Trump to Launch LA 2028 Summer Olympics Task Force
White House press secretary Karoline Leavitt said that Trump views it as 'a great honor' to oversee the Olympics during his second term, having played an instrumental role in securing the U.S. bid to host the global sporting event in Los Angeles.
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Yahoo
4 minutes ago
- Yahoo
Trump Says He'll Likely Name Temporary Fed Governor to Open Seat
(Bloomberg) -- President Donald Trump indicated he would likely nominate a temporary Federal Reserve governor to fill the soon-to-be vacant seat on the central bank's board within the coming days, rather than use the seat to signal his choice to replace Jerome Powell as chairman. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station 'We're probably going to go with the temp and then a permanent,' Trump told reporters Wednesday at the White House. 'I think the temp is going to be named, I'd say, over the next two, three days, and then we're going to go permanent.' Fed Governor Adriana Kugler announced last week that she plans to vacate her role on Aug. 8. That gives Trump a choice. He can elevate someone to serve out the rest of her term, which expires in January, and keep weighing his options for the more prominent chair role, or he can make a decision on the Fed chair role months earlier than he'd planned and announce that now. Several of those on Trump's Fed short list are outsiders, and the president isn't guaranteed to get another chance to name a new board member before Powell's term as chair expires in May. While Fed chairs typically step off the board when they step down, he does have the option to stay on and deny Trump a second opening. Powell's underlying post as a governor extends into 2028 and he has so far declined to reveal his plans. Advisers had encouraged the president to name a short-term pick first, simply to complete Kugler's term that expires in January. That approach would give Trump weeks or months more to interview candidates to serve as chair. And it's the strategy Trump said Wednesday he's leaning toward. Trump said he was considering 'probably' three candidates for the temporary position, adding that they could come from Wall Street. 'Yeah, essentially, we're all from Wall Street, aren't we, when you get right down to it?' Trump said. He added that Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and Vice President JD Vance were among the advisers participating in the process. Separately, Trump reiterated that he considered 'the two Kevins' — former Federal Reserve Governor Kevin Warsh and National Economic Council Director Kevin Hassett — as top candidates for the Fed Chair role when it becomes open. --With assistance from Justin Sink. (Updates with additional details on Fed timing and selection process starting in fourth paragraph.) Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity The GOP Is Choosing Pesticides Over the MAHA Moms ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
6 minutes ago
- CNBC
Asia markets set to open lower as investors weigh Trump's vow on fresh chip tariffs
Asia-Pacific markets are set to start the day lower, following U.S. President Donald Trump's vow to impose a 100% tariff on imports of semiconductors and chips to the U.S., but companies that are "building in the United States" will be exempted. Details such as how much a company needs to be manufacturing in the U.S. to qualify for the tariff exemption were not immediately clear. Good morning from Singapore. Investors will be keeping a close watch on chip stocks following U.S. President Donald Trump's vow to impose 100% tariffs on imported semiconductors and chips, unless they are made by companies "building in the United States." Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 40,785 while its counterpart in Osaka last traded at 40,790, against the index's last close of 40,794.86. Futures for Hong Kong's Hang Seng index stood at 24,903, pointing to a weaker open compared with the HSI's Wednesday close of 24,910.63. Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,779, compared with its last close of 8,843.70. — Amala Balakrishner President Donald Trump said late Wednesday that he would slap a 100% duty on imports of semiconductors and chips – with an exception for companies that are "building in the United States." "We're going to be putting a very large tariff on chips and semiconductors," he said, speaking in the Oval Office on Wednesday afternoon. "But the good news for companies like Apple is if you're building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge," Trump added. Shares of Apple advanced 3% in extended trading, fresh off a 5% gain in the regular session. Stock chart icon Apple shares in the past day – Kevin Breuninger, Darla Mercado All the three major averages finished with gains on Wednesday. The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12. — Sean Conlon
CNN
34 minutes ago
- CNN
Trump says he's considering taking over DC police and bringing in National Guard
President Donald Trump says he's considering the federal government taking over Washington, DC, and bringing in the National Guard after a former DOGE employee was assaulted in an attempted carjacking.
