Ex-Fed governor Kevin Warsh is at top of his list to succeed Powell as central bank’s chair, president says in interview

Donald Trump declared he “should be listened to” by the Federal Reserve, as he weighs candidates to lead the central bank amid an extraordinary campaign by the White House to exert greater control over its decisions.

The US president said on Friday that former Fed governor Kevin Warsh is currently top of his list to chair the central bank.

Divisive vote to lower rates highlights uncertainty in the Fed as economy absorbs major shakeups, including tariffs

The US Federal Reserve announced on Wednesday that it was cutting interest rates by a quarter point for the third time this year, as the embattled central bank appeared split over how best to manage the US economy.

The Fed chair, Jerome Powell, has emphasized unity within the Federal Open Market Committee (FOMC), the board of Fed leaders that sets interest rates. But the nine-to-three vote to lower rates to a range of 3.5% to 3.75% was divisive among the committee that tends to vote in unanimity.

Rolling coverage of the latest economic and financial news, as Evoke decides to undertake a review of the Company’s strategic options

European stock markets are mostly in the red this morning, as defence company stocks fall.

Shares in German automotive and arms manufacturer Rheinmetall are down 3.3%, UK weapons maker BAE System has dropped by 1.27%, and Italian defence firm Leonardo has lost 2.2%.

Mainland European equity markets are heading lower in a day that will be dominated by monetary policy out of the Americas.

Notably, the defence sector has particularly suffered this morning, with the likes of BAE Systems, Rheinmetall, and Thales lose traction as the end of the Russia-Ukraine war comes into sight. Unfortunately for Europe, the peace agreement appears to be a deal Trump has formed with Russia behind the back of European leaders whom the President has labelled “weak”.

President did same thing his administration is now calling ‘mortgage fraud’ in case against Fed governor Lisa Cook

Donald Trump signed mortgage documents in the 1990s claiming two separate Florida properties would each serve as his principal residence – the same thing his administration is calling “mortgage fraud” when done by political rivals, records show.

ProPublica unearthed documents demonstrating that within seven weeks of each other in late 1993 and early 1994, the president obtained loans for neighboring Palm Beach homes, pledging each would be his primary dwelling. Instead of living in them, though, he rented both out as investment properties.