After asking a group of House Republicans on Tuesday if he should fire Federal Reserve Chair Jerome Powell, President Trump on Wednesday said it's unlikely Powell will be fired and he'll wait until the Fed chair's term is up next year.

Washington

President Trump has stated that it is unlikely he will fire Federal Reserve Chair Jerome Powell, following earlier remarks in which he raised the possibility of Powell's removal. Trump made the comments after meeting with House Republicans, where concerns were expressed about the Federal Reserve not lowering interest rates as the president prefers.

Although Trump had suggested he could dismiss Powell for cause, he later acknowledged that such a move could disrupt financial markets. Legal precedent also indicates that the president does not have the authority to remove the Fed chair before the end of his term. Powell, originally nominated by Trump and later re-nominated by President Biden, is expected to serve until his term concludes next year.

Trump says it's unlikely he'll fire Powell

Now, the latest on President Trump's pressure campaign against Federal Reserve Chairman Jerome Powell. Even though it's apparently illegal to fire a Fed chairman without cause, the president suggested yesterday that he was ready to try it. But then he backtracked, saying he will wait until Powell's term runs out next year. Ed O'Keefe is at the White House with what is at stake with all of this. Ed, good morning. Nate, good to see you. Good morning, everyone. President Powell appears safe for now after talk of his ouster during an Oval Office meeting on Tuesday night between the president and a handful of House Republicans. And CBS News first reported Trump broached the idea of ousting Powell, and according to multiple sources, the lawmakers agreed over concerns the Fed chairman's not cutting interest rates to juice the economy as the president would like. But in an interview on Wednesday with a conservative news outlet, the president conceded removing Powell could disrupt stock markets. Earlier, he had suggested he could fire Powell for cause, as he once again raised concerns about ongoing renovations at the Federal Reserve headquarters here in Washington that have run on for several years and now cost more than $2 billion. Remember, during his first term, Trump nominated Powell to his first four-year term. President Biden re-nominated Powell, and he is set to serve until next spring. As for whether or not the president can actually fire the chairman, well, the Supreme Court indicated in April that Trump doesn't have the power to remove him before his term is up because the Fed, by design, is a quote uniquely structured quasi-private entity. As for the president's criticism of Powell, that is most likely to continue. Gail. OK, everybody, grab a box of popcorn and stay tuned. Thank you very much, Ed.

Homeland Security Secretary Kristi Noem has suggested that TSA may soon end its restrictions on liquids in carry-on bags.

TSA may eliminate liquid restrictions on planes

A Tennessee judge on Thursday set Kilmar Abrego Garcia's criminal trial date for January 27, 2026. Abrego Garcia is facing human smuggling charges. CBS News justice correspondent Scott MacFarlane reports.

Tennessee

Judge sets Kilmar Abrego Garcia's criminal trial date for January 2026

White House press secretary Karoline Leavitt said Thursday that President Trump has been diagnosed with chronic venous insufficiency.

Trump diagnosed with chronic venous insufficiency

Black-box recording indicates that the flight's captain switched off fuel flow to both engines of the recently crashed Air India airplane, according to media reports on Wednesday, citing preliminary U.S. assessment of evidence.

Ahmedabad

Flight captain switched off fuel flow to engines in Air India crash

The Department of Justice has fired Maurene Comey, a federal prosecutor and the daughter of ex-FBI director James Comey. This comes as the White House tries to mitigate demands for the Jeffrey Epstein files to be released.

DOJ fires Maurene Comey, who helped prosecute Jeffrey Epstein

The Senate approved a $9.4 billion rescissions request, sending it back to the House of Representatives for approval.

Senate approves spending cuts to foreign aid, public broadcasting

Israel has faced international condemnation over its three days of airstrikes in Syria. The European Union and the United Nations have called for a return to calm, while Iran has urged countries in the region to respond against Israel.

Damascus

Middle East Conflict

World reacts to Israeli attacks on Syria’s Damascus

German Chancellor Friedrich Merz makes his first state visit to the United Kingdom to sign a historic defence cooperation treaty—the first of its kind between Germany and Britain since the Second World War. The agreement includes plans for joint defence efforts, boosting economic collaboration, and tackling illegal migration.

London

Germany and UK seal historic defence pact

Donald Trump says American-made weapons bought by NATO are being shipped to Ukraine. Trump's also threatening sanctions, saying his aim is to force Putin to negotiate an end to the war. But with Ukraine under nightly attack, there’s scepticism over whether he'll achieve anything.

Kyiv

Ukraine Invasion

U.S. ships NATO purchased Patriot missiles to Ukraine

Syria condemns Israel for fatal strikes on several government buildings in Damascus. The escalation threatens to disrupt new U.S.-brokered security talks between Israel and Syria, with both sides expressing concerns over stability in the region.

