Ed Kalecki

Hassett has been seen as a top contender to succeed Fed Chair Jerome Powell.

Gold slipped the most in more than two weeks after President Trump expressed reluctance over nominating Hassett as Federal Reserve Chair, casting further doubt over his search for the next head of the central bank.

During an appearance on Fox Business, Treasury Secretary Scott Besant talked about when we may learn of President Trump's choice to lead the Fed.

Meanwhile, Federal Reserve Vice Chair Philip Jefferson said interest rates are near the level that neither slows nor stimulates the economy, leaving officials in a good place to respond to evolving risks.

Jefferson joins a growing group of officials who, following three rate cuts to close out 2025, have declared the Fed's current rate setting is well-positioned to balance the risks to both employment and inflation.

The White House is weighing in executive action to enact President Trump's call for a cap on credit card interest rates, in addition to other measures seeking to ease U.S.

affordability challenges.

The plan, which is still being crafted as administration officials discuss the terms with industry and Congress, is designed to address on credit cards as part of a broader push to reduce costs for Americans.

Trump's action may also call on regulators to relax certain liquidity standards to help make the plan more attractive for the banks.

The Department of Justice is investigating both Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Fry over an alleged conspiracy to impede a federal immigration agent.

Meanwhile, President Trump told reporters Friday he would hold off on invoking the Insurrection Act after previously threatening to use the law to deploy military troops in Minnesota.

Still, the president did not rule out using the 19th century law at a later date, saying, if I needed it, I'd use it.

A day earlier, Trump posted on social media that

that he would institute the Insurrection Act if the state's leaders failed to quell protests there.

The 1807 statute allows the president to use regular military troops on U.S.

soil for domestic law enforcement during an insurrection or civil disturbance without congressional approval.

It was last invoked during the 1992 Los Angeles riots.

The Supreme Court has agreed to hear Bayer's appeal, taking aim at thousands of lawsuits targeting its top-selling Roundup weed killer for causing cancer.

The high court agreed Friday to hear Bayer's challenge to a $1.25 million Missouri jury verdict against the company's Monsanto unit over Roundup on the grounds some of the claims in the 2023 case were preempted by federal law.

Bayer officials hope the justice's ruling will help knock out thousands of Roundup cases that include failure to warn claims.