US President Donald Trump nominated Kevin Warsh as the next Fed chair. Markets reacted to prospects of less urgency for rate cuts: dollar strengthened to about $1.188 vs EUR and CZK 20.48, bond yields rose and US stocks fell ~0.5–1%. Precious metals plunged (gold down up to ~8%, silver sharply lower). Senate confirmation faces a potential block by Sen. Thom Tillis. #Fed #FiatNews