The Latest: Hegseth faces a second day of Democrats grilling him over the Iran war
Defense Secretary Pete Hegseth will face a second day of grilling from Democrats on Capitol Hill, with senators getting their first opportunity on Thursday to confront or praise the Pentagon chief over his handling of the Iran war.
Hegseth battled with Democrats — and some Republicans — a day earlier during a nearly six-hour House Armed Services Committee hearing, where he faced sharp questioning over the war’s costs in dollars, lives and the diminishing stockpiles of critical weapons.
The Senate Armed Services Committee will hear a similar presentation on the Trump administration’s 2027 military budget proposal, which would boost defense spending to a historic $1.5 trillion. Hegseth and the chairman of the Joint Chiefs of Staff, Gen. Dan Caine, will again stress the need for more drones, missile defense systems and warships.
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Environmental Protection Agency boss backs big budget cuts but Congress will get the final say
Senate Democrats accused the Trump administration of abandoning the Environmental Protection Agency’s mission to protect human health and the environment at a congressional hearing Wednesday, slamming agency leadership over a proposal to cut its budget in half.
EPA Administrator Lee Zeldin’s appearance before the Senate environment committee was his last of three budget hearings this week where he argued for sharply reduced funding for the agency, which already has seen its staffing reduced to its lowest level in decades under his leadership. During much of the week, the former Republican congressman from New York took an aggressive approach, responding to Democrats in the House and Senate with his own questions and at times accusing them of being unprepared or failing to care about the EPA’s track record.
Zeldin has eliminated major climate change programs, promoted deregulatory efforts he calls the biggest in American history and canceled billions of dollars in Biden-era environmental justice grants to halt what he calls “EPA’s radical diversity, equity, and inclusion programs.”
Brent crude surges over $120 a barrel on Iran war worries, while world stocks are mixed
The price of Brent crude oil briefly surged past $126 a barrel early Thursday as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war.
Brent crude to be delivered in June jumped 3.3% to $121.90 after briefly soaring past $126 per barrel. Brent to be delivered in July rose 1.4% to $112.02.
Benchmark U.S. crude climbed 1.3% to $108.28 per barrel.
Before the war began in late February, Brent crude was trading around $70 per barrel.
There’s no clear path to an end to the war. The U.S. has continued its blockade of Iranian ports while the Strait of Hormuz is closed, pushing oil prices higher. Reports Thursday suggesting a possible escalation by Trump doused hopes for a quick end to the conflict.
Powell plans to remain on Fed board, cites legal actions by Trump administration
Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for a period of time, to be determined,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk.
“I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said in remarks at a press conference after the Fed announced its decision to keep its benchmark interest rate unchanged.
Powell’s decision to stay — the first time a Fed chair will remain on the board as a governor since 1948 — denies Trump a chance to fill a seat on the central bank’s seven-member governing board with his own appointee. The Senate Banking Committee earlier approved Powell’s successor as chair, Trump appointee Kevin Warsh, on a party-line vote. Powell will continue as a Fed governor, possibly until January 2028. Warsh, if confirmed, will take a seat currently held by Stephen Miran, a previous Trump appointee, whose term ended in January.
Hegseth faces a second day of Democrats grilling him over the Iran war
Hegseth will face a second day of grilling from Democrats on Capitol Hill, with senators getting their first opportunity on Thursday to confront or praise the Pentagon chief over his handling of the Iran war.
Hegseth battled with Democrats — and some Republicans — a day earlier during a nearly six-hour House Armed Services Committee hearing, where he faced sharp questioning over the war’s costs in dollars, lives and the diminishing stockpiles of critical weapons.
The Senate Armed Services Committee will hear a similar presentation on the Trump administration’s 2027 military budget proposal, which would boost defense spending to a historic $1.5 trillion. Hegseth and the chairman of the Joint Chiefs of Staff, Gen. Dan Caine, will again stress the need for more drones, missile defense systems and warships.
They are now also likely to face tough questions about American troop levels in Europe after President Donald Trump on Wednesday leveled a new threat against NATO ally Germany, suggesting he could soon reduce the U.S. military presence in the country as he feuds with Chancellor Friedrich Merz over the Iran war.