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Market Chatter: New Fed Chair Kevin Warsh to Appoint Two Central Bank Vets as Advisers

BY MT Newswires | ECONOMIC | 06:54 AM EDT

06:54 AM EDT, 06/26/2026 (MT Newswires) -- Federal Reserve Chairman Kevin Warsh has chosen longtime economists at the US central bank, Daniel Covitz and Eric Engstrom, to serve as advisers, The Wall Street Journal reported Friday, citing people familiar with the matter.

Covitz is one of three deputy directors in the Fed's division of research and statistics, while Engstrom is a senior associate director in the division of monetary affairs.

The Federal Reserve did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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