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US Fed officials expected slower rate cuts in 2025, say December minutes

Minutes of the December meeting show a division on decision to cut rates and the 0.25 percent cut was a ‘close call’. United States Federal Reserve officials at their meeting December 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes. Minutes from the meeting, released on Wednesday after the typical three-week lag, also showed clear division among the Fed’s 19 policymakers. Some expressed support for keeping the central bank’s key rate unchanged, the minutes said. And a majority of the officials said the decision to cut rates was a close call. Ultimately, the Fed chose to cut its key rate by a quarter-point to about 4.3 percent. One official, Cleveland Fed President Beth Hammack, dissented in favour of keeping rates unchanged. Still, there was widespread agreement that after reducing rates for three straight meetings, it was time to undertake a more deliberate approach to their key rate. Fewer rate cuts will likely mean that borrowing costs for consumers and businesses – including for homes, cars and credit cards – will remain elevated this year. Advertisement Policymakers said the Fed “was at or near the point at which it would be appropriate to slow the pace of policy easing”, the minutes said. In projections released after the meeting, Fed officials said they expect just two cuts next year, down from an earlier projection of four. Trump tariffs The minutes also showed that “almost all” Fed policymakers see a greater risk than before that inflation could stay higher than they expect, in part because inflation has lingered in several recent readings and because of “the likely effects of potential changes in trade and immigration policy”. The Fed’s staff economists considered the economy’s future path particularly uncertain at the December meeting, in part because of incoming President-elect Donald Trump’s administration’s “potential changes to trade, immigration, fiscal, and regulatory policies”, which the staff said are difficult to assess in terms of how they will impact the economy. As a result, they included several different scenarios for the economy’s future path in their presentation to policymakers. The staff projected that inflation this year would be about the same as in 2024 because they expected Trump’s proposed tariffs would keep inflation elevated. Stock markets plummeted after the Fed officials reduced their outlook for rate cuts last month. Fed Chair Jerome Powell said at a news conference after the meeting that the decision to reduce rates had been a “close call”. Powell also said that recent signs of stubborn inflation have caused many Fed officials to pare back their expectations for rate cuts. According to the Fed’s preferred measure, inflation ticked up to 2.4 percent in November, compared with a year ago, above the Fed’s 2 percent target. Excluding the volatile food and energy categories, it was 2.8 percent. Advertisement In addition, some officials have started to consider the potential impact of Trump’s proposals, such as widespread tariffs, on the economy and inflation next year, the minutes said. Economists at Goldman Sachs, for example, have estimated that Trump’s tariff proposals could push inflation up by nearly a half-percentage point later this year. Earlier Wednesday, Fed governor Christopher Waller said that he still supported rate reductions this year, partly because he expects inflation to steadily head down to the Fed target. He also said he did not expect tariffs would worsen inflation and wouldn’t change his preference for lowering borrowing costs. In a question-and-answer session, Waller also said that he didn’t think Trump would ultimately impose the universal tariffs he promised in the campaign. Adblock test (Why?)

