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In a thinly veiled rebuke to President Trump, Federal Reserve Chair Jerome Powell urged Princeton graduating students to defend democracy, emphasizing the importance of public service and integrity. Powell’s speech, delivered days after the Supreme Court affirmed the Fed’s unique structure and independence from presidential interference, coincided with Trump’s attacks on the institution and funding cuts to universities. He lauded American universities as a national asset under threat and challenged students to preserve and strengthen democracy throughout their careers. Powell’s remarks highlight the ongoing tension between the Trump administration and independent institutions.
In response to escalating Russian aggression in Ukraine, including a record-breaking drone assault, former President Trump is considering imposing new sanctions. While details remain unclear, these sanctions may not involve further banking restrictions and could be coupled with a potential abandonment of peace efforts should negotiations fail. Trump’s previous reluctance to sanction Russia stemmed from concerns about impacting future business opportunities. However, his recent condemnation of Putin and consideration of sanctions suggest a shift in his approach.
In response to a proposal to restrict remaining Western companies in Russia, President Putin advocated for aggressive retaliatory measures, calling for these companies to be “strangled” due to perceived Western attempts to cripple the Russian economy. This follows the departure or scaling back of numerous Western firms after the invasion of Ukraine. Putin’s directive targets companies still using Western software, reflecting a hardening stance against foreign businesses. While Russia has seized assets from some companies and employed harsh rhetoric, it concurrently explores potential pathways for re-engagement with Western firms in the future.
Driven by a shrinking blood donor pool and increasing transfusion needs, Japanese researchers are developing artificial blood. This artificial blood, created by encapsulating hemoglobin in a protective shell, eliminates the need for blood type matching and boasts a two-year shelf life at room temperature. Clinical trials in healthy adults are slated to begin by March 2025, aiming for practical application by 2030. Success would represent a global medical breakthrough, providing readily available blood for all patients regardless of circumstances.
In the past day, Russia suffered significant losses, with 990 soldiers killed or wounded and over 300 pieces of military equipment destroyed. These losses add to the already staggering total estimated since February 24, 2022, including nearly one million military personnel and tens of thousands of armored vehicles and artillery systems. The reported figures encompass a wide range of military assets, from tanks and aircraft to drones and cruise missiles. Confirmation of these numbers is ongoing.
Following the passage of Trump’s budget bill, he unexpectedly launched a scathing attack on Vladimir Putin, calling him “absolutely crazy” for the ongoing war in Ukraine. This outburst, seemingly fueled by wounded pride and contradicted by Trump’s previous statements praising Putin’s supposed desire for peace, reveals a potential shift in his stance. French President Macron suggests Trump now realizes Putin’s insincerity regarding peace negotiations, while bipartisan support in the U.S. Senate for new sanctions against Russia indicates a growing concern over Trump’s potential inaction. The situation highlights the conflict between Trump’s rhetoric and actions, and the uncertainty surrounding future U.S. involvement in the conflict.
Latvia’s Foreign Minister Baiba Braže has urged the EU to halt issuing visas to Russian citizens due to escalating security risks, citing a 25% increase in Schengen visas granted to Russians in 2024 compared to 2023. This call echoes a similar plea from Latvia’s Interior Minister, highlighting concerns about Russia’s ongoing threat to European security. The sharp rise in visa approvals, with over 565,000 Schengen tourist visas issued to Russians in 2024, further underscores these anxieties. Braže’s appeal emphasizes the potential security vulnerabilities posed by Russian nationals traveling within the Schengen Area.
Germany, alongside the US, UK, and France, has lifted range restrictions on weapons supplied to Ukraine, enabling strikes on Russian military targets. This decision, described as “dangerous” by the Kremlin, allows Ukraine greater defensive capabilities. While Chancellor Merz avoids confirming Taurus missile deliveries, his government’s actions suggest a shift towards more robust support for Ukraine. Despite exploring diplomatic avenues, including a potential Vatican-mediated peace process, Merz indicates that options are dwindling, implying a prolonged conflict.
Albuquerque, New Mexico, is using over $2 million in cannabis tax revenue to fund a $4.02 million basic income pilot program. This program provides 80 families in low-performing school districts with $750 monthly payments and financial counseling. The initiative aims to address wealth inequality and mitigate the harms of past cannabis criminalization, prioritizing marginalized communities. While proponents cite potential benefits like improved housing and mental health, critics view such programs as socialistic and potentially disincentivizing work. The city council emphasizes the need for measurable outcomes to evaluate the program’s effectiveness.
John Q. Hosedrinker