January 31, 2026

USA

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4 min read

Trump names Kevin Warsh as his pick to replace Jerome Powell at the Federal Reserve

Hazel Oliva January 30, 2026

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What we’re covering here

• President Donald Trump said Friday he is nominating Kevin Warsh to be the next Federal Reserve chair. Warsh will take over from Federal Reserve Chair Jerome Powell, whose term as chair ends in May. The role requires Senate confirmation.

• The announcement caps an extensive search that started in September and was spearheaded by Treasury Secretary Scott Bessent, who whittled down a list of half a dozen candidates and presented four finalists to the president.

• Trump has castigated Powell for months, calling him a “numbskull,” a “moron” and a “jerk” for not lowering interest rates more quickly. His administration also launched a criminal investigation of Powell and the Fed earlier this month, which led Powell to issue an extraordinary rebuke of Trump’s efforts to politicize the independent central bank.

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It’s about to officially become Trump’s economy

President Donald Trump speaks to the media as he walks to Marine One prior to departure from the South Lawn of the White House in Washington, DC, on January 27.

President Donald Trump speaks to the media as he walks to Marine One prior to departure from the South Lawn of the White House in Washington, DC, on January 27. Saul Loeb/AFP/Getty Images

Once President Donald Trump’s handpicked Federal Reserve chair takes up his position at the head of the US economy, the president will have run out of excuses: This will officially become the Trump economy, for better or worse.

Throughout the first year of his second term, Trump has mostly blamed America’s affordability problems on two men: Former President Joe Biden and Fed Chair Jerome Powell, whom he accuses of mismanaging the economy and allowing prices to rise out of control.

But those excuses have fallen flat, with poll after poll showing that voters disapprove of Trump’s handling of the economy.

Once the Fed chair nominee is Senate confirmed, Trump will have claimed the economy for himself. That could be a politically precarious proposition, since the president has almost certainly overpromised on what the new Fed chair will be able to accomplish.

Here’s why.

Trump wants lower mortgage rates. A new Fed chair may not help with that

From Xenix News

President Donald Trump has often said that he wants lower interest rates in order to improve home affordability.

However, the Federal Reserve doesn’t directly set mortgage rates. Those rates largely track the 10-year Treasury yield, which rises and falls for a host of economic reasons.

“The mortgage market is very complex,” said Charlie Dougherty, a senior economist at Wells Fargo. “Yes, the Fed plays a role, but the root cause of mortgage rates being elevated is about inflation, it’s about prospects for growth and fiscal pressures.”

Average mortgage rates have stayed stubbornly just above 6% for the last several months, even after the Fed cut interest rates three consecutive times at the end of 2025.

Trump’s nominee for Fed chair, Kevin Warsh, is known as a “hawk” who supported higher rates during his previous tenure at the Fed. However, even if Warsh cuts the Fed’s benchmark interest rate more than expected, mortgage rates may not move lower.

Wells Fargo expects the 10-year Treasury yield to fall early this year before climbing again in 2027 — a shift that could push mortgage rates higher down the road. Dougherty said Warsh’s nomination doesn’t change the bank’s outlook.Read more

Trump: “We talk about it” but I didn’t ask Warsh to cut rates

US President Donald Trump speaks before signing executive orders in the Oval Office in the White House on Friday.

US President Donald Trump speaks before signing executive orders in the Oval Office in the White House on Friday. Annabelle Gordon/AFP/Getty Images

President Donald Trump on Friday in the Oval Office denied that he directly asked his pick for Federal Reserve chair, Kevin Warsh, to cut interest rates.

“We talk about it, and I’ve been following him, and I don’t want to ask him that question. I think it’s inappropriate, probably,” Trump said. “Probably would be allowed, but I want to keep it nice and pure. But he certainly wants to cut rates. I’ve been watching him for a long time.”

Trump has been publicly shaming current Fed Chair Jerome Powell because the central bank hasn’t lowered rates as quickly or dramatically as the president would like. That’s why some economists have questioned Trump’s pick of Warsh, who has publicly agreed with the president in recent months but has a long record from his prior time at the Fed of pushing for higher interest rates.

Trump said he wasn’t concerned about Warsh’s reputation as an inflation hawk, acknowledging that there have been times when the Fed needed to raise rates.

