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The Trump Administration Is Violating the First Rule of Disasters

The Trump Administration Is Violating the First Rule of Disasters

The Atlantica day ago
In the days since the Texas flash-flood disaster, the Department of Homeland Security has had a stock response to questions about delays in the federal government's response, or about a recent rule requiring DHS Secretary Kristi Noem to personally approve FEMA expenditures over $100,000, including rescue teams. The response goes, over and over, like this: 'FEMA is shifting from bloated, DC-centric dead weight to a lean, deployable disaster force that empowers state actors to provide relief for their citizens … The old processes are being replaced because they failed Americans in real emergencies for decades.'
The Trump administration has been using this line for more than a month now, in response to criticism of its plans to remake, or perhaps disband, FEMA. And many people who study emergency response agree that, to some degree, the agency needs reform. Yet now the administration's press to quickly strip down the agency is being tested against a devastating disaster for the first time. And it is violating a basic precept of emergency management: Be prepared.
In any disaster, responding quickly can help save people and salve the harm. Protocols should be well known and well practiced before an event. An active disaster that killed more than 130 people, with more than 160 still missing, is not the occasion to switch up the norms. 'This is exactly what many of us are concerned about,' Andrew Rumbach, a senior fellow at the nonprofit Urban Institute, told me. However much FEMA might benefit from change, remaking it in an ad hoc fashion will just result in more devastation, he said: 'In the context of a really complicated emergency where lots of people's lives are at stake—that's just not where you want to see experimentation happening.'
And FEMA's response to the Texas flash-flood disaster has not been business as usual. Noem didn't authorize FEMA's deployment of urban-search-and-rescue teams—deployed in the past within hours during similar events—until more than 72 hours after the flooding had begun, per CNN reporting. The agency failed to answer thousands of calls from flood survivors after allowing contracts for call-center workers to lapse one day after the disaster, according to The New York Times. FEMA had fewer than 100 people on the ground in Texas within four days of the disaster, and 311 by day five; within a week of Hurricane Helene, during what Donald Trump deemed a failed response to the flooding, FEMA deployed 1,500.
The situation on the ground in these immediate post-event moments can create a fog-of-war atmosphere, and no complete assessment of the federal government's reaction will be possible until later. 'Like with any really catastrophic event, it's hard to understand what's happening at a micro level,' Rumbach said. Several non-FEMA rescue teams from other states and Mexico traveled to Texas to help, supplementing Texas's own robust emergency-response apparatus. But each of the other state teams waited on FEMA to call them up, as is protocol; FEMA didn't begin to activate any of them until last Monday, according to CNN. No missing person has been found alive since last Friday. 'It's clear that the initial response was much smaller and more measured than you would expect from FEMA,' Rumbach said. 'It's different from what you would expect a year ago, in terms of the number of personnel and the speed of response.' And FEMA is simply operating with fewer resources: About a quarter of the agency's staff has left since Trump took office in January, according to the Times. Due to vacancies, there is currently no FEMA regional administrator in any state along the Gulf Coast, just deputies.
Right now, rather than 'lean' and 'deployable,' it might be more appropriate to describe FEMA as 'starved and hobbled.' But ostensibly, a FEMA-review council assembled by the Trump administration is meant to offer a plan to overhaul the agency. Texas Governor Greg Abbott, who praised the Trump administration's response to the flooding as 'swift and very robust,' sits on that council. At a gathering of the council on the Wednesday after the floods (at which Abbott was absent), Noem reiterated her desire to see FEMA 'eliminated as it existed' and 'remade.' The council's recommendations are due in November.
The administration does seem to understand that its plans to rapidly remake FEMA have real drawbacks. Noem has retained FEMA employees who looked like they'd be let go; Trump said last month that he intends to phase out FEMA only after this hurricane season. But reporting in recent days suggests that the administration is softening its tone on FEMA even further, at least for the moment. The Washington Post
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Stock market today: Dow, S&P 500, Nasdaq end higher after Trump's Powell talk sparks volatile trading
Stock market today: Dow, S&P 500, Nasdaq end higher after Trump's Powell talk sparks volatile trading

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Stock market today: Dow, S&P 500, Nasdaq end higher after Trump's Powell talk sparks volatile trading

