Democratic Sen. Adam Schiff, D-Calif., said on Sunday that he took issue with the Democratic response in the chamber to President Donald Trump’s wide-ranging address to Congress last week.
“I think the lack of a coordinated response in the State of the Union was a mistake, and frankly, it took the focus off of where it should have been, which is on the fact that the president spoke for an hour and 40 minutes and had nothing to say about what he would do to bring down costs for American families that were watching that lengthy address sitting at the kitchen table, hoping that he would offer something to help them afford a new home or pay the rent to afford health care or child care,” Schiff said on “This Week.”
Democratic lawmakers participated in various protests during Trump’s speech. Some female members of Congress wore hot pink to show resistance. Other Democratic members held signs that called out Elon Musk. Some decided to boycott the speech or leave early.
Schiff refuted Democratic strategist James Carville’s recent proposal in a New York Times op-ed that Democrats should “roll over and play dead” and wait for Republicans “to crumble beneath their own weight,” with the California senator instead saying that the right approach is focusing on “the economic well-being of Americans.”
“We need to have our own broad, bold agenda … to answer really the central question which is, if you’re working hard in America, can you still earn a good living?” said Schiff. “We need to be advancing policies and making the arguments about what we have to offer, not simply standing back and letting them collapse of our own corrupt weight. We need to effectively use litigation as we are. We need to effectively use communication to talk to new people in new ways as we are.”
Schiff also expressed frustration and disapproval of Trump’s whiplash tariff agenda.
Trump on Tuesday imposed a 25% tariff on goods coming from Canada or Mexico. The following day, he issued a one-month delay for auto parts. By Friday, Trump signed an executive order that extended the delay to all products under the United States-Mexico-Canada Agreement, USMCA, which is a free trade agreement signed during Trump’s first term. Roughly half of Mexican imports fall under USMCA and about 38% of imports from Canada fall under the agreement.
Schiff said that Democrats have to start responding to Trump’s tariffs and economic policies more effectively.
“This is deeply destructive, what they’re doing,” he said. “We need to make that case to the American people, because they’re going to feel it. But, you know, taking our eye off the ball, I think, is very dangerous, and so let’s be focused on what matters most to Americans. Let’s point out all the destructive harms they’re doing with you know, the cutting of services, the slashing of Medicaid, and what that’s going to mean for increased health costs and less access for people.”
(FORT MYERS, Fla.) — A man who escaped a Puerto Rican prison nearly 40 years ago was taken into custody in Florida, according to the Lee County Sheriff’s Office.
Jorge Milla-Valdes escaped from a Puerto Rican prison in 1987. The Puerto Rico Department of Justice believed he was living under the name Luis Aguirre.
His criminal history included robbery and aggravated battery with a deadly weapon in Florida’s Monroe County, according to the sheriff’s office.
The LCSO Fugitive Warrants Unit searched for Milla-Valdes and obtained the original 1986 fingerprints from Puerto Rico, and a set from his criminal history in Monroe County.
“Latent Fingerprints Supervisor Tina Carver expedited the fingerprint comparison. 15-minutes later -and using finger prints that were taken over 40 years ago- Supervisor Carver was able to match the prints, and confirm that Aguirre and Milla-Valdes was the same individual who had escaped,” the sheriff’s office said.
The fugitives unit was informed of the match and Milla-Valdes was taken into custody two hours later in Ft. Myers Shores, according to the sheriff’s office.
“They don’t want me. They told me about two times,” Milla-Valdes told officers as he was taken into custody, police bodycam footage shows.
“Now they do. They changed their mind,” an arresting officer responded.
The sheriff applauded his unit’s fast response.
“My team’s skill is unmatched at every level; even if your crimes don’t start here in Lee County, I promise, they WILL end here,” Lee County Sheriff Carmine Marceno said in a statement.
(NEW YORK) –At least 20 people have died and 55 are injured as the casualties continue to rise Saturday following an overnight blitz by Russia near Donetsk in Ukraine, officials said.
“Last night, the Russian army fired two ballistic missiles at the center of Dobropillya in the Donetsk region,” according to a translated statement on Telegram from Ukrainian President Volodymyr Zelenskyy Saturday morning. “After our services arrived at the scene, they launched another strike, deliberately targeting rescuers. A vile and inhumane tactic for intimidation that the Russians often resort to.