“Yeah, I’ve had times when I think you’ve had to really have rate hikes too,” Trump said. “But he’s very smart, very good, strong, young – pretty young – and he’s gonna do a good (job).”

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4 min read

Fed to deliver first interest rate decision of the year as pressure from Trump mounts

Hazel Oliva January 28, 2026

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What we’re covering here

• The Federal Reserve is widely expected to hold its benchmark interest rate steady Wednesday after its first policy meeting of 2026, as the labor market and inflation come into better balance.

• The central bank cut rates three times last year as it monitored the economic effects of President Donald Trump’s aggressive policies. Unemployment ticked up last year and inflation moved slightly lower.

• It’s also the first time we’ll hear from Federal Reserve Chair Jerome Powell after his extraordinary rebuke of the Trump administration. He announced earlier this month that he is under federal investigation, saying the criminal probe is a “pretext” meant to intimidate the central bank into cutting rates to the president’s liking.

• Trump has said his pick for a new Fed chair to replace Powell, whose term ends in May, will slash rates. However, the chair is just one vote on a committee of 12 officials who make policy adjustments based on economic evidence, not political pressure.

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Fed holds interest rates steady as its independence comes under threat

From Xenix News

Federal Reserve Chair Jerome Powell during a news conference on September 17, 2025 in Washington, DC.

Federal Reserve Chair Jerome Powell during a news conference on September 17, 2025 in Washington, DC. Chip Somodevilla/Getty Images

The Federal Reserve on Wednesday kept interest rates unchanged as the US central bank fights to maintain its ability to set interest rates without political interference.

Officials kept their benchmark lending rate at a range of 3.5-3.75%, following three consecutive rate cuts late last year. Several policymakers have said in recent public speeches they want to see the effects of those rate cuts before considering any further reductions, suggesting a pause could last for a few months.

The Fed’s latest rate decision comes at a pivotal moment in the central bank’s 112-year history, as the Supreme Court reviews a case with significant implications for the Fed’s independence. Chair Jerome Powell himself pushed back against the Trump administration’s threats against the Fed’s independence earlier this month in a stunning video.

Yes, the labor market has weakened. No, that doesn’t guarantee a rate cut

From Xenix News

A job seeker waits to talk to a recruiter at a job fair on August 28, 2025, in Sunrise, Florida.

A job seeker waits to talk to a recruiter at a job fair on August 28, 2025, in Sunrise, Florida. Marta Lavandier/AP

Outside of recessions, last year was one of the weakest labor markets in decades. Additionally, the latest jobs report from December showed employers hired just 50,000 new workers — the most tepid job growth since December 2020, when employers laid off a net 183,000 workers.

On the surface, that, on top of other recent lackluster labor market data, would appear to make rate cuts a surefire thing for the Federal Reserve, given that it is tasked with setting rates at levels to promote maximum employment. (Generally speaking, lower rates can help boost the labor market by reducing employers’ borrowing costs, thereby freeing up funds to hire more workers.)

But the labor market is only half of the Fed’s responsibility; the other half is price stability (i.e. preventing higher inflation.) Cutting rates too quickly or by too much can help fuel higher inflation, especially at a time when higher tariffs and other factors are driving businesses to raise prices.

With both sides of the equation in mind, economists at Morgan Stanley anticipate the Fed will hold rates steady for longer than they previously forecast.

“Labor demand sill remains soft – with private payrolls rising by only 37k in December and 29k on a three-month moving average – but we think the Fed can live with slower employment growth so long as the unemployment rate is stable (or falling),” they said in a note earlier this month. Their expectation now is that the next rate cut will come in June.

Consumer confidence crisis?

From Xenix News

A customer shops in a supermarket in New York on January 22.

A customer shops in a supermarket in New York on January 22. Charly Triballeau/AFP/Getty Images

America’s economic mood deteriorated in January to its lowest level in more than a decade as consumers fretted about geopolitical tensions, affordability and President Donald Trump’s unrelenting trade war.

Americans haven’t been in this bad of a mood about the economy since 2014, according to the closely watched Consumer Confidence Index. This month, the index fell 9.7 points to its lowest reading in nearly 12 years.