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The order should take place within the next few days and will open up retirement plans to riskier investments. Reuters reports: Read more here. Stocks recover to end the trading session higher US stocks recovered earlier losses after President Trump said he wasn't planning to fire Fed Chair Jerome Powell despite multiple earlier media reports that he was moving to do so. The S&P 500 (^GSPC) rose about 0.3%, while the Dow Jones Industrial Average (^DJI) climbed 0.5% to end Wednesday's trading session. The tech-heavy Nasdaq (^IXIC) rose 0.25%. All three major indices had posted declines to hit session lows earlier in the day, reversing initial gains. US stocks recovered earlier losses after President Trump said he wasn't planning to fire Fed Chair Jerome Powell despite multiple earlier media reports that he was moving to do so. The S&P 500 (^GSPC) rose about 0.3%, while the Dow Jones Industrial Average (^DJI) climbed 0.5% to end Wednesday's trading session. 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Google (GOOG) released a quantum computing chip called Willow in December, saying the technology "paves the way to a useful, large-scale quantum computer." Rigetti Computing (RGTI) stock climbed nearly 29% Wednesday after the company announced that it built the largest multi-chip quantum computer to date, with half the error rate of its prior, single-chip computer. Shares of Rigetti are up nearly 1,200% since last year, mirroring gains from fellow quantum computing stock D-Wave (QBTS). Meanwhile, IonQ (IONQ) is up roughly 380% over the past year. The latter two rose 2% and 3.8% Wednesday, respectively. Big Tech has unveiled several quantum breakthroughs this year. IBM (IBM) in June said it is building the world's first large-scale quantum computer capable of operating without errors. The computer, called Starling, is set to launch by 2029. Microsoft (MSFT) and Amazon (AMZN) unveiled new quantum computing chips in February. Google (GOOG) released a quantum computing chip called Willow in December, saying the technology "paves the way to a useful, large-scale quantum computer." Stocks endured a wild ride in the second quarter. It was great news for big banks. The second quarter of 2025 was a great time to be a stock trader at one of the country's major banks, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. The second quarter of 2025 was a great time to be a stock trader at one of the country's major banks, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Nvidia, Meta, Google, Microsoft, and other giant tech stocks have one important challenge coming up Large-cap tech stocks will likely soon be forced to meet the moment, Yahoo Finance's Brian Sozzi reports. Sozzi writes: Read the full story here. Large-cap tech stocks will likely soon be forced to meet the moment, Yahoo Finance's Brian Sozzi reports. Sozzi writes: Read the full story here. The bond market is on edge as Trump's threat to fire Powell resurfaces The bond market remains on edge after multiple outlets reported that President Trump was seriously considering firing Federal Reserve Chair Jerome Powell, Yahoo Finance's Allie Canal reports — only for the president to downplay the possibility as stocks fell and Treasury yields jumped. Canal writes: Read the full story here. The bond market remains on edge after multiple outlets reported that President Trump was seriously considering firing Federal Reserve Chair Jerome Powell, Yahoo Finance's Allie Canal reports — only for the president to downplay the possibility as stocks fell and Treasury yields jumped. Canal writes: Read the full story here. Bitcoin, crypto stocks rise on renewed optimism for stablecoin legislation Bitcoin (BTC-USD) and crypto stocks bounced back Wednesday as optimism rose over the fate of three cryptocurrency bills that were snagged in the House of Representatives Tuesday. On Wednesday, Republican representative and Financial Services Committee Chairman French Hill told CNBC that the House has the necessary votes to pass the three crypto bills: the CLARITY Act, a market framework bill; the GENIUS Act, tied to stablecoin regulation; and the Anti-CBDC Surveillance State Act, which bans the Federal Reserve from issuing a central bank digital currency directly to individuals. Shares of stablecoin issuer Circle (CRCL) rose nearly 14%, while crypto exchange Coinbase (COIN) saw its stock rise 2.6%. Robinhood (HOOD) rose 3.5%, and Strategy (MSTR) climbed 2.6%. Bitcoin rose 1.4% to nearly $119,000 after hitting a high above $120,000 earlier in the week. Hill's comments came after President Trump said on Truth Social late Tuesday that the GENIUS Act has the support necessary for passage. "I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule," Trump wrote late Tuesday on Truth Social. Bitcoin (BTC-USD) and crypto stocks bounced back Wednesday as optimism rose over the fate of three cryptocurrency bills that were snagged in the House of Representatives Tuesday. On Wednesday, Republican representative and Financial Services Committee Chairman French Hill told CNBC that the House has the necessary votes to pass the three crypto bills: the CLARITY Act, a market framework bill; the GENIUS Act, tied to stablecoin regulation; and the Anti-CBDC Surveillance State Act, which bans the Federal Reserve from issuing a central bank digital currency directly