Kevin Warsh, Donald Trump's pick to lead the Federal Reserve, has cleared a key Senate committee hurdle, setting up a full Senate confirmation vote. Warsh is a former Fed governor and was reportedly Trump's preferred choice to replace Jerome Powell, whose term as Fed chair runs until May 2026. The committee vote moves Warsh one step closer to what could be a leadership transition at the world's most influential central bank. Powell has repeatedly resisted White House pressure to cut interest rates more aggressively, drawing sustained public criticism from Trump. Warsh's expected arrival changes the calculus for rate policy watchers. Markets closely track Fed leadership signals because rate decisions directly affect borrowing costs for businesses and consumers, bond yields, and equity valuations. If confirmed and installed, Warsh would take the chair at a time when inflation and growth signals remain mixed. Investors and analysts will now watch for the full Senate vote timeline and any signals Warsh gives on his rate policy stance.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
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.
