Federal Reserve Chair Kevin Warsh is testifying before the House Financial Services Committee about the U.S. economy and inflation. The Federal Reserve officials have different views on whether inflation will stay high or go down after the conflict in Iran ends.
Key Facts
Kevin Warsh is the new Chair of the Federal Reserve.
He is testifying on July 14 before the House Financial Services Committee.
The Federal Reserve reports on the economy and sets monetary policy to influence things like inflation and interest rates.
Inflation has caused higher prices for groceries and gas, affecting families and businesses.
Recent Federal Reserve meeting minutes show a split among officials on future inflation trends.
Some officials expect the key interest rate to stay around 3.6% or slightly lower by the end of the year.
Others think the rate might rise by the end of the year.
The Federal Reserve aims to keep politics separate from its decisions and is focused on controlling inflation.
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President Donald Trump is increasing military pressure on Iran. Some people doubt that new military actions will solve the core issues between the U.S. and Iran.
Key Facts
President Trump is intensifying hostilities with Iran.
Critics are unsure if military action will change the conflict’s main problems.
The conflict with Iran is not popular among many Americans.
The situation may draw the U.S. into a deeper involvement without clear outcomes.
The ongoing tensions happen as time is running out on the current political period.
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Senator Lindsey Graham passed away suddenly over the weekend. Major Garrett, host of "The Takeout," shared a review of Graham’s life and career, highlighting his journey from humble beginnings to his role in Washington, D.C.
Key Facts
Senator Lindsey Graham died unexpectedly over the weekend.
He began his life in a mobile home.
Graham had a long career as a U.S. Senator.
He was known for his work in Washington, D.C.
Major Garrett discussed Graham’s life and legacy on CBS News.
The report was featured on CBS News and the CBS News app.
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Lindsey Graham’s sister, Darline Graham Nordone, has been named to temporarily fill his Senate seat. This appointment comes after Senator Lindsey Graham passed away unexpectedly, and a special election will be held soon to choose a permanent replacement.
Key Facts
Senator Lindsey Graham died suddenly over the weekend.
Darline Graham Nordone, his sister, was appointed as the interim senator.
She will serve temporarily until a special election is held.
The special election will determine who will hold the Senate seat long term.
The appointment and election are happening in the state Lindsey Graham represented.
This change is part of the process to keep the Senate seat occupied without gaps.
The news was reported by CBS News and Nikole Killion.
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President Donald Trump hosted leading IndyCar drivers at the White House to promote the upcoming Freedom 250 Grand Prix street race in Washington, D.C. The race will occur next month on a 1.7-mile track around the National Mall and is part of the nation’s 250th anniversary celebrations.
Key Facts
The Freedom 250 Grand Prix is scheduled for August 22 and 23, 2026.
The race will take place on streets around the National Mall, passing landmarks like the National Archives and the Smithsonian’s National Air and Space Museum.
The event is the first-ever IndyCar race in Washington, D.C.
President Trump called the race "like no other" and expects it to draw high TV ratings.
Three top drivers, Alex Palou, Felix Rosenqvist, and David Malukas, were present at the White House; Palou and Rosenqvist won the Indianapolis 500 in 2025 and 2026.
The race is organized by the Freedom 250 group, which has partners including Monumental Sports & Entertainment and IndyCar promotions.
President Trump said the race will be free to viewers and is part of celebrating 250 years of American independence.
Officials like Transportation Secretary Sean Duffy and representatives from Penske Corporation and General Motors also attended the event.
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Mark Lynch, who recently lost to Senator Lindsey Graham in the Republican primary in South Carolina, announced he will run again to replace Graham on the ballot after the senator passed away. Lynch made the announcement on the social media platform X.
Key Facts
Senator Lindsey Graham, a longtime Republican lawmaker from South Carolina, died on Saturday.
Mark Lynch was a candidate in the GOP Senate primary against Graham last month.
Lynch announced he will seek the nomination to replace Graham on the ballot.
He made his announcement through a post on the platform X.
The race is for a special primary to fill the Senate seat.
This development affects the 2024 U.S. Senate election in South Carolina.
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A second American working in the Democratic Republic of Congo (DRC) has tested positive for Ebola and was sent to Germany for treatment. The US government, under President Trump, has limited its involvement in managing the outbreak and has not repatriated Ebola-infected citizens, despite having the capacity to do so.
Key Facts
The Ebola outbreak in the DRC started on May 15 and is the third largest recorded, with 1,926 cases and 702 deaths as of July 12.
The outbreak is caused by the Bundibugyo strain of the Ebola virus.
Two Americans have been infected during aid work in the DRC; both were sent to hospitals in Germany for treatment.
