House Republicans block second Democratic Party attempt to release Epstein files
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France 24
an hour ago
- France 24
Trump says not firing Fed chair -- but not ruling out
Trump's mixed messaging, after months of escalating attacks on the independent central bank chief, sent the yield on the 30-year US Treasury bond surging above five percent. Asked about whether he would eject Powell, Trump said he is "doing a lousy job but no, I'm not talking about that." "I don't rule out anything, but I think it's highly unlikely," he added. Trump noted that he would in any case be able to make a change at the top of the Fed when Powell's term ends next year. "We'll pick somebody that's good," Trump said. "We want to see lower interest rates." Powell's term at the helm of the US central bank does not conclude until May 2026, and his term as a Fed governor is up at a later date. The Fed chair has said that he did not plan to step down early, and considers the central bank's independence over monetary policy to be a matter of law. A Supreme Court order recently suggested that Fed officials cannot be taken out of their jobs over policy disagreements, meaning they have to be removed "for cause," which could be interpreted to mean wrongdoing. Fireable offense? The US leader has repeatedly lashed out at Powell for not lowering interest rates more quickly, calling the central banker a "numbskull" and "moron" recently. Late Tuesday, Trump suggested that a $2.5 billion renovation plan at the Fed could be sufficient cause to force Powell out. Asked by a reporter if the spending was a fireable offense, Trump said: "I think it sort of is." The US leader on Wednesday floated the possibility of "fraud" involved with the renovation, but provided no details substantiating the allegation. The president has received political backing from his party for firing the Fed chair, US media reported Wednesday, noting that he told a room of Republican lawmakers that he would do so. A White House official told CNBC: "They expressed approval for firing him. The president indicated he likely will soon." The New York Times reported that Trump showed off a draft letter to oust Powell at his meeting with about a dozen House Republicans late Tuesday, although the president said Wednesday that he only "talked about the concept" of removing Powell instead. Trump added Wednesday that many people want the top job at the Fed, saying: "I think it's one of the easiest jobs in government, you show up once a month and you make a statement about where the economy is going, and we're going to raise or lower interest rates." Financial markets took a hit after reports about Trump's plans, although they recouped some losses after his later remarks. The dollar initially fell by one percent against the euro before regaining ground, while safe haven asset gold logged gains. Wall Street's main indexes stumbled, while the yield on the 30-year US bond surged on market worries. The Dow Jones Industrial Average was flat while the broad-based S&P 500 Index and tech-focused Nasdaq both lost 0.1 percent.
France 24
3 hours ago
- France 24
NASA captures closest-ever images of the Sun
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France 24
4 hours ago
- France 24
British Open could return to Trump's Turnberry
The Scottish course, which was bought by Trump in 2014, has not hosted the only major outside the US since 2012. In the wake of the storming of the US Capitol by Trump supporters in January 2021, the R&A said the British Open would not return to Turnberry until "the focus will be on the championship" rather than the course's proprietor. Mark Darbon, new chief executive of the R&A, straight-batted the prospect of awarding Turnberry the championship until significant upgrades are made around the course on Scotland's west coast. "We love the golf course but we've got some big logistical challenges there," Darbon told a press conference ahead of the 153rd British Open, which begins at Royal Portrush on Thursday. "You see the scale of their setup here and we've got some work to do on the road, rail and accommodation infrastructure around Turnberry. "We've explicitly not taken it out of our pool of venues but we'd need to address those logistical challenges should we return." Darbon revealed he had a meeting earlier in the year with Trump's son, Eric, but said no pressure had been put on by the British government to fast track Turnberry's return to the Open Championship rotation. "We've spoken to them specifically about Turnberry and I think they've made it clear that the decision around where we take our championship rests with us," he added on government involvement. "I met a couple of months ago with Eric Trump and some of the leadership from the Trump golf organisation and from Turnberry. We had a really good discussion. "I think they understand clearly where we're coming from. We talked through some of the challenges that we have so we've got a good dialogue with them." A return to Turnberry is highly unlikely before Trump's second term as president comes to an end in early 2029. The next two British Opens will be held at Birkdale and St. Andrews respectively, with a venue for 2028 to be confirmed early next year. There could also be an addition to the current rota of 10 venues with the possibility the British Open could be played in the Republic of Ireland for the first time at Portmarnock, near Dublin. "Yes, we are thinking about Portmarnock," added Darbon. "We think it's a wonderful links golf course and we've been really encouraged by the support that we've had in principle from the Irish government to work with us to understand whether we could stage an Open Championship there in the future. "We're knee deep in feasibility work to help us answer that question fully. We expect to have a clearer picture by the back end of this year." © 2025 AFP
