Shares of banks and other financial institutions fell amid mixed responses to President Donald Trump's unveiling of Kevin Warsh as his nominee for chairman of the Federal Reserve.
Elizabeth Warren, the top-ranking Senate Democrat on the committee that oversees the Fed, called to Warsh to reveal his views on the Trump administration's pressure campaign against the central bank. The Trump administration has attempted to oust governor Lisa Cook and opened a probe into Chair Jerome Powell's statements regarding a central-bank building project.
Atlanta Fed President Raphael Bostic reiterated his view that inflation remained too high and the Fed should return to its 2% target in a CNBC interview.
American Express shares fell after the credit-card lender's fourth-quarter profit growth failed to quell concerns about rising interest rates.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
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