The most recent infected American worked as a warehouse manager for Samaritan’s Purse and was not in direct contact with Ebola patients.
The first infected American, Dr. Peter Stafford, was directly treating patients and was evacuated to Berlin after a delay caused by the Trump administration blocking his return to the US initially.
The US has multiple facilities ready to treat Ebola but has kept patients abroad and limited involvement in outbreak response.
President Trump’s administration moved to withdraw from the World Health Organization, an agency coordinating international efforts against Ebola.
WHO leaders emphasize the need for more help and faster action to control the outbreak.
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House Republicans have proposed a bill to officially move millions of federal student loan accounts from the Department of Education to the Treasury Department. This change would start with loans that are in default and could eventually include all federal student loans, affecting over 40 million Americans.
Key Facts
The bill would make permanent the Trump administration’s plan to reduce the Education Department’s role in managing student loans.
The transfer would happen in stages, beginning with loans that are already in default.
Treasury would take over collecting defaulted student loans and later manage non-defaulted loans too.
More than 40 million Americans hold federal student loans, totaling about $1.7 trillion.
Borrowers are not expected to see immediate payment changes and would initially keep working with their current loan servicers.
Treasury officials believe their department is better equipped to manage the loans and improve collections.
Some people worry that moving loan management to Treasury could cause confusion or new challenges for borrowers.
House Education and Workforce Committee Chairman Tim Walberg said the change is meant to reduce bureaucracy and improve service.
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President Trump signed orders to reduce the size of two national monuments in Utah: Bears Ears and Grand Staircase-Escalante. These changes give more land back to the state of Utah than previous adjustments.
Key Facts
President Trump signed executive orders on Monday.
The orders shrink Bears Ears and Grand Staircase-Escalante national monuments.
Both monuments are located in Utah.
The size of these monuments has changed multiple times in the past.
This latest reduction returns more land to Utah than before.
The signing took place in the Oval Office.
President Trump said the land would be given back to the people of Utah.
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A US judge canceled a settlement between President Donald Trump and the IRS that stopped tax audits on Trump and his businesses. The judge said the lawsuit was filed for a wrong reason because Trump, as president, controls the IRS and its parent Treasury Department.
Key Facts
President Donald Trump and his family sued the IRS for $10 billion after leaked tax returns were published.
The settlement gave Trump, his family, and businesses broad protections from IRS audits.
The settlement also created a $1.8 billion taxpayer-funded program to compensate people claiming they were unfairly investigated, but this was later dropped.
District Judge Kathleen Williams said the case had no real legal basis because Trump controls the IRS as president.
The judge called the lawsuit an "improper purpose" to get a court's approval for a settlement without legal grounds.
She accused government officials of failing to defend the public interest and violating their authority.
The judge referred one of Trump’s lawyers for legal discipline and limited another lawyer’s court appearances in her court for one year.
Trump’s team said the president will keep holding people accountable, but there was no direct response to the ruling from Trump or the Justice Department.
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Senator John Thune gave an emotional speech in the Senate to honor Senator Lindsey Graham, who passed away suddenly over the weekend. Thune spoke about Graham’s life and contributions while standing on the Senate floor.
Key Facts
Senator Lindsey Graham died unexpectedly over the weekend.
Senator John Thune delivered a speech in the Senate to remember Graham.
The speech was emotional and took place on the Senate floor.
The tribute was shown in a video by CBS News.
Lindsey Graham was a sitting U.S. Senator at the time of his death.
The event occurred recently, as the speech happened on Monday.
John Thune is the Senate Majority Leader.
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A federal appeals court has allowed hundreds of lawsuits to continue that claim a connection between acetaminophen use during pregnancy and neurodevelopmental disorders like ADHD and autism. The court said the lower court was wrong to reject expert scientific testimony supporting this link.
Key Facts
The 2nd U.S. Circuit Court of Appeals revived hundreds of lawsuits related to acetaminophen.
Plaintiffs claim acetaminophen use during pregnancy can cause ADHD and autism in children.
The appeals court ruled that scientific expert testimony should not have been excluded.
The lower court had dismissed the cases because it rejected the expert evidence.
Acetaminophen is a common painkiller often used during pregnancy.
The lawsuits focus on possible neurodevelopmental effects in children after prenatal exposure.
The court’s decision means these cases can now move forward to be heard in court.
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Senator Lindsey Graham died at age 71 from a tear in the wall of his aorta, a condition called aortic dissection. This type of aortic disease usually happens suddenly, often related to high blood pressure and artery hardening linked to aging.
Key Facts
Lindsey Graham died on July 11th at the age of 71.
The preliminary cause of death was an aortic dissection, a tear in the aorta wall.
The aorta is the largest artery, carrying blood from the heart through the chest and abdomen.
