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Kevin Warsh tells Congress he will maintain Fed independence despite Trump pressure – US politics live | US politics

Published

4 months ago

April 21, 2026

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Warsh insists that he will maintain Fed independence, regardless of pressure from administration

During his opening statement today, Kevin Warsh told lawmakers on the banking committee that the independence of the Federal Reserve is paramount. Senator Elizabeth Warren has said that she is concerned Warsh would simply be a “sock puppet” for Donald Trump. Today, Warsh said that he does not believe that “independence of monetary policy is threatened when elected officials speak their views on rates fed. Independence is up to the Fed”.

Key events

Warren engaged in a particularly heated exchange Trump’s pick to lead the Federal Reserve.

One of her main causes of concern is that Warsh holds assets worth well over $100m. According to the financial disclosures Warsh was required to submit for the role of Fed chair, he holds two investments worth more than $50m each in the Juggernaut Fund LP and $10.2m in consulting fees from the investment office of billionaire Stanley Druckenmiller.

However, the Juggernaut Fund investments, for example, come with confidentiality agreements that don’t require Warsh to disclose details of the assets.

Warren asked Warsh whether any of these stakes are in companies affiliated with Trump or his family, companies that have facilitated money laundering Chinese control companies, or financing vehicles set up by Jeffrey Epstein.

In response, Warsh simply insisted that he would sell these assets if confirmed, but did not directly answer Warren’s line of questions.

“You just won’t tell us,” Warren said. “Will you disclose how you [will] divest those assets, or will you just collect the check for $100m?”

Warsh insists that he will maintain Fed independence, regardless of pressure from administration

Warren: ‘We should not be having this hearing today’

Elizabeth Warren, the ranking member of the Senate banking committee, said that “we should not be having this hearing today” while addressing Kevin Warsh and her colleagues on the panel.

Warren said that Donald Trump’s “chaotic tariffs”, the One Big, Beautiful Bill and his war with Iran are all “driving up the cost of nearly everything here at home”.

The Democratic senator also noted that Trump has “repeatedly and illegally attempted to take over the Fed”, with his “bogus attacks” on Governor Lisa cook and chair Jerome Powell.

Warren said these attempts were designed to “threaten all the members of the Fed to do the president’s “bidding “and open more spots for “Trump flunkies”.

Kevin Warsh’s confirmation hearing has started, and we’ll bring you the latest lines as it gets under way.

The Senate banking committee’s chair, Republican Tim Scott, kicked off his opening remarks by underscoring the importance of the central bank, and the role of its chair.

“Monetary policy choices made at the Federal Reserve can affect the Americans ability to buy groceries, whether or not they can afford a home, how far their paycheck goes, especially at the end of the month,” Scott said.

He noted that, under the Biden administration, the Federal Reserve “appeared to move with the political winds, raising real concerns about politics and weaponizing on the most powerful weapons we have for good”.

However, since Donald Trump returned to office, he’s instigated a feud with the current chair, Jerome Powell. The president has routinely slammed Powell for refusing to cut interest rates at his insistence. He’s also pushed a criminal investigation into Powell for alleged mismanagement of Federal Reserve renovations.

Hegseth says that Pentagon is ending flu vaccine requirement for service members

In a video posted to social media, Pete Hegseth signed an new policy ending the flu vaccine requirement for US service members.

The defense secretary said he was using this opportunity to “discard any overreaching mandates that only weaken our war-fighting capability”.

Medical experts note that the flu vaccine protects against three or four virus strains that cause influenza each year, and most severe cases of the virus are in unvaccinated individuals.

“The notion that a flu vaccine must be mandatory for every service member, everywhere, in every circumstance at all times, is just overly broad and not rational,” Hegseth said in the video posted to X today.

“If you, an American warrior, entrusted to defend this nation, believe that the flu vaccine is in your best interest, then you are free to take it,” he added. “But we will not force you, because your body, your faith and your convictions are not negotiable.”

Chris Stein

Nearly three months to the day after his term as Virginia’s governor ended, Republican Glenn Youngkin stood in an unshaded corner of an office parking lot to warn dozens of conservative activists that they were in the midst of “the most important election” in the commonwealth’s 237-year history.

