Senate to Vote on Limiting Trump's Iran War Powers
The US Senate, led by Democratic Leader Chuck Schumer, is set to vote next week on a resolution aimed at limiting President Donald Trump's war powers regarding Iran, following a two-week ceasefire announced by Trump. Schumer criticized the ongoing conflict, which has lasted 39 days and cost $44 billion, stating that it has failed to weaken the Iranian regime or curb its nuclear ambitions, while also driving up domestic gas prices. He emphasized the need for Congress to reassert its authority in military matters during this precarious time.
Federal Reserve Signals Possible Interest Rate Hikes Ahead
Minutes from the Federal Reserve's March 17-18 meeting revealed a growing consensus among policymakers that interest rate hikes may be necessary to address inflation exceeding the central bank's 2 percent target, particularly due to the inflationary effects of the ongoing U.S.-Israeli war with Iran. While the Fed maintained its benchmark interest rate at 3.50 percent to 3.75 percent, many participants acknowledged heightened risks of prolonged inflation and indicated that future rate decisions could include both increases and cuts, depending on economic conditions.
FCC to Vote on Expanded Ban of Chinese Labs
The Federal Communications Commission (FCC) will vote on April 30 on a proposal to prohibit all Chinese laboratories from testing electronic devices intended for the U.S. market, expanding a previous ban that affected 23 labs owned or controlled by the Chinese government. Currently, approximately 75% of all electronics are tested in China, and the FCC aims to streamline the approval process for devices tested in U.S. labs or those from countries not posing national security risks. This proposal is part of a broader effort by Washington to address technology-related national security concerns regarding China.
Trump administration proposes rule to protect bank accounts
The Trump administration has proposed a new rule aimed at preventing banks from closing accounts for political reasons, addressing concerns about 'reputational risk' in the banking sector. This move comes as part of broader efforts to ensure that financial institutions maintain neutrality in political matters.
Architect pleads guilty to eight murders including Gilgo Beach
Rex Heuermann, a 62-year-old architect from Long Island, pleaded guilty in Suffolk County Court to the murders of eight women, including seven linked to the Gilgo Beach killings dating back to 1993. Heuermann admitted to strangling the victims and disposing of their bodies in various locations, including Gilgo Beach, and is expected to receive a sentence of life in prison without parole on June 17.