Zelenskyy confirmed that several children were among those injured, while a total of eight five-story buildings were damaged.
“I thank all emergency services, police, the State Emergency Service, and doctors who, despite the threat of repeated strikes, are not afraid and are saving people from this terror. To everyone who protects life, risking their own,” Zelenskyy said. “Such strikes show that Russia’s goals are unchanged. Therefore, it is very important to continue to do everything to protect life, strengthen our air defense, and tighten sanctions against Russia. Everything that helps Putin finance the war must break down.”
These latest strikes come just over 24 hours after the United States paused intelligence sharing with Ukraine. This means Ukrainian forces have now lost access to Maxar satellite imagery, a Ukrainian military source told ABC News as Russia continued to carry out attacks on the country this week.
Ukrainian access to U.S. government-purchased commercial satellite imagery, which includes Maxar, was suspended, a National Geospatial-Intelligence Agency (NGA) spokesperson told ABC News.
“In accordance with the Administration’s directive on support to Ukraine, NGA has temporarily suspended access to the Global Enhanced GEOINT Delivery system, or GEGD, which is the primary portal for access to U.S. government-purchased commercial imagery,” an NGA spokesperson said in a statement on Friday.
Starlink remains operational, and Ukraine continues to use the company’s satellite systems, a U.S. official told ABC News.
Ukraine’s European allies had harsh words for Russia and President Donald Trump’s stance on the war following the night of deadly strikes.
“This is what happens when someone appeases barbarians. More bombs, more aggression, more victims. Another tragic night in Ukraine,” Polish President Donald Tusk posted to X.
The European Union’s high representative for foreign affairs, Kaja Kallas, said, “Russian missiles keep relentlessly falling on Ukraine, bringing more death and more destruction. Once again, Putin shows he has no interest in peace. We must step up our military support – otherwise, even more Ukrainian civilians will pay the highest price.”
Russia has dramatically increased the number of drones launched against Ukrainian cities in recent months.
It now appears likely that Russia will try to increase these attacks at a critical time as the end of U.S. intelligence sharing and supplies of anti-aircraft missiles could weaken Ukraine’s ability to defend against them.
With Russian missiles and drone attacks a nightly occurrence in Ukraine, the country has become largely reliant on Western anti-air weapons to defeat incoming projectiles.
U.S. intelligence sharing with Ukraine had allowed Kyiv to give warnings to targeted areas ahead of Russian drone and missile strikes, tracking Russian aircraft taking off, drones being launched and missiles being fired.
Trump has repeatedly — and falsely — blamed Ukraine for starting the war with Russia while seeking to undermine Zelenskyy’s legitimacy as president. The White House is pushing Kyiv to accept a deal to end the fighting and to sign an agreement giving the U.S. access to Ukrainian mineral resources.
ABC News’ Morgan Winsor and Joe Simonetti contributed to this report.
(NEW YORK) — For the last 130 years, four generations of Ernest Lepore’s family have baked the pastries – cream puffs, cannoli, sfogliatelle – that have come to define Manhattan’s Little Italy neighborhood, withstanding wars, economic downturns and drastic changes to the neighborhood that his family calls home.
But with the soaring cost of eggs – a staple ingredient in nearly half their products – it’s becoming increasingly difficult for Ferrara Bakery to avoid raising their prices.
“We can’t keep passing on costs to our guests,” Ferrara’s president, Ernest Lepore, told ABC News. “As you move closer to Easter, eggs are just growing exponentially in price. I can’t do anything about it.”
Egg prices have skyrocketed over the last year, reaching historic highs, and wholesale shoppers like small businesses were paying over $8 for a dozen eggs last week. According to the latest USDA report, released Friday, the national average wholesale price has dropped slightly to $6.85 per dozen.
However, many grocery stores sell their eggs at a loss to get customers in the door, bringing the average retail price of a dozen eggs to just under $5. According to the Bureau of Labor Statistics, the average price of a dozen eggs at the grocery store reached a record high of $4.95 in January 2025. More, the USDA predicted that prices might increase 40 percent this year, and experts are warning that those prices might stay high even if the supply of eggs in the U.S. rebounds.
But small businesses, unlike grocery shoppers, are tied to the market wholesale price, making these surging costs particularly devastating.
Theodore Karounos, owner of Square Diner in New York’s downtown neighborhood of Tribeca, said that translates into tens of thousands of dollars in additional yearly costs for him.