The question before the voters casting ballots at an early voting precinct a few yards away in the city of Leesburg, ahead of Tuesday’s special election, was whether to temporarily set aside Virginia’s congressional maps intended to advantage neither party and replace them with a new version that could allow Democrats to win all but one seat in the 11-member delegation in the November midterm elections.

“They want to override the voice of Virginia and push us into what is now being called the most partisan, most gerrymandered map in America, worse than Illinois, worse than California,” Youngkin warned.

Left unmentioned by the former governor was the role of Donald Trump, who instigated the nationwide redistricting war last year in an effort to preserve Republican control of Congress for the entirety of his second term, sparking a tit-for-tat between red and blue states that will see its latest skirmish decided on Tuesday, when polls close in Virginia’s redistricting referendum.

Trump says he would be disappointed if Warsh did not cut rates as Fed chair

Also in his interview with CNBC, Donald Trump said that he “would be” disappointed if Kevin Warsh, his nominee to lead the Federal Reserve, did not cut interest rates as soon as he took office after being confirmed by the Senate.

A reminder that Warsh is facing lawmakers today in a hearing, where he’ll face questions about his loyalty to the president and whether this would impact the central bank’s independence. Warsh is also facing pushback from one of the critical Republican votes on the Senate banking committee – Thom Tillis – who has refused to confirm any of Trump pick to lead the Fed as long as the criminal probe into Jerome Powell continues.

The president has remained resolute that “we have to find out” about the renovations of the new Federal Reserve building, which he has accused Powell of mismanaging, leading the justice department to investigate.

Trump says he does not want to extend ceasefire with Iran

Donald Trump said that he does not want to extend the two-week ceasefire with Iran, in an interview with CNBC. “I dont’ want to do that. We don’t have that much time,” the president said. The pause is set to expire tomorrow, and vice-president JD Vance will lead last-ditch talks in Islamabad today, in the hopes of striking a deal with Tehran.

However, speaking to Joe Kernen, Trump said that he plans to resume strikes if negotiations collapse. “I expect to be bombing because I think that’s a better attitude to go in with,” the president added. “But we’re ready to go. I mean, the military is raring to go.”

Trump, regardless, remained convinced that “we’re going to end up with a great deal”.

Donald Trump is in Washington today. He’s set to take part in an interview with CNBC’s ‘Squawk Box’ at 8:30am ET.

The president will spend the rest of the day in meetings until 4pm ET, when he welcomes the NCAA Collegiate National Champions to the White House.

We’ll bring you the latest lines from both opportunities to hear from Trump.

Trump heaps praise on outgoing Apple CEO Tim Cook

The president is awake and has used his first social media post of the day to heap praise on Apple’s outgoing CEO Tim Cook.

Donald Trump said he has “always been a fan” of Cook, adding that if Steve Jobs had not died aged 56, he would not have run the company anywhere “near as well as [well]” as under Cook.

He wrote:

For me it began with a phone call from Tim at the beginning of my First Term. He had a fairly large problem that only I, as President, could fix. Most people would have paid millions of dollars to a consultant, who I probably would not have known, but who would say that he knew me well. The fees would be paid but the job would not have gotten done. When I got the call I said, wow, it’s Tim Apple (Cook!) calling, how big is that? I was very impressed with myself to have the head of Apple calling to “kiss my ass.”

Anyway, he explained his problem, a tough one it was, I felt he was right and got it taken care of, quickly and effectively. That was the beginning of a long and very nice relationship. During my five years as President, Tim would call me, but never too much, and I would help him where I could. Years latter, after 3 or 4 BIG HELPS, I started to say to people, anyone who would listen, that this guy is an amazing manager and leader.

Trump added:

Anyway, Tim Cook had an AMAZING career, almost incomparable, and will go on and continue to do great work for Apple, and whatever else he chooses to work on. Quite simply, Tim Cook is an incredible guy!!!

Two regional officials said on Tuesday that the United States and Iran have signaled they will hold a new round of the ceasefire talks in Islamabad.

The officials’ comments come as neither the US nor Iran have publicly confirmed the timing of the talks, with Iranian state television denying any official was already in Pakistan’s capital.

Pakistan-led mediators received confirmation that top negotiators, US vice-president JD Vance and Iran’s parliament speaker Mohammad Bagher Qalibaf, will arrive in Islamabad early Wednesday to lead their teams in the talks, the officials told the Associated Press.

