USPolitics

Tensions between the White House and the Federal Reserve are escalating. Fed Governor Lisa Cook told the U.S. Supreme Court that if President Donald Trump were allowed to remove her, it would trigger a collapse of financial markets and cause irreparable damage to the independence of the U.S. central bank.

Dispute Over Mortgage Fraud Allegations
Trump’s team is pushing to oust Cook over alleged irregularities in her mortgage applications. Her lawyers argue that the accusations are legally insufficient and do not meet the statutory standards under the Federal Reserve Act. In a Thursday filing, they warned that her immediate dismissal could spark “chaos and legal uncertainty,” potentially leading to a scenario in which two different candidates compete for the same Fed seat at the same time.
The Department of Justice already petitioned on September 18 for the Supreme Court to overturn a lower court decision that blocked Trump from acting. Yet two lower courts — Judge Jia Cobb and later the D.C. Court of Appeals — upheld the block, ruling that the White House’s case did not meet the legal threshold.

Warnings from Former Fed Chairs and Treasury Officials
Prominent economists have joined the defense of Cook’s position. Former Fed Chairs Ben Bernanke, Alan Greenspan, and Janet Yellen issued a joint letter warning that removing Cook would set a historic precedent and seriously undermine public trust in the Fed’s independence. The letter was also signed by former Treasury Secretaries Larry Summers, Robert Rubin, Jacob Lew, and Henry Paulson, as well as former IMF chief economist Kenneth Rogoff.
They emphasized that allowing the removal of a sitting member of the Board of Governors would turn the Fed into a political tool and jeopardize the long-term stability of the U.S. economy.

Trump Pushes Case Directly to the Supreme Court
Despite previous rulings, Trump’s legal team bypassed the usual process and escalated the dispute straight to the Supreme Court. Their goal is to have the block lifted immediately, so that Cook can be removed even before the full case is heard. Her legal team has warned this could create an absurd situation in which Trump nominates a replacement while Cook is still officially in her position.

Cook Continues Her Work
In spite of mounting political pressure, Lisa Cook continues to perform her duties at the Fed. At the most recent meeting, she voted in favor of a 25 basis point interest rate cut. She has made it clear that she will not step down voluntarily and has no intention of resigning from her role.

#LisaCook , #Fed , #TRUMP ,#USPolitics , #economy

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massive job cuts if shutdown occurs
- *Deadline*: September 30, 11:59 PM - Congress must finalize budget

*Democrats' Response* 👊:
- *Schumer*: "Trump's threat is intimidation, not leadership"
- *Kogan*: "Pure blackmail" - doing what Trump wants or damaging the country

*Countdown Begins* ⏰:
- *Tense Standoff*: Trump's tactics spark debate and uncertainty
- *Potential Consequences*: Government shutdown could have far-reaching impacts

#GovernmentShutdown #TrumpWarning #USPolitics #BudgetDeadline #CryptoMarketImpact

Agreement at $0.42 Per Agency
U.S. President Donald Trump has approved a new government contract with Elon Musk’s xAI, giving federal agencies access to the company’s artificial intelligence models Grok 4 and Grok 4 Fast through the OneGov program for a symbolic $0.42 per agency over an 18-month period.
According to the General Services Administration (GSA), this is the longest-running AI agreement the federal government has ever signed. The pricing is locked in until March 2027 and includes not only access to the software but also dedicated xAI engineering teams to help integrate Grok into federal systems.
“Broad access to advanced AI models is essential for building the efficient and accountable government that American taxpayers deserve – and for fulfilling President Trump’s promise that the U.S. will win the global AI race,” said Josh Gruenbaum, head of the Federal Acquisition Office.

Symbolic Trump–Musk Reunion
The timing of the deal is notable. Just days before the announcement, Trump and Musk were spotted together in public for the first time since their much-publicized split – at the funeral of Charlie Kirk in Glendale, Arizona. The two shook hands and briefly exchanged words in front of tens of thousands of attendees.
The White House even released a video of the meeting on X, the platform owned by Musk. Considering Musk’s more than $270 million investment in Trump’s campaign, the timing of this AI contract has raised eyebrows.

Grok as a Government Tool
Under the new agreement, every federal agency will gain access to xAI’s most powerful reasoning models. These are intended to speed up workflows, streamline bureaucracy, and improve responsiveness to challenges.
“xAI has the most powerful AI compute resources and models in the world,” Musk said. “Thanks to President Trump, this frontier AI is now unlocked for every federal agency.”
Co-founder Ross Norden emphasized that the deal is more than just about software: “Grok for Government will deliver transformative AI functions for just $0.42 per agency over 18 months, backed by dedicated technical teams to ensure mission success.”
The contract also includes plans for future versions meeting FedRAMP and DoD Impact Level standards, along with training, security support, and long-term integration planning.