to individuals. Shares of stablecoin issuer Circle (CRCL) rose nearly 14%, while crypto exchange Coinbase (COIN) saw its stock rise 2.6%. Robinhood (HOOD) rose 3.5%, and Strategy (MSTR) climbed 2.6%. Bitcoin rose 1.4% to nearly $119,000 after hitting a high above $120,000 earlier in the week. Hill's comments came after President Trump said on Truth Social late Tuesday that the GENIUS Act has the support necessary for passage. "I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule," Trump wrote late Tuesday on Truth Social. Trump: Powell does a 'terrible job,' but says 'not talking about' firing Fed chair Just moments after reporting from multiple outlets suggested President Trump was moving closer to firing Federal Reserve Chair Jerome Powell, Trump said he's "not talking about" firing Powell. Speaking to reporters in the Oval Office, Trump was asked about whether he'd try to remove Powell and while he reiterated his view Powell is not doing a good job and should be lowering rates, he's not considering firing the Fed chair, noting that his term is up in May. In response, stocks moved off session lows and were trading little-changed. Just moments after reporting from multiple outlets suggested President Trump was moving closer to firing Federal Reserve Chair Jerome Powell, Trump said he's "not talking about" firing Powell. Speaking to reporters in the Oval Office, Trump was asked about whether he'd try to remove Powell and while he reiterated his view Powell is not doing a good job and should be lowering rates, he's not considering firing the Fed chair, noting that his term is up in May. In response, stocks moved off session lows and were trading little-changed. Dollar crushed as Trump appears to move closer to firing Powell The drumbeat that President Trump will fire Fed Chair Jerome Powell got louder Wednesday, with reporting from CBS News, Bloomberg, CNBC, and The New York Times all adding to the sense that Trump is getting closer to making the unprecedented move. Stocks were lower following the news, but the biggest move in markets was coming from the foreign exchange market, where the dollar was getting crushed against other major currencies. The dollar quickly fell as much as 1% against the Japanese yen, lost about 0.7% against the euro, and fell about 0.5% against the British pound. The dollar index fell about 0.7%. Trump has for some time complained about Powell's lack of aggressive rate cuts this year, saying the Fed chair is "too late," among other barbs. And while the spat between Trump and Powell — who was named Fed chair by Trump during his first term in office — has now spanned multiple administrations, some on Wall Street also see Trump's desire to cut Powell as coming back to aiding his key economic agenda: tariffs. "There is method to President Donald Trump's madness regarding Fed Chair Jerome Powell," Ed Yardeni of Yardeni Research wrote in a note to clients on July 1. "Trump has been hammering Powell almost daily recently because doing so is very effectively hammering the foreign-exchange value of the dollar. Trump wants a weaker dollar to boost US exports and depress US imports. He has said that he favored a weaker dollar many times in the past, but now he has found a way to achieve that: by beating up on Powell." As for whether Trump will be able to fire Powell, the Supreme Court in May issued a ruling that walled off the Federal Reserve from other independent agencies that had their leaders removed by Trump. The drumbeat that President Trump will fire Fed Chair Jerome Powell got louder Wednesday, with reporting from CBS News, Bloomberg, CNBC, and The New York Times all adding to the sense that Trump is getting closer to making the unprecedented move. Stocks were lower following the news, but the biggest move in markets was coming from the foreign exchange market, where the dollar was getting crushed against other major currencies. The dollar quickly fell as much as 1% against the Japanese yen, lost about 0.7% against the euro, and fell about 0.5% against the British pound. The dollar index fell about 0.7%. Trump has for some time complained about Powell's lack of aggressive rate cuts this year, saying the Fed chair is "too late," among other barbs. And while the spat between Trump and Powell — who was named Fed chair by Trump during his first term in office — has now spanned multiple administrations, some on Wall Street also see Trump's desire to cut Powell as coming back to aiding his key economic agenda: tariffs. "There is method to President Donald Trump's madness regarding Fed Chair Jerome Powell," Ed Yardeni of Yardeni Research wrote in a note to clients on July 1. "Trump has been hammering Powell almost daily recently because doing so is very effectively hammering the foreign-exchange value of the dollar. Trump wants a weaker dollar to boost US exports and depress US imports. He has said that he favored a weaker dollar many times in the past, but now he has found a way to achieve that: by beating up on Powell." As for whether Trump will be able to fire Powell, the Supreme Court in May issued a ruling that walled off the Federal Reserve from other independent agencies that had their leaders removed by Trump. Stocks sink as Trump moves to fire Powell President Trump asked Republican members of the House of Representatives if he should fire Fed Chair Jerome Powell in the Oval Office on Tuesday