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.
Larry Robert's Jr. recounts the day he cut Jackson's hair and sharing jokes with the family at their home.
Tuesday night marks the start of the Muslim holy month of Ramadan, and in Rolling Meadows one Islamic school has been busy giving back and getting kids excited.
With all of his success so far, the 35-year-old lefty said he's excited for what's to come in year two for both himself and the team.
Dozens of drivers had their car's airbag stolen earlier this week in the Lakeview neighborhood, Chicago police said.
Gary residents hoped the new partnership between U.S. Steel and Japanese company Nippon Steel would mean changes to how much coal is being used and how much emissions are being released, but that's not what's in the works.
Lawmakers in Springfield are preparing for a pivotal hearing that could shape the future of the Chicago Bears.
The City Council on Wednesday failed to override Mayor Brandon Johnson's veto of an ordinance that would have banned the sale of most intoxicating hemp-derived products in Chicago.
Gov. JB Pritzker is renewing his push to ban students from using cell phones in Illinois schools, aiming to improve student performance and protect children's mental health.
Gov. JB Pritzker is proposing a statewide fee on social media companies in an effort to raise $200 million a year for education, as the state grapples with a $2 billion budget shortfall.
Chicago taxpayers are now on the hook for $29.2 million in settlements over wrongful conviction lawsuits connected to a disgraced former police detective.
This is after Mayor Brandon Johnson vetoed an ordinance that would have banned most hemp-derived products this weekend.
This week marks Identity Theft Awareness Week, and Illinois Comptroller Susana Mendoza emphasized some safety tips Monday for avoiding and dealing with identity theft.
A controversial data center in Naperville, Illinois, could be the cause to pack a city council meeting there on Tuesday night.
Police in the west Chicago suburb of Geneva are warning of a scam involving spoofed phone numbers.
Protesters on Tuesday were cranking up the heat on Peoples Gas over a recently proposed rate hike that would add an additional $10 to $11 a month to utility bills.
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.
The University of Chicago Medicine Comprehensive Cancer Center has received a grant from The Ralph Lauren Corporate Foundation for a new cancer center.
Chicago's Lurie Children's Hospital said Tuesday that it is no longer initiating gender-affirming medical treatment for minors.
Lizard's Liquid Lounge announced recently that it will be closing for good in April after 18 years on Chicago's Northwest Side.
BP refinery workers in Northwest Indiana hit the picket line this past weekend as they escalate their fight for a contract.
Funkytown has now received a $3.7 million grant from the City of Chicago. The money will be used to create a new brewery and tap room on the Near West Side.
With his name now hanging in the rafters, former Chicago Bulls guard Derrick Rose is helping the United Center with its major redevelopment.
A potential bidding war is taking shape for the Daily Herald, the newspaper of record for suburban Chicago.
Anderson Cooper will report multiple stories for "60 Minutes" before the end of the television season in May.
Warner Bros. Discovery said that Paramount Skydance is considering enhancing its buyout offer for the entertainment company.
Robert Duvall was in such classics as "The Godfather," "To Kill a Mockingbird," "M*A*S*H," "The Great Santini" and "Tender Mercies."
"Dawson's Creek" and "Varsity Blues" star James Van Der Beek has died at 48 years old.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Larry Roberts Jr. said that during the haircut, he kept his cool and cracked some jokes to put the whole family at ease.
Gov. JB Pritzker on Wednesday laid out his spending plan and legislative agenda for the next fiscal year as he presented his annual State of the State address in Springfield.
Illinois State Police say they are investigating reports of a shooting on the Kennedy Expressway near Ogden Avenue Wednesday afternoon.
Tuesday night marks the start of the Muslim holy month of Ramadan, and in Rolling Meadows one Islamic school has been busy giving back and getting kids excited.
The number of shark attacks in the U.S. rose sharpy in 2025, though experts still caution the public that most attacks are not deadly.
Illinois State Police say they are investigating reports of a shooting on the Kennedy Expressway near Ogden Avenue Wednesday afternoon.
If you woke up in the Chicago area Wednesday to find your car covered in dust after the rain last night, there's a reason for that.
Gov. JB Pritzker is proposing a statewide fee on social media companies in an effort to raise $200 million a year for education, as the state grapples with a $2 billion budget shortfall.
Lawmakers in Springfield are preparing for a pivotal hearing that could shape the future of the Chicago Bears.
Illinois Gov. JB Pritzker was set to deliver his State of the State address Wednesday morning.
Gary residents hoped the new partnership between U.S. Steel and Japanese company Nippon Steel would mean changes to how much coal is being used and how much emissions are being released, but that's not what's in the works.
Chef Art Smith said the carjacking and fatal shooting of his employee, Darwin Tirado, 22, was devastating not only to his family but also to the larger community.
A state lawmaker is joining the growing call for accountability from the Illinois Department of Children and Family Services about past abuse allegations before an 8-year-old boy's murder.
Chicago's rodent problem is well known, but a new pilot program testing rat birth control to curb the population in problem areas is underway to help rein it in.
From Kat Abughazaleh to Jason Friedman, some surprising names lead in fundraising in Illinois' primary elections.
With all of his success so far, the 35-year-old lefty said he's excited for what's to come in year two for both himself and the team.
Northern Iowa football player Parker Sutherland has died two days after collapsing during an offseason workout.
Clark's decision took place during an investigation by the U.S. Attorney in Brooklyn, New York, into OneTeam Partners, a licensing company founded by the union, the NFL Players Association and RedBird Capital Partners in 2019.
While the rebuilding White Sox remain committed to developing their young talent, Venable wants to win now and wants to start from zero, starting with this camp.
With Alex Bregman now a member of the Cubs, Matt Shaw is making the transition from playing almost exclusively at third base to being a utility guy who will play in the outfield as well.
Dozens of drivers had their car's airbag stolen earlier this week in the Lakeview neighborhood, Chicago police said.
A Chicago man has been sentenced to 24 years in prison for a shooting inside an amusement park in west suburban Villa Park in 2021.
A man has been sentenced to 37 years in prison for the sexual exploitation of nearly 100 children, officials announced Wednesday.
Chicago police on Wednesday morning were investigating a shooting that left a man dead in the Bronzeville neighborhood.
The DNA profile was recovered from gloves found during the investigation into the disappearance of Nancy Guthrie in Arizona.