“If things hold up at this price, and we stay as busy as we were last year, I’ll pay $70,000 more for eggs than I did last year,” he told ABC News. “I can’t just absorb that hit for the next nine months.”
The exorbitant costs are a result of a nationwide shock to supply, brought about by a ravaging outbreak of the avian flu. The Centers for Disease Control and Prevention reports that over 166 million commercial poultry birds have been affected since 2022, when the outbreak began. But the last few months have been especially devastating.
“In just four months, we’ve lost 52 million layers and pullets within our nation’s egg supply, which is vastly different than any other outbreak that we’ve seen in the past.” Karyn Rispoli, managing editor of Expana, a firm that surveys and tracks the price of eggs, told ABC News. “The biggest difference of late is just that it has been more lethal and really devastated our nation’s egg supply.”
The avian flu has wreaked havoc on poultry flocks across the country. As a result, Rispoli says that the nation’s supply of egg-laying hens is at nearly a ten-year low. Once one chicken is infected, farmers are forced to cull the remainder, after which comes the challenge of repopulating their flocks.
But even as the U.S. faces an egg shortage, demand for the commodity remains relatively constant, creating a perfect storm for egg prices to soar. Consequently, those small businesses that rely on eggs, like Ferrara Bakery and Square Diner, are forced to make difficult decisions.
Unlike larger restaurant chains like Denny’s and Waffle House, which have adjusted to the surging costs by adding an egg surcharge to their menu item prices, smaller businesses are less inclined to follow suit, according to Dartmouth College economics professor Bruce Sacerdote.
“In the case of a restaurant, they aren’t necessarily able to pass on the full price increase. We’re not talking about a simple commodity where the markets clear immediately and you just have to pass on the full price increase,” he told ABC News. “Restaurants may be taking a hit to their margins in order to not pass on the full price increase.”
At Tom’s Restaurant on New York City’s Upper West Side – famous as the setting for the fictional Monk’s Café in the TV series “Seinfeld” – the soaring cost of eggs means that co-owner John Ieromonahos is spending an additional $2,000 a week to pay for eggs to continue supplying the restaurant, where approximately 70 percent of their business is breakfast.
“Of course, we don’t want to charge extra to customers,” Ieromonahos said. “This is not our customer’s fault, but I don’t know how long we’re going to last without charging extra.”
At The Hungarian Pastry Shop in Manhattan, owner Philip Binioris told ABC News that he’s trying his best not to pass the higher cost of eggs on to consumers, though he, too, isn’t sure how long he can absorb the increasingly prohibitive cost.
“It’s frustrating. I would like to not raise our prices. I think that we have fair prices, and I like to be able to keep them stable,” he said. “I’m just kind of waiting to see how bad this gets before I make a decision on how I’m going to change prices. It’s tight.”
While consumers, small businesses and their customers continue to shell out more for eggs amid the avian flu outbreak, the nation’s largest producer and distributor of eggs has reported soaring profits.
Cal-Maine Foods, according to SEC filings, saw an over three-fold increase in their gross profits in their fiscal year 2023, at the dawn of the bird flu outbreak. And according to their most recent filing, their gross profits are up 342% through the second quarter of their fiscal year 2025 versus the previous fiscal year.
Rispoli also told ABC News that grocery shoppers could see increased prices even when the egg supply does begin to recover, as grocery stores may seek to recoup lost earnings. She said that happened when egg prices soared at the beginning of the current avian flu outbreak.
“In the aftermath of that, as the market corrected and came down substantially, retailers were then holding shelf prices higher to try and recapture some of the margin that they had previously forfeited,” she said.
Back at Ferrara in Little Italy, Lepore is searching everywhere to find other ways to save money so he doesn’t have to increase their prices. He recently upgraded his building’s cooling system and improved his refrigerators, saving money on electricity in the long term. He also is taking a lesson from his grandparents, who kept the business going through the Great Depression, by baking smaller batches of goods in order to more easily keep product fresh and avoid waste.
“Eggs are determining production,” he said. “As we are going into Easter, I am going to be baking at the last minute not to waste an egg, because there can’t be any left over.”
(TORONTO) — At least 12 people have been injured in a shooting at a pub in Toronto on Friday night, police said.
The victims all ranged in age from their 20s to mid-50s, according to the Toronto Police Service. Six of them suffered gunshot wounds, but there were no life-threatening injuries,
Police said they are searching for three male suspects.