Barcelona defeat Athletic without Olmo to reach Spanish Super Cup final

Barcelona reach the final of the Spanish Super Cup with a 2-0 win against Athletic Bilbao in Saudi Arabia. Young starlets Gavi and Lamine Yamal fired Barcelona, without Dani Olmo after his licence to play was revoked, into the Spanish Super Cup final with a 2-0 win against Athletic Bilbao. Spanish playmaker Olmo was cleared to play again on a temporary basis before the game on Wednesday, but the decision came too late for him or Pau Victor, in the same position, to feature against Copa del Rey winners Athletic. Gavi put Barcelona ahead from close range after 17 minutes and teenage winger Yamal netted the second early after the break. Spanish and European champions Real Madrid face cup runners-up Mallorca on Thursday in the second semifinal. “We don’t care [who we face in the final]. It will be hard and we want to win it, which is the important thing, and go back home with the trophy,” Yamal told Movistar after the game. Barcelona’s Gavi forces home the opening goal [Pedro Nunes/Reuters] Barcelona, who qualified as LaLiga runners-up, started brightly and Raphinha volleyed over from a fine Jules Kounde cross and forced Unai Simon into a good save with a free-kick. Advertisement It was no surprise when the Catalans broke the deadlock with Alejandro Balde cutting the ball back for Gavi, playing in Olmo’s attacking midfield role, to turn home. The 20-year-old pointed at an imaginary watch in his celebration, a nod to Olmo, who regularly produces the same gesture after scoring. At the other end, Inaki Williams dallied on the ball too long as Athletic’s best attacking move of the first half broke down. Yamal, 17, should have added Barcelona’s second after Raphinha’s shot was saved but miscued an attempted lob. Wojciech Szczesny, on his second start in goal for Barcelona, made a good save to keep Inaki Williams at bay before the break. Barcelona doubled their lead early in the second half when Gavi slipped in Yamal who finished with aplomb. “Athletic are a very physical team that make you run a lot. We suffered above all towards the end, but we were able to play well, and we’re very happy,” Yamal added. Barcelona’s Lamine Yamal celebrates scoring their second goal [Pedro Nunes/Reuters] Veteran Polish forward Robert Lewandowski spurned a fine chance to add the third, firing off-target when well-placed. Athletic coach Ernesto Valverde, who was sacked as Barcelona boss after a defeat at the same stadium in 2020, brought on Nico Williams to try and turn the game around. The Spain international, heavily linked with Barcelona in the summer, was not fit enough to start, but made a positive impact from the bench. The winger set up Oscar de Marcos to strike, but the Athletic defender had strayed just offside and the goal was ruled out. Advertisement Inaki Williams also had a goal ruled out for offside after Frenkie de Jong’s poor back-pass took a slight deflection off Alvaro Djalo on its way to the Ghana international. Barcelona secured their victory and await their opponents in Sunday’s final, in which Olmo will be allowed to feature. Adblock test (Why?)

As Trump talks up trade war with China, fears rise for rare earths supply

Taipei, Taiwan – As United States President-elect Donald Trump gears up for a second trade war with China once he takes office on January 20, the rare earth minerals essential to the production of electronics, vehicles and weapons are one resource expected to be caught up in the fray. While rare earths are plentiful across the earth’s surface – despite what their name suggests – China controls about 70 percent of their production and 90 percent of processing, according to estimates by the US Geological Survey and the International Energy Agency. The 17 elements, which include scandium, promethium and yttrium, are used to make everything from smartphones, semiconductors, and EV batteries, to F-35 fighter jets, drones, wind turbines, radar systems and nuclear reactors. The vulnerability of rare earth supply chains has been a growing concern for governments worldwide in an era of heightened geopolitical tensions. Last month, China banned exports of gallium, germanium and antimony to the US after the administration of President Joe Biden announced its latest curbs on the sale of advanced chips and machinery to the country. Advertisement The move was widely viewed as symbolic as the US has other sources of gallium and germanium. But it nonetheless marked an escalation in Beijing’s use of rare earths as a tool for geopolitical advantage after declaring rare earths property of the state in October and banning the export of technologies used for extracting and separating the materials late last year. It also recalled the Chinese government’s