Trump Taps Warsh For Fed Chair, Furman Reacts to Rate Hold

• Kevin Warsh is presented as a strong candidate for Fed Chair, with Fed Governor Stephen Miran highlighting his credibility and respect.
• Stephen Miran asserts the Fed's independence, stating policy is driven by economic data, not presidential directives.
• Jason Furman observes the Fed's increased confidence due to stabilizing unemployment and a 'softness' in inflation, suggesting it's likely to decrease.
• Furman attributes the limited inflation impact of tariffs to businesses absorbing costs and tariffs being 'dialed back,' and unemployment stabilization to reduced immigration.
• He notes the weakening dollar could help redress the trade deficit but might be politically unpopular, and views Japan's bond market volatility as a return to 'normal' macroeconomic rules.

The video discusses the potential nomination of Kevin Warsh as Fed Chair, with Fed Governor Stephen Miran praising his qualifications and emphasizing the Fed's independence. Economist Jason Furman reacts to the Fed's decision to hold rates steady, noting stabilizing unemployment and softening inflation. He also analyzes the impact of tariffs, the weakening dollar, and volatility in Japan's bond market.