Trump nominates Kevin Warsh as next Federal Reserve Board chair
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
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President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
The U.S. Supreme Court heard oral arguments Wednesday in a high-stakes case that could have a major impact on the independence of the Federal Reserve. At issue is the legality of President Trump’s attempts to fire Lisa Cook from her post on the Board of Governors of the Federal Reserve.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Meanwhile, Federal Reserve Chairman Jerome Powell is now facing a criminal investigation. Bradley Blackburn reports.
Federal prosecutors claim Powell lied to Congress when he testified last year about the cost of the renovation of the Fed’s D.C. headquarters.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
The Federal Reserve is meeting to discuss a potential interest rate cut, with policymakers divided on the path ahead. As Lisa Rozner reports, this is happening as many Americans struggle to keep up financially.
Lisa Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors.
The Consumer Price Index is now at 2.9%, up a 0.4% from the previous month.
Federal Reserve Governor Lisa Cook filed suit against President Trump, Chair Jerome Powell and the Fed's Board of Governors on Thursday, asking a federal judge to block the president's attempt to fire her from the central bank.
President Trump said Monday he has fired Lisa Cook from the Federal Reserve's Board of Governors. Her attorney countered that they plan to file a lawsuit challenging the move.
President Trump continues to raise the stakes in his crime crackdown, held a public cabinet meeting in front of cameras, and is trying to fire Federal Reserve Gov. Lisa Cook Tuesday.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
Investors are closely watching the Federal Reserve as it meets in Washington, D.C., to announce what's next for interest rates. President Trump is pushing the board to reduce rates.
The battle came as the president sparred with the head of the federal reserve in a rare presidential visit to their headquarters.
The House will soon take up the package of spending cuts narrowly approved by the Senate overnight, that slashes previously approved funding for foreign aid as well as PBS and NPR. Lawmakers are also reacting to President Trump's latest comments on whether he'll try to oust Federal Reserve Chair Jerome Powell, whom he has repeatedly criticized for not lowering interest rates.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent. Posting on social media as he went golfing, the president called this “a great time to get rich.” But in a rare move, President Trump is calling on the Federal Reserve to cut interest rates. Fed chairman Jerome Powell warned on Friday that tariffs could do long-term harm to the economy.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
On Thursday afternoon, the Federal Reserve decided to institute the second cut the interest rate of the year.
Chicago Mayor Brandon Johnson is making the rounds on different podcasts, and this past weekend, he brought the podcasters to the West Side.
A man who is best known to generations of Chicagoans as CBS Chicago's principal anchorman will soon be retiring from his second act on the airwaves.
A 75-year-old man was due for a detention hearing Tuesday in a shooting that killed two women, ages 68 and 71, on Chicago's Far South Side this past weekend.
A 16-year-old boy was charged in a shooting that left a 12-year-old boy injured in Chicago's Austin neighborhood in February.
Chicago police said they apprehended two women early Tuesday morning after the women broke into a grocery store in Chicago's Old Town neighborhood and stole some merchandise.
Chicago Mayor Brandon Johnson is making the rounds on different podcasts, and this past weekend, he brought the podcasters to the West Side.
Defense Secretary Pete Hegseth said Tuesday that it would be the "most intense day" of strikes against Iran so far.
From the final forum featuring candidates looking to replace Dick Durbin to AI being used to endorse a candidate. Here's what's happening before the polls open next week.
A conservative Wisconsin Supreme Court justice first elected in 2007 will not seek a third 10-year term next year.
Live Nation, the parent company of Ticketmaster, has reached a deal with the Department of Justice as part of a high-stakes antitrust trial.
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump Monday morning.
There's no relief in sight for drivers at the pump as the war in Iran is directly driving up the cost of gas. Analysts expect more of the same unless something changes soon.
Drivers in the Chicago area can expect to start paying more at the pump this week, as oil prices have spiked amid the U.S.-Israeli war on Iran.
Palatine, Illinois-based Weber has issued a recall of more than 3.2 million metal wire bristle grill brushes because you could ingest the bristles.
This is after Mayor Brandon Johnson vetoed an ordinance that would have banned most hemp-derived products this weekend.
Illinois Gov. JB Pritzker on Monday announced a $1.5 billion investment from biotherapeutics company CSL for a new plasma therapy manufacturing plant in Kanakee.
When a doctor was told there was no cure for his daughter's condition, he was motivated to transform not only her health, but the lives of thousands of others.
Ann & Robert H. Lurie Children's Hospital announced this week that it is planning to open a new pediatric hospital in the west Chicago suburb of Downers Grove.
