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The Latest Breaking News from Jerome Powell

US Senate confirms Kevin Warsh as Federal Reserve chair, replacing Jerome Powell

Warsh will serve four-year term as chair, taking over amid rising inflation and pressure from Trump to lower rates

The Guardian - US

Trump Fed chair nominee Kevin Warsh is confirmed by Senate as Jerome Powell vows to stay on board

Kevin Warsh stressed that the president did not make him pledge to cut interest rates to secure his nomination to head the Federal Reserve

The Independent UK

Warsh confirmed to lead Federal Reserve

The Senate confirmed Kevin Warsh on Wednesday to become chairman of the Federal Reserve for a four-year term. The 54-45 vote concludes the process two days before Fed Chair Jerome Powell’s term ends. The Senate confirmed Warsh on Tuesday to a 14-year term on the board, effective as of Feb. 1, 2026.…

Roll Call

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Trump Called Two Female Reporters 'Dumb' and 'Stupid' in Minutes — Here Is Every Woman Journalist He Has Attacked

President Trump called MS NOW's Akayla Gardner 'dumb' and a second reporter 'stupid' within minutes on 12 May, adding to a growing list of women journalists he has publicly insulted.

International Business Times UK

US Stock Market: Fed’s Goolsbee flags rising inflation risks after weak April data

Chicago Fed President Austan Goolsbee raised concerns over rising U.S. services inflation, saying recent data showed price pressures moving in an unfavourable direction. He noted inflation remains sticky despite a stable labour market, reinforcing caution among policymakers as the Federal Reserve continues to assess its rate path amid mixed economic…

The Economic Times

Donald Trump Lashes Out at Female Reporter in Ugly Scene Just Hours Before Departing for Beijing

US President Trump insulted female journalists questioning his administration's spending on renovations, sparking controversy over his treatment of women in the media.

International Business Times UK

‘He kept me out of jail’: A normal person would never admit that in public. Trump walked up to the mic at a law enforcement event and led with it

High praise!

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US Senate approves Kevin Warsh for Fed Board, chair confirmation next

The Senate has confirmed Kevin Warsh to the Federal Reserve Board of Governors. A vote for his chairmanship is expected soon. This confirmation follows a lifted blockade by Senator Thom Tillis. The move comes as President Trump pushes for lower interest rates. Inflation is currently surging, presenting a challenge for…

The Economic Times

Senate Confirms Kevin Warsh As Fed Governor, Another Step Toward Becoming Chair

The Senate on Tuesday confirmed Kevin Warsh as governor of the Fed, taking another step towards replacing Jerome Powell as chair of the central bank.

International Business Times

Senate confirms Kevin Warsh to US Federal Reserve Board; Fed chair vote likely on Wednesday

Kevin Warsh is officially stepping into the role of a Federal Reserve governor, primed to steer the US central bank through turbulent political waters. As he prepares for this pivotal leadership role, Warsh is contemplating a strategic overhaul at the Fed, particularly looking to enhance collaboration with the Treasury.

The Economic Times

Iran war pushes US inflation to 3.8% as petrol prices surge

US consumer prices rose 3.8% in April as the Iran war drove petrol costs up 28% in a year, with real wages falling for the first time in three years, according to government data.

Euronews

Inflation rises to its highest level since 2023 as fuel costs surge amid Iran war

The consumer price index climbed 3.8% from last month

The Independent UK

Why Kevin Warsh might still prove to be an independent Federal Reserve chair

Kevin Warsh is now likely to secure Senate approval on May 13, 2026, as the next Federal Reserve chair – and become arguably the most powerful central banker in the world. But when Warsh appeared before the Senate Banking Committee for his confirmation hearing in April, one punchy question underscored…

The Conversation

US consumer prices rise 3.8% as Iran war sends energy prices higher

U.S. consumer prices climbed a sharply again last month as the 10-week war with Iran pushed energy prices higher

The Independent UK

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The Guardian - US

Virginia Democrats ask conservative-majority US supreme court to restore congressional map approved by voters – as it happened

This live blog is now closed.

Kiplinger

Energy Leads S&P 500 to Another New High: Stock Market Today

Peace in the Middle East appears to be a distant prospect, but investors, traders and speculators are focusing on other fundamental factors.

Roll Call

Warsh moves closer to Fed role with Senate cloture vote

The Senate moved a step closer to confirming Kevin Warsh, the nominee for chairman of the Federal Reserve Board, with a procedural vote Monday. The Senate voted 49-44 to invoke cloture on Warsh’s nomination to the Fed board. The chamber will later need to take a distinct vote on his…

The Guardian - US

US Senate expected to confirm Kevin Warsh as next Federal Reserve chair

Warsh would succeed outgoing Fed chair Jerome Powell as Trump continues his push to influence the US central bank

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International Business Times

Fed Officials Voice Growing Concern Over Inflation And Supply Chain Pressure From Iran War

Officials at the Federal Reserve are increasingly concerned over the economic fallout from the US-Israeli war with Iran, with several of them warning that inflation risks are becoming harder to contain as the conflict drags on.

Reason

Whatever Evidence the DOJ Has Against James Comey, It Cannot Transform '86 47' Into a Death Threat

Acting Attorney General Todd Blanche implausibly claims prosecutors can prove Comey "knowingly and willfully" threatened to murder the president.

The Independent UK

Ballroom blitz: Trump bombards Truth Social with posts pushing for his beloved White House event space

President Donald Trump remains fixated on his under-construction social venue, work on which has been stalled by a lawsuit, posting a series of demands from conservatives that it be completed

Kiplinger

3 Ways Kevin Warsh Will Change the Fed

The Senate has confirmed President Trump's nominee, and though he can't cut rates all by himself, there are three things Kevin Warsh can do to change the Fed.

International Business Times

Kevin Warsh's Stance On The Fed's Independence Draws Scrutiny Amid Nomination Push: Report

Kevin Warsh's views on Federal Reserve independence are drawing fresh scrutiny as he moves closer to becoming the next chair of the central bank, according to a new report.

The Economic Times

Fed up or down with Don? How independent Trump nominee Kevin Warsh will be as Fed chair matters far beyond the US

A major global financial moment is approaching as attention turns to the US Federal Reserve leadership transition and its wider impact on monetary policy. Federal Reserve is set for a leadership change as Kevin Warsh has been nominated by Donald Trump to replace Jerome Powell when his term ends on…

The Independent UK

Acting AG Todd Blanche claims Comey case isn’t about ‘single incident’ as he’s grilled on indictment

Comey posted a photo showing seashells spelling out the numbers ‘86 47’, an apparent reference to calls to remove Trump from office

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