Fed Governor Kugler is resigning, giving Trump a nominee on committee that sets interest rates

Federal Reserve Governor Adriana Kugler announced Friday she is stepping down from her role at the central bank, creating an important vacancy at a time when President Donald Trump is pushing for lower interest rates.

In a letter addressed to Trump, Kugler, 55, did not state a reason for her decision to leave, only noting that she will be returning to Georgetown University as a professor in the fall.

“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” Kugler wrote. “I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.”

Kugler’s term was set to expire at the end of January 2026. A Biden nominee, she joined the Board of Governors in September 2023, filling the unexpired term of Lael Brainard, who left to serve as a Biden economic advisor. As a governor, Kugler was a permanent voter on the rate-setting Federal Open Market Committee.

Her resignation now paves the way for Trump to put his own nominee in for the board. Two of his prior appointments, Christopher Waller and Michelle Bowman, voted against the decision at Wednesday’s meeting to hold the Fed’s key rate steady, instead indicating they wanted to lower. Kugler was absent for the vote.

Trump alleged without proof that Kugler resigned over a disagreement with Powell on interest rates. Trump added that he was “very happy” about having a Fed vacancy to fill.

Kugler of late has expressed generally hawkish views, with support for holding rates steady until the impact Trump’s tariffs are having on inflation becomes clearer.

Fed Chair Jerome Powell wished Kugler well, saying “She brought impressive experience and academic insights to her work on the Board.”

Trump has said he would litmus test any potential nominees and would only support those in favor of lower interest rates.

In addition to Kugler’s departure, Powell’s term ends in May, though he could choose to stay on as governor into 2028.

Regardless, Kugler leaving would allow Trump to get someone who shares his views on rates and who might be targeted to fill Powell’s seat. The president and some of his advisors have toyed with the idea of a “shadow chair” who essentially could act as a gadfly on the board until Powell leaves.

https://www.cnbc.com/2025/08/01/federal-reserve-governor-kugler-part-of-the-committee-that-sets-interest-rates-is-resigning.html

DEI barred in Kansas government, universities beginning Aug. 1

TOPEKA — Kansas lawmakers killed diversity, equity and inclusion, or DEI, practices in all forms of state government, including universities, after slipping a provision into the state budget.

Ahead of the Aug. 1 deadline to abide by the provision, Kansas Secretary of Administration Adam Proffitt confirmed Tuesday that all state agencies, universities and contracts have eliminated positions, mandates, programs, activities, training requirements, grants and contracts related to DEI.

The Kansas Department of Administration examined around 20,000 job titles across all state agencies, searching for key terms including diversity, equity, inclusion and DEI, Proffitt said at a meeting of the State Finance Council, which included Gov. Laura Kelly and legislative leaders.

He said he is confident those positions don’t exist. If they did, the people in those positions were reassigned, he said. The department also scoured state training requirements and contracts to ensure DEI was not part of them.

“Now, I want to be crystal clear,” Proffitt said. “That’s not to say that some entities that we contract with don’t also provide DEI services, but the intent of this proviso was to ensure that those weren’t required within contracts with the state of Kansas.”

Proffitt coordinated with Blake Flanders, president of the Kansas Board of Regents, to implement the provisions, including a statewide email signature policy requiring employees to remove “gender identifying pronouns or gender ideology from email signature blocks on state employees’ email accounts and any other form of communication.”

Senate President Ty Masterson, an Andover Republican, requested that Proffitt investigate Kansas State University’s diversity, equity, inclusion and belonging committee to ensure compliance with the provision. The results of that investigation are expected at the council’s next meeting.

https://kansasreflector.com/briefs/dei-barred-in-kansas-government-universities-beginning-aug-1/

Palantir lands $10 billion Army software and data contract

-Palantir has inked a contract with the U.S. Army worth up to $10 billion over the next decade.

-The agreement provides purchasing flexibility and removes contract-related fees and procurement timelines, the Army said.

-Palantir has been a key beneficiary of President Donald Trump’s clampdown on cost efficiencies using artificial intelligence.

Palantir

has inked a contract with the U.S. Army worth up to $10 billion to meet growing warfare demands over the next decade.

As part of the deal, Palantir will help the military streamline efficiencies while preparing for threats, consolidating 75 total contracts into one enterprise deal, the release states.

The agreement creates a “comprehensive framework for the Army’s future software and data needs” that provides the government with purchasing flexibility and removes contract-related fees and procurement timelines, according to a release.

The deal further cements the company’s role in the U.S. government’s clampdown on cost efficiencies by using artificial intelligence tools in President Donald Trump’s administration. Trump’s Department of Government Efficiency has cut jobs and programs in an effort to curb spending.

