Trump Raises Pressure, Calls For Federal Reserve Governor To Resign
"Cook must resign, now!!!" Trump wrote on his Truth Social platform, while sharing a Bloomberg news report on how the Federal Housing Finance Agency's director has called for greater scrutiny of Cook over a pair of mortgages.
FHFA director Bill Pulte -- a staunch ally of Trump's -- had reportedly written a letter to the US Attorney General calling for an investigation of Cook while suggesting that she might have committed a criminal offense.
It was not immediately clear if such a probe will take place.
The Trump administration has pursued allegations of mortgage fraud against high-profile Democrats who are seen as political adversaries of the president.
The US leader's targeting of Cook, who sits on the central bank's rate-setting committee, comes after his repeated broadsides against Powell while the Fed kept the benchmark lending rate unchanged this year.
Cook took office as a Fed governor in May 2022 and was reappointed to the board in September 2023. She was sworn in later that same month for a term ending in 2038.
Cook has previously served on the Council of Economic Advisers under former president Barack Obama.
In recent months, Trump has called Powell a "numbskull" and "moron" as the central bank held rates steady to monitor the effects of US tariffs on inflation.
Trump had also previously suggested that what he said is an overly costly renovation of the Fed's headquarters could be a reason to oust Powell, before backing off the threat.
Powell's term as Federal chair ends in May 2026.
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Hindustan Times
10 minutes ago
- Hindustan Times
Trump's ‘Law and Order' Push in D.C. Looks a Lot Like an Immigration Raid
WASHINGTON—In the neighborhood of Mount Pleasant, which has a large Hispanic population, a local plaza has become the center of a standoff between residents and federal immigration officers deployed under President Trump's security crackdown in the capital. Since the administration's law-enforcement surge in Washington began last week, federal agents have swarmed the surrounding streets. More than a half-dozen Immigration and Customs Enforcement agents in masks and sunglasses were at the plaza this past Friday, posing for a videographer before tearing down an anti-ICE banner. 'We're taking America back, baby,' one of them said, facing the camera as they walked away. A video of them was later posted by the agency. That night there was a new banner that said, 'No Deportations in Mount Pleasant.' Residents scrawled chalk messages on the sidewalk that said, 'Keep ICE out of DC,' and played Latin music. When Trump announced on Aug. 11 that he would deploy hundreds of National Guard members and federalize the local police to 'take back' the capital, he framed the mission as a crackdown on violent crime. He cited cases of children killed by gun violence and the assault of a former DOGE staffer by teenagers. In practice, the most visible impact of Trump's federal takeover has been the immigration-enforcement effort in places including Mount Pleasant. Authorities have pulled delivery drivers off mopeds, arrested construction workers and demanded proof of legal status from vendors selling mangos and watermelons. Vehicle checkpoints have sprung up nightly, and ICE vans have parked outside daycare centers and churches that tend to employ immigrants. A few days after Trump's announcement, Attorney General Pam Bondi directed D.C. police to cooperate with federal immigration enforcement. Of the 465 total arrests from the start of operations in the District of Columbia through Tuesday, roughly 44%, or 206, have been arrests of immigrants in the country illegally, according to a White House official. The official said many of the immigrants arrested had outstanding warrants, ties to gangs or drug convictions. 'If federal law enforcement…come across illegal aliens, of course we are going to abide by this administration's policy of law and order,' White House spokeswoman Karoline Leavitt said. 'They will be detained and deported.' Chalk graffiti in the Mount Pleasant neighborhood of Washington last week. Residents said what they have seen tells a different story. Federal immigration officers, often accompanied by the local police, have appeared to target businesses, daycare centers, churches and community organizations, according to interviews with witnesses and families, as well as videos shared by onlookers and government social-media accounts. Federal officers have been positioned with local police at checkpoints, where they have asked for identification. An ICE spokeswoman said enforcing immigration laws and combating crime were part of the same mission. 