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• Virginia voters approve new congressional maps in blow to Trump

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Donald Trump said that he does not want to extend the two-week ceasefire with Iran, in an interview with CNBC. “I dont’ want to do that. We don’t have that much time,” the president said. The pause is set to expire tomorrow, and vice-president JD Vance will lead last-ditch talks in Islamabad today, in the hopes of striking a deal with Tehran.

However, speaking to Joe Kernen, Trump said that he plans to resume strikes if negotiations collapse. “I expect to be bombing because I think that’s a better attitude to go in with,” the president added. “But we’re ready to go. I mean, the military is raring to go.”

Finance chiefs to join exercise in Washington designed to assess how they would handle collapse of significant bank

The bosses of the central banks and treasuries of the UK, US and EU are to take part in a war game in Washington on Saturday to test how they would handle the collapse of a globally significant bank.

Amid growing unease over the risks to global financial stability, the most senior officials from the US Federal Reserve, the European Central Bank and the Bank of England – including its governor, Andrew Bailey – are expected to take part.

Fed chair Jerome Powell reportedly attends meeting in Washington following release of Claude Mythos

The US Treasury secretary, Scott Bessent, summoned major American bank chiefs to a meeting in Washington this week amid concerns over the cyber risks posed by Anthropic’s latest AI model, according to reports.

Jerome Powell, chair of the Rederal Reserve, was said to have been among those gathered at the Treasury headquarters for the meeting after the release of the Claude Mythos AI model that Anthropic says poses unprecedented cybersecurity risks.

Der Krieg im Nahen Osten treibt die Ölpreise in ‌die Höhe und löst auch in den USA Inflationssorgen aus. Die US-Notenbank reagiert nicht auf den Preisdruck, Fed-Chef Powell räumt jedoch ein, keine Ahnung zu haben, wie schlimm die Krise noch werde.

Committee chair Rand Paul and Markwayne Mullin exchange heated remarks at hearing to confirm new homeland security secretary

• Mullin never served in military but talks as if he did

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Rand Paul seemed immediately frustrated with Mullin as he opened the hearing. While he was speaking, he suggested that Mullin wasn’t listening to his remarks, during which he pushed Trump’s nominee on his vote against Paul’s amendment to stop all funding for refugee welfare programs.

“You decided to transfer the blame. You told the media that I was a ‘freaking snake’ and that you completely understood why I had been assaulted,” Paul said, referring to when he was attacked by a neighbor in Kentucky in 2017, which resulted in Paul breaking several ribs and developing pneumonia.

Wieder ein Krieg, wieder steigen die Rohstoffpreise – und schon wieder droht eine Inflation. Es ist wichtig, dass sich die Notenbanker nicht noch einmal verschätzen.

Upping tariffs may have lifted the president’s mood but it is a headache for the Federal Reserve and its next chair

Donald Trump and Denis Healey don’t have much in common. One of the greatest prime ministers Britain never had shares little of his famous hinterland with what some historians see as one of the worst occupants of the White House.

But Trump would be well advised to remember Healey’s first law of holes – when you’re in one, stop digging

The US supreme court ruled against the president. Let’s hope the court removes its pro-Trump glasses on other issues and stands up for the rule of law

There’s no denying that the US supreme court’s long-awaited ruling that overturned Donald Trump’s global tariffs is important, and if the ruling turns out to be a harbinger that the court is ready to abandon its startling sycophancy toward the US president, it could prove hugely important. The ruling this Friday is the first time during Trump’s second term that the justices have struck down one of his policies. Not only that, the policy they struck down is Trump’s signature economic policy – he has used tariffs to bash, lord over and terrorize dozens of other countries and make himself the King of the Economic Jungle.

In the court’s main opinion, joined by three conservative justices and three liberals, chief justice John Roberts used some sharp language to slap down Trump’s tariffs, writing that the constitution specifically gives Congress, not the president, the power to impose taxes and tariffs. (Roberts noted that tariffs are indeed taxes.)

Steven Greenhouse is a journalist and author, focusing on labour and the workplace, as well as economic and legal issues

Die Wall Street kann mit dem Kandidaten Donald Trumps für die Führung der US-Notenbank leben. Begeistert ist die Finanzwelt von dem ehemaligen Investmentbanker Kevin Warsh nicht.

Trump nominated Kevin Warsh, an ex-Fed governor, for the role as the White House continues to attack Jerome Powell

The US Federal Reserve requires “strong, sound and steady leadership”, according to Donald Trump. The president found a man to lead the central bank who would “provide exactly that type of leadership”, he declared.“He’s strong, he’s committed and he’s smart.”