decision in 2010 to briefly ban exports of such minerals to Japan amid a maritime border dispute between the sides. US President-elect Donald Trump speaks during a news conference at Mar-a-Lago in Palm Beach, Florida, the United States, on January 7, 2025 [Evan Vucci/AP] With Trump pledging to impose a swath of new trade restrictions on China – ranging from a 10 percent tariff on Chinese goods over Beijing’s failure to curb fentanyl exports, to a 60 percent tariff for unfair trade practices – Beijing could further restrict rare earths to respond in kind. Even if the Chinese government did not retaliate with export bans, Trump’s tariffs would potentially make the minerals much more expensive to obtain. “Looking ahead 12–18 months, the global geopolitical landscape is rife with wildcards that could in an instant materially impact the outlook for supply chains and the economies they serve,” Ryan Castilloux, a rare earths expert at Canada-based research and advisory firm Adamas Intelligence, told Al Jazeera. Washington is particularly concerned about rare earths such as neodymium, praseodymium, dysprosium, and terbium, Castilloux said, which are used to make powerful neodymium magnets – also known as NdFeB magnets. Advertisement Rare earths and finished products such as rare-earth magnets, which are multiple times stronger than standard magnets, are considered a “vulnerability for US manufacturers and the defence industry” because the US and its allies have yet to develop an alternative source than China, Castilloux said, although projects to produce the minerals are under way elsewhere, including three US states and Estonia. Washington has made the establishment of a “sustainable mine-to-magnet supply chain” a top priority. In March, Danielle Miller, acting deputy assistant secretary of defence for industrial base resilience, said efforts to build such a pipeline capable of supporting all US defence requirements by 2027 were “on track”. Despite plentiful reserves of rare earths in numerous countries, from Angola and Australia to Brazil, Canada and South Africa, expanding the supply chain beyond China is a challenging undertaking. China has been able to maintain dominance of the industry thanks to its economies of scale, government subsidies, and its accumulation of massive stockpiles that have allowed it to undercut competitors with “irrationally low prices”, said Neha Mukherjee, a senior analyst for critical minerals at Benchmark Mineral Intelligence. Samples of rare earth minerals on display at the Mountain Pass Rare Earth facility in Mountain Pass, California, the United States, on June 29, 2015 [David Becker/Reuters] Rare earths are by-products of mining other minerals such as iron ore, and they are not produced in predictable quantities. As a result, quantities and therefore prices of different rare earths can vary greatly among the 17 minerals. Advertisement Mukherjee said China is focused on keeping rare earth prices stable to support its domestic EV industry, even if doing so comes at the expense of the mining sector. China’s near-monopoly and unbeatable prices have historically made operating rare earth mines and processing facilities an unattractive proposition for many investors. “They’re discouraging anyone from becoming a competitor. It just doesn’t make viable economics to develop a mine when you can buy the semi-processed materials at a competitive rate,” Mike Walden, senior director of TechCet, a consulting firm specialising in electronics supply chains, told Al Jazeera. The timeline is also long, taking 10-20 years from exploration to construction, Walden added. A watershed moment for US efforts to secure rare earth supplies was the reopening of the Mountain Pass Mine in California’s Mojave Desert – first discovered in the 1870s – by MP Materials in 2018. The company has since opened a magnet factory in Texas. Other rare earth-related facilities outside China include a mine in Yellowknife, Canada, a magnet recycler in the US state of Texas, and a rare earth magnet factory in the US state of South Carolina, with more projects in development across North America. Since 2022, the US Department of Defence and the Department of Energy have awarded more than $440m to rare earth companies, with additional tax credits provided by the Inflation Reduction Act. Such projects could help the US weather the storm if China cut off exports of rare earths, although the country could still struggle to achieve total self-reliance, said Walden. Advertisement “The key point here is there are operational facilities in North America. Is it enough to necessarily support all North American demand? The answer to that is no. Is it enough to support the strategic demand of North America? The answer to that appears to be yes,” he said,

