WASHINGTON — Federal Reserve Chairwoman Janet L. Yellen submitted her resignation Monday, effective when her successor is sworn in, providing President Donald Trump another seat to fill on the central bank’s board.
Trump decided not to renominate Yellen, 71, to lead the Fed, opting this month to tap Fed Gov. Jerome H. Powell instead.
Yellen’s four-year term as the first woman to chair the Fed Board of Governors expires Feb. 3. Her term as a board member doesn’t end until January 2024 and she could have stayed on the Fed board until then.
But it’s standard practice for a Fed leader to step down once his or her term as chair ends. Yellen’s decision was expected and now will give Trump four seats to fill on the seven-member board.
One of Trump’s picks, Randal Quarles, took office last month.
In her resignation letter to Trump, Yellen said it was a “great privilege and honor” to serve at the Fed in different roles dating back to her first stint on the board from 1994-97. Yellen also was president of the Federal Reserve Bank of San Francisco from 2004-10.
She joined the board again in 2010 in the aftermath of the financial crisis and served as vice chair under Chairman Ben S. Bernanke.
—Los Angeles Times
Trump campaign is said to stop paying Donald Jr.’s legal bills
NEW YORK — The Trump campaign has stopped paying legal bills for Donald Trump Jr. and is setting up a legal defense fund to cover the costs for him and other campaign staffers related to investigations into Russian election meddling, said a person familiar with the matter.
A fund for campaign staffers should be running in a few weeks, the person said, adding that the exact structure, how it would be administered and who would be eligible are still being finalized. It also hasn’t been determined yet whether President Donald Trump or the Trump Organization could contribute to the fund.
The Trump campaign’s legal bills have already topped more than $2 million this year, including payments related to the Russia investigations, as well as $287,924 for Trump Jr. With the investigation likely to go well into 2018, those bills could continue to mount. The Trump campaign is limited in how much it can raise per person between now and 2020, while a legal defense fund would have no cap.
White House lawyer Ty Cobb said last week that the president would also assume responsibility for his own legal bills, which could exceed $1 million. Trump’s legal costs had previously been covered by the Republican National Committee, which paid $131,250 to Trump’s attorney Jay Sekulow and $100,000 to attorney John Dowd.
Trump urged to sell $50 million in lethal weapons to Ukraine
WASHINGTON — National security officials are urging President Donald Trump to approve the sale of nearly $50 million worth of U.S. weapons to Ukraine, which has confronted what it sees as military aggression from Russia and pro-Russian separatists for years.
It was unclear whether Trump, who has been reluctant to challenge Russian President Vladimir Putin, will approve the plan.
Congressional and State Department officials said Monday the weapons proposal had gained traction in the National Security Council. The officials asked not to be named discussing internal deliberations.
At the urging of Trump’s then-campaign manager, Paul Manafort, the GOP platform was watered down at the Republican National Convention in 2016 to remove a call to sell lethal weapons to Ukraine — a position long favored by the Republican establishment and ultimately by the Obama administration.
It was later revealed that Manafort had worked for pro-Russian Ukrainian leaders opposed to U.S. support for the government in Kiev. Manafort was indicted last month on charges of failing to register as a foreign agent, money laundering and conspiracy. He has pleaded not guilty.
The weapons sale under discussion would likely include Javelin anti-tank missiles and other high-tech weapons that go beyond defensive arms, a State Department official said. Some details of the package were first reported by ABC News.
Sen. John McCain, R-Ariz., chairman of the Senate Armed Services Committee, has repeatedly urged the Trump administration to supply Ukraine with weapons. Doing so would garner bipartisan support on Capitol Hill.
—Tribune Washington Bureau
Seven years after quake, Haitians to lose deportation protection by 2019
MIAMI — After years of being shielded from deportation from the United States while their disaster-prone country continues to recover from its devastating 2010 earthquake, tens of thousands of Haitians will now lose that safeguard.
The special deportation protection known as Temporary Protected Status, or TPS, will be revoked for at least 50,000 Haitians living and working across the U.S.
The protection will expire July 22, 2019, giving Haitians living in the U.S. under TPS an 18-month window to go back to their struggling homeland or legalize their status in the United States. At the end of the period, Haitians will return to the immigration status they previously held, leaving them facing possible detention and deportation.
The decision comes 14 days after the Department of Homeland Security announced it was terminating TPS for 2,500 Nicaraguans and delaying a decision for 57,000 Hondurans, which automatically gave them a six-month extension after their current status expires in January.
The announcement Monday, while pleasing to immigration hardliners who argue that the provision was never meant to be permanent, deals a hard blow to longtime Haitian and immigration advocates. For months they have lobbied the Trump administration to extend the status for at least 18 months. It had been set to expire Jan. 22.
Argentine navy: Noise detected did not come from missing submarine
BUENOS AIRES, Argentina — A noise detected in the south Atlantic did not come from a missing Argentinian submarine with 44 crew members on board, navy spokesman Enrique Balbi said Monday.
The ARA San Juan disappeared five days ago, triggering a mass search involving ships and aircraft from seven countries.
Hopes that it had been found were kindled earlier after two Argentinian navy vessels detected “a continuing noise” on the route where it disappeared.
But Balbi said a recording of the noise had been analyzed and that it was a “continuous, constant” noise that could be biological, not the sound of Morse code being rapped out on the submarine’s hull, as had been suggested in one news report.
A specialized U.S. aircraft had been sent to the area, about 225 miles east of the Valdes Peninsula in Patagonia, after the noise was detected by two Argentine naval vessels searching for the submarine. It was then taken to a naval base for analysis.
The German-made submarine, with which the navy last had contact on Wednesday, has seven days’ worth of oxygen reserves.
Hope had also been raised earlier by reports that a satellite company recorded seven call attempts, but the navy determined they were not made by the submarine.
Sixteen ships and six aircraft from seven countries have been scouring the southern Atlantic in the hopes of locating the ARA San Juan.
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