'We will support the re-establishment of law and order and public safety in D.C., which includes taking drug dealers, gang members and criminal aliens off city streets,' the spokeswoman said. Federal law allows immigration officers to check vehicles within 100 miles of a U.S. border. In a 1976 decision, the Supreme Court allowed routine questioning at a checkpoint on Interstate 5 near San Clemente, Calif. Scott Michelman, legal director of the ACLU of the District of Columbia, said it would be 'very unusual, if not unprecedented,' to apply that authority to a city like Washington, where the nearest border is with the sea. 'It's ludicrous to think you need a border checkpoint on 14th Street to catch immigrants who swam across the Atlantic,' he said. Authorities have targeted delivery drivers who often cluster on mopeds outside restaurants waiting for orders. During the arrests, the authorities have on several occasions refused onlookers' offers to translate. Members of the National Guard at a Metro station Wednesday in the nation's capital. Nannies and children watched as ICE agents raided a business across from the Mount Pleasant library during story time, according to two parents. Officers have also stood in big groups outside grocery stores, many wearing ski masks or tactical vests that often only say 'police.' At a nearby church, Shrine of the Sacred Heart, an usher was arrested on his way to services, according to a priest. Sometimes agents have made videos of their arrests for social media, publicizing their activities through the official ICE account. In the Capitol Hill neighborhood, a D.C. police car rammed a Grubhub driver off his moped, leaving him sobbing on the ground with an injured arm, according to three witnesses. About two dozen police and ICE agents swarmed the scene, carting away his bike before handcuffing him to a gurney as an ambulance took him away. Allison McManus, a local resident who witnessed the incident, said she asked why ICE was involved in what police described as a registration violation. 'They're just riding along with us on all our operations now,' she said a police officer told her. A spokeswoman for D.C.'s Metropolitan Police Department said the incident was under investigation. In addition to ICE, an alphabet soup of federal agencies has been deployed to neighborhoods across the district, including Customs and Border Protection, the Secret Service, the Federal Bureau of Investigation, the Drug Enforcement Administration, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the U.S. Marshals Service, as well as smaller agencies such as the U.S. Park Police and the State Department's Diplomatic Security Service. Meanwhile, hundreds of National Guard soldiers have been posted in tourist areas including the National Mall and Metro stations to serve as a visible presence, according to Defense Department officials. The troops have so far been unarmed and aren't authorized to make arrests. Officials expect 2,000 guardsmen from six states and D.C. will be deployed in the city. The Trump administration's takeover of D.C., which votes overwhelmingly Democratic, is deeply unpopular within the district. Three top officials—including Vice President JD Vance—were interrupted by demonstrators yelling 'Free DC' during a photo opportunity Wednesday with National Guard troops at Union Station. A call for a 'Free DC' at an overpass near the U.S. Capitol last week. The administration has said the crackdown is working. 'People that haven't gone out to dinner in Washington, D.C., in two years are going out to dinner,' Trump said Monday. Amie Santos, a resident of the Petworth neighborhood and mother of two young children, described an environment of heightened alarm. She said she hears helicopters from the U.S. Park Police flying overhead almost every night. Her 5-year-old son's school has enhanced security measures, and the nanny who cares for her 17-month-old daughter is scared to walk down the street to the park, Santos added. 'We have had discussions about what to do if she is stopped by federal agents,' Santos said. Earlier this week, federal agents parked outside Casa Lala, a bilingual daycare center near Mount Pleasant, and made arrests. 'The staff were terrified. Students were scared. Parents were scared,' Santos said. She said her 5-year-old son 'asked if Donald Trump was going to come into his school.' Write to Vera Bergengruen at Michelle Hackman at and Lara Seligman at Trump's 'Law and Order' Push in D.C. Looks a Lot Like an Immigration Raid Trump's 'Law and Order' Push in D.C. Looks a Lot Like an Immigration Raid
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First Post
12 minutes ago
- First Post
India pushes back: Why strategic partnership with America cannot be one-sided
