I'm reading too fast--Pirro has asked Boasberg to vacate his earlier proceedings, but he hasn't yet done so. Nonetheless she is abandoning her plans to appeal. storage.courtlistener.com/recap/gov.us...

Stepping back, why wouldn't Pirro want to appeal? Judge Boasberg ruled that all of Trump's attacks on Powell counted against the scant evidence of wrongdoing. That probably isn't a precedent Trump's DOJ wants established by an appeals court.

Facing an imminent deadline for a risky appeal in her Fed investigation, Jeanine Pirro appeared to change tacks today. She is doing the legal equivalent of asking the court to forget her investigation ever happened, while dropping her demands the Fed hand over evidence.

Note that Pirro has said for weeks that she plans to appeal Boasberg's decision. Today she said she would file a motion to vacate. I'm not a lawyer, but those are different things. I've reached out to her office to clarify.

Jeanine Pirro tells CNN she will "continue to litigate" the investigation of the Powell Fed. "We're going to make a motion to vacate the order of Judge Boasberg, because we think it's extremely important for us as prosecutors, the precedent that it sets to prevent us from going into a grand jury."

Jeanine Pirro has little time left to file the appeal she has been promising in her Fed investigation. What she says will go a long way toward determining whether the investigation is "is well and truly over, with transparency and finality," as Powell put it.

It's a footnote to today's much bigger Fed story, but deep in his paperwork Kevin Warsh hints that he might want to change the way the Fed deals with swap lines. I'm still not clear what this means, but I wrote what I know. www.cnbc.com/2026/04/29/f...

Kevin Warsh gave his first on-the-record denial of any relationship to Jeffrey Epstein. His name appears in the files as a potential visitor to Epstein's island. Warsh says he visited St Barth's in December 2010 but never met Epstein or attended any of his events.

Kevin Warsh clears the Senate Banking Committee as expected. The question now isn’t whether he will get confirmed. He will. But will he set the record for the weakest Senate support? If he is confirmed on party lines, 53-47, that will be the lowest number of Senate votes for a chair ever.

Quite the late reversal

Warsh is moving ahead, Tillis says on Meet the Press. Warsh is now all but assured to be the chair of the Fed for the June meeting. www.cnbc.com/2026/04/26/t...

Where we stand with Warsh/Powell/Pirro as of Saturday morning: - A committee vote for Warsh is now scheduled for Wednesday. - We don't know if Tillis will vote yes. He hasn't said anything since Pirro said she was dropping the case. He will be on Meet the Press Sunday. - Fed hasn't said anything.

Trump Media, owner of Truth social, says in a securities filing that it has appointed Trump lawyer Boris Epshteyn to its board.

It’s 5:30 pm on a Friday and we haven’t heard from Tillis or the Fed. The Fed’s former general counsel says he thinks they are likely seeking some assurances from DOJ that the probe really is dropped. I can’t imagine Karoline Leavitt saying it isn’t dropped, just moved, has helped.

Exclusive with Emily Wilkins: Pirro is leaving "the door wide open for you to relaunch the criminal probe against Chair Powell," Democratic Sens. Elizabeth Warren and Dick Durbin say in a letter addressed to Pirro. They're asking if she coordinated with Trump. www.cnbc.com/2026/04/24/f...

Pirro's decision to drop her investigation of the Powell Fed is a step forward for Kevin Warsh, but not necessarily the Fed's independence. Not least because Pirro started the probe with no meaningful evidence of wrong-doing, and is saying she could restart it. www.cnbc.com/2026/04/24/f...

Pirro doesn't appear to be budging on the Powell Fed investigation, even after Thune said the Senate would take up its own investigation. Her office hasn't responded to questions about that, and she just gave a press conference (on scams) without addressing it. She has until May 4 to file an appeal.

I haven’t checked since I edited this brilliant Allan Sloan piece last year, but Devin Nunes was by far the best compensated CEO on Wall Street we could find as a percentage of revenue. He made $47m one year www.barrons.com/articles/djt...

I haven’t checked since I edited this brilliant Allan Sloan piece last year, but Devin Nunes was by far the best compensated CEO on Wall Street we could find as a percentage of revenue. He made $47m one year www.barrons.com/articles/djt...

My take on the Warsh hearing: Prepare for regime change. For all the pushback he got from the Senate, there was very little questioning of his core premise that the Fed has failed at its core mission. www.cnbc.com/2026/04/21/k...

Kevin Warsh in his opening statement says, "The Fed should not act..as an appellate court for matters that are rightly debated and decided elsewhere." This reads like a reference to Lisa Cook. He told me last year that it was appropriate for courts, not Fed officials, to weigh the merits of the case

Kevin Warsh ran a tech-focused VC fund for 15 years and counts Peter Thiel, Marc Andreessen and Alex Karp among his friends. No wonder he's an AI evangelist. @steveliesman.bsky.social and I wrote on what it would mean to have the first tech bro Fed chair. www.cnbc.com/2026/04/20/f...

Great explainer by @javierblas.bsky.social on the various prices of oil. Upshot: US physical prices will rise as a wave of tankers taps into what is currently a cheap market, but that will balance higher Asian prices. Overall futures accurately reflect a falling average price over next few months.

