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The Hill
14 hours ago
- Business
- The Hill
Bessent tamps down Powell threats
Bessent was asked on MSNBC's 'Morning Joe' if the president should say he will let Powell finish his term to give certainty to the markets, after indications he would try to fire the head of the central bank have rattled them. The secretary pushed back on the question. 'I'm not sure where that question comes from, because President Trump has repeatedly said he's not going to fire Chair Powell,' Bessent said. 'He might like for him to resign, but he's not going to fire him. He's said that on numerous occasions. I think he may have even said it again yesterday.' The president said Tuesday he doesn't think Powell should resign before his term is up in May but bashed him for not lowering interest rates. 'I think he's doing a bad job, but he's going to be out soon anyway. In eight months, he'll be out,' the president said. When asked about the pressure campaign on the Fed chair to lower rates, Bessent said it is part of the role. 'I think anyone who goes into public service should expect pressure. I get pressure from the president, from the Congress, from constituents,' Bessent said.
Time of India
19 hours ago
- Politics
- Time of India
Epstein scandal triggers full-blown panic in Trump's inner circle as President plans escape to Scotland
Jeffrey Epstein scandal is once again rocking US President Donald Trump's inner circle, and this time the fallout appears to be more difficult to contain. His allies in Washington are reportedly in a state of panic as the president prepares to fly to Scotland. The Epstein scandal is causing real panic in Donald Trump's orbit, as questions about his past ties to the disgraced financier rise. A disoriented White House is reportedly scrambling for damage control and distraction strategies. Explore courses from Top Institutes in Please select course: Select a Course Category Why is Donald Trump's usual distraction playbook failing? by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like I Thought I'd Never Walk Again – Then I Tried This Sleeve Wellnee Undo Jonathan Lemire, co-host of MSNBC's "Morning Joe" show, reported that the White House is in a panic over what to do because nothing seems to be working, as media outlets are becoming more aggressive in criticizing the president and some of his top officials for fabricating "distractions" to divert attention elsewhere. In an extended monologue, he told co-host Willie "President Trump is usually very good at trying to distract people, trying to change the topic of conversation and particularly to get Republicans to fall in line and we've seen him really hit the limits of that over this last week or so because of the Epstein files as he is throwing things against the wall very dangerously." Live Events Lemire said that Trump tried to avoid criticism by going after the Wall Street Journal and other mainstream media outlets after they brought up his ties to Jeffrey Epstein again. "That made MAGA influencers mad at the press again for a short time, but it didn't change the focus from the bigger question: What was Trump's connection to Epstein, and what is being kept secret?" as quoted in a report by Raw Story. What do Republicans say when no one is around? Republicans on Capitol Hill are becoming more and more unhappy with the White House, which makes things worse for them. Rep. Thomas Massie has openly gone against Trump before, but this time he's not the only one. A lot of Republican lawmakers are now calling for the full release of the Epstein files. ALSO READ : iOS 26 Beta 4 is here — AI news, liquid glass glow and more sneak peek features tailor-made for you Sources say that these Republicans are feeling the pressure from their voters. They're going back to their districts, where town halls may turn into battlefields full of pointed questions, not just about Medicaid cuts and legislative priorities, but also about any role they may be playing in protecting Trump from scrutiny related to Epstein, as per a report by the Raw Story. How is the Epstein story affecting Congress? It's not just political pressure; it's personal too. People are now asking GOP lawmakers to support openness about the Epstein files, which have been kept secret for a long time. People are talking about a petition that could be filed in September if the information isn't made public by then. The fact that this story has legs is especially bad news for Trump's team. It's not just the media going crazy; it's also getting support in Congress and from regular Americans who are sick of lies and half-truths. Lemire said that there was a "rare sense of real panic" among people close to Trump, which shows how bad things have gotten. As President Trump gets ready to leave for Scotland, his close friends are reportedly on edge because they can't stop a scandal from getting worse. The Epstein case is turning out to be more than just a public relations nightmare; it's turning into a political reckoning that even Trump's best moves may not be able to avoid. FAQs Why is Trump's inner circle panicking right now? The renewed focus on Trump's past ties to Jeffrey Epstein has prevented his team from controlling the media narrative or silencing GOP critics. What has Donald Trump done in response? He's reportedly planning a trip to Scotland as allies try to divert attention away from the escalating scandal.
The Hill
21 hours ago
- Business
- The Hill
Bessent: Trump ‘not going to fire' Powell
Treasury Secretary Scott Bessent on Wednesday insisted that President Trump isn't going to fire Federal Reserve Chair Jerome Powell, but suggested that the pressure on the Fed to lower interest rates will continue. Bessent was asked on MSNBC's 'Morning Joe' if the president should say he will let Powell finish his term to give certainty to the markets, after indications that he would try to fire the head of the central bank have rattled the markets. The secretary pushed back on the question. 'I'm not sure where that question comes from because President Trump has repeatedly said he's not going to fire Chair Powell,' Bessent said. 'He might like for him to resign, but he's not going to fire him. He's said that on numerous occasions, I think he may have even said it again yesterday.' The president said Tuesday he doesn't think Powell should resign before his term is up in May but bashed him for not lowering interest rates. 'I think he's doing a bad job, but he's going to be out soon anyway. In eight months, he'll be out,' the president said. Also, when pressed on the pressure campaign on the Fed chair to lower rates, Bessent said that's part of the role. 'I think anyone who goes into public service should expect pressure, I get pressure from the president, from the Congress, from constituents,' Bessent said. Trump last week indicated to Republicans during a meeting in the Oval Office that he plans to fire Powell, a senior White House official told The Hill, and markets quickly dipped, with the S&P 500 falling into the red. He said later that day it is 'highly unlikely,' but he doesn't 'rule out anything.' While he appeared to reach a breaking point with Powell, he has since backed off amid warnings about how such a move would impact the markets from officials and outside voices.
