Money, Wealth & Power—A Daily Look at the Financial World
Todd Blanche survived the kind of Senate vote that turns every empty chair and every party defection into a crisis. Two Republicans joined every Democrat and independent who voted against him, but President Donald Trump’s attorney general nominee still crossed the line, 50-49. The result gives Trump a Senate-confirmed leader at the Justice Department after…
Pentagon chief Pete Hegseth is turning his official travel into a rolling showcase of billionaire-built rocket factories, visiting the power centers of Jeff Bezos and Elon Musk just as their companies lock in some of the fattest defense contracts in modern military space. The tours highlight how national security is being rewired around a handful…
Kevin Warsh is not yet running the Federal Reserve, but markets are already trading on the possibility that he could quietly reset how money works across the globe. President Trump’s decision to nominate the former central banker to replace Fed Chair Jerome Powell signals a potential break with the past decade and a half of…
President Donald Trump’s team is reshaping the federal bureaucracy that has been most focused on China’s technological rise, pushing out officials who built some of Washington’s toughest safeguards against Beijing-linked hardware and data flows. The removals are landing just as the administration signals a broader shift away from treating China as the central national security…
President Donald Trump is escalating a personal and political clash with Jamie Dimon, accusing the JPMorgan Chase chief of lying about a supposed offer to lead the Federal Reserve and declaring him unfit to run the central bank. The dispute, which began with a report that Trump had courted Dimon for the Fed chair, has…
The Trump team has walked away from a controversial plan to fold the Bureau of Alcohol, Tobacco, Firearms and Explosives into the Drug Enforcement Administration after an unusually unified backlash from both gun control advocates and gun rights groups. The reversal halts an internal Justice Department effort that would have redrawn the map of federal…
President Donald Trump is moving quickly to reshape the Federal Reserve, telling allies he intends to name a replacement for Fed Chair Jerome Powell in January and signaling that the search has narrowed to a small circle of contenders. The timing raises the stakes for financial markets already trying to gauge the path of interest…
Donald Trump has made it clear that his next choice for Federal Reserve Chair will be expected to slash interest rates aggressively if markets and growth stay strong, a demand that could reshape both monetary policy and the politics around it. His promise that the successor to Jerome Powell will cut rates “by a lot”…
Corporate America is lining up behind Federal Reserve Governor Christopher Waller as President Donald Trump weighs whom to install as the next chair of the central bank. More than four out of five leading chief executives now say the White House would be making a serious mistake if Trump passed over Waller, a rare show…
Financial markets are bracing for a profound shift at the top of the United States central bank as President Donald Trump signals he is close to naming a new Federal Reserve chair. With investors increasingly convinced that Trump will choose a loyalist who shares his impatience for lower interest rates, anxiety is building across bonds,…