Biden looks to limit AI product exports, tech leaders say they’ll lose global market share

Leaders in the tech industry are urging the Biden administration not to add a new regulation that will limit artificial intelligence exports, citing concerns it is overbroad and could diminish the United States’ global dominance in AI.   The new rule, which industry leaders say could come as early as the end of this week, effectively seeks to shore up the U.S. economy and national security efforts by adding new restrictions on how many U.S.-made artifical intelligence products can be deployed across the globe.  “A rule of this nature would cede the global market to U.S. competitors who will be eager to fill the untapped demand created by placing arbitrary constraints on U.S. companies’ ability to sell basic computing systems overseas,” stated a Monday letter from Jason Oxman, the president and CEO of the Information Technology Industry Council (ITI), sent to Commerce Department Secretary Gina Raimondo. “Should the U.S. lose its advantage in the global AI ecosystem, it will be difficult, if not impossible, to regain in the future.” FBI’S NEW WARNING ABOUT AI-DRIVEN SCAMS THAT ARE AFTER YOUR CASH The process to place new export controls on artificial intelligence goes back to October 2022, when the Biden administration’s Commerce Department first released an updated export framework aimed at slowing the progress of Chinese military programs. Details of the new incoming export controls surfaced after the Biden administration called on American tech company NVIDIA to stop selling certain computer chips to China the following month. In an update to the rule the following year, the Biden administration announced the initiation of a public notice and comment period. Finally, last month, as the president’s term in the White House winds down, the administration published two new updates to the rule that added more limits to the proposed export controls. The rule is now in its final stages before it will be formally published in the Federal Register. “The Bureau of Industry and Security’s (‘BIS’) proposed Interim Final Rule (‘IFR’) is a highly complex and wildly overbroad attempt to regulate Artificial Intelligence and GPUs in the name of national security,” Ken Glueck, the executive vice president at Oracle, wrote in a blog post Sunday that was published to his company’s website.  “For over half a century, bipartisan consensus has held that the best way to achieve U.S. technological leadership is to regulate technology with a light touch. As a result, American companies have continued to lead each successive generation of technology, from the personal computer to the Internet, to mobile, to the cloud, and now Artificial Intelligence.” In addition to fears that the new regulations will stifle economic growth in the domestic AI sector, some critics have also argued that blocking American AI manufacturers from selling their computer chips around the globe could actually benefit China.  WHITE HOUSE UNVEILS AI EXECUTIVE ORDER, REQUIRING COMPANIES TO SHARE NATIONAL SECURITY RISKS WITH FEDS “The Biden administration is trying to force other countries to pick a side – the United States or China – and it is likely going to discover that if it issues this ultimatum, many will pick China,” Stephen Ezell, vice president of global innovation policy at the Information Technology and Innovation Foundation, said in a Tuesday statement published on the foundation’s website.  “Moreover, the United States should be countering efforts by China and Russia, which recently launched an AI Alliance Network among BRICS countries, to offer its own allies and partners access to AI data, models, and computer resources,” he added. Ezell and others also highlighted the rushed nature of the new proposed rule on export controls, arguing that hurrying to get it finalized has been at the cost of adequate industry input on the new regulations.  “We respectfully caution against making such a swift and significant shift in policy during this transitional period, and without meaningful consultation with industry,” the Semiconductor Industry Association said in a Monday statement. The group encouraged the Biden administration to “hand over the policymaking process” to the incoming Trump administration because it will “ensure there is appropriate opportunity for government and industry leaders, together with our global partners, to thoughtfully address this critical matter.” EXPERTS PRAISE LONG-AWAITED AI REPORT FROM CONGRESS: ‘A THOUGHTFUL AND FORWARD THINKING FRAMEWORK’ It is uncertain exactly how the incoming administration might approach this issue. Trump has signaled he is not afraid to initiate new trade deals and could potentially use the export controls as leverage. However, the president-elect said following his November election victory that a focus of his second term will be to “win the A.I. arms race with China (and others).” “With U.S. Energy Dominance, we will drive down inflation, win the A.I. arms race with China (and others), and expand American Diplomatic Power to end Wars all across the World,” Trump wrote in an email announcing former North Dakota Gov. Doug Burgum as the new head of the Interior Department.   Fox News Digital reached out to the White House for comment but did not receive a response by publication time.

Republican AGs double down on Biden administration lawsuits as president prepares to leave office

President Biden will be in office less than two more weeks, but that’s not slowing down Utah Attorney General Sean D. Reyes and Texas Attorney General Ken Paxton, both Republicans, from taking the Biden administration to court over new energy-efficient housing standards they argue undermine affordable housing and go beyond what federal law allows. This isn’t the only late lawsuit or complaint filed against the Biden White House in its waning days, and it marks Paxton’s 103rd lawsuit challenging the Democratic administration. “So, I don’t know if anybody’s close to that, but he’s kept us busy because we’ve had to prevent him from being more of a king or a dictator than an elected executive who is responsible for implementing, not creating, laws,” Paxton told Fox News Digital in an interview.  TRUMP PLANNING TO LIFT BIDEN’S LNG PAUSE, INCREASE OIL DRILLING DURING 1ST DAYS IN OFFICE: REPORT Paxton said they “may have another” lawsuit on the way, but they may not have it ready in time. In addition to Utah and Texas, the states participating in the lawsuit with the National Association of Home Builders are Alabama, Arkansas, Idaho, Indiana, Iowa, Kansas, Louisiana, Missouri, Montana, Nebraska, South Carolina, Tennessee and West Virginia. The coalition contends the administration’s energy standards are not only burdensome but also exceed the authority granted by Congress.  BIDEN MOVING TO BAN OIL AND GAS LEASES FOR 20 YEARS IN NEVADA REGION, JUST WEEKS BEFORE TRUMP INAUGURATION “Even as our nation prepares to transition to a new administration, the outgoing HUD and USDA offices are committed to inflicting unwanted and unneeded cost increases on Americans who are already struggling to pay their bills, provide for their families, and secure a brighter future for their children,” Reyes said in a statement. The Biden administration has claimed these rules will save money by making homes more energy efficient. However, critics argue the rules are increasing upfront costs and reducing options for buyers. The lawsuit also questions whether the administration had the legal authority to enforce these rules. The attorneys general say the administration is relying on private organizations, like the International Code Council, to set standards that go beyond what the original law intended. Biden’s renewable energy agenda has been a controversial focal point of energy critics over the last four years. On Monday, Biden also signed an executive action that bans new drilling and further oil and natural gas development on more than 625 million acres of U.S. coastal and offshore waters.  Trump’s press secretary quickly slammed the order on X.  “This is a disgraceful decision designed to exact political revenge on the American people who gave President Trump a mandate to increase drilling and lower gas prices. Rest assured, Joe Biden will fail, and we will drill, baby, drill,” Karoline Leavitt wrote on X.  BIDEN RIPPED FOR ‘SLAP IN THE FACE’ TO CRIME VICTIMS AFTER AWARDING SOROS MEDAL OF FREEDOM: ‘DISGUSTING’ More than a dozen Republican AGs over the last four years have kept the Biden administration on alert and issued notices on several of his policies. In November, Iowa Republican Attorney General Brenna Bird, alongside more than 20 other attorneys general, sent a letter to special counsel Jack Smith, New York Attorney General Letitia James and Fulton County District Attorney Fani Willis, calling on them to drop their cases against President-elect Trump to avoid the risk of a “constitutional crisis.” Paxton also filed a lawsuit in November against the Biden-Harris Department of Justice to prevent potential destruction of any records from Smith’s “corrupt investigation into President Donald Trump,” according to his office.  Fox News Digital has reached out to the White House for comment but did not hear back by time of publication.