Palantir co-founder and CEO Alex Karp has been a vocal proponent of protecting U.S. interests and joining forces on AI to fend off adversaries.

Shares of the Denver-based artificial intelligence software company have more than doubled year to date.

Earlier this year, Palantir delivered its first two AI-powered systems in its $178 million contract with the U.S. Army. In May, the Department of Defense boosted its Maven Smart Systems contract to beef up AI capabilities by $795 million.

https://www.cnbc.com/2025/08/01/palantir-lands-10-billion-army-software-and-data-contract.html

Tesla hit with $243 million in damages after jury finds its Autopilot feature contributed to fatal crash

The verdict follows a three-week trial that threw a spotlight on how Tesla and CEO Elon Musk have marketed their driver-assistance software.

In a landmark Miami trial, a federal jury found Tesla partially liable for a 2019 fatal crash involving its Autopilot system. The jury awarded $243 million in damages—$43 million in compensatory and $200 million in punitive—after determining Tesla bore one-third of the blame, with the distracted driver responsible for the rest. The crash killed 20-year-old Naibel Benavides Leon and injured her boyfriend when the Tesla failed to stop at a T-intersection.

Plaintiffs argued Tesla misled consumers about Autopilot’s capabilities, creating a false sense of security. Tesla denied fault and plans to appeal, insisting the driver was solely responsible. The case spotlighted growing concerns over Tesla’s driver-assistance technology and its marketing, with regulators already linking Autopilot to hundreds of crashes. The verdict could have lasting implications for the future of autonomous vehicle liability and safety standards.

https://www.nbcnews.com/news/us-news/tesla-autopilot-crash-trial-verdict-partly-liable-rcna222344

NBA reportedly seeking $500 million or more franchise fee for each team in European league

Anyone wondering why NBA owners seem to be pushing harder for starting an NBA league in Europe than expanding domestically, we have some answers for you.

But it's all about the money.

Commissioner Adam Silver has been in Europe this past week, talking up the NBA's vision and selling it to potential stakeholders in the new venture, including Real Madrid, reports Joe Varden of The Athletic. Part of what Silver and the league are pitching is a $500 million per team franchise fee to buy in, reports the Sports Business Journal.

The NBA is pursuing franchise fees of more than $500M from teams looking to join the prospective NBA Europe, with multiple sources maintaining the league's preferred number is somewhere between half a billion and $1B….

Franchise valuations are also said to be part of ancillary discussions with banks and private equity conglomerates, as part of an effort to settle on a dollar figure. An official from one EuroLeague franchise had earlier scoffed at a proposed $500M figure, and considering the template for NBA Europe includes existing EuroLeague clubs it seemed unclear whether teams will be priced out of joining.

See why NBA owners like this idea? They could secure a share of these massive franchise fees — at least 10 teams at half a billion each is $5 billion at minimum, about what the expansion fee would be for a team in Seattle or Las Vegas — without having to give up any of their new national television revenue or equity in the league.

What the NBA envisions is a few current big-name European teams — "A" license-holding, stakeholding teams from the existing EuroLeague — jumping ship to the new NBA league, with Real Madrid seen as the most willing team to make a move (Tony Parker-owned ASVEL Basket also is one to watch). Then the NBA could tap into sovereign wealth funds and private equity — groups limited in how much of a stateside NBA team they can own — to put together expansion teams or prop up smaller existing teams, something Varden details at The Athletic.

The United Kingdom is home to soccer's mighty Premier League and is also another place where the NBA could attract big soccer dollars from Middle Eastern sovereign funds. The British Basketball League's reigning champion, London Lions, is owned by tech giant Tesonet…

Additionally, Silver and his associates met in London this week with representatives from four private equity firms (CVC, RedBird, Bridgepoint and KKR), as well as officials from the Turkish basketball and soccer club Galatasaray.

The NBA believes there is money left on the table in Europe, in areas such as broadcast rights and getting new, larger arenas built. What the NBA touts is its brand name and its business acumen — the ability to squeeze every dollar out of the business of basketball. What Real Madrid and teams such as FC Barcelona or Fenerbahçe Istanbul bring is history and a built-in fan base for the league.

We're still a few years away from an NBA league in Europe, but it has become a growing focus for the league. From an existing NBA owner's perspective, it's easy to see why this is attractive. We'll see if the European clubs (and fan bases) feel the same way.

https://sports.yahoo.com/article/nba-reportedly-seeking-500-million-120200612.html

Illegal migrant with history of child abuse and domestic violence tried to ram ICE agents in Colorado

An illegal immigrant from Mexico accused of attempting to run over federal agents in Colorado was previously deported six times and has prior convictions for child abuse and domestic violence.

