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The Latest Breaking News from US Federal Reserve

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...

Barchart

Wrapup: Senate all-nighter puts ICE in Johnson’s court

Congress got one step closer this week to funding immigration enforcement for the rest of President Donald Trump’s term, while House lawmakers dealt with more ethics fallout and wrangled behind closed doors over a key surveillance authority. But the path forward once again depends on whether Speaker Mike Johnson, R-La.,…

Roll Call

Middle East Tensions Support the Dollar

The dollar index (DXY00 ) today climbed to a 1.5-week high and is up by +0.04%. 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 Fed...

Barchart

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Bitcoin Nears $80,000 But Hedge Fund Founder Says It's Still In 'No-Trade Zone'

Bitcoin's price briefly exceeded $79,000, but a hedge fund founder thinks further gains depend on the US Fed's quantitative easing measures.

International Business Times UK

Dollar Recovers on Rising Tensions Over the Strait of Hormuz

The dollar index (DXY00 ) on Wednesday rose to a 1-week high and finished up by +0.20%. The dollar found support on Wednesday as the escalation of the US-Iran war boosted safe-haven demand for the dollar. Iran seized two ships on Wednesday in the Strait of Hormuz for "endangering maritime...

Barchart

Dollar Slips as Strength in Stocks Curbs Liquidity Demand

The dollar index (DXY00 ) today is down by -0.03%. The dollar gave up an early advance today and turned lower after a rally in stocks reduced liquidity demand for the dollar, following President Trump's announcement that he will indefinitely extend the ceasefire with Iran. Also, lower T-note yields today...

Barchart

Fed chair nominee Warsh rejects 'Trump sock puppet' label at Senate hearing

Kevin Warsh, the nominee for Chair of the US Federal Reserve, declared he has not pledged to lower interest rates to secure his position despite public calls from US President Donald Trump for immediate monetary easing.

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Wall Street won’t like it—but Kevin Warsh at the Fed may mark the end of your chatty neighborhood chairman

Until yesterday, many might have hoped that Warsh’s criticism of forward guidance was an ideal rather than an actionable opinion. They were wrong.

Fortune

Why Trump’s pick for Fed chair will not bring home the bank for the president

Kevin Warsh, Trump’s ‘central casting’, has a long road ahead of convincing board members to lower interest rates

The Guardian - US

Aussie shares fall as war dims hopes for US rate cuts

The Australian share market has dropped 1.2 per cent after Donald Trump extended a ceasefire but his pick to lead the Fed has adopted a hawkish stance.

AAP

Democrats celebrate as Virginia voters approve new congressional maps that could flip House seats in their favor – as it happened

This live blog is now closed.

The Guardian - US

Thune nudges Trump to "wrap up" Fed probe

"We all agree that Kevin Warsh is a great pick and hopefully will be confirmed."

Axios

Stocks Fall as Iran Refuses to Attend Peace Talks

The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed down -0.63%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.59%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.42%. June E-mini S&P futures (ESM26 ) fell -0.62%, and June E-mini Nasdaq futures...

Barchart

Ukraine wants to name part of its nation ‘Donnyland’ to appease Trump and end war with Russia: report

‘Donnyland’ appears to be a nod to the president’s fondness for putting his name on everything from federal buildings and skyscrapers to bank accounts and commemorative coins

The Independent UK

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Kiplinger

Stocks Turn Lower on Iran Worries: Stock Market Today

Stocks gave up early gains Tuesday on concerns the U.S.-Iran ceasefire deadline could expire without a peace deal in place.

Barchart

Dollar Advances with US-Iran Talks in Limbo

The dollar index (DXY00 ) on Tuesday rose by +0.29% and posted a 1-week high. The dollar moved higher on Tuesday on the stronger-than-expected US Mar retail sales and Mar pending home sales reports. The dollar gained further on Tuesday after stock prices slumped when Vice President Vance's trip to...

The Independent UK

Podcaster loved by Barron Trump blasts president as ‘diabolical’ over attacks on Iran

‘What American is this helping?’ the podcaster questioned, during Monday’s episode of This Past Weekend with Theo Von

The Independent UK

Internet sleuths go crazy as NFL Hall of Famer Larry Fitzgerald sits behind Trump Fed Chair pick Kevin Warsh

Eagle-eyed fans spotted the former Arizona Cardinals wide receiver in an unexpected place

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The Independent UK

Federal appeals court upholds life term for Times Square suicide bomber but overturns top count

A federal appeals court says a Bangladeshi immigrant is rightly serving a life prison sentence for a fizzled 2017 subway bombing attack beneath New York City's Times Square even though it tossed out the top charge against him

Fortune

Kevin Warsh would be one of the wealthiest Fed chairs ever and says he ‘lived the American Dream.’ Here’s what he wants for the central bank

During and after the pandemic, the Fed “missed its mark,” Warsh told senators, and the U.S. economy is “still dealing with the legacy of policy errors.”

The Guardian - US

Trump’s Fed chair pick says he’ll maintain independence – but won’t say president lost 2020 election

Kevin Warsh says ‘we need to take politics out of monetary policy’ as Elizabeth Warren calls him Trump’s ‘sock puppet’

International Business Times

Fed Chair Nominee Kevin Warsh Says Central Bank Will Remain 'Strictly Independent'

President Donald Trump's nominee to be the next chair of the Federal Reserve, Kevin Warsh, said in his confirmation hearing Tuesday that the central bank will remain "strictly independent" and rejected he will be the president's "sock puppet."

International Business Times

Questions About Fed Leadership Arise As Kevin Warsh Nomination Faces Scrutiny

Political gridlock over top economic appointments is raising questions about stability at the Federal Reserve.

Barchart

Stocks Erase Early Gains as Crude Prices Jump on Iran Concerns

The S&P 500 Index ($SPX ) (SPY ) today is down -0.13%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.13%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.02%. June E-mini S&P futures (ESM26 ) are down -0.13%, and June E-mini Nasdaq futures...

The Independent UK

Trump’s pick to replace Fed chair Jerome Powell faces Senate confirmation hearing

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