President Donald Trump and many of his leading Christian supporters and top Republicans are taking part this week in a marathon reading of the Bible in an America 250-themed event billed as encouraging a “return to the spiritual foundation that has shaped our country.”

The America Reads the Bible event – with each participant reading a passage aloud – is being live-streamed this week from the Museum of the Bible in Washington and other locations, AP reported.

It is slated to feature a video of Trump on Tuesday evening reading a passage that called for national repentance in ancient Israel – words that have been used prominently for decades by those promoting the belief that America has been and should be a Christian nation.

The Bible is “indelibly woven into our national identity and way of life,” Trump said in a statement commemorating the event.

The statement cited historical figures such as the Puritan leader John Winthrop as “imploring his fellow Christian settlers to stand as a beacon of faith for all the world to see.”

President Donald Trump holding a Bible during a visit outside St. John’s Church across Lafayette Park from the White House in Washington. Photograph: Patrick Semansky/AP

Lauren Aratani

On the face of it, Kevin Warsh looks like an ideal candidate to chair the Federal Reserve, the world’s most important central bank.

The 56-year-old Ivy League economist, former Wall Street banker and presidential adviser ticks all the boxes. Unfortunately for Warsh, as he faces what could be a fraught nomination hearing, his biggest backer is also his biggest liability.

In his second term, Donald Trump has attacked the Fed in a manner both unprecedented and unseemly. He has called current chair Jerome Powell – whom he also appointed – a “jerk”, “a stubborn MORON”, and repeatedly threatened to fire him.

The tension comes from Trump’s desire for lower interest rates. The problem: the president can’t set interest rates.

But Trump thinks he’s found a saving grace in Warsh. Warsh is set to appear in front of the Senate’s banking committee for his nomination hearing on Tuesday morning, where he is expected to be grilled by Democrats and Republicans alike.

President Donald Trump’s approval rating held at the lowest of his term in recent days as many Americans questioned his temperament amid the Iran war and a feud with Pope Leo, a Reuters/Ipsos poll found.

The six-day public opinion poll, concluded on Monday, showed only 36% of Americans approve of Trump’s job performance, unchanged from a month earlier.

Trump enjoyed the highest approval rating of his current term, 47%, shortly after he was sworn in to office in January 2025.

Trump has been under pressure since his administration and Israel launched a war against Iran in February that has pushed gasoline prices sharply higher.

Some 36% of Americans approve of US military strikes against Iran, compared with 35% in a Reuters/Ipsos poll conducted 10-12 April.

The latest poll of 4,557 adults nationwide, conducted online, had a margin of error of two percentage points.

Jerome Powell’s term as chair ends on 15 May. He said last month that he would remain as chair until a successor is named.

Powell also is serving a separate term as a member of the Fed’s governing board that lasts until January 2028.

Fed chairs typically leave the board when their terms as chairs ends, but Powell also said last month he would remain on the board, even if a new chair is approved, until the investigation is dropped.

When asked about Powell’s comments, Trump said he would fire Powell if he tried to stay at the Fed.

Yet Trump’s previous attempt to remove a Fed governor, Lisa Cook, has been tied up in courts.

During oral arguments in January, a majority of justices on the Supreme Court appeared to lean towards letting Cook keep her job.

Federal Reserve Board Chairman Jerome Powell leaves after the International Monetary and Financial Committee (IMFC) meeting during the World Bank/IMF spring meetings at the IMF headquarters in Washington, Friday, April 17, 2026. Photograph: José Luis Magaña/AP

While the long-delayed hearing is a necessary step for Kevin Warsh, it’s not clear when the committee may even be able to vote on his nomination.

The Justice Department is investigating Powell and the Fed over a building renovation, and senator Thom Tillis, a North Carolina Republican, has said he would effectively block Warsh until the probe is dropped, AP reported.

“Clearly there’s a majority of the committee that’s not going to move this nomination forward, especially while this sham of a criminal investigation is going on,” senator Tina Smith, a Democrat from Minnesota, told reporters on a conference call Monday.

“It feels a bit like we’re going through the motions when we really have not addressed the fundamental challenges that this nomination has.”

The turmoil could make a potential transition from Powell to Warsh an unusually turbulent one for the world’s most important central bank, which has typically seen smooth transfers of power.