The Toronto Police Service said they were deploying all available resources to locate and arrest those responsible and that more updates will be given on Saturday morning.
This is a developing story. Please check back for updates.
ABC News’ Morgan Winsor contributed to this report.
(ROME) — As Pope Francis begins his 23rd consecutive day in hospital, the Vatican says that his “overall condition remains stable within his complex medical situation and the prognosis remains reserved.”
“The pope had a quiet night,” the Vatican said Saturday morning. “The pope is resting.”
On Friday, the 88-year-old pontiff “spent about 20 minutes in prayer in his chapel on the 10th floor apartment and the rest of the day alternated between rest, physiotherapy, prayer and a bit of work,” the Vatican said.
He continues to use “high-flow oxygen therapy during the day and non-invasive mechanical ventilation at night as he has done these past days,” according to the Vatican.
“The doctors are still maintaining the prognosis as reserved,” the Vatican said.
Francis, who has led the Catholic Church since 2013, was admitted to Rome’s Gemelli Hospital on Feb. 14 and was diagnosed with bilateral pneumonia.
(WASHINGTON) — David Sacks, the White House crypto czar, said Friday that taxpayers have lost out on “over $17 billion of value” because earlier administrations never took advantage of bitcoin already in the U.S. government’s possession.
“Over the past decade or so, the federal government has come into the possession of roughly 400,000 bitcoin through civil or criminal asset forfeitures,” Sacks said in an interview with ABC News’ Senior White House Correspondent Selina Wang on Friday. “We’ve had this very ad hoc strategy where we just would sell the bitcoin, sort of almost willy-nilly, and we sold about half of it. We only made about $400 million. Today, that bitcoin would have been worth over $17 billion, so the American taxpayer lost out on over $17 billion of value.”
Sacks’ comments follow President Donald Trump signing an executive order on Thursday that creates a strategic bitcoin reserve and U.S. digital assets stockpile. Senior White House officials said bitcoin is being treated differently from other cryptocurrencies because it is the “original” cryptocurrency and there is a finite amount.
Sacks brushed off repeated questions about whether this could pose a conflict of interest since President Donald Trump has a personal financial stake in the success of the industry after launching his own cryptocurrency company, World Liberty Financial, days before the inauguration.
“It’s not an issue,” Sacks told Wang.
When asked about Bloomberg News’ reporting that World Liberty Financial appears to have bought more than $20 million in cryptocurrency two days before the White House’s Digital Assets Summit on Friday, Sacks said: “You should talk to them about that. That’s a private company. I’m not a regulator. I’m a policy adviser for innovation. I don’t keep tabs on what individual companies are doing.”
Sacks stressed that the government is not buying any cryptocurrency, just using the cryptocurrency that has already been accumulated through criminal or civil asset forfeitures.
“Any further accumulation of bitcoin by the government has to be done in a completely budget-neutral way. It cannot add to the deficit, it cannot add to the debt, it cannot tax the American people,” Sacks said. “So this is about maximizing the value of assets that we already have on our balance sheet.”
When asked by ABC News how the government could “accumulate” more bitcoin in a budget-neutral way, Sacks said those programs don’t exist, noting the administration is still in the planning phase and that the executive order calls on the secretaries of the Department of Commerce and the Department of Treasury to “think about that.”
“It won’t cost the taxpayer dimes, but if the secretaries can figure out how to accumulate more bitcoin without costing taxpayers anything, then they are authorized to do that,” the senior White House officials added.
Sacks repeatedly compared bitcoin to U.S. holdings of gold, explaining that the U.S. won’t be selling it, unless Trump changes his mind down the road.
“We’ve got about a trillion dollars of gold in Fort Knox and our other depositories,” he said. “We don’t sell that gold, even though we could use it to pay off a trillion dollars of national debt. The reason why we don’t sell it, liquidate it all today is because we believe it’s strategic for the United States to have a stockpile or reserve of that asset.
“In a similar way, we believe it’s in the long term interest the United States to hold on to this bitcoin,” he added. “Look, if the president changes his mind at some point in the future, he could issue a new executive order and say, the secretary of the treasury, get rid of it, sell it. But we don’t want to do that.”
White House officials also noted that an official audit of the government’s digital asset holdings has never been completed but will be following the president’s executive order, allowing the administration to get a more concrete understanding of what the U.S. possesses.
