India's annual budget made a fresh bet on the country's manufacturing sector as Finance Minister Nirmala Sitharaman laid out priorities for Asia's third-biggest economy and pledged to accelerate growth amid a volatile global environment.
* Trump says Warsh should have no trouble winning Senate confirmation. * Republican senator vows to block confirmation pending probe of current chair. * Trump expects Warsh to lower interest rates, says he didn't seek specific commitments. By Trevor Hunnicutt.
U.S. President Donald Trump said ?he thinks Kevin Warsh, ?his pick to ?head ?the Federal Reserve, could pick up ?votes from ?some Democrats in the Senate, calling him a "high-quality ?person" who ?should ?not have any trouble winning Senate confirmation.
Bitcoin, the world's largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET on Saturday, continuing its decline from the previous session. On Friday, ?bitcoin fell to as low as $81,104, the lowest since November 21, while the U.S. dollar ?gained after former Federal Reserve Governor Kevin Warsh was selected as ?the next Fed chair.
Bitcoin, the world's largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET on Saturday, continuing its decline from the previous session. On Friday, bitcoin fell to as low as $81,104, ?the lowest since November 21, while the U.S. dollar gained after former Federal Reserve Governor ?Kevin Warsh was selected?as the next Fed chair.
Kevin Warsh checks a long list of boxes for President Donald Trump as his pick to run the Federal Reserve, with longstanding political and social ties to the president, deep Wall Street connections and a well-tailored demeanor, but how deeply and quickly he will cut interest rates and how aggressively he will pursue his "regime change" at the Fed remain open questions.
* * Warsh's past Fed criticism now meets practical implementation test. * Warsh's stance on Fed's balance sheet and interest rates scrutinized. By Howard Schneider.
* Official PMI drops to 49.3 from 50.1 in December. * Non-manufacturing PMI falls to 49.4 from 50.2 in December. * Sub-indexes of new orders and new export orders also decline. China's factory activity faltered in January as weak domestic demand dragged down production at the start of the new year, an official survey showed on Saturday.
Kevin Warsh, President Donald Trump's pick to head the Federal Reserve, has earned over $1 million since 2020 as a member of the board of e-commerce company Coupang (CPNG), now at the center of trade tensions between the U.S. and South Korea. Warsh has served on the ?board of the Seattle-based company since October 2019, earning nearly $325,000 in total compensation each year since 2022.
U.S. Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday she still feels interest rates should fall, but voted to hold monetary policy steady this week only to gather more data before the next reduction in borrowing costs.
U.S. Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday she still feels interest rates should fall, but voted to hold monetary policy steady this week only to gather more data before the next reduction in borrowing costs.
The S&P 500 fell for the third day in a row as markets reacted to Kevin Warsh's nomination as the next Federal Reserve chair, while Wall Street finished January on a high note.
US equity indexes declined this week as big tech reported mixed quarterly results, producer price inflation turned hot, and President Donald Trump nominated policy hawk Kevin Warsh as the next chair of the Federal Reserve. The S&P 500 closed at 6,939.03 on Friday versus 6,940.01 a week ago. *Technology was among the worst performers as Microsoft's (MSFT) fiscal Q2 results hurt the sector.
US equity indexes declined on Friday as Kevin Warsh's nomination to be the Federal Reserve chair lifted the dollar and slammed precious metals amid hot producer price inflation data.
US equity indexes ended lower Friday after President Trump nominated Kevin Warsh as the next Federal Reserve chair, pushing the dollar higher and precious metals into freefall. * President Donald Trump has nominated former Fed governor Kevin Warsh to succeed Jerome Powell.
Plug Power Inc (PLUG) shares fell sharply Friday after President Donald Trump formally nominated former Fed governor Kevin Warsh as Federal Reserve chair, sparking fears that a more hawkish policy regime and potentially higher-for-longer interest rates could squeeze the hydrogen fuel-cell maker's capital-intensive growth plans. Here?s what investors need to know.
The U.S. cattle herd dwindled to its smallest size since 1951, the U.S. Department of Agriculture said on Friday, signaling that beef prices will stay high for consumers after setting records last ?year. The nation had 86.2 million cattle and calves as of January 1, the USDA said in a biannual ?report, after a persistent drought drove ranchers to slash their herds.
