Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, denied that he would act as Trump's "sock puppet" if he's confirmed and said the president has directed him to lower interest rates.

The former Fed governor's upcoming confirmation hearing will test whether he can satisfy both a president demanding lower rates and a Congress demanding independence.

President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he does not resign after his term as head of the central bank ends in May. Trump made a similar threat against Fed Gov. Lisa Cook before attempting to fire her last August.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is pushing the Federal Reserve for records related to Fed chair-designate Kevin Warsh's actions as a member of the Fed board during the 2008 financial crisis.

Federal Reserve Gov. Michael Barr said in a speech Tuesday that rapidly changing trade policies and conflict in the Middle East are straining rural communities by raising business operating costs.

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink.

Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed's target.

Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates.

José Torres, senior economist at Interactive Brokers, breaks down the FOMC decision and Fed Chair Jerome Powell's press conference.

Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.

Despite bullish jobs data, yields surged post-FOMC, with three possible wave theory outcomes ahead, according to the head of correspondent business development at AD Mortgage.

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.

The Federal Open Market Committee is widely expected to keep interest rates steady when it concludes its regular meeting tomorrow, but rising uncertainty about inflation in the wake of the Iran war is clouding the monetary policy outlook.

A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.

Mortgage servicing rights are one of the most notoriously volatile assets in financial markets. The Federal Reserve's plan to loosen their capital treatment could foretell major problems in the future.

Treasury yields swung wildly after a soft jobs report as oil's surge added a new complication for the Fed, raising concerns about the rate path ahead, according to the head of correspondent business development at AD Mortgage.

The bank exited the $1.95-trillion asset cap last year, but it had remained subject to the rest of the eight-year-old order.

The heads of the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration, as well as the Federal Reserve vice chair for supervision, will testify in the Senate Thursday morning in their first joint appearance in the upper chamber since being confirmed.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.