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The U.S. Senate has confirmed Kevin Warsh as Federal Reserve Chair, a move that has sparked debate over the central bank's independence. The confirmation, which saw bipartisan support from Senator John Fetterman, comes amid rising inflation and political pressure from the Trump administration.
The U.S. Senate confirmed Kevin Warsh to the Federal Reserve Board by a 51-45 vote on Tuesday. The vote paves the way for a subsequent ballot on his appointment as Fed chair.
US Treasury Secretary Scott Bessent said excessive volatility in foreign exchange markets is undesirable, warning it could disrupt trade and investment flows. The remarks come amid sharp currency swings and a strong US dollar, raising concerns about global economic stability.
Japan's Nikkei index surged over 6% on May 2, crossing the 63,000-point mark for the first time in history. Analysts credited the rally to expectations of BOJ monetary policy and a global economic recovery. Shares of technology and export giants led the gains.