Should the change in leadership prove difficult, it could unnerve markets and lift longer-term interest rates.

Trump’s Federal Reserve chair pick to face lawmakers at key confirmation hearing

Hello and welcome to the US politics live blog.

President Donald Trump’s choice to lead the Federal Reserve will commit to protecting central bank independence on interest rates at a crucial confirmation hearing later today.

“I am committed to ensuring that the conduct of monetary policy remains strictly independent,” Kevin Warsh is to say in an opening statement to the Senate Banking Committee. He is also expected to express commitment to fighting inflation, according to remarks seen by the AFP news agency.

The hearing, scheduled for 10am ET, will be closely watched as it marks a key hurdle Warsh must overcome in order to succeed Fed chair Jerome Powell when his term ends on 15 May.

But the session will be tense, with all 11 Democrats on the Banking Committee last week urging for a delay in the nomination’s proceedings until separate investigations into Powell and Fed governor Lisa Cook are closed.

Republican senator Thom Tillis, who sits on the panel led by his party, has also vowed to block all Fed nominees – including Warsh – until the Justice Department probe involving Powell is resolved. With 13 Republican members on the committee, Tillis’ vote against Warsh’s confirmation could be enough to set up an impasse.

Warsh is due to face questioning from lawmakers on issues ranging from his wealth to past connections with the late sex offender Jeffrey Epstein, alongside his views on economic issues.

In other developments:

Lori Chavez-DeRemer, Donald Trump’s labor secretary, resigned from her role with the administration. She said it was “an honor and a privilege to serve” to serve and that she would take on a job in the private sector. The departure came after she became entangled in a string of political and personal controversies. Democrats celebrated, writing “this administration is imploding”.
Chuck Schumer, the Senate minority leader, called for Kash Patel’s immediate resignation following a report from the Atlantic detailing the FBI director’s alleged excessive drinking and absences. Patel has sued the magazine for defamation with his attorneys calling the article a “sweeping, malicious, and defamatory hit piece”.
Donald Trump signed memorandums related to coal supply chains, natural gas and grid infrastructure on Monday. The president invoked the Defense Production Act in the energy-related memos, writing that increasing energy production is “essential to United States national defense”.
The crowded field of Democratic candidates in the California’s governor’s race appears to be narrowing as Betty Yee — a former state controller— announced Monday she planned to end her campaign. Meanwhile, the California Democratic party chair Rusty Hicks continued to urge candidates trailing in the polls to exit the race.

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Driver killed in Bedford train crash named

Published

2 months ago

June 21, 2026

info@oxinfo.co.uk

The family of Shaun Burton, say they are “devastated” by the loss.

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Spain v Saudi Arabia: World Cup 2026 – live | World Cup 2026

Published

2 months ago

June 21, 2026

info@oxinfo.co.uk

Key events

In the opening half an hour against Cape Verde, Mikel Oyarzabal, the centre-forward, did not get a single touch.

Oyarzabal profile

Kyle Green gets in touch: “Your highlighting of Lalas and his absurdity is something that has prevented me from wanting to watch the coverage on Fox. While every channel has its pros and cons I just can’t.

“I’m 45 and probably the youngest of anyone who remembers him as a player instead of an opinionated insert insult here. As for the match this could be more competitive than it looks on paper Spain need a win the pressure is on them. Saudi Arabia could hold out for a draw and see what happens in their last match. “

News from the England camp, and it seems to be good news on Declan Rice.

“I’m ready and fit, raring to go. I was feeling a little bit of neural pain in my hamstring, which I was managing from after Christmas with Arsenal for a very long time. Obviously, not a lot of people would have known that. It was all behind-the-scenes stuff but it was a smart decision.

“In the end, that last 20 minutes is probably where you pick up the most, and it’s where you play a 70-minute match. But that last 20 is where you really feel your body going for it. And I think it was a smart decision because the last few days I felt really, really good.”

Alex Reid has penned today’s weekend special Football Daily.

Portugal v Uzbekistan on Tuesday enticingly pits the incredibly nice, incredibly 41-year-old-superstar-tolerant Roberto Martínez against Fabio Cannavaro, who’s won a Ballon d’Or as a player and the Chinese Super League as a coach. While the fixture following that game really does see the dream of Thomas Tuchel – in his first international job with England – taking on Queiroz, who is in charge of his ninth national side with Ghana.

