Congress

Fed’s Powell says Trump can’t fire him; `Not permitted under the law’

Published

2 years ago

November 11, 2024

Federal Reserve Chair Jerome Powell had a simple response Thursday as to whether he would leave his post if President-elect Donald Trump asked him to.

“No.”

Powell, speaking to reporters after Fed policymakers cut interest rates again, tried during his press conference to avoid the political fray. Still, he made clear that he’s not going anywhere. He declared that it’s “not permitted under the law” for presidents to remove members of the independent central bank.

Despite years of criticism of the Fed chief, the once and future president said over the summer that he would let Powell finish out his term, which doesn’t end until mid-2026 — “especially if I thought he was doing the right thing.” But close advisers to Trump — who once questioned whether Powell was a “bigger enemy” to the U.S. than China’s Xi Jinping — have suggested the Fed chief should simply resign.

Trump, who says he believes the president should have a say in monetary policy, has made no secret of his preference for low interest rates and will likely resume his previous habit of tweeting barbs at the Fed chief if he thinks borrowing costs are too high. He explored the question of whether he could fire Powell during his first term, a prospect that added to market turmoil at the time.

The Fed lowered rates again on Thursday, as expected, but the timing for future cuts is less clear — in part because Trump’s policies could alter the economy’s trajectory. Bond investors pushed up yields on Wednesday as they weighed the possibility that higher tariffs and fewer immigrant workers could stoke inflation.

Powell told reporters that Fed officials always take policies — both from the executive branch and Congress — into account if they affect the economy, but “we don’t know what the timing and substance of any policy changes will be,” he said. “We therefore don’t know what the effects on the economy would be.”

Congress

House will vote Thursday on expected-to-fail surveillance patch

Published

2 hours ago

June 10, 2026

Blue Light Newsroom

The House will vote Thursday on a three-week extension of a key surveillance program a day ahead of its expiration, Speaker Mike Johnson said Wednesday.

But leaders of both parties expect the measure to fail, risking a first-ever lapse of Section 702 of the Foreign Intelligence Surveillance Act as the House prepares to leave for recess until June 23.

The extension through July 2 is set to be debated Wednesday night under suspension of the rules, a fast-track House procedure that requires a two-thirds majority to pass.

But the vast majority of Democrats, including House Minority Leader Hakeem Jeffries, say they will not support a punt so long as President Donald Trump stands by plans to appoint a close political ally with no national security experience as his acting director of national intelligence. There is also a small but stubborn group of GOP holdouts who would oppose any attempt to pass an extension under regular order procedures.

“I certainly hope that everyone will do the right thing, put politics aside, for a short-term extension,” Johnson said Wednesday. “We’re not asking for anything heroic here.”

Johnson’s announcement of the Thursday morning vote capped a confusing back-and-forth between the two chambers Wednesday. Less than an hour before, he had said in an interview that “the ball’s in the Senate’s court.”

Senate Majority Leader John Thune, in turn, said in an interview he expected the House would need to move first on a short-term extension.

“We’ll see kind of again what they can come up with over there,” Thune said.

But by Wednesday evening it was clear that regardless of which chamber voted first, the necessary bipartisan coalition to pass an extension simply did not exist.

Senate Democrats quickly poured cold water on the proposed three-week extension, citing Trump’s decision to double down Wednesday on plans to install housing official Bill Pulte as acting DNI.

Sen. Mark Warner (D-Va.), who helped negotiate a three-year extension that has been thrown into limbo, said Trump should name Aaron Lukas, the Senate-confirmed deputy director of the office, the acting director instead of Pulte to ease the path for a short-term patch.

“If he is the acting director during this short-term extension, that’s within the law, and I could be supportive,” Warner said of Lukas.

Should the House leave for its recess after voting Thursday as planned, the Section 702 spy program allowing for warrantless surveillance of foreign sources would lapse for at least a week as World Cup games begin in multiple U.S. cities and the nationwide America 250 celebration approaches. The White House has been prepping an executive order that may cover some aspects of the intelligence data collection in the meantime, according to senior Republicans.

Congress

Introducing Rep. James Gallagher

Published

4 hours ago

June 10, 2026

Blue Light Newsroom

Speaker Mike Johnson swore in Rep. James Gallagher (R-Calif.) Wednesday as the 431st member of the House, succeeding the late Rep. Doug LaMalfa, a Republican who died in January.

Gallagher brings the partisan balance of the chamber to 219-212, meaning Republicans can afford as many as three defections on party-line votes where all members are participating. But one GOP member, Rep. Tom Kean Jr. of New Jersey, has been absent since March and the exact date of his return is unclear.

Democrats are expected to pick up two additional seats in special elections before September. Special elections have yet to be scheduled to fill two other vacancies in GOP-leaning districts that are unlikely to be filled this Congress.

Congress

Bill Gates tells lawmakers he was ‘never interested’ in being Epstein’s friend

Published

8 hours ago

June 10, 2026

Blue Light Newsroom

Tech mogul Bill Gates told the House Oversight and Government Reform Committee he had no knowledge of Jeffrey Epstein’s crimes, despite their years-long relationship after Epstein’s 2008 sex crime conviction.

The prominent philanthropist and founder of Microsoft, who is sitting for a transcribed interview Wednesday as part of the panel’s ongoing Epstein investigation, also maintained that he was “never interested” in having a personal friendship with Epstein and that he did not reciprocate advances to that end, according to a copy of his opening statement published on his website.

“I never witnessed nor had any indication that Epstein was engaged in ongoing criminal conduct,” Gates told lawmakers, according to the prepared remarks. “I never went to his island, his ranch, or his Florida home. I have never victimized anyone.”

While Gates has not been accused of any wrongdoing, he is featured prominently in photos released by Epstein’s state and emails made public by the Justice Department — and he is one of several powerful men who have come under scrutiny for his sustained ties with the late, convicted sex offender.

Gates said he was introduced to Epstein in 2011, when the financier “claimed he could raise billions of dollars for global health from people for whom he provided tax and estate services.”

Although he knew Epstein had legal troubles, Gates said conceded he accepted an introduction “without applying the scrutiny I should have.”

Gates said he cut off ties with Epstein in 2014 when it became clear the donors Epstein promised to deliver would not be making contributions to Gates’ philanthropic work: “I should never have met with Epstein in the first place. Based on what I know now, I understand that even if he had delivered the new donors he promised, it would not have justified associating with him.”

But Gates also said Epstein learned “sensitive information about my personal life, including the fact that I had been unfaithful in my marriage,” and used it “to pressure me to re-engage with him. He was unsuccessful in this effort, but it shows some of the ways he tried to leverage his interactions with me to further his agenda.”