President Trump’s pick to lead the Federal Reserve, Kevin Warsh, has said he wants to bring “regime change” to the central bank, but if confirmed by the Senate he will find a Fed already transformed by the White House’s attacks.
A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest rate cuts by the Federal Reserve.
Defense Secretary Pete Hegseth faces a second day of grilling from Democrats on Capitol Hill, with senators getting their first opportunity to confront or praise the Pentagon chief over his handling of the Iran war.
The Senate Banking Committee voted on party lines to approve Kevin Warsh as the next chair of the Federal Reserve, to replace Jerome Powell, a longtime target of President Donald Trump’s insults for not cutting borrowing costs as far as the president wanted.
Jerome Powell plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk.
The Federal Reserve will meet this week ahead of a looming leadership transition that remains fuzzy, and Wednesday’s news conference will be closely watched for any clarification.
The Republican senator who had effectively blocked confirmation of President Donald Trump’s pick to lead the Federal Reserve says he's dropping his opposition after the Department of Justice ended its investigation of the current central bank chair.
President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office.
The Justice Department has ended its investigation into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of Kevin Warsh as his successor.
President Donald Trump’s nominee to chair the Federal Reserve says that he never promised the White House he would cut interest rates, even as the president renewed his calls for the central bank to do so.
President Donald Trump’s nominee to run the Federal Reserve, Kevin Warsh, is likely to face tough questions about his vast financial holdings at a hearing next week by the Senate Banking Committee.
Federal prosecutors made an unannounced visit this week to a construction site at Federal Reserve headquarters that is the focus of an investigation into a $2.5 billion renovation project, according to two people familiar with the visit.
More Federal Reserve policymakers were willing to consider an interest rate hike this year at their March meeting than in January, as higher gas prices stemming from the Iran war threatened to worsen inflation in the coming months.
Pam Bondi is out of her job after failing to deliver criminal cases against President Donald Trump’s political enemies.
Newly released court records indicate the Justice Department's investigation of a $2.5 billion renovation project at the Federal Reserve didn’t find any evidence of a crime before a judge quashed government subpoenas, dealing a severe blow to the probe.
The European Central Bank left its key interest rates unchanged Thursday and warned that the Iran war would boost inflation in the short term through higher energy prices but that the long-term impact on consumer prices and the economy was uncertain.
Oil prices jumped to market-shaking levels but then eased back late in the day, helping Wall Street to pare its losses.
U.S. stocks slumped after a report said inflation was primed to worsen even before the war with Iran sent oil prices spiking.
The Federal Reserve kept its key interest rate unchanged Wednesday and Chair Jerome Powell highlighted the increasingly uncertain outlook for the U.S. economy and inflation in the wake of the Iran war, suggesting the Fed could stand pat for an extended period.
The Iran war has scrambled the Federal Reserve’s outlook on inflation and unemployment and will likely further delay interest rate cuts this year, putting off any relief for consumers struggling with high borrowing costs for home and car purchases.
A federal judge on Friday quashed Justice Department subpoenas issued to the Federal Reserve in January, a severe blow to an investigation that has already attracted strong criticism on Capitol Hill.
The Trump administration has formally nominated Kevin Warsh, a former top Federal Reserve official, to be next Fed chair when Jerome Powell’s term ends in two months.
Federal Reserve governor Christopher Waller said Monday that solid job gains in January could mean the central bank can skip a rate cut at its next meeting in March, a move that would likely spur further attacks by President Donald Trump.
A large banner featuring Donald Trump’s face has been hung on the exterior of Justice Department headquarters in a physical display of the Republican president’s efforts to exert power over the law enforcement agency.
Republican Sen. Thom Tillis from North Carolina suggests he could support a compromise that would allow the Senate Banking Committee to start hearings on Kevin Warsh, President Donald Trump’s nominee to chair the Federal Reserve.
U.S. employers added a surprisingly strong 130,000 jobs last month, but government revisions cut 2024-2025 U.S. payrolls by hundreds of thousands.
Treasury Secretary Scott Bessent says it would be up to the president to decide whether to sue Kevin Warsh, Donald Trump's nominee for Federal Reserve chair, if he doesn't lower interest rates.
Federal Reserve governor Stephen Miran has stepped down from his position as chair of the White House’s Council of Economic Advisers, ending a controversial arrangement where he held positions at both institutions.
Prominent political and business leaders are named in the documents released by the Justice Department in connection with its investigations into Jeffrey Epstein.
A huge new tranche of files on millionaire financier and sex offender Jeffrey Epstein released Friday revealed details of his communications with the wealthy and powerful, some not long before his death by suicide in 2019.
A huge new tranche of files on millionaire financier and sex offender Jeffrey Epstein released Friday revealed details of his communications with the wealthy and powerful, some not long before his death by suicide in 2019.
Kevin Warsh has sought the job of Federal Reserve chair, off and on, since President Donald Trump first considered him for the position nearly a decade ago.
The Justice Department has opened a federal civil rights probe into the death of Alex Pretti, the Minneapolis resident killed Saturday by Border Patrol officers, according to federal officials.
President Donald Trump’s nomination of Kevin Warsh to chair the Federal Reserve could bring about sweeping changes at a central bank that dominates the global economy and markets like no other.
The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.
