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PPG recognized in Newsweek's America's Greatest Companies 2025 list
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Business Insider
20 minutes ago
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Trump demands the resignation of a key Fed official as he broadens his attacks on the central bank
Jerome Powell isn't Donald Trump's only target at the Federal Reserve anymore. In a post on Truth Social on Wednesday, the president posted that Fed Governor Lisa Cook should resign immediately, due to recent allegations made against her by Federal Housing Finance Agency director Bill Plute. Pulte submitted a letter to Attorney General Pam Bondi and Department of Justice official Ed Martin on August 15, alleging that Cook had committed illicit activity related to two mortgage loans. Bloomberg reported that the letter said she had "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute." This comes after Pulte made similar accusations against New York Attorney General Letitia James in April and, more recently, against Senator Adam Schiff. While Cook is not politically active and doesn't seem to have made any statements against Trump, she is the first African-American woman to sit on the central bank's board of directors and was nominated by President Joe Biden. Trump's demand that Cook resign expands his attacks on central bank officials, which have mainly focused on Fed Chair Powell until now. Cook's resignation would give Trump another opportunity to appoint another top Fed official after Adriana Kugler announced her resignation at the beginning of August. Trump has repeatedly attacked Powell when he has refused to lower interest rates, including accusing him of mismanaging the renovation of the Fed's headquarters. Powell is set to deliver remarks from Jackson Hole this Friday, with markets on edge over whether he'll strike a more dovish or hawkish tone. It has not been confirmed if Bondi will proceed with legal action against Cook, who has issued no statement on the allegations. No charges have been filed, and the Federal Reserve and the DOJ have not commented.
Epoch Times
20 minutes ago
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US Adds Steel, Copper, Lithium to High-Priority List Under Uyghur Forced Labor Law
The United States will add steel, copper, lithium, and two other products to its import restriction list under the Uyghur Forced Labor Prevention Act (UFLPA), the Department of Homeland Security (DHS) announced on Aug. 19. DHS said it was also adding caustic soda and red dates to its high-priority list for enforcing the UFLPA, which bans the import of products made with forced labor in China's Xinjiang region, where the Chinese Communist Party (CCP) has been committing human rights abuses against Uyghurs and other ethnic minorities, according to human rights groups and lawmakers. 'The use of slave labor is repulsive and we will hold Chinese companies accountable for abuses and eliminate threats its forced labor practices pose to our prosperity,' DHS Secretary Kristi Noem said in a statement. To date, there are 144 entities listed on the UFLPA Entity List that have been accused of using forced labor of Uyghurs and other ethnic minorities in the Xinjiang region, according to the statement. DHS stated that as of Aug. 1, U.S. Customs and Border Protection (CBP) had blocked more than 16,700 imports valued at nearly $3.7 billion to examine whether they are prohibited under the UFLPA, of which more than 10,000 shipments were denied entry. 'America has a moral, economic, and national security duty to eradicate threats that endanger our nation's prosperity, including unfair trade practices that disadvantage the American people and stifle our economic growth,' Noem stated. 'The Trump administration is taking action.' The department also released its update to the UFLPA enforcement strategy, underscoring the Trump administration's efforts to block the entry of Chinese goods made with forced labor into the United States. According to the strategy report, the Forced Labor Enforcement Task Force listed high-priority sectors to provide importers with transparency and allow businesses to scrutinize supply chains involving products in those sectors. 'Ending forced labor is an economic and national security imperative for the United States,' Christopher Pratt, senior DHS official performing the duties of the undersecretary for strategy, policy, and plans, stated in the report. Pratt said that cracking down on imports made with forced labor helps protect compliant U.S. and international manufacturers from 'unfair competition' while also promoting American businesses and industries. Under the UFLPA, businesses are banned from importing products produced wholly or in part in Xinjiang, unless they can provide 'clear and convincing evidence' that no forced labor was used in producing the imported goods, according to the DHS website. The United States has described the detention of more than 1 million Uyghur and other Muslim minorities in Xinjiang as a genocide, and both the first Trump administration and the Biden administration have imposed sanctions on Chinese officials for suppression in Xinjiang. In March, the State Department imposed visa restrictions on current and former Thai officials involved in the deportation of 40 Uyghurs from Thailand to China on Feb. 27.
