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The US Justice Department announced Friday it was releasing millions of new pages from the Jeffrey Epstein files along with photos and videos, adding fuel to a political drama that has put pressure on President Donald Trump.Deputy Attorney General Todd Blanche said more than three million pages of documents related to the convicted sex offender were being published on a department website along with 180,000 images and 2,000 videos.”Today’s release marks the end of a very comprehensive document identification and review process to ensure transparency to the American people,” Blanche said at a press conference.He said all images of girls and women were being redacted aside from those of Ghislaine Maxwell, who was convicted of trafficking underage girls for Epstein and is serving a 20-year prison sentence.”We did not redact images of any men unless it was impossible to redact the woman without also redacting the man,” the deputy attorney general said.The latest release is expected to contain previously unseen material from the investigation into Epstein, a wealthy US financier who died in a New York jail in 2019 while awaiting trial for sex trafficking of underage girls. His death was ruled a suicide.Previous releases have shed light on Epstein’s ties to leading business executives, celebrities, academics and politicians, including Trump and former president Bill Clinton.Perhaps the most significant documents published so far are two FBI emails from July 2019 which mention 10 “co-conspirators” of Epstein.Only one person — Epstein’s former girlfriend Maxwell — has ever been charged in connection with his crimes and the names of the alleged co-conspirators are redacted from the emails.According to Axios, major documents which have not been released yet include a draft 60-count federal indictment of Epstein that was inexplicably quashed, and an 82-page prosecution memo from 2007.Trump, a one-time close friend of Epstein, and Clinton both figure prominently in the records published so far, but neither has been accused of any wrongdoing.A Republican-led House panel recently voted to launch contempt of Congress proceedings against Bill and Hillary Clinton over their refusal to testify before its probe into Epstein.Trump, 79, fought for months to prevent release of the vast trove of documents about Epstein.But a rebellion inside his Republican Party forced him to sign off on a law mandating release of all the documents.- ‘We did not protect President Trump’ -The Epstein Files Transparency Act (EFTA) called for all of the documents held by the Justice Department to be published by December 19.Blanche said Friday’s release brings the Justice Department in compliance with the act and he blamed the delay on the need to painstakingly carry out redactions that protected the identities of Epstein’s more than 1,000 victims.The sweeping redactions across many of the documents — combined with tight control over the release by the Trump administration — have stoked allegations of a potential high-level cover-up.Blanche, Trump’s former personal lawyer, rejected allegations the Justice Department was seeking to protect the president.”We complied with the act,” he said. “We did not protect President Trump. We didn’t protect or not protect anybody.”He said the White House played no role in the review of the files.”They had no oversight over this review,” he said. “They did not tell this department how to do our review, what to look for, what to redact, what to not redact.”As soon as the president’s name began surfacing in the released files, the Justice Department issued a statement saying that some documents “contain untrue and sensationalist claims made against President Trump.”But the documents already released confirm that Trump was once close to Epstein.They moved in the same social circles in New York and Florida and documents confirm Trump flew multiple times on Epstein’s private jet. A January 2020 note from New York federal prosecutors who were investigating Maxwell had Trump making eight trips on Epstein’s plane between 1993 and 1996.Trump has given varying accounts of why he eventually fell out with Epstein. He has criticized the file dumps, expressing concern that people who “innocently met” Epstein over the years risked having their reputations smeared.A spokesman for Clinton has urged the Justice Department to release all materials in the files related to the former president, saying he had nothing to hide.

