Federal Reserve Chair Jerome Powell spoke at the Large Banks Conference in Washington, D.C. on Tuesday amid criticism from President Trump.

Washington

Federal Reserve Chair Jerome Powell delivered remarks at a conference focused on capital frameworks for large banks. The event took place as calls for Powell to step down have increased, notably from President Trump and some lawmakers. 

Powell did not comment on the political pressure, consistent with the Federal Reserve's quiet period policy, which restricts officials from discussing monetary policy ahead of major decisions. The conference centered on the importance of capital requirements for banks, ensuring they maintain sufficient cash and debt to manage risks and serve clients effectively.

Powell speaks at Large Banks Conference amid Trump criticism

FED CHAIR JEROME POWELL IS IN WASHINGTON TODAY WHERE HE SPOKE AT A CAPITAL FRAMEWORK FOR LARGE BANKS CONFERENCE. POWELL'S REMARKS COME AS CALLS GROW FOR HIM TO STEP DOWN FROM PRESIDENT TRUMP AND FROM SOME LAWMAKERS AS WELL. NOW I WANT TO BRING IN CBS NEWS MONEY WATCH CORRESPONDENT KELLY O'GRADY. KELLY, NICE TO HAVE YOU TODAY. DID IT SURPRISE YOU THAT POWELL DID NOT COMMENT ON PRESSURE FROM TRUMP TO POTENTIALLY STEP DOWN? You know, not really. You know, Chair Powell, he tends to keep a very even keel. I'll also highlight that this is what we call the quiet period ahead of the Federal Reserve's interest rate decision that is going to come a week and a day, so a week from tomorrow. And basically, the quiet period means that all Federal Reserve chair and board members cannot comment on monetary policy, interest rates or anything like that. And so the fact that there is pressure from the White House around those particular areas, I think might be a little bit hairy. And it also gives the reason a reason for the Fed chair to sort of stay clear of all of those things. You know, it is interesting, though, this particular conference, it's about this capital structure when it comes to big banks. I know that most people at home are thinking like, oh, what a snore. Who cares about that? It's actually a really important discussion. It is about how much cash and debt these big banks are required to have on their balance sheet. And that becomes really important when you and I want to go and take large sums of money out from the bank to make sure that they have their risks managed properly, the cash on hand to serve their clients' needs. It tends to be, I think, a little bit nerdy, but that's really what this conference was about today versus more of the, I think, more prominently discussed interest rate decisions.

The U.S. Olympic & Paralympic Committee changed its eligibility rules on Monday, effectively barring transgender women from competing in Olympic women's sports. CBS News correspondent Elise Preston has more.

USOPC effectively bars transgender women from women’s sports

President Donald Trump says he's reached a trade deal with Japan that will set tariffs on Japanese imports at 15% and see Japan invest $550 billion into the U.S.

Global Tariffs

Trump says he's reached trade deal with Japan

Photos from Trump’s 1993 wedding and video footage from 1999 Victoria’s Secret fashion show shed light on the Trump-Epstein relationship.

New York

Photos show Jeffrey Epstein attended Trump’s wedding in 1993

Trump announced a new 19% tariff rate for goods from the Philippines after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House, and said U.S. goods would pay zero tariffs.

Trump says U.S. will charge 19% tariff on goods from Philippines

Deputy Attorney General Todd Blanche, who represented President Trump in his "hush money" case, announced he plans to meet with Jeffrey Epstein's former girlfriend and co-conspirator, Ghislaine Maxwell, as the push to release files related to Epstein's trafficking case continues.

Deputy attorney general seeks interview with Ghislaine Maxwell

Ozzy Osbourne, the hellraising frontman of Black Sabbath and reality TV star, has died aged 76. CNN’s Stephanie Elam looks back at the legendary career as the Godfather of Heavy Metal.

Los Angeles

Legendary singer Ozzy Osbourne dies at 76

During his Oval Office meeting with Philippine President Bongbong Marcos, President Donald Trump accused former President Barack Obama of treason for his handling of the investigation into Russian interference in the 2016 presidential election.

Trump accuses Obama of treason over 2016 election probe

A SkyWest flight, operating as a Delta connection, with 80 people on board made a sharp maneuver to avoid a B-52 bomber flying over the North Dakota State Fair. The FAA is investigating how the aircraft came so close.

Minot

Investigation underway after jet narrowly avoids Air Force bomber

A judge on Monday sentenced ex-Louisville police officer Brett Hankison to 33 months in prison and three years of subsequent supervised release, following the 2020 shooting death of Breonna Taylor.

Louisville

Judge sentences ex-officer in Breonna Taylor raid to nearly 3 years

A six-week-old infant and three other children have died of starvation in Gaza in the past 24 hours, local health officials said, with malnutrition and starvation now killing Palestinians faster than at any point in the 21-month war. This video includes images some may find distressing.

Jerusalem

Middle East Conflict

Medics say four Gaza children starve to death in hunger crisis

Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold a new round of peace talks on Wednesday. The announcement comes as Russian drones hit parts of Ukraine, officials said.