Hundreds of veterans to descend on DC to march in support of Pete Hegseth’s confirmation

FIRST ON FOX: Two former Navy SEALs are planning to bring hundreds of veterans to Washington, D.C., next week to march in support of Pete Hegseth’s confirmation for defense secretary. Hegseth, a former Army National Guardsman, will take the hot seat before the Armed Services Committee for a hearing on Tuesday ahead of a confirmation vote. The group, organized by Bill Brown and Rob Sweetman, are planning to pack “as many veterans into the hearing room” as possible. They plan to have veterans meet outside the Dirksen Senate Office Building at 4 a.m., before the building opens at 7 a.m. and the hearing kicks off at 9:30 a.m.  The pair got to know Hegseth through his participation in the yearly New York City SEAL Swim in the Hudson River, organized by Brown.  A group of veterans will also meet at the Vietnam Veterans Memorial at 9 a.m. to march in support of Hegseth. Brown is inviting all veterans to bring American flags and join their group.  PETE HEGSETH SAYS HE HASN’T HEARD FROM WEST POINT SINCE EMPLOYEE ‘ERROR’ DENYING HIS ACCEPTANCE “There’s something really powerful about having a physical presence of support, other than just social media,” said Sweetman. His organization, 62Romeo, helps veterans transitioning out of the military get their sleep back on track and is helping to sponsor the event.  Sweetman expects at least 100 SEALs to join and hundreds of other veterans.  Brown said he and others began organizing the march over the “total dismay that a lot of us in the military, a lot of us who served our country and war and overseas, have with the current leadership in the Pentagon.” Jurandir “J” Araujo, Hegseth’s first commander when he was stationed at Guantanamo Bay prison in 2004, who’s planning to help rally support, told Fox News Digital that back then he used to tell his colleagues that Hegseth would be president one day.  “I immediately noticed his dedication and commitment to the mission, and not only to the mission but to his men.” “As a young second lieutenant and platoon leader, Pete cared about not only training and instructing his men, but being a part of their daily lives,” said Araujo. “He was always very caring about his troops, and their satisfaction with what they were doing there.  “I always saw something in him that was special,” Araujo went on. “I gave him the call sign as a lieutenant of double-A, which means all-American.” “I made a point to tell the first sergeant, I said, you know, I said, “Lt. Hegseth, prepare yourself because this guy is gonna be president one day.” Hegseth’s nomination has been rocked by allegations that the former Army National Guardsman and Fox News host drank too much and behaved inappropriately with women. A recently unearthed police report from 2017 revealed a sexual assault allegation against him that Hegseth thoroughly denies. Others have taken issue with his past comments arguing that women should not serve in combat roles. Some still have said they don’t believe he has the experience for the job, having retired as a major.  The veterans coming to support him in D.C. are not deterred by the allegations.  “The Lt. Hegseth that I knew, and the Pete Hegseth that I know today is a man of integrity,” said Araujo. “That’s what I gauge my measurement on, as far as leadership and the ability to lead men and this country. “His view on women in combat is the same as mine,” said Brown. “The focus should be what’s going to make us the most lethal and combat-efficient force we can be.”  “We’re not little guys, we’re big muscly dudes. Most women are going to have a hard time, with my plates, with my gear, dragging me out of harm’s way. It’s just the truth… Pete was speaking out of love.” Both Brown and Sweetman said they were infuriated over the Afghanistan withdrawal and spurred to action when the Pentagon failed its seventh audit in a row. They hope Hegseth will hold those responsible for the withdrawal accountable and cut out waste at the Pentagon.  “There’s gross corruption, fraud, wasting, abuse in the Pentagon,” said Brown. “No one’s been held accountable for the travesty in Afghanistan.” “We are hemorrhaging money with some of the defense contractor initiatives,” said Sweetman. “There are no checks and balances on some of these large contracts, with some of the larger companies that are embedded with the government, and so we’re looking at a huge budget that a lot of it is unaccounted for, specifically when we talk about the audits. How come you don’t know where the money is going?” Angelo Martinez served with Hegseth in Cuba, when he was a young soldier and Hegseth was his platoon commander. Martinez is now a staff sergeant, and has been in the Army for 21 years. “I had the pleasure, or maybe not, of meeting many personalities or officers,” he said.  ‘GREATEST WARRIORS’: HEGSETH RAILS AGAINST ‘MISCONSTRUED’ NARRATIVE THAT HE’S AGAINST WOMEN IN MILITARY “The difference between him and other officers, and there’s very few of them that treat other people, meaning the enlisted soldiers, as, not saying equal, but they will look at you as an equal person.” “A lot of officers kind of look above us as U.S. enlisted soldiers, and he’s one of the few people that took the time to get to know the soldier, understand you, listen to you, listen to your viewpoints and stuff like that. He was one of the few that cared.”  “I’m actually on my way out of the military, and I joke that I hope one of the last few things I do here is I can take down the other secretary of defense and hang [Hegseth] up on my wall,” Martinez said. The NCO said he believed the fact that Hegseth didn’t retire as a colonel or a general was a plus, recalling times in Cuba when he and his platoon were on duty while

