US News
LAST UPDATE: August 27, 2025
Bessent says US tariff revenue could be well over $500 billion a year
U.S. Treasury Secretary Scott Bessent reported that tariffs under the Trump administration could bring in over $500 billion annually, possibly approaching $1 trillion if current trends hold.
Insight
Tariff revenue is emerging as a major fiscal pillar amid increased collections.
Trump Says He’s Prepared for Fight Over Cook’s Ouster From Fed
President Trump indicated readiness for a legal battle after attempting to remove Fed Governor Lisa Cook over alleged mortgage misrepresentations.
Insight
The clash highlights the unprecedented politicization of the Fed, raising concerns over institutional independence and legal precedent.
Trump Weighs Quickly Announcing Nominee to Replace Lisa Cook on Fed Board
Trump is considering rapidly nominating Stephen Miran or David Malpass to replace Lisa Cook, aiming to shift the Fed’s ideological balance.
Insight
Moving quickly on a replacement underscores Trump’s urgency to reshape the Fed and assert influence over monetary policy direction.
FACTBOX–Fed Governor Cook’s mortgages: What’s known and what’s not
Overview of the public facts and uncertainties around Cook’s mortgage applications, including multiple properties claimed as primary residences under contested conditions.
Insight
The mortgage dispute has become a key justification for Cook’s ouster, raising questions about ethics standards and due process in Fed governance.
Senate Panel Prepares to Hold Hearing on Trump’s Fed Pick
The Senate Banking Committee will hold a hearing on Trump’s nomination of Stephen Miran to the Federal Reserve, potentially shifting monetary policy direction.
Insight
The hearing signals looming political battles over Fed independence and economic strategy, with markets watching closely for outcomes.
Trump administration asks US Supreme Court to halt foreign aid payments
The administration requested the U.S. Supreme Court to lift an injunction that compels continued foreign aid payments, arguing such decisions fall under executive authority.
Insight
This reflects Trump’s attempt to reassert executive control over foreign aid, potentially setting a precedent for limits on judicial oversight.
ICE Has Fined Immigrants $6 Billion. Now It’s Coming to Collect.
Since Trump’s return, DHS issued $6.1 billion in fines to more than 21,000 immigrants, with collection efforts including lawsuits, wage garnishments, and credit bureau actions.
Insight
Aggressive collection raises legal and humanitarian concerns, as critics argue the fines are excessive and could destabilize vulnerable immigrant communities.
