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Warsh advances toward Fed chair role as Powell prepares for possible final FOMC
Warsh advances as Powell nears a likely final FOMC, while Bitcoin holds near $77K before Big Tech earnings.
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Wednesday is one of those days where everything happens at once.
The Fed announces its rate decision at 2 PM ET. Four of the Mag 7 report earnings after the bell.
And somewhere in between, the Senate is quietly reshaping who runs monetary policy for the next era.
Buckle up. Today sets the tone for markets through summer.
Senate panel approves crypto-friendly Kevin Warsh for Fed chair in 13-11 vote
Kevin Warsh cleared the Senate Banking Committee by just two votes on Wednesday.
The narrow 13-11 approval sends his Fed chair nomination to the full Senate, likely before Powell's term ends.
Warsh is widely seen as more open to digital assets, which could reshape how the Fed approaches crypto regulation for years.
Markets
Markets hold steady as traders brace for a packed afternoon
The Fed is all but certain to keep rates at 3.5%-3.75% today.
The real suspense starts after the bell, when Microsoft, Amazon, Meta, and Google all report earnings.
Polymarket traders are pricing a 22% chance Bitcoin dips to $60K by month's end.
BTC held near $76K, ETH traded above $2,200, and SOL sat flat around $84.
Big Tech earnings and Fed decision put market volatility back in focus
Google, Meta, Microsoft, and Amazon all drop earnings after today's closing bell, with analysts still broadly rating all four stocks as buys.
The stocks were also slightly up on the day ahead of the reports, showing investors are still leaning into the Big Tech trade.
When Big Tech and the Fed collide on the same day, crypto volatility tends to follow.
Bernstein holds $130 Robinhood target despite Q1 miss and 47% crypto revenue drop
Robinhood missed on both revenue and earnings last quarter, sending shares below $82.
Bernstein still sees nearly double the upside, citing the company's push into AI and product diversification.
If crypto platforms can survive a 47% revenue hit and keep bulls on their side, the long-term thesis might actually hold up.
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Until next time.
Estéfano
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