In a shocking, sweeping round of layoffs that took place on April 1, the tech giant shocked the entire industry by letting go of around 30,000 employees globally with just one cold email. What has drawn more attention is not just the scale of the cut altogether, but the profiles of those affected
Cole Tomas Allen parents: All we know as neighbor speaks out after WH shooting, ‘Very solid and…’Cole Tomas Allen, a Torrance resident, was identified as the suspect in a shooting incident at a gala in Washington, D.C. Updated on: Apr 27, 2026 4:36 PM IST By Shweta Kukreti Share via Copy link
Thirty students of Delhi University’s Hansraj College have been suspended in the past week for alleged violence and misconduct during an annual festival, and allegedly defaming the institute on social media, The Indian Express reported on Monday
The Jammu and Kashmir administration has declared Jamia Siraj-ul-Uloom, one of South Kashmir’s biggest seminaries, as an unlawful entity under the Unlawful Activities Prevention Act for alleged “covert linkages” with the banned group Jamaat-e-Islami, The Indian Express reported on Monday
Authorities in Jammu & Kashmir have declared Darul Uloom Jamia Siraj-ul-Uloom, one of Kashmir’s biggest educational seminaries in Imam Sahib area of Shopian district, an “unlawful entity" under the Unlawful Activities (Prevention) Act, 1967, over alleged links with the banned Jamaat-e-Islami
Kevin Warsh set to face early reality check as Trump’s man at the Fed
Kevin Warsh has been nominated by President Donald Trump as the next chair of the US Federal Reserve and faces an early test as he seeks to deliver on promises of major policy change. Warsh has pledged to shrink the Fed's balance sheet and argued that artificial intelligence–driven productivity gains will keep inflation low, creating room for lower interest rates. After three rate cuts late last year, the Fed paused in January amid persistent inflation and a steady labour market, with markets not expecting another cut before June.
Kevin Warsh waited almost a decade before finally clinching President Donald Trump's nomination to be chair of the Federal Reserve. He won't need to wait as long before his first big test in the job.
Having won the race with a promise of “regime change” at the Fed, suggesting he would make significant changes, Warsh has pledged to shrink the Fed's balance sheet and argued that a productivity boom driven by artificial intelligence will keep inflation low.
While that prognosis was enough to convince Trump, his Fed pick will now need to convince fellow policymakers and investors. After cutting rates three times late last year the Fed hit pause in January amid persistent inflation, signs of a stabilizing labor market and expectations for stronger growth in 2026. Traders aren't pricing another rate cut until June, at the earliest.
The tension in Trump's demand for cheaper borrowing costs may ultimately be resolved by a weakening labor market or lower inflation. Such a backdrop would greenlight Warsh to push for more rate cuts, and possibly win support from other policymakers.
But if those conditions don't play out, then delivering on his promises will prove much more difficult, according to TS Lombard economist Dario Perkins.
“The last thing an economist needs is to be given an opportunity to put their theories to test,” Perkins said. “It will be his reputation on the line, a sort of winner's curse.”
Withering Criticism
While Warsh is not viewed as being as close to Trump as Kevin Hassett, the White House insider he beat out for the Fed job, his views have fueled worries that he, too, might buckle to White House demands for much lower rates despite persistent price pressures.His previous withering public criticism of the Fed and praise for Trump came as the White House hammered policymakers for not cutting rates fast enough. An unprecedented Department of Justice investigation related to the overspend on renovations to the Fed's headquarters has only stoked concerns that Trump is seeking to remold the US central bank.
Analysts warn that pushing rates much lower during a time of persistent inflation and surging debt could rattle investor confidence, sending bond yields — and real borrowing rates — higher.
“He knows he will need to use his considerable skills to marshal evidence and analysis to support the direction he wants to take policy,” said Donald Kohn, who served as vice chair of the Federal Reserve during the 2008 financial crisis when he worked alongside Warsh, who was a governor at that time.
Ultimately, a Fed chair will be driven to do what is right for the economy, and any rhetoric used to secure the job should be viewed through that political lens, according to Michael Faulkender, former deputy to Treasury Secretary Scott Bessent.
