Kevin Warsh, Donald Trump's pick to lead the Federal Reserve, cleared a critical Senate step on Thursday. The Senate Banking Committee voted along party lines to advance his nomination to the full Senate floor, where Republicans hold the majority. All 13 Republicans on the panel backed Warsh; no Democrats joined them. Warsh, a former Fed governor and Wall Street veteran, has been Trump's choice to replace current Fed Chair Jerome Powell, whose term runs through May 2026. The full Senate vote is the final confirmation step. The party-line vote signals that Warsh's confirmation will depend almost entirely on Republican unity in the chamber. With the GOP controlling the Senate, his path to confirmation looks clear barring any defections. Markets have closely tracked the Fed leadership race because the new chair will shape interest rate decisions at a time of elevated inflation uncertainty. Watch for a full Senate floor vote date to be announced in the coming weeks.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
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.