Gold and silver prices dived Friday, European stock markets ended the week up while Wall Street fell slightly with investors reassured by US President Donald Trump’s pick to take over as head of the Federal Reserve.The precious metals, viewed as safe-haven investments, had already begun sliding on reports, later confirmed, that Trump had nominated former Fed official Kevin Warsh to replace Jerome Powell as chair of the US central bank.Trump confirmed his choice Friday on Truth Social.”I have 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,” Trump wrote on his social media platform.”On top of everything else, he is ‘central casting,’ and he will never let you down.” Kathleen Brooks, research director at XTB trading group, said the “interesting pick… may give the market some hope that Fed independence will be preserved”.Trump’s personal attacks on Fed boss Jerome Powell — set to depart in May — have fuelled widespread fears among investors that the central bank’s policy independence is under threat, potentially posing an inflation risk to the US economy.- A rollercoaster week -Precious metals prices tumbled on Friday after surging in recent days when investors sought a safe haven over doubts about Trump’s policies.Gold was down more than eight percent below $5,000 an ounce after reaching a record high of $5,595.47 Thursday.Silver, which Thursday reached an all-time peak above $120 an ounce, shed 20 percent meanwhile in sliding down to $90 an ounce. Financial markets have endured a rollercoaster ride this week as traders weathered a weaker dollar, Trump’s threats against Tehran, the president’s resumption of tariff threats and a possible US government shutdown.Asian stock markets closed out the week with some hefty losses following Thursday’s tech-led retreat on Wall Street on renewed concerns over vast investments in artificial intelligence.Healthy earnings from Meta, Samsung and SK Hynix provided much cheer early in the week but on Thursday, after Microsoft announced a surge in spending on AI infrastructure, that revived concerns that companies could take some time before seeing a return on their investments.There are fears that firms’ valuations may be a little too stretched and that markets could be in a bubble, having soared in recent years to record highs on the back of a tech-fuelled rally.Oil prices regained their poise after an early fall Friday, having surged the day before as Trump ramped up geopolitical tensions with threats of a military strike on Iran.”The building tensions between Iran and the US have driven Brent crude prices to a six-month high,” said Megan Fisher, assistant economist at Capital Economics.”That said, we think that the historical example of last year’s 12-day war (between Iran and Israel with US involvement), and a well-supplied oil market, will still bear down on Brent crude prices by end-2026.”- Key figures at around 1650 GMT -New York – Dow: DOWN 0.7 percent at 48,684.32 pointsNew York – S&P 500: DOWN 0.4 percent at 6,940.69New York – NASDAQ Composite: DOWN 0.5 percent at 23,561.52London – FTSE 100: UP 0.5 percent at 10,223.54 (close) Paris – CAC 40: UP 0.7 percent at 8,126.53 (close)Frankfurt – DAX: UP 1.0 percent at 24,515.73 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 53,322.85 (close)Hong Kong – Hang Seng Index: DOWN 2.1 percent at 27,387.11 (close)Shanghai – Composite: DOWN 1.0 percent at 4,117.95 (close)Euro/dollar: DOWN at $1.1875 from $1.1962 on ThursdayPound/dollar: DOWN at $1.3716 from $1.3800Dollar/yen: UP at 154.33 yen from 153.04 yenEuro/pound: DOWN at 86.58 pence from 86.67 penceBrent North Sea Crude: UP 0.2 percent at $70.89 per barrelWest Texas Intermediate: UP 0.6 percent at $65.93 per barrel

The US Justice Department announced Friday it was releasing more than three million pages from the Jeffrey Epstein files along with photos and videos, adding fuel to a political drama putting pressure on President Donald Trump.Deputy Attorney General Todd Blanche said all images of women were redacted from the documents being released aside from those of Ghislaine Maxwell, the accomplice of the convicted sex offender.The latest release is expected to contain previously unseen material from the investigation into Epstein, a wealthy US financier who died in a New York jail in 2019 while awaiting trial for sex trafficking underage girls.Previous releases have shed light on Epstein’s ties to leading business executives, celebrities, academics and politicians, including Trump and former president Bill Clinton.Perhaps the most significant documents published so far are two FBI emails from July 2019 which mention 10 “co-conspirators” of Epstein.Only one person — Epstein’s former girlfriend Maxwell — has ever been charged in connection with his crimes and the names of the alleged “co-conspirators” are redacted from the emails.Maxwell is serving a 20-year prison sentence for recruiting underage girls for Epstein, whose death was ruled a suicide.According to Axios, major documents which have not been released yet include a draft 60-count federal indictment of Epstein that was inexplicably quashed, and an 82-page prosecution memo from 2007.Trump, a one-time close friend of Epstein, and Clinton both figure prominently in the records published so far but neither has been accused by officials of any wrongdoing.A Republican-led House panel has voted to launch contempt of Congress proceedings against Bill and Hillary Clinton over their refusal to testify before its probe into Epstein.Trump, 79, fought for months to prevent release of the vast trove of documents about Epstein.But a rebellion inside his Republican Party forced him to sign off on a law mandating release of all the documents.The Epstein Files Transparency Act (EFTA) called for all of the documents held by the Justice Department to be released by December 19.