Fox News Politics Newsletter: FEMA’S Got the Bill

Welcome to the Fox News Politics newsletter, with the latest updates on the Trump transition, exclusive interviews and more Fox News politics content. Here’s what’s happening… -Garland intends to release Jack Smith report on Trump election case -Gaetz mulls bid for Florida Governor -Senator Fetterman open to potential Greenland acquisition The Federal Emergency Management Agency (FEMA) will reimburse California for costs associated with hiring more firefighters and controlling the raging wildfires that have ripped through Southern California.  News of the Fire Management Assistance Grants trickled in Tuesday, and by the evening the White House put out a statement from President Biden confirming the move. FEMA confirmed the measures on Wednesday, in an announcement laying out some details about the grants.  The funding will provide federal reimbursements for up to 75% of “eligible firefighting costs” incurred by the state, as California seeks to shore up its firefighting force and put out the wildfires that have killed at least two people and driven thousands from their homes. Eligible costs include expenses for field camps, equipment, materials, supplies and mobilization or demobilization efforts attributed to fighting the fires …Read more DOUBTFUL LEGACY: Majority of Americans say President Biden will be remembered as a below-average president: Gallup …Read more ‘FURTHER THE PUBLIC INTEREST’: AG Merrick Garland intends to release Jack Smith report on Trump election case …Read more STILL THINKING: Biden says pre-emptive pardons for Trump targets still under consideration …Read more ROAD BLOCK: Dems accused of ‘stonewalling’ Tulsi Gabbard confirmation after GOP calls for quick hearing …Read more MAGAFEST DESTINY: Trump flexes his muscles with repeated talk of American expansionism …Read more ‘DRIVING THE WHALES CRAZY’: Trump signals he could oppose new wind energy production during second term …Read more TRUMP TRIAL: President-elect files emergency petition to SCOTUS to prevent sentencing in New York …Read more FIRST ON FOX: Bipartisan lawmakers introduce bill in warning to Putin-allied government …Read more SENATE STEP FORWARD: Dems expected to help advance Laken Riley Act …Read more ‘NEED TO GO’: Fetterman open to potential Greenland acquisition, declares support for Laken Riley Act …Read more BRING BACK DEATH PENALTY: Top Republicans roll out bill that would undo 9/11 plea deals …Read more ‘I SAW IT FIRSTHAND’: Ex-Dem rep calls presidential race ‘unwinnable,’ had concerns about Biden …Read more ‘REVIEWING THE OPPORTUNITY’: Gaetz mulls bid for Florida governor …Read more PARTISAN FLASH POINT: NC Supreme Court blocks election results for one of its own seats amid legal challenge …Read more DRUG DEALERS BEWARE: VA seeks murder charges for fentanyl deaths …Read more TARIFF THREAT: Mexico disperses migrant caravans heading to U.S. ahead of Trump inauguration …Read more ‘TERRIBLE JOB’: Flashback: Trump repeatedly called out Newsom on wildfires in first term …Read more NAME GAMES: Mexico president turns tables on Trump with map idea of her own …Read more ‘TRUE DISASTER’: Trump pins blame for ‘apocalyptic’ wildfires on Newsom …Read more ‘I DON’T KNOW WHAT HAPPENED’: ‘Hillbilly Elegy’ actress says JD Vance’s family was ‘generous’ on set …Read more ‘RAPE GANG SCANDAL’: UK lawmakers reject inquiry despite Musk appeals …Read more DIRECT HIT: U.S. hits underground Houthi weapons depots …Read more Get the latest updates on the Trump presidential transition, incoming Congress, exclusive interviews and more on FoxNews.com.

