It’s Tuesday.🙋🏼♀️I’m Nicole Forelt. Take time to Zen and see the aurora.
Here’s the news for Tuesday:
What’s going on with the Fed?
The Senate voted in favor of President Donald Trump’s choice to join the Federal President’s Committee in time for the September rate-decision meeting, which begins Tuesday.
Why is this important: Trump is currently one step closer to a majority of the seven-member Federal Reserve Committee setting the country’s economic policy.
- There are concerns about the Fed’s independence. The Senate confirmed that White House Economic Advisors Council Chairman Stephen Milan voted in favor with a 48-47 vote. Milan’s nomination spurred questions from lawmakers and was concerned that it would succumb to Trump’s demands for a more aggressive interest rate cut.
- But Trump also had one Fed loss. The appeals court on Monday said Lisa Cook could remain on the Federal Reserve for now as she fights Trump’s unprecedented attempt to remove her from the central bank. Cook argues Trump’s allegations are an excuse to fire her for her financial policy stance.
- Why is the Fed expected to cut fees now? Although inflation exceeds the Fed’s 2% target, if the labor market is weak, reducing interest rates will reduce borrowing costs for businesses and consumers.
Check the tock on Tiktok
Time is ticking for popular short video platform Tiktok, which is facing yet another ban deadline on Wednesday. A transaction may take place. On Monday, Trump posted to the True Society, saying that he “we’ve reached a deal on a “specific” company that our country’s youth wanted to save.” At a trade conference with Chinese authorities in Madrid, Spain, authorities said on a Reuters-by-Reuters a framework agreement has been reached to transfer the app to US ownership. Trump said he would talk to Chinese President Xi Jinping on Friday as details of the deal remain under the wrap.
More news you need to know now
- Avian flu was reported in Nebraska.
- This is what La Niña is meant for our weather.
- Southwest Airlines has announced new restrictions on wheelchair users.
- Why was the peace vigil tent near the White House removed?
What’s the weather today? Check out your local forecast here.
FBI Heads face criticism from all sides
FBI director Kash Patel testifies to Congress on the Bureau’s actions following the fatal shooting of conservative activist Charlie Kirk at the University of Utah on Tuesday and Wednesday. In criticism, On the night of Kirk’s murder, Patel continued to book dinner at a New York restaurant in New York, sharing unconfirmed social media information about the suspect’s arrest, taking too long to release photos of the suspect, ensuring that there was better security at the crime scene in Utah and issued a public statement about the incident. And now Patel is being scrutinized for what he has publicly said about the investigation.
- Prosecutors will announce formal charges against the suspect in Kirk’s murder this week, providing the most detailed accounting of what still happened.
- What should you make in honor of Kirk at a sporting event?
- JD Vance choked on a podcast about Kirk.
Things you need to know about the strike against suspicious Venezuelan drug traffickers
President Trump has said he has taken his second strike on what the US military described as a “violent drug trafficking cartel” from Venezuela, killing three people in international waters in an ongoing campaign that raised bipartisan concerns about the due process. Republican and Democrats questioned the tactics after previous strikes over the drug ship allegations.
- “What a sleazy and thoughtless feeling to praise someone for killing without trial,” Sen. Rand Paul wrote online after Vice President J.D. Vance promoted his previous strike.
Today’s speaker
American farmers warn that this year is particularly tragic
“I’m particularly concerned about people who may not have the fairness to resort to to ride another unprofitable year. We don’t want to lose another generation of farmers, as we did in the ’80s.
~Brian Duncan, an Illinois farmer and president of the Illinois Agricultural Bureau. Duncan and other farmers said USA Today is hitting their industry particularly hard this year. The farmer’s struggle could have ripple effects on the wider economy as spending is reduced.
Today’s photo: Welcome to Windsor?
Trump arrives in the UK on Tuesday for an unprecedented second state visit. The next day he will be treated to the customary displays of the Royal Pageantry at Windsor Castle, including carriage tours and lavish banquets. The visit comes amidst the revelation of his close relationship with former British ambassador Peter Mandelson and the late investor Jeffrey Epstein.
Nicole Fallert is a newsletter writer for USA Today and sign up for your email here. Want to send a note to Nicole? Please email her at nollert@usatoday.com.
