Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment
WASHINGTON (AP) — Federal Reserve Chair Jerome Powellsaid Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed's building renovations.
The move represents an unprecedented escalation in President Donald Trump's battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could over time escalate borrowing costs for mortgages and other loans.
The subpoenas relate to Powell's testimony before the Senate Banking Committee in June, the Fed chair said, regarding the Fed's $2.5 billion renovation of two office buildings, a project that Trump has criticized as excessive.
Powell on Sunday cast off what has up to this point been a restrained approach to Trump's criticisms and personal insults, which he has mostly ignored. Instead, Powell issued a video statement in which he bluntly characterized the threat of criminal charges as simple “pretexts” to undermine the Fed’s independence when it comes to setting interest rates.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," Powell said. “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure or intimidation.”
Trump 'inclined' to keep ExxonMobil out of Venezuela after CEO response at White House meeting
ABOARD AIR FORCE ONE (AP) — President Donald Trump said Sunday that he is “inclined” to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts in the country after the toppling of former President Nicolás Maduro.
“I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.”
During a meeting Friday with oil executives, Trump tried to assuage the concerns of the companies and said they would be dealing directly with the U.S., rather than the Venezuelan government.
Some, however, weren’t convinced.
“If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s uninvestable,” said Darren Woods, CEO of ExxonMobil, the largest U.S. oil company.
Video captures Minneapolis immigration arrest in a city on edge after shooting of Renee Good
MINNEAPOLIS (AP) — Federal agents carrying out immigration arrests in Minnesota's Twin Cities region already shaken by the fatal shooting of a woman rammed the door of one home Sunday and pushed their way inside, part of what the Department of Homeland Security has called its largest enforcement operation ever.
In a dramatic scene similar to those playing out across Minneapolis, agents captured a man in the home just minutes after pepper spraying protesters outside who had confronted the heavily armed federal agents. Along the residential street, protesters honked car horns, banged on drums and blew whistles in attempts to disrupt the operation.
Video of the clash taken by The Associated Press showed some agents pushing back protesters while a distraught woman later emerged from the house with a document that federal agents presented to arrest the man. Signed by an immigration officer, the document — unlike a warrant signed by a judge — does not authorize forced entry into a private residence. A warrant signed by an immigration officer only authorizes arrest in a public area.
Immigrant advocacy groups have conducted extensive “know-your-rights” campaigns urging people not to open their doors unless agents have a court order signed by a judge.
But within minutes of ramming the door in a neighborhood filled with single-family homes, the handcuffed man was led away.
Death toll from protests in Iran hits at least 544, activists say, as Trump says Iran wants to talk
DUBAI, United Arab Emirates (AP) — U.S. President Donald Trump said Sunday that Iran proposed negotiations after his threat to strike the Islamic Republic over its bloody crackdown targeting demonstrators there, a move coming as activists said the death toll in protests rose to at least 544.
Trump and his national security team have been weighing a range of potential responses against Iran including cyberattacks and direct strikes by the U.S. or Israel, according to two people familiar with internal White House discussions who were not authorized to comment publicly and spoke on condition of anonymity.
“The military is looking at it, and we’re looking at some very strong options,” Trump told reporters on Air Force One on Sunday night. Asked about Iran’s threats of retaliation, he said: “If they do that, we will hit them at levels that they’ve never been hit before.”
Trump said that his administration was in talks to set up a meeting with Tehran, but cautioned that he may have to act first as reports of the death toll in Iran mount and the government continues to arrest protesters.
“I think they’re tired of being beat up by the United States,” Trump said. “Iran wants to negotiate.”
Hamas says it will dissolve its Gaza government when new Palestinian body takes over
CAIRO (AP) — Hamas said Sunday it will dissolve its existing government in Gaza once a Palestinian technocratic leadership committee takes over the territory, as mandated under the U.S.-brokered peace plan. But the group gave no specifics on when the change will occur.
Hamas and the rival Palestinian Authority, the Palestinians’ internationally recognized representative, have not announced the names of the technocrats, who are not supposed to be politically affiliated, and it remains unclear if they will be cleared by Israel and the U.S.
The “Board of Peace,” an international body led by Trump, is supposed to oversee the government and other aspects of the ceasefire that took effect on Oct. 10, including disarming Hamas and deploying an international security force. The board's members have not been announced.
Meanwhile, the post-ceasefire death toll continued to rise in Gaza, with Israeli gunfire killing three Palestinians, according to Palestinian hospital officials.
The ceasefire began with a halt in fighting and the release of hostages held in Gaza in exchange for thousands of Palestinians held by Israel. The deal is still in its first phase as efforts continue to recover the remains of the final hostage left in Gaza.
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With Cuban ally Maduro ousted, Trump warns Havana to make a 'deal' before it's too late
WEST PALM BEACH, Fla. (AP) — President Donald Trump on Sunday fired off another warning to the government of Cuba as the close ally of Venezuela braces for potential widespread unrest after Nicolás Maduro was deposed as Venezuela's leader.