- ‘Sensationalist’ -The department missed that deadline. Blanche has blamed the delay on the need to painstakingly redact the identities of Epstein’s more than 1,000 victims from the files.The sweeping redactions across many of the documents — combined with tight control over the release by the Trump administration — have stoked skepticism that conspiracy theories of a high-level cover-up will be silenced.As soon as the president’s name began surfacing in the released files, the Justice Department issued a statement saying that some documents “contain untrue and sensationalist claims made against President Trump.”But the documents already released confirm that Trump was once close to Epstein.They moved in the same social circles in New York and Florida and documents confirm that Trump flew multiple times on Epstein’s private jet. A January 2020 note from New York federal prosecutors who were investigating Maxwell had Trump making eight trips on Epstein’s plane between 1993 and 1996.Trump has given varying accounts of why he eventually fell out with Epstein. He has criticized the file dumps, expressing concern that people who “innocently met” Epstein over the years risked having their reputations smeared.A spokesman for Clinton has urged the Justice Department to release all materials in the files related to the former president, saying he had nothing to hide.”Someone or something is being protected. We do not know whom, what or why. But we do know this: We need no such protection,” Angel Urena said.

US senators scrambled Friday to pass a deal backed by President Donald Trump to limit the effects of a government shutdown set to begin within hours, after Democratic anger over the killing of two protesters by immigration agents derailed funding talks.Congress is racing against the clock as funding for large parts of the federal government expires at midnight, triggering a now unavoidable stoppage — at least through the weekend — even if senators manage to approve the compromise later in the day.The fatal shootings of Alex Pretti and Renee Good in Minneapolis have become the central fault line in the budget fight, with Democrats refusing to support new funding for the Department of Homeland Security (DHS) without changes to immigration enforcement tactics, which they say have become dangerously aggressive.Under the deal, negotiated by Trump and Senate Democratic leaders, Congress would pass five long-stalled spending bills to fund most of the federal government through the end of the fiscal year in September. Funding for DHS — which oversees immigration enforcement — would be split off and covered instead by a two-week stopgap measure, giving lawmakers time to renegotiate the department’s budget and oversight provisions.Trump publicly endorsed the agreement and urged lawmakers from both parties to support it, signaling he wanted to avoid a second disruptive shutdown of his presidency. Much of the US media interpreted the White House’s new flexibility as a recognition that it needed to moderate its approach to deportations following the Minneapolis killings.But Senate rules requiring unanimous consent to fast-track legislation quickly complicated the plan.Late Thursday, Republican Senator Lindsey Graham of South Carolina blocked the package from advancing, forcing the Senate to adjourn without a vote. Graham objected to language repealing a previously approved provision that would have allowed senators to sue the government for damages if their phone records were seized during a Justice Department investigation several years ago.- ‘Snags on both sides’ -He also raised concerns about funding DHS for only two weeks rather than the remainder of the fiscal year, arguing that the short extension would mean further uncertainty.Republican Majority Leader John Thune told reporters there were procedural “snags on both sides,” while Minority Leader Chuck Schumer blamed Republicans for preventing swift passage of the deal.Even if the Senate approves the compromise on Friday, a brief shutdown is still inevitable. The House of Representatives is on recess and not due back until Monday, meaning it cannot immediately vote on the legislation. Speaker Mike Johnson said the House intends to move forward once it receives the package from the Senate, but internal divisions among Republicans could complicate that process.A prolonged partial shutdown would affect a wide range of federal operations. Although Congress has already passed six of the 12 annual funding bills, those measures account for only a small minority of discretionary spending. The remaining bills fund more than three-quarters of the government.Democrats have remained united in opposing the DHS funding bill without reforms following the Minneapolis shootings, which have intensified scrutiny of federal immigration agents’ conduct. Party leaders say the two-week stopgap is intended to force negotiations over new guardrails, including tighter rules on warrants and limits on certain enforcement tactics.Some Republicans have acknowledged the need for changes in the wake of the killings, while others argue Democrats are exploiting the funding deadline to constrain immigration enforcement. Conservatives have signaled they will push their own priorities during the upcoming DHS talks, including measures targeting so-called “sanctuary cities” that refuse to cooperate with federal immigration enforcement.With hours remaining before funding lapses, Senate leaders were still trying to secure agreement from all 100 senators to move the Trump-backed deal quickly. 

