The Senate has confirmed Kevin Warsh as chairman of the Federal Reserve. The vote to confirm Warsh on Wednesday brings new leadership to the world’s most powerful central bank at a fraught moment for the global economy. Warsh’s nomination faced uncertainty after Republican Sen. Thom Tillis of North Carolina threatened to block it while the Justice Department investigated Fed Chair Jerome Powell. The Powell probe was dropped in April, allowing the Warsh confirmation to move forward. Warsh will take over as the Fed confronts stubborn inflation, deep divisions over interest rates and renewed scrutiny from President Donald Trump over its independence.
President Donald Trump says he wants the U.S. to take ownership of the Gaza Strip and redevelop it after Palestinians are resettled elsewhere. He made the remarks in a joint press conference with Israeli Prime Minister Benjamin Netanyahu. Earlier Tuesday, Trump’s Middle East envoy said that a three to five-year timeline for the reconstruction of Gaza is not a viable post-war plan for the battle-torn territory. This first visit of a foreign leader during Trump’s second term comes amid lagging support for Netanyahu in Israel.
Vice President Kamala Harris has decided on Minnesota Gov. Tim Walz as her running mate. The 60-year-old Democrat and military veteran rose to the forefront with a series of plain-spoken television appearances in the days after President Joe Biden decided not to seek a second term. Walz has made his state a bastion of liberal policy. He won the governor's office in 2018, and Democratic control of the Legislature has allowed Walz and lawmakers to repeal abortion restrictions, protect gender-affirming care for minors and legalize recreational marijuana use. Walz served 24 years in the Army National Guard.