Warren Criticizes DoJ for Dropping Powell Investigation to Favor Warsh
Elizabeth Warren, the leading Democrat on the Senate Banking Committee, responded to the Justice Department's decision to end its investigation into Federal Reserve Chair Jerome Powell, labeling it as "bogus."
"This is just an attempt to clear the path for Senate to install President Trump’s sock puppet Kevin Warsh as Fed Chair," Warren said in a statement.
The Massachusetts Democrat also highlighted that Jeanine Pirro has threatened to resume the inquiry at any time and has not ceased investigations into Lisa Cook, a Federal Reserve Governor whose attempted dismissal has reached the Supreme Court.
"Anyone who believes Donald Trump’s corrupt scheme to take over the Fed is over is fooling themselves. The Senate should not proceed with the nomination of Kevin Warsh," Warren added.
White House spokesperson Kush Desai stated that the Federal Reserve Inspector General is best positioned to investigate the Federal Reserve’s fiscal mismanagement.
"The administration remains confident as before that the Senate will swiftly confirm Kevin Warsh as the next Federal Reserve chair," Desai said.
President Trump had previously accused Powell of mismanaging the central bank’s renovation project, claiming it cost $4 billion and was significantly over budget.
The investigation into Powell threatened to delay Trump’s nominee, Kevin Warsh, whose confirmation is pending as Powell’s term ends on May 15.
Senator Thom Tillis, the outgoing Republican from North Carolina, had threatened to withhold his deciding vote for Warsh’s confirmation while the investigation continued.
During Warsh’s confirmation hearing before the Senate Banking Committee earlier this week, Tillis urged the Justice Department to terminate the investigation into Powell to secure his support for Warsh, whom he described as having "extraordinary credentials."
Justice Department Ends Criminal Probe into Jerome Powell
The Justice Department announced it is closing its criminal investigation into Federal Reserve Chair Jerome Powell and his oversight of the central bank’s renovation project.
Jeanine Pirro, U.S. Attorney for the District of Columbia, stated she directed her office to close the probe, citing that the Federal Reserve Inspector General, an independent watchdog, will scrutinize the billions of dollars in cost overruns borne by taxpayers.
"I will not hesitate to restart the investigation should the facts warrant doing so," Pirro said.
Additional News Highlights
In other news, Iran’s Foreign Minister Abbas Araqchi is scheduled to begin a trip on Friday to Islamabad, Muscat, and Moscow, according to Iranian state media. This follows the indefinite postponement of planned talks earlier this week, as U.S. Vice President JD Vance prepared to travel to Pakistan. Tehran has not indicated when negotiations with Washington will resume.
Dozens of protesters, including members of Congress, gathered along the National Mall on Thursday to protest a dinner hosted by Paramount Skydance’s CEO David Ellison, which celebrated the First Amendment and honored the Trump White House and CBS White House correspondents.
The event has drawn criticism for illustrating the close relationship between the Ellison family and the White House, especially as the Trump administration considers approving Paramount’s $110 billion merger with CNN parent company Warner Bros. Discovery (WBD). The dinner precedes an event attended by President Trump and Defense Secretary Pete Hegseth, who is expected to sit at a table purchased by CBS News.
Earlier on Thursday, WBD shareholders overwhelmingly approved the merger, which still requires approval from the Department of Justice and European regulators.
U.S. Representative Jamie Raskin, a vocal critic of the Ellisons’ ownership of CBS News, described the dinner as "a lavish oligarch’s dinner for Donald Trump."
"We’re gathered here together tonight [because] in the building behind us, David Ellison is hosting a dinner to honor President Trump, a dinner that’s designed to cement the Ellisons to the president in their years-running corrupt merger scheme," Raskin said.
Speakers at the protest encouraged attendees not to lose hope in blocking the merger, with many antitrust experts viewing a lawsuit from a coalition of state attorneys general as the most likely means to challenge it.
Norm Eisen, founder of Democracy Defenders Action, criticized the dinner, saying it resembled "a celebration of the First Amendment the same way a book burning is a celebration of the written word." He added, "That has nothing to do with celebrating the First Amendment. You all are celebrating the First Amendment by being here to block the merger."
Defense Secretary Pete Hegseth Comments on Iran Conflict and U.S. Alliances
When asked about Pope Leo XIV’s condemnation of the war in Iran and comments from the U.S. Conference of Catholic Bishops suggesting the conflict is not a "just war," Defense Secretary Pete Hegseth responded that the pope was "going to do his thing."
"We know what our mission is," Hegseth said. "We follow the orders of the president. We’ve got lawyers all over the place looking at what we’re doing and why we’re doing it, and giving us every authority necessary under the constitution and under our laws to execute it."
During remarks at the Pentagon, Hegseth noted that "Europe and Asia have benefited from our protection for decades, but the time for free riding is over."
A leaked Pentagon internal email proposed reassessing U.S. support for Britain’s claim to the Falkland Islands due to the UK’s insufficient assistance during the American bombing campaign. The memo also suggested suspending Spain from NATO for refusing to allow U.S. warplanes to be based in or fly over the country during Operation Epic Fury, though mechanisms for such actions remain unclear.
"Being an ally is not a one-way street. It’s a two-way street. We are not counting on Europe, but they need the Strait of Hormuz much more than we do," Hegseth told reporters. He called on European leaders to have "less fancy conferences" and "get in a boat."
Hegseth Declares U.S. Control Over Strait of Hormuz Amid Iran Tensions
At a press conference, Defense Secretary Pete Hegseth reiterated America’s military successes and stated that Iran has an opportunity to negotiate a "good deal."
