Jerome Powell confirmed he will leave his role as Federal Reserve chair when his term ends in May but will stay on the Fed's board of governors until 2028. The statement addresses pressure from President Trump, who had publicly pushed for Powell's removal. Powell's decision to remain on the board preserves some continuity even as leadership changes at the top. Kevin Warsh, Trump's nominee for Fed chair, cleared a Senate committee vote today, moving him closer to confirmation. A full Senate vote is the next step before Warsh formally takes over. The Fed chair sets the tone for interest rate decisions that affect borrowing costs across the economy, from mortgages to business loans. A change in leadership often signals a potential shift in how aggressively the central bank responds to inflation or slowing growth. Markets and analysts will watch whether Warsh, once confirmed, moves to cut rates faster than Powell's Fed had signaled, given Trump's repeated calls for lower borrowing costs.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
The U.S. Supreme Court ruled against TPS protections in a case centered on Haitian migrants, leaving 1.3 million people from over a dozen countries vulnerable to deportation. Many affected individuals have lived legally in the U.S. for decades, with the ruling removing a key legal shield used to resist removal.
