Trump Will Nominate Economic Adviser Stephen Miran to Fed Vacancy
Trump tapped Miran in December to lead the CEA, and he was confirmed by the Senate to his current post in March.
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Terry Cole, chosen to take over DC's police force, has spent 22 years at DEA
WASHINGTON (AP) — Attorney General Pam Bondi on Thursday named the head of the Drug Enforcement Administration, Terry Cole, as Washington's 'emergency police commissioner' as she carries out President Donald Trump's unprecedented decision to take over the Washington police department. Bondi said she's giving Cole the powers of police chief and the Metropolitan Police Department must receive Cole's approval before issuing any orders. The move comes less than a month after the U.S. Senate conformed Cole to be the DEA's leader and he was sworn in as head of the agency. Here's what to know about Cole: Three decades in law enforcement Cole was most recently Virginia's secretary of public safety and homeland security under Gov. Glenn Youngkin, according to his biography on the DEA's website. He's spent more than 31 years as a law enforcement officer, including 22 at the DEA. At the agency, he worked in Oklahoma, New York and Washington. He spent time overseas in Colombia, Afghanistan and the Middle East. The agency said he fought drug cartels and transnational criminal organizations. He was the DEA's acting regional director of Mexico, Canada and Central America when he retired from the federal government in 2020. Prior to joining the DEA, he was a police officer in New York State. Bachelor's in criminal justice Cole graduated from the Rochester Institute of Technology with a bachelor's degree in criminal justice. He has certificates in leadership from the University of Virginia and the University of Notre Dame Mendoza School of Business. Late-night announcement of a new job Bondi announced Cole's new role in a directive Thursday evening. It said Cole would assume 'powers and duties vested in the District of Columbia Chief of Police.' It wasn't immediately clear how this affected Pamela Smith, the city's current police chief, who works for the mayor. Hours earlier, Smith had directed Washington police to share information with immigration agencies regarding people not in custody — such as someone involved in a traffic stop or checkpoint. But the Justice Department said Bondi disagreed with the police chief's directive because it allowed for continued enforcement of 'sanctuary policies.' Bondi said she was rescinding that order as well as other department policies limiting inquires into immigration status and preventing arrests based solely on federal immigration warrants. All new directives must now receive approval from Cole, the attorney general said.
Yahoo
23 minutes ago
- Yahoo
Asia markets stumble as hot PPI print reins in Fed rate cut hype
By Gregor Stuart Hunter SINGAPORE (Reuters) -Stocks in Asia made an uneven recovery as higher-than-expected producer price inflation dampened expectations of a jumbo rate cut at the Federal Reserve's September meeting, while U.S. bonds and equity futures stabilised. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3% after a report on Thursday from the Bureau of Labor Statistics which showed the Producer Price Index increased 0.9% in July on a month-over-month basis, well above economists' expectations. "What it did was to get rid of all the chat about a 50 basis point cut," said Mike Houlahan, director at Electus Financial Ltd in Auckland. The market is currently pricing in a 92.1% probability of a 25 basis point rate cut at its September meeting, compared with a 100% likelihood of a cut on Thursday, according to the CME Group's FedWatch tool. The chance of a jumbo 50 basis point cut fell to 0% from an earlier expectation of 5.7% a day ago. U.S. stock futures were flat in early Asian trading after ending a choppy trading session on Wall Street with mild gains on Thursday. The yield on the U.S. 10-year Treasury bond was down 1 basis point at 4.2829%. The two-year yield, which is sensitive to traders' expectations of Fed fund rates, slipped to 3.7304% compared with a U.S. close of 3.739%. Nasdaq futures extended losses into a third consecutive day, sliding 0.1% lower. The dollar index, which tracks the greenback against a basket of currencies of other major trading partners, retraced some gains after the PPI data release, last trading down 0.1% at 98.143. The Nikkei 225 rebounded 0.4% after snapping a six-day winning streak on Thursday with its biggest one-day selloff since April 11, as Japanese GDP data showed the economy expanding by an annualised 1.0% in the April-June quarter, beating analyst estimates. The dollar weakened 0.3% against the yen to 147.64. Australian shares were last up 0.2%, while stocks in Hong Kong were down 0.9% following losses on Thursday for U.S.-listed exchange-traded funds tracking Chinese companies. The CSI 300 gave up early gains and was last trading flat after the release of weaker-than-expected Chinese economic data for July including retail sales and industrial in India and South Korea are closed for public holidays. Cryptocurrency markets stabilised after a new record for bitcoin of $124,480.82 on Thursday proved fragile and promptly crumbled after falling short of its next key milestone. The digital currency was last up 0.7%, recovering some ground, while ether gained 1.7%. "Bitcoin's failure to conquer the $125,000 resistance signals another consolidation phase," said Tony Sycamore, a market analyst at IG in Sydney. In commodities markets, Brent crude was flat at $66.94 per barrel ahead of a meeting in Alaska between U.S. President Donald Trump and Russian leader Vladimir Putin. Gold was slightly lower as the markets digested the path of inflation-adjusted interest rates, which typically move in the opposite direction from bullion prices. Spot gold was trading up 0.1% at $3,339 per ounce. [GOL/] In early European trades, the pan-region futures were up 0.4%, German DAX futures were up 0.3% at 24,489, and FTSE futures were up 0.5%.
Yahoo
23 minutes ago
- Yahoo
The Barns at Nappanee sells at auction
NAPPANEE — The former Amish Acres property, later known as The Barns at Nappanee, has been sold. An auction for the property, which includes 10 buildings across 54,000 square feet of space on the west edge of Nappanee, ended at 6 p.m. Wednesday, with the winning bid being $2,547,300. The auction firm of Kraft Auction Service, Valparaiso, was the coordinator of the auction, and the news of the sale broke late Wednesday night. According to Jonathan Kraft, the auction conclusion came down to a 'bidding war that saw 43 bids placed on the property.' 'More details about the new owner will be released by the new owner shortly, and what the future looks like for the property,' Kraft said. 'But I can say the buyer is going to re-open the property and build on the successful history of the property.' The historical aspect of the property can be attributed to the longtime legacy of Amish Acres, the original enterprise, which was founded in 1968 by the Richard Pletcher family. Upon Pletcher's retirement, the complex was purchased at auction in 2020 by Indiana 3rd District Congressman Marlin Stutzman and his wife, Christy. They renamed the business The Barns at Nappanee and launched a steakhouse in the former restaurant building until earlier this year, following Stutzman's election to Congress. The property has been primarily vacant since Stutzman's departure, until interest was renewed in the popular tourist destination with the announcement of the auction several weeks ago. Solve the daily Crossword