US equity indexes slumped ahead of Friday's close as Kevin Warsh's nomination to be the Federal Reserve chair boosted the dollar while sending precious metals into a tailspin.
RBC Capital Markets said the Bank of Canada delivered the expected hold this week, underlining that the timing and direction of the next rate move was uncertain. RBC continues to see a sizable risk of hikes late in the year. RBC said a steady hold at 2.25% was delivered on Wednesday, as expected.
Federal Reserve Governor Stephen ?Miran said ?on Friday that ?U.S. ?President ?Donald Trump has never ?asked ?him to do ?anything ?on ?monetary policy. "He has never asked ?me to do any specific ?action ?on monetary policy," Miran said ?during an interview on Bloomberg TV.
NEW YORK, Jan. 30, 2026 ?The CRE Finance Council issued the following statement from Lisa Pendergast, President and CEO, on the nomination of Kevin Warsh to serve as Chair of the Federal Reserve: "CREFC congratulates Kevin Warsh on his nomination to lead the Federal Reserve.
* US yield curve steepens with Warsh nomination. * Balance sheet may not be primary focus for Warsh, analyst says. * US producer prices rise in December, lift yields. * US rate futures price in two full cuts in 2026. By Gertrude Chavez-Dreyfuss.
Latin American currencies and stocks
fell on Friday after U.S. President Donald Trump announced his
nominee for the Federal Reserve chair, while Colombia's central
bank announced a ...
Fed Governor Christopher Waller said that he dissented in favor of a 25-basis point rate cut at the January FOMC meeting because he believes the current stance of policy is still restrictive given the ongoing weakness in the labor market and an inflation rate that is near the 2% goal when temporary tariffs impacts are removed.
US benchmark equity indexes were lower intraday, while gold and silver prices slumped after President Donald Trump nominated Kevin Warsh to be the next Federal Reserve chair.
Gold and silver prices sank Friday after US President Donald Trump nominated Kevin Warsh to replace Jerome Powell as Federal Reserve Chair in May. Gold futures slumped 11% to $4,763.71 per troy ounce, while silver slid 31% to $78.60. Earlier this week, gold futures surged past $5,600, while the white metal crossed $121 as investors turned to safe-haven assets amid mounting geopolitical uncertai...
St. Louis Federal Reserve President Alberto Musalem said on Friday the U.S. central bank does not need to cut interest ?rates further unless the job market starts to ?deteriorate or inflation falls. The current 3.50%-3.75% policy ?rate range is neutral, Musalem ?said in ?remarks prepared for delivery to an event at ?the University of Arkansas.
US equity indexes slumped in midday trading on Friday as Kevin Warsh's nomination as Federal Reserve chair boosted the dollar while sending precious metals into a tailspin, and as producer price inflation turned hot in December.
Colombia's central bank raised its benchmark interest rate by 100 basis points to 10.25% on Friday, its first hike in nearly three years and a larger move than most analysts had expected, as policymakers pointed to rising inflation ?pressures, a sharp jump in inflation expectations and mounting fiscal and external risks.
U.S. President Donald Trump on Friday said he will nominate former Federal Reserve governor Kevin Warsh to return as Fed Chair in May, as the president continues his campaign for lower U.S. interest rates. Here are five key things to know about Warsh:?. YOUNGEST-EVER FED GOVERNOR, CRISIS-TESTED.
President Donald Trump said on Friday it would be inappropriate to ask Kevin Warsh, his nominee to be the next chair of the Federal Reserve, whether he ?would cut interest rates, but added he was confident Warsh was ?inclined to lower borrowing costs.
Dr. Christina Rahm, Chief Formulator and Lead Scientist of The ROOT Brands, and Clayton Thomas, CEO, were invited to attend the 56th Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland, under the theme "A Spirit of Dialogue."
US equity indexes dropped as Kevin Warsh's nomination as Federal Reserve chair boosted the dollar and sent precious metals into a tailspin, and as the producer price inflation rate jumped in December. The Nasdaq Composite dropped 1% to 23,457.1, with the S&P 500 down 0.8% to 6,914.2 and the Dow Jones Industrial Average lower by 1.1% to 48,563.1 after midday Friday.