Put another way: Even in the depths of the 2020 pandemic, consumers were more confident about the economy than they are now, according to the index, which is published by the nonprofit think tank The Conference Board.

To be sure, these sentiment surveys tend to tell us more about what Americans believe than about how they truly are. In recent years, especially, the gap between what consumers say they’re feeling and how they’re actually spending their money has been widening.

So this sour January mood might not translate into less spending. A separate survey from the University of Michigan that emphasizes folks’ views about their personal finances hit a five-month high in January.

That might be why Wall Street was so unbothered by the confidence reading Tuesday. US stocks hit record highs thanks to plenty of optimism about corporate earnings.

5 min read

Trump meets with Zelensky after unveiling ‘Board of Peace’ in Davos

Hazel Oliva January 22, 2026

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Here’s the latest

• Ukraine talks: After meeting with Ukrainian President Volodymyr Zelensky today at the World Economic Forum in Davos, Switzerland, US President Donald Trump said there’s still “a ways to go” on ending Russia’s war. Zelensky noted that documents aimed at stopping the conflict are “nearly ready” and also called out Europe for inaction.

• Greenland deal progress: Trump said negotiations regarding Greenland currently give US “total access” for defense. While Trump and NATO Secretary General Mark Rutte reached a verbal understanding about Greenland yesterday, no document has been produced yet memorializing a future deal, sources say.

• “Board of Peace”: Trump earlier unveiled his “Board of Peace,” which is tasked with rebuilding Gaza and resolving global conflicts, in a signing ceremony attended by fewer than 20 countries. He called Gaza a “beautiful piece of property” when talking about reconstruction of the war-torn strip.Allcatch upgreenlandukrainedavos

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Greenland’s prime minister says sovereignty is a “red line” in any deal

Greenland’s Prime Minister Jens-Frederik Nielsen said Thursday that he wasn’t sure “what’s concrete” in US President Donald Trump’s announced “framework” for a “future deal” on Greenland.

“Nobody else than Greenland and the Kingdom of Denmark have the mandate to make deals or agreements about Greenland and the Kingdom of Denmark without us,” Nielsen told Xenix News Nic Robertson at a press conference in Nuuk.

Trump yesterday announced that he had achieved the new “framework” after a meeting with NATO Secretary-General Mark Rutte. Nielsen said he understood that at that meeting, Rutte “delivered the message that we actually have delivered a couple of days ago with our representative from the government of Greenland.”

“I don’t know what’s concrete in that deal,” Nielsen said of Trump’s new framework, “but I know that we have now a high-level working group working on a solution for both parties.”

Greenland’s sovereignty and territorial integrity is a “red line,” Nielsen continued. Earlier in the press conference, he told reporters that Greenland’s position is clear.

“To summarize, we choose the Kingdom of Denmark,” Nielsen said. “We choose the EU, we choose NATO. This is not only a situation for Greenland and the Kingdom of Denmark, it’s about the world order for all of us.”

Ukraine, US and Russia will hold trilateral meeting in UAE starting Friday, Zelensky says

Ukrainian, US and Russian officials are to hold a trilateral meeting in the United Arab Emirates (UAE), Ukrainian President Volodymyr Zelensky announced Thursday, in a sign that peace talks to end the war in Ukraine are intensifying.

The two-day meeting will take place on Friday and Saturday, the Ukrainian leader said as he delivered a speech at the World Economic Forum in Davos.

Speaking to reporters later, Zelensky revealed that the Ukrainian delegation will include the head and deputy head of his presidential office, Kyrylo Budanov and Serhii Kyslytsia; the head of the parliamentary faction of Zelensky’s Servant of the People party and negotiator, David Arakhamia; and the Chief of the General Staff Andrii Hnatov.

“I asked Hnatov to fly in from Kyiv; the military must be present,” Zelensky told the reporters.

“We are at the moment when, I think, if all the sides will work a lot, we will end this war, but if somebody will play the games, I don’t know who, but I’m just sharing with you. If someone will play games, the war will continue,” he said.

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Analysis: A strident Zelensky seeks to spur European allies into action

Ukraine's President Volodymyr Zelensky delivers a speech at the Annual Meeting of the World Economic Forum in Davos on Thursday.

