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Trump’s Fed chair pick Kevin Warsh ignites fight over independence on Capitol Hill
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Republicans praised the track record of Trump’s nominee to chair the Federal Reserve on Friday as Democrats raised questions about how much control President Donald Trump would look to exert over his replacement for Jerome Powell — the current chair who has clashed with the president on the country’s economic policy.
Trump formally nominated Kevin Warsh to the chair position on Friday, kicking off his confirmation process and immediately sparking questions from Democrats about whether Warsh will maintain the Fed’s independence or align its operations with the president’s political goals.
Either way, Sen. Tim Scott, R-S.C., chairman of the Senate Banking, Housing and Urban Affairs Committee, noted the next Fed chair would impact every area of the economy.
POWELL REVEALS WHAT IT WOULD TAKE TO STEP DOWN FROM THE FED AS PRESSURE MOUNTS
Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, D.C., April 25, 2025. (Tierney L. Cross/Bloomberg via Getty Images)
«The Federal Reserve’s decisions touch every American household, from mortgage rates to retirement savings, and President Trump has been clear that bringing accountability and credibility to the Federal Reserve is a priority. His nomination of Kevin Warsh reflects that focus,» Scott said.
But amid questions over Trump’s relationship with Powell, Sen. Elizabeth Warren, D-Mass., said she fears Trump picked someone who he can use to make economy-shaping decisions.
«Donald Trump said anybody who disagrees with him will never be Fed chairman. Former Fed governor Kevin Warsh has apparently passed the loyalty test,» Warren said.
Warren is the ranking member on the Senate Banking, Housing and Urban Affairs Committee.
The Fed, led by its chair, maintains U.S. financial stability by governing the U.S. money supply and credit conditions to keep inflation under control and maximize employment — a role in which it answers to Congress, according to the Fed’s website.
After starting his career in the private sector, Warsh began working for the Bush administration in 2002 as a special assistant to the president and would go on to receive a nomination to serve on the Fed’s board of governors in 2006.
At just 35 years old, Warsh became the youngest appointee in Fed board history. He served in that role until 2011.
THUNE WARNS DOJ’S PROBE OF FED CHAIR POWELL ‘BETTER BE REAL’ AND ‘SERIOUS’ AMID POLITICAL BACKLASH
Trump originally considered Warsh for the position of Fed chair in 2017 but eventually nominated Powell instead. Trump also considered him as a candidate for Treasury Secretary after winning re-election in 2024.
Sen. John Cornyn, R-Texas, who sits on the Senate Committee on Finance, said he would support Warsh based on that track record.
President Donald Trump, left, pictured alongside Kevin Warsh, right, the president’s nominee to be the next Fed chair. (Stefani Reynolds/Bloomberg via Getty Images; Tierney L. Cross/Bloomberg via Getty Images)
«With decades of experience in finance and economics spanning government and the private sector, Kevin Warsh is eminently qualified to serve as chairman of the Federal Reserve. I trust that with him at the helm, the Federal Reserve will help guide our nation on a path of historic prosperity and opportunity just as President Trump has,» Cornyn said in a statement Friday.
HOUSE DEMOCRATS DEMAND PROBE INTO TRUMP DOJ’S CRIMINAL INVESTIGATION OF FED CHAIR POWELL
«I applaud the president for nominating Kevin Warsh for this post, and I look forward to supporting him in the Senate.»
In the House of Representatives, Rep. French Hill, R-Ark., chairman of the House Financial Services Committee, echoed Cornyn’s support.
«With his service as a member of the Federal Reserve Board of Governors, combined with his decades of academic and financial market experience, Kevin Warsh brings a clear understanding of the responsibilities of the Fed, and I congratulate him on his nomination,» Hill said.
«He has demonstrated a commitment to fighting inflation and to keeping prices in check for American families, and I am pleased that President Trump put forward such a qualified nominee.»
Despite the support among many Republicans, Trump’s nomination faces opposition from Sen. Thom Tillis, R-N.C., who said he would block the nomination unless the DOJ ends an ongoing probe into the current chairman. Powell is under investigation for allegedly misleading senators under oath about the scope and timeline of a billion-dollar renovation of the Fed’s headquarters.
Bipartisan critics of the probe view it as a tool Trump is using to push Powell to slash interest rates — a move Powell has resisted. Powell believes making that call at the president’s request would jeopardize the Fed’s independent decision-making.
