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Trump says he might sue Fed Chair Jerome Powell for 'gross incompetence'

(Washington Post) President Donald Trump on Monday said he might sue Federal Reserve Chair Jerome H. Powell for what the president called “gross incompetence,” injecting new tension into the already strained relationship between the White House and the independent central bank. Speaking at a news conference beside Israeli Prime Minister Benjamin Netanyahu at Mar-a-Lago, Trump said “the guy is just incompetent.” Trump first brought up the Fed’s multibillion-dollar renovation project, which at times has become a stand-in for Trump’s ongoing attacks on the Fed system.

States step into the breach as Obamacare subsidies lapse

(Politico) At least a dozen states are working to shield people from soaring health insurance costs following Congress’ failure to extend Obamacare subsidies for tens of millions of Americans. The efforts, which include actions taken by state leaders in California, Colorado and Maryland, in nearly every case come with a major caveat: They will only be able to help a portion of the people whose health insurance will be too expensive without the enhanced subsidies that Congress opted not to renew before leaving Washington for the year.

The 2028 Race Has Begun. Here's Who's Winning.

(Politico) The Trump Organization may sell Trump 2028 hats, but even President Donald Trump bowed to the Constitution and acknowledged earlier this month that he would not be the next Republican presidential nominee: “It’s not going to be me.” It’s clear to everyone that the jockeying for presidential primary position in the post-Trump era — in both major parties — has already begun.

Trump administration agrees to review stalled NIH research grants after lawsuit

(Reuters) The Trump administration on Monday reached a deal with researchers and Democratic-led states who sued over cuts to funding for diversity-related research, agreeing to review grant applications that were stalled or rejected during the legal battle. A federal judge in Boston previously ruled that the National Institutes of Health unlawfully canceled hundreds of millions of dollars in research grants because of their perceived connection to diversity, equity and inclusion initiatives.

Tuesday's Condensed News Cartoons

Trump says he plans to announce his pick for Fed chair in January

Dec. 29, 2025, 6:09 p.m. ET President Donald Trump said he expects to announce his pick to replace Federal Reserve Chair Jerome Powell in January, a highly-anticipated moment for an institution that the president has assailed as he pushes to slash interest rates to boost economic activity. Powell's term as chair expires in May and Trump is eager to see him gone, repeatedly slamming his leadership of the central bank. "I'd love to fire him but we're so close" to his term expiring Tr ...

SBA halts grants to Minnesota in wake of fraud scandal

12/29/25 5:37 PM ET Small Business Administration (SBA) head Kelly Loeffler said Monday that her department is halting annual grants to Minnesota, amid an investigation into alleged fraud in COVID-era lending programs. Loeffler said on the social platform X that the SBA is pausing yearly funding to Minnesota “while we investigate $430 million in suspected [Paycheck Protection Program] fraud across the state.” The Paycheck Protection Program (PPP) was established by the 2020 CARES Act, which ...

Trump vows to "knock the hell" out of Iran if it rebuilds missile program

11h President Trump warned Monday there'd be "very powerful" consequences for Iran if Tehran rebuilds its ballistic missile or nuclear weapons programs. Why it matters: Trump made clear during a briefing with Israeli Prime Minister Benjamin Netanyahu at his Mar-a-Lago estate that he wouldn't rule out more military action against Iran. Driving the news: Trump told reporters he'd read that Tehran was "building up weapons and other things" and "if they are, they're not ...