The expected formations are 4-2-3-1 for Spain, and 5-3-2 for the Saudi Arabians.

The Saudi team features two Donis changes: Ali Lajami, a defender, and Nasser Al Dawsari, a midfielder, are preferred to Mohammed Abu Al Shamat and Mohamed Kanno. You may recall Salem Al Dawsari, the Saudi captain, as the man who scored the winner against Argentina.

An entertaining read, even for those of us who have just seen the clips.

In a conversation where his co-panelist is casually reminiscing about his days playing alongside Messi or exchanging shirts with Ronaldo Nazário at the World Cup, what exactly is Lalas going to talk about – coming on as a second-half substitute for Earnie Stewart in a friendly against Scotland in 1998? Helping the Kansas City Wizards finish last in the 1999 MLS Western Conference? Did Lalas enjoy an elite playing career? No. But does he do the background reading that could compensate for his relative lack of standing in a conversation with titans like Henry and Zlatan? Also no. But is he charming or funny or charismatic or otherwise magnetic on screen? Eh, no.

For the record, I once interviewed Alexi Lalas on the challenge of playing against Romario in the 1994 World Cup. He had this to say:

“He could kill you in so many different ways. If you remember from that World Cup, he scored so many types of goals. That ranged from solo adventures to an outside-of-the-right-foot half-volley off a corner kick. Romario was both the most difficult to play against and the best that I have faced.

“Roberto Baggio was doing his thing, but in terms of consistency and living up to the hype, he [Romario] was the best. As with all stars, there was a moment when the fans sit up in their seats, and that was a feeling I got with Romario. When it got close to him and the potential for his involvement in a play was there, everybody sat up in their seat. They knew that something spectacular would be happening.”

Saturday’s match reports here.

The Saudi Arabia coach, and Blackburn legend, Georgios Donis, spoke about the challenges facing his team: “Spain is not the same ⁠team when Yamal or Williams are on the bench.

“While they still have plenty of possession, they lack the individual one-on-one penetration when these two are ⁠missing. I’m not saying it’s a problem for Spain, but when those players are missing, they play in a different way. We saw this very clearly against ‌Cape Verde.

“We are playing against one of the best teams in the world, and it’s very important that when you play against these kinds of teams, you ‌should enjoy the experience and respect the opponent, but not too much.

“It is very hard for any team playing against Spain to have any time in possession. So what we must do is to be more in control of our movement and compact, and when the ball goes through the lines, be able to defend dynamically.

“It’s nice to see miracles in football, and we’ve seen favourites losing against underdogs. Of course, it’s great for Saudi football to have a great memory of the result against Argentina, but we aren’t drawing anything from that.

“I think we’ll feel more pressure in that [Cape Verde] game than we will against Spain.”

The Spain coach, Luis De La Fuente had this to say in his Saturday press conference: “This generation of footballers is highly competitive and really fired up… It’s going to be a completely different story,” he said at his pre-match press conference on Saturday. There is no drama or crisis. The bottom line is simply that we need to win tomorrow.”

Four changes for Spain: Lamine Yamal, Pedro Porro, Dani Olmo and Alex Baena also come into the side with Marcos Llorente, Fabian Ruiz, Ferran Torres and Gavi dropping out.

The teams – Lamine Yamal starts

Spain: Simon, Porro, Cubarsi, Laporte, Cucurella, Gonzalez, Rodri, Yamal, Olmo, Baena, Oyarzabal. Subs: Raya, Joan Garcia, Pubill, Grimaldo, Eric Garcia, Llorente, Merino, Torres, Fabian, Gavi, Pino, Williams, Zubimendi, Munoz, Iglesias.

Saudi Arabia: Al Owais, Abdulhamid, Tambakti, Lajami, Al Amri, Al Harbi, Nasser Al Dawsari, Al Khaibari, Al Juwayr, Al Buraikan, Salem Al Dawsari. Subs: Al Aqidi, Al Kassar, Majrashi, Yahya, Al Shehri, Al Boushal, Kadesh, Al Johani, Al Ghannam, Al Hajji, Al Hamdan, Mandash, Kanno, Thakri, Abu Al Shamat.

Referee: Raphael Claus (Brazil)

Perhaps one of the Saudi -players can write themselves into this high-grade selection?