The Trump administration said Friday that it had ordered the arrest of a prominent journalist over coverage of immigration protests in Minneapolis, as the president branded a nurse shot dead by federal agents in the city an “agitator.”The arrest of former CNN anchor Don Lemon came as President Donald Trump walked back his conciliatory tone following public outrage over the killings of Alex Pretti, a veterans’ hospital nurse, and another American citizen in Minneapolis.Attorney General Pam Bondi said in a post on X that Lemon and several other people had been arrested “at my direction” on unspecified federal charges in connection with what she called a “coordinated attack” on the Cities Church in St. Paul, the twin city of Minneapolis.Lemon, now an independent journalist, was among the reporters who covered a protest against the immigration crackdown at the church where an official with the Immigration and Customs Enforcement (ICE) agency is a pastor.Lemon’s lawyer said he was taken into custody in Los Angeles overnight, adding that his work covering the protest “was no different to what he has always done.”A magistrate judge in Minnesota had declined last week to charge Lemon.Trump took to Truth Social meanwhile to describe Pretti, the 37-year-old nurse gunned down on Saturday, as an “agitator and, perhaps, insurrectionist.””Alex Pretti’s stock has gone way down with the just released video of him screaming and spitting in the face of a very calm and under control ICE Officer,” Trump wrote.Footage shared online this week reportedly shows Pretti in a scuffle with federal agents 11 days before he was shot dead.AFP could not immediately verify the footage, in which a man said to be Pretti is seen kicking and breaking the taillight of the agents’ car before they emerge and tackle him to the ground.- Government shutdown -The White House had scrambled to stem widespread outrage over Pretti’s killing, which came weeks after Renee Good, another US citizen and mother of three, was fatally shot by agents in Minneapolis.Trump claimed he wanted to “de-escalate a little bit” in the fallout of the killings and appointed a new point man in Minneapolis, border chief Tom Homan, who said on Thursday that some federal agents could be withdrawn from the city.Trump sent Homan to Minnesota to take control of immigration operations with orders to report directly to him, effectively sidelining Homeland Security chief Kristi Noem.Homan said at his first news conference in the Minnesota city on Thursday that “certain improvements could and should be made,” a marked difference in tone from his predecessor on the ground, combative Border Patrol commander Greg Bovino.Homan said his staff was “working on a drawdown plan” for some of the more than 3,000 federal agents who have been taking part in “Operation Metro Surge” contingent on receiving greater cooperation from the local authorities in the Democratic-run city.The two agents involved in Pretti’s shooting have been placed on leave, and Homan said any federal agents who breach standards of conduct “will be dealt with.”Backlash over the deaths of Pretti and Good has landed in Congress, with the Senate edging closer to a vote on Friday to limit the effects of a government shutdown set to begin at midnight.Democrats have drawn a red line around funding for the Department of Homeland Security, demanding it be stripped out and renegotiated to impose new constraints on immigration enforcement agencies.

