Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump set a hard deadline of Wednesday, August 26, for Federal Reserve Governor Lisa Cook to explain herself or lose her seat on the most powerful economic board in the country. Cook used the day not to plead but to plant her feet. Her attorney delivered a blistering rebuttal to the White House…
President Donald Trump’s fight to remove Lisa Cook from the Federal Reserve is back on, six weeks after the Supreme Court told him he could not simply throw her out. In late June the justices temporarily blocked Trump’s first attempt to fire the Fed governor, stressing that the central bank should stay free of political…
Karoline Leavitt, the fast-talking conservative who turned the White House briefing room into a nightly brawl with the national press corps, is walking away from the most visible communications job in American politics. President Donald Trump announced on Wednesday that Leavitt will leave her post as White House press secretary at the end of August,…
Todd Blanche survived the kind of Senate vote that turns every empty chair and every party defection into a crisis. Two Republicans joined every Democrat and independent who voted against him, but President Donald Trump’s attorney general nominee still crossed the line, 50-49. The result gives Trump a Senate-confirmed leader at the Justice Department after…
Pentagon chief Pete Hegseth is turning his official travel into a rolling showcase of billionaire-built rocket factories, visiting the power centers of Jeff Bezos and Elon Musk just as their companies lock in some of the fattest defense contracts in modern military space. The tours highlight how national security is being rewired around a handful…
Kevin Warsh is not yet running the Federal Reserve, but markets are already trading on the possibility that he could quietly reset how money works across the globe. President Trump’s decision to nominate the former central banker to replace Fed Chair Jerome Powell signals a potential break with the past decade and a half of…
President Donald Trump’s team is reshaping the federal bureaucracy that has been most focused on China’s technological rise, pushing out officials who built some of Washington’s toughest safeguards against Beijing-linked hardware and data flows. The removals are landing just as the administration signals a broader shift away from treating China as the central national security…
President Donald Trump is escalating a personal and political clash with Jamie Dimon, accusing the JPMorgan Chase chief of lying about a supposed offer to lead the Federal Reserve and declaring him unfit to run the central bank. The dispute, which began with a report that Trump had courted Dimon for the Fed chair, has…
The Trump team has walked away from a controversial plan to fold the Bureau of Alcohol, Tobacco, Firearms and Explosives into the Drug Enforcement Administration after an unusually unified backlash from both gun control advocates and gun rights groups. The reversal halts an internal Justice Department effort that would have redrawn the map of federal…
President Donald Trump is moving quickly to reshape the Federal Reserve, telling allies he intends to name a replacement for Fed Chair Jerome Powell in January and signaling that the search has narrowed to a small circle of contenders. The timing raises the stakes for financial markets already trying to gauge the path of interest…
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