AI as a Pillar of Trump’s Agenda
The OneGov program, which anchors the agreement, is designed to cut bureaucracy and speed up access to competitive AI services. It aligns directly with Trump’s AI Action Plan, which seeks to modernize federal agencies.
“Access to AI tools is essential to delivering on President Trump’s priority of modernizing the federal government,” the White House stated in an official briefing. The deal takes effect immediately, and Grok tools are now available through standard government procurement channels.

#TRUMP , #ElonMusk , #XAI , #USPolitics , #ArtificialInteligence

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Ken Griffin, billionaire and CEO of hedge fund giant Citadel, launched a sharp attack on the Trump administration. In a live CNBC interview in Miami, he said deals between the White House and corporate giants like Apple are “anti-American” and create a dangerous precedent where the government picks winners and losers.
“This is not the American story,” Griffin stressed. “If the government starts favoring the big and well-connected, in the end, we all lose.”

Apple in the Spotlight
Griffin said it’s unacceptable that Apple escaped a planned 100% tariff on semiconductors in exchange for pledging an additional $100 billion investment into U.S. suppliers—on top of an already promised $500 billion.
Apple CEO Tim Cook framed the investments as part of a broader partnership with the White House and even gifted Trump a custom plaque with a golden base. Griffin dismissed it as blatant favoritism: “Are we really going to keep changing the rules just because someone knows the right politician?”

From Innovation to Lobbying
Griffin warned that such practices are reshaping the DNA of American business. Instead of driving innovation, companies are now incentivized to lobby for political favors.

“Innovation will no longer be the key skill,” Griffin said. “The real skill will be knowing how to get the right favors out of Washington.”
He pointed to Apple as a prime example—having already won exemptions during Trump’s first term amid trade talks with China, and now again reaping the benefits of political dealmaking.

“That’s Where the Crocodiles Live” – A Warning to Corporations
Griffin cautioned that today’s political favors could easily backfire once a new administration takes over.

“Companies are playing a dangerous game. The tables will eventually turn, and this will come back to bite them,” he warned. “The government should not be in the business of picking winners and losers. That’s where the crocodiles live.”
He also argued tariffs function as a “nationwide sales tax,” disproportionately hurting lower-income households that spend a greater share of their income on consumer goods.

Apple Still Shines on Wall Street
Despite Griffin’s harsh criticism, Apple’s stock continues to rise. This week, it became the last of the big-cap tech giants to turn positive for the year. Since January, its shares are up just over 1%, and in the past three months, Apple has gained more than 25%.
After Griffin’s comments, Apple’s stock slipped slightly during Thursday’s session but still trades well above the market average.

#Apple , #TRUMP , #Tariffs , #USPolitics , #economy

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Washington Seeks New CFTC Leadership
The confirmation of Brian Quintenz, Donald Trump’s original nominee for chair of the Commodity Futures Trading Commission (CFTC), has stalled — and the White House is now turning to fresh names. According to journalist Eleanor Terrett, two serious contenders are Jill Sommers and Kyle Hauptman, both known for their pro-crypto stance.

The Fall of Brian Quintenz
Quintenz, a former CFTC commissioner and current head of policy at a16z crypto, was initially welcomed as a seasoned insider. But his chances began to fade in July after reports surfaced that Tyler Winklevoss, co-founder of Gemini, personally asked Trump to halt the confirmation. The Winklevoss twins, major donors to Trump’s campaign, allegedly leveraged their influence, citing years of legal disputes their company faced under the Biden administration.
Quintenz tried to defend himself on social media, hinting that Trump may have been misled by lobbying pressure. Still, his nomination has lost momentum, prompting the White House to widen the shortlist.

New Faces: Sommers and Hauptman
Jill Sommers, who served as a CFTC commissioner between 2007 and 2013, is closely tied to former SEC chair Paul Atkins, with whom she worked at the consulting firm Patomak Global Partners. With her extensive regulatory background and strong Washington network, she is seen as a consensus candidate capable of bridging divides.
Kyle Hauptman, currently chair of the National Credit Union Administration (NCUA), also brings strong market experience. As a senior vice president at Jefferies, he traded U.S. Treasuries and futures, giving him both regulatory and Wall Street credentials.

