Trump administration

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.

Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.

U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.

Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."

Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, denied that he would act as Trump's "sock puppet" if he's confirmed and said the president has directed him to lower interest rates.