Kevin Warsh, President Donald Trump’s nominee to serve as the 17th chairman of the Federal Reserve, faced sharp questioning from senators on Tuesday at his confirmation hearing. Warsh asserted that he would not be the president’s “sock puppet” when determining interest rate decisions. Warsh, a former Fed governor who served during the 2008 financial crisis, […]
Senate questions Warsh on $100M-plus holdings and Fed ethics Read More »
Key takeaway: Federal Reserve Gov. Christopher Waller said he wants to consolidate the corporate functions of the 12 regional banks under one structure and create a role to oversee them. Expert quote: “Autonomy is a virtue, but not when it produces costly duplication that serves no one. We owe this to the American people we
Fed’s Waller calls for consolidating regional bank operations Read More »
Key insight: The fight over Federal Reserve independence has made confirming Warsh politically impossible, with one Republican senator blocking Kevin Warsh’s approval by the Senate Banking Committee. Forward look: Should the Senate not confirm a Fed chairman, it’s unclear who will helm the central bank when outgoing Fed Chair Jerome Powell’s term expires in mid-May.
Warsh insists he wouldn’t do Trump’s bidding as Fed chair Read More »
The U.S. housing market is chronically underbuilt, resulting in a decades-long shortage. Burdensome regulations take part of the blame, but they are not the only cause. A new report from the Federal Reserve Bank of St. Louis indicates that regulations are just one piece of the puzzle. Labor shortages, land constraints, and rising building, borrowing
America’s housing shortage stems from more than overregulation, Fed report finds Read More »
Key insight: President Donald Trump says he will remove Fed Chair Jerome Powell from the central bank if he does not leave after his term expires on May 16. Trump also said his administration will not drop its probe into Powell over renovations at the central bank’s headquarters. Expert quote: “I’ll have to fire him
Trump threatens to fire Fed Chair Powell if he doesn’t resign Read More »
Key insight: Sen. Elizabeth Warren, D-Mass., is pressing the Fed for records on Kevin Warsh’s actions during the 2008 financial crisis, arguing he downplayed subprime risks and helped funnel taxpayer-funded bailouts to major Wall Street firms. Forward look: Warsh’s path to confirmation is already complicated, with Democrats uniformly opposed and Republican Sen. Thom Tillis withholding
Exclusive: Warren to probe Warsh on his role in 2008 crisis Read More »
Key takeaway: Federal Reserve Gov. Michael Barr said tariffs and the Iran war are short-term pressures on rural communities, while artificial intelligence will have longer-term, mixed effects. Expert quote: ‘Given rapidly changing circumstances, it is too early to know the path for prices as events in the Middle East unfold.” — Federal Reserve Gov. Michael
Fed’s Barr says tariffs, geopolitics weigh on rural areas Read More »
Key insight: Former Federal Reserve Vice Chair for Supervision Randal Quarles said in a speech Friday that members of the Fed board should serve at the pleasure of the president, but added that keeping regional Fed bank presidents on the Federal Open Market Committee and ensuring their appointments are not influenced by the White House
Former Fed official argues against Fed independence Read More »
As crazy as this may sound, the jobs data in 2026 has improved from the levels of 2025. That’s how low the bar was this year for growth and today’s jobs report reaffirmed that. Now, with a bar so low we can all trip over it, context is key. Over the last six months of
So far, 2026 job growth is better than 2025 Read More »
Processing Content Key insight: Payrolls increased modestly in March, adding 178,000 new hires Supporting data: The unemployment rate held steady at 4.3%. Forward look: Concentrated hiring in certain sectors, with simultaneous layoffs in others, could test the Fed’s patience on rate cuts. U.S. job growth rebounded in March, with nonfarm payrolls rising by 178,000 after
Jobs rebound in March, unemployment at 4.3% Read More »