Aortic problems include aneurysm (a bulge), dissection (a tear), and rupture (a burst).
Dissection can happen suddenly without warning, often causing severe chest or back pain.
Graham’s condition was due to arteriosclerotic cardiovascular disease, common in older adults.
Screening exists mainly for certain men aged 65-75 who have smoked, detecting abdominal aneurysms.
In contrast, inherited aortic disease can affect younger people and often goes unnoticed until it becomes fatal.
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The U.S. military carried out new air strikes against Iran following President Trump’s decision to bring back a naval blockade in a key shipping route called the Strait of Hormuz. This was the third day in a row that the U.S. attacked Iran.
Key Facts
President Trump ordered the U.S. Navy to restart a naval blockade in the Strait of Hormuz.
The Strait of Hormuz is an important waterway for global oil shipments.
The military strikes began at 4:45 p.m. Eastern Daylight Time.
These strikes represent the third consecutive day of U.S. military action against Iran.
The naval blockade limits movement of ships to and from Iran.
President Trump made the decision to escalate military pressure on Iran.
The U.S. aims to control Iran’s ability to use the Strait of Hormuz.
The situation escalates tensions between the U.S. and Iran.
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Supreme Court Justices Elena Kagan and Amy Coney Barrett testified before a House committee about the Court’s budget request for 2027. The hearing took place on July 14 to discuss funding and related issues.
Key Facts
Justices Kagan and Barrett appeared before a House Appropriations subcommittee.
The topic was the Supreme Court’s budget for the year 2027.
The hearing started at 10 a.m. Eastern Daylight Time on July 14.
A live video of the hearing was available for the public.
The article mentions some Supreme Court decisions that affected President Donald Trump.
President Trump did not get favorable outcomes in cases about tariffs, birthright citizenship, and a Federal Reserve governor.
Despite some losses, President Trump gained more influence from the Supreme Court’s recent term.
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Graduation rates at schools run by the Bureau of Indian Education (BIE) have improved significantly, rising from just over 50% in 2015 to 79% in 2025. This improvement is partly due to better data tracking and local programs that focus on career training and technical education for Native American students.
Key Facts
The BIE oversees 183 schools serving over 40,000 Native American students.
In 2015, about half of BIE high school students graduated within four years; by 2025, that rate reached 79%.
Previous data on graduation rates was flawed because students who transferred were sometimes counted as dropouts.
Since 2018, the BIE has standardized how it tracks and reports graduation data for more accuracy.
Many BIE schools are run by tribes and receive federal funding, not directly by the agency.
Chief Leschi Schools shifted to career and technical training starting in 2020, which helped keep students engaged.
Hands-on job training programs in health sciences, education, and fisheries management have motivated students to stay in school.
The Trump administration states it supports these education improvements, including better teacher training for Native American students.
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South Carolina Governor Henry McMaster announced that Darline Graham Nordone will take over the Senate seat left empty by her brother, Senator Lindsey Graham, after his sudden death. She will serve as the new senator representing South Carolina.
Key Facts
Lindsey Graham, a U.S. Senator from South Carolina, passed away suddenly over the weekend.
Governor Henry McMaster of South Carolina named Darline Graham Nordone, Lindsey Graham’s sister, as the replacement.
Darline Graham Nordone will fill the vacant Senate seat in the U.S. Senate.
The announcement was made on Monday by Gov. McMaster.
CBS News provided coverage and analysis of the appointment.
The appointment is temporary until a formal election or further decision is made (implied by usual procedure).
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Maine’s two senators want an independent investigation into the death of a Colombian man who was shot by immigration officers. The Department of Homeland Security says the man used his vehicle as a weapon, but the senators want a clear and unbiased review of the incident.
Key Facts
The shooting involved immigration authorities and a Colombian man.
The man died after being shot by these officers.
DHS claims the man used his vehicle as a weapon.
Maine Senators, including Angus King, are asking for an independent investigation.
Senator King talked with Homeland Security Secretary Markwayne Mullin about the case.
The senators want an investigation separate from the agencies involved.
The focus is on ensuring the facts about the shooting are fully and fairly examined.
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The Department of Health and Human Services (HHS) watchdog reported it expects to recover $5.56 billion and save money over six months. The watchdog also barred more than 1,200 people and companies from federal programs during that time.
Key Facts
The HHS watchdog expects $5.56 billion in recoveries and savings over six months.
The report was issued on a Monday and sent to Congress.
More than 1,200 individuals and companies were barred from federal programs.
The Office of Inspector General oversees this work.
These actions help prevent fraud and recover funds for the government.
The recoveries and savings come from investigating improper spending and fraud.
The report covers a semiannual (six-month) period.
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