Trump is set to swear in Kevin Warsh as the new chair of the Federal Reserve as he struggles to shrug off mounting concerns over affordability.
Warsh is replacing Jerome Powell, who Trump has vehemently attacked for his refusal to cut interest rates. Powell has repeatedly warned over inflationary risks, and broader economic uncertainty, since Trump’s return to office.
Warsh will confront a darkening economic outlook, with inflation hitting a three-year high of 3.8% in April.
Trump advised Warsh to be totally independent as the fed chair.
“I want him to be independent and just do a great job,” said Trump. “Don’t look at me, don’t look at anybody, just do your own thing and do a great job.”
Trump also gave a shot out to the acting attorney general, even without being able to spot him in the audience.
He’s pretty busy. He’s kept very busy. I’ll just say he’s doing a very good job working together, right? He’s doing a great job, actually.
“I expect you will go down as one of the best chairs the Fed has ever had,” said Trump at the swearing in ceremony at the White House.
He also gave shout outs to other senior government officials, including Brett Kavanaugh, Scott Bessent, Brooke Rollins, Sean Duffy, John Ratcliffe and Keith Sonderling among others.
Trump is set to swear in Kevin Warsh as the new chair of the Federal Reserve as he struggles to shrug off mounting concerns over affordability.
Warsh is replacing Jerome Powell, who Trump has vehemently attacked for his refusal to cut interest rates. Powell has repeatedly warned over inflationary risks, and broader economic uncertainty, since Trump’s return to office.
Warsh will confront a darkening economic outlook, with inflation hitting a three-year high of 3.8% in April.
New polling shows rising frustration with Trump’s agenda days after president said “I don’t think about Americans’ financial situation” amid Iran peace talks.
Two-thirds of Americans believe Trump is prioritizing his controversial immigration crackdown at the expense of their economic wellbeing, according to a new poll, in a stark warning for the US president about the unpopularity of his agenda.
Amid growing discontent about the economic costs of his decision to go to war with Iran, 68% of respondents said Trump’s administration is too focused on mass deportations and not enough on affordability issues.
The poll, from Morris Predictive Insights, illustrates the strength of the political backlash facing Trump following criticism of his admission that financial pressures on Americans from the Iran war “not even a little bit” driving him to reach a peace deal with Iran’s Islamic regime.
Evidence that the Morris survey was no outlier was provided by a separate poll from Gallup, which showed confidence in the economy at a four-year low.
A previously undetected outbreak of Ebola is coursing through parts of central Africa, and the US appears to be doing little to help stop it, after massive cuts to global and domestic public health efforts.
There is no cure and no vaccine for the rare Bundibugyo variant of Ebola, which has caused two outbreaks in recent decades. Health leaders and scientists are now racing to understand where the virus is spreading and attempting to stop it – but the US is notably absent in these efforts.
In the past year, the US Agency for International Development has been dismantled, thousands of staff at US health agencies were laid off, communications stalled and key scientific research canceled.
There are 482 suspected cases and about 116 deaths reported since April in the Democratic Republic of the Congo, with two cases and one death in Uganda and potential spread to neighboring South Sudan. The outbreak “might have been going on for a few months”, said Kristian Andersen, a professor of immunology and microbiology at Scripps Research.
The outbreak was immediately declared a public health emergency of international concern by Tedros Adhanom Ghebreyesus, the director general of the World Health Organization, before even convening the committee that usually makes that determination. Officials say it may last for months.
Donald Trump is expected to swear in Kevin Warsh as the chair of the Federal Reserve around 11:30 am Friday morning.
We’ll keep you up to date with the swearing-in ceremony.
Dan Caine, the chairman of the joint chiefs of staff, delivers the commencement address at the US Naval Academy Friday morning.
“It is an incredible honor for me to stand with you guys today. I bring greetings from the President and from the Secretary of War, who both extend their heartfelt congratulations,” he said. “In fact, they’re in the Oval right now, and I know that they’re talking about each and every one of you.”
Ahead of Trump swearing in Kevin Warsh as the chair of the Federal Reserve, Senator Elizabeth Warren issued a statement about Warsh’s appointment:
Kevin Warsh starts his tenure with his credibility in tatters. Having proven himself to be Donald Trump’s sock puppet, I worry Mr Warsh will prioritize the President’s political interests over the economic well-being of American families.
Warren added that as Warsh begins to lead the institution, “every decision he makes will be tainted because of his refusal to answer who cut him a $100 million check for his secret investments – and what they may want from him as the new Fed Chair.”
Trump also posted about Senator Thom Tillis, who has been openly criticizing Trump’s slush fund this week:
People don’t remember that Thom Tillis, the weak and ineffective Senator from the Great State of North Carolina, a State I won, including primaries, 6 consecutive times, didn’t have the courage to fight it out in the Senate, remain in place, and run again for office, a thing he desperately wanted to do. I called him a “Nitpicker,” always fighting against the Republican Party, and ME, mostly on things that didn’t matter. When I told him that I would not, under any circumstances, endorse him for another run, too much work and drama (he couldn’t have won, anyway!), he immediately quit the race and publicly announced that he was going to “retire.”
Tillis is not alone in raising concerns about the fund. On Thursday the US Senate refused to push through ICE funding amid row over a $1bn proposal for security measures tied to Trump’s White House ballroom and controversial plans to create the $1.8bn fund.
Continuing on Tillis, Trump wrote: “The media said how brave he was to take me on, but he wasn’t brave, he was just the opposite – HE WAS A QUITTER! Now he can have all the fun he wants for a few months, with some of his RINO friends, screwing the Republican Party. In the end it will only get bigger, and better, and stronger, than ever before!!!”
Amid almost a week of reactions from Democrats and Republicans to Trump’s Anti-Weaponization Fund, Trump has posted about it on Truth Social Friday morning:
I gave up a lot of money in allowing the just announced Anti-Weaponization Fund to go forward. I could have settled my case, including the illegal release of my Tax Returns and the equally illegal BREAK IN of Mar-a-Lago, for an absolute fortune. Instead, I am helping others, who were so badly abused by an evil, corrupt, and weaponized Biden Administration, receive, at long last, JUSTICE!
Earlier Trump wrote: “Stop playing games and PASS THE SAVE AMERICA ACT!”
On Ukraine, Rubio says the peace talks with Russia and Ukraine were so far “not fruitful, unfortunately”, but the US “stands ready to continue to play that role”.
“If we see an opportunity to pull together talks that are productive, not counterproductive, and that have the chance to be fruitful, we’re prepared to play that role.”
He says the war “will not end with a military victory by one side or the other,” how traditional victories were defined, and he hopes that a solution can be found one day.
Rubio also says there was a separate meeting of the seven Arctic nations on the sidelines of today’s meeting, although it did not cover Greenland.
He says there will be a joint statement coming soon.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: theguardian.com
