April 18 Birthday Horoscope: Here's what the tarot cards have in store for youIf your birthday falls on April 18, here’s what your year ahead looks like, as per Tarot. Updated on: Apr 18, 2026 11:08 AM IST By Kishori Sud Share via Copy link If you were born on April 18
A Constitution Amendment Bill for women's reservation in legislatures from 2029 and Lok Sabha seat increase was defeated. The BJP accused the Congress and opposition of betraying women. Opposition leaders stated the 2023 quota law should be implemented immediately
United States President Donald Trump said that he may not extend the tentative ceasefire with Iran if negotiations fail to produce an agreement by Wednesday, CNN reported. Trump also said that Washington would obtain Tehran’s stockpile of highly enriched uranium one way or another
Tamil Nadu Chief Minister M K Stalin expressed joy as the opposition successfully blocked the delimitation bill in Parliament. He credited the INDIA bloc MPs and women for this victory. Stalin highlighted the planned campaign and protests that built momentum
Is this the beginning of the end for the Golden State dynasty? The Golden State Warriors saw their season come crashing down after a 111-96 loss to the Phoenix Suns in the play-in, a defeat that felt heavier than just a scoreline. Jalen Green torched the Warriors for 36 points
RCB vs DC Playing 11: Defending champions Royal Challengers Bengaluru aim to reclaim the top spot in the IPL 2026 points table as they face Delhi Capitals. RCB, with a strong opening and middle order, will look to capitalize on their historical dominance against a Delhi side seeking to regain
Oura isn’t a household name in India, and many would be hearing of the Finnish brand for the first time, with the launch of the Oura Ring 4. As the name suggests, Oura has been at the wearable space longer than most people realize—over a decade at this point
Mumbai, Apr 17 (PTI) The Brihanmumbai Municipal Corporation (BMC) has launched ‘Movitrap’, an innovative mosquito-control device developed under its incubation initiative to combat vector-borne diseases like malaria and dengue, officials said on Saturday.Mumbai
Fed faces turbulent 2026 as Powell's term ends, independence tested
The US Federal Reserve braces for a turbulent 2026. Key policymaker changes are coming, including a new leader appointed by President Donald Trump. The central bank's independence will be tested by legal and political pressures. Personnel issues and policy debates will shape the economic outlook. The Fed's structure and decision-making processes face scrutiny.
The final U.S. Federal Reserve meeting of the year this week precedes a turbulent 2026 that will see key policymaker changes, including the arrival of a new leader to be named by President Donald Trump, and tests of its independence amid legal and political pressure.
Aside from the regular schedule of meetings and policy debates that have already spurred deep divisions about the risks facing the economy and the appropriate policy response, the first months of 2026 are crowded with personnel and other issues due to be resolved.
NEW LEADERSHIP AS OF MAY
Fed Chair Jerome Powell's leadership term ends in May, and Trump is expected to announce a successor early in the new year. Working from a short list including his top economic adviser Kevin Hassett and others, the nomination will kick off a sequence of events leading to the new chair's arrival likely in time to head the Fed's June meeting. The Senate Banking Committee will hold a hearing to vet the nominee, followed by a confirmation vote in the full Senate.
Powell enjoyed bipartisan support in two confirmation votes for the chair's job, winning by 84-13 when Trump first promoted him in 2018 and by 80-19 in 2022 when he was reappointed by former President Joe Biden.
The next chair may face a closer vote given the administration's open efforts to influence the Fed and the broad support central bank independence has among elected lawmakers. Trump's most recent nominee to the Fed's Board of Governors, Stephen Miran, was confirmed 48-47, with four Republicans not voting.
A 'TRUMP FED' MAY TAKE LONGER
The Fed's complex power structure can seem ungainly. It features a seven-person governing board whose members are nominated by the president and confirmed by the Senate overseeing the system; 12 presidents of the regional reserve banks with their own staff and areas of oversight; and the rate-setting Federal Open Market Committee that includes the governors and five of the reserve bank presidents, four of whom rotate into voting roles on two- or three-year cycles.
Recent rate decisions have already shown fissures among the different groups, with several of the reserve bank presidents among the most opposed to rate cuts for fear of inflation, and three Trump-appointed governors arguing rates should fall.
Wrangling more cuts from the 12 FOMC voters may be difficult, given that several of the incoming voters have staked out hawkish arguments already. The decision may ultimately depend on economic data, but in any case is likely to take longer than Trump wishes given the approach of midterm elections that will determine the control of Congress for the remainder of his time in office.
The Washington-based board has plenty of levers of influence beyond interest-rate policy, including the ability to change the central bank's rules for public communication, set the budgets and staffing of the reserve banks, and determine how the largest banks are regulated.
Major changes, however, would require a board majority, and even with the new chair Trump will have named only three of the seven seats because of how the board's 14-year terms are staggered. Miran's term actually ends in January, and to open a seat for the new chair he is expected to return to his job as the head of Trump's Council of Economic Advisers.