"Trump screamed at aides for hours" on Good Friday after he learned that two US airmen were missing. "Aides kept the president out of the room as they got minute-by-minute updates because they believed his impatience wouldn’t be helpful" "He even mused he should award himself...the Medal of Honor"

Bloomberg: "A total of 12 commercial ships completed successful outbound transits on Saturday morning London time, before it became clear that Iran was halting transits again. At least half of those that did get out had links to Iran." Wasn't the blockade supposed to stop those Iran-linked ships?

Merchant vessels report gunfire as they attempt to cross Hormuz, shipping sources say reut.rs/3QLIUJa

Tom Waits put out a new song??? And it’s a protest song with Massive Attack?!

New from me: Jeanine Pirro has until May 4 to file an appeal in the Fed investigation. She believes she can continue to investigate the Fed in the meantime, but at some point, she needs to turn up some actual evidence. She has yet to show any in public. www.cnbc.com/2026/04/15/f...

Kevin Warsh's financials are out. My quick math puts his personal wealth in the range of $100m-$200m just in terms of what's directly disclosed in the filings. There are many asterisks. His wife Jane Lauder has her own significant holdings. We're digging into this. www.cnbc.com/2026/04/14/f...

LSEG Shipping data show 12 transits of the Strait of Hormuz yesterday (US EST). There were 33 total over the whole weekend, per LSEG shipping, including some ships that did round trips. This is an imprecise count, and other providers will have different figures. But it isn't close to 34.

"'The de-escalation window for the global economy, such as it was, is over for now,' said @reziemba.bsky.social... 'Iran is betting they can hold out longer than the U.S. and the global economy.'"

"As Iran’s oil exports collapse, there’ll be no cash for imports, so activity implodes, the currency goes into a devaluation spiral and hyperinflation ensues. Had we done this for Russia after its invasion of Ukraine, I’m pretty confident we wouldn’t still be watching that war grind on."

Just speculating but Trump's blockade plan sounds a like lot what Fox News analyst Jack Keane described in a New York Post op-ed last week: Cut off Iran's oil exports with a naval blockade. nypost.com/2026/04/09/o...

I am eager to see if Kevin Warsh's financial disclosures show holdings in Palantir. He led Stan Druckenmiller's early investments in the company. They were involved for more than a decade. Warsh has been open about this, but we don't know the current financial relationship.

I spoke briefly to Jeanine Pirro today. She insists she plans to move ahead with her appeal in the Powell investigation, though it hasn't been filed yet and it isn't clear when it will be. Former prosecutors told me she has a tough road ahead. Bottom line: There's still no path to a quick resolution

Something like 10% of global oil production has been shut in. That flow can’t be turned on again like a light switch. Even if the war is over today, it will likely be months at best before we get back to something resembling normal.

JPMorgan research note: "The Supreme Leader no longer appears to sit at the apex of the system, while the IRGC has become more empowered... Any effort to force regime change would likely produce state failure rather than a stable political transition... There are no signs of capitulation."

The Senate will hold a nomination hearing for Kevin Warsh to chair the Fed on on April 16, a person familiar confirms to me. That sets up a game of chicken over the DOJ's probe into the Powell Fed, since Sen. Tillis is still vowing note to vote for Warsh while the probe continues. Here's the latest.

Scathing ruling from Judge Boasberg denying the motion to reconsider his ruling quashing the Powell/Fed subpoena: "The Government’s arguments do not come close to convincing the Court that a different outcome is warranted."

NYFed study of Treasury liquidity ends on an ominous note: "Economic uncertainty and interest rate volatility have increased since the end of our sample period—given the conflict with Iran and its repercussions—underlining the view that Treasury market liquidity warrants continued close watching."

A caveat to the cease-fire talk: Iran's president isn't normally the country's ultimate decision-maker. That's the supreme leader, who has that title for a reason. Iran in its best days has many competing power structures, and the regime is under intense stress now.

Powell: "I like to think that the chair should always be someone who is working to without regard to political and should be, therefore, a person who can be reappointed by either side. That's always been the case." Powell got 84 Senate votes in 2018, 80 in 2022. How many will Warsh get?

The way the Iranians are trying to use the market against Trump is just wild. It is a real weak spot!

The White House is dismissing the raft of worries coming out of CERAWeek about looming supply disruptions. "I think the oil execs aren’t geopolitical masterminds,” a White House official told me. The market is having trouble buying the optimism. A window to avoid an economic shock is closing.

wow, this one is a @steveliesman.bsky.social and @mattpeterson.bsky.social combo we have been waiting for!!!

Important story to watch from the FT about hints of trouble in Treasury markets. This detail on trading problems on Monday stood out. www.ft.com/content/2e01...

Javier Blas: “Based on my conversations with industry executives and government officials, the US understands that the next two weeks will make or break the physical crude market.”

"Prince Mohammed has argued that the United States should consider putting troops in Iran to seize energy infrastructure and force the government out of power, according to the people briefed by U.S. officials."

Goldman's Jan Hatzius: "core inflation should remain well-behaved...[because] higher energy prices will hit real income, GDP and employment, thus limiting the risk of a wage-price spiral." 🙃

"Countries around the world are facing a cliff-edge as the flow of liquefied natural gas from the Gulf comes to an abrupt end in the next 10 days, when a handful of final tankers from the region reach their destinations."