night, CBS News reported Wednesday, citing unnamed sources. The New York Times reported that Trump had showed off a draft of a letter firing Powell during the meeting. The Republican representatives voiced approval for such a move, CBS reported. Shortly after the CBS report, Bloomberg reported that Trump is likely to fire Powell soon, citing a White House official. All three major indexes fell after the news to touch lows for the day. The S&P 500 (^GSPC) fell 0.45%, while the Dow Jones Industrial Average (^DJI) fell 0.3%. The Nasdaq Composite (^IXIC) dropped nearly 0.6%. The US Dollar DXY ( fell roughly 0.9% following the news. Meanwhile, bets on Fed rate cuts rose from earlier in the day after weaker-than-expected inflation data out earlier Wednesday morning. As of late Wednesday morning, traders saw a more than 70% chance of the Fed cutting rates in September, versus roughly 56% earlier in the day, according to CME Group. President Trump asked Republican members of the House of Representatives if he should fire Fed Chair Jerome Powell in the Oval Office on Tuesday night, CBS News reported Wednesday, citing unnamed sources. The New York Times reported that Trump had showed off a draft of a letter firing Powell during the meeting. The Republican representatives voiced approval for such a move, CBS reported. Shortly after the CBS report, Bloomberg reported that Trump is likely to fire Powell soon, citing a White House official. All three major indexes fell after the news to touch lows for the day. The S&P 500 (^GSPC) fell 0.45%, while the Dow Jones Industrial Average (^DJI) fell 0.3%. The Nasdaq Composite (^IXIC) dropped nearly 0.6%. The US Dollar DXY ( fell roughly 0.9% following the news. Meanwhile, bets on Fed rate cuts rose from earlier in the day after weaker-than-expected inflation data out earlier Wednesday morning. As of late Wednesday morning, traders saw a more than 70% chance of the Fed cutting rates in September, versus roughly 56% earlier in the day, according to CME Group. Expectations for Fed rate cuts in September are falling Investor speculation that the Fed will hold rates steady not just this month but also in September is growing. According to the CME Group, traders are pricing in a 44% chance that the Fed will not cut rates in September, up from 30% last week. Investors see a more than 54% probability of a 25 basis point cut in September, down from roughly 66% last week. And traders are betting that there's a slim 1.4% chance that the central bank will cut rates by 50 basis points, down from 4.2% last week. Investor speculation that the Fed will hold rates steady not just this month but also in September is growing. According to the CME Group, traders are pricing in a 44% chance that the Fed will not cut rates in September, up from 30% last week. Investors see a more than 54% probability of a 25 basis point cut in September, down from roughly 66% last week. And traders are betting that there's a slim 1.4% chance that the central bank will cut rates by 50 basis points, down from 4.2% last week. Johnson & Johnson stock climbs after earnings beat Johnson & Johnson (JNJ) stock climbed nearly 5% Wednesday after the drugmaker's latest earnings results topped expectations and the company raised its financial outlook for the year. The pharma giant reported revenues of $23.7 billion, higher than the $22.8 billion expected by Wall Street analysts. Earnings per share came in at $2.77, compared to the $2.66 projected, Yahoo Finance's Anjalee Khemlani reports. The company also raised its revenue guidance for the year to a range between $93.2 billion and $93.6 billion, up from its prior range of $91 billion to $91.8 billion. J&J lifted full-year earnings per share guidance by $0.25 to $10.85. Khemlani writes: Read more about J&J's latest earnings results here. Johnson & Johnson (JNJ) stock climbed nearly 5% Wednesday after the drugmaker's latest earnings results topped expectations and the company raised its financial outlook for the year. The pharma giant reported revenues of $23.7 billion, higher than the $22.8 billion expected by Wall Street analysts. Earnings per share came in at $2.77, compared to the $2.66 projected, Yahoo Finance's Anjalee Khemlani reports. The company also raised its revenue guidance for the year to a range between $93.2 billion and $93.6 billion, up from its prior range of $91 billion to $91.8 billion. J&J lifted full-year earnings per share guidance by $0.25 to $10.85. Khemlani writes: Read more about J&J's latest earnings results here. US stocks edge up at the open US stocks inched higher Wednesday morning as investors digested another round of corporate earnings results and a wholesale inflation checkup. The Dow Jones Industrial Average (^DJI) rose about 0.3% after shedding over 400 points on Tuesday, while the S&P 500 (^GSPC) was up nearly 0.2%. The tech-heavy Nasdaq Composite (^IXIC) was just above the flat line after notching a fresh record Tuesday as AI chipmaker Nvidia (NVDA) hit a new high. Shares of Johnson & Johnson (JNJ), Bank of America (BAC), and Goldman Sachs (GS) rose after reporting solid earnings results, while Morgan Stanley (MS) stock fell despite the bank's own earnings report topping Wall Street's projections. US stocks inched higher Wednesday morning as investors digested another round of corporate earnings results and a wholesale inflation checkup. The Dow Jones Industrial