Kevin Warsh will be sworn in
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The economic backdrop that Kevin M. Warsh inherits as chair of the Federal Reserve does not call for the interest rate cuts that President Trump wants.
Live markets: Bitcoin continues holding pattern near $77,000 ahead of Kevin Warsh taking over at Fed
As has been the case all week, bitcoin (BTC) is trading in a tight range around the $77,000 level in U.S. morning action. There was some economic news on Friday morning, and it wasn't pretty. The University of Michigan Consumer Sentiment Index for May fell to a record low 44.