Aug 6, 2019 - Politics & Policy

Ex-Fed chairs emphasize need for independence in joint WSJ op-ed

Photo: ANDREW CABALLERO-REYNOLDS/AFP/Getty Images

All 4 living former Fed chairs co-signed an op-ed in the Wall Street Journal Monday, warning of the troubles with a Federal Reserve beholden to short-term politics instead of independently working to meet its mandates of maximum employment and stable prices.

Why it matters: Current Fed chairman Jerome Powell has faced mounting (and unusual) criticism and pressure from President Trump to cut interest rates — something he finally did last week. As Axios's Felix Salmon notes, it'll only make it harder for Powell to maintain an appearance of independence.

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Fadel Allassan
1 hour ago - Politics & Policy

Trump says he'll accept nomination at White House or Gettysburg

Trump at the 2016 Republican National Convention. Photo: Bill Clark/CQ Roll Call via Getty Images

President Trump tweeted Monday that he'll deliver his speech accepting the Republican nomination for president at either the Gettysburg battlefield in Pennsylvania or at the White House.

The state of play: Republican National Convention planners are looking for a new venue for the president to deliver his acceptance speech after convention events were canceled in Jacksonville, Fla., due to coronavirus concerns.

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Dave Lawler
2 hours ago - World

Lebanon's prime minister resigns in wake of deadly explosion

Protests in Beirut. Photo: Maxim Grigoryev/TASS via Getty

Lebanon's prime minister and cabinet have resigned amid massive protests in the aftermath of a deadly explosion in Beirut that killed more than 160 people, injured 6,000 and left roughly 250,000 homeless.

Why it matters: Protesters blame the incompetence of the ruling elite — widely viewed as corrupt — for the disaster. The unstable and deeply distrusted government will remain in place in a caretaker capacity until a new prime minister is selected.

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Zachary Basu
Updated 3 hours ago - World

Protests erupt in Belarus after "Europe's last dictator" claims election win

Protesters and riot police clash in Minsk, Belarus, on Sunday during a demonstration against President Alexander Lukashenko's claim of a landslide victory. Photo: Misha Friedman/Getty Images)

Riot police clashed with protesters in Belarus overnight after a government exit poll predicted Sunday President Aleksander Lukashenko, an authoritarian who has ruled the Eastern European country since 1994, had overwhelmingly defeated a pro-democracy opposition candidate.

Why it matters: It's a precarious moment for the former Soviet republic, where decades of repression and a complete disregard for the coronavirus pandemic threaten to topple "Europe's last dictator." Rights groups said at least one protester was killed and dozens more wounded in a "police crackdown," per AP.

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