Alaska sues Biden administration for ‘irrational’ restrictions on Trump-era oil and gas drilling mandate

The Biden administration was sued by the state of Alaska over claims they violated a Trump-era law by narrowing the scope of a mandated oil and gas lease. During President-elect Donald Trump’s first term in 2017, he signed the Tax Cuts and Jobs Act, which required the government to allow for at least two oil and gas drilling lease sales in the Coastal Plain of the Arctic National Wildlife Refuge (ANWR) by December 2024.  With the deadline quickly approaching, the Biden administration announced in December plans to move forward with an oil and gas lease sale of 400,000 acres within the northwest portion of the program area. But the lease, which was the smallest amount required under the Trump-era law, contained some restrictions. In a lawsuit filed on Monday, the state of Alaska sued the Biden administration on claims that they are violating the statutory mandate of Congress by limiting drilling in the region.  TRUMP PLANS TO ‘IMMEDIATELY’ REVERSE BIDEN’S ‘RIDICULOUS’ BAN ON NEW OIL AND GAS DRILLING ALONG US COAST “Interior’s continued and irrational opposition under the Biden administration to responsible energy development in the Arctic continues America on a path of energy dependence instead of utilizing the vast resources we have available,” Alaska’s Republican Gov. Mike Dunleavy said in a statement. In 1980, President Jimmy Carter set aside an area of ANWR, known as “Area 1002,” for the potential future exploration and development of natural resources.  The state of Alaska claims that by limiting drilling in the region, the Biden administration “negates Congress’ express call for oil and gas leasing and development on the Coastal Plain.”  BIDEN MOVING TO BAN OIL AND GAS LEASES FOR 20 YEARS IN NEVADA REGION, JUST WEEKS BEFORE TRUMP INAUGURATION “Congress did not authorize a new direction for ANWR. President Biden’s Administration ignored the law and took this unlawful detour without even presenting their final decision to the public for comment,” Alaska Attorney General Treg Taylor said in a statement. The Biden administration issued restrictions on the lease, such as surface use and occupancy, which the complaint claims could “make any development economically and practically impossible.”  The lawsuit was filed just days before the lease sale is expected to take place on Jan. 9. The Department of Interior told Fox News Digital it would not be commenting on the lawsuit.

Virginia government grinds to a halt as hospitals, residents hit by colossal water plant failure

