Kevin Warsh moved closer to becoming the next Federal Reserve chair after clearing a Senate committee vote. Trump nominated Warsh for the role, and the committee's approval sends his confirmation to the full Senate floor for a final vote. Warsh previously served as a Fed governor from 2006 to 2011 and has ties to Wall Street through his work at Morgan Stanley. The central question shadowing his confirmation is whether he would keep the Fed independent from White House pressure. The Fed's independence matters because it sets interest rates free from political interference, a credibility that anchors inflation expectations and investor confidence globally. Markets are watching whether a Warsh-led Fed would bend to Trump's repeated calls for lower rates. If confirmed, Warsh would take over one of the most powerful economic posts in the world at a time when inflation and rate policy remain central to both US growth and global capital flows.
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
