Weather

66°F3:38 AM

Politics

1 read

Trump Selects Kevin Warsh as New Federal Reserve Chair Nominee

KVIA•Friday, January 30, 2026 at 11:56 AM•CNN Newsource

Government building representing politics and policy news

Want the full story?

Read the complete article at KVIA

AI Summary

President Donald Trump has nominated Kevin Warsh to succeed Jerome Powell as the chair of the Federal Reserve, with Powell's term concluding in May. Warsh, a former Fed governor, has shifted his stance on monetary policy to favor lower interest rates, which aligns with Trump's goal to reduce living costs. The nomination process will involve a public hearing by the Senate Banking Committee, followed by a vote in the Senate. However, the ongoing criminal investigation into Powell by the Trump administration could complicate Warsh's confirmation. Warsh is recognized for his experience but has a history of advocating for inflation control, raising questions about his alignment with Trump's economic agenda.

Key Details: • Warsh's nomination is subject to Senate Banking Committee hearings and subsequent Senate vote. • Jerome Powell's term ends in May, marking a critical transition for the Fed. • The Trump administration's investigation into Powell may delay Warsh's confirmation. • Warsh has previously expressed concerns about inflation, which may conflict with Trump's current economic strategies.

economy trump federal-reserve jerome-powell kevin-warsh

People & Organizations

Donald TrumpFederal ReserveJerome PowellKevin WarshRonald LauderJane LauderHoover Institution

Related Articles

Controversy Erupts Over Chinese Submarine Cable Project in Chile

Tensions have escalated between Chile and the United States following the controversial submarine cable project proposed by China, which aimed to connect Chile directly to Hong Kong. The project, initially approved under former President Gabriel Boric, was halted just 48 hours after the decree was signed due to explicit threats from the U.S., including visa revocations for key Chilean officials. This situation highlights the delicate balance Chile must maintain between its significant trade relationship with China and its strategic alliance with the U.S. Experts warn that while the cable project appears to be abandoned, future demands regarding Chile's critical mineral resources like copper and lithium may arise, further complicating international relations.

Maine Senate Primary Heats Up as Janet Mills Targets Graham Platner's Controversial Past

In the competitive race for Maine's Democratic Senate nomination, Governor Janet Mills has launched a new ad attacking candidate Graham Platner over past social media comments regarding sexual assault. The controversy stems from Platner's now-deleted posts, which downplayed victims' responsibility in military sexual assault cases. With the primary set for June 9, Mills aims to capitalize on a gender gap, hoping to sway female voters who may be turned off by Platner's previous remarks. Despite this, Platner has maintained a fundraising lead and garnered significant endorsements from prominent Democrats, including Senators Bernie Sanders and Elizabeth Warren. As the race intensifies, both candidates are focusing on electability against incumbent Republican Senator Susan Collins.

Supreme Court to Review Mail-in Voting Deadlines Amid Trump's Ongoing Campaign

The Supreme Court is set to hear a case regarding state deadlines for mail-in ballots, a critical aspect of President Trump's ongoing efforts to limit mail voting, which he claims is prone to fraud. This case could impact the mail voting policies of several states, including Texas, as it examines whether states can count ballots received after Election Day. The outcome could have significant implications for the upcoming elections and the balance of power in Congress. A decision is expected by the end of June, and Trump's administration argues that stricter deadlines promote election integrity, while opponents warn this could undermine mail-in voting altogether.

Escalating Tensions: US and Israel Intensify Actions Against Iran

The conflict between the US, Israel, and Iran has escalated significantly, with President Trump issuing a 48-hour ultimatum for Iran to reopen the Strait of Hormuz. If not, he threatens to target Iran's power plants. Meanwhile, Israel has reported missile strikes on its territory, injuring civilians and damaging critical infrastructure, including a facility linked to its nuclear program. The ongoing conflict has resulted in over 18,000 injuries and more than 1,330 deaths in Iran, alongside significant casualties in Lebanon. As the situation develops, 22 nations, including the UAE and Australia, are stepping up efforts to secure maritime routes in the Strait of Hormuz, which has seen increased Iranian aggression against shipping.