Senate Intelligence Committee Chairman Tom Cotton said Jay Clayton’s confirmation hearing for director of national intelligence will proceed unless Trump withdraws the nomination or directs Clayton not to appear. Trump said he wants action on a voting bill and a U.S. attorney nominee before moving forward.
Posts tagged as “Federal Reserve Bank of New York”
Kevin Warsh chairs his first Federal Reserve rate meeting as inflation rises and energy prices remain elevated after the U.S.-Iran conflict. Investors will watch the policy statement, news conference and dot plot for signs of the new chairman’s approach.
California Gov. Gavin Newsom said President Donald Trump directed the Justice Department to investigate him and his wife, calling the inquiry politically motivated. Newsom said federal agents have contacted family friends and former employees and demanded records.
U.S. consumer prices rose 4.2% in May from a year earlier, the fastest increase since April 2023. Energy costs, especially gasoline, drove much of the rise as conflict disrupted oil shipping through the Strait of Hormuz.
U.S. inflation rose to 4.2% in May, the highest level in three years, as energy costs tied to the Iran war continued to climb. Core inflation increased 2.9%, while wage growth lagged behind the broader rise in prices.
Trump said Bill Pulte will become acting director of national intelligence on June 19 while remaining head of the Federal Housing Finance Agency. The decision has sparked bipartisan concern and threatened renewal of Section 702, a surveillance authority set to expire Friday.
A push to renew Section 702 of the Foreign Intelligence Surveillance Act has stalled after President Trump named Bill Pulte acting director of national intelligence. Democrats and some Republicans say Pulte lacks the qualifications for the role and are pressing for a permanent nominee.
A new Science study by a Federal Reserve Bank of New York economist finds remote work is linked to more isolation, poorer mental well-being and greater use of mental health services. The effects were especially pronounced among remote workers who live alone.