WATCH LIVE: Treasury secretary defends Trump tariffs on Capitol Hill
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Bloomberg
13 minutes ago
- Bloomberg
Dollar Extends Its Slide as US Tariff Concerns Pick Up Again
The dollar extended its decline versus major peers as worries over US tariffs increased after President Donald Trump said he would notify trading partners soon of unilateral levy rates. Bloomberg's gauge of the dollar slid as much as 0.3% on Thursday to touch its lowest level since July 2023 following the news, with the safe-haven yen and Swiss franc leading the advance against the greenback. The dollar was already under pressure from a weaker-than-expected US inflation print, which helped spur traders to fully price in two quarter-point Federal Reserve interest rate cuts this year.
Newsweek
18 minutes ago
- Newsweek
LAPD Chief Pushes Back on Trump National Guard Claim
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Los Angeles Police Department (LAPD) Chief Jim McDonnell said the protests and riots in portions of downtown Los Angeles on Wednesday are "nowhere near" the level of needing the National Guard, denouncing President Donald Trump's assertion that without the troops, the city would be "burning to the ground." Newsweek reached out to the White House via email for comment on Wednesday. Why It Matters Since his January 20 inauguration, Trump has implemented sweeping change, mainly through executive orders, and has prioritized immigration control as a key pillar within his second administration. Trump last month utilized the Alien Enemies Act of 1798, a wartime law granting the commander in chief authority to detain or deport non-citizens. The implementation was originally blocked in federal court and sparked a contentious legal back-and-forth. The president also campaigned on the promise of mass deportations and appointed Tom Homan as his administration's border czar to execute his agenda. What To Know Protests broke out on Friday in reaction to numerous U.S. Immigration and Customs Enforcement raids throughout Los Angeles. Amid the ongoing tumult, city officials including Mayor Karen Bass implemented a curfew for portions of downtown, from 8 p.m. Tuesday to 6 a.m. Wednesday, and it was extended into Wednesday night as well. The LAPD warned that people who break the curfew and who are not exempt—like first responders, credentialed media and those who live in the affected area—will be subject to arrest. While speaking to CNN's Kaitlan Collins, McDonnell said that Wednesday was a "better day," adding that it is "calmer." "No, we were not in a position to request the National Guard," McDonnell said. "We have a protocol that we work up through; first we bring in all internal resources to bear on the issue, whatever it is. Then we mobilize the department or part of the department to be able to get everybody out there dealing with the issue. If we don't have the capacity at that point to be able to do that, then through the sheriff we request mutual aid and we get our law enforcement partners from police departments and sheriff's departments throughout the Southern California region to assist us in doing what it is we need to do." "We're at that level now," McDonnell added. "And we're nowhere near a level where we would be reaching out to the governor for National Guard at this stage. And my hope is that things are going in the right direction now and that we wouldn't have had to have done that, or we won't either." Trump said in part on Wednesday while speaking to reporters that if he didn't bring in the National Guard and the Marines, the city of Los Angeles would be "burning to the ground, just like it was a number of months ago." The president's reference was to the deadly wildfires that inundated Los Angeles County, torching thousands of buildings and displacing thousands of Angelenos. Democratic California Governor Gavin Newsom in a formal address to the Golden State on Tuesday ripped Trump and his administration for inflaming an already combustible situation. Newsom also denounced any violence or harm to law enforcement, vowing to prosecute any lawlessness. Protesters confront California National Guard soldiers and police outside a federal building on June 9 as protests continue in Los Angeles following three days of clashes with police after a series of immigration raids. (Photo... Protesters confront California National Guard soldiers and police outside a federal building on June 9 as protests continue in Los Angeles following three days of clashes with police after a series of immigration raids. (Photo by) More What People Are Saying Newsom posted to X, formerly Twitter, on Wednesday: "Trump is politicizing our military and pulling them off critical missions to further his own agenda." Trump said on Truth Social Wednesday: "If our troops didn't go into Los Angeles, it would be burning to the ground right now, just like so much of their housing burned to the ground. The great people of Los Angeles are very lucky that I made the decision to go in and help!!!" California Attorney General Rob Bonta posted to X on Wednesday: "18 Attorneys General from across the nation speaking out against the President's abuse of power. The Trump Administration's unlawful efforts to force federalized national guard forces and the U.S. military to patrol our streets is deeply alarming and cannot go unchecked." Bass said on X Wednesday: "Curfew remains in effect tonight 8 PM - 6 AM for Downtown Los Angeles to stop bad actors who are taking advantage of the President's chaotic escalation. If you do not live or work in Downtown L.A., avoid the area and follow guidance from law enforcement. Vandalism and violence will not be tolerated." What Happens Next There is a hearing scheduled for 1:30 p.m. Thursday to discuss the legality of the National Guard activation in Los Angeles.
CBS News
19 minutes ago
- CBS News
Adults, children rescued after pontoon boat flips over in Michigan lake
GM investing $4B into 3 plants; Hamtramck's suspended city manager; and more top stories GM investing $4B into 3 plants; Hamtramck's suspended city manager; and more top stories GM investing $4B into 3 plants; Hamtramck's suspended city manager; and more top stories A group of people, including children, was rescued on Wednesday after a pontoon boat flipped over in Commerce Lake. According to the Oakland County Sheriff's Office, no injuries were reported, and authorities were working to recover the boat. It is unknown how many people were rescued. The sheriff's office did not release any additional information.