“Irrespective of what someone says when they are a candidate for the position, a Fed chairman knows that his responsibility is to keep inflation low,” he said.
Still, since Trump returned to office in January 2025, Warsh has called for lower rates and, according to the president, told Trump in December he favored more cuts.
Productivity Bull
In a Wall Street Journal opinion piece in November, Warsh detailed some of the approach he would take as Fed chair: “Fundamental reform of monetary and regulatory policy would unlock the benefits of AI to all Americans. The economy would be stronger. Living standards would be higher. Inflation would fall further.”Warsh expanded on that theme in a Dec. 4 podcast hosted by Aven Financial Inc., when he said, “This is the most productivity-enhancing wave of our lifetimes — past, present and future.”
Those comments suggest a willingness by Warsh to assume that AI-driven productivity gains will insulate the economy from inflationary pressures and allow the Fed to cut rates even in the face of robust economic growth.
Warsh's Wall Street Journal article “veers too far into the world of praising the new world order that Donald Trump has created, meaning that the rules of monetary gravity no longer apply to the Fed when Trump is in the Oval Office,” Peter Conti-Brown, a professor and Fed historian at the University of Pennsylvania, wrote in a Substack column.
Aside from his bet on productivity, Warsh's plan to reduce the Fed's balance sheet as a vehicle to allow interest rates to come down has been greeted with skepticism.
“It offers an easy way to sound hawkish and serious about inflation while providing cover to later advocate for the rate cuts this White House wants,” Stefan Koopman, a senior macro strategist at Rabobank, wrote in a note.
In a Bloomberg survey conducted in early December, a majority of economists favored Fed governor Christopher Waller as the best choice on the administration's shortlist. Warsh was favored by 13% of respondents.
Long-Time Hawk
Appointed to the Fed's Board of Governors in 2006 by President George W. Bush, Warsh was noted for advocating higher rates even in the depths of the financial crisis, warning often of impending inflation. He has long been critical of the Fed's bond-buying programs and resigned from the Fed in 2011 soon after then-Chair Ben Bernanke embarked on a second round of purchases aimed at stimulating the overall economy.During the financial crisis, Warsh helped broker the sale of Wachovia Corp. to Wells Fargo & Co., and was the architect of a plan to supply the country's nine biggest banks with billions of dollars of capital in the fall of 2008.
Warsh will need to be confirmed by the US Senate. That process has been complicated by the DOJ probe into the Fed as a key Republican lawmaker has vowed not to approve any Fed nominees until that matter is resolved.
Regardless of who has the top job at the Fed, their ability to dictate policy will be limited. Rate decisions can only be taken by a majority of the Federal Open Market Committee, where the chair has just one vote. Even Powell, who enjoys wide respect on the panel, in December faced a stiff challenge in seeking broad support for a third straight rate cut.
If he struggles to lower rates, Warsh might reshape the central bank through other avenues. And in the wake of Fed missteps — its delayed response to the pandemic inflation surge and supervisory shortcomings exposed by the failure of Silicon Valley Bank — there's no shortage of those calling for reform. They include Treasury Secretary Scott Bessent, who has repeatedly accused the Fed of having strayed from its primary mandate of setting monetary policy.
“We get crisis — whether it's financial crisis, economic crisis, global pandemic crisis — then we get the blame, and policymakers and politicians, they look and they blame the Fed,” said Sarah Binder, a professor of political science at George Washington University. “It suggests to me that even if it doesn't succeed, attempts at reform are coming.”
Reform Calls
Whether reform is aimed at truly improving the institution, or serves as an excuse for gaining greater control over rates, is a separate question. Trump has said he wants a majority on the Fed's Board of Governors that shares his view of the economy.That raises questions about what other changes the White House may seek. Bessent has suggested the Fed curtail the deployment of its balance sheet and most recently proposed changing who is eligible to lead the 12 regional reserve banks. Given the Trump administration's history, other changes could include severe staff cuts.
