The US Senate confirmed Kevin Warsh as chair of the Federal Reserve on Wednesday to replace Jerome Powell. The vote followed a separate confirmation Tuesday for his role as a Fed governor.
Lawmakers approved Warsh to a four-year term as chair and a 14-year term as governor. The confirmations passed largely along party lines. Warsh was President Donald Trump's choice for the position.
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The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell over cost overruns at the central bank's headquarters renovation. The move, announced by U.S. Attorney Jeanine Pirro on Friday, shifts scrutiny to the Fed's inspector general and clears a path for Senate confirmation of President Trump's nominee Kevin Warsh. The probe had been criticized as an effort to pressure Powell amid disputes over interest rates.
President-elect Donald Trump's nomination of Kevin Warsh as Federal Reserve Chair has led to a dip in bitcoin's price, as markets view him as potentially hawkish on monetary policy. Despite Warsh's past praise for bitcoin, analysts warn of short-term volatility if he tightens policy. Experts see long-term benefits for the cryptocurrency under his leadership.
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The U.S. Senate on Wednesday rejected a Democratic-led war powers resolution that sought to restrict President Donald Trump from continuing U.S. military action against Iran without congressional authorization. The measure failed 52-47, with Sen. Rand Paul the only Republican voting in favor and Sen. John Fetterman the lone Democrat voting no.
Voters in Wisconsin and Georgia delivered wins for Democrats on Tuesday, continuing a trend of overperformance since the 2024 presidential election. Liberal Chris Taylor won a seat on the Wisconsin Supreme Court, expanding the court's liberal majority to 5-2. In Georgia's 14th Congressional District, Republican Clay Fuller defeated Democrat Sean Harris in a special election runoff.
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President William Ruto has appointed Rita Kavashe as chancellor of Pwani University, Paul Russo as chancellor of Kibabii University, and Dr. Kevit Desai as chancellor of Kabianga University for five-year terms. The appointments appeared in a gazette notice on April 2. Russo, KCB CEO, received another state board role last week.