The world's oldest and largest democracies — natural partners — are drifting apart, not out of necessity, but because one leader believes he can force the world to follow his tune. India certainly won't White House Trade Advisor Peter Navarro, in a strongly worded article in the Financial Times, accused India of cosying up to Russia and China. He alleged that India is 'acting as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs'. Navarro further warned India: 'If India wants to be treated as a strategic partner of the US, it needs to start acting like one.' He attempted to link India's oil procurement process to funding Russia's war machinery. STORY CONTINUES BELOW THIS AD Navarro accused India of selling refined oil to Europe, Africa, and Asia. The EU has imposed a ban on the import of refined oil, effective January 2026; until then, such trade remains legal in Europe — but not acceptable to Navarro. He also criticised India for imposing high tariffs and trade barriers on US goods. Interestingly, there was no mention of China, which imports far more crude oil. US Secretary of State Marc Rubio partially justified not placing tariffs on China, stating: 'If you were to go after Russian oil sales to China — well, China just refines that oil. That oil is then sold into the global marketplace, and anyone buying that oil would be paying more for it or would need to find alternative sources.' India is following the same process, yet it remains an easier target since China could block the export of critical minerals to the US — as it did in April, responding to Trump's tariffs. Commenting on India-US defence deals and India's relations with Russia and China, Navarro warned that transferring critical technology and opening arms factories in India could risk sharing technology with Russia and China. He ignored the fact that India has never transferred Russian technology to the US despite its close ties with Moscow over the decades. Navarro also implied that the 'Make in India' initiative is not conducive to reducing trade deficits. But why should the India-US relationship be a one-way street? If the US expects India to be a strategic ally, it must act like one. Imposing high tariffs, stalling trade talks, disregarding India's political constraints, and expecting India to bow to White House demands are not the actions of an ally. The Trump administration's approach has strained a partnership carefully nurtured by multiple administrations, reinforcing the perception that the US cannot be fully trusted. STORY CONTINUES BELOW THIS AD Washington expects India to downgrade its ties with Russia and distance itself from China while maintaining its own close ties with Pakistan — India's sworn adversary. The US also expects India to support Pakistan's call for a Nobel Prize for Trump, even though Trump's actions didn't merit one. Why should India comply while the US freely pursues its own interests? The US insists its relationships with India and Pakistan exist 'on their own levels', yet criticises India for adopting the same stance regarding Russia and the US. When Russian President Vladimir Putin personally calls Prime Minister Modi to brief him on the Alaska talks, it underscores the enduring strength of Indo-Russia relations — ties the US cannot break through pressure tactics. If Washington seeks to exploit Pakistan's mineral wealth, indirectly strengthening its military aimed at India, why should India stop importing Russian oil, even if it indirectly funds the war? True allies don't threaten one another; they resolve differences through dialogue and cooperation. If the US believes its power is enough to force India to yield, it is gravely mistaken. STORY CONTINUES BELOW THIS AD The real strategic threat to Washington lies in the strengthening Russia-India-China trilateral and the growing influence of Brics, of which all three are key members. The trilateral, dormant for years, is being revived largely due to US actions. While India might temporarily lose parts of the US market, the US will also lose access to India's massive market. Defence cooperation may continue, but economic and diplomatic ties are headed toward a cooling period. India's ties with Russia are time-tested and resilient. Its neutral stance on the Russo-Ukraine conflict stems from a principled belief: borders should not be altered through military force, as it sets a dangerous precedent that could eventually affect India itself. Meanwhile, the US pushing for concessions from Ukraine to secure a Nobel Prize for Trump exposes how low Washington can stoop to serve political ambitions, disregarding long-term global consequences. Trade negotiations take time. Trump's impatience doesn't change the fact that deals must benefit both nations. For instance, the Indo-UK trade agreement took three years to finalise. Expecting India to comply blindly with US demands, without mutually beneficial alternatives, is unrealistic. While stalled talks may temporarily slow India's progress, the country's