Fed Chair

• Federal Reserve official Kevin Warsh is set to hold a press conference to explain the central bank's decision to maintain current interest rates, a move characterized as a "hawkish hold." • The event focuses on the Fed's strategy to keep rates steady while signaling a potential reluctance to cut them prematurely to ensure inflation remains under control. • This is significant as investors are searching for clues regarding the timing of future rate cuts, though Warsh's known distaste for "forward guidance" may limit specific signals.

• Federal Reserve official Kevin Warsh reaffirmed the central bank's strict commitment to a 2% inflation target following a decision to hold interest rates steady. • Warsh explicitly clarified that there is no implicit inflation target above 2%, dismissing the idea of a higher acceptable threshold for the committee. • The Fed is currently prioritizing the analysis of underlying inflation dynamics and external shocks to determine future monetary policy shifts.

• The Federal Open Market Committee (FOMC) is preparing to vote on whether to maintain current interest rates or implement a hike to combat persistent inflation. • While the committee is expected to keep rates steady, Federal Reserve official Kevin Warsh faces a critical test in managing an escalating affordability crisis. • External pressures, including the potential for a prolonged conflict in Iran and the introduction of new tariffs, threaten to further drive up consumer prices.

• Former Fed official Kevin Warsh suggested that interest rate increases may be necessary to combat stubborn inflation. • The Federal Reserve faces a dilemma between providing consumer relief from high costs and maintaining low rates to support the stock market. • This potential shift in monetary policy validates investor fears that the Fed may prioritize inflation control over market stability.

• The Federal Reserve Board of Governors has established five new task forces dedicated to analyzing and improving the conduct of monetary policy. • Key focus areas include refining policy communications during uncertainty, evaluating the costs and benefits of the current balance sheet regime, and enhancing the timeliness of economic data. • These initiatives matter as they aim to strengthen the quality of real economic signals and institutional frameworks that inform critical policy judgments.

• Federal Reserve Chair Kevin Warsh testified at his first congressional hearing on Tuesday, advocating for a "sea change" in the central bank's economic strategy. • Warsh detailed plans to overhaul the Federal Reserve's current approach to managing inflation and broader economic stability. • This shift signals a potential departure from previous monetary policies, aiming to modernize how the Fed responds to evolving financial pressures.

• Fed Chairman Kevin M. Warsh testified before Congress on Tuesday regarding the economic threats posed by rising energy prices. • The testimony follows new data showing the Consumer Price Index slowed to an annual inflation rate of 3.5 percent in June. • Warsh advocated for a shift toward private-sector data and new technologies to gain a real-time understanding of the economy.

• Federal Reserve Chairman Warsh appeared before the U.S. House Committee on Financial Services to deliver the semiannual Monetary Policy Report. • The testimony serves as a formal requirement under the Federal Reserve Act, ensuring transparency between the central bank and Congress. • This appearance allows the Federal Reserve to outline its current economic outlook and justify its strategic decisions regarding interest rates and monetary stability.

• Kevin Warsh, a potential candidate for Federal Reserve Chair, has signaled a desire for an ideological overhaul of the central bank. • His blunt approach and commitment to a different monetary framework contrast with current market expectations. • This shift is viewed as a significant risk for Wall Street, as the stock market is currently "priced for perfection" and relies on specific Fed policies.

• Kevin Warsh officially assumed the role of Federal Reserve chair on May 22, 2026, succeeding Jerome Powell who concluded an eight-year tenure on May 15. • Warsh is prioritizing price stability over immediate interest rate cuts, a stance that has alarmed Wall Street and contradicts the preferences of President Donald Trump. • This transition occurs amidst a period of market strength, with the Dow Jones, S&P 500, and Nasdaq all reaching record highs.

• US stock futures for the Dow Jones, S&P 500, and Nasdaq are trading lower as investors adopt a cautious stance. • Market participants are awaiting a key speech by Federal Reserve Chair Kevin Warsh at the European Central Bank Forum in Sintra, Portugal. • The downturn reflects investor uncertainty and a desire for fresh insights regarding the Federal Reserve's current outlook on inflation and interest rates.