It's unclear when the next board seat beyond that will come open for Trump to fill. Powell's run as chair may end in May, but his board term extends to 2028, Trump's last full year as president. If Powell follows past practice he would also leave the board in May. But given the unprecedented pressure the Fed has faced from Trump, Powell has kept his options open.
Similarly, current Vice Chair Philip Jefferson's leadership term ends in September 2027, but the Biden appointee's board seat lasts until 2036. Two other Biden appointees also have terms that would outlast Trump.
THE COOK CASE IS A WILD CARD
Trump has taken steps to try to free up an additional board seat by trying to fire Governor Lisa Cook, whose term extends to 2038.
She has fought the firing in court, and so far the Supreme Court has let her continue in office while the matter is litigated rather than allow her immediate removal as requested by Trump.
The high court is expected to hear the case in January, and the decision will draw particular scrutiny given the implications for the central bank's independence and for Trump's influence over monetary policy.
REGIONAL BANK PRESIDENT SELECTION PROCESS ATTRACTS SCRUTINY
While usually in the background, the selection and retention of the regional bank presidents was brought to the fore recently when Treasury Secretary Scott Bessent took interest in the fact that many of the current regional heads were hired from outside the areas of the country they ostensibly represent.
The regional banks were set up as part of a federalist structure meant to offset the influence of the country's political and financial centers in Washington and New York.
The heads of the regional banks, however, now run large and complex organizations along with participating in monetary policy debates. They are selected by local boards of directors, typically following national talent searches that have drawn leaders from the corporate sector, academia, and from within the Fed itself.
While Bessent said his recent suggestion of a residency requirement wasn't meant to apply retroactively, it was a rare Washington intervention into what is usually, and mostly, a local choice. The Board of Governors does oversee the regional banks, and some legal opinions suggest the regional presidents could be fired at will by a board majority - a fact that could open them to pressure on rate decisions. All are currently up for new five-year terms, with a decision on the reappointments expected early in the new year.
Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
Related Posts: US Federal Reserve officials showed deep divisions at December meeting Trump orders removal of Federal Reserve governor Lisa Cook Trump orders removal of Federal Reserve governor Trump picks Kevin Warsh to lead the US Federal Reserve Judge says 'no evidence' to justify US Federal Reserve probe U.S. Supreme Court lets Lisa Cook remain as Federal Reserve Governor for now The Federal Reserve wrestles with how many interest rate cuts to make and how fast Federal Reserve expected to announce second rate cut as economy faces challenges The Federal Reserve wrestles with how many interest rate cuts to make and how fast Justice Department probes mortgage fraud claims against Lisa Cook of Federal Reserve
Tata Consultancy Services (TCS) CEO and MD K Krithivasan on Friday informed that the IT major has initiated a formal independent investigation into the sexual harassment incident at its Nashik facility, bringing in external experts and constituting a board-level oversight mechanism to ensure the
1 hours ago
Marketa Vondrousova, the 2023 Wimbledon champion, has found herself at the centre of a storm after being charged with a doping violation. The charge, brought by the International Tennis Integrity Agency, relates to an out-of-competition test in December.Marketa Vondrousova
1 hours ago
Why are RCB wearing green jersey against Delhi Capitals for IPL 2026 match at Chinnaswamy?Royal Challengers Bengaluru will don green jerseys against Delhi Capitals, emphasising their sustainability campaign. Updated on: Apr 18, 2026 1:58 PM IST Written by Probuddha Bhattacharjee Share via Copy link
1 hours ago
Maharashtra Chief Minister Fadnavis on Saturday chaired a review meeting of the Home Department over the Nashik conversion case, saying that religious conversion cases would not be tolerated under any circumstances. Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Saturday chaired a review
1 hours ago
Think heart disease starts at 50? Heart surgeon reveals shocking truth: ‘Begins as early as age 3…’Heart disease risk is built in at an early age. It does not develop abruptly in middle age, suggesting the importance of early prevention and healthy habits. Published on: Apr 18
1 hours ago
The Malayalam television industry is facing a deeply emotional moment as colleagues, friends, and viewers come to terms with the loss of actor Siddharth Venugopal. News of Siddharth’s demise was confirmed through actress Seema G Nair, who had been closely associated with his treatment journey
1 hours ago
Pranavi lone Indian to make cut in Joburg Ladies OpenPranavi lone Indian to make cut in Joburg Ladies Open Published on: Apr 18, 2026 1:46 PM IST PTI Share via Copy link Johannesburg, Pranavi Urs was the sole Indian to make the cut as she scraped through into the weekend rounds on the cutline at
1 hours ago
‘Hold Parliament on Monday, bring old bill, let's see who is anti-women’: Priyanka leads Oppn charge as govt move fails‘Old bill’ refers to 2023 law that already provides for 33% quota for women in legislatures. It was in fact notified this week. Delimitation is the caveat