economy — primarily domestic-driven — continues to grow. STORY CONTINUES BELOW THIS AD According to Deloitte, the US economy is projected to enter a recession in the fourth quarter of this year and remain there through 2026. Facing US threats, India is already considering trading in local currencies, diversifying its markets, and strengthening its financial infrastructure. Although US tariffs may cause short-term disruption, India's economic fundamentals provide resilience and recovery capacity. The government is already lowering taxes to support domestic growth. India will bide its time. This administration in Washington will eventually change, and future leaders may hold different views. Until then, India will adopt a mature, measured approach: avoiding direct confrontation while reducing interaction. India-US relations may slow, but they will not collapse. The world's oldest and largest democracies — natural partners — are drifting apart, not out of necessity, but because one leader believes he can force the world to follow his tune. India certainly won't. The author is a former Indian Army officer, strategic analyst and columnist. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views. STORY CONTINUES BELOW THIS AD
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First Post
12 minutes ago
- First Post
Taiwan to bump up defence spending to over 3% of GDP as Chinese belligerence continues
Budget documents show the cabinet has allocated US$31.1 billion for defence next year, amounting to 3.32 per cent of GDP, up 22.9 per cent on 2025 Taiwan's government will raise its defence spending to more than three per cent of GDP in 2026, Premier Cho Jung-tai announced on Thursday, marking a significant boost as the island faces mounting pressure from both China and its US ally to step up investment in its own security. Cho said the proposed increase was 'another concrete demonstration to the world and the people of Taiwan of our resolve and ability to safeguard national sovereignty and security.' The new budget must still be approved by the opposition-controlled legislature before taking effect. STORY CONTINUES BELOW THIS AD NATO-style accounting and a 22.9 per cent rise Budget documents show the cabinet has allocated US$31.1 billion for defence next year, amounting to 3.32 per cent of GDP, up 22.9 per cent on 2025. The figure includes NT$135.9 billion in spending on the Coast Guard Administration and military retirement benefits, both of which were excluded from last year's calculation. Cho initially gave a figure of 3.23 per cent during his press conference, but officials later confirmed the correct number was slightly higher. 'Our total defence budget is calculated using Nato's model and standards,' Cho said. More from World 'China is very patient': Trump says Xi Jinping told him Beijing will not invade Taiwan during his presidency Overall government expenditure for 2026 is set at just over NT$3 trillion, an increase of 3.8 percent from 2025. Military analyst Chieh Chung, from the Association of Strategic Foresight, said that if the coast guard and pension spending were removed, the core defence budget would represent 2.84 percent of GDP. 'As for Washington's reaction, I think it will welcome Taiwan's move to increase its defence budget, but it is still far from what they would be satisfied with,' he said. Politics and pressure from Washington President Lai Ching-te has previously pledged to raise defence spending above three percent of GDP, aligning with calls from Washington for allies and partners to do more to bolster their own security. The announcement comes as Taipei seeks to secure a tariff reduction deal with US President Donald Trump's administration. Earlier this month, Trump imposed a temporary 20 percent tariff on Taiwanese goods, part of his broader trade war strategy. Negotiations are continuing. The China-friendly Kuomintang (KMT), which dominates Taiwan's legislature with support from the Taiwan People's Party, cut parts of the 2025 budget and froze certain defence allocations. Chieh said a KMT-backed increase to military personnel benefits was absent from the 2026 plan, which could cause friction during budget debates. Chance Hsu, the KMT's assistant director of international affairs, said the party supports higher defence spending but emphasised that the focus should be on addressing manpower shortages, building asymmetric warfare capabilities and modernising training. STORY CONTINUES BELOW THIS AD Facing a powerful neighbour Taiwan has invested heavily in domestic defence production and weapons upgrades over the past decade, but remains heavily reliant on US arms sales. Despite the progress, the island would still be outgunned in any full-scale conflict with China, which claims Taiwan as part of its territory and has threatened to seize it by force.