A water treatment plant failure threw North America’s oldest continuous lawmaking body into crisis this week, as lawmakers were effectively shut out of the Virginia State Capitol for safety reasons. Throughout the rest of Richmond, residents were dealing with a lack of water, and hospitals had to employ tanker trucks to provide the water needed not only to quench patients, but to provide heat and sanitization of medical implements, according to one state lawmaker. The right-leaning group Virginia Project said the crisis may be the reason for the legislature to take an immediate interest in infrastructure funding, before offering a Confederate-era suggestion: “Perhaps the waterless legislature should retreat to Appomattox,” a social media post from the group said, referring to the community about 100 miles southwest of the Capitol: where the Richmond-based Confederate States of America surrendered to the Union in April 1865. YOUNGKIN TO DRAFT SANCTUARY CITY BAN, MAKING STATE FUNDING CONTINGENT ON COOPERATION Others, like Virginia Republican Party chair Richard Anderson, placed blame on the recently-departed Democratic mayor who is now running for lieutenant governor. “[The crisis is] a direct result of inept leadership by former Mayor Levar Stoney of Richmond–who presided over his city’s crumbling infrastructure,” Anderson said. “Stoney as LG? Never.” The crisis hit less than one week after the current Democratic mayor, Dr. Danny Avula, took office. Avula, previously a pediatrician at Chippenham Hospital in neighboring Chesterfield County, said he has been hands-on since the water system first failed. Avula said he spent much of Tuesday night at the city plant and announced Wednesday morning that some of the pumps are beginning to come back online. “We’re starting to see that reservoir level fill up. It’s really encouraging. Right now the reservoir level is at 7ft for some context. [Our] reservoirs typically run at about 18ft.” Avula’s work drew him bipartisan praise, including from one prominent Republican. YOUNGKIN INVITES NEW TRUMP ADMIN TO SETTLE IN VA OVER DC, MD State Sen. Mark Obenshain of Harrisonburg, the Senate GOP Caucus Chair, said he’s never seen a legislative session begin in such chaos in his 21 years in the Capitol. “Kudos to the new mayor for his tireless efforts to resolve this inherited crisis,” he said on X, formerly Twitter.  State Senate Minority Leader Ryan McDougle, R-Hanover, told Fox News Digital the water outage doubly affected his work, as both the Capitol and his district office in nearby Mechanicsville both felt the effects. McDougle said the outage’s reach has gone beyond Richmond’s limits and into Henrico and Hanover counties to the north and east. Constituents have been reaching out to his office for help. McDougle praised Gov. Glenn Youngkin for being “extremely aggressive in trying to find solutions to the problem that was created in the city,” and offered the same for officials in suburban counties. “[We are] trying to make sure that we’re getting water to infrastructure like hospitals, so that they can continue to treat patients and to get water available to citizens so that they can take care of their families. “But this has been a real effort on behalf of the state government and local jurisdictions trying to assist Richmond.” He said Avula does not deserve blame for the crisis, as he only took office days ago. “It’s a shame this had to be on his first week,” McDougle said.  “But we need to really investigate and get to the bottom of how [the Stoney] administration could have let this become such an acute problem that would impact so many people.” Schools in McDougle’s district were shut down Wednesday, and the legislature was gaveled out until Monday — after concerns from leaders and staff that the fire-suppression system in the iconic Capitol could malfunction without enough water flow. McDougle remarked that while exercising caution is wise, Virginia’s spot as the oldest continuous legislature obviously predated utilities, and that the people’s work can and should be done in whatever way possible while the Capitol is out-of-order. Another state lawmaker put the blame at the foot of Richmond’s longtime Democratic leadership. CLICK HERE TO GET THE FOX NEWS APP Del. Wren Williams, R-Stuart, said Richmond has been a city “plagued by systemic neglect and a lack of accountability.” “Now, Stoney wants to be our commonwealth’s next lieutenant governor. Despite the city’s growing infrastructure needs, Democrats in Richmond allowed critical issues like water contamination and aging pipes to fester, leaving residents vulnerable to unsafe drinking water and deteriorating public health,” Williams said. He previously proposed a bill that would have allowed state agencies to study utility upgrades and provide engineering support. With Democrats marginally in control of the legislature and hoping to prevent Youngkin’s deputy Winsome Sears from succeeding him in November, Williams said the crisis is emblematic of Democrats’ “larger failure… in Virginia, where promises of progress and equity often ring hollow when the real work of maintaining essential services is neglected.” Richmond businessowner Jimmy Keady echoed Williams, telling Fox News Digital the crisis isn’t just a failure of infrastructure but of past city leadership: “For nearly 48 hours, businesses have forced to close. Residents were left without clean water, and hourly workers lost wages,” Keady said. “The political implications are just as severe,” added Keady, who is also a political consultant. He noted Virginia’s legislature is only in session for a few months, and referenced how lawmakers must explicitly pass resolutions to extend business beyond a term’s end date. “By losing nearly 11% of this short session, Virginia lawmakers are losing valuable time to pass legislation that will address growing problems throughout our commonwealth, such as economic growth, rising medical costs, and — sure enough — aging infrastructure.” Richmond’s water supply is primarily sourced by the James River. Fox News Digital reached out to Stoney’s campaign and House Speaker Don Scott Jr., D-Portsmouth. Avula could not be reached. In remarks late Wednesday, Youngkin praised public and private partners around the capital region that have helped residents deal with the lack of water, from Avula

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