"The blockade in the Strait of Hormuz is growing and has gone global," he said, referencing the seizure of two Iranian dark fleet vessels. "We are in control; nothing in, nothing out."
Hegseth reported that 34 ships have been turned away from the strait so far, repeating previous statements about the Iranian navy being "sitting at the bottom of the sea" and praising President Donald Trump’s "fortitude."
President Trump is scheduled to begin his day in Washington with White House meetings before traveling to Mar-a-Lago around 3 p.m. ET. The White House announced a 90-day extension to the Jones Act waiver, facilitating non-American vessels transporting oil and natural gas following the Iran conflict.
The initial 60-day waiver was announced in mid-March and has helped stabilize energy prices and increase shipping to the U.S. after the effective closure of the Strait of Hormuz.
"New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach US ports faster," a White House press aide said on social media.
Trump Threatens Tariffs Over UK Digital Services Tax
President Trump threatened to impose "a big tariff" on the United Kingdom if it does not repeal its digital services tax on U.S. social media companies.
Speaking from the Oval Office, Trump said:
"We’ve been looking at it and we can meet that very easily by just putting a big tariff on the UK, so they better be careful. If they don’t drop the tax, we’ll probably put a big tariff on the UK."
The tax, introduced in 2020, imposes a 2% levy on revenues of several large U.S. tech firms with worldwide digital revenues exceeding £500 million ($673 million) and more than £25 million from UK users. While it raises more revenue than most targeted companies pay in UK corporation tax, companies such as Amazon, Facebook, and Apple pass the tax onto third-party businesses and sellers using their platforms.
Trump Administration Targets Foreign Tech Firms Exploiting U.S. AI
The White House is intensifying efforts to curb foreign technology companies, particularly those based in China, from exploiting U.S. artificial intelligence models.
In a memo, Michael Kratsios, the president’s chief science and technology adviser, accused foreign entities of conducting industrial-scale campaigns to extract capabilities from leading U.S. AI systems.
"The administration will work with American AI companies to identify such activities, build defenses, and find ways to punish offenders," Kratsios wrote.
This initiative comes as China narrows the AI performance gap with the U.S., with a recent Stanford University report indicating the gap in top AI models has "effectively closed." China’s embassy in Washington condemned what it called "unjustified suppression of Chinese companies by the US."
Pentagon Email Proposes Sanctions on NATO Allies Over Iran War Support
An internal Pentagon email outlines options to penalize NATO allies perceived as unsupportive of U.S. operations in the Iran conflict, including suspending Spain from the alliance and reviewing U.S. support for Britain’s Falkland Islands claim.
The email expresses frustration over some allies’ reluctance or refusal to grant the U.S. access, basing, and overflight rights (ABO) for the Iran war. The options are reportedly circulating at high levels within the Pentagon.
One suggestion includes suspending "difficult" countries from prestigious NATO positions.
Poll Finds 77% of Voters Hold Trump Responsible for Rising Gas Prices
A /Ipsos poll reveals that 77% of registered voters blame President Trump for surging gasoline prices, which pose challenges for the Republican Party ahead of the November midterm elections.
The sentiment spans political affiliations, with 55% of Republicans, 82% of independents, and 95% of Democrats attributing responsibility to Trump for the price increases, which followed his decision to engage in a war on Iran alongside U.S. ally Israel.
Furthermore, 58% of voters, including 20% of Republicans and two-thirds of independents, indicated they would be less likely to support candidates endorsing Trump’s approach to the Iran conflict in the upcoming midterms.
Justice Department Watchdog to Review Epstein Files Release
The Justice Department’s Office of Inspector General will investigate the agency’s handling of records related to financier Jeffrey Epstein, focusing on whether all relevant documents were disclosed and properly redacted.
William Blier, acting head of the office, said the inquiry will assess compliance with the Epstein Files Transparency Act, passed by Congress in November, which mandates public release of Epstein-related records with limited exceptions.
"Our preliminary objective is to evaluate the DOJ’s processes for identifying, redacting, and releasing records in its possession as required by the Act," Blier said.
The office will also examine the DOJ’s procedures for addressing concerns arising after the release of documents.
President Trump, who previously dismissed Epstein-related controversy as a "hoax" driven by Democrats, initially opposed the legislation but later signed it amid Republican pressure.
The DOJ released approximately 3.5 million pages of documents related to Epstein investigations, though the release occurred more than a month after the statutory deadline.
Alleged victims have criticized the DOJ for failing to adequately redact photos and details that could reveal their identities and for not disclosing all information about Epstein associates who were allegedly complicit but never charged. Lawmakers have echoed these concerns, suspecting that some relevant documents remain unreleased.
Additional Developments
The Trump administration has moved to reclassify marijuana more than four months after Trump signed an executive order directing the Attorney General to reschedule it from Schedule I to Schedule III under the Controlled Substances Act.
Trump, abandoning his earlier strategy to pressure Iran’s leaders into negotiations through threats, ruled out the use of nuclear weapons in the conflict with Iran.
According to the Washington Post, Trump plans to invite wanted war criminal Vladimir Putin to the G20 summit in December at Trump’s Doral golf resort.
Trump confirmed the government is considering a plan to bail out or "just buy" Spirit Airlines but confused Barack Obama with Joe Biden and JetBlue with People Express, a defunct airline since 1987.
India’s Foreign Ministry condemned comments from right-wing U.S. commentator Michael Savage, amplified by Trump, opposing birthright citizenship for U.S.-born children of immigrants from countries such as China and India.
