<p>Trump nominated Kevin Warsh as the Chairman of the Federal Reserve, aiming to achieve significant interest rate cuts. Warsh's hawkish stance has been overinterpreted by the market, while Trump's loyalty requirements have been overlooked. Warsh's nomination is the result of a triple balance of policy, politics, and the market, satisfying the need for rate cuts while also helping to enhance the central bank's credibility. Warsh's background and his family ties with Trump have also increased his trustworthiness</p>

- On January 31, 2026, Trump announced the nomination of Kevin Warsh as the next Federal Reserve Chair after evaluating candidates.  
- Market reactions appear to have overinterpreted Warsh's hawkish stance, overlooking Trump's loyalty requirement for this role, which may lead to unfulfilled expectations regarding Warsh's influence.  
- Trump's choice reflects a balance of policy, politics, and market stability, although historical patterns suggest that the institutional role of the Fed Chair may overpower personal inclinations once in office.

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Lian Ping: Can the new Federal Reserve Chair Waller fulfill Trump's wish for significant interest rate cuts?