Average (^DJI) rose about 0.3% after shedding over 400 points on Tuesday, while the S&P 500 (^GSPC) was up nearly 0.2%. The tech-heavy Nasdaq Composite (^IXIC) was just above the flat line after notching a fresh record Tuesday as AI chipmaker Nvidia (NVDA) hit a new high. Shares of Johnson & Johnson (JNJ), Bank of America (BAC), and Goldman Sachs (GS) rose after reporting solid earnings results, while Morgan Stanley (MS) stock fell despite the bank's own earnings report topping Wall Street's projections. Trending tickers: J&J, ASML, Goldman Sachs, SharpLink Gaming Here's a look a the top trending tickers in premarket trading as earnings season kicks off: Read more live coverage of earnings season here. Here's a look a the top trending tickers in premarket trading as earnings season kicks off: Read more live coverage of earnings season here. Wholesale prices increase less than expected in June Wholesale prices rose less than expected in June. Wednesday's report from the Bureau of Labor Statistics showed that its producer price index (PPI) — which tracks the price changes companies see — rose 2.3% from the year prior, below the 2.7% seen in May and lower than the 2.5% increase economists had projected. On a monthly basis, prices were flat. Economists had expected 0.2% increase. Excluding food and energy, "core" prices rose 2.6% year over year, below the 3.2% gain seen in May. Economists had expected an increase of 2.7%. Meanwhile, month-over-month core prices were flat below the 0.2% increase economists had expected and the 0.3% gain seen last month. The report follows Tuesday's Consumer Price Index (CPI) report which showed core price increases accelerated to 2.9% in June. Wholesale prices rose less than expected in June. Wednesday's report from the Bureau of Labor Statistics showed that its producer price index (PPI) — which tracks the price changes companies see — rose 2.3% from the year prior, below the 2.7% seen in May and lower than the 2.5% increase economists had projected. On a monthly basis, prices were flat. Economists had expected 0.2% increase. Excluding food and energy, "core" prices rose 2.6% year over year, below the 3.2% gain seen in May. Economists had expected an increase of 2.7%. Meanwhile, month-over-month core prices were flat below the 0.2% increase economists had expected and the 0.3% gain seen last month. The report follows Tuesday's Consumer Price Index (CPI) report which showed core price increases accelerated to 2.9% in June. Goldman stock gains as trading and dealmaking boosts profits Shares of Goldman Sachs (GS), JPMorgan Chase (JPM), and Citigroup (C) were moving higher in premarket trading on Wednesday after the Wall Street firms reported higher dealmaking and trading revenue this week to kick off earnings season. Yahoo Finance's David Hollerith reports: Read more here. Shares of Goldman Sachs (GS), JPMorgan Chase (JPM), and Citigroup (C) were moving higher in premarket trading on Wednesday after the Wall Street firms reported higher dealmaking and trading revenue this week to kick off earnings season. Yahoo Finance's David Hollerith reports: Read more here. Markets are now ho-hum about tariff threats. Trump and Wall Street disagree about why. Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Chip linchpin ASML warns on 2026 growth amid tariff headwinds ASML (ASML, shares slumped almost 8% in premarket trading after the chip industry linchpin said it may not achieve growth in 2026. The warning came even as the world's biggest supplier of chipmaking gear's second quarter bookings topped Wall Street estimates on Wednesday. Reuters reported: Read more here. ASML (ASML, shares slumped almost 8% in premarket trading after the chip industry linchpin said it may not achieve growth in 2026. The warning came even as the world's biggest supplier of chipmaking gear's second quarter bookings topped Wall Street estimates on Wednesday. Reuters reported: Read more here. Gold rises as trade war fears bolster haven asset Gold (GC=F) rose overnight Tuesday as a wave of tariff updates did little to appease flighty investors looking for safe investments. With multiple rocky trade deals on the table, markets have pushed back into the valuable metal which has risen by over 25% this year so far. Bloomberg reports: Read more here. Gold (GC=F) rose overnight Tuesday as a wave of tariff updates did little to appease flighty investors looking for safe investments. With multiple rocky trade deals on the table, markets have pushed back into the valuable metal which has risen by over 25% this year so far. Bloomberg reports: Read more here. Trump order to open up private investment to retirement plans. President Trump is in the process of signing an executive order that will allow retirement plan providers to invest more heavily in private assets, according to those familiar with the matter. The order should take place within the next few days and will open up retirement plans to riskier investments. Reuters reports: Read more here. President Trump is in the process of signing an executive order that will allow retirement plan providers to invest more heavily in private assets, according to those familiar with the matter. The order should take place within the next few days and will open up retirement plans to riskier investments. Reuters reports: Read more here. 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

