Morning Wire Biden Taps Gas Reserve & FDIC Head Steps Down | Afternoon Update | 5.21.24
May 21, 2024
Tensions rise as Donald Trump's trial unfolds, highlighting his defense's final arguments. Meanwhile, the Biden administration takes action against rising fuel prices by tapping into gasoline reserves. Workplace challenges lead to the resignation of the FDIC head, stirring up discussions on leadership. In an unexpected twist, a case of mistaken identity adds intrigue to a coup in Congo. Lastly, the ongoing legal battles involving Elvis Presley’s granddaughter keep the spotlight on family dynamics in the face of scrutiny.
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Michael Cohen's Testimony
- Michael Cohen, Trump's former lawyer, gave bombshell testimony in Trump's trial.
- He was caught in apparent lies and admitted to stealing $60,000 from the Trump Organization.
Biden's Gas Reserve Release
- Biden released 1 million barrels of gasoline from the Northeast Reserve to combat high gas prices.
- This release, mandated by Congress, aims to lower costs but is considered a small measure.
FDIC Head Resigns
- FDIC head Martin Gruenberg stepped down after reports revealed mishandling of 500+ complaints.
- Complaints included stalking, harassment, and discrimination within the agency.