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Fed may face unnerving shake-up under Trump administration

Fed shakeup under TrumpChange at the Federal Reserve could come quickly with President-elect Donald Trump's team pledging to promptly fill high-level central bank jobs and roll out a tax and fiscal plan that could rewrite policymakers' core economic assumptions.

Fed officials already say their plan to gradually increase interest rates may need to be accelerated to accommodate the new administration's economic proposals, which could push inflation higher.

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Trump Given Post-Election Tax Subsidy for His D.C. Hotel

Trump given post election tax subsidySix days after Donald Trump won the presidential election, the federal government finalized a key step toward a tax subsidy worth as much as $32 million for a company that is owned by Trump, his daughter Ivanka, and two of his sons.

That company owns Trump’s luxury Washington, DC, hotel, located in a taxpayer-owned historic landmark known as the Old Post Office Building, which Trump leases from the federal government. The hotel has become emblematic of Trump’s many potential conflicts of interest, because when he becomes president he will effectively be both landlord and tenant.

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Wilbur Ross, Trump's choice for commerce secretary, has profit, politics on resume

Wilbur RossWilbur Ross, who as Donald Trump's commerce secretary will be the voice of U.S. business, made a fortune spinning financial dross into gold.

In the early 1990s, Ross became a star as an adviser to stakeholders in moribund companies. As the longtime head of Rothschild & Co.'s bankruptcy advisory business in New York he helped dictate the outcomes of big bankruptcies, including that of Trump's Taj Mahal Casino Resort in Atlantic City, N.J. He also worked on the Texaco Inc. and Trans World Airlines Inc. bankruptcies.

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Pelosi Overcomes Challenge To Win Re-Election As House Democratic Leader

Nancy PelosiNancy Pelosi beat back her toughest challenge yet to her leadership of Democrats in the House of Representatives, defeating Ohio Rep. Tim Ryan to secure another term as House minority leader.

The California Democrat got 134 votes to Ryan's 63 in a secret ballot vote on Wednesday. Pelosi had boasted going into the vote that she had support from two-thirds of the caucus, and she received just over the amount.

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Anti-Trump forces launch attack on Electoral College

Electoral college revoltAnti-Trump forces are preparing an unprecedented assault on the Electoral College, marked by a wave of lawsuits and an intensive lobbying effort aimed at persuading 37 Republican electors to vote for a candidate other than Donald Trump.

It’s a bracing stress-test for an institution that Alexander Hamilton envisioned as a safeguard against popular whims, and a direct challenge to the role that the Electoral College has evolved to play in picking the president: constitutional rubber stamp.

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Donald Trump chooses Steven Mnuchin as treasury secretary

Steven MinuchinPresident-elect Donald Trump has selected Steven Mnuchin as his treasury secretary, his transition team announced Wednesday morning.

Mr. Trump praised Mnuchin as a “world-class financier, banker and businessman” in a statement.

“Steve Mnuchin is a world-class financier, banker and businessman, and has played a key role in developing our plan to build a dynamic, booming economy that will create millions of jobs,” he said.“His expertise and pro-growth ideas make him the ideal candidate to serve as Secretary of the Treasury.”

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HHS nominee Price opposes Obamacare, backs Medicare vouchers

HHS appointee PriceAs a congressman, Georgia Republican Tom Price has been thwarted in his hopes to repeal the Affordable Care Act and transform Medicare into a voucher-like program for future participants.

Now, as President-elect Donald Trump's choice to run the Department of Health and Human Services, Price will wield great power as Trump's top health policy adviser and preside, Republicans hope, over the dismantlement of President Barack Obama's signature health care law.

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