Kevin Warsh took another step towards becoming Federal Reserve chair on Tuesday, clearing a key Senate vote that puts him on the central bank Board of Governors. The upper chamber voted to approve Warsh’s nomination by a 51-45 vote, on a mostly party-line basis. Only Sen. John Fetterman, D-Pa., crossed lines to vote for President…
If the Federal Reserve still has any reasons to cut interest rates in the near future, they’re getting harder and harder to find. Friday’s jobs report for April provided the latest evidence that the central bank’s larger concern isn’t a flagging labor market but rather a cost of living that is getting increasingly harder for…
Committee Chairman Sen. Tim Scott (R-SC) delivers an opening statement during the Senate Committee on Banking, Housing, and Urban Affairs confirmation hearing for Kevin Warsh, U.S. President Donald Trump’s nominee for Chair of the Federal Reserve, in the Dirksen Senate Office Building on April 21, 2026 in Washington, DC. Andrew Harnik | Getty Images Senate…
Kevin Warsh, chairman of the US Federal Reserve nominee for US President Donald Trump, during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, DC, US, on Tuesday, April 21, 2026. Graeme Sloan | Bloomberg | Getty Images Most people don’t know and don’t have much reason to care what a currency…
Risk in the credit markets has received a lot of attention in 2026, from fears about private credit stress to the head of the nation’s biggest bank, JPMorgan CEO Jamie Dimon, warning this week — though not pointing to any specific current credit market signal — “We haven’t had a credit recession in so long,…
Jeanine Pirro is sworn in as the new interim U.S. Attorney for the District of Columbia during a ceremony hosted by U.S. President Donald Trump, at the White House in Washington, D.C., U.S., May 28, 2025. Leah Millis | Reuters U.S. Attorney for the District of Columbia Jeanine Pirro on Sunday appeared to abandon a…
Federal Reserve Chairman Jerome Powell, and Federal Reserve Nominee, Kevin Warsh. Reuters When the Federal Open Market Committee gathers again in mid-June, it will mark the first time in nearly 80 years that a sitting and former chair conduct business together, a historic overlap that comes at a sensitive time for the central bank. While…
Pedestrians walk along Wall Street outside of the New York Stock Exchange (NYSE) in New York, US, on Monday, April 6, 2026. Michael Nagle | Bloomberg | Getty Images The closure of the Strait of Hormuz has caused a worldwide economic ripple effect, hiking prices of everything from gas to pharmaceuticals and causing shortages of…
Jeanine Pirro, U.S. attorney for the District of Columbia, speaks during a news conference at the Department of Justice in Washington, Feb. 6, 2026. Aaron Schwartz | Bloomberg | Getty Images U.S. Attorney for the District of Columbia Jeanine Pirro may have suspended her criminal investigation into outgoing Federal Reserve Chair Jerome Powell, but she…
The Federal Reserve held interest rates steady at the conclusion of its policy meeting on Wednesday. In what could be Jerome Powell’s last as chair before President Donald Trump’s yet-to-be-confirmed nominee Kevin Warsh takes the helm, central bankers maintained the federal funds rate in a target range of 3.5% to 3.75%. Inflation has surged since the war with Iran…