Other Names in the Mix
Beyond Sommers and Hauptman, several other candidates are reportedly under review:
Mike Selig, SEC attorney and head of the agency’s crypto task forceTyler Williams, Treasury Department official and digital asset policy specialist, formerly with Galaxy DigitalJosh Sterling, partner at Milbank law firm and former CFTC official
Crypto Regulation at a Crossroads
The CFTC is in the spotlight as pending legislation could expand its oversight of cryptocurrency markets. The agency, however, urgently needs leadership following a wave of resignations this year.
In recent months, the CFTC has taken steps viewed as favorable to the industry, such as allowing foreign exchanges to serve U.S. clients under its “crypto sprint” initiative and exploring rules to permit spot crypto trading on registered futures exchanges.
A pro-crypto chair could accelerate this momentum. Yet critics warn of regulatory capture — where regulators become too closely aligned with the industries they oversee. Heavy lobbying and campaign contributions from crypto executives, they argue, raise real risks of conflicts of interest.

If the White House moves ahead with pro-crypto leadership at the CFTC, it could mark a turning point in U.S. digital asset regulation. But the line between innovation and industry influence may become dangerously blurred.

#CFTC , #CryptoRegulation , #whitehouse , #TRUMP , #USPolitics

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Congressional Stalemate Chokes Government and Markets
The United States is once again on the brink of a government shutdown – and this time, the consequences could hit financial markets harder than ever. With just days left to approve funding, Republicans and Democrats remain locked in yet another stalemate.
If the government shuts down, it won’t just mean missed paychecks for federal workers. What’s at stake is the functioning of the entire financial system.

No Data, Fed Left in the Dark
As Reuters reported, a shutdown would immediately halt the release of critical economic data – from inflation numbers to jobs reports. These are the very indicators that investors and the Federal Reserve rely on to understand what’s happening in the economy.
“The Fed may be flying blind,” warned analysts at Nomura, noting that without updated figures, the central bank might stick to its current outlook – two 25-basis-point rate cuts by the end of 2025 – without any certainty that this path reflects reality.

Trump’s White House Pushes for Layoffs
This week, President Donald Trump’s administration instructed federal agencies to prepare for mass layoffs, not just temporary furloughs. That marks a sharp departure from previous shutdowns. Observers see it either as political pressure aimed at forcing Democrats to accept the Republican budget or as part of Trump’s long-standing goal to shrink the federal workforce.
Some institutions – such as banking regulators and the Consumer Financial Protection Bureau (CFPB) – would remain operational, since they are not funded directly through congressional appropriations.

Regulators Nearly Paralyzed
If the shutdown takes effect, financial oversight would be thrown into crisis. The SEC’s contingency plan from last October envisions the vast majority of staff sent home, leaving only a skeleton crew to handle filings and maintain order in equity markets.
Similarly, the Commodity Futures Trading Commission (CFTC) would lose nearly all of its staff, halting the publication of futures and options reports that traders rely on to gauge market sentiment.
History shows the fallout can be severe. In 2019, for instance, a prolonged shutdown derailed Trump’s deregulatory agenda, as the Federal Register could not publish new rules.

Countdown Nears the End
Without economic data, the Fed is blind. Without regulators, the market loses stability. Without the SEC, IPOs dry up. Each passing day of crisis would deepen the chaos and fuel investor anxiety.
Unless Congress pulls off a last-minute political miracle, the United States is heading toward a shutdown that could freeze the financial system.

#FederalReserve , #USPolitics , #TRUMP , #markets , #SEC

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Two Leading Candidates Open to Crypto
The White House is accelerating its search for a new chair of the Commodity Futures Trading Commission (CFTC), and two prominent names have surfaced – Jill Sommers and Kyle Hauptman. Both are known for their positive stance toward digital assets, signaling that the Trump administration may be leaning toward a more crypto-friendly direction.

Jill Sommers – Experienced Insider with Regulatory Ties
Sommers previously served as a CFTC commissioner and brings more than a decade of experience at Patomak Global Partners, a consulting firm founded by former SEC commissioner Paul Atkins. Her professional and personal relationship with Atkins has kept her at the center of regulatory discussions in Washington.
Throughout her career, she has been described as supportive of market innovation and open to the growth of digital assets, making her an attractive candidate for the crypto industry.

Kyle Hauptman – Banker and Regulator in One
The second strong contender is Kyle Hauptman, the current chairman of the National Credit Union Administration (NCUA). He also worked as a senior vice president at the investment bank Jefferies, trading U.S. Treasuries and futures. His blend of Wall Street experience and regulatory oversight positions him as a credible and balanced candidate.

Political Context and Other Names in Play
The leadership debate reopened after the nomination of Brian Quintenz stalled due to a conflict with the Winklevoss twins. While Quintenz remains the official nominee, his Senate confirmation has been delayed. Other names under consideration include SEC attorney Mike Selig and Treasury official Tyler Williams.

