Fed Chair

• Warsh zou de aftredende Fed-voorzitter Jerome Powell opvolgen, terwijl Trump zijn pogingen voortzet om invloed uit te oefenen op de Amerikaanse centrale bank. • De Amerikaanse Senaat wordt verwacht Kevin Warsh deze week te bevestigen als voorzitter van de Federal Reserve, terwijl Donald Trump zijn campagne voortzet om invloed uit te oefenen op de belangrijkste centrale bank ter wereld. • De invloed van de Fed op de economie reikt van de arbeidsmarkt tot aan de hypotheekrentes, en elke stap wordt nauwgezet gevolgd door investeerders op Wall Street.

• 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.

US president says he has ‘held back’ on firing the head of the Federal Reserve leading up to end of Powell’s term in MaySign up for the Breaking News US email to get newsletter alerts in your inboxDonald Trump threatened to fire Jerome Powell if he stays on as US Federal Reserve chair past the end of his tenure and doubled down on a criminal investigation into renovations of the central bank’s headquarters.As the White House pushes Trump’s new nominee to take charge of the Fed, Kevin Warsh, Powell has a month left in the role. The possibility of Powell staying on as chair past 15 May, the official end of his term, has grown amid mounting scrutiny of Trump’s approach to the Fed in the Senate, which is required to approve Warsh’s nomination. Continue reading...

• 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.

• A federal judge on March 14, 2026, blocked subpoenas directed at the Federal Reserve by the Justice Department, hitting an institutional guardrail for the Trump administration. • The ruling delays confirmation of Kevin Warsh as next Fed Chair, with Republican Senator Thom Tillis warning of prolonged process; DOJ plans to appeal. • This occurs amid fading confidence in US trade policy and fiscal credibility, maintaining bearish USD views.

A federal judge on Friday threw out two Justice Department subpoenas targeting the Federal Reserve, ruling them improper in U.S. Attorney Jeanine Pirro's criminal investigation into Chair Jerome Powell. U.S. District Judge James Boasberg, in a 27-page opinion, stated the subpoenas' dominant purpose was to harass Powell amid President Trump's public attacks, handing a victory to the central bank. The decision underscores escalating tensions between the Trump administration and the Fed, potentially delaying probes into monetary policy decisions. Legal experts anticipate appeals as the case highlights executive-branch overreach concerns.

A judge rejected subpoenas targeting Fed Chair Jerome Powell on March 13, 2026, preventing potential disruptions during a tense market session as indexes fell. The decision came amid broader equity declines, with S&P 500 down 0.5% and Nasdaq off 0.67% in afternoon trading. This ruling stabilizes central bank communications at a critical juncture for monetary policy amid inflation pressures. Markets may now focus on upcoming PCE data releases without subpoena overhang.

A judge rejected a subpoena for Federal Reserve Chair Jerome Powell on March 13, 2026, blocking forced testimony amid ongoing investigations. The decision came during heightened market volatility from oil prices and geopolitical risks, stabilizing expectations for central bank independence. Markets reacted positively in S&P 500 futures, reducing uncertainty over Fed policy signals. This ruling may delay further probes into 2025-2026 rate decisions.