Finance, Currency, Debt, National Budgets & Interest Rates Archives

Fed Nominee Discloses $100 Million in Assets, Corporate Positions

14Apr

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

Fed Nominee Discloses $100 Million in Assets, Corporate Positions

April 14, 2026—Kevin Warsh, President Trump’s nominee to head the Federal Reserve, disclosed assets worth $100 million and professional positions and associations. Warsh is expected to face questions about the independence of the central bank. The Senate Banking Committee could hold a confirmation hearing for Warsh this week or next. Senators are reportedly awaiting his response to a committee questionnaire. At least one senator, Sen. Thom Tillis, R-NC, has expressed reservations about confirming a new chair while the Trump administration maintains a criminal probe into Fed Chair Jerome Powell over the central bank’s renovations. Powell’s term as chairman expires on May 15, but he has the option of staying on the board. Disclosures Display Deep Ties with Wall Street Warsh’s discl...

Judge Blocks Case Against Fed Chair, Citing Political Motives by Trump

13Mar

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Finance, Currency, Debt, National Budgets & Interest Rates, United States

Judge Blocks Case Against Fed Chair, Citing Political Motives by Trump

March 13, 2026—A U.S. District Court ruled that a criminal investigation of the Federal Reserve by the D.C. Attorney is politically motivated rather than for a “proper purpose.” In January, the U.S. Justice Department issued grand jury subpoenas to the central bank relating to a $2.5 billion renovation at the Fed headquarters. The ruling asserts that President Trump “has long coveted control over interest rates and yearned to lower them to his advantage.” A decision by District Court Judge James Boasberg effectively stops that investigation. He writes in Case 1:26-mc-00012-JEB: “There is abundant evidence that the subpoenas’ dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to resign and make way for a Fed Chair who will. On the othe...

U.S. Budget Deficit FY2026 on Track to Top $2 Trillion

10Feb

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Finance, Currency, Debt, National Budgets & Interest Rates, United States

U.S. Budget Deficit FY2026 on Track to Top $2 Trillion

February 10, 2026—The U.S. budget deficit is on track to top $2 trillion this year. In the first four months of fiscal year 2026, which started on October 1, 2025, the federal government ran a deficit of $696 billion. Revenues increased by 12 percent with higher receipts coming into the government from individual taxes and tariffs. The customs duties saw an increase of $90 billion, four times the amount the government received in 2025. Individual income taxes are projected to reach $925 billion in FY2026. Government spending held steady in the first four months at $2.4 trillion. The largest expenditures in the first four months were: Social Security ($538 billion), Medicare ($402 billion), net interest on the debt ($351 billion), and defense ($324 billion). The data comes from the...

Fed Nominee Kevin Warsh Wants ‘Regime Change’ at the Central Bank

3Feb

By Patti MohrNo Comments

Finance, Banks, Cryptocurrency, Metals, Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

Fed Nominee Kevin Warsh Wants ‘Regime Change’ at the Central Bank

Gold, Silver, and Crypto Fall From Highs as USD Strengthens February 2, 2026—President Trump’s nomination of Kevin Warsh to lead the U.S. central bank calmed recent trepidations in the markets about the value of the U.S. dollar. The term Fed Chair Jerome Powell expires in May 2026. Powell faces massive political pressure by Trump, including an ongoing criminal probe by the Justice Department related to construction expenses. Economist and Former Fed Governor Warsh is an economist and a former Federal Reserve Governor, familiar with both Wall Street and the governing side. Warsh is also the son-in-law to Trump’s close friend, Ronald Lauder, the billionaire heir to the Estée Lauder Companies, who—incidentally—also sparked Trump’s interest in owning Greenland. Warsh is known f...

India Proposes Shared Digital Currency for BRICS

1Feb

By Patti MohrNo Comments

Diplomacy and International Law, Finance, Currency, Debt, National Budgets & Interest Rates, Geopolitics, Types of News: Analysis

India Proposes Shared Digital Currency for BRICS

Will BRICS Emerge as a Geopolitical Bigwig in 2026? India is hosting the BRICS bloc this year. February 1, 2026—BRICS, an informal international organization of emerging market nations, lost some clout last year amid internal growing pains, external threats of tariffs from the world’s largest economy, and a dead-end attempt to offer an alternative to the U.S. dollar. Will this year be any different? The bloc includes major political players, such as its founding members Brazil, Russia, India, China, and South Africa. Last year, its membership grew to ten. The economic and geopolitical bloc now includes: Saudi Arabia, United Arab Emirates, Egypt, Ethiopia, Indonesia, and Iran. If members unify around common objectives, BRICS could reemerge this year as a geopolitical player. How...

