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Kevin Warsh Tapped to Lead Federal Reserve in Major Policy Shift

                                                       Kevin Warsh Kevin Warsh, a former Federal Reserve governor, has been selected by President Donald Trump to serve as the next chair of the U.S. central bank. His appointment signals a potential turning point for the Fed as it navigates debates over inflation, interest rates, and the future direction of monetary policy. Warsh previously served on the Federal Reserve Board from 2006 to 2011, a period marked by the global financial crisis. His background blends government experience, academic work, and private‑sector involvement, giving him a reputation as someone who understands both financial markets and the inner workings of the Fed. Trump has praised Warsh as a decisive leader who could bring a fresh approach to the institution. The nomination comes at a moment when t...
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Global Outage Sends Markets Tumbling: S&P/TSX and U.S. Indices Drop


The S&P/TSX composite index closed lower on Friday, reflecting a broader downturn in global markets. The index fell by 36.37 points to settle at 22,690.39. This decline was part of a larger trend, as U.S. markets also experienced significant losses.

The downturn was largely attributed to a global outage caused by a faulty software update from CrowdStrike, which affected numerous companies and organizations worldwide. In the U.S., the Dow Jones Industrial Average dropped 377.49 points to 40,287.53, while the S&P 500 and Nasdaq composite indices fell by 39.59 points and 144.28 points, respectively.

The Canadian dollar also saw a slight decrease, trading at 72.85 cents U.S., down from 73.01 cents U.S. on Thursday. Commodity markets were not spared, with crude oil prices dropping by $2.66 to $78.64 per barrel, and gold prices falling by $57.30 to $2,399.10 an ounce.

This market reaction underscores the interconnected nature of global financial systems and the widespread impact that technological disruptions can have on economic stability.


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