Alex Ossola

The U.S.

Attorney's Office in D.C., headed by Jeanine Pirro, is requesting information about whether these institutions debanked clients, that is, improperly closed customer accounts for political reasons.

Banks have said they don't close accounts for religious or political reasons and that decisions to avoid certain industries or clients follow the law.

The subpoenas escalate a campaign by President Trump to root out evidence that the banks allegedly discriminated against conservatives and politically controversial industries like gun manufacturers.

On Capitol Hill today, Microsoft co-founder Bill Gates sat for a closed-door meeting in front of a House committee about his relationship with sex offender Jeffrey Epstein.

Gates told Congress that Epstein tried to leverage information about his extramarital affairs, which he said had nothing to do with Epstein.

Gates said today that it had been a mistake for him to ever meet Epstein, which the journal has reported that Gates did multiple times between 2011 and 2014, and that he was sorry he lent Epstein any credibility.

He denied that he had any knowledge of Epstein's criminal activity.

The ranking member on the committee, California Democratic Representative Robert Garcia, said that Gates acknowledged that he was around people who were abused.

Gates also shared names of others in Epstein's circle.

One of those people Garcia wants to speak with is former Harvard president Larry Summers.

Summers has previously said it was a mistake to associate with Epstein and that he was ashamed of some of his correspondence.

New data from the Labor Department today showed that consumer prices were up 4.2 percent in May from a year earlier.

That's a three-year high, though it was in line with economists' expectations.

WSJ economics reporter Harriet Torrey says there are signs that we could be near the worst of this rush of higher prices.

Persistently high inflation is looming large for the Fed, which has its first meeting under new chairman Kevin Warsh next week.

Coming up, stocks dive after that inflation report.

Elon Musk is betting big on retail investors for SpaceX's IPO.

And as the World Cup kicks off, we'll help you choose a team to root for.

Those stories and more after the break.