• Major stock indexes rose on Wednesday to start the second half of the trading year, following a record-breaking quarter for the S&P 500 and Nasdaq Composite. • Federal Reserve Chair Kevin Warsh remained evasive regarding future interest rate movements during a European Central Bank conference. • While strong corporate earnings are expected to sustain market growth, experts warn that resilient inflation and potential rate hikes could create volatility.

• Asia-Pacific markets showed mixed performance following strong first-half gains on Wall Street, which were primarily driven by the semiconductor sector. • South Korea's KOSPI index fell 2.63% to 8,253.22, while financial markets in Hong Kong remained closed for a public holiday. • Investors are closely monitoring upcoming commentary from the Fed Chair and key economic reports due Wednesday, including the June ADP employment data and ISM manufacturing readings.

• New Federal Reserve Chair Kevin Warsh held his first news conference on Wednesday after the central bank decided to keep its key interest rate unchanged. • Despite the hold, nearly half of the Fed's policymakers indicated they could support an interest rate hike later this year. • This decision reflects the central bank's ongoing struggle to balance inflation control with economic stability.

Powell says central bank has been facing ‘stress test’ under Trump, as supreme court weighs decision on Fed governor that president tried to fireSign up for the Breaking News US newsletter emailJerome Powell, the former chair of the Federal Reserve, has warned that a single act of political interference in monetary policy could permanently destroy public trust in the central bank.As Donald Trump’s administration continues to test the Fed’s longstanding independence, Powell said in a speech on Sunday night that the institution was in the midst of a “stress test”. Continue reading...

• The Senate confirmed Kevin Warsh as Federal Reserve chair nominee, resolving a weeks-long standoff over Republican demands for a probe into outgoing Fed Chair Jerome Powell's conduct. • Warsh's confirmation represents a significant shift in Federal Reserve leadership as the administration prioritizes new economic policy direction amid ongoing inflation concerns. • The confirmation eliminates a major partisan bottleneck that had delayed central banking leadership decisions during a period of elevated business costs and consumer price pressures.

Warsh will serve four-year term as chair, taking over amid rising inflation and pressure from Trump to lower ratesThe US Senate confirmed Kevin Warsh as chair of the Federal Reserve, one of the most powerful roles in the federal government that holds enormous sway over the economy.The 54-45 Senate vote on Wednesday was split along party lines, with the exception of Democratic senator John Fetterman from Pennsylvania, who joined the Republican majority. Warsh was confirmed for a four-year term as chair and a 14-year appointment on the Fed’s rate-setting board. Continue reading...

Warsh would succeed outgoing Fed chair Jerome Powell as Trump continues his push to influence the US central bankSign up for the Breaking News US newsletter email The US Senate is expected to confirm Kevin Warsh this week as chair of the Federal Reserve, as Donald Trump continues his campaign to influence the world’s most important central bank.The Fed’s influence over the economy spans from the job market to mortgage rates, and its every move is carefully scrutinized by investors on Wall Street. Warsh’s confirmation comes at a turbulent time for the central bank, which has fallen under intense scrutiny from Trump for not lowering interest rates. Continue reading...

• The Federal Reserve voted to leave the benchmark federal funds rate unchanged at 3.5% to 3.75% on Wednesday, citing concerns about inflation rising amid the war in Iran. • This marks the continuation of the Fed's pause in rate adjustments following three successive 25-basis-point cuts in September, October, and December 2025. • Fed Chairman Jerome Powell is scheduled to hold a press conference at 2:30 p.m. ET to discuss the decision, marking what could be his final interest-rate announcement as Federal Reserve chair.

A Senate committee is poised to advance Trump’s pick as doubts linger over the Fed’s independence and Powell’s futureUS politics live – latest updatesSign up for the Breaking News US newsletter emailKevin Warsh, ​Donald Trump’s pick to lead the Federal Reserve, is set to clear a key procedural hurdle on Wednesday, opening ‌the way for him to succeed Jerome Powell in coming weeks amid the White House’s unprecedented efforts to exert control over the world’s most powerful central bank.The Senate banking committee is set to vote at 10am EDT (1400 GMT) to advance Warsh’s nomination to the full Republican-controlled Senate. All 13 Republicans on ​the panel are expected to support Warsh after Thom Tillis, a North Carolina senator, dropped his opposition following the Department of Justice’s ​decision on Friday to end a criminal investigation into Powell that Tillis viewed as a threat to the ⁠Fed’s political independence. Continue reading...

