In the bowels of the US Federal Reserve this summer, two of the world’s most powerful men, sporting glistening white hard hats, stood before reporters looking like students forced to work together on a group project.
Allies of Donald Trump had spent weeks trying to manufacture a scandal around ongoing renovations of the central bank’s Washington headquarters and its costs. Now here was the US president, on a rare visit, examining the project for himself.
“It looks like it’s about $3.1bn. It went up a little bit – or a lot,” Trump said, as Jerome Powell, the typically calm Fed chair, vigorously shook his head. “So the $2.7bn is now $3.1bn–”
“I’m not aware of that, Mr President,” Powell quickly interjected, as Trump pulled out a paper from his suit pocket as evidence. “I haven’t heard that from anybody at the Fed.”
The remarkable public encounter in late July was described as a “tussle”, “spar” and “feud” by news outlets and came to symbolize an extraordinary battle for control of the world’s largest economy.
Never before has a president been so publicly, and relentlessly, critical of the country’s top monetary policymaker. For decades, successive administrations have allowed the Fed, as the institution tasked with steering the US economy, to function independently, without political interference. No longer.




It’s not quite a new year resolution, and it’s certainly not a prediction. Think of it instead as a hope or even a plea for the next 12 months. May the coming year see those leaders who have done so much damage to their own countries, and far beyond, at last be called to account. Let 2026 be a year of reckoning.
New York City Mayor Zohran Mamdani on Saturday condemned the Trump administration over the U.S. military operation in Venezuela that led to the capture of its president, calling it an “act of war.”
United Nations Secretary-General Antonio Guterres has called on Israel to reverse a pending ban on 37 nongovernmental organisations (NGOs) working in Gaza and the occupied West Bank.
Russian forces on Jan. 2 launched a missile attack on a residential neighborhood in the city of Kharkiv, killing a child and injuring at least 19 people, including a six-month-old baby, regional authorities said.
The journey that brought Kaohly Her to St. Paul’s mayor’s office started in a bamboo hut some 8,000 miles from Minnesota's capital city.





























