Apple News Today From Elmo to emergency alerts: The impact of public media cuts
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Jul 17, 2025 Tensions rise as Trump wavers on firing Fed Chair Jerome Powell, exploring the legal landscape of presidential power over the Fed. PBS faces potential funding cuts, raising alarms about the future of local media. The challenges Los Angeles faces in rebuilding after devastating fires are highlighted, shedding light on broader community resilience issues. Trump’s controversial comments on the Epstein files and significant developments in IVF technology that could prevent disease are also discussed, offering a mix of political and scientific intrigue.
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Limits on Firing Fed Chair
- Presidents can appoint but not freely fire Federal Reserve Chairs without cause, safeguarding Fed independence.
- Trump’s attempts to remove Powell over interest rate disagreements challenge this vital economic principle.
Fed Renovation Used as Pretext
- Trump’s charge against Powell on the Fed building’s $2.5 billion renovation cost overruns appears to be a pretext.
- The Fed disputes wrongdoing, emphasizing that building control is under Fed jurisdiction.
Fed Independence Secures Financial Stability
- Political pressure on the Fed chair threatens U.S. financial stability and the safe reputation of Treasury bonds.
- Independent Fed leadership underpins trust crucial to finance and borrowing costs.