Cuba, a major beneficiary of Venezuelan oil, has now been cut off from those shipments as U.S. forces continue to seize tankers in an effort to control the production, refining and global distribution of the country's oil products.
Trump said on social media that Cuba long lived off Venezuelan oil and money and had offered security in return, “BUT NOT ANYMORE!”
“THERE WILL BE NO MORE OIL OR MONEY GOING TO CUBA - ZERO!” Trump said in the post as he spent the weekend at his home in southern Florida. “I strongly suggest they make a deal, BEFORE IT IS TOO LATE.” He did not explain what kind of deal.
Hours later, Cuba's president, Miguel Díaz-Canel, responded on X by saying “those who turn everything into a business, even human lives, have no moral authority to point the finger at Cuba in any way, absolutely in any way.”
Greenland’s harsh environment and lack of infrastructure have prevented rare earth mining
Greenland's harsh environment, lack of key infrastructure and difficult geology have so far prevented anyone from building a mine to extract the sought-after rare earth elements that many high-tech products require. Even if President Donald Trump prevails in his effort to take control of the Arctic island, those challenges won't go away.
Trump has prioritized breaking China's stranglehold on the global supply of rare earths ever since the world's number two economy sharply restricted who could buy them after the United States imposed widespread tariffs last spring. The Trump administration has invested hundreds of millions of dollars and even taken stakes in several companies. Now the president is again pitching the idea that wresting control of Greenland away from Denmark could solve the problem.
“We are going to do something on Greenland whether they like it or not,” Trump said Friday.
But Greenland may not be able to produce rare earths for years — if ever. Some companies are trying anyway, but their efforts to unearth some of the 1.5 million tons of rare earths encased in rock in Greenland generally haven't advanced beyond the exploratory stage. Trump's fascination with the island nation may be more about countering Russian and Chinese influence in the Arctic than securing any of the hard-to-pronounce elements like neodymium and terbium that are used to produce the high-powered magnets needed in electric vehicles, wind turbines, robots and fighter jets among other products.
“The fixation on Greenland has always been more about geopolitical posturing — a military-strategic interest and stock-promotion narrative — than a realistic supply solution for the tech sector,” said Tracy Hughes, founder and executive director of the Critical Minerals Institute. “The hype far outstrips the hard science and economics behind these critical minerals."
Lawsuits by Trump allies could shape how the 2030 census is done and who will be counted
ORLANDO, Fla. (AP) — The next U.S. census is four years away, but two lawsuits playing out this year could affect how it will be done and who will be counted.
Allies of President Donald Trump are behind the federal lawsuits challenging various aspects of the once-a-decade count by the U.S. Census Bureau, which is used to determine congressional representation and how much federal aid flows to the states.
The challenges align with parts of Trump's agenda even as the Republican administration must defend the agency in court.
A Democratic law firm is representing efforts to intervene in both cases because of concerns over whether the U.S. Justice Department will defend the bureau vigorously. There have been no indications so far that government attorneys are doing otherwise, and department lawyers have asked that one of the cases be dismissed.
As the challenges work their way through the courts, the Census Bureau is pushing ahead with its planning for the 2030 count and intends to conduct practice runs in six locations this year.
Purdy, 49ers eliminate defending Super Bowl champion Eagles with 23-19 win in wild-card game
PHILADELPHIA (AP) — Jauan Jennings hid his eyes behind sunglasses, but could not hide his emotions with the San Francisco 49ers set to play an NFC postseason rubber match in Seattle.
The 49ers wideout-turned-backup quarterback slammed his fists on the table and essentially told the Seahawks to bring it on. He leaned into the microphone and yelled, “CAN'T WAIT!” before he walked off with a knowing smile that perhaps the best in San Francisco was yet to come.
The 49ers are in for a playoff treat, thanks in large part to a pretty neat trick pulled off by Jennings.
Brock Purdy threw a go-ahead 4-yard touchdown pass to Christian McCaffrey late in the fourth quarter, San Francisco used a trick play on a TD toss from Jennings to McCaffrey, and the 49ers eliminated the defending Super Bowl champion Philadelphia Eagles with a 23-19 wild-card victory Sunday.
“We went to the Super Bowl,” Jennings said. “So, we’ve got to top that.”
The Latest: Golden Globes kicks off Hollywood's 2026 awards season
Hollywood’s awards season is underway with the 83rd Golden Globe Awards, happening now.
Comedian Nikki Glaser returns for a second year to host the ceremony at the Beverly Hilton in Beverly Hills, California. It’s a Champagne-soaked party featuring some of the biggest names in film and television, even if the awards won’t exactly forecast the Oscars.
“One Battle After Another” topped the list of nominations with nine, closely followed by “Sentimental Value” with eight. “Wicked: For Good” was snubbed for best picture and best director. Others left out include Joe Rogan (for the new podcast category ), Sydney Sweeney and Gwyneth Paltrow, leaving room for plenty of surprise inclusions. See the full list of nominees.
The Globes is being broadcast on CBS and is available to stream through Paramount+.
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