This is not how Trump described Kevin Warsh, the former Fed governor whom he unveiled as his new nominee to chair the central bank on Friday – but how he hailed Jerome Powell, the current Fed chair, when nominating him for the job about eight years ago.

Pick of former Fed governor to replace Jerome Powell comes as White House seeks to tighten grip on central bank

Donald Trump has announced Kevin Warsh as his nomination for the next chair of the Federal Reserve, selecting a candidate who has been an outspoken critic of the US central bank.

The move ends months of speculation about who the president would pick to replace Jerome Powell, as he waged an extraordinary campaign to influence policymaking at the Fed by repeatedly calling for interest rate cuts. Powell’s second term as chair is due to end in May.

US-Präsident Donald Trump nominiert den Ex-Investmentbanker Kevin Warsh als nächsten Fed-Chef. Der hat sich vom Insider zum Kritiker der Notenbank gewandelt. Aber erfüllt er auch Trumps Wunsch nach niedrigen Zinsen?

Choice of former Fed governor to succeed Jerome Powell comes amid attack on central bank’s independence

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Donald Trump is expected to nominate the former Federal Reserve governor Kevin Warsh as its next chair amid an extraordinary attempt by the president to tighten his grip on the US central bank and flout its longstanding independence.

Trump told reporters on Thursday that he planned to announce his choice for chair of the Federal Reserve on Friday morning, hinting that “a lot of people think that this is somebody that could have been there a few years ago”.

Rolling coverage of the latest economic and financial news

If Kevin Warsh is nominated as the next Fed chair, it could lower the risks of another major drop in the dollar, ING analysts suggest:

The dollar has been waiting for a catalyst for a recovery, and the news that Kevin Warsh is likely to be announced as the new Federal Reserve Chair nominee today offers exactly that.

Warsh has been amongst the most market-friendly candidates, as he is a former Fed governor with a history of hawkish views, especially on balance sheet reduction.

Experts say factors including Trump’s aggressive policies and pressure on the dollar are pushing investors toward ‘safe haven’ of precious metals

Last year’s extraordinary run in precious metals has only intensified in 2026, as Donald Trump has continued to rip up the rules of the global economy.

Gold has been on a tear since last summer, repeatedly breaking records. It has risen by more than a quarter this month and hit a new high of just under $5,595 (£4,060) an ounce on Thursday.

Fed voted to pause cuts to interest rate, which currently sits between 3.5% and 3.75%, after slashing it three times in fall

The US Federal Reserve left interest rates unchanged after its first rate-setting meeting of the year on Wednesday, resisting enormous pressure from the White House to lower rates.

A majority of members in the Fed’s federal open market committee (FOMC) voted to pause interest rate cuts after slashing rates three times in the fall. Rates currently sit at a range of 3.5% to 3.75%.

Der US-Notenbankchef hatte sich schon ungewöhnlich klar gegen Ermittlungen des Justizministeriums gewehrt. Nun entscheidet Powell wieder einmal über die Zinsen.

Two officers involved have been placed on administrative leave in standard protocol, says CBP spokesperson

• Two agents who shot Minnesota man on leave as Trump says he will ‘de-escalate’

• Lawmakers condemn ‘disgusting’ attack on Ilhan Omar at Minneapolis town hall

Two federal officers fired their guns during the fatal shooting of Alex Pretti, according to an initial review by the Department of Homeland Security that was obtained by NBC News.

Three sources told NBC News that the preliminary report, from a Customs and Border Protection internal investigation led by the agency’s Office of Professional Responsibility, was sent to congressional committees yesterday, including the House homeland security and judiciary committees.

Dollar drops against basket of currencies after Donald Trump brushed off concerns over slide

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The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.

The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.

One Greenlandic member of Denmark’s parliament says the military alliance has no mandate to negotiate anything about the Arctic island’s sovereignty or mineral rights

• Trump walks back Greenland tariffs threat, citing vague ‘deal’ over territory

• Trump news at a glance: at Davos, president rambles, backs down and touts ‘future deal’ on Greenland

House Republicans are starting a push on Wednesday to hold former president Bill Clinton and former secretary of state Hillary Clinton in contempt of Congress over the Jeffrey Epstein investigation, opening the prospect of the House using one of its most powerful punishments against a former president for the first time.

The contempt proceedings are an initial step toward a criminal prosecution by the Department of Justice that, if successful, could send the Clintons to prison.

They’re not above the law. We’ve issued subpoenas in good faith.

For five months we’ve worked with them. And time’s up.