All articles tagged with #warsh
A Senate hearing for Kevin Warsh’s Federal Reserve chair nomination has been postponed because the Banking Committee hasn’t received required paperwork, delaying a planned April hearing and clouding a mid‑May confirmation as Sen. Thom Tillis blocks the nomination until DOJ drops a criminal probe into Powell.
Fed Chair Jerome Powell said he will remain in his role even if Kevin Warsh’s confirmation fails, signaling continuity in U.S. monetary policy leadership as Warsh’s nomination lingers.
President Trump endorses a DOJ criminal probe of Fed Chair Jerome Powell tied to Powell’s testimony about the Federal Reserve HQ renovation, a move that could delay the confirmation of Trump’s pick to replace Powell, Kevin Warsh. Powell says he expects to stay on as acting chair if no successor is confirmed, while a federal judge ruled that subpoenas in the probe were a pretext to pressure rate cuts; Sen. Thom Tillis says he will not vote on nominees until the probe is resolved.
The Federal Reserve kept the federal funds rate at 3.5%-3.75% and Powell said he will serve as chair pro tempore until a successor is confirmed. Warsh’s nomination is blocked by Sen. Tillis amid a criminal investigation, with Powell indicating he won’t leave the board until that matter is resolved. The Fed’s projections show at least one rate cut possible this year, but officials remain divided about the path ahead as inflation risks rise from energy prices and geopolitical tensions.
Powell’s term as Fed chair ends in mid‑May, but the path to selecting his successor—Kevin Warsh—remains murky amid a DOJ subpoena fight, a judge’s ruling that complicates the case, and political opposition in the Senate, leaving multiple scenarios as inflation and energy costs stay elevated.
A DOJ probe into the Fed’s headquarters renovations, led by Jeanine Pirro, complicates Kevin Warsh’s bid to become Fed chair as Jerome Powell’s investigation continues, prompting Republican hesitancy and Democratic resistance in the Senate and underscoring tensions between political influence and Fed independence as Powell’s term nears its end.
A federal judge dismissed DOJ subpoenas aimed at Federal Reserve Chair Jerome Powell, saying the move appeared to harass and pressure Powell to ease policy and produced no evidence of criminal wrongdoing; the DOJ plans to appeal, potentially delaying the nomination of Kevin Warsh to lead the Fed as Powell’s term ends in May and concerns over the Fed’s independence persist.
President Trump formally nominated Kevin Warsh to be the next chair of the Federal Reserve, potentially succeeding Jerome Powell for a four-year term if the Senate confirms him. The transmittal comes after Trump publicly pushed for Warsh, but Sen. Thom Tillis has indicated he would block the nomination until a federal probe into Powell is dropped. Powell has said he is under investigation related to the $2.5 billion renovation of the Fed HQ, and Trump’s clashes with leaders like Powell and Lisa Cook have shaped expectations around Fed policy and leadership.
Fed officials remain divided on AI’s impact on policy: former governor Kevin Warsh argues AI adoption could boost productivity and justify lower rates, while Fed Governor Michael Barr says the AI boom is unlikely to meaningfully push rates down in the near term and warns that productivity gains could lift the neutral rate, suggesting only limited or gradual easing ahead.
Sen. Thom Tillis says Kevin Warsh’s bid to be Fed chair could face a long confirmation due to restrictions on a nominee’s business life, and he will oppose any Fed confirmation until the DOJ resolves its investigation into Chair Jerome Powell, casting doubt on Warsh’s path as Trump’s pick awaits Senate action.
As Fed Chair Jerome Powell’s term ends in May and Kevin Warsh is nominated to succeed him, markets anticipate rate cuts paired with balance-sheet shrinkage. The piece highlights three ETFs that could benefit: Financial Select Sector SPDR (XLF) for banks from lower rates, iShares Core S&P Small-Cap (IJR) for rate-sensitive small caps, and iShares US Real Estate (IYR) for REITs that historically outpace stocks after easing cycles. Consider XLF, IJR, and IYR as potential beneficiaries amid the policy shift.
Sen. Elizabeth Warren is leading Democrats against Donald Trump’s pick for Fed chair, Kevin Warsh, arguing his past hawkish stance raising the prospect of political influence over policy would undermine the Fed’s independence. With Republicans in the Senate majority, her effort to delay or derail Warsh faces an uphill battle as the nomination moves forward amid broader tensions over inflation, Powell’s leadership, and political pressure on the central bank.
Trump’s pick for Fed chair, Kevin Warsh, would push to curb the Fed’s regulatory powers and hand some supervision to the Treasury, signaling an aggressive deregulation agenda that could reshape banking oversight and affect Basel III and liquidity rules if confirmed.
Sen. Tim Scott said Powell did not commit a crime during his Senate testimony and predicted Sen. Thom Tillis will drop his blockade of Kevin Warsh’s Fed chair nomination; Tillis has vowed to oppose Warsh until the DOJ probe into Powell ends. Scott criticized Powell as unprepared but insisted the inquiry does not imply criminal conduct, as Trump pressures the Fed on rate decisions and the investigation surrounding Powell’s testimony continues.
Sen. Thom Tillis pledges to block Kevin Warsh's Fed nomination until the Justice Department completes its probe into Fed Chair Jerome Powell over HQ renovation costs, and says he’d maintain the blockade even if DOJ drops the inquiry in exchange for Powell leaving the Fed after his term; Powell could stay on the board as a governor for up to two more years, and Tillis criticizes the subpoenas as premature.