PANews reported on January 30th that, according to Jinshi, Sonu Varghese, global macro strategist at Carson Group, stated that if Kevin Warsh is indeed nominated as the Federal Reserve Chair, we may ultimately end up with a Fed that is somewhat hawkish. Kevin Warsh has historically been a hawk, although he has recently been talking about interest rate cuts. If he enters the Fed advocating for significant rate cuts, he may not have much credibility in convincing others that further rate cuts are needed. We might even end up with a severely divided committee that doesn't cut rates at all. In the short term, a potentially hawkish Fed could increase market volatility.