Ed Kalecki

District Chief Judge James Bussberg upheld an earlier ruling he made to quash two grand jury subpoenas issued to the central bank by U.S.

Attorney Jeanine Pirro as part of a criminal investigation into the cost overruns and congressional testimony Chair Jerome Powell provided on the matter.

Pirro's office had asked Bussberg to reconsider his decision to reject the subpoenas.

The ruling is the latest development in a legal battle that pits the independence of the Fed against the Justice Department's power to carry out investigations.

The Pentagon's proposed fiscal 2027 budget would significantly ramp up its military firepower.

Bloomberg's Monica Ricks reports.

President Trump Friday issued a memo ordering that the remaining Department of Homeland Security employees be paid during a record-long partial government shutdown impacting the agency.

Trump's move comes with lawmakers deadlocked on how to end the shutdown.

Democrats are seeking changes to Trump's immigration enforcement policies, but congressional Republicans and the White House have balked at those demands.

The president's directive, which he announced earlier this week that he intended to sign, led House Republicans to abandon talk of cutting short a two-week Easter recess to

try to end the impasse.

It was a good Friday for the labor market.

Bloomberg's Mike McKee takes a look at the numbers.

Bloomberg's Mike McKee on Bloomberg surveillance.

Bloomberg opinion contributor and former New York Fed President Bill Dudley says that with the current uncertainty, it's best for the Fed to do nothing.

Dudley spoke on Bloomberg surveillance.

Bloomberg opinion contributor and former New York Fed President Bill Dudley on Bloomberg surveillance.

French President Emmanuel Macron is calling on medium-sized powers to join forces and stand up to the U.S.

and China.

Macron hammered the message during his tour of Asia this week, where he discussed maritime security in the Strait of Hormuz and closer cooperation with South Korea and Japan, two countries badly suffering from high energy costs as the war in Iran keeps the Strait closed.