Markets
What ho, financial fanatics! Feast your eyes on this:
- The marvellous money-man, Stan Druckenmiller, has declared to the FT that he’s jolly well behind Trump’s choice of Kevin Warsh to lead the Fed. What a corker!
- Old Druckenmiller’s not just chummy with Warsh; he’s also thick as thieves with Treasury Secretary Scott Bessent. A regular trio of financial wizards, they are!
- And here’s a twist: Druckenmiller says Warsh isn’t always the hawkish fellow everyone thinks he is. Imagine that!
When the news leaked that Donald Trump had plucked Kevin Warsh from his hat to replace Jerome Powell as the Fed’s top dog, the markets did a nosedive faster than a greedy Augustus Gloop in a chocolate river. Crypto? Down the drain. Bitcoin? Plummeted to a mere $81,000. Goodness me!
“Nonsense!” cried Stanley Druckenmiller to the FT on Friday. “Kevin’s not always flapping his hawkish wings. I’ve seen him waddle like a dove, too!”
Now, Druckenmiller-the chap who made a fortune alongside George Soros at the Quantum Fund and then with his own Duquesne Capital Management-ought to know. Warsh has been his partner in crime since 2011. They’re so close, they natter and text more than a dozen times a day. A regular father-son duo, if ever there was one!
“There’s not a soul on this planet more suited for the job,” Druckenmiller proclaimed with a flourish. “Not one!”
And what of Treasury Secretary Scott Bessent, you ask?
Ah, Bessent! Another of Druckenmiller’s protégés. It was our Stan who plucked him from obscurity over 30 years ago at the Quantum Fund, where Bessent went on to make his own pile of dosh. A match made in financial heaven, if you ask me.
“Bessent and Warsh are like two peas in Druckenmiller’s pod,” the FT scribbled in a profile last year. “A perfect pairing of market mischief and economic wizardry.”
“I’m simply tickled pink about the dynamic duo of Warsh and Bessent,” Druckenmiller gushed today. “When the Treasury Secretary and Fed Chair are in cahoots, it’s like Christmas come early for the economy!”
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2026-01-30 18:58