• The Department of Justice dropped its criminal investigation into Federal Reserve Chair Powell regarding the agency's building expenditures, marking a significant development in federal oversight. • The decision came amid broader discussions on Capitol Hill about federal accountability, with both Republican and Democratic representatives weighing in on the implications. • The outcome reflects shifting priorities in federal investigations and debates over Fed governance and spending practices.

• The Department of Justice has dropped its investigation into Federal Reserve Chair Jerome Powell, marking a significant policy shift. • The decision comes amid Trump's emergency economic orders, potentially easing tensions over Fed independence. • This move is viewed as stabilizing financial markets but criticized by conservatives seeking accountability on monetary policy.

Kevin Warsh, Trump’s ‘central casting’, has a long road ahead of convincing board members to lower interest ratesDonald Trump’s fate is to be frustrated by monetary policy.Even assuming he gets his way and Kevin Warsh succeeds Jerome Powell as chair of the Federal Reserve next month, it is unlikely that the president will finally gain control of the Fed. Continue reading...

• Kevin Warsh, President Trump's nominee for Federal Reserve Chair, testifies in his first Senate Banking Committee hearing at 1400 GMT on April 21, 2026, facing questions on Fed independence amid Trump's pressure to cut rates. • Warsh advocates reducing the Fed's balance sheet, conflicting with recent resumption of regular Treasury purchases in December 2025. • The hearing addresses hot topics like Fed autonomy and potential rate cuts, with USD firming after Monday's rally rejection.

The hearing marks a key hurdle Kevin Warsh must overcome in order to succeed Jerome Powell when his term ends on 15 MayHello and welcome to the US politics live blog.President Donald Trump’s choice to lead the Federal Reserve will commit to protecting central bank independence on interest rates at a crucial confirmation hearing later today.Lori Chavez-DeRemer, Donald Trump’s labor secretary, resigned from her role with the administration. She said it was “an honor and a privilege to serve” to serve and that she would take on a job in the private sector. The departure came after she became entangled in a string of political and personal controversies. Democrats celebrated, writing “this administration is imploding”.Chuck Schumer, the Senate minority leader, called for Kash Patel’s immediate resignation following a report from the Atlantic detailing the FBI director’s alleged excessive drinking and absences. Patel has sued the magazine for defamation with his attorneys calling the article a “sweeping, malicious, and defamatory hit piece”.Donald Trump signed memorandums related to coal supply chains, natural gas and grid infrastructure on Monday. The president invoked the Defense Production Act in the energy-related memos, writing that increasing energy production is “essential to United States national defense”.The crowded field of Democratic candidates in the California’s governor’s race appears to be narrowing as Betty Yee — a former state controller— announced Monday she planned to end her campaign. Meanwhile, the California Democratic party chair Rusty Hicks continued to urge candidates trailing in the polls to exit the race. Continue reading...

• President Donald Trump is backing Kevin Warsh as his preferred candidate for Federal Reserve chair, intensifying pressure on current Fed Chair Jerome Powell amid ongoing policy disagreements. • Republican Senator Kevin Cramer discussed the timeline for the CLARITY Act and Trump's strategy to reshape Federal Reserve leadership during an appearance on 'Mornings with Maria.'

Democratic lawmakers urged Republican leaders to postpone the confirmation hearing of Kevin WarshSign up for the Breaking News US email to get newsletter alerts in your inboxDemocrats have moved to stall Donald Trump’s effort to exert greater control over the US Federal Reserve, condemning the president’s “absurd” bid to install a new leader of the central bank while it is targeted with criminal investigations.Democratic lawmakers on the Senate banking committee urged its Republican leadership on Thursday to postpone the planned confirmation hearing for Kevin Warsh, the financial executive and former Fed governor Trump has nominated to replace Jerome Powell as Fed chair. Continue reading...

• President Donald Trump threatened to fire Federal Reserve Chair Jerome Powell if he remains at the helm after his term ends next month. • Trump framed the move as part of efforts to align the central bank with his administration's economic agenda amid ongoing policy tensions. • The statement escalates executive pressure on the independent Fed, potentially destabilizing financial markets and sparking debates over central bank autonomy.