Kevin Warsh confirmed to lead Federal Reserve

WASHINGTON — The Senate confirmed Kevin Warsh on Wednesday to become chairman of the Federal Reserve for a four-year term.

The 54-45 vote concludes the process two days before Fed Chair Jerome Powell’s term ends. The Senate confirmed Warsh on Tuesday to a 14-year term on the board, effective as of Feb. 1, 2026. He fills a board position previously held by Stephen Miran, who has been a consistent voice for monetary policy easing.

Sen. John Fetterman, D- Pa., crossed the aisle to join the Republican majority for the confirmation.

Warsh’s path to the Fed had been temporarily obstructed because of a Justice Department investigation of renovation costs at the central bank’s headquarters. The probe was seen as part of President Donald Trump’s effort to pressure Powell to lower interest rates. Sen. Thom Tillis, R- N.C., a member of the Senate Banking Committee, took that view and vowed to block any Fed nominees until the probe was dropped.

Tillis voted with other Republicans on the committee to recommend Warsh for confirmation after the DOJ said it would end the investigation. But the department could reopen it and Powell says he will remain on the board because of the uncertainty. His term ends in 2028.

—CQ-Roll Call

Harvey Weinstein complains of chest pains as jury gets rape case against disgraced producer

NEW YORK — Harvey Weinstein took a turn for the worse Wednesday, complaining of chest pains as a Manhattan jury began deliberating whether he was guilty of raping actress Jessica Mann at a Midtown hotel.

“I’m advised he’s having chest pains and not feeling well,” Justice Curtis Farber told spectators shortly after 3 p.m., about four hours after the panel began its deliberations.

Weinstein, 74, has experienced an array of health setbacks in recent years. There was no indication he required hospitalization based on what was said in court, and Farber had already planned on sending jurors home early prior to being notified that Weinstein was feeling poorly.

After Farber instructed them on the law, the seven men and five women on the jury got the case at 11:07 a.m., set to weigh whether the multi-convicted Miramax founder is guilty of raping Mann, 40, on March 18, 2013.

The actor and hair stylist, who met Weinstein in her twenties while trying to make it as an actor in Hollywood, spent five days on the stand, frequently becoming distraught while divulging deeply personal details about her life and four-year relationship with Weinstein.

Weinstein’s first conviction in 2020 for raping Mann and sexually assaulting another woman, Miriam Haley, was overturned by the Court of Appeals in 2024 for reasons unrelated to either woman’s testimony.

Prosecutors retried the case last year, with a second Manhattan jury finding him guilty of the attack on Haley but failing to reach a unanimous conclusion on Mann, leading to a second retrial.

Deliberations are set to resume Thursday.

—New York Daily News

Florida gave Trump an illegal gift in presidential library deal, new lawsuit says

The state of Florida illegally attempted to curry special favor from the president by gifting downtown Miami land for Donald Trump’s planned presidential center and skyscraper, according to a new lawsuit filed in federal court Wednesday.

The complaint accuses Trump, his nonprofit presidential library foundation, Miami Dade College and its trustees, Florida Gov. Ron DeSantis and the other statewide officials of violating the Domestic Emoluments Clause of the U.S. Constitution, which bars sitting presidents from accepting financial benefits from individual states.

“As a result of Defendants’ conduct, other states have been forced into an arms race in which they must either compete with Florida to lavish gifts on the President or fear being unfairly disadvantaged — the precise scenario that the Domestic Emoluments Clause was adopted to prevent,” the lawsuit argues.

At the state’s request last fall, Miami Dade College transferred to a state board property that developers say is worth far more than the $67 million valuation by the Miami-Dade Property Appraiser’s office. That state board, run by the governor and the Florida Cabinet, then gave the land to Trump’s foundation.

The only restriction on that deed transfer is that there are “components” of a presidential library or museum constructed within the next five years. Trump has indicated he plans to build a commercial hotel on site, too. The lawsuit is asking a federal judge to declare “null and void the land transaction that resulted in the Domestic Emoluments Clause violation.”

Defendants in the case did not immediately respond to a request for comment from the Miami Herald.

—Miami Herald

Starmer rival Streeting set to resign and challenge British prime minister

Health Secretary Wes Streeting is preparing to resign from the U.K. government and challenge Prime Minister Keir Starmer for the leadership, according to his allies.

Streeting, who met Starmer briefly in Downing Street on Wednesday morning, is likely to quit the Cabinet this week and attempt to trigger a leadership contest, they said, requesting anonymity to disclose private deliberations. The Times was first to report the development.

In the event a contest is triggered, allies of Starmer said the premier backed himself to beat Streeting.

In order to successfully trigger a leadership contest, the health secretary needs to secure the support of 81 Labour Members of Parliament. It remains to be seen whether he has the requisite numbers. Backers of Streeting said they remained unsure and expressed concern he could lose a head-to-head contest against the prime minister.

By Wednesday afternoon, there was a push by supporters of Greater Manchester Mayor Andy Burnham to discourage Starmer from taking that stand. One said that they were encouraging members of the Cabinet and even the prime minister’s own staff to tell him he wouldn’t have enough support from the left of the party, urged him to instead set a timetable for a handover of power that even

A spokesperson for Burnham did not immediately respond to a request for comment.

—Bloomberg News