The Senate Banking Committee approved Kevin Warsh's nomination to lead the Federal Reserve in a 13-11 party-line vote. This nomination comes as Warsh faces external political pressures and energy shocks, while Jerome Powell warns that the central bank's independence is 'at risk.' The Federal Reserve is expected to start cutting interest rates next year, but inflation concerns remain high.
Federal Reserve official Neel Kashkari stated that the geopolitical instability stemming from the war with Iran is significantly limiting the central bank's ability to provide forward guidance on interest rates. Kashkari noted that the conflict introduces unpredictable economic variables and potential energy shocks,…
Read the full storyThe Senate Banking Committee has approved Kevin Warsh's nomination for Fed Chair, while Jerome Powell announced he will remain on the Board of Governors to safeguard central bank independence. In a poignant moment, Powell held his final press conference, bidding farewell to the FOMC press corps and emphasizing…
Optimism is surging in the crypto market as Kevin Warsh’s nomination for Fed Chair gains momentum, with Bitcoin currently testing a key institutional support zone above $75,000 after reaching levels near $79,000. This robust performance coincides with the S&P 500 reaching fresh all-time highs, signaling broad strength…
Jerome Powell has confirmed that he will continue to serve as a member of the Federal Reserve Board of Governors after his term as Chair concludes. Speaking during his final FOMC meeting, Powell cited ongoing legal threats against himself and the central bank as the primary motivation for maintaining his seat. He…
Federal Reserve Chair Jerome Powell has confirmed his intention to remain on the Board of Governors after his term as chair concludes in May. This strategic move is primarily aimed at safeguarding the central bank's institutional independence amid escalating legal and political pressures. Powell clarified that he does…
Kevin Warsh, the nominee for Federal Reserve Chair, has hinted at a potential shift in the central bank's interpretation of its authority regarding international currency swap lines. These remarks follow confirmation from Treasury Secretary Scott Bessent that the United Arab Emirates recently requested a formal swap…
Federal Reserve Chair Jerome Powell has confirmed his intention to remain a member of the Board of Governors even after his term as chair concludes. Powell cited ongoing legal threats against the Federal Reserve as a primary motivation for his decision to stay, signaling a commitment to safeguarding the central bank's…
Federal Reserve Chair Jerome Powell confirmed his intention to remain on the Board of Governors after his chairmanship ends on May 15, following the central bank's decision to hold interest rates steady in his final meeting. Powell justified the move as a strategic effort to shield the Fed's independence from legal…
The Federal Reserve maintained benchmark interest rates within the 3.5% to 3.75% range at the April FOMC meeting, marking Jerome Powell's final session as Chair. This decision follows a month where markets recorded their best performance since 2020, a rally analysts described as a virtual melt-up. Internal friction…
The Federal Reserve held interest rates steady at 3.50%-3.75% for the third consecutive meeting, as Chair Jerome Powell specified May 15th as the date he will step down from the helm while remaining a Governor. Powell confirmed he will stay on the Board until 2028, a historic move aimed at safeguarding the Fed's…
The Federal Open Market Committee (FOMC) released its latest monetary policy statement, noting that U.S. economic activity continues to expand at a solid pace. Despite this robust growth, the committee observed that job gains have remained relatively low in the current period. The statement also highlighted that…
The Senate Banking Committee has formally approved Kevin Warsh's nomination to succeed Jerome Powell as Chair of the Federal Reserve in a 13-11 party-line vote. The nomination now moves to a final floor vote in the Senate, marking a pivotal step in the central bank's leadership transition. Four dissenting members…
The Federal Open Market Committee (FOMC) maintained the federal funds rate at 3.5% to 3.75%, marking its third consecutive pause. The decision was marked by a significant 8–4 vote split, representing the largest internal dissent within the committee since 1992. Governor Stephen Miran was identified as a key dissenting…
The Senate Banking Committee has formally approved the nomination of Kevin Warsh to serve as the Chair of the Federal Reserve. This approval marks a critical legislative milestone in the leadership transition at the world's most influential central bank. The nomination will now proceed to the full Senate for a final…