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Don't count on rate cuts just yet: Warsh as Fed chair may not lead to big policy changes

Don't count on rate cuts just yet: Warsh as Fed chair may not lead to big policy changes

President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office
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Senator Tillis Ends Blockade, Paves Way for Fed Chair Nominee Kevin Warsh

Senator Tillis Ends Blockade, Paves Way for Fed Chair Nominee Kevin Warsh

Senator Thom Tillis announced his decision to end the blockade against Federal Reserve chair nominee Kevin Warsh following the Department of Justice's decision to drop its investigation into current Fed Chair Jerome Powell. This move clears the path for Warsh to potentially replace Powell when his term expires in mid-May. Tillis had previously withheld his support due to concerns over the DOJ's investigation into Powell, which involved alleged cost overruns at the Federal Reserve building. With Tillis's backing, Warsh's confirmation by the Senate Banking Committee is expected to proceed smoothly, with a full Senate vote anticipated soon.
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DOJ Ends Criminal Probe of Fed Chair Powell, Easing Path for Trump's Nominee Warsh

DOJ Ends Criminal Probe of Fed Chair Powell, Easing Path for Trump's Nominee Warsh

The Department of Justice has terminated its criminal investigation into Federal Reserve Chair Jerome Powell, which was centered on a multi-billion-dollar renovation project at the Fed's headquarters. This decision, announced by Jeanine Pirro, the top federal prosecutor in D.C., comes after a federal judge quashed subpoenas related to the investigation. The probe's conclusion removes a significant barrier to the Senate confirmation of Kevin Warsh, President Trump's nominee to replace Powell. The investigation had been criticized as a means to pressure Powell into aligning with Trump's interest rate policies. The Inspector General of the Federal Reserve will now conduct a review of the project's cost overruns, which had been the basis for the DOJ's investigation.
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Senate Panel Advances Kevin Warsh's Nomination as Fed Chair After Powell Probe Dropped

Senate Panel Advances Kevin Warsh's Nomination as Fed Chair After Powell Probe Dropped

A Senate committee has scheduled a vote to advance Kevin Warsh's nomination to lead the Federal Reserve, following the closure of a criminal investigation into current Fed Chair Jerome Powell. U.S. Attorney Jeanine Pirro announced the end of the probe, which had been a significant barrier to Warsh's confirmation. The investigation focused on Powell's testimony regarding the Fed's $2.5 billion headquarters renovation. The Senate Banking Committee, led by Republicans, plans to vote on April 29. The committee holds a narrow 13-11 majority, meaning a single Republican defection could affect the outcome. Democrats, led by Sen. Elizabeth Warren, remain critical, citing concerns over Fed independence and President Trump's influence on the nomination process.
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Senator Thom Tillis Supports Kevin Warsh's Fed Nomination Amid DOJ Probe Concerns

Senator Thom Tillis Supports Kevin Warsh's Fed Nomination Amid DOJ Probe Concerns

Republican Senator Thom Tillis, a member of the banking committee responsible for approving Federal Reserve nominees, has announced his support for Kevin Warsh's appointment as the next Federal Reserve Chair. This decision follows Tillis's previous blockage of Warsh's nomination due to a Justice Department investigation into current Fed Chair Jerome Powell. The investigation, which was recently dropped, was initiated after President Trump expressed dissatisfaction with Powell's handling of interest rates and the central bank's renovation project. Tillis emphasized the importance of maintaining the central bank's independence and expressed concerns that the investigation could have had severe implications for global financial systems.
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Senator Tillis Ends Blockade on Fed Chair Nominee Kevin Warsh, Paving Way for Confirmation

Senator Tillis Ends Blockade on Fed Chair Nominee Kevin Warsh, Paving Way for Confirmation

Senator Thom Tillis has announced his decision to end the blockade on the confirmation of Kevin Warsh as the next Federal Reserve Chair. This decision follows the U.S. Department of Justice's decision to drop its criminal investigation into current Fed Chair Jerome Powell. With Tillis's support, Warsh's confirmation is now likely, as the Senate Banking Committee prepares to vote on his nomination. Tillis had previously withheld his vote pending assurances that the DOJ would not use its powers to threaten the Fed's independence. Warsh, nominated by President Trump, is expected to bring significant changes to the Fed, including potential rate cuts and a new approach to measuring inflation.
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US Senator Tillis says he's ready to advance confirmation of Warsh as Fed chair

US Senator Tillis says he's ready to advance confirmation of Warsh as Fed chair

April 26 (Reuters) - Republican Senator Thom Tillis on Sunday said he would allow Senate confirmation of Federal Reserve chair nominee Kevin Warsh to go forward after the Department of Justice on Friday dropped an investigation into Fed Chair Jerome Powell that Tillis viewed as a threat to the
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Federal Reserve Chair Nominee Kevin Warsh Faces Challenges in Implementing Interest Rate Cuts Amid Rising Inflation

Federal Reserve Chair Nominee Kevin Warsh Faces Challenges in Implementing Interest Rate Cuts Amid Rising Inflation

Federal Reserve Chair Nominee Kevin Warsh Faces Challenges in Implementing Interest Rate Cuts Amid Rising Inflation
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Take Five: Lots of talk, lots of tech

Take Five: Lots of talk, lots of tech

April 24 (Reuters) - Next week combines the big three obsessions for investors right now - the war in Iran, the path of interest rates and the AI boom.
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Morning Bid: Schrödinger’s ceasefire

Morning Bid: Schrödinger’s ceasefire

By Anna Szymanski April 24 (Reuters) - Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend. From the Editor Hello Morning Bid readers!
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Warsh's quest for better inflation data is a well-worn, difficult pursuit for Fed

Warsh's quest for better inflation data is a well-worn, difficult pursuit for Fed

By Howard Schneider WASHINGTON, April 24 (Reuters) - Federal Reserve Chair nominee Kevin Warsh has called for a major rethink of how to measure inflation, but he may have less trouble finding new ideas at the central bank than in choosing from an expanding set of alternate models, measures and
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Soaring US stocks face pivotal week of tech-led earnings, Fed meeting

Soaring US stocks face pivotal week of tech-led earnings, Fed meeting

By Lewis Krauskopf NEW YORK, April 24 (Reuters) - A scorching U.S. stock rally faces a test from a mammoth week of corporate results led by major technology companies, along with a Federal Reserve meeting that could mark the end of Jerome Powell's tenure as head of the U.S. central bank.