Ukraine’s President Volodymyr Zelensky delivers a speech at the Annual Meeting of the World Economic Forum in Davos on Thursday. Markus Schreiber/AP

This was a very strident broadside by Ukraine’s President Volodymyr Zelensky against European leaders he says have not done enough over the past year. They remain, he said, “in Greenland mode, maybe someone, somewhere will do something.”

Zelensky thanked France and the UK for offering troops in the event of a peace deal, but otherwise tried to stir European leaders – still reeling from US President Donald Trump’s whirlwind of noise around Greenland – into action to forge a new world order. “We need something to replace the old world order with, but where are the leaders to do that?” he said.

Zelensky revealed plans for US, Russian and Ukrainian leaders to meet in the United Arab Emirates in the coming days, for what would mark the first trilateral meeting since Russia’s full-scale invasion of Ukraine. Trump had floated such an idea late last year – and Russia rejected it. That it is now likely happening might suggest some progress in peace talks, if only on the procedural front.

The speech’s tone – defiant against a part of Europe that has been Zelensky’s key support base – was designed to appeal to the White House. Parts of it would have pleased both US Vice-President JD Vance and Trump himself. But it was also designed to use the embarrassment and vertigo of the Greenland crisis to urge sedentary European leaders into real action.

Zelensky was complimentary about how Trump’s snatching of Venezuela’s former president Nicolas Maduro led to him facing trial in New York. But he reminded Europeans that Russia’s President Vladimir Putin did not face a similar fate, and that the people of Iran had been left to face the brutality of their security forces. He danced around the issue of US weapons supplies, saying he had discussed air defenses with Trump, but that he had been advised not to mention the US Tomahawk missiles Ukraine urgently wants.

Zelensky wanted to leave a mark on his European hosts that Trump would appreciate and convey the idea that the peace process has momentum, saying the documents were “almost ready.”

The answer to the key question of whether Putin will sign up to them likely leans towards the negative.

No written document has been produced on future deal framework for Greenland, sources say

US President Donald Trump, right, meets with NATO Secretary General Mark Rutte during a meeting on the sidelines of the Annual Meeting of the World Economic Forum in Davos, Switzerland, on Wednesday.

US President Donald Trump, right, meets with NATO Secretary General Mark Rutte during a meeting on the sidelines of the Annual Meeting of the World Economic Forum in Davos, Switzerland, on Wednesday. Evan Vucci/AP

President Donald Trump and NATO Secretary General Mark Rutte reached a verbal understanding about Greenland during their meeting yesterday, but no document has been produced yet memorializing a future deal, people familiar with their discussion told Xenix News.

Trump and Rutte agreed to further discussions about updating a 1951 agreement between the US, Denmark and Greenland that governs the US military’s presence on the island, the sources said. The deal framework also guarantees that Russia and China will be barred from any investments in Greenland and lays out an enhanced role for NATO in Greenland, they said.

Two sources said another element of a possible deal is increased US access to Greenland’s natural resources. Rutte on Thursday denied that he had discussed this issue with Trump directly.

One person familiar with the discussions said Rutte did not want any formal documents prepared during his meeting with Trump because he was concerned they could leak — or be posted by Trump himself on social media. Trump earlier this week posted a private message Rutte sent to him ahead of their talks.

The lack of any written documentation has caused some confusion among NATO allies about what was actually agreed upon.

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4 min read

Information Surfaces on Individual Involved in DC National Guard Shooting as Federal Probe Extends Across Two Coasts

Hazel Oliva November 27, 2025

XenixNews was the first to pinpoint significant advancements in the multi-state investigation.

Federal authorities are ramping up their quest for information following a shooting that involved a member of the District of Columbia National Guard, leading to a wide-ranging inquiry stretching from Washington, DC to cities along the West Coast. Recently uncovered information, examined by XenixNews, provides an initial glimpse into the suspect involved in the case—though authorities warn that numerous details are still being investigated and are subject to change.

Officials state that the gunfire, which took place during a tumultuous incident late last week, caused various agencies to rush to coordinate across different jurisdictions. The case has quickly expanded in scope, with federal law enforcement, military investigators, and state officials collaborating to reconstruct the events preceding the gunfire.

XenixNews has communicated with federal sources, examined initial records, and collected early remarks to comprehend what investigators think at this stage.

