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Photo: Alex Wong/Getty Images

The life of Federal Reserve Chairman Jerome Powell is going from bad to worse. Trump is furious that Powell is raising interest rates quickly and even called the Fed the "biggest threat" to a booming economy.

What's happening: According to a source familiar with Trump's thinking, the president feels the only way to get his message to Powell is by bashing him in the media. And I've heard nothing to suggest Trump will back off these attacks.

Another problem for the Fed: Trump's nominee for the central bank's board of governors, Nellie Liang, has significant problems with Republicans and may not even make it to the Senate floor for a vote.

  • A number of key Republican senators, including Pat Toomey on the Senate Banking Committee, have expressed doubts about her.
  • Liang favors strong regulations on banks and is a Democrat. It's unclear whether she can even make it out of committee.

The bottom line: "There's a better chance of seeing Elvis than of seeing her on the Fed," a source close to Republican leadership told me. Mitch McConnell is "not going to call a vote on somebody who has no support among Republicans. That's not how Mitch works."

Go deeper:

Go deeper

2 hours ago - World

Taiwan leader confirms U.S. troops on island training forces

Taiwan's President Tsai Ing-wen in Taipei earlier this month. Photo: I-Hwa Cheng/Bloomberg via Getty Images

Taiwan's President Tsai Ing-wen told CNN Thursday that a small number of American troops are on the island for training purposes and she has "faith" the U.S. would defend the democracy against a Chinese military attack.

Why it matters: This is the first time a Taiwanese leader has publicly acknowledged the presence of U.S. troops on the self-governing island since the last U.S. garrison left in 1979, when Washington switched formal diplomatic recognition to Beijing.

Updated 5 hours ago - Health

NYC firefighters union urges members to defy mayor's vaccine mandate

New York City Mayor Bill de Blasio. Photo: Michael M. Santiago/Getty Images

The president of New York City's firefighters union told reporters Wednesday that he's advised unvaccinated members to ignore Mayor Bill de Blasio's COVID-19 vaccine mandate for city workers, per Reuters.

Why it matters: Under de Blasio's order that's due to take effect Friday, unvaccinated city employees would be placed on unpaid leave. But Uniformed Firefighters Association head Andrew Ansbro said he told members that "if they choose to remain unvaccinated, they must still report for duty," according to Reuters.

6 hours ago - Health

Study: Common antidepressant guards against COVID hospitalization

A COVID-19 intensive Care Unit in Rio De Janeiro, Brazil on May 27, 2021. Photo: Fabio Teixeira/Anadolu Agency via Getty Images

The readily available antidepressant fluvoxamine significantly reduced COVID-related hospitalizations, according to a large study published Wednesday.

Why it matters: The clinical trial suggests that a cheap, readily available drug could dramatically reduce serious illness and death when prescribed early.

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