US President Donald Trump has unveiled his pick for the next Federal Reserve chief — former central bank governor Kevin Warsh — setting in motion a key shift in the institution’s leadership.Powell’s chairmanship ends in May, and his successor will need to establish credibility despite political pressure, while walking a policy tightrope between curbing inflation and supporting a weakened jobs market.Warsh emerged as Trump’s choice early Friday, after a race that had narrowed to him, Fed governor Christopher Waller, Rick Rieder of BlackRock and Trump’s chief economic advisor Kevin Hassett.Trump during his first term considered Warsh for Fed chair as well, but eventually decided on Powell.What are the biggest tests awaiting Trump’s nominee?- Credibility -The president has drastically escalated his targeting of the central bank, trying to reshape its leadership by moving to fire a Fed governor while calling repeatedly for interest rates to be slashed.His Justice Department also launched an investigation into Powell over renovations at the Fed’s headquarters, in a move that Powell warned could threaten Fed independence.Analysts expect Trump’s pick will be more likely to push for lower rates.But this also means it will be tougher for the candidate to establish credibility and convince investors of the bank’s insulation from politics, said Michael Strain of the conservative American Enterprise Institute.”A new Fed Chair may want to hold off on rate cuts for at least one meeting to reassure financial markets,” KPMG chief economist Diane Swonk wrote in a recent note.- Senate confirmation -Trump’s nominee must also undergo Senate confirmation, and will likely face tough questioning from lawmakers even as the president’s Republican Party holds a Senate majority.Already, Republican Thom Tillis, who sits on the Senate Banking Committee, vowed to oppose the confirmation of any Fed nominee — including the next chairman — until the probe against Powell is resolved.Other Republican lawmakers, like Senator Lisa Murkowski of Alaska, have spoken up against the investigation too.The top Democrat on the banking committee, Senator Elizabeth Warren, has previously accused Trump of wanting to push Powell off the Fed’s powerful board altogether and “install another sock puppet” to complete his takeover of the central bank.For now, a wildcard is whether Powell remains on the board as Fed governor after his four-year term as chairman ends, preventing Trump from influencing its composition further.Most chairmen leave when their terms expire, but they do not have to. Powell could remain a governor until 2028.- Forging consensus -Within the bank, the Fed chair is seen to have an outsized influence on forging consensus among the rate-setting Federal Open Market Committee (FOMC).The FOMC’s 12 voting members take majority votes to decide on interest rate adjustments, and observers will monitor if the next chief can unite officials to back further rate cuts.The Fed has seen deepening divisions recently as some policymakers seek lower rates to boost the economy and shore up a labor market they view as fragile.But others have pushed back on rate cuts amid inflation worries, as Trump’s tariffs flow through supply chains and raise the costs of certain goods.- Political pressure -The new Fed chair will also have to contend with a president who has relentlessly criticized their predecessor and made no secret of his preference for much lower interest rates.Trump has already said that he would judge his choice on whether they immediately cut rates.At a speech to the World Economic Forum at Davos, Switzerland, Trump said of the contenders for the chairmanship: “They’re saying everything I want to hear.””They get the job, and all of a sudden, ‘Let’s raise rates a little bit,'” he added. “It’s amazing how people change once they have the job.””It’s too bad, sort of disloyalty,” Trump said.

US President Donald Trump announced Friday that he is nominating Kevin Warsh, a former Federal Reserve governor, to be the next US central bank chief.Trump’s decision caps a closely watched search for a successor to Fed Chair Jerome Powell, whom the president has repeatedly lambasted for not cutting interest rates more swiftly.”I have 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,” Trump wrote on his Truth Social platform.”On top of everything else, he is ‘central casting,’ and he will never let you down,” Trump added.Powell’s term at the helm ends in May, although it remains to be seen if he will also step down from the Fed’s powerful board of governors.The president’s selection ends a race that had narrowed to four contenders — Warsh; current Fed governor Christopher Waller; Rick Rieder of BlackRock; and Trump’s top economic adviser Kevin Hassett.Trump said in separate social media posts that he did not pick Hassett, who heads the White House National Economic Council, as Hassett was “indescribably good” in his current role. Waller and Rieder would “all would have been outstanding” too, he said.