(WASHINGTON) — As the Department of Government Efficiency rapidly moves to reshape the federal government, several groups challenging DOGE in court are attempting to determine how Elon Musk’s budget-slashers were able to rapidly entrench themselves in at least 15 agencies.
Over the coming week, federal judges have ordered key Trump administration officials to testify about mass firings and the dismantling of key agencies, while DOGE representatives will likely have to turn over evidence in dozens of cases and participate in a sworn deposition for at least one case.
The legal challenges materializing against DOGE could present an existential challenge for the group, whose effectiveness has in part stemmed from its ability to move quickly and make massive changes without the normal oversight.
While Musk and Trump have touted DOGE’s transparency — including on DOGE’s website, where it lists recently canceled contracts — the plaintiffs challenging the group have argued that the group has relied on secrecy to hide tactics that violate federal law.
“[T]he entity has worked in the shadows — a cadre of largely unidentified actors, whose status as government employees is unclear, controlling major government functions with no oversight,” one lawsuit alleged.
That secrecy has also made it harder for nonprofits or federal unions to successfully block DOGE in court, with many plaintiffs relying on media reporting — rather than documentary evidence — to prove the harms DOGE has allegedly caused.
“The court can’t act based on the media reports. We can’t do that,” one federal judge said in a case about the constitutionality of Musk’s power. “The things that I’m hearing are concerning indeed and troubling indeed, but I have to have a record, and I have to make a finding the facts before I issue something.”
But that might begin to change as the cases against DOGE progress and plaintiffs are entitled to receive discovery — i.e., the exchange of evidence — relevant to key allegations. At least one federal judge has ordered a DOGE representative to sit for a sworn deposition about the group’s access to the federal government’s sensitive data.
A federal judge in Washington, D.C, was scheduled Friday afternoon to consider what kind of regulations will govern the transparency behind DOGE after the group argued it shouldn’t be subject to the Freedom of Information Act, and next week might provide some of the first sworn testimony about Trump’s effort to rapidly reduce the size of government since retaking office.
On Monday, a federal judge in Washington is holding a hearing at which the acting chief operating officer of the Consumer Finance Protection Bureau has been ordered to testify about the ongoing dismantling of the agency, and a separate judge in California on Thursday is requiring the acting director of the Office of Personnel Management to testify under oath about how the Trump administration allegedly ordered the mass firing of probationary employees.
“We will prove in this case that remarkably, and I do not say this lightly, your honor, Acting Director [Charles] Ezell is not telling the truth to this court,” a lawyer challenging the mass firings alleged, prompting the judge overseeing the case to order Ezell to testify in person.
“We’re going to have Ezell come out here and he’s going to be under oath right up there and these lawyers are going to quiz him,” U.S. District Judge William Alsup said.
During a court hearing on Thursday about Ezell’s testimony, lawyers with the Department of Justice said the administration is considering making Ezell unavailable for testimony despite the court’s order, citing logistical concerns and their potential appeal of the decision. Lawyers for the plaintiffs called the move a clear defiance of a court order and a delay tactic.
“No final decision had been made,” a DOJ lawyer told Judge Alsup, suggesting the final decision would be made in Washington.
The Trump administration has already begun its appeal in more than a dozen cases challenging Trump’s executive actions, and two adverse rulings have already reached the Supreme Court.
(AUSTRALIA) — The discovery of a massive crater formed by the impact of a meteorite more than three billion years ago is changing the way scientists view the history of Earth and the planet’s stages of evolution.
Researchers in Australia found the crater in Western Australia’s Pilbara region and believe it’s the oldest impact crater in the world, at about 3.5 billion years old. That surpasses the previous record-holding impact crater by more than 1.25 billion years, according to a paper published in Nature Communications on Thursday.
A distinctive rock formation helped the research team locate the Pilbara crater. “Exceptionally preserved” shatter cones – that is, cone-shaped fractures found in rocks that have been subjected to extreme pressure from a shock wave – were located near the impact site, a 62-mile-wide area now called North Pole Dome, the scientists said.
The shatter cones offer “unequivocal evidence” of a very high-speed impact about 3.47 billion years ago, the researchers said. The meteorite likely struck Earth at more than 22,370 miles per hour, according to the paper.
The “major planetary event” would have resulted in a crater more than 60 miles wide, the researchers said.
