Warsh sworn in as Fed chair May 15; BTC breaks $79K, spot ETF sees $635M outflows

Kevin Warsh sworn in as Federal Reserve chair May 15 after 54-45 Senate confirmation, succeeding Powell as tenure expires same day. Chairs first FOMC June 16-17. Hawkish signal triggers Bitcoin plunge through $80K; spot Bitcoin ETF records three-month-high $635M outflows. May Michigan consumer sentiment collapses to 48.2 all-time low; expected inflation surges to 4.5%, stoking stagflation fears.