Trump Swears In Kevin Warsh As Fed Chair
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday, following Warsh's confirmation in a near party-line vote on May 13. Warsh, who previously served as a Fed governor from 2006 to 2011, will take over from Jerome Powell and is expected to prioritize lowering interest rates amid ongoing inflation concerns linked to Trump's policies. His appointment comes as Fed policymakers consider potential rate hikes to address inflation exceeding the central bank's 2% target.
Senate Republicans Delay Vote on Immigration Funding Bill
Senate Republicans left Washington without voting on a $70 billion immigration enforcement funding bill, missing President Donald Trump's June 1 deadline. The decision followed frustrations over a proposed $1.776 billion settlement fund for Trump allies, which some GOP senators opposed due to concerns it could benefit individuals involved in the January 6 Capitol attack. Senate Majority Leader John Thune indicated that discussions with Acting Attorney General Todd Blanche heightened tensions, leading to the postponement of the vote until after the Memorial Day recess.
Sarah Kellen Testifies on Epstein's Abuse Network
Sarah Kellen, former assistant to Jeffrey Epstein, testified before the House Oversight Committee, describing over a decade of sexual and psychological abuse by the late financier. Kellen, who claimed she was manipulated and controlled from a young age, provided what House Oversight Committee Chairman James Comer, R-Ky., called the most substantive testimony to date, including the names of three individuals allegedly involved in Epstein's abuse network. Kellen, who has faced scrutiny as a potential co-conspirator, denied any complicity in Epstein's crimes, asserting her status as a victim.
Bipartisan Bill Seeks to Eliminate Anti-Weaponization Fund
Representatives Brian Fitzpatrick (R-Pa.) and Tom Suozzi (D-N.Y.) have introduced the Bipartisan Transparency for American Taxpayers Act to eliminate the $1.8 billion Anti-Weaponization Fund established by the Justice Department, which they argue lacks congressional oversight and transparency. The fund, announced on May 18, 2026, is intended to compensate claims related to a settlement between President Donald Trump and the IRS, prompting concerns from Fitzpatrick about its legal authority and potential misuse of taxpayer dollars.
