President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House.

The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year. The central bank said in a statement that there are signs the job market has stabilized while it also said growth was “solid,

Trump is soon expected to announce a replacement for Fed chair Jerome Powell, whom the president has frequently criticised for not reducing interest rates quickly enough. A recent

The Fed has navigated between competing risks for months. Inflation slowed in 2023 and 2024 but then stalled out above the central bank’s 2% goal over the past year, arguing for

The Federal Reserve on Wednesday kept interest rates unchanged as the US central bank fights to maintain its ability to set interest rates without political interference.

The Federal Reserve on Wednesday is set to announce its latest decision on the level of interest rates, marking its first rate move since news surfaced of a federal criminal investigation into Fed Chair Jerome Powell.

The appointment, which requires Senate confirmation, amounts to a return trip for Kevin Warsh who was a member of the Fed’s board from 2006 to 2011.

The Trump administration has unleashed a barrage of attacks on the Federal Reserve, including a criminal investigation into its chair, Jerome Powell.