Israeli airstrikes on Syria threaten security talks

U.S. President Donald Trump is still dealing with fallout from his own supporters over his administration's handling of the Jeffrey Epstein files. CBS News Department of Justice reporter Jake Rosen has more.

Trump says Epstein conspiracy theory is hoax started by Democrats

Mexican President Claudia Sheinbaum said that she spoke with Canadian Prime Minister Mark Carney and that the two had agreed to strengthen trade collaboration, particularly in light of the tariffs from U.S. President Donald Trump set to go in effect on August 1.

Mexico City

Global Tariffs

Mexico plans to strengthen trade with Canada

Former President Barack Obama joined his wife, former first lady Michelle Obama, on her latest podcast episode with her brother Craig Robinson to address divorce rumors.

Obamas address divorce rumors on Michelle’s podcast

Israel struck Syrian military targets as well as central Damascus on Wednesday (July 16) as it continued its campaign to protect Druze minority communities in southern Syria.

Israel strikes Damascus as fighting rages in southern Syria

U.S. ambassador Mike Huckabee's appearance at Benjamin Netanyahu’s corruption trial follows President Trump's call for Israel to throw out the case or pardon the Israeli prime minister.

Tel Aviv-Yafo

U.S. ambassador attends Netanyahu trial to show support from Trump

President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were in the works as he continued to press for what he views as better terms with trading partners.

Trump eyes more trade deals soon as EU readies retaliation

At least 20 Palestinians were killed on Wednesday (July 16) at an aid distribution site run by the Gaza Humanitarian Foundation, in what the U.S.-backed group said was a crowd surge instigated by armed agitators. This video contains graphic images.

Jerusalem

Crush at Gaza aid site kills at least 20, GHF blames agitators

Police in Los Angeles have arrested a 22-year-old suspect in the double homicide of American Idol executive Robin Kaye and her husband, Thomas Deluca. The couple, both 70 years old, was found shot to death in their home earlier this week.

Encino

Police make arrest in murders of American Idol executive, husband

Streaming shows dominated nominations for the 2025 Emmy Awards. "Severance" earned the most series nominations with 27. Meanwhile, "The Studio" earned the most-ever nominations for a debut comedy series with 23.

Hollywood

'Severance' and 'The Studio' earn top Emmy nominations

The United Torah Judaism party has decided to quit Prime Minister Benjamin Netanyahu's ruling coalition over its failure to secure military service exemptions. Members of the ultra-orthodox community have been exempted from enlisting in the army since 1948.

Major cracks in Netanyahu coalition as ultra-Orthodox party quits

New information about the Jeffrey Epstein case may soon be made public after a reversal from U.S. President Donald Trump and weeks of criticism — the loudest of which has come from within the MAGA movement.

Epstein files may be released after Trump reversal

Russia's Vladimir Putin has rejected President Trump's ultimatum for Moscow to sign a ceasefire deal with Ukraine in the next 50 days. Trump has threatened to issue a 100% tariff on any country that does business with Russia if no ceasefire deal is reached.

Moscow

Russia rejects Trump's ultimatum for ceasefire in Ukraine

Fighting has erupted in the southern Syrian city of As Suwayda just six hours after a ceasefire was announced. Earlier on Tuesday, Syrian government forces withdrew heavy vehicles from the city, hoping to ease tensions.

As Suwayda

Fighting erupts in Syria’s As Suwayda hours after ceasefire deal

Two laptops and hard drives containing watermarked and unreleased music by Beyoncé were stolen from her choreographer’s rental car in Atlanta, according to police.

Atlanta

Unreleased Beyoncé music stolen from choreographer’s rental car

The House Committee on Education and Workforce is holding its ninth hearing in 18 months on antisemitism on college campuses. CBS News' Shanelle Kaul has more details.

Anger at House committee hearing on antisemitism in college campuses

An Air India Boeing airplane crashed in northwestern India in June, killing all people on board but one passenger. India's aviation regulator has now ordered airlines to examine fuel control switches on several Boeing models.

New Delhi

India orders airlines to inspect Boeing airplane models after crash

Controversy on Capitol Hill over the so-called Epstein Files is seemingly not going away anytime soon.

House Republicans block Democratic push to release Epstein documents

An Israeli scheme to move hundreds of thousands of already uprooted Palestinians to a so-called "humanitarian city" in Gaza has led politicians to spar with the defense establishment. Critics inside and outside Israel have denounced the proposal.

Critics slam Israeli scheme to move Gazans to 'humanitarian city'

At least two people were killed in a New Jersey flash flooding event, Gov. Phil Murphy said Tuesday morning as heavy rains are expected to continue battering the Northeast. CBS News' Rob Marciano has more details.

New Jersey

Two killed in New Jersey flash flooding

After over a week of negotiations in Doha, a truce in Gaza remains elusive, despite intensified efforts by mediators. The stalemate continues as both Hamas and Israel trade blame over ongoing strikes.

Breakdown