Economic News

The Senate voted Tuesday to confirm Kevin Warsh to the Federal Reserve's board of governors and also voted to advance his nomination to serve as chairman of the central bank, where he will have significant influence over future interest rates. The Senate voted 51 to 45 to confirm Warsh to the Fed's board of governors and then voted 51-45 to advance his…

The nomination of Kevin Warsh as Federal Reserve chair is reviving a debate about Fed independence. Kevin Warsh is now likely to secure Senate approval as the next Federal Reserve chair– and become arguably the most powerful central banker in the world. On one level, the question reflects President Donald Trump's intense pressure on the central bank to cut…

The U.S. Senate voted Tuesday to confirm Kevin Warsh as a member of the Federal Reserve Board of Governors, putting President Donald Trump's pick one step away from the position of Fed chair. The Senate vote to confirm Warsh as leader of the seven-member Board of Governors is expected Wednesday, CNBC reported. John Fetterman, D- Pa., who voted to confirm Warsh.

Kevin Warsh is now likely to secure Senate approval as the next Federal Reserve chair– and become arguably the most powerful central banker in the world. But when Warsh appeared before the Senate Banking Committee for his confirmation hearing in April, one punchy question underscored the dilemma that Warsh, lawmakers and the Fed all face:.

—U.S. consumer prices climbed sharply again last month as the 10- week war with Iran pushed energy prices higher. The Labor Department's consumer price index rose 3.8% from April 2025, according to data released Tuesday. “Inflation is the key drag on the U.S. economy now,” Heather Long, chief economist at Navy Federal Credit Union wrote.“ There is a real financial…

The Senate voted on Monday to advance the nomination of Kevin Warsh to the Federal Reserve Board of Governors, putting him on track to be confirmed later this week to replace Jerome Powell as chairman of the Federal Reserve. The Senate voted 49-44 to advance the nomination, a development that was expected after the Senate Banking Committee voted 13-11 along…

The Indian government and central bank are struggling to control a weak Rupee by making several interventions to prevent its continued depreciation to record lows. The weakness is caused by the recent crude oil price shock and India's huge structural demand for US Dollar. However, the Reserve Bank of India and the Indian government are working hard to try to…

Staffers of the Federal Reserve bank system are providing financial backing for the Democratic Party's lurch toward the far left, a Washington Free Beacon analysis found. Political donations from the Fed staff have a sharp partisan tilt toward Democrats. Lander has the endorsement of socialist senator Bernie Sanders and socialist mayor Zohran Mamdani and…

Federal Reserve Chair Jerome Powell's eight-year term comes to an end this week, a term that saw a global pandemic that spiked unemployment, the highest inflation rate in 40 years and President Trump's attempts to undermine the Fed's independence. Patrick Harker was president of the Federal Reserve Bank of Philadelphia from 2015 to 2025.

Federal Reserve Chair Jerome Powell said recently he intends to remain on the central bank’ s board after his term as chairman ends on May 15— unless the Justice Department ends "with finality and transparency" its criminal investigation into the Fed’ s renovations of its headquarters. Powell’ s successor as chair is more or less decided, following the Senate…

For about 1 in 7 payments, consumers still pay with cash despite the growing proliferation of digital payment options, according to the 2026 Diary of Consumer Payment Choice, the annual survey from Federal Reserve Financial Services measuring the evolving role of cash in the U.S. economy. Now in its 10th year, the national survey revealed that U.S. consumer…

Jerome Powell is finished as Federal Reserve Board chairman, but he has time left in his term, so he is sticking around. In 2008, prior to the advent of "quantitative easing," the M2 supply was $7 trillion… today it is $22.7 trillion. If you have a $100 bill in your wallet, $69 of those dollars were printed in the last 18 years, the other $31 were printed in the century before.

The following information was released by the European Central Bank:. Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Fifth Annual Charles Goodhart Lecture. That was the key message conveyed by Jerome Powell at his final press conference, explicitly referring to the "legal attacks" on the Federal Reserve.

The following information was released by Georgia Senator Reverend Raphael Warnock:. Washington, D.C. Last week, U.S. Senator Reverend Raphael Warnock voted "NO" on the nomination for Federal Reserve Chair nominee Kevin Warsh in the Banking Committee, citing his grave concerns about the independence of the Federal Reserve, which directly impacts inflation and…

The launches, originally expected this week, have been pushed back as the SEC seeks more information from issuers about product mechanics and disclosures, two people familiar with the matter said. Under SEC rules, ETFs are automatically effective 75 days after filing, unless the SEC steps in. A spokesperson for the SEC, which has taken a more relaxed stance toward…

What I want to talk about is central bank independence but applied to Reserve Bank operations. But much of the day-to-day operations of the Reserve Banks are not connected to monetary policymaking, and I recently gave a speech at the Brookings Institution where I suggested some improvements to the efficiency of Reserve Bank operations.

The Federal Reserve Board on Friday announced its approval of related applications by Columbia Bank MHC, and Columbia Financial, Inc., both of Fair Lawn, New Jersey. The approvals allow the banking organization to have a new top-tier holding company, Columbia Financial, Inc., which would become a savings and loan holding company by acquiring Columbia Bank, of…

The following information was released by the Federal Reserve Board:. Among them were the following: Why did a ballpoint pen that cost $0.10, at that time, in the United States cost the equivalent of $10 in Senegal? That included working in Rwanda and East Africa in the late 1990 s and early 2000 s, where M-Pesa, a mobile phonebased money transfer service, and other…

The following information was released by the Federal Reserve Board:. Good afternoon and thank you for the invitation to join you at the Hoover Institution's annual Monetary Policy Conference. 1 As the Federal Reserve's Vice Chair for Supervision, I oversee the safety and soundness of banking institutions, responsibilities that are closely linked to…