After two weeks of intense political and legal scrutiny, the Federal Reserve will seek to make this week’s meeting about interest rates as straightforward and uneventful as possible, though President Donald Trump probably still won’t like the result.
European leaders are finding a way to speak with one voice against President Donald Trump and they're increasingly willing to say “no” to his demands.
President Donald Trump’s plans for bringing homeownership within reach of more Americans involve pushing for lower interest rates on home loans and credit cards, and banning large institutional investors from buying single-family homes.
President Donald Trump’s bid to reshape the Federal Reserve board is putting the Supreme Court in a familiar position, weighing an emergency appeal from the president’s lawyers in a politically charged case.
Federal Reserve Chair Jerome Powell will attend the Supreme Court’s oral arguments Wednesday in a case involving the attempted firing of Fed governor Lisa Cook, an unusual show of support by the central bank chair.
The Swiss town of Davos hosts the annual meeting of elites from business, government and culture this week.
Republicans in Congress are supporting Federal Reserve Chair Jerome Powell as the Trump administration ramps up its pressure campaign against the central bank.
President Donald Trump on Friday said he would like to keep his top economic adviser, Kevin Hassett, at the White House rather than potentially nominate him to replace Jerome Powell as chair of the Federal Reserve.
The Justice Department’s investigation into Federal Reserve Chair Jerome Powell has brought heightened attention to a key drama that will play out at the central bank in the coming months: Will Powell leave the Fed when his term as chair ends, or will he take the unusual step of remaining a governor.
President Donald Trump has claimed control of Venezuela, escalated threats to seize Greenland and increased immigration raids in the U.S. These actions have created turmoil as voters prepare for midterm elections that will determine control of Congress.
JPMorgan Chase is reporting a 9% rise in adjusted profits for the fourth quarter, benefiting from a strong economy in both consumer and investment banking.
Central bankers from around the world have expressed full support for U.S. Federal Reserve Chair Jerome Powell.
Wall Street pulled back from its records following a mixed start to the latest profit reporting season for big U.S. companies.
The Trump administration’s criminal investigation of Federal Reserve Chair Jerome Powell has sparked a backlash that may undermine the White House’s goals.
Minnesota and the Twin Cities are suing the federal government to stop surge by federal immigration authorities.
Wall Street ticked to more records after bouncing back from early losses taken because of worries about the worsening feud between the White House and the Federal Reserve.
Federal Reserve Chair Jerome Powell said Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
Sluggish hiring last month closed out a year of weak employment gains that have frustrated job seekers even as layoffs and unemployment have also been low.
U.S. filings for unemployment benefits rose in the last week of 2025 but remain historically low, despite signs that the labor market is weakening.
U.S. consumers were less confident in the economy in December as Americans remain anxious about still-high prices and the impact of President Donald Trump’s sweeping tariffs.
A leading candidate to be President Donald Trump’s choice for Federal Reserve chair says he would present the president’s views to Fed officials for their consideration but they could reject them if they chose when making decisions on interest rates.
The U.S. stock market neared its all-time high after the Federal Reserve cut its main interest rate to bolster the job market, and hopes strengthened for more cuts to come in 2026.
The Federal Reserve reduced its key interest rate for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months.
President Donald Trump will road-test his claims that he’s tackling Americans’ affordability woes at a Tuesday rally in Mount Pocono, Pennsylvania.
The Federal Reserve faces an unusually contentious meeting this week that will test Chair Jerome Powell’s ability to corral the necessary support from fellow policymakers for a third straight interest rate cut.
A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to minutes released Wednesday.
What was once seen as a near-certain cut in interest rates next month now looks more like a coin flip as Federal Reserve officials sharply disagree over the economy’s health and whether stubborn inflation or weak hiring represent a bigger threat.
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, is retiring at the end of his current term in February, opening up a new seat on the Fed’s interest-rate setting committee at a time that President Donald Trump is seeking to exert more control over the central bank.
The unemployment rate is low and the economy is still growing, but those out of work face the slowest pace of hiring in more than a decade.
The U.S. stock market sank from record heights as Wall Street sifted through mixed developments on everything from the U.S.-China trade war to profits for Big Tech behemoths.
U.S. stocks bounced around their records after the Federal Reserve made moves to boost the job market but warned that more help isn’t guaranteed.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated.
Treasury Secretary Scott Bessent on Monday confirmed the names of five candidates to replace Jerome Powell as chair of the powerful Federal Reserve next year.
The Federal Reserve will almost certainly cut its key interest rate on Wednesday and could signal it expects another cut in December as the central bank seeks to bolster hiring.
Inflation has risen in three of the last four months and is slightly higher than it was a year ago.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach.
President Donald Trump’s appointee to the Federal Reserve’s Board of Governors said Monday that the central bank’s key interest rate should be much lower than its current 4.1% level, staking out a position far different than his colleagues.
The Federal Reserve’s nearly-unanimous decision Wednesday to reduce its key interest rate was seen by many observers as a quiet show of unity and independence amid President Donald Trump’s relentless pressure for steeper cuts and his unprecedented effort to fire a top Fed official.
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market.
Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
President Donald Trump’s goal of appointing a majority of the Federal Reserve’s board of governors faced a setback Tuesday when a court blocked his unprecedented attempt to fire Lisa Cook.
The U.S. job market has gone from healthy to lethargic during President Donald Trump’s first seven months back in the White House.
The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased.
