How much sway will new Fed Chair Kevin Warsh have over interest rates?
Source: Politics - CBSNews.com · Bias: Center
Summary
Fed chairs usually have a great deal of influence over the committee that sets interest rates, but their power is not absolute. And experts say Warsh will need to work to form consensus.
How much sway will new Fed Chair Kevin Warsh have over interest rates?
Center
Fed chairs usually have a great deal of influence over the committee that sets interest rates, but their power is not absolute. And experts say Warsh will need to work to form consensus.
Federal officials described President Donald Trump's July 4 celebration as "safe" and "well-prepared" just hours after a record heat wave forced organizers to shut down the Great American State Fair and paramedics rushed to aid attendees, several of whom were reportedly hospitalized.In a joint statement Friday, Freedom 250, the U.S. Park Police, the National Park Service, the Secret Service and the Federal Emergency Management Agency said they had coordinated to expand cooling resources, water stations and medical support for the "Salute to America" event."We are proud to welcome the public to a safe, well-prepared, and truly memorable celebration of America's 250th birthday," the statement read.The reassurance arrived alongside a quiet concession. Organizers pushed back public entry to the Washington Monument grounds from 1 p.m. to 5 p.m. "to reduce prolonged exposure to heat," cutting four hours off the window guests can spend on-site.Trump's slot was left untouched, however. The president is still scheduled to deliver remarks at 9:45 p.m., followed by a 10:30 p.m. fireworks display his task force has billed as the largest in history.The statement capped a troubled stretch for the 16-day event. The fair was forced to close for hours Friday as the capital baked under an extreme heat warning, with the heat index projected as high as 113 degrees. One attendee earlier dunked herself in a baptismal pool to escape the heat, and reporters described a largely deserted fairground throughout the week.Washington was forecast to be hotter than 99 percent of the planet on Friday, according to a Washington Post meteorologist.
The couple had an array of celebrity guests, including Gigi Hadid and Bradley Cooper, and Adam Sandler officiated their nuptialsTaylor Swift and Travis Kelce are officially wed. The couple hosted their wedding celebration on Friday in New York City, nearly three years after first meeting.The ceremony was officiated by Adam Sandler, a Swift spokesperson said in a Friday statement confirming the nuptials. Continue reading...
The four presidents carved into Mount Rushmore collectively issued over 1,100 pardons. President Trump, who is visiting there tonight, has outdone them all and is now adding more. Nancy Cordes reports.
Ken Griffin, the billionaire founder of hedge fund Citadel, urged business leaders to resist the socialism of New York City Democratic Mayor Zohran Mamdani, warning that the Big Apple's business environment will otherwise be destroyed.
The post Business Leader Calls on New York City to Resist Mamdani appeared first on The Gateway Pundit.
With LeBron James already conveying his intention to leave the Los Angeles Lakers and Austin Reaves re-signing, Rui Hachimura is now biggest member of the Lakers' 2025-26 roster whose free agency fate remains uncertain.
Major American corporations that benefited from tax cuts enacted last year by President Donald Trump and congressional Republicans are donating to the campaigns of GOP lawmakers who made the windfall possible.A report published Friday by Unrig Our Economy spotlights seven House Republicans who voted for the sprawling and unpopular GOP budget package, which extended tax breaks for corporations and wealthy Americans while inflicting unprecedented cuts on Medicaid and federal nutrition assistance—with disastrous consequences for millions of low-income families across the country.Rep. Mariannette Miller-Meeks (R-Iowa), one of the lawmakers featured in the new report, has received campaign donations from corporate PACs representing 3M, Amazon, Walmart, AT&T, and other companies that collectively received billions of dollars in tax breaks from the Republican law, which restored a provision allowing businesses to immediately write off new investments.Amazon saw its US income taxes fall by more than half last year due to the GOP law, even as the company’s profits grew. Unrig Our Economy noted that Amazon, whose PAC donated thousands to the Republicans spotlighted in the new report, has an effective federal tax rate of 1.37% following enactment of the budget law.Miller-Meeks, who has received at least $57,000 in donations from the PACs of companies that benefited from the 2025 law, issued a statement Thursday bragging about supporting “the largest tax cuts in American history,” not mentioning that the benefits will disproportionately flow to profitable corporations and the richest people in the country.“Thanks to the Republican tax law, corporations are receiving tax breaks, House Republicans are getting campaign cash, and working families are getting stuck with the bill,” the report states.Another Republican lawmaker featured in the report, Rob Bresnahan of Pennsylvania, received $2,500 in campaign donations from the PAC of FirstEnergy, which reaped $500 million in depreciation deductions thanks to the GOP tax law.“Bresnahan voted to give FirstEnergy hundreds of millions in tax breaks even after the company raised utility prices for his constituents,” Unrig Our Economy’s report observes.The report also points out that Bresnahan “owned stock in every single one” of the companies who contributed PAC money to his campaign following passage of the Republican budget package last summer.“This comes after Bresnahan has already faced scrutiny for dumping stock in Medicaid providers and selling off bonds in Pennsylvania hospitals before voting to slash Medicaid and put rural hospitals at risk,” the report notes.Leor Tal, Unrig Our Economy’s campaign director, said in a statement that “one year ago, House Republicans ripped away healthcare and food assistance from millions of Americans, so that corporations could get massive tax breaks.”“Now, many of those companies are dishing out PAC money to the Republicans listed in this report,” said Tal. “Republicans in Congress sold out many of their own constituents to help corporations get even richer. It’s time that House Republicans step up, do the right thing, and start fighting for working Americans—not giant corporations.”
