Invesco QQQ Trust Rises 0.77% After Trump Nominates Warsh, Five Rate Cuts Expected
President Trump called passing over Kevin Warsh for Fed chair in 2017 a “really big mistake” and nominated Warsh to replace Powell in May 2026. Invesco QQQ Trust rose 0.77% Monday on prospects of up to five rate cuts from Warsh’s growth-friendly stance as U.S. futures traded lower.
1. Trump’s Admission and Fed Chair Nomination
President Trump acknowledged that passing over Kevin Warsh for Fed chair in 2017 was a “really big mistake” and formally nominated the former governor to succeed Jerome Powell when his term expires in May 2026.
2. Invesco QQQ Trust Market Reaction
Following the nomination and comments, Invesco QQQ Trust advanced 0.77% on Monday as investors anticipated a shift toward growth-stimulating policy that contrasts with the Fed’s recent data-driven approach.
3. Rate Cut Outlook and Tech Sector Impact
Warsh’s alignment with a pro-growth agenda includes forecasts for up to five interest rate cuts, a policy shift likely to boost technology-heavy ETFs such as QQQ by lowering borrowing costs and supporting higher valuations.