DHS Secretary Noem says airline carry-on liquids limit could be changed soon
DHS Secretary Noem says airline carry-on liquids limit could be changed soon

Yahoo

time21 minutes ago

  • Yahoo

DHS Secretary Noem says airline carry-on liquids limit could be changed soon

One week after announcing an end to the requirement that passengers remove their shoes when undergoing airport security screening, the Department of Homeland Security could also alter another post-9/11 mainstay of air travel – the amount of liquid ounces that people can take with them onboard commercial planes. "The liquids I'm questioning, so that may be the next big announcement is what size your liquids need to be," DHS Secretary Kristi Noem said at an event in Washington, D.C., on Wednesday. "We're looking at our scanners, what we have put in place in TSA, multi-layered screening process that allows us to change some of how we do security and screening so it still is safe." Noem didn't indicate when the updated policy announcement might be made. The Transportation Security Administration (TSA) in 2006 implemented a policy limiting liquids, gels and aerosols in passenger carry-on luggage to 3.4-ounce containers or smaller, to lessen the chances of liquid explosives being brought onboard commercial aircraft. MORE: Homeland Security ends mandatory shoe removal at airport screening Noem announced on July 8 that DHS was ending the nearly 20-year requirement that passengers remove their shoes for inspection before boarding commercial aircraft. The policy was implemented in 2006 after the so-called "shoe bomber," Richard Reid, unsuccessfully attempted to detonate plastic explosives concealed in his shoes onboard a flight from Paris, France to Miami, Fla. On Dec. 22, 2001. Noem said during last week's announcement that DHS was able to terminate the shoe removal policy due to the 'layered security' by the TSA now place. These layers include additional officers at security checkpoints, new scanners and technology and the recently enforced REAL ID requirement, Noem said. Secretary Noem was also asked about the current threat environment in the United States. "We have the threat from terrorists that are in our country today that we need to remove," she said. "We also have the crimes that are happening on our streets by those individuals that are murderers and rapists that affect families immediately." Noem said the U.S. critical infrastructure is also vulnerable to attack and pointed to various cyber incidents that have occurred in the past year.

Stocks End Higher After Trump Plays Down Intentions to Fire Powell
Stocks End Higher After Trump Plays Down Intentions to Fire Powell

Wall Street Journal

time21 minutes ago

  • Wall Street Journal

Stocks End Higher After Trump Plays Down Intentions to Fire Powell

A series of reports indicating that President Trump could attempt to fire Federal Reserve Chair Jerome Powell sparked a roller-coaster day on Wall Street, before major indexes closed the session near records. Major stock indexes slid as much as 0.8% midday after news that Trump told Republican lawmakers that he was likely to attempt to remove Powell from his job soon. The prospect that lower rates would eventually yield higher inflation sparked a selloff in long-dated Treasurys, driving up the 30-year yield around 0.1 percentage point.

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