January 30, 2026 11:11 PM GMT Federal Reserve Monitor | North America Kevin Warsh Nominated for Fed Chair A Warsh nomination does not change our expectation for two further rate cuts, driven by disinflation, in 2H26. We expect that any shift in the Fed's policy framework is more likely to occur gradually through balance sheet policy rather than the interest rate reaction function. Key expectations Morgan Stanley & Co. LLC Eli P Carter Strategist Eli.Carter@morganstanley.com +1 212 761-4703 Aryaman Singh Str ...