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Kevin A. Hassett had been seen as the front-runner in the Fed race, but his deep ties to the president raised questions about his independence.
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The United States warned Iran on Saturday over its plans to conduct live-fire drills close to U.S. forces in the region, as partners sought to de-escalate rising tensions between the two nations
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The House still must clear the legislation for President Trump's signature, but is not expected to return to Washington to do so before Monday.
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Mr. Warsh is known as a consensus builder, skills he will need if he is to head the Federal Reserve when President Trump is demanding rock-bottom rates.
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The sanctity of the 2026 vote is indeed under threat.
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Opinion is divided over whether Warsh will align with the US president's views over how the Federal Reserve should be run.
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Iranian protesters are holding out hope for help in their country amid increasing conflict, as President Trump is weighs military action in the region. NBC News' Molly Hunter talks to several of the protesters about the state of Iran and what they hope for.
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President Trump announced he plans to nominate Kevin Warsh to succeed Jerome Powell as chair of the Federal Reserve. Gene Sperling, former director of the National Economic Council, weighs in.
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Pressure was building on Iran on Friday as President Donald Trump weighed a military strike on the Islamic Republic and the Treasury Department sanctioned several officials it said were responsible for the regime's brutal crackdown on its own people.
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Kevin M. Warsh, whom Mr. Trump tapped to become the next chair of the Federal Reserve, could face fierce resistance if he tries to pursue substantially lower borrowing costs.
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