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Republicans suffered setbacks to court challenges over the presidential election in three battleground states on Friday as a national law firm that came under fire for its work for President Trump’s campaign withdrew from a major Pennsylvania case. The legal blows began when a federal appeals court rejected an effort to block about 9,300 mail ballots that arrived after Election Day in Pennsylvania. The judges noted the “unprecedented challenges” facing the nation during the COVID-19 pandemic. Meanwhile, a Michigan judge found no evidence of fraud in refusing to stop the certification of Detroit-area election results. And in Arizona, a judge dismissed a Trump campaign’s lawsuit seeking the inspection of ballots in metro Phoenix.President-elect Joe Biden is projected win at least 290 Electoral College votes, and could add to his lead depending on a hand recount in Georgia. Biden is leading Georgia by more than 12,000 votes. 944

Puerto Rico’s elections commission says it has discovered more than 100 briefcases containing uncounted ballots a week after the U.S. territory held its general election, drawing criticism and scorn from voters who now question the validity of the outcomes of certain races. Francisco Rosado, the commission’s new president, said Tuesday that the briefcases were found in a secured vault and blamed the situation on what he said was an underfunded and understaffed administrative board responsible for counting a record number of absentee and early votes. 563

President Trump nominated Federal Reserve Governor Jerome Powell on Thursday to lead the world's most influential central bank.A Fed governor since 2012 and former Treasury official under the George H.W. Bush administration, Powell will replace current Fed Chair Janet Yellen. Yellen was nominated in 2013 by President Obama. Her term as the central bank's first female leader expires in February.It will be the first time in four decades that a new president hasn't asked the current Fed chair to stay on for a second term.Powell was among five candidates considered for the job. Also on the president's short list: former Fed governor Kevin Warsh, Stanford University economist John Taylor, the president's top economic adviser, Gary Cohn and Yellen.Ahead of Trump's formal announcement Thursday, Cohn praised the president's choice. "I'm really supportive of the president's decision -- and it's a great decision," he said speaking before The Economic Club of Washington.Related: Fed leaves interest rates alone and waits for TrumpThe position of Fed chair requires Senate confirmation. Republicans currently hold the majority and would be able to confirm Powell without any Democratic support, if necessary.At 64, Powell has been Yellen's ally on monetary policy, while also calling for easing some of the regulations on banks put in place after the 2008 financial crisis.Unlike almost all of his predecessors in the position, Powell is not an economist by training. Instead, he was a lawyer and former partner at private-equity firm, Carlyle Group.Two immediate challenges face Powell once he is confirmed in the role: How quickly to raise interest rates and how to continue to safely unwind the Fed's hefty balance sheet.It's the job of central bankers to shift policy levers, nudging interest rates higher or lower, to boost jobs and keep prices, or inflation, at the optimal level.What's made their job trickier is that inflation is signaling the Fed should not increase rates. But economic growth and a low unemployment rate of 4.2% are saying it should.Related: Powell would be the first investment banker to chair the Fed Powell has been supportive of Yellen's plan to gradually raise interest rates, if there are continued signs of improvement in the economy."The economy is as close to our assigned goals as it has been for many years," said Powell in a June speech at the Economic Club of New York. "Risks to the forecast now seem more balanced than they have been for a some time."Powell will also have to oversee how the central bank continues to shed some of the .5 trillion in investments it made in order to prop up the economy after the financial crisis. The Fed began the process of unwinding almost a decade's worth of stimulus investments in September.For years, the central bank piled up purchases of Treasury and mortgage-backed securities, a strategy intended to stimulate the economy by reducing borrowing costs for everyone. At the time, it also reduced its benchmark interest rate to zero, and only began raising it in December 2015, seven years after the crisis.Related: Fed taps Jerome Powell to head oversight of 'too big to fail' banksPowell voted in favor of winding down the Fed's balance sheet. And like Yellen, he's left the door open for a new round of asset purchases in the event of another crisis.In April, the Fed tapped Powell to serve as the new point man overseeing how Wall Street banks are regulated after Daniel Tarullo, the central bank's regulatory czar stepped down. Tarullo held the position for the past eight years.In this role, the Fed governor has sided with the Trump administration on easing some of the regulatory burdens on banks. He's specifically suggested relaxing the so-called Volcker Rule, which bars banks from taking risky bets with taxpayer money.The-CNN-Wire 3838

President Donald Trump sought to buy all the dirt on him collected by the tabloid National Enquirer and its parent company American Media Inc., according to a new report.Trump and his former personal attorney Michael Cohen devised a plan to purchase potentially damaging stories about Trump from AMI, The New York Times reported Thursday, citing several of Trump's associates.The plan was never finalized, according to the Times. Lawyers for Trump and Cohen declined to comment to the newspaper, as did AMI.The information gathered on Trump dating back to the 1980s includes older stories and notes about Trump's marital woes, lawsuits and tips about alleged affairs, among other things, according to the Times.Last week, Jerry George, the former Los Angeles Bureau Chief for the National Enquirer, told CNN's Erica Hill on "Erin Burnett OutFront" that American Media head David Pecker kept a safe in which he held "particularly sensitive story files," including source agreements and contracts. The Associated Press first reported on the safe. 1052

President Donald Trump's niece offers a devastating portrayal of her uncle in a new book. Mary Trump writes that a “perfect storm of catastrophes” have exposed the president at his worst. Early copies of the book, “Too Much and Never Enough: How My Family Created the World’s Most Dangerous Man," slated for publication next week, became available on Tuesday.She writes that the coronavirus pandemic, the possibility of an economic depression and deepening social divides have brought out the “worst effects" of Trump's "pathologies." Multiple media outlets, including CNN and the New York Times, are reporting on details from the book, including that Mary Trump alleges President Trump paid to have someone take the SAT for him. She says the combination of emergencies are problems that “no one is less equipped than my uncle to manage." Mary Trump is the daughter of Trump's eldest brother Fred Trump Jr., who died in 1981. Trump's other brother Robert, filed injunctions to stop the publication of the book. Robert Trump's lawyers argued Mary Trump had agreed not to publish such a book without permission from the family. Last week, a New York court ruled the book could be released. 1196

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