Powell

Deputy leader plays down leadership talk and says party must focus on long-term challenges rather than personnelLabour’s deputy leader has warned there will be “no magic bullet” to solve Labour’s problems – or major challenges facing the country – as its MPs grapple with how to navigate the fallout out from the local elections.Lucy Powell told the Guardian she understood there was “huge anger and despondency” from Labour MPs in the aftermath of the Peter Mandelson vetting scandal, but said the prime minister would not make a similar mistake again. 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.

• 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.'

• 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 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 federal judge on Friday threw out two Justice Department subpoenas issued to 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, an Obama appointee, stated in a 27-page opinion that the subpoenas' dominant purpose appeared to harass Powell into yielding to President Trump or resigning. The decision represents a significant setback for the Trump administration's efforts to pressure the independent central bank amid public attacks on Powell. Legal experts anticipate appeals, potentially escalating tensions between the executive branch and judicial oversight of monetary policy.

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.