Trump proposes dismissing Federal Reserve Governor Lisa Cook, attempting to elevate the decision to the Supreme Court.
Israel's Finance Minister is currently in negotiations with the US regarding the division of Gaza, aiming to find a peaceful resolution.
In the US, the Supreme Court, with a conservative majority of 6 to 3 members, has been the subject of political debate. Recently, President Trump fired Federal Reserve Governor Lisa Cook following a criminal complaint that alleged she falsely declared properties in Michigan and Georgia as primary residences within weeks of each other in 2021, and also declared a third property as a second residence. The president's decision to remove Cook, an independent institution member according to federal law, has been met with criticism as it goes against the law that prevents removal without cause. The Department of Justice has appealed to the Supreme Court to prevent Cook from continuing in her position while a mortgage fraud case is evaluated. If removed, Cook would be unable to intervene in the Federal Open Market Committee.
In a positive development, the confirmation of the new Fed governor nominated by President Trump, Stephen Miran, by the US Senate took less than six weeks. This is faster than usual, as such procedures typically take months. The confirmation vote was narrow, and after formal approval, Miran is expected to be sworn in promptly. Miran replaces Adriana Kugler on the Federal Open Market Committee and has advocated for a broader cut of half a point in mortgage rates.
Meanwhile, the Federal Reserve recently lowered interest rates by 25 basis points in a meeting, a move that may stimulate economic growth. The president has been vocal about his dissatisfaction with the Fed for not lowering mortgage rates faster.
Russia's Defence Minister, Shoigu, announced that Russia is ready to supply its 'most modern' weapons to Iraq.
Israel claims to have developed a laser weapon capable of intercepting missiles and drones, a potential game-changer in defence technology.
No recent information is available regarding the suspension of Jimmy Kimmel's show on ABC.
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