President Donald Trump has sworn in Kevin Warsh as the new chair of the Federal Reserve, following Senate confirmation earlier this week.
Despite the administration's vocal advocacy for lower interest rates, market expectations for rate cuts in 2026 have not shifted significantly.
25% in the session, with no immediate repricing of the Fed's policy path.
The U.S. 10-year Treasury yield remained stable at 4.25% in the session, with no immediate repricing of the Fed's policy path.
The yield curve, which had been flattening ahead of the transition, showed no sharp movement in response to the leadership change.
Warsh's appointment marks a pivotal moment for the central bank, as he steps into a role defined by economic uncertainty and political pressure.
His tenure will be closely watched for signals on how the Fed plans to balance inflation control with economic growth.