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The Latest Breaking News from US Federal Reserve

GOP Sen. Says He Won't Block Nomination Of Kevin Warsh As Fed Chair After DOJ Drops Investigation Of Jerome Powell

Republican Senator Thom Tillis said he will support Kevin Warsh's nomination as Federal Reserve chair, paving the way for his confirmation.

International Business Times

Stocks Set for Muted Open as Investors Await Big Tech Earnings and Fed Meeting; Middle East Developments in Focus

June S&P 500 E-Mini futures (ESM26) are down -0.09%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.06% this morning as investors refrain from making big bets at the start of a busy week featuring earnings from major tech names, the Federal Reserve’s interest rate decision, and a raft…

Barchart

This week: King Charles to address Congress amid a packed legislative agenda

In a more normal week, a reauthorization of surveillance powers, a budget resolution or the farm bill might take center stage on the House floor. This week, the House is scheduled to do all that as well as host a joint meeting of Congress to hear from King Charles III.…

Roll Call

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Key US senator lifts block on Fed chair nominee Kevin Warsh

The Republican senator who had effectively blocked confirmation of President Donald Trump’s pick to lead the Federal Reserve said on Sunday he was dropping his opposition after the Department of Justice ended its investigation of the current central bank chair.

Euronews

GOP thorn in Trump’s side says he’ll confirm Fed pick Warsh despite threat of Powell probe still looming

DoJ’s decision to end ‘bogus’ probe vindicated Thom Tillis, who had power to hold up the nomination of Trump’s preferred candidate indefinitely

The Independent UK

Baby boomers have now 'gobbled up' nearly one-third of America’s wealth share, and they’re leaving Gen Z and millennials behind

American septuagenarians hold more than $85 trillion in assets—by far the most of any generation.

Fortune

Mega-Cap Earnings, FOMC and Other Key Things to Watch this Week

Markets enter a pivotal week with key Mega-Cap earnings and Fed policy the main tings to watch along with any news from Iran.

Barchart

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Tillis will support Warsh, clearing way for Trump's Fed pick

"It is time for the Federal Reserve to move beyond this distraction and return its full attention to its mission."

Axios

US justice dept closes criminal investigation into Fed chief Jerome Powell, clearing hurdle for Trump nominee Kevin Warsh

The Justice Department has closed its investigation into Federal Reserve Chair Jerome Powell regarding headquarters renovation cost overruns. This move removes a hurdle for Kevin Warsh's confirmation as Fed chair. The probe's closure allows scrutiny to continue through the Inspector General's office, with potential for criminal investigation restart if warranted.

The Times of India

S&P 500 and Nasdaq Post Record Highs on Tech Stock Strength and Iran Diplomacy

The S&P 500 Index ($SPX ) (SPY ) on Friday closed up +0.80%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.16%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.95%. June E-mini S&P futures (ESM26 ) rose +0.72%, and June E-mini Nasdaq futures...

Barchart

Nasdaq, S&P 500 Reach New All-Time Highs: Stock Market Today

The leader of the AI revolution helped carry two of the three main U.S. equity indexes to new highs heading into the weekend.

Kiplinger

Dollar Drops on Hopes for US-Iran Diplomacy

The dollar index (DXY00 ) on Friday fell by -0.24%. The dollar gave up an early advance and turned lower on Friday as stocks rallied on optimism that peace talks between the US and Iran are set to resume. Bloomberg reported that Iranian Foreign Minister Abbas Araghchi is expected to...

Barchart

How a swap line for Persian Gulf allies would break with the past

"Many of our Gulf allies have requested swap lines" and seemed receptive to their use, said Treasury Secretary Scott Bessent.

Axios

Why Trump’s DOJ decided to drop the criminal case against Fed Chair Jerome Powell

IN FULL

The Independent UK

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The Guardian - US

US justice department drops criminal investigation against Jerome Powell

Move will remove obstacle for confirmation of Kevin Warsh, Trump’s pick to replace Powell as Federal Reserve chair

Barchart

Stocks Rise on Intel’s Earnings and Possible Resumption of Iran Peace Talks

The S&P 500 Index ($SPX ) (SPY ) today is up +0.41%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.33%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.36%. June E-mini S&P futures (ESM26 ) are up +0.38%, and June E-mini Nasdaq futures...

International Business Times

DOJ Drops Criminal Investigation Of Jerome Powell, Potentially Paving Way For Confirmation Of Kevin Warsh

The Department of Justice dropped on Friday its criminal investigation of Federal Reserve Chair Jerome Powell, federal prosecutor Jeanine Pirro announced.

Fortune

Pirro drops Powell probe, handing Kevin Warsh a lifeline, though U.S. attorney vows to restart probe ‘should the facts warrant doing so’

It’s unclear whether or not Powell will choose to stay on the board.

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The Independent UK

Trump’s DOJ drops case against Jerome Powell to clear the way for Kevin Warsh as Fed chair

Trump’s pick to lead the Fed was blocked by a key Senate Republican unless prosecutors agreed to back off the case

Caixin Global

The Week Ahead (April 27-May 1): China Implements Zero Tariffs on All African Partners

U.S. Federal Reserve is widely expected to hold interest rates steady, Bank of Japan convenes its policy meeting amid lowered rate hike expectations

Barchart

Dollar Declines on Iran Peace Optimism

The dollar index (DXY00 ) today is down by -0.16%. The dollar gave up an early advance and turned lower today as stocks rallied on optimism that peace talks between the US and Iran are set to resume. Bloomberg reported that Iranian Foreign Minister Abbas Araghchi is expected to arrive...

Axios

DOJ drops criminal probe into Fed chair Jerome Powell

The move paves the way for Kevin Warsh to succeed Powell as the next head of the Federal Reserve.

Euronews

ECB interest rate dilemma: Eurozone growth stalls as Iran war fuels inflation

The European Central Bank faces heightened uncertainty ahead of next week’s rate decision, with President Christine Lagarde warning the "stop-start nature" of the Iran war is making the economic outlook harder to assess.

Roll Call

DOJ drops investigation into Fed’s Powell

U.S. Attorney Jeanine Pirro said Friday that she is dropping her investigation into Federal Reserve Chair Jerome Powell over the cost for renovations at the central bank, a move that could clear a path for the Senate to confirm Kevin Warsh as Powell’s replacement. “I have directed my office to…

Barchart

Dollar Climbs as Crude Prices Jump and Stocks Fall

The dollar index (DXY00 ) climbed to a 1.5-week high on Thursday and finished up by +0.22%. The dollar remains supported amid persistent tensions in the Middle East, which is boosting safe-haven demand for the dollar. Also, rising crude oil prices are pushing up inflation expectations, a hawkish factor for...

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