US-South Korea Alliance Faces a Test beyond Political Rhetoric 
RECAP: Asia Sentinel Stories for August 2026 
Taiwan’s Habit of Releasing Soldiers’ Full Names Seems Risky 
The US Senate on Tuesday confirmed Kevin Warsh as a governor on the board of the Federal Reserve, clearing the way for him to take the reins of the central bank later this week as the world’s largest economy faces inflation at a three-year-high.
The Senate voted 51-45 to confirm Warsh’s appointment to the board for a 14-year term, with the results largely along party lines.
The Senate will hold a separate vote to confirm Warsh as the central bank’s chair, taking over from incumbent Jerome Powell, whose term finishes at the end of this week.
Advertisement
US President Donald Trump has frequently insulted and criticised Powell, demanding the central bank lower interest rates faster, despite significant economic headwinds.
US consumer inflation came in at its highest year-on-year level since 2023 on Tuesday, registering at 3.8 per cent in April, with significant increases in both energy and food prices.
Advertisement
Warsh has backed lower interest rates, despite price increases having outpaced the Fed’s long-term 2 per cent target for years. The US labour market has also shown signs of weakness, with unemployment steady but job growth see-sawing between contraction and expansion for months.
Don't Miss:
-
Make home ownership a 5-year plan goal, Legco president says
-
Hong Kong a ‘trusted partner’ to drive Central Asia growth, city leader says
-
More Chinese pet owners choose TCM for chronic pet illnesses using herbs, bee stings, acupuncture
-
Iranians recount horrors of suspected US missile attack on first day of war
-
2 Hong Kong travel agencies, guide stripped of licences over ‘coerced shopping’