Warsh

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...

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...

• 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.

• Iran launched drone attacks targeting US warships in retaliation for the seizure of an Iranian cargo vessel in the Strait of Hormuz. • The strikes mark a sharp escalation, with both sides issuing warnings as a fragile ceasefire nears expiry and diplomacy falters. • Fears mount of wider regional conflict disrupting global oil flows through the world's critical waterway.

Former Wall Street banker faces questions at confirmation hearing – but his biggest backer is also his biggest liabilityOn the face of it, Kevin Warsh looks like an ideal candidate to chair the Federal Reserve, the world’s most important central bank. The 56-year-old Ivy League economist, former Wall Street banker and presidential adviser ticks all the boxes. Unfortunately for Warsh, as he faces what could be a fraught nomination hearing, his biggest backer is also his biggest liability.In his second term, Donald Trump has attacked the Fed in a manner both unprecedented and unseemly. He has called current chair Jerome Powell – whom he also appointed – a “jerk”, “a stubborn MORON”, and repeatedly threatened to fire him. 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.'

• The United States has deployed more than 10,000 American personnel, 12 warships, and multiple aircraft in a naval blockade around Iranian ports that began Monday, according to US Central Command. • The blockade represents a significant military escalation in the region, with no ships crossing Iranian ports in the first 24 hours of the operation. • The deployment underscores heightened US-Iran tensions following recent military exchanges and reflects the Trump administration's aggressive posture toward Tehran.

• The US Navy sent two Arleigh Burke-class destroyers through the Taiwan Strait on April 8, 2026, in a freedom of navigation operation challenging Chinese claims. • Beijing scrambled 20 fighter jets in response, with state media labeling it 'provocation'; no collisions reported. • This escalation underscores US commitment to Taiwan's defense, critical for semiconductor supply chains worth $500 billion annually.

• Kevin Warsh was nominated as the next Federal Reserve Chair, set to succeed Jerome Powell in May 2026. • Warsh, a critic of the Fed’s quantitative easing policies, is viewed by markets as a steady hand amid economic uncertainties. • The nomination comes as PCE inflation rose to 2.9% and core PCE to 3.0% year-on-year in March, aligning with consensus expectations.

Divers in race against time to unearth wreck of the Dannebroge before seabed becomes construction siteMore than 200 years after being sunk by Admiral Horatio Nelson and the British fleet, a Danish warship has been discovered on the seabed of Copenhagen harbour by marine archaeologists.Working in thick sediment and almost zero visibility 15 metres (49 feet) beneath the waves, divers are in a race against time to unearth the 19th-century wreck of the Dannebroge before it becomes a construction site in a new housing district being built off the Danish coast. Continue reading...

• As the Iran war enters its 17th day, President Trump is pressuring NATO allies and other nations to send warships to the Strait of Hormuz to secure the critical oil route, warning that the United States cannot do it alone. • Trump stated "We'll protect them and if ever needed help, they won't be there for us," signaling frustration with allied hesitancy while claiming numerous countries are on their way to assist despite limited public commitments. • Military analysts suggest a four-week campaign would be required to remove missiles, drones, fast attack craft, and mines from the strategic waterway, with Trump's administration reportedly reaching out to Australia, Japan, South Korea, the UK, France, and China with minimal success in securing open support.

PM refuses to be drawn into wider conflict as Germany and Italy defy Trump’s call to help reopen strait of HormuzMiddle East crisis – live updatesKeir Starmer insisted on Monday that the UK would not be drawn into the wider war in the Middle East as European leaders ruled out sending warships to the strait of Hormuz.In his clearest signal yet of the UK’s divergence from Donald Trump’s attack on Iran, the prime minister said he would stand firm in the face of US pressure despite the decision being “difficult, there’s no hiding that”. Continue reading...

• President Trump demanded on March 15 that NATO and allied nations help secure the Strait of Hormuz with military vessels, warning that NATO could face a "very bad future" if allies refuse to assist in keeping the critical waterway open. • Trump warned that the US "will remember" countries that do not contribute to securing the strait, applying diplomatic pressure to allies amid escalating military tensions in the Middle East and warnings of potential sanctions waivers if the conflict prolongs. • The demand reflects Trump's strategy of leveraging the energy crisis and geopolitical instability created by the Iran conflict to mobilize international support for US-led efforts to maintain global shipping routes.

US president urges nations to deploy vessels to keep key oil shipping route open amid conflict with IranDonald Trump has said the UK should send warships to help keep the strait of Hormuz open.In a post on his Truth Social platform on Saturday, the US president urged the UK and other countries to deploy vessels to the strait amid the conflict with Iran. Continue reading...

The US military is deploying 2,500 additional Marines and another warship to the Middle East amid the Iran conflict entering its 14th day on March 14, 2026. Defense Secretary Pete Hegseth described Iran's counterattacks as 'sheer desperation' following six more US casualties this week. The buildup responds to disrupted shipping in the Strait of Hormuz and Iranian drone strikes on Saudi Arabia, which intercepted 28 drones. Pentagon officials warn of potential Navy escorts for tankers to counter economic disruptions.

The US is sending 2,500 additional Marines and an amphibious assault ship to the Middle East, nearly two weeks into the war with Iran, according to anonymous officials. Defense Secretary Pete Hegseth stated all military assets are focused on destroying Iran's offensive capabilities amid ongoing missile and drone exchanges. The deployment responds to rising US casualties, now at 13, and Iran's disruption of the Strait of Hormuz affecting global oil flows. President Trump anticipates Iranian pressure tactics but vows to keep the strait open.

Urgent request to dock is submitted by vessel after US submarine sank Iranian warship in same area on TuesdayMiddle East crisis – live updatesSri Lanka has evacuated 208 crew members from an Iranian navy vessel that made an emergency request to dock, a day after a US submarine strike sank another Iranian frigate, killing more than 80 people on board.Sri Lanka’s president, Anura Kumara Dissanayake, on Thursday confirmed that the country’s navy would take over Iranian military support ship IRIS Bushehr and allow it to dock at the north-eastern port of Trincomalee. Continue reading...