Stories from Washington · United States

American consumers are expressing concern over persistent high prices, particularly for gasoline, impacting their overall spending. Many are cutting back on non-essential purchases like entertainment and groceries, indicating a significant economic strain. The US dollar maintained strength near a two-week high during morning trading. This follows warnings from the Federal Reserve regarding inflation risks and the decision to hold interest rates steady. Markets have now removed the possibility of interest rate cuts within this year. The Japanese yen saw a decline, exceeding the 160 level.

The U.S. A representative on the House floor criticized the speaker for attempting to block debate and deny a vote on warrant requirements for FISA Section 7 reauthorization. The speaker is accused of trying to jam through an extension of warrantless surveillance without meaningful reforms. The critic stated that the government must obtain a warrant to search private communications to meet constitutional requirements. House of Representatives passed a three-year reauthorization of FISA Section 7. Congressman Jim Jordan, Republican from Ohio and Judiciary Committee Chair, debated the bill on the House floor. The reauthorization includes a requirement for monthly reviews of FBI U.S. Queries found to violate rules will be referred to the Inspector General of the Intelligence Community for investigation.

A debate is ongoing regarding Congress's role in authorizing military action, particularly concerning President Trump's actions in Iran. While the president can take military action for 60 days, Congress has the power to vote against it. However, Speaker Mike Johnson has shown reluctance to interfere with Trump's decisions. Analysts suggest that if the US enters a conflict with Iran, the Congress might reconsider these authorities. The situation remains a point of discussion regarding future military escalations. The US Congress is scheduled to vote on two resolutions today. These resolutions aim to prevent President Trump from continuing the war in Iran or taking military action against Cuba without prior legislative authorization. The source noted the vote is expected to occur following leadership discussions in Washington.

A commentator on C-SPAN Radio argued that a fraction of the money spent on war could provide full healthcare for every citizen. The statement highlights concerns about national spending priorities and the high cost of military conflicts in terms of both lives and financial resources. The US healthcare budget for 2026 represents only a small fraction of the national war budget.

Financial records reveal that former California representative Eric Swalwell utilized $40,000 from his campaign account to pay attorney Sarah Azari. The payments were made shortly after allegations of sexual misconduct surfaced against him. This development highlights the use of political funds for personal legal matters. The report was discussed on WLS AM 890. The segment included commentary regarding the administration of former Mayor Rahm Emanuel.

There are renewed demands for the appointment of a special prosecutor to investigate the conduct of federal agents during Operation Midway Blitz. The investigation would focus on specific actions taken by agents during the operation. The calls for legal oversight follow recent developments regarding the federal response.

Total US military expenditures have surpassed $61 billion according to WarCostTracker data. The ongoing blockade in the Strait of Hormuz has halted oil and commercial shipping, driving up international oil prices. This project is part of the Golden Fleet initiative announced by US President Donald Trump in December 2025. US lawmakers are questioning the Pentagon's estimate of $5 billion required for a potential war with Iran. Some Democrats have expressed concerns that the conflict could cost significantly more than the stated amount. Senators have raised questions regarding the scale and financial implications of the military action. This figure is reportedly lower than previous estimates provided by various military analysts. The information is currently undergoing verification.

The US Department of Justice has dropped a criminal investigation into Federal Reserve Chair Jerome Powell regarding a renovation project at the Fed's Washington headquarters. The probe initially involved potential criminal proceedings related to Powell's upcoming testimony before the Senate Banking Committee. While the investigation is closed, officials noted it could be reopened if new information regarding budget overruns emerges. This action is seen as clearing a key obstacle for the nomination of potential successor, likely to be more dovish than Powell. Following the news, the two-year US Treasury yield slightly decreased. Market expectations suggest a 50% probability of interest rate cuts by the Federal Reserve before July of next year. Senator Tillis, a Republican, indicated he is willing to vote for confirmation.

US President Donald Trump has threatened to impose tariffs on the United Kingdom if London does not repeal its digital services tax targeting large American technology firms. According to the Bundesverkehrsministerium, the Deutschlandticket currently costs 63 Euro and is used by approximately 14.5 million people, saving 2.5 million tons of CO2 annually. Officials have accused Brussels of not engaging in fair trade practices. President Trump announced via his True Social platform that he will increase import tariffs on European cars and trucks from 15 percent to 25 percent. The administration suggested the EU should respond with its most clear and firm stance. European Parliament Committee on International Trade Chair Ursula von der Leyen described the action as unacceptable, stating it shows the US is an unreliable trade partner.

The US Treasury Department has seized $424 million in cryptocurrency assets linked to Iranian interests. This action follows investigations into the ability of Tehran to fund and sustain its regional activities. The seizure is part of ongoing efforts to disrupt the financial capabilities of the Iranian government. The action was taken to prevent the movement of funds by an agency tied to Iran. Operation Economic Fury resulted in the seizure of nearly $500 million in Iranian cryptocurrency assets. Tether froze $344 million in USDT following direction from the Office of Foreign Assets Control (OFAC).