NBC News
a day ago
- Business
- NBC News
Live updates: Trump to deliver AI remarks; Obama blasts president over 'treason' accusations
The U.S. and China will resume trade talks next week, the treasury secretary said. President Donald Trump in the Oval Office of the White House on Monday. Yuri Gripas / Abaca / Bloomberg via Getty Images Updated July 23, 2025, 8:17 AM EDT Any country "who doesn't have a deal by Aug. 1 will go back to the April 2 tariff level, but that doesn't mean we can't keep negotiating," Treasury Secretary Scott Bessent said this morning on MSNBC. Asked specifically about a deal with China, which Trump has set a later deadline of Aug. 12 to resolve, Bessent said "we have a series of deals with China" on rare earth minerals. However, a full-fledged trade deal with China remains elusive. Rare earth minerals are critical for the manufacture of everything from electric vehicles to smartphones. Treasury Secretary Scott Bessent said in an interview on MSNBC's "Morning Joe" that Trump has no plans to fire Federal Reserve Chair Jerome Powell. Trump has attacked Powell at an unrelenting pace for months. As recently as last night, Trump said Powell was "terrible, terrible" and told lawmakers gathered at the White House for a reception that Powell was "either evil or stupid." Asked if Trump's pressure campaign against Powell is fair, Bessent said "I think everyone's used to that. Chair Powell's been around a long time." Rep. Mike Lawler, R-N.Y., is skipping a bid for governor and will instead run for re-election after Trump urged him to do just that, which clears the field for one of Lawler's House colleagues if she chooses to run. Lawler made his announcement this morning in an interview with The New York Times and an appearance on Fox News, noting that "keeping the House majority is critical" and that his seat has been "determinative of control of the House" during recent elections. "I'm proud to run for re-election on my record and win next November and keep the House Republican majority," he said. Lawler been openly considering a gubernatorial bid for some time, but Trump endorsed him for re-election before Lawler publicly made up his mind. Rep. Elise Stefanik, R-N.Y., a Trump ally who had been tapped as his United Nations ambassador before that nomination was pulled amid concerns about the slim GOP majority in the House, is also weighing her own gubernatorial bid. Lawler's decision helps House Republicans who are defending a narrow majority next year, as they'll be able to rally behind the incumbent in a difficult district that then-Vice President Kamala Harris narrowly won in 2024. Stefanik responded to Lawler's decision by saying she'd announce her plans after the fall elections. Democratic Gov. Kathy Hochul is running for re-election and faces a primary challenge from her lieutenant governor, Antonio Delgado. Trump will deliver remarks this afternoon at an artificial intelligence summit in Washington, D.C., where he also is expected to sign executive orders, according to the White House. Members of his administration and tech industry leaders are expected to attend the half-day event, which is being hosted by the All‑In podcast and the Hill & Valley Forum, according to a news release from the group. The U.S. and China will resume trade talks in Sweden on Monday and Tuesday, Treasury Secretary Scott Bessent said, adding that the Aug. 12 deadline for negotiating a deal is likely to be extended. 'I think trade is in a very good place with China,' Bessent, who will lead the U.S. delegation in Stockholm along with Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, said yesterday on Fox Business. Sweden and China also confirmed the talks, which will continue to be led on the Chinese side by Vice Premier He Lifeng. Though there were few deliverables from previous rounds of talks in Geneva and London, China has eased export controls on strategically vital rare earth minerals and magnets, while the U.S. has lifted export controls on design software for semiconductor chips and allowed U.S. companies Nvidia and AMD to resume Chinese sales of advanced chips for use in developing artificial intelligence. Trump's sweeping tax cut and spending law known as the 'big beautiful bill' is expected to be a major issue in the 2026 midterm elections. But first, candidates for governor this year in Virginia and New Jersey are already testing how the measure plays on the campaign trail. Rep. Mikie Sherrill and former Rep. Abigail Spanberger, the Democratic nominees in New Jersey and Virginia, respectively, have warned about devastating impacts from looming cuts to social safety net programs such as Medicaid and the Supplemental Nutrition Assistance Program. Republicans are taking mixed approaches. In New Jersey, a high-tax state where affordability is a top issue, former Assemblyman Jack Ciattarelli and his allies are planning to go on offense, arguing that Sherrill voted to block critical tax cuts. Read the full story here. Former President Barack Obama's office issued a rare rebuke of Trump yesterday after the president accused his predecessor of having committed 'treason' and rigging the 2016 and 2020 elections. 'Out of respect for the office of the presidency, our office does not normally dignify the constant nonsense and misinformation flowing out of this White House with a response,' Obama spokesperson Patrick Rodenbush said. 'But these claims are outrageous enough to merit one. These bizarre allegations are ridiculous and a weak attempt at distraction.' Read the full story here.
Yahoo
3 days ago
- Politics
- Yahoo
'The story was a real gift': How the WSJ Epstein report only fueled Trump's base
The Wall Street Journal's report on a 2003 birthday letter from Donald Trump to Jeffrey Epstein may have backfired. The Morning Joe panel discuss, with The New York Times' Jeremy Peters pointing out that report is being used by Trump to galvanize his base and stoke distrust in the media: 'The story was a real gift.'
