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Federal Reserve
Warsh’s Fed independence stance draws concern over balance sheet
The Fed chair nominee says rate policy should be independent, but former officials told CNBC his comments on Treasury coordination leave important powers unclear
Strait of Hormuz standoff
Trump says U.S. will guide stranded ships through Hormuz as gas prices rise
The operation, dubbed Project Freedom, is aimed at vessels from countries not involved in the Iran war, but Tehran says U.S. forces entering the strait would be attacked
Late-night fallout
Melania Trump adviser urges advertisers to drop Kimmel after ‘widow’ joke
Marc Beckman said ABC should fire Jimmy Kimmel after Melania and Donald Trump condemned a monologue joke the host says was about the couple’s age difference
U.S.-Iran talks
Trump says he is ‘not satisfied’ with Iran’s new peace proposal
Pakistani officials said Iran sent an updated offer as Washington faces a war powers deadline and the Strait of Hormuz standoff keeps raising global shipping costs
Derby betting
Why prediction markets are sitting out the Kentucky Derby
Churchill Downs’ CEO says horse-racing wagers require track permission, and the Derby’s owners are not interested in cutting a deal with prediction platforms
Real estate
Buyers emerge for former Hudson’s Bay stores in four cities
Court filings list prospective purchasers for ex-HBC sites in Vancouver, Calgary, Ottawa and Windsor, but do not disclose prices or redevelopment plans
Election case
Former New Jersey mayoral candidate admits forging voter forms
Henrilynn Ibezim pleaded guilty to third-degree forgery in a case involving nearly 1,000 voter registration applications from Plainfield’s 2021 Democratic primary
Trade tensions
Trump says EU car and truck tariffs will rise to 25%
The president accused the European Union of failing to comply with last year’s trade deal but did not explain the alleged breach. The higher rate is set to take effect next week
Supreme Court
Alito challenges race-bias argument in TPS case at Supreme Court
The justices are weighing whether courts can review the Trump administration’s move to end deportation protections for Haitians and Syrians
Oil and Iran tensions
Oil drops as Iran sends updated proposal, but Trump says offer falls short
Crude prices retreated after Pakistani officials said mediators received Tehran’s latest proposal, while the White House argued a War Powers deadline no longer applies