Kim Vennell

Trump on social media called it a wonderful gesture of mutual respect.

Now, there's been a lot of talk about who is going to replace Jerome Powell as chair of the Federal Reserve, but less has been said about what Powell will do once his term as chair ends in May.

You see, Powell's separate seat as a Fed governor doesn't expire for two more years, and the recent threat of a criminal indictment by the Department of Justice may have changed his calculus.

Our Fed reporter Howard Schneider has been looking into it and what it would mean if Powell decides to stick around.

If you're in the mood for some more econ and finance news to round out your week, check out our markets sister podcast, Morning Bid.

You can find it wherever you get your podcasts.

Federal prosecutors in Pennsylvania have charged 26 people with rigging bets on college and Chinese professional basketball games.

The scheme allegedly started in 2022 with bribing players in China's professional league to underperform, then expanded to U.S.

college basketball last season, with players paid to make sure their teams fell short of the projected spreads.

It's the latest in a wave of sports betting scandals since legalization.

Two of the defendants were already facing charges in a separate NBA bet rigging case.

A South Korean court has sentenced former president Yoon Suk-yeol to five years in prison.

It's for charges including obstructing attempts to arrest him following his failed bid to impose martial law.

Yoon's lawyer says he plans to appeal.

Separately, Yoon faces a number of other trials, including on a charge of masterminding insurrection.

Protesters have asked the court to give him the death sentence on that charge, with a ruling scheduled for February.

Meanwhile, hundreds of South Korean firefighters were battling a major fire in an area often described as Seoul's largest remaining shantytown.

Guryong Village is a pocket of ramshackle housing in the otherwise upmarket Gangnam district.

The makeshift homes are often densely packed together and built with highly flammable materials.

The area is due to be redeveloped into high-rise residential buildings.