Kyiv

Ukraine Invasion

Zelenskyy says Russia, Ukraine to hold new round of peace talks

The Trump administration released thousands of records related to the assassination of Dr. Martin Luther King Jr., despite objections from his family. CBS News' Weijia Jiang has the latest.

Trump admin releases Martin Luther King Jr. assassination records

Students gather to protest in Bangladesh outside the school where a military jet crashed Monday, killing at least 30 people, including dozens of children.

Dhaka

Protests break out as death toll passes 30 in Bangladesh jet crash

CBS News has learned that a new assessment of the U.S. strikes on Iranian nuclear sites in June finds that only one of three facilities was possibly destroyed. CBS News senior national security correspondent Charlie D'Agata has the details.

Tehran

U.S. strikes may have destroyed one Iranian nuclear facility

For the first time, Taiwan has combined two major civil defense exercises and staged them in conjunction with its largest-ever military simulation. CNN’s Will Ripley explains why the self-governing island is bolstering its preparations for a potential war with China.

Taipei

Taiwan holds unprecedented military drills

With questions continuing around the so-called Epstein files, U.S. President Donald Trump has made several controversial social media posts. Some political scientists say the posts are likely a way to distract the public from talking about Trump’s past ties sex offender Jeffrey Epstein.

Trump posts fake AI video of Obama arrest amid Epstein furor

The next set of peace talks between Ukraine and Russia - the first meeting in seven weeks - is planned for Wednesday in Turkey, President Zelenskyy quoted the head of Ukraine's National Security and Defence Council as saying.

Zelenskyy says new peace talks planned for Wednesday

Israel’s latest offensive in Gaza is targeting humanitarian hub Deir al-Balah because officials believe Hamas is hiding hostages there. The move comes as 25 countries, including Canada, called for an immediate ceasefire and the resumption of aid.

Israeli offensive targets humanitarian hub of Deir al-Balah

A sweeping cyber espionage operation targeting Microsoft server software 'SharePoint' compromised about 100 different organizations as of the weekend, two of the organizations that helped uncover the campaign said on Monday (July 21).

Redmond

Microsoft server hack hit about 100 organizations, experts say

Protestors showed up at the federal courthouse in Boston on Monday amid Harvard's $2 billion legal battle with the Trump administration.

Boston

Protestors gather outside courthouse amid Harvard-Trump hearing

Malcolm-Jamal Warner, an actor and artist who rose to fame as a child as Theodore Huxtable on “The Cosby Show,” has died in a drowning accident in Costa Rica, where he was on vacation with his family, according to a source close to the actor.

‘The Cosby Show’ star Malcolm-Jamal Warner dead at 54

An off-duty U.S. Customs and Border Protection agent was shot after an apparent robbery went wrong in New York, officials say. New York Mayor Eric Adams said a 21-year-old undocumented immigrant was taken into custody. The agent is in stable condition and is expected to survive.

Off-duty Border Patrol agent shot in NYC by undocumented migrant

The jet crashed onto the campus of Milestone School and College in Dhaka's Uttara neighbourhood, where students were taking tests and attending regular classes.

At least 20 killed after Bangladesh Air Force jet crashes into school

An investigation into Jeju Air's fatal plane crash in December has found "clear evidence" that pilots shut off the less-damaged engine after a bird strike in South Korea, a source told Reuters. But a progress report was not released as planned, after families of the bereaved protested some of its phrasing.

Muan-gun

Report says pilot shut wrong engine before Jeju Air crash

Iran, China and Russia will discuss Tehran's nuclear activities and sanctions on Tuesday, with the E3 nations set for talks on Friday amid threats of reimposing sanctions.

Iran to consult with Russia, China ahead of European nuclear talks

Hundreds of Bedouin civilians were evacuated from Syria's predominantly Druze city of Sweida on Monday (July 21) as part of a U.S.-backed truce meant to end fighting that has killed hundreds of people, state media and witnesses said.

As Suwayda

Bedouin civilians evacuate Syria's Sweida as tense truce holds

Japanese Prime Minister Shigeru Ishiba vowed to remain in office on Monday after his ruling coalition suffered a bruising defeat in upper house elections, prompting some of his own party to deliberate his future as the opposition weighed a no-confidence motion.

Tokyo

Japan PM Ishiba vows to stay on after bruising election defeat

Police say Fernando Ramirez drove onto a crowded sidewalk outside a Los Angeles nightclub early Saturday, injuring dozens. He was later shot by a bystander who fled the scene, prompting a citywide search.

Police search for gunman after car-ramming attack in L.A.

Japan's ruling coalition is certain to lose control of the upper house in election, public broadcaster NHK reported, an outcome that further weakens Prime Minister Shigeru Ishiba's grip on power as a tariff deadline with the United States looms.

Japan's ruling coalition loses control of upper house

Iran's foreign minister has said the country France, Germany and the UK are looking to set a date for a meeting for nuclear talks, in what could be a step toward ending the protracted impasse over Iran's nuclear programme and Western concerns.

Breakdown