Economic News

-Senators grilled Kevin Warsh, President Donald Trump's nominee to lead the Federal Reserve, over his asset disclosures and independence from the president's decision-making. John Kennedy, R- La., asked Warsh if Trump told him to cut interest rates when offered the position of chairman. Trump and the current chairman of the Federal Reserve, Jerome Powell, have…

As Kevin Warsh faces senators, the stakes go beyond one nomination. He's arguing the Federal Reserve should stay independent on interest rates and step back from roles that go beyond its core mission, as President Trump pressures the central bank and inflation remains a top concern. Here& Now's Scott Tong talks with Marketplace's Kimberly Adams about what…

Chairman Scott Champions Kevin Warsh as Next Chair of the Federal Reserve. Senate Banking Committee Chairman Tim Scott today convened a hearing to consider the nomination of Kevin Warsh, President Trump's pick to serve as a Governor and Chair of the Federal Reserve, as the central bank begins its transition to a new era of leadership. Today's hearing marks a…

Elizabeth Warren, D- Massachusetts, ranking member of the Senate Banking, Housing and Urban Affairs Committee, issued the following news release on April 21, 2026:. Today, U.S. Senator Elizabeth Warren, Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, questioned President Trump's nominee for Chair of the Federal Reserve, Kevin Warsh,…

President Donald Trump has again threatened to oust Federal Reserve Chair Jerome Powell, putting at risk a keystone of good economic policy and inflation management: central bank independence. Powell has said he intends to remain at the helm after that if his replacement has not yet been confirmed by the Senate. Trump has promised to fire Powell a number of…

—Kevin Warsh, President Trump's nominee for chairman of the Federal Reserve, declined to say Tuesday whether former President Biden defeated Trump in the 2020 election. Elizabeth Warren, the ranking member on the Senate Banking Committee, whether Biden won the 2020 election, Warsh replied, "We try to keep politics, if I'm confirmed, out of" the Fed.

Kevin Warsh, President Trump's nominee to serve as the next chair of the Federal Reserve, faces a tough fight for confirmation— partly over events for which he has no control. The Senate Banking Committee held a confirmation hearing for Warsh on Tuesday— but already one GOP senator has said he will block a vote on the nominee until the Department of Justice drops an…

President Trump's pick to occupy that post was quizzed today by members of a Senate committee about his approach to interest rates, inflation and a president who likes to get his own way. NPR's Scott Horsley joins us now. SUMMERS: So, Scott, I mean, the Federal Reserve is supposed to operate independently of the White House, but President Trump has not been shy at all…

U.S. Senator Tim Scott, Chairman of the Senate Banking Committee, today convened a hearing to consider the nomination of Kevin Warsh, President Trump's pick to serve as a Governor and Chair of the Federal Reserve, as the central bank begins its transition to a new era of leadership. In his opening statement, Sen. Scott stressed the direct impact Federal Reserve…

Mr. Warsh pledged not to cave to political pressure after Mr. Warsh’ s confirmation hearing before the Senate Banking Committee, Mr. Trump told CNBC that he would be disappointed if his choice for Fed chair did not immediately cut interest rates. I will be an independent actor if confirmed as chair of the Federal Reserve,” Mr. Warsh told the committee.

Thom Tillis said Tuesday that he fully supports Kevin Warsh's nomination to be the next Federal Reserve chair, but will continue to block confirmation until the Justice Department drops its investigation into current Chairman Jerome Powell. For Mr. Warsh to advance, he must earn a majority of votes on the Senate Banking Committee, which is composed of 13…

Federal Reserve Chairman nominee Kevin Warsh on Tuesday called for a "regime change" at the central bank, saying it bungled monetary policy during the COVID pandemic and American consumers are still paying the price. Mr. Warsh testified before the Senate Banking Committee that if confirmed, he would overhaul Fed policy, including adopting a new "inflation…

Kevin Warsh, nominated to be the next Federal Reserve chairman, told lawmakers at his confirmation hearing Tuesday that he's committed to maintaining the central bank's independence to set interest rates, but said pressure from outside does not threaten its autonomy. Mr. Trump, who originally nominated current Chair Jerome Powell during his first term in…

With U.S. Attorney Jeanine Pirro continuing to investigate Mr. Thom Tillis, North Carolina Republican, is unlikely to permit the Senate Banking Committee to clear Kevin Warsh’ s nomination to succeed him as chairman of the Federal Reserve Board. U.S. imports from China are down, but purchases have shifted significantly to other foreign sources such as Mexico,…

Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, asserted repeatedly at a combative confirmation hearing Tuesday that he would not cut interest rates simply because Trump wanted him to, pledging to be "strictly independent" if confirmed for one of the world's most powerful economic positions. In sometimes testy exchanges before the…

Thom Tillis doubled down in a committee hearing Tuesday morning that he will not confirm President Donald Trump’ s nominee to lead the Federal Reserve System unless an investigation into the current chairman is dropped. Tillis, a Republican from Huntersville, said during a Senate Committee on Banking hearing Tuesday morning that he believes Kevin Warsh is…

The Senate Banking Committee is scheduled to hold a confirmation hearing Tuesday for Kevin Warsh, the former Fed board member Trump nominated to replace Powell as Fed chair. Thom Tillis has vowed to block any Trump Fed nominee, including Warsh, until the Justice Department wraps up its probe into the bank. "Tillis is taking a strong stand, daring Trump to wait his…

–Kevin Warsh, President Trump's nominee for chairman of the Federal Reserve, declined to say Tuesday whether former President Biden defeated Trump in the 2020 election. Elizabeth Warren, the ranking member on the Senate Banking Committee, whether Biden won the 2020 election, Warsh replied, "We try to keep politics, if I'm confirmed, out of" the Fed.

Senators grilled Kevin Warsh, President Donald Trump’ s nominee to lead the Federal Reserve, over his asset disclosures and independence from the president’ s decision-making. John Kennedy, R- La., asked Warsh if Trump told him to cut interest rates when offered the position of chairman. Trump and the current chairman of the Federal Reserve, Jerome Powell, have…