Kevin Warsh, former governor of the US Federal Reserve, walks to lunch during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Wednesday, July 9, 2025. The annual event has been a historic breeding ground for media deals and is usually a forum for tech and media elites to discuss the future of their industry. (Photographer: David Paul Morris/Bloomberg via Getty Images)
(WASHINGTON) — President Donald Trump announced conservative economist and former Fed governor Kevin Warsh as his pick to be the new Federal Reserve chairman.
In a post on Truth Social early Friday morning, Trump said that he has “known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.”
“He will never let you down,” Trump continued.
Warsh previously served on the Fed’s board of governors from 2006 to 2011. He was a top adviser to then-Fed chairman Ben Bernanke during the 2008 financial crisis, serving as a liaison between the central bank and Wall Street. During that time, he was an inflation “hawk” — skeptical of the Fed’s ultra-low interest rate policy. But in more recent interviews, Warsh has heaped praise on Trump and called for “regime change” at the Fed.
On Thursday, Trump said that he had “chosen a very good person” while walking the carpet at the Kennedy Center ahead of the premiere of the documentary about first lady Melania Trump.
Trump said his pick to replace current Chairman Jerome Powell is an “outstanding person and a person that won’t be too surprising to people.”
“A lot of people think that this is somebody that could have been there a few years ago,” Trump went on. “It’s going to be somebody that is very respected, somebody that’s known to everybody in the financial world. And I think it’s going to be a very good choice.”
Trump has repeatedly attacked Powell over the past year for his cautious approach to lowering interest rates.
Powell’s term as chairman expires in May.
Earlier this month, in an extraordinary escalation of the months-long attack on the independence of the Federal Reserve, Powell announced that federal prosecutors had launched a criminal investigation related to a multi-year renovation of the Fed’s headquarters in Washington, D.C.
Earlier this week, at its first meeting since news of the investigation surfaced, the Federal Reserve voted to hold interest rates steady.
Trump said that the Fed governors who voted earlier this week to pause interest rates will change their minds once there is a new chair.
“If they respect the Fed chairman, they’ll be with us all the way,” Trump said. “They want to see the country be great.”
U.S. President Donald Trump’s son-in-law Jared Kushner speaks after the President held a signing ceremony for the “Board of Peace” at the World Economic Forum (WEF) on January 22, 2026, in Davos, Switzerland. The US-backed “Board of Peace” is intended to administer the fragile ceasefire in the Gaza Strip after the war between Israel and Hamas. The final makeup of the board has not been confirmed. (Photo by Chip Somodevilla/Getty Images)
(WASHINGTON) — Jared Kushner, the president’s son-in-law and a real estate developer, on Thursday unveiled some of the Trump administration’s “master plan” for rebuilding war-torn Gaza that includes waterfront developments and other luxury buildings.
Kushner, whop spoke alongside President Donald Trump at his Board of Peace signing in Davos, Switzerland, said the plans for Gaza will emulate what other newly redeveloped Middle Eastern cities will look like.
Kushner, who has been part of the Gaza peace negotiations, suggested the construction would be done in just two or three years. The Board of Peace estimates that the plan would require more than $25 billion to develop modern utilities and public services.
“We’ve developed ways to redevelop Gaza. Gaza, as President Trump’s been saying, has amazing potential, and this is for the people of Gaza,” he said.
Kushner, who showed slideshows with concept art of his “master plan” said that the plan includes development done in zones.
“In the beginning, we were toying with the idea of saying, Let’s build a free zone, and then we have a Hamas zone. And then we said, You know what? Let’s just plan for catastrophic success. We have mass signed a deal, demilitarized. That is what we are going to enforce,” he said.
Kushner displayed a “master Plan” that depicts four phases: Rafah, or “city 1”; Khan Younis or “city 2”; Center Camps or “city 3”; and Gaza City or “city 4.”
In “New Rafah,” Kushner put up a slide that claims there will be over 100,000 permanent housing units, 200 education centers, 180 cultural, religious and vocational centers and 75 medical facilities.
A section shows “coastal tourism” with 170 towers with areas for residential areas and industrial complex data centers and advanced manufacturing behind it, split up by parks, agriculture and sports facilities.
The “coastal tourism” renderings show flashy high-rises, hotels and luxury villas on shimmering waters.
Kushner said the next 100 days will be focused on sending humanitarian aid into the Gaza Strip, with quantities consistent with what was included in the January 19, 2025, agreement regarding humanitarian aid, including rehabilitation of infrastructure (water, electricity, sewage), rehabilitation of hospitals and bakeries, and entry of necessary equipment to remove the estimated 68 million tons of rubble and to open roads.
“We continue to be focused on humanitarian aid, a humanitarian shelter, but then creating the conditions to move forward,” he said.
Increasing the amount of humanitarian aid entering the Gaza Strip is a key element of the overall ceasefire deal. While international aid organizations have reported being able to operate more freely in parts of Gaza where Israeli troops have withdrawn, it is hard to quantify how much aid has entered the strip since Oct. 10, when the first phase of the ceasefire deal went into effect.
International aid organizations still report more aid is needed across the Strip – from food to medical supplies to shelter.
