US 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

The new Federal Reserve chair takes charge as rising inflation, AI-led economic shifts and geopolitical shocks complicate the US monetary policy outlook

Today's opinion wrap examines the Bajaj group's legacy, India's Nordic outreach, oil trade vulnerabilities, the US Federal Reserve's independence and a book on Chapal Bhaduri

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

Fed Governor Stephen Miran, currently the central bank's biggest advocate of rate cuts, will vacate his spot on the board to make room for Warsh

Radhakrishnan said a persistent supply shock accompanied by a weaker currency can negatively impact inflation and fiscal direction, given the likelihood of higher subsidy requirements

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

The Indian rupee started the session flat at 95.02/$, down 17 points or 0.18 per cent compared with Wednesday's close of 94.85/$

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

Three days of decisions in Washington, Ottawa, London, Frankfurt and Tokyo are widely anticipated to result in unchanged borrowing costs across the club of rich nations

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

Global shocks from pandemics to wars are reshaping currencies and capital flows, raising questions on RBI's role and India's external stability strategy

A leadership shift at the US Fed amid political pressure and policy debates could test central bank independence and shape global financial stability

Warsh was responding to a question from Senator John Kennedy of Louisiana about whether he would be a "sock puppet" for the president. "Absolutely not," Warsh responded

As the Iran war enters its fifth week and US gasoline prices rise to around an average of $4 a gallon, the Fed faces a potential squeeze between its two mandates of full employment and price stability

The Fed's Board of Governors will vote to formally propose the plan Thursday. The FDIC board is holding a concurrent meeting

Sensex Today | Stock Market LIVE Updates, Thursday: The GIFT Nifty signalled that the benchmark Nifty50 will likely open lower, tracking negative global cues