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Powell was also asked about the high cost of home ownership and President Trump's trade policies, but as usual, the Fed chair tried to steer clear of politics.

National Security Adviser Mike Waltz said Fogel was released in what he called "an exchange" with Russia and was on his way back to the United States. Terms of the exchange were unclear.

The directors of supervision and enforcement at the Consumer Financial Protection Bureau stepped down, citing the stop work orders issued by Russell Vought, the agency's new acting director.

The disconnect between Emil Bove's aggressive stance at the time to hold rioters accountable — and his current hostility toward the Jan. 6 probe — has troubled some former colleagues.

Trump and Musk spoke as the president signed a new executive order calling on the heads of federal agencies to "promptly undertake preparations to initiate large-scale reductions in force."