Should Bessent pursue a true shakeup, the Fed chair will play a pivotal role in that process, said Mark Spindel, who along with Binder co-authored the book The Myth of Independence: How Congress Governs the Federal Reserve.
“The chair has a lot of control over the board staffing and what research questions get asked and answered,” Spindel said. Additionally, “a majority of the board has a lot of control over the system. They could essentially engineer replacements to certain district bank presidents, should they wish.”
Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
Related Posts: Who are Kevin Hassett and Kevin Warsh Trump picks Kevin Warsh to lead the US Federal Reserve Trump nominates Kevin Warsh to be Fed chief Trump administration prepares for Kevin Warsh Fed Chair nomination Kevin Warsh 'regime change' faces steep hurdles at a sprawling US central bank Donald Trump's latest judgeship nominee was almost nominated by Joe Biden Myanmar junta chief Min Aung Hlaing nominated as president Why Trump nominated 38-year-old Sergio Gor as US ambassador to India Who are Kevin and Maria McElroy Is Kevin Spacey homeless
Olympic medallist and World Champion P. V. Sindhu has assumed a full voting position on the Council of the Badminton World Federation (BWF) following her election as Chair of the BWF Athletes' Commission, according to a release. Horsens: One of the most accomplished athletes in the history of
1 days ago
Axis Bank has reported a decline in employee headcount for FY26, with its total workforce falling by around 3,000 employees year-on-year. The private lender said the reduction was linked to higher productivity and efficiency gains arising from sustained investments in technology
1 days ago
West Bengal Election 2026: Polls in the state are a battle of narratives. Parties are using food and cultural symbols to connect with voters. The TMC emphasizes Bengali identity, while the BJP seeks to broaden its appeal. Both are navigating a complex electorate where cultural affinity meets
1 days ago
Woman gets mom's thyroid levels tested at 3 labs, gets different results: Doctor explains why it happened, how to avoidAn influencer got her mom's thyroid testes from three labs, getting varying results. Experts highlight factors like biotin and calibration differences. Published on: Apr 27
1 days ago
Apple MacBook Ultra coming to top the Pro lineup in 2027, reports sayMacBook Ultra is rumoured to bring OLED display, possible touch support, M6 chips, and a thinner design, positioning it above the MacBook Pro lineup. Updated on: Apr 27, 2026 3:25 PM IST Share via Copy link You may be interested
1 days ago
U.S. President Donald Trump said on Sunday (April 26, 2026) that the suspect accused of trying to attack administration officials at a black-tie gala on Saturday night (April 25) was a “pretty sick guy” who had been flagged to law enforcement by family members.U.S
1 days ago
Manabadi AP SSC 10th Results 2026 Date Time Live: The Board of Secondary Education, Andhra Pradesh (BSEAP) is expected to announce the AP SSC Results 2026 anytime soon. According to media reports, the results are likely to be declared in the last week of April. Last year
1 days ago
PV Sindhu has stepped into a new role off the court, officially joining the Badminton World Federation (BWF) Council as a voting member after completing the formal vetting process. Her appointment was formalised at the end of 2025, with Sindhu making her first appearance before the global badminton
1 days ago
The ‘digital pacifier’ comes under scrutiny in the UK; here's what Indian parents have to sayAs screen dependency grows, the UK introduces fresh guidelines to help parents navigate early digital exposure. Here's what Indian parents have to say about it Published on: Apr 27
1 days ago
The new musical film about Michael Jackson has stormed the worldwide box office, scoring the highest opening weekend ever for a biopic. The singer's nephew Jaafar Jackson portrays him in Michael, which has taken $217m (£160m) globally since it opened on Wednesday
1 days ago
Bhooth Bangla worldwide box office collection day 10: Akshay Kumar film collects ₹150 crore; beats Sky Force lifetimeBhooth Bangla worldwide box office collection day 10: The horror comedy marks the reunion of director Priyadarshan and actor Akshsy Kumar. Apr 27, 2026
1 days ago
