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 government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
India's government has introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing changes to payments regulation, income tax, and the Finance Act to attract FDI and support Make in India. The Bill's final shape will depend on parliamentary debate and committee review.
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
Prime Minister Narendra Modi inaugurated the Rs 5,000 crore Bhogapuram greenfield airport in Andhra Pradesh, built under a public-private partnership model. He also laid foundation stones for infrastructure projects worth nearly Rs 18,000 crore in the state, signalling a broad investment push for the region.
