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Warsh Blocked, Prediction Markets Probed & Cuba Ruling | June 2025
Audio is available on Spreaker — see link below.
One senator's demand is freezing the Fed chair confirmation — and it has nothing to do with monetary policy. Plus: prediction market trading under congressional scrutiny and a Supreme Court ruling that puts cruise lines on the hook for Cuban property seized in 1960.
Audio is available on Spreaker — see link below.
One senator is holding up the next Federal Reserve chair, and his condition has nothing to do with interest rates. Republican Senator Thom Tillis said Tuesday he won't allow Kevin Warsh's nomination to advance out of the Senate Banking Committee unless the Justice Department drops its criminal investigation into current Fed Chair Jerome Powell.
Warsh spent Tuesday before the committee making a different kind of case. He pledged he would not cut rates under political pressure, and that he'd operate as an independent actor if confirmed.
The House Oversight Committee launched a formal investigation Tuesday into suspicious trading on prediction market platforms, including Kalshi and Polymarket. The focus is on geopolitical bets tied to potential military action against Venezuela and Iran.
The Supreme Court handed down a consequential ruling for the cruise industry Tuesday. The court threw out a lower court decision and ruled that cruise lines may be liable under the Helms-Burton Act for using property confiscated from US entities by Cuba.
Three things are worth tracking closely from here. First, whether the White House moves on the Powell investigation.
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