1 hours ago
Why South Korean president’s visit to India mattersThis article is authored by Torunika Roy, research associate, Korea Chair, Council for Strategic and Defence Research (CSDR), New Delhi. Published on: Apr 18, 2026 2:01 PM IST By Torunika Roy Share via Copy link Starting today to April 21, 2026
1 hours ago
Hansika Motwani says therapy helped her heal post-divorce from Sohael Khaturiya: ‘I was in a dark space’Hansika Motwani opened up about her divorce, emphasising family support during a challenging time and her decision to move forward without regrets. Apr 18, 2026
1 hours ago
Why Pizza 4P’s Bengaluru outlet became ‘Pizza for Peace’ in Kannada: Japanese owner reveals real reasonOwner and CEO of Pizza 4P’s, Masuko Yosuke, shared a tweet on why he opened a store in Bengaluru and the meaning behind the name. Published on: Apr 18
1 hours ago
Academicians and experts came together at the West Bengal National University of Juridical Sciences (WBNUJS) in Kolkata to share concerns and discuss the possibilities in the area of the animal and fish breeders’ rights. The discussion titled “Animal and Fish Breeders’ Rights: An Imperative
1 hours ago
Ukrainian drones targeted industrial cities along the Volga River and a Baltic Sea port near St. Petersburg. A fire was extinguished at the Vysotsk port, which handles fuel exports. Attacks also hit industrial targets in Syzran and Novokuibyshevsk, cities known for their oil refineries
1 hours ago
New Delhi, Apr 18 (PTI) A day after a united opposition defeated a Constitution amendment bill to tweak the women’s quota law and increase the number of seats in legislatures through delimitation, Parliamentary Affairs Minsiter Kiren Rijiju on Saturday accused the Congress of being anti-women
1 hours ago
A graduate from the National Institute of Technology has gone viral after claiming that only a tiny portion of what she studied in college is actually useful in her current job. The woman, identified as Manvi, shared her thoughts in a video posted on Instagram
1 hours ago
U.S. President Donald Trump’s administration on Friday (April 17, 2026) issued a waiver allowing countries to buy sanctioned Russian oil and petroleum products at sea for about a month, seeking to control global energy prices that have shot higher during the U.S.-Israeli war on Iran.U
1 hours ago
Gold and silver prices in India on April 18, 2026 remained largely steady with minor fluctuations across major cities, even as global markets reacted to geopolitical tensions in West Asia and mixed signals from the US dollar. Precious metals, which are traditionally considered safe-haven assets
1 hours ago
While addressing the debate on linking the women’s reservation bill with delimitation, Rahul Gandhi joked about him and PM Modi not having wives. Congress leader Rahul Gandhi on Friday led the opposition’s debate in Lok Sabha amid a row over linking the Delimitation Bill to the Women’s Quota
1 hours ago
Train Safety Tips: Even a minor lapse in judgment while traveling by train can prove costly; therefore, remaining vigilant is absolutely essential. By adopting a few simple precautions, you can make your journey both safe and stress-free. Indian Railway Safety Tips: Millions of people travel by
1 hours ago
More than 300 humanoid robots participating in China's second robot half-marathon on Sunday will be facing tougher terrain designed to test their technical advancements, as Beijing seeks to develop the industry into a major pillar of its economy.Over 70 teams
1 hours ago
Pak Army chief Munir concludes three-day Iran visitPak Army chief Munir concludes three-day Iran visit Published on: Apr 18, 2026 1:26 PM IST PTI Share via Copy link Islamabad, Pakistan's Chief of Defence Forces Field Marshal Syed Asim Munir has concluded his three-day visit to Iran as part of
1 hours ago
Bollywood-inspired Brazilian telenovela recreated Kajra Re, used Beedi Jalaile; internet stunned: ‘How could this exist’The 2009 telenovela Caminho das Índias has resurfaced online, captivating audiences with its Bollywood-style drama and intercaste romance. Apr 18, 2026
1 hours ago
Oil prices plunged more than 10% on Friday (April 17, 2026) after Iran said the Strait of Hormuz would be “completely open” for the rest of the ceasefire with the United States, and stock markets surged. Iran’s Foreign Minister Abbas Araghchi said on X that “passage for all commercial
1 hours ago
Delhi techie who quit ₹40 LPA Google job opens up on life after corporate: ‘I now own 100% of my time’A Delhi techie quit his ₹40 LPA+ Google job and chose to explore life, prioritising freedom over a predictable career. Published on: Apr 18
1 hours ago
Trump expands claim, says he stopped 10 wars including Iran and LebanonWhile speaking at the Turning Point USA event, Trump once again claimed that he stopped the war between India and Pakistan. Updated on: Apr 18, 2026 12:59 PM IST By Karishma Ayaldasani Share via Copy link US President Donald
1 hours ago
The Odisha Government recently issued guidelines for industrial houses to undertake “compensatory irrigation” in line with “compensatory afforestation”, if irrigation land needs to be acquired for different projects. “While both agriculture and industrialisation are necessary for creating
1 hours ago
IT raids TMC leaders ahead of West Bengal election; Mamata Banerjee questions timingRaids were conducted on premises of TMC MLA Debashish Kumar, who is fighting from Rashbehari, and Miraj Shah, a proposer of Mamata’s candidature from Bhabanipur Published on: Apr 18
1 hours ago
