9 h. ago Hundreds of economists sign open letter backing embattled Fed Governor Lisa Cook after Trump attacks

Notable and experienced economists warn elected officials that attacks on the Fed ‘undermine’ public confidence

Events

10 h. ago Will Trump really attack Venezuela? War of words with President Maduro escalates as US sends destroyers to region

The Venezuelan President has threatened to create a 'republic in arms' if the Trump administration takes military action against his country

Politics

39 h. ago UK manufacturing downturn continues as new orders slide; Trump’s attack on Fed is ‘a serious danger’ – business live

Weak market conditions, US tariffs and downbeat client confidence blamed for drop in factory ordersOuch! The UK manufacturing sector shrank again last month, as factories were hit by weaker demand at home and abroad.The latest monthly poll of purchasing managers across Britain’s manufacturing sector found that new orders and new export business both fell at quicker rates in August, leading to another drop in production volumes.“Production volumes are still showing resilience in the face of global geopolitical uncertainty and US tariff policies, with both July and August having seen only slight contractions that were milder than those suffered earlier in the year. Business confidence has also lifted to a sixmonth high, reflecting hopes that the trading environment is starting to settle down.However, August also saw a steep drop in UK manufacturers’ new orders, with total order books and overseas demand both falling at some of the fastest rates seen over the past two years. Weak marke...

Politics

3 d. ago ‘Racist as hell’: Trump’s cabinet is almost all white, and he keeps firing Black officials

President’s targeting of Fed governor Lisa Cook highlights his efforts to remove diverse voices from governmentA day after Donald Trump announced that he was firing Lisa Cook, the first Black woman to serve on the board of governors of the Federal Reserve, the White House proudly released a photo. It showed Trump, his cabinet and other officials giving a thumbs-up. Of the 24 people in the Oval Office, only one was Black.For those who have studied the US president’s long and troubling history of racism, the two events were more than mere coincidence. They were indicative of a man who has recently brought white nationalist perspectives from the margins back to the mainstream. Continue reading...

Politics

4 d. ago Court blocks Trump bid to end protections for 600,000 Venezuelans

Appellate panel upholds lower court’s ruling as homeland security spokesperson attacks ‘activist’ judgesA federal appeals court on Friday blocked Donald Trump’s plans to end protections for 600,000 people from Venezuela who have permission to live and work in the US, saying that plaintiffs are likely to win their claim that the president’s administration’s actions were unlawful.A three-judge panel of the ninth US circuit court of appeals unanimously upheld a lower court ruling that maintained temporary protected status for Venezuelans while TPS holders challenge actions by the Republican president’s administration in court. Continue reading...

Politics

4 d. ago Trump admin cancels $679 million for offshore wind projects as attacks on reeling industry continue

The Transportation Department has canceled $679 million in federal funding for a dozen offshore wind projects

Politics

4 d. ago The Guardian view on Trump and the Fed: independence is no substitute for accountability | Editorial

The US president’s move against Lisa Cook shows his despotic bent, but the Fed was never democracy’s guardian. It’s time to rethink who really controls moneyDonald Trump’s attempt to sack the Federal Reserve governor, Lisa Cook, is the familiar authoritarian trick of bending institutions to serve the leader’s immediate ends. The widespread condemnation is deserved. This is not some daring experiment in popular control of monetary policy. Yet what should follow censure is reflection. For the furore over Ms Cook has revealed a peculiar reflex: to defend the Fed’s independence as though it were synonymous with democracy itself.But is independence of the Fed, or central banks generally, really that? Eric Levitz at Vox thinks so, or at least that it is close enough. He argues that Congress sets the Fed’s objectives; independence applies only to the means. Without independence, politicians would be free to game rates for votes – as Richard Nixon did in 1972, leaning on the ...

Politics

4 d. ago Kilmar Abrego Garcia seeks gag order against Trump administration, singles out Noem and Bondi’s ‘inflammatory’ attacks

Barrage of public attacks could taint jury pools with ‘irrelevant, prejudicial, and false claims,’ according to Abrego Garcia’s attorneys

Politics

4 d. ago The Cracker Barrel mess exposes the cynicism of the rightwing culture war | Sidney Blumenthal

The restaurant means little to activists – it’s simply a tool to bludgeon perceived enemies and flex conservative powerFirst they came for the Smithsonian. Then they came for Cracker Barrel.Whether it’s the museums or the corporations – or the universities, law firms, federal departments and agencies – the attack lines of the Trump culture war and its culture warriors are the same. The vicious full-scale assault on the Cracker Barrel restaurant chain after the company naively wandered on to the battle zone by altering its “Old Timer” logo exposes the cynicism of the whole operation and its ulterior motive to impose an authoritarian regime over every aspect of American society.Sidney Blumenthal, former senior adviser to President Bill Clinton and Hillary Clinton, has published three books of a projected five-volume political life of Abraham Lincoln: A Self-Made Man, Wrestling With His Angel and All the Powers of Earth. He is a Guardian US columnist Continue reading...

