.
Adding to the administration's challenges, journalist Don Lemon, a former CNN host, and Georgia Fort were indicted by the Trump administration's Justice Department for their coverage of a Minneapolis protest, Vox reported. Lemon was fired from CNN in 2023, according to Vox. The indictments raised concerns about the administration's stance on press freedom.
Furthermore, President Trump's Treasury Secretary, Scott Bessent, could face potential repercussions if Trump is dissatisfied with his pick for Federal Reserve chair, Kevin M. Warsh, Time reported. Warsh's selection, despite Bessent leading the vetting process, could haunt both Bessent and Trump if Warsh's policies deviate from expectations.
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