Stephen Miran Resigns from Fed Board, Kevin Warsh Poised for Chair

Stephen Miran's resignation from the Federal Reserve Board has created an opportunity for Kevin Warsh to potentially assume the role of Fed chair. This transition could influence monetary policy direction, particularly through changes in interest rate expectations and risk appetite among investors. Markets sensitive to Fed policy, including equities and fixed income, may experience volatility as traders reassess their positions in light of potential shifts in the central bank's stance. The upcoming Federal Open Market Committee meeting will be a key event for traders to gauge the implications of this leadership change on future monetary policy decisions.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

Active traders typically follow a three-step workflow when a market-moving headline hits the wire: (1) read the headline on the terminal or hear it on the squawk box; (2) assess whether the news is already priced in (by checking intraday price action in the seconds before) or whether it's genuinely new information; (3) act — either entering a breakout position, fading an overreaction, or tightening stops on existing trades. Trading News Terminal's Pro plan delivers wire-grade headlines within seconds of the source, with automatic audio squawk on every HIGH-impact event, so the read-assess-act cycle never waits on a refresh button.