News
Bessent advises Trump against firing Fed Chair Powell
Bessent advises Trump against firing Powell, citing economic stability and potential legal hurdles amidst rising tensions over Fed policies
Bessent advises Trump against firing Powell, citing economic stability and potential legal hurdles amidst rising tensions over Fed policies
– Treasury Secretary Bessent advised Trump not to remove Fed Chair Powell due to economic stability and potential interest rate cuts.
– Bessent warned of disruptions and legal issues if Trump attempts to fire Powell, stressing the importance of Fed independence.
Reports of Trump’s consideration to fire Powell have surfaced again, amidst his repeated criticism of the Fed. Some financial experts believe this could undermine the central bank’s independence.
Future Impact
Bessent also highlighted that even without a court challenge, Trump’s attempt to remove Powell could create a leadership vacuum if the Senate doesn’t confirm a replacement quickly.
Current law allows the Fed’s vice chair to step in, but there may be complications if the president’s actions frustrate GOP senators.
Bessent suggested that Trump already has opportunities to influence the Fed, noting upcoming vacancies that can be filled early next year. The White House has indicated that Trump will select a candidate to enhance the Fed’s effectiveness.
News
Ukraine Russia peace talks stall with no breakthrough
Zelenskiy blames Moscow for stalling Geneva peace talks; negotiations to resume amid unresolved eastern territory and nuclear power plant disputes.
Zelenskiy blames Moscow for stalling Geneva peace talks; negotiations to resume amid unresolved eastern territory and nuclear power plant disputes.
Two days of high-stakes negotiations in Geneva have ended without a breakthrough, as Ukraine and Russia failed to reach an agreement on key issues in the ongoing war. Despite international pressure, both sides walked away without a deal.
President Volodymyr Zelenskiy accused Moscow of deliberately stalling United States-mediated peace efforts, while Russia signalled it would not accept terms it sees as unfavourable. The White House says further talks are expected.
Major sticking points remain over territory in eastern Ukraine and control of the Zaporizhzhia nuclear power plant, with both sides rejecting proposals that would involve significant territorial concessions.
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Iran on edge as military build up meets domestic unrest
Iran strengthens military and nuclear sites amid US carrier presence, escalating fears of confrontation and internal dissent pressure.
Iran strengthens military and nuclear sites amid US carrier presence, escalating fears of confrontation and internal dissent pressure.
Iran is ramping up military readiness as tensions with the United States intensify, with Tehran fortifying key nuclear sites and reviewing defence strategies amid the deployment of U.S. aircraft carriers in the region. Leaders in the Islamic Republic say they are prepared to respond to any imposed conflict, signalling a high-stakes standoff that could reshape regional security dynamics.
At the same time, the regime faces mounting domestic discontent, with security forces cracking down on dissent and carrying out widespread arrests following recent protests. While Iran insists it has made concessions toward a nuclear deal, Washington says key demands remain unmet, leaving negotiations in limbo and the country’s political future under strain.
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News
Jesse Jackson dies at 84 civil rights leader and presidential candidate
Civil rights leader Jesse Jackson, 84, dies, leaving a legacy in equality advocacy and global diplomacy.
Civil rights leader Jesse Jackson, 84, dies, leaving a legacy in equality advocacy and global diplomacy.
Civil rights icon Jesse Jackson has passed away at the age of 84. Known as a servant leader, he dedicated his life to giving a voice to the oppressed and advocating for equality worldwide.
Jackson founded Operation PUSH and the National Rainbow Coalition, and served as a special envoy to Africa under President Bill Clinton, leaving a lasting impact on global diplomacy and social justice.
He also ran for the Democratic presidential nomination in 1984 and 1988, played a key role in US politics, and helped secure the release of hostages abroad, remaining a tireless advocate until his passing.
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