Jose Mendez-Chavez, 31, was the driver of a vehicle used to attack U.S. Immigration and Customs Enforcement (ICE) agents as they were conducting an operation in Colorado Springs. He remains on the loose. Francisco Zapata-Pacheco, a passenger in the car, was arrested Thursday.

"As a result of their violent actions and to protect the officers and agents onsite, an officer fired three shots into the vehicle. The aliens fled and later abandoned the vehicle," an ICE spokesperson said.

No one was injured, ICE said.

The agency also criticized the Colorado Rapid Response Network (CRRN), an anti-ICE group that responds to immigration raids to disrupt the operations.

"It is despicable that Colorado Rapid Response network would show up in defense of an alien who has abused children and attempted to injure our officers," the ICE spokesperson said. "Our brave ICE law enforcement officers are facing an 830% increase in assaults against them as they carry out operations due to the misinformation activist groups spread."

"Mendez was not an ‘innocent victim’ he is an abuser who plays the system and is now wanted for assault on a federal officer," the statement continued.

Fox News Digital has reached out to the CRRN. Mendez-Chavez also has convictions for multiple illegal re-entries into the United States, ICE said.

"He knows he’s not supposed to be here, since we’ve removed him six times previously," an agency spokesperson said.

Mendez-Chavez was most recently convicted in August 2020 of reckless endangerment in Texas and sentenced to a year in prison. In January 2020, he was arrested in Colorado for child abuse.

In July 2013, he was convicted in Ohio of domestic violence and sentenced to 180 days in jail.

https://www.foxnews.com/us/illegal-migrant-history-child-abuse-domestic-violence-ram-ice-agents-colorado

Attorney: Fourth suspect in downtown Cincinnati brawl has schizophrenia, was 'scared'

One of the four individuals arrested in connection with the downtown Cincinnati brawl, Dominique Kittle, was revealed during his arraignment to have paranoid schizophrenia. His attorney, Caleb Baum, argued that Kittle was “scared” and “impressionable” during the incident, suggesting his mental health condition played a role in his actions that night. Baum urged the court to consider the broader context, including Kittle’s vulnerability and the chaotic environment, but was interrupted by the judge, who accused him of grandstanding.

Kittle faces charges of felonious assault and aggravated riot and is being held on a $150,000 bond. His case is scheduled to go before a grand jury on August 8. The revelation adds a layer of complexity to the case, which has already drawn significant public attention due to its violent nature and the racial tensions surrounding the incident.

https://www.cincinnati.com/story/news/crime/2025/08/02/cincinnati-fight-police-arrest-four-with-more-expected-what-to-know/85488318007/

Fourth Cincinnati brawl suspect arrested

https://www.youtube.com/watch?v=_XkvQPZBRYQ

India vs USA on pharmaceutical prices and ease of access.

Ah, this is why our side didn't see a Tsunami. The media was just covering up for the wrong way the Earth actually is. Prove me wrong.

Russia's largest truck manufacturer, Kamaz, cuts working week due to market collapse

Russia's largest truck manufacturer, Kamaz, will reduce its working week to four days starting Aug. 1 due to a dramatic collapse in the domestic heavy vehicle market, the company announced on July 25.

Kamaz cited a nearly 60% year-on-year drop in demand for commercial trucks with payloads over 14 tons as the key reason behind the move.

The crisis has led to a 28-fold decline in the company's net profit for 2024, and Kamaz shareholders will receive no dividends this year.

In a statement on Telegram, the company blamed the downturn on foreign suppliers who allegedly flooded the Russian market with excess inventory, overshooting demand projections.

More than 30,000 imported trucks now sit unsold in warehouses, the company said.

Kamaz noted that a second factor was Russia's Central Bank's tight monetary policy, which has kept interest rates high and credit access limited. As a result, more than 10,000 nearly new trucks have been returned to leasing firms and are being resold below market value.

"The lack of market growth prospects and the pressure of importers' machinery residuals force us to show responsibility and take unpopular but necessary measures to reduce production," Kamaz said, calling the shortened work week a response to "systemic distress."

Russia's Central Bank cut its key interest rate to 18% on July 25, following a previous reduction from 21% to 20% in early June. The bank claimed that inflation and overheating pressures in the economy are declining faster than anticipated.

"Monetary conditions remain tight but have eased compared to June," Russia's Central Bank Governor Elvira Nabiullina said. "Inflation is falling, credit is growing at a subdued pace."

Kamaz is the second major Russian automaker this month to adopt a shortened work schedule.

On July 22, Avtovaz announced it would transition to a four-day week, also citing high borrowing costs and rising competition from foreign imports.

https://finance.yahoo.com/news/latest-sign-russian-economy-woes-121926066.html

>>23418843

>>23418866

Why would all the water go to the south?

>>23418878

Was a figure of speech.