American central banker, chair of the Federal Reserve since 2018
Alphabet and peers are expanding AI data-center investments, driving up memory-chip prices and electricity costs while free cash flow turns negative for the quarter. Revenue remains strong as AI demand grows, but capital expenditure is set to rise into 2027.
The Federal Reserve has kept its target range at 3.5%-3.75%, with three regional presidents dissenting in favor of a quarter-point rate increase. Chair Warsh has emphasised inflation as a priority while signalling uncertainty about future moves. Markets have priced in possible action later this year as data rolls in.
The Federal Reserve has held rates steady under chair Kevin Warsh while signaling inflation remains above target. Markets are pricing in a potential rate hike later this year as dissents and communications style shape expectations.
Global stocks have rallied this month after officials reported progress in talks to reopen the Strait of Hormuz, and a string of strong corporate earnings has bolstered investor sentiment. Treasuries and oil prices have fallen as traders pare back expectations for near-term Fed hikes; strategists warn valuations and one-off earnings boosts limit further upside.
Todd Blanche has posted written orders that rescind a May directive creating a $1.8bn "anti-weaponization" fund and that limit broad IRS audit protections in a settlement with Donald Trump. Senators John Cornyn and Thom Tillis have said they will support advancing his nomination to the full Senate, though Democrats and legal experts have said the written assurances leave room to revive the fund.
Dissenting Fed officials have argued that inflation remains elevated and supply shocks persist, calling for a series of small rate increases to curb inflation. The majority maintains rates as the economy holds steady, with the coming months likely to test the hawks’ case.
The FAA has opened a safety review after Marine One, carrying the president, has had a momentary loss of separation with a commercial regional jet departing Ronald Reagan Washington National Airport on Tuesday afternoon. Both aircraft have landed safely; the NTSB is gathering information and considering an investigation.
Warsh has moved to reduce forward guidance and may cut meetings, aiming to give the Fed more flexibility as markets react to his new approach while inflation remains above target.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.
The president has repeatedly stressed independence as he engages with Federal Reserve Chair Warsh, marking a shift from the Powell era. Officials say Warsh is steering decision-making with the president’s confidence, while questions about Fed independence persist.
The White House has told Federal Reserve Governor Adriana Cook that the president is "considering" removing her and has given her until Aug. 26 to answer mortgage-fraud allegations. The letter, signed by Dan Scavino and dated Aug. 5, revives claims first raised in 2025 after the Supreme Court this year blocked an earlier firing attempt.
The Senate has confirmed Todd Blanche 50–49 as U.S. attorney general and he has been sworn in at the White House. Blanche has led the Justice Department in an acting capacity since April, previously served as the president’s private lawyer, and has rescinded a proposed $1.8bn compensation fund amid bipartisan concern about politicising the department.
The reflecting pool project has drawn attention as officials attribute damage to a botched installation rather than vandalism. President Trump has criticized the attorney for the District of Columbia, Jeanine Pirro, amid questions about how the case was handled. Hearn faces potential charges for destruction of government property, but those charges were dropped after investigators blamed faulty installation.
President Donald Trump has named Will Scharf as White House counsel and assistant to the president, effective Sept. 1. Scharf has served as White House staff secretary and chaired the National Capital Planning Commission; he has represented Trump in major cases, including at the Supreme Court. The change comes weeks after Trump elevated other former personal lawyers to senior legal roles.
The Treasury has expanded its bond-buyback program to support longer-dated debt, but yields on the 10-year and 30-year Treasuries have remained elevated as debt levels and deficits draw scrutiny. Investors are weighing the impact on mortgages, AI infrastructure funding, and policy uncertainty across multiple outlets.
The White House has renewed its effort to remove Federal Reserve Governor Lisa Cook over mortgage‑related allegations. Cook has responded with a formal filing arguing there is no legal basis for her removal; the Supreme Court previously blocked a firing attempt and left room for due process.
Federal Reserve Chair Kevin Warsh has told the Jackson Hole symposium that recent inflation readings have not shown that underlying trends have meaningfully improved and that short-term rates remain the Fed's primary tool. Markets have pushed up Treasury yields and raised odds of a September rate increase as officials debate whether to tighten policy.
President Donald Trump has threatened to block Canadian manufacturer Bombardier from selling aircraft in the United States as Ottawa and Washington have exchanged tariffs on roughly $20–28 billion of goods. Canada has imposed retaliatory levies of 15–50%, and Bombardier has said it employs thousands in the US and sources components from 47 states.
Central banks have tightened policy in response to a surge in energy prices and persistent inflation. The US Federal Reserve has raised its policy rate to 3.75–4.00% and signalled further hikes; the ECB has lifted its key rate to 2.50%; the Bank of England has held at 3.75% but warned higher energy costs will force future rises. Markets have repriced yields and mortgage costs are rising.
The Federal Reserve has raised the federal funds rate by a quarter point to 3.75%-4.0% to tame inflation. The move will ripple through borrowing costs and savers. Credit-card rates, car loans, and mortgage-finance costs are likely to rise, while savers may enjoy higher deposit yields. The hike is the first since July 2023 and follows energy-price pressures.
The Federal Reserve has raised rates by a quarter-point to 3.75%-4% in a unanimous decision. CPI data show a 5.9% monthly jump in wireless bills, contributing to higher core inflation. Analysts say the move is aimed at cooling inflation, while households face higher borrowing costs.
The Federal Reserve has hiked rates by 25 basis points to 3.75%–4.00%, with most policymakers signaling at least one more increase this year. The move comes amid persistent inflation and energy-price shocks linked to the Iran conflict and tariff policies.
Oil prices have fallen after data showed Asia is set to import its highest monthly crude volume since the US–Iran war began, while traders continue to monitor UN‑level diplomacy and regional tensions. Brent has slipped near $102 a barrel and U.S. crude is trading in the low $90s as markets weigh rising Asian flows against Middle East risks.
The Federal Reserve's inspector general has found major management and oversight failures in a $2.4bn–$2.5bn renovation of two Fed buildings but has not found reasonable grounds to refer criminal charges against former chair Jerome Powell. The report has fuelled political attacks and prompted Warsh to order an independent audit of project costs.
Core OPEC+ members have kept November production ceilings unchanged as the group faces continued disruption from the U.S.-Israel war on Iran. Output remains well below prewar levels, with a capacity review delayed by geopolitical tensions; the next meeting is scheduled for November 1.
Lisa Cook’s lawyers have told the White House that a November 5 hearing cannot proceed because she will be performing Federal Reserve duties in Europe and preparing for the December FOMC meeting. Attorney Abbe Lowell has also warned that the White House committee is biased, citing members’ prior comments and unspecified additional allegations that must be disclosed before any fair hearing.