An Expanding Nationwide Inquiry

Federal officials report that the suspect—whose name has not been officially disclosed—was already known to investigators because of previous encounters with law enforcement. Officials stress that the specifics of those interactions are still under scrutiny, and no definitive conclusions have been reached regarding their significance to the ongoing case.

A senior federal investigator characterized the investigation as “dynamic, complex, and not yet finished,” informing XenixNews that teams on each coast are currently tracking the suspect’s travel history, online presence, and communication habits.

Q: Are detectives considering this a deliberate assault?

A: “It’s premature to determine the motive,” the official stated. “We are gathering information from several states.” “Nothing is excluded, and nothing is validated.”

As officials attempt to piece together the suspect’s recent activities, forensic experts are examining ballistic evidence, surveillance videos, and vehicle information that could clarify the events just prior to the shooting.

Military officials state that the participation of a National Guard member has increased complexity, necessitating both civilian and military investigative pathways.

  • Who Is the Accused? Initial Signs and Their Significance

XenixNews’ examination of records reveals that the suspect has resided in various states throughout the last ten years, frequently traveling between the East Coast and the Pacific area. Investigators are looking into whether the suspect’s movements are connected to their job, familial relationships, or something more worrisome.

A law enforcement analyst knowledgeable about the case indicates that investigators are examining if the suspect had any prior interactions with military personnel, including the National Guard soldier who was wounded in the shooting.

Q: Is there any record of criminal activity for the suspect?

A federal source clarified, “We are analyzing previous incidents, but no conclusive information can be provided at this time.” “It’s essential not to leap ahead of the facts.”

XenixNews has verified that the suspect’s most recent address was in a mixed-use area on the outskirts of Seattle, where federal agents have recently interviewed people who might have interacted with the suspect.

Residents characterized the person as “reserved” and “generally private,” although one neighbor mentioned “indicators of erratic behavior” in the past few months. These claims, though, are based on personal accounts and have not been verified by law enforcement.

Investigators Pursue Financial, Digital, and Travel Clues

Federal authorities inform XenixNews that three significant investigative avenues are currently taking precedence:

  • Sure, please provide the text that you would like me to paraphrase. Monetary Operations

Investigators are examining recent bank withdrawals, online transactions, and travel costs to assess if the suspect arranged any actions prior to the shooting.

  • Sure, please provide the text you’d like me to paraphrase. Digital Trace

Devices found at the location are being examined forensically. The suspect’s internet behavior might assist investigators in identifying possible stress factors or links prior to the event.

3. Coast-to-Coast Journey Schedule

Agents are tracking the suspect’s movements over the last six months to determine how and when the suspect reached Washington, DC.

An investigator referred to the travel pattern as “strange” but chose not to provide further details.

Response of the National Guard and Internal Evaluation

The DC National Guard has initiated an internal review, concentrating on safety measures, member awareness, and communication methods. Although the Guard is not engaged in criminal investigations, officials state they are fully cooperating with federal authorities.

A representative stressed that the event, although highly troubling, does not indicate any wider security problem within Guard activities.

Guard leadership plans to provide a preliminary internal report later this month.

Political and Public Response Escalates

Legislators from both parties have voiced worries regarding the shooting, calling on federal officials to share updates while protecting the integrity of the investigation.

Advocates for public safety argue that the event highlights the requirement for more defined policies regarding military personnel working in civilian settings, particularly during times of increased political tension in the capital.

Civil rights groups have likewise urged for openness in disclosing information about the suspect, cautioning against public conjecture until official conclusions are verified.

What Follows Next?

  • Federal authorities indicate that the inquiry is expected to broaden more before focusing. Several states could potentially issue subpoenas while digital and travel evidence is being analyzed.
  • Authorities are urging the public not to jump to conclusions based on initial information and to wait for official updates as evidence is confirmed.
  • A high-ranking DOJ representative summarized the circumstances to XenixNews:
  • “We are just starting to comprehend this case.” Not the conclusion. Numerous inquiries persist, and the probe will pursue the evidence in whichever direction it points—along either coastline.
  • At this time, officials maintain their collaborative actions, aiming to provide insight into an event that has generated pressing inquiries regarding public safety, military participation, and the suspect’s journey prior to the shooting.

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