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Janet Yellen named distinguished fellow at Brookings Institution

Image: Alex Wong / Getty Images

Federal Reserve Chair Janet Yellen will end her term this weekend and begin work as a distinguished fellow at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, reports CNBC.

Why it matters: Yellen spent 17 years in the Federal Reserve System and four as chairman, before Jerome Powell was confirmed as her successor last month. She will join former Fed Chairman Ben Bernanke and several other Fed alumni in her new position at Brookings.

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Orion Rummler
30 mins ago - Politics & Policy

AP: Justice Dept. rescinds "zero tolerance" policy

A young girl waves to onlookers through the fence at the US-Mexico border wall at Friendship Park in San Ysidro, California in Nov. 2018. Photo: Sandy Huffaker/AFP via Getty Images

President Biden's acting Attorney General Monty Wilkinson issued a memo on Tuesday to revoke the Trump administration's "zero tolerance" immigration policy, which separated thousands of migrant children from their families at the U.S.-Mexico border, AP first reported.

Driving the news: A recent report by Justice Department Inspector General Michael Horowitz emphasized the internal chaos at the agency over the implementation of the policy, which resulted in 545 parents separated from their children as of October 2020.

Go deeper (<1 min. read)Arrow
Russell Contreras
1 hour ago - Politics & Policy

Biden picks up his pen to change the tone on racial equity

Vice President Harris looks on as President Biden signs executives orders related to his racial equity agenda. Photo: Doug Mills-Pool/Getty Images

President Biden is making a down payment on racial equity in a series of executive orders dealing with everything from private prisons to housing discrimination, treatment of Asian Americans and relations with indigenous tribes.

The big picture: Police reform and voting rights legislation will take time to pass in Congress. But with the stroke of his pen, one week into the job Biden is taking steps within his power as he seeks to change the tone on racial justice from former President Trump.

Go deeper (2 min. read)Arrow
Kadia Goba
2 hours ago - Politics & Policy

Most Senate Republicans join Rand Paul effort to dismiss Trump's 2nd impeachment trial

Photo: Joshua Roberts-Pool/Getty Images

Forty-five Senate Republicans, including Minority Leader Mitch McConnell, supported an effort to dismiss former President Trump's second impeachment trial.

Why it matters: The vote serves as a precursor to how senators will approach next month's impeachment trial, making it highly unlikely the Senate will vote to convict. The House impeached Trump for a second time for "incitement of insurrection" following events from Jan 6. when a pro-Trump mob stormed the Capitol.

Go deeper (1 min. read)Arrow