Warsh

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.