US Congress races to renew surveillance law amid Senate delays
The US House of Representatives has passed a renewal of a key surveillance law after overcoming a right-wing revolt within the Republican ranks.The legislation aims to extend provisions that are set to expire on Friday.Despite the House approval, the renewal faces potential delays in the Senate due to proposed changes that could push the final passage beyond the expiration date.The immediate fact is that the House successfully approved the renewal measure, but the Senate has yet to finalize its version.Republicans in the House managed to suppress dissent from the right wing to secure the vote.However, the Senate's modifications introduce uncertainty... [Continue Reading]
360LiveNews | 29 Apr 2026 23:34 LONDON
Jerome Powell to Remain on Federal Reserve Board After Chair Term Ends
Jerome Powell has announced he will remain on the Federal Reserve's governing board after his term as chair ends next month.This decision comes amid what Powell described as unprecedented legal attacks from the Trump administration against the central bank.Powell stated he plans to stay on the board for an undetermined period, potentially until January 2028.By doing so, he prevents President Donald Trump from appointing a new member to the Fed's seven-member board.The announcement followed the Federal Reserve's decision to keep benchmark interest rates steady at 3.5 to 3.75 percent amid ongoing inflation concerns and global economic pressures.The Fed's recent policy... [Continue Reading]
360LiveNews | 29 Apr 2026 21:01 LONDON
US Justice Department drops investigation into Fed Chair Jerome Powell
The US Justice Department has officially ended its investigation into Federal Reserve Chairman Jerome Powell concerning the organisation's extensive building renovations.This decision was announced after prosecutors acknowledged that no evidence of criminal activity had been found.The inquiry focused on a $2.5 billion renovation project at the Federal Reserve, which had drawn criticism for cost overruns.The investigation was seen as a pressure tactic by the Trump administration to influence Federal Reserve policy, particularly regarding short-term interest rates.The closure of the probe removes a significant obstacle to the confirmation of Kevin Warsh, President Trump's nominee to succeed Powell as Federal Reserve Chair.Warsh's... [Continue Reading]
360LiveNews | 25 Apr 2026 03:00 LONDON
US Justice Department Ends Criminal Probe of Fed Chair Jerome Powell
The US Justice Department has officially ended its criminal investigation into Federal Reserve Chair Jerome Powell concerning cost overruns in the central bank's building renovations.This decision removes a significant obstacle to the Senate confirmation of Powell's nominated successor, Kevin Warsh.US Attorney for the District of Columbia Jeannine Pirro announced that her office would cease its probe and instead refer the matter to the Federal Reserve's Office of Inspector General for further scrutiny.Pirro emphasized that the inspector general has the authority to hold the Federal Reserve accountable to taxpayers and expects a comprehensive report soon.The investigation had been part of a... [Continue Reading]
360LiveNews | 24 Apr 2026 18:01 LONDON
US Senate advances GOP plan to boost ICE funding amid vote marathon
The US Senate has advanced a Republican-led budget plan that includes a $70 billion increase in funding for immigration enforcement.This development occurred during an overnight marathon voting session.Republicans successfully overcame Democratic attempts to introduce amendments aimed at reducing the overall costs of the plan.The vote is part of broader budget negotiations marked by significant partisan conflict.The increased funding targets Immigration and Customs Enforcement (ICE), reflecting ongoing debates over immigration policy and enforcement priorities.The Senate's decision highlights the continuing political divide on immigration issues in the United States.It remains unclear how the increased funding will be allocated in detail or how... [Continue Reading]
360LiveNews | 23 Apr 2026 07:01 LONDON
