Jay Clayton was sworn in as US Director of National Intelligence following a contentious Senate confirmation hearing marked by his refusal to directly acknowledge Donald Trump's 2020 election defeat.
The U.S. Senate reconvenes with Todd Blanche's confirmation hearing on the agenda, as Blanche rescinded a controversial 'anti-weaponization fund' plan. Separately, President Trump announced a deal to cancel planned attacks on Iran, causing oil prices to drop, while the DOJ's use of a Civil War-era statute and Capital One's closure of Trump Organization accounts are also in focus.
The National Assembly's confirmation hearing for Prime Minister nominee Han Seong-sook was criticized for lacking meaningful scrutiny and devolving into partisan political sparring. The ruling Democratic Party's opposition to witnesses and focus on defending the nominee were cited as primary reasons for the hearing's failure.
Prime Minister nominee Han Seong-sook began a confirmation hearing at South Korea's National Assembly, facing questions from the main opposition party regarding her eligibility and past controversies, including real estate speculation and a personal information leak.
Stephen Feinberg, deputy undersecretary of defense, wields significant power in Trump's Pentagon, overshadowing Defense Secretary Pete Hegseth. Feinberg, founder of Cerberus Capital Management, has unprecedented control over procurement and invests taxpayer dollars in defense companies, raising conflict of interest concerns.
South Korean ruling and opposition parties have agreed to hold a two-day confirmation hearing for Prime Minister nominee Han Seong-sook starting next Thursday. If confirmed by the National Assembly, Han would be the second female prime minister in the country's history.
President Trump canceled the confirmation hearing for Jay Clayton as Director of National Intelligence, citing issues with the confirmation of his successor and the acting DNI. This move jeopardizes the reauthorization of Section 702 of FISA, a critical intelligence authority that has lapsed.
President Trump canceled Jay Clayton's confirmation hearing for Director of National Intelligence, citing issues with the confirmation of his successor and the acting DNI. This imperils the reauthorization of Section 702 of FISA.
President Trump canceled Jay Clayton's DNI confirmation hearing, blaming Republicans and Democrats. He cited Republican concessions on FISA reauthorization and the blue slip process for judicial nominees as reasons for the delay, stating Clayton would not be removed until his replacement is confirmed.
Kevin Warsh told the Senate Banking Committee he would work with the US Treasury to reduce the Federal Reserve's balance sheet, marking a shift from the Fed's role as a global central bank supplying unlimited liquidity to a tighter monetary approach focused on domestic productivity and monetary sovereignty. CICC analysts noted expectations of abundant US dollar liquidity may be revised, warning assets reliant on liquidity-driven gains could face headwinds. Citic Securities said implementation would likely be gradual if launched in the second half of the year.
Kevin Warsh's confirmation hearing to become Federal Reserve chairman ignited debate over central bank independence as President Trump publicly demanded rate cuts. Warsh assured senators he would maintain independence if confirmed, despite Trump's pressure. The market nearly prices in 70% odds of no rate cuts this year, with oil prices and AI's impact on jobs key factors. Warsh, worth over $135 million and married to Estee Lauder heiress, has strong incentive to preserve Fed independence for his legacy.
Former Wall Street banker faces questions at confirmation hearing – but his biggest backer is also his biggest liabilityOn the face of it, Kevin Warsh looks like an ideal candidate to chair the Federal Reserve, the world’s most important central bank. The 56-year-old Ivy League economist, former Wall Street banker and presidential adviser ticks all the boxes. Unfortunately for Warsh, as he faces what could be a fraught nomination hearing, his biggest backer is also his biggest liability.In his second term, Donald Trump has attacked the Fed in a manner both unprecedented and unseemly. He has called current chair Jerome Powell – whom he also appointed – a “jerk” and “a stubborn MORON”, and repeatedly threatened to fire him. Continue reading...
Kevin Warsh faced Senate confirmation hearing Tuesday with Democrats and Republicans challenging his finances, relationship to Trump, and AI views. However, his plan for 'regime change' at the Federal Reserve—including abandoning press conferences, forward guidance, and the core PCE inflation measure—went largely unquestioned. Former Fed Chair Janet Yellen expressed doubt that Warsh could sway the FOMC, but the Senate showed little resistance to his potential overhaul of the central bank.
Kevin Warsh denied making a deal with Donald Trump on interest rates and said he wanted regime change at the central bank.
Kevin Warsh, President Trump's Fed chief nominee, called for "regime change" at the US central bank during his Senate confirmation hearing, proposing new inflation control approaches and a communications overhaul that may limit policymakers' public commentary on interest rate direction. Republican Senator Thom Tillis refused to support Warsh until the Trump administration drops a criminal probe of current Fed Chair Jerome Powell, potentially leaving Powell in the role indefinitely. Warsh blamed the Fed for post-pandemic inflation and said he would explore AI-driven data tools for better inflation insights.
Kevin Warsh, Trump's nominee to lead the Federal Reserve, faced sharp criticism from Senate Democrats at his confirmation hearing, with Senator Elizabeth Warren calling him a "sock puppet" for presidential policies. Lawmakers questioned his financial disclosures, crypto investments, and independence amid concerns Trump seeks to influence interest rate decisions. Warsh denied Trump ever asked him to commit to any rate decision. Powell's term ends May 15, but prediction markets show only 37% expect confirmation by that date.
The final full day of the ceasefire between the U.S., Israel and Iran arrives with uncertain peace talks. Meanwhile, Labor Secretary Lori Chavez-DeRemer resigns amid an internal investigation for alleged misconduct, becoming the third Trump cabinet member to depart. Kevin Warsh faces his Senate confirmation hearing today for Fed chair, with Republicans threatening to block his nomination over a DOJ investigation into the Fed.
