Trump administration

Households are cutting back on spending and buying fewer big ticket items, according to a key consumer confidence report. Higher inflation expectations and recession concerns are driving the pullback.

President Donald Trump administered Federal Reserve Chair Kevin Warsh's oath of office in a ceremony Friday morning. Warsh is expected to pursue changes at the central bank, including a push to reduce its $6.7 billion balance sheet. 

The White House issued an executive order Tuesday requesting that the Federal Reserve review access to payment accounts for fintechs and digital asset firms.

The White House issued an executive order Tuesday directing the Treasury department, bank regulators and the Consumer Financial Protection Bureau to advise banks on "red flags" of informal work arrangements. How agencies implement the order will determine how onerous compliance will ultimately be for banks.

The Treasury Department's General Counsel Brian Morrissey resigned his post as controversy grew over a Department of Justice settlement creating a fund to compensate for alleged victims of prosecution by the Biden administration.

A White House official said that the president will swear in Kevin Warsh, who was confirmed as the next chair of the Federal Reserve last week, in a ceremony Friday. Fed Chair Jerome Powell will serve as chair pro tempore until that time.

The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.

The payment company will waive transaction fees totaling about $30 million for veteran-owned, farming, manufacturing or technology-based small businesses following an investigation into a 6-year-old former investment program designed for Black and minority-owned small businesses.

President Donald Trump has tapped Treasury official John Crews to be the next chair of the National Credit Union Administration.

Market watchers say that the economy as a whole is holding up under higher energy prices and do not expect a recession. Even so, observers are watching financial markets and consumer spending for signs that inflation expectations are taking hold.

Kevin Warsh is a younger version of Jay Powell but with a convincing economist "eminence front." What Warsh does not have, as was the case with Powell, is an economics Ph.D., and that, as the post-pandemic inflation surge has shown us, is critical.

CEO Robin Vince defended the custody bank's use of artificial intelligence Monday, saying that the deployment of AI allows firms to increase their investment capacity.

Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.

Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.

The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.

Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.

As Federal Reserve Chair Jerome Powell gives what is most likely his final press conference as chair Wednesday afternoon, the Federal Open Market Committee is widely expected to keep interest rates steady.

Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.

The Federal Open Market Committee's April meeting — likely Federal Reserve Chair Jerome Powell's last — is unanimously expected to keep interest rates steady, but questions about energy, inflation and the upcoming transition in leadership still loom.

Sen. Thom Tillis, R-N.C., said on Sunday that he no longer opposes Kevin Warsh's nomination to serve as chair of the Federal Reserve following the Justice Department's announced closure of its inquiry into current Fed Chair Jerome Powell.