Perhaps it can be their goalkeeper.

Al-Aqidi profile

Madrid screening of Spain v Saudi Arabia cancelled due to heat

The public screening of Spain’s World Cup match against Saudi Arabia in Madrid on Sunday has been cancelled because of extreme heat forecast for the Spanish capital, officials said.

The match, due to kick off at 6pm local time on Sunday, had been scheduled to be shown on a giant screen installed by the Spanish football federation (RFEF) at a fan zone in Plaza de Colón in central Madrid.

Madrid city council and the federation decided to cancel the screening after national weather agency AEMET issued an orange heat warning – the second-highest level – for the Madrid region, with temperatures forecast to reach 40C.

“The decision has been taken with the aim of protecting the health of attendees, event staff and support services involved in the event,” Madrid city hall said in a statement, apologising for any inconvenience.

Officials urged supporters to watch the match indoors in air-conditioned spaces and avoid prolonged exposure to the heat.

Large parts of Spain are experiencing unusually high temperatures for June as a mass of hot air from North Africa moves across the Iberian Peninsula.

A total of 13 of Spain’s 17 regions are on orange alert for heat on Sunday, while the northern Basque Country bordering France is on red alert, the highest level.

Authorities advised residents and visitors to take precautions during the heatwave, including drinking water regularly, staying in cool environments, limiting outdoor physical activity during the hottest hours of the day and taking extra care of vulnerable people. AFP

Can Saudi Arabia repeat the magic of 2022?

Argentina arrived in Qatar on a 36-game unbeaten run. When Lionel Messi opened the scoring from the penalty spot after 10 minutes, a comfortable afternoon seemed in the offing. Saleh al-Shehri and Salem al-Dawsari had other ideas, Argentina had three goals disallowed for offside in the space of 13 minutes and the greatest comeback in Saudi Arabia football history was made. Argentina went on to lift the trophy, while defeats to Poland and Mexico meant the Saudis did not reach the knock-out stage.

Unai Simon over David Raya is a controversial choice for De la Fuentes. The Arsenal keeper could lay claim to being Europe’s best this season.

“Those at the Champions League final had a few more days, so I got there on the Wednesday night,” Raya says. “I arrived a bit before Fabián [Ruiz]. I was saying hello to some of the others in reception when he arrived. I went to say congratulations; that was almost the first thing I did. I couldn’t really talk [to him] after the final; I just didn’t have it in me. The next day we talked about the game properly. Just two mates chatting … I was happy for him that he could lift the trophy for a second time.”

A high pressure game for the European champions, as Sid Lowe reports.

“If we had scored one, the game would have changed,” Martín Zubimendi said. Immediately after the game, De la Fuente had offered a simple analysis: when the ball doesn’t want to go in it doesn’t want to go in, he insisted. Spain had racked up 27 shots, after all. Ferran Torres had hit the bar and seen another clear opportunity saved. Vozinha, the 40-year-old goalkeeper who stopped that, saved six more and was named the man of the match. “There’s nothing to reproach the team for,” Rodri said. “We generated chances but couldn’t put it away; the good thing is they created almost nothing.”

We wait to see what role Lamine Yamal will play today. His coach would surely like to be able to use him.

The worst mistake we could make would be to compare him to anyone. He is the midst of a process. He has exceptional footballing maturity and lives it all with total naturalness. He has great serenity and strength. We have to let him follow his path but those players who have something different are ready for that. They’re geniuses, like Dalí [who] can paint a picture, or Michelangelo. They’re different. What is exceptional to us, isn’t to them. In those extremes, they feel comfortable. Why? Because they are different. What we think is exceptional, they consider normal.

Lamine Yamal profile

Preamble

Spain’s campaign did not get off to a flying start, and Luis de la Fuentes may wake up in the night to visions of Cape Verde’s Vozinha. He will have Georgia on his mind ever since Monday. Saudi Arabia are no pushovers and gave Uruguay a scare in their opening match. Memories of downing Argentina four years ago still abound, and so Spain might beware. They can ill afford to go into the final game with Uruguay at a disadvantage. All eyes on Lamine Yamal, whose fitness situation remains opaque, though Spain need their other forwards to come to the party.

Kick-off 5pm UK, 1pm ET, 2am AEST. Join me.

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