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The Latest Breaking News from Jerome Powell

Stocks Set for Muted Open as Investors Await Big Tech Earnings and Fed Meeting; Middle East Developments in Focus

June S&P 500 E-Mini futures (ESM26) are down -0.09%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.06% this morning as investors refrain from making big bets at the start of a busy week featuring earnings from major tech names, the Federal Reserve’s interest rate decision, and a raft…

Barchart

This week: King Charles to address Congress amid a packed legislative agenda

In a more normal week, a reauthorization of surveillance powers, a budget resolution or the farm bill might take center stage on the House floor. This week, the House is scheduled to do all that as well as host a joint meeting of Congress to hear from King Charles III.…

Roll Call

Key US senator lifts block on Fed chair nominee Kevin Warsh

The Republican senator who had effectively blocked confirmation of President Donald Trump’s pick to lead the Federal Reserve said on Sunday he was dropping his opposition after the Department of Justice ended its investigation of the current central bank chair.

Euronews

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GOP thorn in Trump’s side says he’ll confirm Fed pick Warsh despite threat of Powell probe still looming

DoJ’s decision to end ‘bogus’ probe vindicated Thom Tillis, who had power to hold up the nomination of Trump’s preferred candidate indefinitely

The Independent UK

Tillis will support Warsh, clearing way for Trump's Fed pick

"It is time for the Federal Reserve to move beyond this distraction and return its full attention to its mission."

Axios

Todd Blanche wants to be attorney general – and he’s going all in on Trump’s retaliation agenda to prove it

Trump’s former personal attorney has left little doubt to how he’d further politicize the justice department if his status becomes permanent

The Guardian - US

US justice dept closes criminal investigation into Fed chief Jerome Powell, clearing hurdle for Trump nominee Kevin Warsh

The Justice Department has closed its investigation into Federal Reserve Chair Jerome Powell regarding headquarters renovation cost overruns. This move removes a hurdle for Kevin Warsh's confirmation as Fed chair. The probe's closure allows scrutiny to continue through the Inspector General's office, with potential for criminal investigation restart if warranted.

The Times of India

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Trump news at a glance: as president’s relations with Nato fray, EU leaders explore their options

Brussels officials will draw up a plan on how to use the EU’s little-known mutual assistance pact in the event of a foreign attack

The Guardian - US

Nasdaq, S&P 500 Reach New All-Time Highs: Stock Market Today

The leader of the AI revolution helped carry two of the three main U.S. equity indexes to new highs heading into the weekend.

Kiplinger

Why Trump’s DOJ decided to drop the criminal case against Fed Chair Jerome Powell

IN FULL

The Independent UK

US justice department drops criminal investigation against Jerome Powell

Move will remove obstacle for confirmation of Kevin Warsh, Trump’s pick to replace Powell as Federal Reserve chair

The Guardian - US

DOJ Drops Criminal Investigation Of Jerome Powell, Potentially Paving Way For Confirmation Of Kevin Warsh

The Department of Justice dropped on Friday its criminal investigation of Federal Reserve Chair Jerome Powell, federal prosecutor Jeanine Pirro announced.

International Business Times

Pirro drops Powell probe, handing Kevin Warsh a lifeline, though U.S. attorney vows to restart probe ‘should the facts warrant doing so’

It’s unclear whether or not Powell will choose to stay on the board.

Fortune

Trump’s DOJ drops case against Jerome Powell to clear the way for Kevin Warsh as Fed chair

Trump’s pick to lead the Fed was blocked by a key Senate Republican unless prosecutors agreed to back off the case

The Independent UK

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Axios

DOJ drops criminal probe into Fed chair Jerome Powell

The move paves the way for Kevin Warsh to succeed Powell as the next head of the Federal Reserve.

Euronews

ECB interest rate dilemma: Eurozone growth stalls as Iran war fuels inflation

The European Central Bank faces heightened uncertainty ahead of next week’s rate decision, with President Christine Lagarde warning the "stop-start nature" of the Iran war is making the economic outlook harder to assess.

Roll Call

DOJ drops investigation into Fed’s Powell

U.S. Attorney Jeanine Pirro said Friday that she is dropping her investigation into Federal Reserve Chair Jerome Powell over the cost for renovations at the central bank, a move that could clear a path for the Senate to confirm Kevin Warsh as Powell’s replacement. “I have directed my office to…

Euronews

Fed chair nominee Warsh rejects 'Trump sock puppet' label at Senate hearing

Kevin Warsh, the nominee for Chair of the US Federal Reserve, declared he has not pledged to lower interest rates to secure his position despite public calls from US President Donald Trump for immediate monetary easing.

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Fortune

Wall Street won’t like it—but Kevin Warsh at the Fed may mark the end of your chatty neighborhood chairman

Until yesterday, many might have hoped that Warsh’s criticism of forward guidance was an ideal rather than an actionable opinion. They were wrong.

Axios

Thune nudges Trump to "wrap up" Fed probe

"We all agree that Kevin Warsh is a great pick and hopefully will be confirmed."

Kiplinger

Stocks Turn Lower on Iran Worries: Stock Market Today

Stocks gave up early gains Tuesday on concerns the U.S.-Iran ceasefire deadline could expire without a peace deal in place.

The Independent UK

Internet sleuths go crazy as NFL Hall of Famer Larry Fitzgerald sits behind Trump Fed Chair pick Kevin Warsh

Eagle-eyed fans spotted the former Arizona Cardinals wide receiver in an unexpected place

The Guardian - US

Trump’s Fed chair pick says he’ll maintain independence – but won’t say president lost 2020 election

Kevin Warsh says ‘we need to take politics out of monetary policy’ as Elizabeth Warren calls him Trump’s ‘sock puppet’

International Business Times

Fed Chair Nominee Kevin Warsh Says Central Bank Will Remain 'Strictly Independent'

President Donald Trump's nominee to be the next chair of the Federal Reserve, Kevin Warsh, said in his confirmation hearing Tuesday that the central bank will remain "strictly independent" and rejected he will be the president's "sock puppet."

International Business Times

Questions About Fed Leadership Arise As Kevin Warsh Nomination Faces Scrutiny

Political gridlock over top economic appointments is raising questions about stability at the Federal Reserve.

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