Winter storms have made the situation on the ground in Gaza even more difficult, as heavy rains have caused flooding in displacement camps and lower temperatures have made living conditions even more difficult. About 1 million Palestinians currently need shelter assistance, according to the UN. Ten children have died of the cold, the Hamas-run Gaza Ministry of Health has said.
The 100 Day plan also accounts for reconstruction, suggesting improved temporary housing in transition until permanent housing is ready, a Trump economic development plan to rebuild and energize Gaza will be created, synthesize the security and governance frameworks to attract and facilitate these investments that will “create jobs, opportunity, and hope for future Gaza,” according to Kushner.
A special economic zone would be established, with preferred tariff and access rates to be negotiated with participating countries, he added.
Kushner said that many of the funds for this project will come from the private sector, touting “amazing investment opportunities.”
Trump, who also spoke at the conference, contended the war in Gaza “was really coming to an end” and praised the redevelopment plan.
“I’m a real estate person at heart, and it’s all about location, and I said, look at this location on the sea, look at this beautiful piece of property, what it could be for so many people,” he said.
“People that are living so poorly are going to be living so well,” he added.
Over 90% of residential buildings in Gaza have been destroyed or damaged since the Oct. 7, 2023, attacks and subsequent war that followed, according to the UN.
While the ceasefire has largely held, there have been intermittent incidents of violations from both sides. At least 483 people have been killed since the first phase of the ceasefire went into effect, the Hamas-run Gaza Government Media Office said.
Last year, Trump boasted that the U.S. would “take over” the Gaza Strip, “level the site” and rebuild it.
When asked by a reporter during the Feb. 4, 2025, during a White House news conference with Israel Prime Minister Benjamin Netanyahu if Palestinians relocated would have the right to return, Trump responded, “Why would they want to return?”
When another reporter asked who would live in Gaza, Trump responded, “the world’s people,” saying, “the potential in the Gaza Strip is unbelievable.”
“History, as you know, just can’t let it keep repeating itself. We have an opportunity to do something that could be phenomenal. And I don’t want to be cute. I don’t want to be a wise guy. But the Riviera of the Middle East, this could be something that could be so … magnificent,” the president said during the news conference.
The president was criticized later that month over a AI generated video that he shared on social media that depicted him and Netanyahu sunbathing in a location dubbed “Trump Gaza,” which showed a luxury resort.
U.S. Sailors prepare ordnance on the flight deck of Nimitz-class aircraft carrier USS Abraham Lincoln in support of Operation Epic Fury, Mar. 4, 2026. (US Navy)
(WASHINGTON) — Russian officials denied in a phone call with President Donald Trump that they are sharing intelligence on U.S. military assets with Iran, U.S. special envoy Steve Witkoff said Tuesday.
“We can take them at their word,” Witkoff said during an interview with CNBC. “That’s a better question for the intel people, but let’s hope that they’re not sharing.”
Trump spoke with Russian President Vladimir Putin Monday for about an hour.
“Yesterday on the call with the president, the Russians said that they have not been sharing. That’s what they said,” Witkoff said.
White House press secretary Karoline Leavitt told reporters Tuesday that Trump and Witkoff sent a message to Russia that “if that was taking place. It’s not something they would be happy with, and they hope that it is not taking place.”
“As for further details about the discussions between these two leaders, I’ll leave it to the president to divulge any more of that conversation,” Leavitt said.
ABC News reported on Friday that the U.S. believes that Russia has been providing Iran the locations of American troops in the Middle East, including aircraft and ships, according to two people familiar with the intelligence.
An intelligence official confirmed to ABC News the U.S. belief that Russia is providing intelligence to Iran but did not say exactly what type of information was being shared.
The intelligence sharing could enable the Iranians to target specific locations with ballistic missiles and drones, putting U.S. service members at risk.
Trump himself downplayed Russia’s involvement during a news conference Monday in Florida.
“… he wants to be helpful,” Trump said of Putin and his involvement with Iran.
Putin has been a firm supporter of Iran as the conflict has unfolded. Putin congratulated the country’s new Supreme Leader Mojtaba Khamenei and said in a statement that he reaffirmed Russia’s “unwavering support for Tehran and our solidarity with Iranian friends” in a letter put out by the Kremlin.
Trump said that Putin was “very impressed” with Operation Epic Fury.
“We talked about that with President Putin. He was very impressed with what he saw because nobody’s ever seen anything quite like it,” Trump later added in the news conference.
Over the weekend, Trump said any intelligence sharing between Russia and Iran was inconsequential.
“If you take a look at what’s happened to Iran in the last week, if they’re getting information, it’s not helping them much,” Trump told reporters on Air Force One as he flew to Miami.
Senator Mark Kelly, a Democrat from Arizona, arrives for an all-Senate briefing at the US Capitol in Washington, DC, US, on Tuesday, Dec. 16, 2025. Graeme Sloan/Bloomberg via Getty Images
(WASHINGTON) — Defense Secretary Pete Hegseth, in a post on X, said the Pentagon will hold Democratic Sen. Mark Kelly accountable under the military code of justice for “conduct [that] was seditious in nature,” referring to a video Kelly participated in that told United States service members they have a right to refuse unlawful orders.
This is a developing story. Please check back for updates.