The Toronto Stock Exchange is sharply lower in midday trading, plunging near 1,000 points with all sectors lower as fourth-quarter GDP data shows Canada is struggling for growth. The worst performers are miners, and info tech, followed by industrials. Tiago Figueiredo at Desjardins said the Canadian economy appears to have ended the year on very weak footing.
Newmont Corporation (NEM) shares are trading lower Friday morning after President Donald Trump nominated former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as Fed chair in May 2026. Gold, tracked by SPDR Gold Trust , is trading over 6% lower Friday morning. Warsh is widely viewed as more skeptical of ultra-easy monetary policy than current chair Jerome Powell.
* Indexes down: Dow 0.86%, S&P 500 0.57%, Nasdaq 0.74% * Russell 2000 down 1.6% * Apple (AAPL) shares fall after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
The European stock markets were moving higher in Friday trading as The Stoxx Europe rose 0.6%, Germany's DAX gained 0.9%, the FTSE 100 was up 0.5%, France's CAC increased 0.7%, and the Swiss Market Index was moving 0.3% higher. In Germany, gross domestic product grew 0.3% in Q4 from Q3, adjusted for price, seasonal, and calendar effects, according to the Federal Statistical Office.
President Donald Trump said ?on Friday ?it would be ?inappropriate ?to ?ask Kevin Warsh, ?his nominee ?to be the ?next ?chairman ?of the Federal Reserve, whether he ?would cut interest rates, but ?added ?he was confident Warsh was ?inclined to lower borrowing costs.
President Donald Trump's pick of Kevin Warsh to lead the Federal Reserve is running into opposition from within his own party in Congress, as at least one Republican senator said on Friday he will block the confirmation if the Justice Department's investigation of U.S. central bank chief Jerome Powell continues.
* Tillis cites probe into Powell as reason to oppose Trump's Fed nominees. * North Carolina senator says Department of Justice's investigation is political interference. * Republicans divided over Trump's pressure tactics against Fed. By Bo Erickson, Andrea Shalal and Richard Cowan.
Federal Reserve Governor Stephen Miran said in a television interview Friday that he assumes Kevin Warsh, nominated to succeed current Fed chair Jerome Powell, will likely fill his expiring term at ?the central bank.
Federal Reserve Governor Stephen Miran said in a television interview Friday that he assumes Kevin Warsh, nominated to succeed current Fed chair Jerome Powell, will ?likely fill his expiring term at the central bank.
US producer price growth unexpectedly accelerated in December as the services index logged the largest. increase since July, the Bureau of Labor Statistics reported Friday. The producer price index rose by 0.5% on a seasonally adjusted basis last month, representing the biggest gain since September, government data showed.
Kevin Warsh, U.S. President Donald Trump's pick to chair the Federal Reserve, will likely boost the central bank's effort to ease Wall Street bank rules, and allow the administration a bigger say on regulation and supervision matters, said regulatory experts.
Senate Democratic leader Chuck Schumer said Republicans ?must not ?move U.S. President Donald ?Trump's pick ?to ?lead the Federal Reserve, ?Kevin ?Warsh, if Department of Justice actions ?against ?Jerome ?Powell are not dropped.
* Money markets price in a 30% chance of an ECB rate cut in 2026. * Borrowing costs little changed after euro zone economic data. * Risks of a second China shock in ECB's focus, Deutsche Bank says. By Stefano Rebaudo.
Top White House economic adviser Kevin Hassett on Friday said the Federal Reserve blundered in not cutting rates this week, in comments that also called for a swift approval of Kevin Warsh to be Fed ?Chair. Hassett, speaking on CNBC, acknowledged the legal issues that surround the Fed that could gum ?up any approval process until they are resolved.
Top White House economic adviser Kevin Hassett on Friday said the Federal Reserve blundered in not cutting rates this week, in comments that also called for a swift approval ?of Kevin Warsh to be Fed Chair. Hassett, speaking on CNBC, acknowledged the legal issues that surround ?the Fed that could gum up any approval process until they are ?resolved.
US President Donald Trump on Friday nominated Kevin Warsh to replace Federal Reserve Chair Jerome Powell, who has regularly been criticized by the US leader for taking a cautious view on lowering interest rates. Warsh served as a governor on the central bank's board from 2006 to 2011.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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