Events

4 d. ago Zelensky warns Russian strike an ‘attack on Europe and Trump’

Ukrainian President Volodymyr Zelensky has claimed Russia's major aerial attack on Kyiv shows President Vladimir Putin is “choosing ballistics” instead of "real steps towards peace".

Events

5 d. ago Lisa Cook, the Federal Reserve governor battling Donald Trump

Economist’s legal showdown with the president will have sweeping implications for the US central bank

Politics

5 d. ago Federal Reserve Governor Lisa Cook sues Trump after he ‘fired’ her

Trump’s unprecedented move against the central bank's leadership is an effort to ‘undermine the independence of the Federal Reserve’, Cook’s lawyer said

Politics

5 d. ago Russia’s devastating attack on Kyiv proves Trump’s Ukraine peace plans have failed. It is time for Europe to show leadership

Starmer and EU leaders may express outrage but they need to take more drastic action to help Ukraine beat Putin, writes World Affairs Editor Sam Kiley

Politics

5 d. ago Liz Truss backs Trump attacks on Fed and says ‘reckoning’ on way for central banks

Britain’s shortest-serving prime minister also critical of Bank of England and European Central BankBusiness live – latest updatesDonald Trump’s assault on the independence of the US Federal Reserve has been backed by Liz Truss, the shortest-serving British prime minister in history, who was ousted after a meltdown in the financial markets.The former Conservative leader, who during her 49 days in power in late 2022 railed against the “deep state” and the Bank of England for undermining her before she was ejected from office by her own party, said a “reckoning” was coming for the world’s most powerful central banks. Continue reading...

Politics

5 d. ago Shocking moment Russia strikes British Council building in Kyiv as Starmer accuses Putin of 'sabotaging peace'

The mass drone and missile attack marks the first significant attack on Ukraine’s capital since Donald Trump met with Vladimir Putin in Alaska

Events

5 d. ago Eight killed in Russian attack on Kyiv as Volodymyr Zelensky reiterates need for 'new, tough sanctions' on Moscow

The mass drone and missile attack marks the first significant attack on Ukraine’s capital since Donald Trump met with Vladimir Putin in Alaska

Events

5 d. ago Twelve killed in Russian attack on Kyiv as Volodymyr Zelensky reiterates need for 'new, tough sanctions' on Moscow

The mass drone and missile attack marks the first significant attack on Ukraine’s capital since Donald Trump met with Vladimir Putin in Alaska

Events

6 d. ago Why Trump’s attack on the Smithsonian matters | Kimberlé Crenshaw and Jason Stanley

The president’s assault on US museums, education and memory is a critical dimension of his fascist aimsIn a letter sent to Smithsonian secretary, Lonnie G Bunch III, on 12 August, the Trump administration announced its plan to replace all Smithsonian exhibits deemed as “divisive” or “ideological” with descriptions deemed as “historical” and “constructive”. On 21 August, just nine days later, the White House published a list of said offending fixtures – the majority of which include exhibits, programming and artwork that highlight the Black, Latino and LGBTQ+ perspectives on the American project. Included in his bill of particulars was an exhibit that rightly depicts Benjamin Franklin as an enslaver, an art installation that acknowledges race as a social construct and a display that highlights racist voter suppression measures, among others.The assault on the Smithsonian comes wrapped, as it were, as part of a broader attack on democracy, scenes of which we see playing out every day....

Politics

7 d. ago Trump signals he has ‘somebody I like’ to replace Lisa Cook, as Fed governor sues over removal – live

President’s comment comes amid reporting that he wants to quickly nominate a replacement as Cook resists attempt to force her outLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Politics

7 d. ago Trump’s attack on Fed shifts market bets on interest rates and inflation

Gap between long-term and short-term borrowing costs reaches its widest in three years

Economics