CNBC Daily Open: Markets see Warsh as a safe pick for Fed chair — causing gold and silver to plunge

Image credit: Anton Rysak via Vecteezy. Article by Yeo Boon Ping. CNBC – February 1, 2026.

Markets got what they wanted. U.S. President Donald Trump tapped Kevin Warsh to lead the Federal Reserve, and investors exhaled. Markets were reassured by Warsh’s experience in the central bank — he served between 2006 and 2011, a period marked by the Global Financial Crisis — and the perception that he won’t always bend to Trump’s will. […]

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