In addition, the Pilbara crater sheds new light on how meteorites shaped the Earth’s early environment, said Chris Kirkland, a geologist at Curtin University in Australia and co-lead author of the study, in a statement.
The meteorite strike may have even contributed to the formation of cratons, which are large, stable landmasses that became the foundation of continents, Kirkland said.
The impact could have kicked up rock deep beneath the earth that eventually spread globally as the meteorite strike sent debris flying. The age of the impact is “statistically indistinguishable” from old rock beds in South Africa, according to the study.
“[T]he tremendous amount of energy from this impact could have played a role in shaping early Earth’s crust by pushing one part of the Earth’s crust under another, or by forcing magma to rise from deep within the Earth’s mantle toward the surface,” Kirkland said.
Previous research indicates that large impacts were common in the early solar system, said Tim Johnson, a geologist at Curtin University and a co-author of the paper, in a statement. The moon itself, with more than a million craters exceeding one kilometer (.62 miles) in diameter, is evidence of “intense bombardment,” according to the paper.
Impact craters also create friendly environments for microbial life, such as hot water pools, Kirkland said. The East Pilbara Terrain, which is part of the Pilbara Craton, contains an approximately 125-mile-diameter landmass containing mostly Paleoarchaean cratonic crust, estimated to be about 3.48 billion years old, according to the paper.
The second-oldest impact crater, estimated to have been created about 2.2 billion years ago, is also located in Western Australia, southwest of Pilbara, in Yarrabubba.
The discovery of the Pilbara crater challenges previous assumptions about the planet’s ancient history and provides a “crucial piece of the puzzle of Earth’s impact,” Johnson said.
The findings also suggest there could be other ancient craters on Earth waiting to be discovered, according to Johnson.
“Until now, the absence of any truly ancient craters means they are largely ignored by geologists,” he said.
(WASHINGTON) — Fed Chair Jerome Powell said on Friday that the Trump administration’s tariffs would likely raise prices for U.S. shoppers and retailers.
The scale and duration of the tariffs remain unclear but a portion of the taxes on imports will probably reach consumers, Powell told an economic forum in New York City on Friday.
“We’re at a stage where we’re still very uncertain about what will be tariffed, for how long, at what level,” Powell said. “But the likelihood is some of that will find its way. It will hit the exporters, the importers, the retailers and to some extent consumers.”
The Trump administration slapped 25% tariffs on goods from Mexico and Canada, as well as 10% tariffs on imports from China. The fresh round of duties on Chinese goods doubled an initial set of tariffs placed on China last month.
Tariffs of this magnitude are widely expected to increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers.
“Everybody is forecasting some inflation effect from tariffs,” Powell said on Friday.
The remarks from Powell at the annual US Monetary Policy Forum marked a notable prediction from the nation’s top central banker charged with keeping inflation under control.
While acknowledging the likelihood of price hikes, however, Powell said the Fed’s response would depend on what exactly transpires.
A potentially temporary bump in prices may not warrant intervention, while a more sustained increase could require action, Powell said, noting that the strength of the economy affords the Fed time to assess the impact.
“In some cases, where we think it’s a one-time thing, the textbook would be to look through it,” Powell said. “If it turns into a series of things and it’s more than that — [and] if the increases are larger — that would matter.”
Powell spoke hours after Trump on Truth Social threatened to slap tariffs, sanctions and other measures on Russia in response to conduct in the war with Ukraine.
The tariffs may become necessary “based on the fact that Russia is absolutely ‘pounding’ Ukraine on the battlefield right now,” Trump said.
The potential move could expand Trump’s confrontational trade policy beyond an initial set of countries targeted this week.
Later on Friday, Trump told reporters at the White House that tariffs could cause “some disturbance” for the U.S.
The Trump administration has eased some of the tariffs against Canada and Mexico in recent days.
Trump issued a one-month delay for tariffs on auto-related goods from Mexico and Canada. The carve-out expanded soon afterward with an additional one-month pause for goods from Mexico and Canada compliant with the United States-Mexico-Canada Agreement, or USMCA, a free trade agreement.
In addition to tariffs, Powell mentioned other economic proposals pursued by the Trump administration, including measures affecting fiscal policy and regulation.
“The new administration is in the process of implementing significant policy changes,” Powell said. “Uncertainty around these changes and their likely effects remains high. We are focused on parsing the signal from the noise as the situation evolves. We are not in a hurry.”
