Rep. Gottheimer: Chaos at Newark Airport is ‘alarming'
Democratic Rep. Josh Gottheimer of New Jersey talks with Wolf about the chaos at Newark Airport and slams Trump's growing trade war.
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33 minutes ago
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Japan's ex-top FX diplomat expects yen to rise near 140 by year-end
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) -A narrowing U.S.-Japan interest rate gap, rather than any effort by President Donald Trump to weaken the dollar, will likely lift the yen to around 135-140 against the U.S. unit by year-end, Japan's former top currency diplomat said on Friday. Markets are rife with speculation that Trump - who in the past accused Japan and China of currency manipulation - will pressure Tokyo to help weaken the dollar against the yen to give U.S. exports a trade advantage. Mitsuhiro Furusawa, a former currency diplomat who retains close ties with Japanese and overseas incumbent policymakers, said it was unclear whether the Trump administration was explicitly taking a weak-dollar policy. "It's not easy for policymakers to intentionally weaken the dollar," Furusawa said in an interview. "Having made clear that tariffs are the main tools (for negotiation), I don't think Washington needs to rely much on currencies to achieve its goals," said Furusawa, who also served as the International Monetary Fund's deputy managing director until 2021. Still, the U.S. likely wants to avoid further dollar rises from hurting exports, Furusawa said. Japan, for its part, wants to prevent a weak yen from pushing up inflation, he said. "As such, they are eye-to-eye on this front. That means the yen will likely rise gradually," said Furusawa. The diverging monetary policy direction between Japan and the U.S. will also prop up the yen with the Federal Reserve's next move seen as an interest rate cut, while the Bank of Japan (BOJ) eyes further rate hikes, Furusawa said. BOJ Governor Kazuo Ueda has said the bank will continue raising rates if economic improvements keep inflation on course to durably hit its 2% target, though he has signaled a pause until there is more clarity on the fallout from Trump's tariffs. "If Japan succeeds in reaching a broad trade agreement with the U.S. possibly at this month's G7 summit, that will reduce uncertainty," Furusawa said. Real wages will also rise and underpin consumption once food inflation dissipates, he said. "If we see such positive developments, the BOJ could hike rates again in the latter half of this year," Furusawa said, adding the yen "will likely strengthen to around 135-140 to the dollar by year-end." The yen stood around 143.90 to the dollar in Asia on Friday. The BOJ probably wants to eventually raise its short-term policy rate target - currently at 0.5% - above 1%, though there is uncertainty on whether it would succeed, said Furusawa, who is currently president of Sumitomo Mitsui Banking Corp's Institute for Global Financial Affairs. Japan is continuing trade talks with the U.S. with a focus on gaining concessions on automobile tariffs. Domestic media has reported the two sides may seek to clinch a deal in time for the G7 summit on June 15-16. Finance Minister Katsunobu Kato caused a stir last month when he said Japan could use its $1 trillion-plus holdings of U.S. Treasuries as a card in trade talks with Washington. He later said Tokyo had no plan to threaten selling U.S. Treasuries. Furusawa said it was natural for Japan, as a negotiating tactic, to say all options were on the table. But whether Japan can actually use it as a bargaining tool was questionable, partly as threatening to sell U.S. Treasuries could backfire by angering Trump and derailing trade negotiations. Sign in to access your portfolio
Yahoo
35 minutes ago
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Trump outraged by Ukraine's strikes on Russia: White House considers ending support for Kyiv
US President Donald Trump is outraged by Ukraine's decision to strike Russian air bases. The attack has caused anger in the White House and triggered a new wave of debate over the advisability of further support for Kyiv. Source: The Atlantic, citing three administration officials and an outside White House adviser Details: According to The Atlantic, Trump has in private conversations with advisers expressed deep dissatisfaction that Ukraine had taken such a step without coordinating with the United States. The sources said that a new round of discussions has begun on whether continued military and financial support for Kyiv is justified following the Ukrainian attack. Trump's personal dissatisfaction with Ukrainian President Volodymyr Zelenskyy was once again rekindled – the US president has called him a "hothead" who, in his opinion, could push the world towards a Third World War. "Zelenskyy didn't give the president of the United States a heads-up to say he's going to do a deep strike into strategic forces of Russia, which is going up the escalatory ladder as quickly as you can, on the day before your meeting in Türkiye?" Trump's former strategist Steve Bannon said. Trump privately backed the view of right-wing critics this week, accusing Zelenskyy of allegedly showing off after the drone strikes. According to an adviser, Trump was impressed by the boldness of the strikes but believes Zelenskyy should have focused on the talks between Ukraine and Russia in Istanbul. Background: Trump revealed details of his latest conversation with Kremlin leader Vladimir Putin, including his suggestion that Ukraine and Russia should be allowed to "fight for a while" because it would make ending the war easier later. Earlier, Trump said he is refraining from imposing sanctions on Russia if he believes it could "screw up" the conclusion of a "deal". Support Ukrainska Pravda on Patreon!
Yahoo
35 minutes ago
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Several groups propose improvement plans to 4B sales tax board
WICHITA FALLS (KFDX/KJTL) — The 4B sales tax in Wichita Falls is meant to help fund improvements to life throughout the city. In a meeting on Thursday, June 5, the board overseeing those tax funds met to hear the different proposals they can put some of the money toward. One of the proposals from the day's meeting was an improvement to the area around the falls off of I-44. The presentation by Russell Schreiber from Public Works, along with a representative from Garver in Fort Worth, proposed improvements such as new parking areas around the falls and new methods for pumping water through the feature, thereby enhancing its overall appearance. 'That's the landmark of the city of Wichita Falls,' Schreiber said. 'We really like that thing to operate more than it has been in the past, as well as maybe probably to try to improve the overall water quality. I mean, it is the landmark of the city of Wichita Falls.' Another proposal was to improve the tennis facilities at Hamilton Park. Director of Falls Town Tennis, Michael Turner, proposed improving the facilities with new covered tennis courts, which would allow the courts to hold more tournaments. It's a feature Turner says would be a big economic opportunity. 'If we held a two-day tournament, it brings in $64,000 per tournament,' Turner said. 'We hold six of these a year currently. These tournaments are not full currently because of the facility that we have.' These were just a couple of the proposals brought to the board. Each one will be voted on before further steps can be taken to fine-tune the approved proposals. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