The Rise of Central Bank Digital Currencies

29Jan

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Finance, Currency, Debt, National Budgets & Interest Rates

The Rise of Central Bank Digital Currencies

January 29, 2026—A majority of countries are now developing some form of digital currency. In fact, over 90 percent of central banks surveyed are actively exploring central bank digital currencies, according to reporting by the UK-based SQ Magazine covering the digital economy. They are in various stages of development, with more than 70 countries rolling out pilot programs. These include Japan’s digital yen, China’s mBridge platform and e-CNY, the European Central Bank’s digital euro, the UAE’s digital dirham, and Australia’s Project Acacia. In 2022, India launched the digital e-rupee, which now serves 7 million users but its use represents just a fraction of its circulation. Analysts say the benefits are cost efficiencies, while the drawbacks are a lack of privacy and compliance co...

27Jan

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Infographic

The Rise in Government Debt, 2000-2024

Debt-to-GDP is Soaring in These 20 Countries January 27, 2026—Debt is soaring across the world, but especially in countries considered part of the West. Five out of the seven G7 countries are in the top 10 debtor countries. Debt is measured as a ratio of the size of the economy (gross domestic product). See below how government debt in some countries, such as Japan, the United States, United Kingdom, France, Spain, and Canada, grew over the past two decades. *The illustrations do not include data from Mexico, Bangladesh, Myanmar, Singapore, most countries in Africa, including Libya, Eritea, Sudan, Kenya, and South Africa, and several countries in South America and Central America. Source: IMF The 20 countries with the highest government debt. Source: IMF

Gold Continued to Climb Amid Geopolitical Instability

23Jan

By Patti MohrNo Comments

Finance, Banks, Cryptocurrency, Metals, Finance, Currency, Debt, National Budgets & Interest Rates, Geopolitics, Global Economics, Types of News: Brief

Gold Continued to Climb Amid Geopolitical Instability

Gold is traditionally an asset of last resort. Photo by Peter Olexa. January 23, 2026—There was one clear winner amid the geopolitical tensions rocked by the U.S. encroachment into allies’ domains: Gold. The price of the precious metal climbed by 8 percent this week, from $4,600 a troy to $5,000. It was its biggest single week since the global financial crisis in 2008. It is notable because it could foreshadow economic instability and inflationary pressures for the average consumer. It could also indicate a weakening position of the United States. Asset of Last Resort Gold is traditionally an asset of last resort. Countries started moving off the gold standard in the 1930s to manage the Great Depression. The United States officially severed the link between the U.S. dollar and ...

Gold and Silver Hit Record Highs As Trump’s DOJ Squeezes the Fed

12Jan

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

Gold and Silver Hit Record Highs As Trump’s DOJ Squeezes the Fed

U.S. Central Bank Independence Questioned January 12, 2026—The price of precious metals soared to new heights as the U.S. central bank's independence came under greater political pressure. Gold and silver reached record highs, at $4,600 a troy and $86 an ounce, respectively. It comes as global investors grow wary of the increased political pressure by President Donald Trump on the Federal Reserve. Investors fear the central bank is losing autonomy to curb long-term inflation in the United States. Intensifying geopolitical tensions are also weighing on the markets. Year on year, gold prices increased by 70 percent, up from $2,715 a troy. Silver, meanwhile, swelled by 183 percent, from $30 an ounce in January 2025 to $86 an ounce today. Investors are placing bets on whether or not t...

1Jul

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

Senate Clears Trump’s Mega Budget Bill

Tax Cut Extension Would Increase the U.S. Debt by $4.2 Trillion July 1, 2025--The Senate approved President Trump's signature budget and policy bill today, as Vice President JD Vance broke a tie vote, clearing the bill for the House. The legislation, formerly known as the "Big, Beautiful Bill," would reduce taxes on the wealthy, cut the SNAP food aid program, and reduce the Medicaid healthcare for low-income people by $1 trillion. Furthermore, H.R. 1 would implement significant budgetary and policy changes. The new text totals 887 pages.The bill masks an estimated $3.3 to $3.8 trillion revenue loss to the federal budget. The bill, H.R. 1, would raise the current U.S. national debt of $37 trillion to historic new highs. The House passed a different version of the bill in May, rockin...