NEW - Bessent says "formal process" underway to pick Powell successor as Powell's term nears its end in 2026

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The Trump Administration Is About to Burn 500 Tons of Emergency Food

Nearly 500 metric tons of high-energy biscuits—enough to feed 1.5 million children for a week—are set to be incinerated after months of inaction by the Trump administration.

Purchased by USAID for $800,000 during the Biden administration and stored in Dubai, the biscuits were intended for children in Afghanistan and Pakistan.

But since January, a sweeping freeze on foreign aid and the dismantling of USAID under the new Department of Government Efficiency has paralyzed efforts to distribute them.

Despite repeated internal warnings, no approval was granted to move the food. By the time Secretary of State Marco Rubio assured Congress in May that the aid would be delivered, the destruction order had already been signed. The burn will cost taxpayers an additional $130,000.

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Israeli forces let dozens of Druze cross the border fence in the Majdal Shams area and run into Syrian territory.

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NEW: Jamie Dimon says JPMorgan will enter the stablecoin space “to understand it, to be good at it” as Citi and BofA explore similar moves

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NEW - Nikki Haley calls for Trump to "release the Epstein files and let the chips fall where they may."

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BREAKING - Trump on Epstein files: 'I would say these files were made up by Comey and made up by Obama, made up by the Biden..'

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Mogadishu? Nope. Minneapolis

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NEW - European Central Bank is "accelerating the pace" to roll out the "digital Euro" CBDC by October this year

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Trump:

At the end of 50 days, if we don't have a deal. It is going to be "too bad". The tariffs and other sanctions will go on.

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JUST IN: Foreign Minister Sergey Lavrov says Russia is not concerned about US Trump's threats against BRICS

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Trump:

We are going to see what happens with Putin. So far I have been very disappointed with Putin.

I solved a lot of wars in the last three months. But I have not gotten this one yet.

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JUST IN: Ex-Goldman exec says crypto regulation will unlock “trillions” and help the U.S. “solve the deficit”

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Trump on his deal with Indonesia:

Indonesia has committed to purchasing $15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777’s.

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What happened to Minneapolis?

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