Crypto Industry Seeks Clear Rules
Appointing either Sommers or Hauptman would send a strong signal to the crypto sector that the government aims to establish a clear and predictable regulatory framework. The CFTC is already viewed by many market participants as more open to innovation than other federal agencies.
If led by a crypto-friendly chair, this perception could strengthen further. The inclusion of both Sommers and Hauptman on the shortlist highlights the Trump administration’s willingness to consider leaders who favor digital assets.

#TRUMP , #CFTC , #Fed , #CryptoRegulation , #USPolitics

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TikTok Stays in the U.S. – But Under American Oversight
President Donald Trump will today officially sign an executive order approving the transfer of TikTok’s U.S. operations into the hands of domestic investors. According to the White House, the agreement satisfies the requirements of the 2024 law, which initially banned the platform unless Chinese parent company ByteDance relinquished control.
Under the new structure, ByteDance will keep less than a 20% stake, while the majority will be owned by a consortium of American investors. The group includes technology giant Oracle, billionaire Michael Dell of Dell Technologies, and the Murdoch family, owners of media empires such as News Corp and Fox.

120-Day Extension and 170 Million U.S. Users
Trump has also postponed a full ban on TikTok in the United States, which would have affected over 170 million users – from individuals and businesses to influencers and content creators. The executive order will extend the suspension of the ban for another 120 days, giving investors, legal teams, and tech experts time to finalize the deal.
By law, the president determines what qualifies as a “true divestment.” In this case, it involves not only ownership but also who operates TikTok in the U.S., who controls the recommendation algorithm, and how user data is stored.

Oracle Takes Over Data and Algorithm
Oracle will play a central role as the security partner. The company will host all American user data on its cloud servers and oversee the code and TikTok’s recommendation algorithm. The algorithm will be copied, retrained, and relaunched to function exclusively with U.S. data.
A new board of directors – with six seats reserved for U.S. investors – will supervise TikTok’s U.S. operations. It will be responsible for strategic decisions, content moderation, technology updates, and ensuring compliance with U.S. law.

Security and National Interests
According to the White House, the deal meets all legal standards while safeguarding American users. TikTok will remain available, including global content from creators worldwide, but foreign influence – particularly from China – will be cut off. ByteDance will lose access to U.S. user data and the recommendation algorithm.
“Oracle will operate, retrain, and continuously monitor the U.S. algorithm to ensure that no manipulation or surveillance occurs,” the White House stated in official documents.
The deal comes amid growing bipartisan concerns in Congress over national security and foreign influence. However, it is not yet clear to what extent federal agencies will have direct oversight over Oracle’s operations or the algorithm itself. Officials said only that the safeguards will prevent “improper interference.”

#tiktok , #TRUMP , #USPolitics , #technews , #DonaldTrump

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American companies and foreign exporters may be finding ways to sidestep Trump’s import duties — and according to a new Goldman Sachs analysis, this could cost the U.S. government up to $40 billion annually in lost revenue.

Rerouting Through Third Countries and Undervaluing Goods
Economists say firms are increasingly rerouting goods through countries with lower tariff rates or underreporting the value of imports. The trend is especially visible in Vietnam, where imports from China have surged in parallel with exports to the U.S. Analysts highlight this as a classic pattern of rerouting.
“American buyers and foreign exporters have strong incentives to declare lower values at customs,” Goldman Sachs noted. If this behavior spreads further, it could affect more than $200 billion in annual trade.

Warning Signs Already in the Data
Trade statistics show that the gap between what the U.S. reports as imports from China and what China reports as exports to the U.S. has widened by another $4 billion per month in 2025. Historically, U.S. figures were usually higher, but the discrepancy is now reaching new extremes.
Goldman Sachs also pointed to steep drops in reported import prices for certain goods — such as cast-iron bathtubs from China or gas stoves from Thailand. Analysts argue these declines are too sharp to be explained by cheaper production alone, suggesting companies may be underreporting values to avoid tariffs.

White House Cracks Down
The Trump administration has responded with tougher measures, including a 40% levy on goods shipped through third countries and the creation of a special task force to combat trade fraud. It also scrapped the de minimis rule, which previously allowed packages under $800 to enter the U.S. duty-free.
Even so, Goldman warns that despite these efforts, the market is adapting quickly, and the risk of tariff evasion remains high. If companies continue rerouting shipments and underreporting values, tariff revenue will fall far short of the levels Trump’s team has promised.
Ultimately, the tariff battle isn’t just about the rates themselves but also about the government’s ability to enforce compliance — a factor with major implications for both the U.S. budget and global trade relations.

#TrumpTariffs , #GlobalTrade , #TradeWar , #USPolitics , #economy

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