🗞️Trump’s interest rate drama

...also U.S. peace proposal and Instagram's new "Edits" app

April 23, 2025

April 23rd, 2025

What happened today 🇺🇸,

Trump says he has 'no intention' of firing Fed Chair Powell

Powell, whom Trump appointed Fed chair during his first term as president, has flatly stated that the president cannot remove him under the law.

www.cnbc.com/amp/2025/04/22/trump-says-he-has-no-intention-of-firing-fed-chair-powell.html

  • President Trump said he has "no intention" of firing Federal Reserve Chair Jerome Powell before his term ends next year but did say he may call him because he feels interest rates have been too high

  • VP Vance said the U.S. has issued a “very explicit proposal” to Russia and Ukraine on a path forward to a peace deal and that territory concessions are needed…read more about it here

  • Elon Musk and Treasury Secretary Scott Bessent got into a loud, heated shouting match in the White House, it was witnessed by President Trump and senior officials and was over who should lead the IRS…read more about it here

  • Senator Dick Durbin (D-IL), has announced that he will not seek re-election in 2026…he has been in the Senate since 1996

  • Instagram has officially launched "Edits“ app which is a new free video creation app designed specifically for creators, offering enhanced tools for producing and sharing video content

  • Intel is cutting 20% of its workforce which will be over 21,000 people

  • The richest half of American families owns about 97.5% of the national wealth, while the bottom half holds only 2.5%, per Bloomberg

  • DOW up 1.07% / S&P up 1.67%

  • The European Union has fined Apple and Meta a combined $800 million in the first enforcement of its landmark Digital Markets Act

  • Palestinian Authority President, Mahmoud Abbas, has called Hamas “sons of dogs,” and demanded the release of the remaining Israeli hostages and disarmament in order to find peace and end the war

Plus: Which states have legalized marijuana

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