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34
Middle East Israel Launches Massive Gaza Strikes Ahead of Major Offensive
Palestinians do not want to live in peace with Israel though . They will keep attacking Israel until Israel no longer exists Israel will always be at war as long as Palestineians live on the land -
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USA Trump's Shock Move: Fed Governor Lisa Cook Axed in Sudden Purge
Picture courtesy of BBC | Reuters US President Donald Trump has abruptly removed Federal Reserve Governor Lisa Cook from her position, igniting a storm in the financial world. In a surprise announcement on his social media platform, Trump revealed he has terminated Cook's employment, citing alleged false statements on mortgage agreements as the reason. Trump's letter to Cook claims she made inconsistent statements regarding her primary residence in different mortgage documents, a move he says justifies her dismissal. Both Cook and the Federal Reserve have yet to publicly respond to this startling development, which took the financial community by surprise late on Monday. For weeks, Trump has ramped up pressure on the Fed and its chair, Jerome Powell, pushing for a reduction in interest rates. The dismissal of Cook, the first African American woman to serve on the board, is viewed as an extraordinary step in the Fed's 111-year history, raising questions about the limits of presidential power over the central bank. Legal experts are currently considering the consequences of this drastic action. The White House may need to defend its decision in court by proving that the reasons for Cook’s firing are legitimate. Trump's public accusations include claims that Cook signed conflicting documents about her residency, suggesting potential mortgage fraud. The saga began when Bill Pulte, a Trump ally in housing finance, flagged the allegations in a public letter to Attorney General Pam Bondi. Pulte urged a criminal investigation into Cook’s mortgage dealings. It remains unclear if any formal investigation is underway, but the tension surrounding this issue is palpable. Cook, addressing the allegations last week, stated that she learnt about them through the media. SHe argues that the issue pertains to a mortgage application submitted before she worked at the Federal Reserve. Her statement decried the attempt to force her resignation, signalling her intent to provide evidence and defend her credibility. If Cook challenges Trump's decision, it could lead to a significant confrontation between the central bank and the presidency. The Federal Reserve has operated independently from the US government since 1951, but this incident could test the boundaries of that independence. Adding to the drama, Trump has openly criticised Powell, using colourful language to express his displeasure with the Fed's interest rate policies. Trump has long argued for large cuts to borrowing rates, clashing with Powell's more cautious approach. Despite the president's frustration, Powell has recently suggested that a reduction in interest rates might be on the horizon. At a major central banking conference in Jackson Hole, Wyoming, Powell hinted at possible rate cuts in September while downplaying the lasting inflationary effects of Trump’s tariffs. This turmoil arises during ongoing tensions between the White House and the Federal Reserve, as Trump's aggressive stance on interest rates represents a significant departure from traditional presidential conduct. The unprecedented removal of a Fed governor raises concern over the stability of financial governance. As the fallout from Trump's bold move unfolds, the financial world is watching closely. This development not only puts the independence of the Federal Reserve under scrutiny but also sets the stage for potential legal battles and political strife. The coming days will reveal how this power struggle impacts the US financial system and international markets. Adapted by ASEAN Now from BBC 2025-08-26 -
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Report France Summons US Ambassador: Fury Over Antisemitism Claims
That is a myth that the French have promoted as the reality is a searing indictment of their nation. Yes, some French acted responsibly. Unfortunately, if all the people who said they were in the resistance actually were in the resistance, the Germans would not have have had an easy time occupying France. The Germans did not deport the French jews. Rather it was the French who did so with great gusto. Quite a difference from the heroic and brave Danish and Dutch people. -
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USA Trump Slams Baltimore 'Crime Mess', Threatens Bridge Funding Cut
Baltimore, D.C, New York, Chicago, L.A. What do these cities have in common? Hmm, would it be that they all have black mayors? Coincidence? Me thinks not. And it’s funny how just less than 3 months ago Trump was begging everyone to please come to his silly military parade and claimed that crime was down 25% in DC and that is was ‘very safe’. -
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Transport Chiang Rai Airport Expansion: Aiming for Aviation Hub Status
The hub of mountain fog... -
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Crime Actress Gets 2 Months Suspended Sentence for Drink-Driving
Norway fine you 1month salary, 30 days jail and loose licence 2 years, then have to take new test (with its costs). See the difference ? 😉
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