The central bank's projection may be devastating to a historically expensive stock market.

This is shaping up to be a momentous week for the Federal Reserve. What comes next for the Fed's leadership has come into clearer focus in the last three days, but one big question hangs over the institution.

Warsh, nominated by President Trump to replace Fed Chair Jerome Powell, also said he'll work with the White House on some matters.

The Federal Reserve Bank of Cleveland's inflation-forecasting tool points to an even faster increase in prices in April, which may eventually force the Federal Open Market Committee to act. Speculation about a quick end to the Iran war and strong earnings growth stemming from the evolution of artificial intelligence clearly has investors excited.

Federal Reserve officials are expected to leave the central bank's key interest rate unchanged at what is likely Fed Chair Jerome Powell's last meeting.

David Brooks of The Atlantic and Jonathan Capehart of MS NOW join Geoff Bennett to discuss the week in politics, including the Justice Department dropping its probe into Fed Chair Jerome Powell. GEOFF BENNETT,

Kevin Warsh is taking another step toward his decade-long goal of winning the top job at the Federal Reserve by appearing at a hearing before the Senate Banking Committee on Tuesday. But the role that he may eventually assume could turn out vastly different than what he expected.

The Justice Department on Friday dropped an investigation into the Federal Reserve and its leader, Chair Jerome Powell, regarding a renovation project at the central bank's Washington headquarters."This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers,

The Federal Reserve has little reason to adjust interest rates in the near term because the U.S. economy remains on solid footing despite recent uncertainty, according to Nancy Lazar, chief global economist at Piper Sandler.