US News
LAST UPDATE: June 26, 2025
Trump Considers Naming Next Fed Chair Early in Bid to Undermine Powell
President Trump is weighing an expedited announcement in summer or fall 2025 for Jerome Powell’s successor, aiming to influence monetary policy ahead of the traditional timetable. Potential candidates include Kevin Warsh, Scott Bessent, Kevin Hassett, David Malpass, and Christopher Waller (wsj.com).
Insight
This marks an aggressive political effort to reshape the Federal Reserve’s trajectory. Announcing a successor early might sway markets and policy, but risks enflaming institutional backlash and sparking debate over central bank independence.
Trump wants more drones and missiles, fewer F-35s in $893 billion budget request
In the proposed $892.6 billion FY 2026 defense budget, Trump plans to cut F‑35 procurement (from 68 to 47), reallocate funds toward drones, advanced missiles, and a 3.8% troop pay raise, while reducing Navy civilian jobs and older equipment .
Insight
The shift underscores a strategic reorientation toward drone/missile warfare reflecting recent conflict lessons (like Ukraine). It also signals a reprioritization of defense spending and further alignment with Indo-Pacific deterrence goals.
US Extends Debt-Limit Special-Measures Period Through July 24
Treasury Secretary Scott Bessent announced an extension until July 24, 2025 for special accounting procedures that avert surpassing the statutory debt ceiling .
Insight
This window provides Congress additional time to negotiate a debt ceiling deal. The move eases near-term default risk but also signals limited breathing space, making timely fiscal resolution essential.
