Good Tuesday evening. In this edition: Trump indefinitely extends Iran ceasefire; Warsh pledges Fed independence; and Cherfilus-McCormick resigns amid expulsion threat.
Plus, reconciliation, Patel and Virginia redistricting.
Iran War
President Trump said he was indefinitely extending the ceasefire between the U.S. and Iran, hours before it was set to expire, citing Iran's "seriously fractured" government amid a standoff over further in-person talks.
"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," he wrote on Truth Social.
"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."
Vice President JD Vance was set to depart for a second round of talks with Iranian officials in Islamabad on Tuesday, but Tehran refused to commit to attending and instead warned it was prepared "to unveil new cards on the battlefield."
"We do not accept negotiations under the shadow of threats, and in the past two weeks, we have prepared to reveal new cards on the battlefield."
The extension comes amid apparent internal disputes within the Iranian government over how to proceed with negotiations.
Iran's civilian leaders favor continuing talks to extend the ceasefire, while the powerful Islamic Revolutionary Guard Corps (IRGC) oppose negotiations as long as the U.S. naval blockade remains in place.
Earlier Tuesday, President Trump told CNBC he did not want to extend the ceasefire and that he was optimistic about reaching a deal, but warned that the U.S. military was "raring to go" if talks broke down.
"Well, I expect to be bombing because I think that's a better attitude to go in with," he told the network. "But we're ready to go. I mean, the military is raring to go. They are absolutely incredible."
The president said he was leaving the U.S. naval blockade in place during the ceasefire extension, which Iran has likened to "piracy."
The U.S. military disabled and seized an Iranian cargo ship on Sunday and seized another vessel in the Indian Ocean on Tuesday that it accused of carrying sanctioned Iranian oil.
Kevin Warsh vowed to uphold the Federal Reserve's independence as he testified at his confirmation hearing to succeed Jerome Powell as chair of the central bank.
"Monetary policy independence is essential. Monetary policymakers must act in the nation's interest, their decisions the product of rigor, deliberation and unclouded decision-making," he told the Senate Banking Committee.
"I do not believe that independence of monetary policy is threatened when elected officials state their views on rates. Fed independence is up to the Fed."
Throughout the hearing, Republicans praised the credentials of Mr. Warsh, an Ivy League-educated lawyer who served as a Fed governor from 2006 to 2011, while Democrats criticized his complex personal finances and ties to the Trump administration.
Members of both parties, however, repeatedly emphasized the need for the central bank to remain free from political pressure.
President Trump has repeatedly sought to pressure the central bank to lower rates, and the Justice Department has opened criminal probes into Fed Governor Lisa Cook and Chair Powell, which critics say are intended to intimidate policymakers and bend them to the president's will.
"I'm committed to ensuring that the conduct of monetary policy remains strictly independent," Mr. Warsh said. "And I commit myself to accountability."
Sen. Elizabeth Warren (D-MA), the panel's ranking member, called Mr. Warsh "uniquely ill-suited" to lead the central bank as she recounted the president's attempts to influence monetary policy.
"Why try to end the independence of the Fed? Because Trump's economy failures are causing him political problems and he wants the Fed to use monetary policies to artificially juice the economy in the short term — and this is his last chance to do that before the November elections," she said.
The Massachusetts Democrat also highlighted Mr. Warsh's reversals on interest rates over the years, going from a "hawk" favoring higher rates during the Obama and Biden administrations to a "dove" seeking lower rates when President Trump is in office.
"Evidently, he learned his lesson. This time around, he sucked up to Donald Trump to snag his dream job," she said, calling him a "sock puppet" for the president.
Sen. Tim Scott (R-SC), the panel's chair, praised Mr. Warsh as experienced and "battle-tested."
"Kevin Warsh is battle-tested and brings the necessary experience from his time as a Federal Reserve governor during the Great Recession," he said. "He has seen the economy in its darkest days and understands how economic decisions affect job growth, our economy and the opportunities that we have come to love as Americans."
Sen. Scott also emphasized the importance of the central bank's independence and the need for Fed members to steer clear of the "political winds."
