Jerome Powell confirmed he will stay on the US Federal Reserve's board as a governor after his term as chairman ends on May 15. He made the announcement at a press conference broadcast at midnight Thursday in India. Powell did not specify how long he plans to remain as governor, saying the duration is "to be determined." Powell has led the Fed since 2018, steering monetary policy through the pandemic-era stimulus, the sharpest inflation surge in four decades, and an aggressive rate-hiking cycle to bring prices down. His chairmanship ends next month, but board governors serve separate, longer terms. His decision to stay on the board as a regular governor is notable because it keeps him inside the institution, with a vote on policy decisions, even after losing the chair role. Markets and analysts will watch whether his continued presence on the board influences rate decisions or creates any friction with the incoming chair. The identity of his successor has not been mentioned in the announcement.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