Warren shares that view.
Sen. Elizabeth Warren, D-Mass., questions former executives of failed banks during a Senate Banking Committee hearing on Capitol Hill, May 16, 2023, in Washington. (Drew Angerer/Getty Images)
«This nomination is the latest step in Trump’s attempt to seize control of the Fed and follows the Trump administration’s weaponization of the Department of Justice to open criminal investigations into Fed Chair Jerome Powell,» Warren said.
«No Republican purporting to care about Fed independence should agree to move forward with this nomination until Trump drops his witch hunt,» Warren added.
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Jerome Powell’s term ends on May 15. The Senate has not yet announced when Warsh’s confirmation hearings will begin.
«I look forward to leading a thoughtful, timely confirmation process that carefully examines his vision for focusing the Federal Reserve on its core mission,» Scott said.
federal reserve,congress,politics
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Mexico’s most-wanted fentanyl kingpin, «El Mencho,» was captured and killed Sunday after authorities tracked his romantic partner to a secret rendezvous location over the weekend, Mexican officials revealed Monday.
The operation reportedly began Feb. 20, targeting Jalisco New Generation Cartel leader Nemesio Oseguera Cervantes, known as «El Mencho.» He carried a $15 million U.S. bounty and rose to power following the arrest of Joaquín «El Chapo» Guzmán, the former head of the Sinaloa Cartel.
Defense Secretary Ricardo Trevilla Trejo said during a news conference that military intelligence identified and located a trusted courier or guard connected to one of Oseguera Cervantes’s romantic partners.
The associate then transported the partner to a designated cabin for an overnight meeting with «El Mencho.»
A mughsot of Ruben «Nemesio» Oseguera Cervantes, known as «El Mencho,» beside graffiti depicting the letters of the Jalisco New Generation Cartel, covering the facade of an abandoned home in El Limoncito, in the Michoacan state of Mexico. (Eduardo Verdugo/AP Images; Drug Enforcement Administration)
«On February 20, through central military intelligence work, a man of trust of one of El Mencho’s romantic partners was located, who took her to a facility in the town of Tapalpa, Jalisco,» Trevilla Trejo said.
The following day, the partner left the property, but intelligence confirmed that Oseguera Cervantes remained behind with a small security detail, prompting authorities, including Army Special Forces and the National Guard’s Immediate Reaction Force, to carry out the operation.
Security forces reportedly raided the private property after aerial surveillance spotted Oseguera Cervantes’ inner circle openly carrying illegal high-caliber weapons, including rocket launchers and long guns.
A worker sorts freshly printed copies of the newspaper PM bearing the headline «U.S. mapped ‘El Mencho’ and Mexico delivered the final blow, Caught between two fires,» following the killing of drug lord Nemesio Oseguera, known as ‘El Mencho,’ in a military operation, Sunday, in Ciudad Juarez, Mexico,. (Jose Luis Gonzalez/Reuters)
During the confrontation, Oseguera Cervantes’ security detail reportedly fired «very violently» on military personnel, triggering Special Forces to engage the attackers. Officials said eight criminals were killed in the initial phase — correcting earlier reports of four — and two military personnel were also wounded.
CARTELS OUTGUN POLICE: ROCKET LAUNCHERS SEIZED IN EL MENCHO RAID SPOTLIGHT CJNG FIREPOWER
Smoke billows from burning vehicles amid a wave of violence, with torched vehicles and gunmen blocking highways in more than half a dozen states, following a military operation in which a government source said Mexican drug lord Nemesio Oseguera, known as «El Mencho,» was killed, Sundya, in Puerto Vallarta, Jalisco, Mexico. (@morelifediares via Instagram/YouTube/via Reuters)
Amid the chaos at the cabins, Oseguera Cervantes and his «close circle» fled into a nearby wooded area, officials said. After soldiers located them «hidden among the brush,» cartel suspects allegedly opened fire on the troops. Military personnel then wounded «El Mencho» and two of his escorts in the shootout, according to Trevilla Trejo.
Military medics determined that Oseguera Cervantes and his two escorts were in critical condition and required immediate evacuation by helicopter. Oseguera Cervantes and his two escorts ultimately died during transport, officials said.
