Trump Nominates Kevin Warsh as Fed Chief: Gold, Bitcoin Investors Jittery

• Donald Trump nominated former Federal Reserve Governor Kevin Warsh as the next Fed chairman, causing global market upheaval.
• Warsh's 'strict' policy stance and hesitation towards aggressive monetary stimulus led to a 4% drop in gold prices and turmoil in commodity markets.
• Cryptocurrencies like Bitcoin also faced pressure due to fears of reduced liquidity and higher borrowing costs under Warsh's potential hawkish policies.
• Warsh advocates for structural changes at the Fed, believing AI-driven productivity can help control inflation and supports reducing the bank's balance sheet.
• The Indian stock market (Sensex, Nifty) and other Asian markets declined due to global sentiment shifts following Warsh's nomination.

Why It Matters: Trump's nomination of Kevin Warsh as Fed chief has rattled global markets, particularly gold and crypto investors.