It has been nearly six years since the start of the COVID-19 pandemic, and one of the many questions doctors are still working to answer concerns the long-term effects.
Leaders from Cook County, the Illinois Department of Human Services, and the Greater Chicago Food Depository denounced changes to the Supplemental Nutrition Assistance Program on Wednesday.
Illinois Gov. JB Pritzker on Monday announced a $1.5 billion investment from biotherapeutics company CSL for a new plasma therapy manufacturing plant in Kanakee.
Capital One is laying off more than 1,100 workers at the former Discover headquarters in north suburban Riverwoods.
A new development at the southeast corner of Chicago's East Lakeview community would clear away a medical office building and replace it with a residential high-rise.
The City of Aurora, Illinois, is seeking input from residents about data center development.
Not one, but two hotels are now planned or proposed for Chicago's Northalsted LGBTQ+ nightlife district.
Jennifer Runyon, a Chicago native who became famous as an actress appearing in "Ghostbusters" and "Charles in Charge," died last week.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
A 19th-century George Méliès film, thought to be long lost, has been found among a box of brittle movie reels that a Michigan donor brought to the Library of Congress, officials said.
The weather in Chicago today includes both the possibility of severe thunderstorms starting in the afternoon, and a chance of tornadoes, especially to the south.
A former Chicago Public Schools student claims she was groomed, kissed, and repeatedly sexually abused by a female security guard, and CPS is accused of failing to report the abuse allegations to police. Lauren Victory reports.
Meanwhile, Iran has launched new attacks against Israel and Gulf Arab countries, including a strike on a residential building in Bahrain’s capital, while Secretary of Defense Pete Hegseth warned of the “most intensive day of strikes” against Iran Tuesday. Jarred Hill reports.
Join Jackie Kostek as she gets an inside look at the Inspired Home Show at McCormick Place.
Chicago Mayor Brandon Johnson is making the rounds on different podcasts, and this past weekend, he brought the podcasters to the West Side.
The weather in Chicago today includes both the possibility of severe thunderstorms starting in the afternoon, and a chance of tornadoes, especially to the south.
A former Chicago Public Schools student claims she was groomed, kissed, and repeatedly sexually abused by a female security guard, and CPS is accused of failing to report the abuse allegations to police.
The suspect was taken to Mt. Sinai with multiple gunshots to the upper body and was pronounced dead, CPD said in an update on Monday night.
Chicago Mayor Brandon Johnson is making the rounds on different podcasts, and this past weekend, he brought the podcasters to the West Side.
A 16-year-old boy was charged in a shooting that left a 12-year-old boy injured in Chicago's Austin neighborhood in February.
A Chicago senior citizen said his phone has been ringing off the hook with hundreds of unwanted spam calls that have made his beloved landline virtually unusable. New efforts in Springfield could bring real relief.
A proposed Illinois law hopes to create more oversight on private companies to protect consumers from skyrocketing utility prices.
The three women said they are working to make their way back home, but without any help from the U.S. State Department.
If you feel like you're drowning in a sea of text alerts and desperate email pleas for "just $5" this election season, you are far from alone.
A north suburban school bus driver became a victim of sophisticated scammers who are targeting more people and more vulnerable populations to make more money.
Chicago, which had lost three in a row, including a 4-3 setback to Dallas on Sunday night, has now won all three meetings with Utah this season, with the teams' fourth and final game of the season scheduled for Thursday night.
The Chicago Bears have been busy bolstering their defense on the first day of free agency, signing linebacker Devin Bush Jr., safety Coby Bryant, and defensive tackle Neville Gallimore, according to reports.
Sacramento outscored the Bulls 68-36 in the paint.
Blackhawks rookie forward Oliver Moore left midway through the first period after three shifts with an undisclosed injury when sliding into the end boards seconds after assisting on Rinzel's goal.
That event takes place during a bit of a break in Northwestern's spring schedule, giving Ashley and Dianna the chance to compete in Augusta, then return to Evanston to focus on a potential repeat.
A 75-year-old man was due for a detention hearing Tuesday in a shooting that killed two women, ages 68 and 71, on Chicago's Far South Side this past weekend.
Chicago police said they apprehended two women early Tuesday morning after the women broke into a grocery store in Chicago's Old Town neighborhood and stole some merchandise.
The suspect was taken to Mt. Sinai with multiple gunshots to the upper body and was pronounced dead, CPD said in an update on Monday night.
The man charged with the execution-style murder of a bar owner last month in far south suburban Momence has pleaded not guilty.
A man is dead after being shoved down a flight of stairs during a fight in Chicago's River North district early Monday.