Farah Khan feels Aparshakti Khurana has better comic timing than brother Ayushmann Khurrana: ‘He became such good actor’Farah Khan reminisced about meeting Aparshakti Khurana during Om Shanti Om promotions, expressing initial doubts about his film career. Apr 27, 2026
1 days ago
Kejriwal flags timeline of Delhi judge Sharma and her children's legal postings: ‘At the very least, troubling’Arvind Kejriwal detailed a “sequence of events” of how Justice Swarana Kanta Sharma and her two children were given legal postings. Updated on: Apr 27
1 days ago
BJP National President Nitin Nabin on Monday said the party is confident of winning the upcoming West Bengal Assembly elections, citing strong support from workers and public protests against the current government. National President on Monday expressed confidence that the would emerge victorious
1 days ago
Oil prices rose Monday (April 27, 2026) while stocks were mixed with the United States and Iran no closer to ending their eight-week-old war after U.S. President Donald Trump cancelled his envoys’ trip for peace talks at the weekend. Hopes that the two sides could make progress during
1 days ago
JPSC JET 2024 Exam Cancelled: The Jharkhand Public Service Commission conducted the JET 2024 exam on Sunday, but the examination had to be cancelled at two centres. The cancellation was not due to a paper leak or any other mismanagement, but because of issues with the printing of the question
1 days ago
Rugby Premier League to have inaugural women's edition in JuneRugby Premier League (RPL) will have its inaugural women's edition in June. Updated on: Apr 27, 2026 2:57 PM IST PTI Share via Copy link Rugby Premier League (RPL) will have its inaugural women's edition in June with four franchise teams
1 days ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Need a reliable printer? Check these top WiFi colour printers under ₹20000Printing costs add up fast. Here are WiFi colour printers under Rs. 20,000 that handle daily work, photos
1 days ago
Ecommerce major Amazon India on Monday announced that its quick commerce arm Amazon Now will expand to 100 cities, backed by over 1,000 .This comes a few days after the company announced a Rs 2,800 crore investment to strengthen its infrastructure and operations across the country as part of a
1 days ago
Rich tributes continue to pour in for Raghu Rai, India's most celebrated photojournalist, following his death at the age of 83. Rai spent more than five decades documenting the country, capturing moments from political power to everyday life with striking clarity
1 days ago
Iran’s Foreign Minister Abbas Araghchi on Monday blamed the United States for the collapse of recent negotiations, as diplomatic efforts to end the conflict remain stalled. Speaking in Saint Petersburg during a visit to Russia, Araghchi said excessive US demands derailed talks that had shown
1 days ago
The Future of Knowledge Work Summit 2026 in Bengaluru will bring together enterprise leaders to navigate the shift toward AI-driven, human–machine collaboration. As AI reshapes workflows, decision-making, and organizational structures, the summit will focus on what truly works in practice
1 days ago
Iran’s Foreign Minister arrived in Russia on Monday (April 27, 2026) as peace efforts between Tehran and Washington hung in the balance, following a flurry of regional diplomacy and the collapse of planned talks in Pakistan. Abbas Araghchi arrived in Saint Petersburg
1 days ago
India is the second most sleep-deprived nation in the world. Average sleep in Indian cities has dropped to under six hours a night. One in three working adults reports chronic fatigue — and yet we celebrate this. For this week’s Health Matters
1 days ago
‘Bhaiya please bacche hain’: Indore couple with 2-year-old held hostage in car for 10 minutes, threatened with stickThe family remained trapped inside the locked vehicle as the man continued his aggressive behaviour, repeatedly demanding money. Published on: Apr 27
1 days ago
Rijiju said that 7 MPs, including Raghav Chadha and Swati Maliwal, they have not resorted to “abusive language and never created any indiscipline and unparliamentary conduct”. Vice President C P Radhakrishnan has approved the merger of seven Aam Aadmi Party (AAP) MPs with the BJP
1 days ago
Good news for all of the Indian travellers! Travel Saga Holidays has launched its amazing International Visa service for Indian travellers. The visa application process is not very easy for Indians, no matter the destination they have chosen. So
1 days ago