- Senate hurdle -Warsh will need to be confirmed by the US Senate, facing questions by lawmakers on both sides of the aisle amid growing concerns about threats to the Fed’s insulation from politics.Trump’s recent attempt to oust another Fed Governor, Lisa Cook, and his administration’s investigation into Powell over renovation costs at the bank, have sparked worries about Fed independence.If independence were eroded, this could have ramifications for the world’s biggest economy, experts warn.Warsh must now get through a Senate Banking Committee hearing, “maintaining the confidence of both markets and the president in the process,” said economist Samuel Tombs of Pantheon Macroeconomics.After which, Warsh must pass a confirmation vote in the Senate with a simple majority.But Republican Thom Tillis, who sits on the banking committee, has vowed to oppose the confirmation of any Fed nominee — including the next chairman — until the probe against Powell is resolved.The top Democrat on the panel, Senator Elizabeth Warren, warned Friday that Warsh’s nomination “is the latest step in Trump’s attempt to seize control of the Fed,” urging Republicans to also block it.Although Trump’s Republican party holds a Senate majority, some lawmakers’ concerns about the Powell investigation have cast doubt on how smooth-sailing the confirmation process would be.- Economic challenges -Warsh, who is from New York, has recently stepped up his criticism of the Fed, endorsing many of the policy positions of Trump and his administration.He used to be a mergers and acquisitions banker at Morgan Stanley, and is currently a visiting fellow at the Hoover Institution.In Trump’s first term, the president considered Warsh for the Fed chair position as well — replacing Janet Yellen — but eventually chose Powell.As Trump continues to call for lower interest rates to boost the economy, all eyes will be on how Warsh defends the bank’s independence in the face of politics.The next Fed chairman will need to convince markets and policymakers that he is upholding the bank’s dual mandate of stable prices and low unemployment independently of political pressure.Even without Trump’s pressure, the Fed’s job has become increasingly challenging as US tariffs over the past year have fueled worries of stubborn inflation, while the employment market has cooled.The situation leaves Fed policymakers walking a tightrope as they adjust interest rates, deciding if they should keep levels higher to curb inflation or lower them to shore up the economy.With the labor market likely deteriorating in the coming months and inflation expected to tick down, the next Fed chief could “uncontroversially to reduce rates,” Tombs said.But he added that the jury is still out on whether Warsh will “pander to the president” if persistent inflation called for higher interest rates.

Kevin Warsh, a former US Federal Reserve official named by President Donald Trump on Friday as its next chief, was long an inflation foe but has aligned his views with those of Trump officials seeking aggressive interest rate cuts.Trump made the announcement after the Fed held its benchmark rate steady this week under Chairman Jerome Powell, whom the president again slammed as a “moron”.The months of personal attacks have fuelled widespread fears among investors that the Fed’s policy independence is under threat, potentially posing an inflation risk to the world’s biggest economy.Warsh has edged out three other contenders for the Fed job: Fed Governor Christopher Waller, Rick Rieder of the investment behemoth BlackRock, and Trump’s top economic adviser Kevin Hassett.A Fed governor between 2006 and 2011, Warsh was previously a mergers and acquisitions banker at Morgan Stanley.He later joined former president George W. Bush’s administration, serving as a White House economic policy adviser from 2002 to 2006 before being nominated to the Fed’s Board of Governors.During his first term, Trump had considered Warsh for the Fed chair position, but eventually chose Powell instead.But Powell’s fall from grace was capped this month when US prosecutors issued subpoenas against him threatening a criminal indictment, an unprecedented move widely seen as an escalation of Trump’s campaign against the central bank.- No longer a ‘hawk’ –Warsh’s term as a Fed governor saw him work closely with its chief Ben Bernanke on the central bank’s policy responses during the financial crisis that rocked the global economy in 2008.He emerged as a key communications conduit between policymakers and financial markets, even as he became increasingly skeptical of some of the Fed’s actions — including interest rate cuts to help contain the damage.He resigned as a Fed governor in 2011, several years before his term was to expire in 2018.At the time, he was seen as an inflation “hawk,” a term describing policymakers more inclined to prioritize stable prices and low inflation.This is usually done by favoring tighter monetary policy and higher interest rates.But recently Warsh has stepped up his criticism of the Fed, endorsing many of the policy positions of Trump and his administration.He argued in a speech last year that the Fed had strayed from its monetary policy mission into political areas where it lacked expertise.Warsh also claimed that poor policy choices by the Fed were holding back the US economy from growing further.In an interview with Fox Business at the time, he backed interest rate cuts to boost growth, even as Fed officials said they needed to evaluate the potential impact of Trump’s tariffs barrage on inflation.Warsh, a graduate of Stanford University and Harvard Law School, is married to Jane Lauder, of the family known for the Estee Lauder cosmetics group. Her billionaire father Ronald Lauder is a longtime associate of Trump’s.Warsh’s appointment to the Fed would have to be confirmed by the US Senate, where he will face scrutiny including from Trump’s own Republican lawmakers.Republican Thom Tillis, who sits on the Senate Banking Committee, has vowed to oppose the confirmation of any Fed nominee until the probe against Powell is resolved.