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Authorities noted that 2,500 reinforcements were sent to join the 7,000 already in the state to prevent further violence in the cartel’s retaliation.
Oseguera Cervantes’ capture and subsequent death marks one of Mexico’s most significant blows to drug trafficking and organized crime since President Donald Trump called for intensified crackdowns on cartel violence.
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mexican cartel violence,location mexico,drugs,crime,world
INTERNACIONAL
Liberaron bajo fianza al ex embajador británico en EEUU, Peter Mandelson: permanecerá bajo investigación por conducta indebida
La policía de Londres liberó bajo fianza al ex embajador en Estados Unidos, Peter Mandelson en la madrugada de este martes, en el marco de una investigación sobre sus vínculos con el financista estadounidense Jeffrey Epstein.
El documento oficial informó que Peter Mandelson permanece bajo fianza “y pendiente de posteriores investigaciones”, sin proporcionar detalles adicionales “para no prejuzgar la integridad de esa investigación”.
El arresto de Mandelson, de 72 años, ocurrió días después de la detención del ex príncipe Andrés, ambos implicados en indagaciones sobre conducta indebida en un cargo público relacionadas con documentos recientemente divulgados sobre Epstein.
Mandelson, figura clave en la política británica y ex enviado del Reino Unido a Washington, fue arrestado alrededor de las 17:00 (hora local) del lunes bajo sospecha de mala conducta en un cargo público.
“Un hombre de 72 años arrestado bajo sospecha de mala conducta en un cargo público ha sido puesto en libertad bajo fianza en espera de una mayor investigación”, informó el lunes la policía metropolitana en un comunicado emitido aproximadamente nueve horas después del traslado de Mandelson a una comisaría de Londres.
Imágenes difundidas por la televisión británica mostraron a Mandelson acompañado por un hombre y una mujer al salir de su residencia en el norte de Londres, después de que la policía allanara sus propiedades a principios de mes.
El arresto se produjo pocos días después de la detención de Andrés Mountbatten-Windsor, hermano menor del rey Carlos III, quien fue liberado bajo investigación en una causa separada por mala conducta en un cargo público, también relacionada con los nuevos documentos sobre Epstein.
Mandelson está siendo investigado por presuntamente haber enviado documentos confidenciales a Epstein durante su gestión como ministro del gobierno, incluso en el contexto de la crisis financiera de 2008. Hasta el momento, la policía no detalló cuáles documentos forman parte de la investigación.
En septiembre pasado, el primer ministro Keir Starmer removió a Mandelson de su puesto como enviado a Washington, luego de la publicación de documentos que documentaban el alcance de su relación con Epstein. El nombramiento desató una crisis política en Downing Street, provocando la renuncia de dos asesores principales de Starmer.
El primer ministro pidió disculpas a las víctimas de Epstein por la designación de Mandelson y acusó al ex enviado de falsear la información sobre su relación con el financista durante el proceso de selección. “Defenderemos la integridad de la vida pública y haremos todo lo que esté a nuestro alcance y en interés de la justicia para garantizar que se haga efectiva la rendición de cuentas”, expresó Starmer.
La Comisión de Inteligencia y Seguridad del Parlamento revisa actualmente los documentos vinculados al nombramiento de Peter Mandelson, aunque los archivos completos permanecen sin publicar a solicitud de la policía para no interferir con la investigación en curso.
El pasado 8 de febrero, la policía metropolitana informó que agentes del equipo de delitos especializados ejecutaron órdenes de allanamiento en dos direcciones del área de Londres: una en Wiltshire y otra en Camden. Las autoridades señalaron que estos operativos forman parte de la investigación en curso contra Peter Mandelson.
La investigación también examina la posible revelación de hechos sensibles relacionados con el rescate financiero de 500.000 millones de euros que la Eurozona evaluaba en 2010. Durante ese periodo, Peter Mandelson se desempeñaba como ministro en el gobierno encabezado por el ex primer ministro británico Gordon Brown.
El Departamento de Justicia de Estados Unidos difundió el 30 de enero más de tres millones de archivos vinculados al caso Epstein. Entre los documentos figuran tres pagos a Peter Mandelson de 25.000 dólares cada uno, enviados entre 2003 y 2004 desde cuentas bancarias del multimillonario.
(Con información de AFP)
International,Relations,Diplomacy / Foreign Policy,Europe
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