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The Latest Breaking News from Jerome Powell

Iran war pushes US inflation to 3.8% as petrol prices surge

US consumer prices rose 3.8% in April as the Iran war drove petrol costs up 28% in a year, with real wages falling for the first time in three years, according to government data.

Euronews

Inflation rises to its highest level since 2023 as fuel costs surge amid Iran war

The consumer price index climbed 3.8% from last month

The Independent UK

Why Kevin Warsh might still prove to be an independent Federal Reserve chair

Kevin Warsh is now likely to secure Senate approval on May 13, 2026, 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 Conversation

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US consumer prices rise 3.8% as Iran war sends energy prices higher

U.S. consumer prices climbed a sharply again last month as the 10-week war with Iran pushed energy prices higher

The Independent UK

Virginia Democrats ask conservative-majority US supreme court to restore congressional map approved by voters – as it happened

This live blog is now closed.

The Guardian - US

Energy Leads S&P 500 to Another New High: Stock Market Today

Peace in the Middle East appears to be a distant prospect, but investors, traders and speculators are focusing on other fundamental factors.

Kiplinger

Warsh moves closer to Fed role with Senate cloture vote

The Senate moved a step closer to confirming Kevin Warsh, the nominee for chairman of the Federal Reserve Board, with a procedural vote Monday. The Senate voted 49-44 to invoke cloture on Warsh’s nomination to the Fed board. The chamber will later need to take a distinct vote on his…

Roll Call

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US Senate expected to confirm Kevin Warsh as next Federal Reserve chair

Warsh would succeed outgoing Fed chair Jerome Powell as Trump continues his push to influence the US central bank

The Guardian - US

Fed Officials Voice Growing Concern Over Inflation And Supply Chain Pressure From Iran War

Officials at the Federal Reserve are increasingly concerned over the economic fallout from the US-Israeli war with Iran, with several of them warning that inflation risks are becoming harder to contain as the conflict drags on.

International Business Times

Whatever Evidence the DOJ Has Against James Comey, It Cannot Transform '86 47' Into a Death Threat

Acting Attorney General Todd Blanche implausibly claims prosecutors can prove Comey "knowingly and willfully" threatened to murder the president.

Reason

Ballroom blitz: Trump bombards Truth Social with posts pushing for his beloved White House event space

President Donald Trump remains fixated on his under-construction social venue, work on which has been stalled by a lawsuit, posting a series of demands from conservatives that it be completed

The Independent UK

3 Ways Kevin Warsh Will Change the Fed

The Senate has confirmed President Trump's nominee, and though he can't cut rates all by himself, there are three things Kevin Warsh can do to change the Fed.

Kiplinger

Kevin Warsh's Stance On The Fed's Independence Draws Scrutiny Amid Nomination Push: Report

Kevin Warsh's views on Federal Reserve independence are drawing fresh scrutiny as he moves closer to becoming the next chair of the central bank, according to a new report.

International Business Times

Fed up or down with Don? How independent Trump nominee Kevin Warsh will be as Fed chair matters far beyond the US

A major global financial moment is approaching as attention turns to the US Federal Reserve leadership transition and its wider impact on monetary policy. Federal Reserve is set for a leadership change as Kevin Warsh has been nominated by Donald Trump to replace Jerome Powell when his term ends on…

The Economic Times

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The Independent UK

Acting AG Todd Blanche claims Comey case isn’t about ‘single incident’ as he’s grilled on indictment

Comey posted a photo showing seashells spelling out the numbers ‘86 47’, an apparent reference to calls to remove Trump from office

Fortune

Fed whisperer splits on Powell: A+ as steward, but ‘I don't think you could give him high marks on the economy’

"I think they made a lot of mistakes under his leadership, on the economics and the monetary policy."

Fortune

By staying on the Fed's board, Jerome Powell could be doing incoming Chairman Kevin Warsh a huge favor

Powell will still be around to be Trump’s punching bag and take at least some of the flak for Warsh.

The Independent UK

Trump approval rating so low on inflation he ‘broke the scale,’ pollster says

President’s numbers remain dismally low, sparking concerns about whether Republicans will lose the House of Representatives in November

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International Business Times

Trump Says He Doesn't Care If Jerome Powell Stays In The Fed As Governor

President Donald Trump said he doesn't care whether Jerome Powell remains as governor of the Federal Reserve if Kevin Warsh is confirmed as the body's next chair.

Fortune

‘This is not normal’: Former Fed economist sounds alarm on Kevin Warsh after one-sided confirmation

Claudia Sahm worked with Warsh when they were at the Fed but doesn’t know him personally. She told Fortune that his disrespect for Democrats was striking.

Barchart

S&P 500 and Nasdaq 100 Rally to Record Highs on Earnings Optimism

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +1.02%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +1.62%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.98%. June E-mini S&P futures (ESM26 ) rose +1.01%, and June E-mini Nasdaq futures...

Axios

Kevin Warsh's challenges become clear after Fed chair Powell's last hurrah

The incoming chair will have to achieve his goals of rewiring how the Fed operates and potentially cutting rates through persuasion, not a writ from the chair's office.

Barchart

Forget the Interest Rate: The Real War Is Over the Fed’s Balance Sheet

Kevin Warsh's "Regime Change" isn't just about names; it's about dismantling 18 years of monetary philosophy. Prepare for a return to pre-2008 volatility as the Federal Reserve prepares to pull the plug on excess liquidity in favor of raw market mechanics.

Barchart

Stocks Rally as Nasdaq 100 Posts a New Record High on Tech Earnings

The S&P 500 Index ($SPX ) (SPY ) today is up +0.39%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.20%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.17%. June E-mini S&P futures (ESM26 ) are up +0.35%, and June E-mini Nasdaq futures...

Barchart

Stocks See Support from Lower Crude Prices, While Mega-Cap Tech Earnings are Mixed

The S&P 500 Index ($SPX ) (SPY ) today is up +0.08%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.73%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.18%. June E-mini S&P futures (ESM26 ) are up +0.11%, and June E-mini Nasdaq futures...

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