Trump is likely to allow Fed chair to serve remainder of his term, adviser says
CNN
President-elect Donald Trump is likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump requesting anonymity to describe private conversations.
President-elect Donald Trump remains likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump who requested anonymity to describe private conversations. The adviser cautioned that Trump could always change his mind, but his present view — and that of Trump’s economic team — is that Powell should remain atop the central bank as it pursues its policy of cutting interest rates. Trump in July told Bloomberg he had intended to keep Powell in his role at least for the duration of his term. Trump appointed Powell, a Republican former private equity executive who served on the central bank’s governing board, to its top spot in 2018. President Joe Biden reappointed him to a second four-year term. Gary Cohn, the Goldman Sachs alum who served as economic policy director during Trump’s first administration, is said to want the job, but former Trump officials have said the fact that Cohn resigned in protest over Trump’s steel tariffs makes it highly unlikely he’d get it. Among the names mentioned by sources in touch with the Trump transition are Kevin Warsh, who served for five years on the bank’s board of governors and advised Trump during his first term; as well as Trump’s former chief economist Kevin Hassett.
Speaker Mike Johnson is a political survivor, weathering crisis after crisis since his unlikely ascent two years ago.
Chief Justice John Roberts and Justice Elena Kagan are well matched, rhetorically forceful opposites. And they have been clashing for more than a decade over an increasingly relevant question of presidential power: How easy should it be for the president to fire the heads of independent agencies?
The Army gynecologist described in a recent lawsuit as a “predator in uniform” is now being held in the Bell County Jail in Texas, “after apparently violating conditions of liberty imposed by his commander,” according to an Army spokesperson.
Brian Walshe on Thursday came face-to-face for the first time with the man who had been having an affair with his wife before her death, as he took the stand to testify in Walshe’s murder trial.
The Supreme Court on Thursday allowed Texas to use a congressional map that will boost President Donald Trump’s effort to keep Republicans in control of Congress, blocking a lower court decision that found the new boundaries were likely unconstitutional because they were drawn based on race.
The US military carried out a strike Thursday on a suspected drug boat in the Eastern Pacific, killing four people on board, according to a social media post from US Southern Command.
A grand jury voted against indicting New York Attorney General Letitia James after being asked to look at the mortgage fraud case against her a second time, according to multiple people familiar with the development Thursday.
National Guard troops deployed to Washington, DC, can remain there for now, after a federal appeals court on Thursday temporarily froze a judge’s ruling that would have soon required them to leave the city’s streets.
Defense Secretary Pete Hegseth’s bad week just got worse. That’s after the long-awaited release Thursday of an inspector general’s report on his sharing of highly sensitive military attack plans on the unclassified app Signal earlier this year.
President Donald Trump has hired a new architect for the White House ballroom amid disputes between the president and his architect originally contracted to complete the project, several sources have told CNN.
Defense Secretary Pete Hegseth risked compromising sensitive military information that could have endangered US troops through his use of Signal to discuss attack plans, a Pentagon watchdog said in an unclassified report released Thursday. It also details how Hegseth declined to cooperate with the probe.
If nothing else, the controversy over the Trump administration’s second strike on an alleged drug boat in the Caribbean has surfaced a long-overdue debate about its already legally dubious first strikes.
Two top House lawmakers emerged divided along party lines after a private briefing with the military official who oversaw September’s attack on an alleged drug vessel that included a so-called double-tap strike that killed surviving crew members, with a top Democrat calling video of the incident that was shared as part of the briefing “one of the most troubling things” he has seen as a lawmaker.