Federal Reserve

With the Iran war unleashing the biggest inflation surge since 2023, traders are pricing in that the Fed is virtually certain to start raising rates by December

Mr Warsh wants to significantly reform the way the Fed functions, but his real challenge may be outside the central bank

The Senate confirmed President Donald Trump's nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world's most powerful central bank at a fraught moment for the global economy. Warsh was confirmed Wednesday in a largely party-line vote. His nomination had been thrown into doubt in recent months after Republican Sen Thom Tillis of North Carolina said he would block the nomination while the Justice Department investigated Fed Chair Jerome Powell. The Powell probe was dropped in April, clearing the way for the Senate to confirm Warsh. Senate Majority Leader John Thune urged colleagues to support Warsh during a floor speech Wednesday morning, saying it's critical that a Fed chair "understand not only the macro" but also "appreciate the microeconomy: and that's the hardworking Americans, their jobs and their livelihoods". "Kevin Warsh is just such a person," Thune said. Warsh, 56, a former top Fed official, will become chair at an unusually difficult time fo

The question now is whether Powell's continued presence at the Fed will further inflame tensions between the administra- tion and the central bank

Jerome Powell said he plans to remain on the board of the Federal Reserve after his term as chair ends next month "for an undetermined period of time," citing the "unprecedented" legal attacks against the central bank by the Trump administration. "I worry these attacks are battering this institution and putting at risk the things that really matter to the public," Powell said at a press conference after the Fed announced its decision to keep its benchmark interest rate steady. Powell's decision to stay denies President Donald Trump a chance to fill a seat on the central bank's seven-member governing board with his own appointee. The Senate Banking Committee earlier approved Powell's successor as chair, Trump appointee Kevin Warsh, on a party-line vote. Powell would continue as a Fed governor, possibly until January 2028. U.S. Attorney for the District of Columbia Jeanine Pirro said on X Friday that her office was ending its probe into the Fed's extensive building renovations because

Gold slips as rising oil prices stoke inflation fears and rate outlook uncertainty, with markets eyeing Fed Chair Jerome Powell's cues on policy path

Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement. Powell will preside over what will probably be his last meeting as chair and hold a news conference Wednesday afternoon, when he may say whether he will take the unusual step of remaining on the central bank's board of governors, even after his term as chair ends May 15. Separately, the Senate Banking Committee is scheduled to vote on the nomination of Kevin Warsh to succeed Powell. The nomination is expected to be approved on a party-line vote, and will then be taken up by the full Senate next month. President Donald Trump nominated Warsh, a former top Fed official, in January. Last year, Warsh echoed Trump's calls for the Fed to lower its key interest rate, leading many Democrats in Congress to question how independently he will operate as Fed chair. The Fed is widely expected to

US Justice Department closes probe into Federal Reserve renovation cost overruns, asks Inspector General to review expenses under Chair Jerome Powell

US judge James Boasberg blocked subpoenas targeting Fed Chair Jerome Powell over HQ renovations, citing no evidence and an improper retaliatory motive

A new San Francisco Federal Reserve study suggests the recent slowdown in unauthorised immigration to the United States is coinciding with weaker job growth

Using data through November 2025, the study finds that about 94 per cent of the tariff costs were passed through to US firms and consumers in the first eight months of the year

The bank said 90 per cent of the tariffs imposed by the president on imported goods are borne by American consumers and companies

Federal Reserve governor Stephen Miran has stepped down from his position as chair of the White House's Council of Economic Advisers, ending a controversial arrangement where he held positions at both institutions. His resignation was confirmed by White House spokesman Kush Desai late on Tuesday. President Donald Trump appointed Miran in September to a seat on the Fed's seven-member board of governors after Adriana Kugler, who was appointed by President Joe Biden, abruptly resigned. Miran completed her term, which ended January 31. Yet he can remain on the Fed's board until a replacement is confirmed by the Senate. It is unusual for someone to keep a White House position while also serving as a Fed governor, a nonpartisan position. Previous presidents have appointed aides to the Fed, but for decades they gave up their White House positions before joining the Fed. Miran took an unpaid leave of absence instead. Miran said when he was named in September that he would step down from hi

At the same time, Warsh could argue that by tightening financial conditions, a smaller balance sheet would grant his Fed room to cut its benchmark rate deeper

Until macro stability returns and ETF inflows resume, crypto markets, analysts believe, are likely to remain defensive

After months of record highs and stretched valuations, spot prices for gold and silver dropped 9 per cent and 28 per cent respectively after the announcement

Trump's high-growth push - fuelled by stimulus, deregulation and rate cuts - may heat up the US economy but risks persistent inflation and financial instability

US President Donald Trump has nominated former Federal Reserve governor Kevin Warsh to lead the central bank after Jerome Powell steps down in May

Trump has openly sought to shape Fed's rate policy through his appointments in an effort to find someone broadly acceptable to markets who'll also share his inclination to cut rates further and faster

Despite geopolitical risks and inflation worries, experts say resilient growth, likely US rate cuts, and stable Indian fundamentals will shape markets in the year ahead