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Trump Nominates Kevin Warsh to lead the US Federal Reserve
US President Donald Trump has announced Kevin Warsh as his choice to lead the US Federal Reserve when current chairman Jerome Powell’s four-year term comes to an end in May, a move that could usher in a new phase for American monetary policy amid heightened economic and political scrutiny.
Warsh, a former Federal Reserve governor, is no stranger to the institution or to speculation around its leadership. He previously served on the Fed’s board from 2006 to 2011 and was widely considered for the chairmanship during Trump’s first term in office. Known for his critical views of the central bank’s recent policy direction, Warsh is expected to favour a more accommodative stance, including support for lower interest rates in the near term.
The nomination comes at a sensitive moment for the Federal Reserve, as questions about its independence have intensified following Trump’s increasingly public criticism of Jerome Powell. The president has repeatedly expressed frustration that interest rates were not cut more aggressively, arguing that faster action would have better supported economic growth.
Those tensions deepened recently after federal prosecutors opened a criminal investigation into testimony Powell gave to the Senate concerning renovations to Federal Reserve buildings. The Department of Justice probe prompted a strong response from Powell, along with public messages of support from several former Fed chairs and prominent central bank leaders, underscoring the institutional significance of the moment.
Against this backdrop, Warsh’s re-emergence as a leading contender had been widely anticipated in recent weeks, as speculation mounted over who would eventually succeed Powell. Trump formally confirmed his choice on his Truth Social platform, praising Warsh in emphatic terms and saying he “will go down as one of the GREAT Fed Chairmen, maybe the best.”
If approved, Warsh would assume leadership of the world’s most influential central bank at a time of exceptional challenge and opportunity. Economists and financial markets are closely watching how the Fed navigates inflation concerns, growth prospects and political pressure, making the next chair’s approach particularly consequential.
Before taking office, however, Warsh must secure confirmation from the US Senate, a process that could involve extensive hearings and potentially lengthy delays. That scrutiny is likely to focus on his views about interest rates, financial regulation and the long-standing principle of central bank independence.
Even so, supporters argue that Warsh’s deep experience during periods of economic stress — including the global financial crisis — positions him well to guide the Fed through a complex environment.
News
Chinese National and Kenyan Associate Charged Over Attempt to Smuggle 2,000 Ants
A Chinese national and his Kenyan associate have been charged with wildlife trafficking offences after authorities intercepted an attempt to smuggle more than 2,000 live queen ants out of Kenya.
Zhang Kequn was arrested last week at an international airport in Nairobi after officials discovered the insects hidden in his luggage. The ants were reportedly stored in test tubes and wrapped in tissue.
During a court hearing in Nairobi on Tuesday, prosecutors said Zhang had purchased the ants from Charles Mwangi at a rate of 10,000 Kenyan shillings (about $77) for every 100 ants.
Authorities say the case highlights a growing illegal trade in insects, driven by demand in parts of Europe and Asia where collectors keep species such as queen ants as pets.
Although officials have not confirmed the intended use of the ants in this case, Zhang’s luggage was reportedly bound for China.
Both men have been charged with illegal dealing in wildlife species and conspiracy to commit a felony. They remain in custody and have pleaded not guilty, according to local media reports.
Mwangi faces an additional charge after authorities allegedly found more live ants in his possession on a separate occasion.
Defence lawyer David Lusweti told the Associated Press that the two men were unaware they were breaking the law, arguing they believed the trade presented a legitimate business opportunity.
“They have seen potential that they are able to sell outside the country,” he said.
The case is scheduled to return to court on 27 March as investigations continue into the suspected wildlife trafficking network.
News
US Counterterrorism Chief Resigns Over Iran War, Urges Trump to ‘Reverse Course’
The head of US counterterrorism has stepped down in protest over the ongoing war with Iran, publicly urging President Donald Trump to change direction.
Joe Kent, director of the National Counterterrorism Center, announced his resignation in a letter posted on social media, sharply criticising the administration’s handling of the conflict.
In the letter, Kent argued that Iran posed “no imminent threat” to the United States and claimed the war had been initiated under pressure from Israel and its allies within the US.
Kent, a 45-year-old veteran of US special forces and the Central Intelligence Agency, also called on the administration to “reverse course,” warning of the broader consequences of continued military escalation.
The White House swiftly rejected his claims, maintaining that the president had acted on credible intelligence indicating an imminent Iranian threat.
Speaking from the Oval Office, Trump downplayed Kent’s departure, describing him as a “nice guy” but “weak on security.”
The president added that the resignation letter reinforced his belief that Kent’s exit was justified and reiterated his disagreement with the former counterterrorism chief’s assessment of Iran.
Kent’s resignation marks one of the most senior-level public breaks within the administration over the conflict, highlighting growing divisions in Washington over US policy toward Iran.
News
Nationwide Blackout Leaves Millions in Cuba Without Power After Grid Collapse
Millions of people across Cuba were left without electricity after the country’s national power grid collapsed on Monday, triggering widespread outages across the island.
Large parts of the country, including the capital Havana, were plunged into darkness, with residents relying on headlamps, generators and battery-powered lights overnight.
State power operator UNE said early on Tuesday that electricity was gradually being restored to several provinces and cities, though the process was expected to take time.
The blackout marks the latest in a series of major power failures affecting the Caribbean nation, where aging infrastructure and persistent fuel shortages have placed significant strain on the electricity system.
Cuba’s energy crisis has been exacerbated by reduced fuel imports, including declining supplies from Venezuela, as well as restrictions linked to policies by the United States targeting oil shipments to the island.
The outage has had a cascading impact on daily life. In many areas, water supply systems stopped functioning due to the lack of electricity needed to power pumps, worsening already difficult living conditions.
The crisis has also sparked public frustration. In central Havana, some residents staged protests, banging pots and pans in a rare display of dissent.
“It is not just the blackout,” said one resident, describing shortages of food, water and fuel, as well as rising prices driven by transportation challenges.
Another resident said the situation had become routine, reflecting the frequency of outages in recent months.
Cuba, home to around 10 million people, relies heavily on imported fuel to sustain its electricity generation. Officials have warned that the country has gone months without receiving major oil shipments, further straining its already fragile grid.
Amid the worsening crisis, Donald Trump has increased pressure on the Cuban government, warning of potential consequences if the country does not “make a deal,” while also suggesting the United States could take a more direct role in its future.
Authorities in Cuba say efforts are ongoing to stabilise the grid and restore full power, as engineers work to prevent further nationwide disruptions.
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