In our news wrap Friday, the Justice Department is dropping its criminal probe into Federal Reserve Chair Jerome Powell, a federal appeals court ruled that President Trump’s executive order banning asylum claims at the U.S. southern border is illegal and the FDA said it will fast-track reviews for three psychedelic drugs aimed at treating mental health conditions.
Geoff Bennett:
In the day’s other headlines: The Justice Department is dropping its criminal probe into Federal Reserve Chair Jerome Powell over whether he lied to Congress about renovations at the Fed’s headquarters.
Instead, the U.S. attorney for the District of Columbia, Jeanine Pirro, said the Fed’s inspector general would be looking into cost overruns at the site. The announcement opens a pathway for Kevin Warsh to be confirmed as Powell’s successor. Earlier this week, Republican Senator Thom Tillis threatened to block his nomination unless the DOJ dropped its investigation.
At the White House today, Press Secretary Karoline Leavitt urged Tillis to move forward.
Karoline Leavitt, White House Press Secretary:
Senator Tillis should do the right thing and move to confirm Kevin Warsh as speedily as possible. He is a phenomenal candidate to lead the Fed and we shouldn’t be holding our nation’s economy hostage because of a disagreement with the Department of Justice.
Geoff Bennett:
The DOJ investigation of Powell unfolded against the backdrop of President Trump’s repeated criticism of the Fed chair for not lowering interest rates faster.
A federal appeals court ruled today that President Trump’s executive order banning asylum claims at the U.S. southern border is illegal. The three-judge panel found that immigration law gives people the right to apply for asylum and the president cannot override those procedures.
It marks the latest setback to Mr. Trump’s broader immigration crackdown. The administration can now either ask the full appeals court to reconsider the ruling or take its case to the Supreme Court.
The FDA said today it will fast-track reviews for three psychedelic drugs aimed at treating mental health conditions, including depression and PTSD. Two of the therapies involved the active ingredient in so-called magic mushrooms, while a third is based on MDMA, a substance commonly associated with Ecstasy.
The move follows an executive order signed by President Trump to accelerate research and ease some restrictions on these drugs.
In Northern Oklahoma, residents sifted through what was left of their homes today after suffering a direct hit from a powerful tornado. Eyewitnesses captured the massive twister tearing a path across the countryside yesterday. Others caught footage of debris swirling through the air as the tornado tracked near Vance Air Force Base.
The storm looked just as menacing from above. An airline passenger posted this video of lightning in the darkness. By daybreak, the storm’s devastation was clear, dozens of homes reduced to rubble. It was a miracle that there were no fatalities reported, but only minor injuries.
Meantime, in Southeast Georgia:
Jennifer Drawdy, Waynesville, Georgia, Resident:
It’s so emotional because so many people has lost their homes. I have lived in this community for 41 years. It’s my home. I grew up here. I went to school here. And I may not know everybody, but my heart breaks.
Geoff Bennett:
Residents in Brantley County, Georgia, sized up the damage as wildfires forced hundreds of new evacuations there. Georgia’s Governor Brian Kemp said two large wildfires in the state have destroyed more than 120 homes so far and are threatening nearly 1,000 more.
State officials believe these fires have burned more homes than at any other time in Georgia’s history.
A union for a Spirit Airlines employee said today that any federal bailout of the bankrupt carrier must protect workers from layoffs. That follows reports that the Trump administration is in talks to offer half-a-billion dollars in financing in exchange for some 90 percent control of the airline.
At the White House yesterday, President Trump even floated the idea of buying the airline outright. A lawyer for the carrier says liquidation could cost as many as 17,000 jobs. Spirit had hoped to emerge from bankruptcy later this year, but a spike in fuel costs tied to the Iran war has complicated those plans.
Israeli Prime Minister Benjamin Netanyahu said today he has received treatment for prostate cancer and is now healthy. It’s the first time he’s publicly acknowledged the diagnosis. The 76-year-old says he had prostate surgery almost two years ago and that a more recent tumor was successfully treated with radiation therapy. He asked that a public announcement be delayed due to the war with Iran.
On Wall Street today, stocks ended mixed amid ongoing uncertainty over the war. The Dow Jones industrial average fell about 80 points. The Nasdaq jumped nearly 400 points. The S&P 500 also closed out the weak in positive territory.