"An independent Federal Reserve is essential to achieving its mission," he said. "Markets depend on it, families depend on it, and that independence must be protected. The American people expect the Federal Reserve to stay focused on the economy, not politics."
Sen. Thom Tillis (R-NC), who is retiring in January, reiterated his vow not to support any central bank nominee until the Justice Department drops its probe into Chair Powell.
"You have extraordinary credentials. They're impeccable," he told Mr. Warsh. "Let's get rid of this investigation so I can support your confirmation."
Senate Majority Leader John Thune (R-SD) also called on the DOJ to end its investigation to speed up Mr. Warsh's confirmation.
"I think the sooner the administration can wrap up this investigation and get ready to move forward with a new chairman, the better off everybody will be," he told reporters.
Rep. Sheila Cherfilus-McCormick (D-FL) resigned amid corruption allegations that were likely to lead to her imminent ouster from Congress.
The House Ethics Committee late last month found her guilty of numerous violations of House rules, including funneling $5 million in COVID relief funds to her congressional campaign.
Her resignation announcement came shortly before the panel was set to meet again to recommend a punishment, which many expected to be expulsion.
"This was not a fair process,"the congresswoman said in a statement, arguing that her pending criminal indictment had prevented her from defending herself.
"I cannot stand by and pretend that this has been anything other than a witch hunt. I simply cannot stand by and allow my due process rights to be trampled on, and my good name to be tarnished."
Many House Democrats were expected to vote for expulsion, which would have made her just the seventh member in history to be ousted from the chamber by a vote of their colleagues.
"Rather than play these political games, I choose to step away so that I can devote my time to fighting for my neighbors in Florida's 20th district," she wrote. "I hereby resign from the 119th Congress, effective immediately."
Her resignation is the third by a lawmaker this month, following Eric Swalwell (D-CA) and Tony Gonzales (R-TX), both of whom resigned amid sexual misconduct allegations.
The House now has 431 total voting members: 217 Republicans, 212 Democrats and one independent who caucuses with Republicans. There are four vacancies.
The Senatevoted52–46, along party lines, to begin debate on a Republican budget resolution that would set the stage for a future reconciliation bill to fund Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP) with a party-line vote. The Homeland Security Department has been shut down for more than 66 days amid a standoff over immigration enforcement reforms. After failing to reach a deal with Democrats, Republicans opted for a two-track plan to reopen the department: provide ICE and CBP with three years of funding through a filibuster-proof reconciliation bill, and fund the rest of the department through a standard appropriations bill. The House is delaying action on the Senate-approved measure to fund the remainder of DHS until the Senate makes progress on the reconciliation bill. Up to 50 hours of debate will now begin on the Senate reconciliation bill followed by a vote-a-rama.
FBI Director Kash Patelcombatively denied reporting from The Atlantic that he frequently drinks to excess and has had "unexplained absences" from the bureau. "I've never been intoxicated on the job," he told reporters. "And that is why we filed a $250 million defamation lawsuit. And anyone of you that wants to participate, bring it on. I'll see you in court." He also disputed claims that he was ever locked out of his computer systems, which the magazine said led him to believe he had been fired. "I was never locked out of my systems," Mr. Patel said. "Anyone that says the opposite is lying."
Virginia votersare deciding whether to ratify a mid-decade redistricting plan that could boost Democrats' chances of winning back control of the House in the November midterms. If approved, the plan could flip as many as four GOP-held seats to Democrats. It is part of a broader nationwide effort by both parties to redraw maps for political advantage. The proposed constitutional amendment would bypass the state's bipartisan redistricting commission in favor of a new map approved by state lawmakers. It requires a simple majority to pass.
For your radar…
Treasury Secretary Scott Bessent testifies Wednesday before the Senate Appropriations Committee on President Trump's 2027 budget request. Watch LIVE on C-SPAN3 at 10am ET.
NASA Administrator Jared Isaacman testifies Wednesday before the House Science, Space and Technology Committee on the space agency's 2027 budget request. Watch LIVE online at 10am ET.
