Tradition’s Major Says Get Ready for Warsh’s Fed to Slash Rates

A Kevin Warsh-led Federal Reserve may cut interest rates much further than markets are expecting, according to Steven Major, global macro advisor at broker Tradition Dubai.

The comments follow some confusion in markets on what the appointment of Warsh might mean for rates, after US President Donald Trump said he was going to nominate him for Fed chair last week. Warsh, formerly a Fed policymaker, has a history of being worried about inflation, yet Trump has been pushing for steeper cuts.