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President Donald Trump visited Arlington National Cemetery on Wednesday as part of a Veterans Day ceremony.Trump laid a wreath at the Tomb of the Unknown Soldier, in an act that has become a Veterans Day and Memorial Day tradition for presidents in the years since the remains of several unidentified U.S. soldiers who fought in World War I were interred at the cemetery in 1921.In the years since, remains of other unidentified soldiers from World War II and the Korean War have since been interred in the area. The remains of a U.S. soldier who fought in the Vietnam War were briefly interred in the tomb before scientists identified them as those of Air Force 1st Lt. Michael Joseph Blassie. Blassie's remains were removed from the tomb in 1998 upon his family's request.The Tomb has come to represent all U.S. soldiers who have been killed or remain missing in action.The wreath-laying ceremony was Trump's first on-camera public appearance since most media outlets projected Joe Biden as the winner of the 2020 presidential election.Prior to Wednesday, Trump's last on-camera public appearance came on Nov. 5 when he held a press conference at the White House to falsely claim victory in the 2020 presidential race citing baseless claims of widespread voter fraud. 1277

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

Rattled by a string of explosions, which has put the city on edge for the last two weeks, a possible new explosion was reported Tuesday evening near a Goodwill store, the Austin Police Department said on its Twitter account. But after an hour of investigating, the police department said the explosion stemmed from an an incendiary device. The department said the incident was likely not connected to a previous string of explosions. One male said to be in his 30s was transported to the hospital. Their condition is serious, but the injuries are not expected to be life threatening. Tuesday incident comes just hours after a package detonated at a FedEx package handling facility in Texas.The package's intended destination is unknown.  770

President Donald Trump's tariffs were supposed to shrink America's trade deficit, but it has instead grown for five straight months and is on track to hit a record high before the end of the year.The monthly goods deficit grew by billion in October, according to a US Census report released Wednesday.The Census report is one of the first measures of trade released since Trump imposed his biggest round of tariffs in September on 0 billion of Chinese goods. It put a 10% tax on goods ranging from luggage to bikes and baseball gloves. Trump has threatened to increase the rate to 25% on January 1.The duties make it more expensive for US importers to buy those items, but Americans bought more goods from abroad in October than they did the month before. The figure may reflect stockpiling by American importers ahead of an additional hike in tariffs set to take effect in January, as well as strong consumer spending."There is some anecdotal evidence that US importers are likely pulling forward orders to get ahead of additional tariffs on Chinese goods, which could be one of the factors driving imports higher in recent months," said Pooja Sriram, an economist at Barclays.Last year's federal tax cuts have also put more money back into Americans' pockets, lifting demand for imports even if they're more expensive."We believe that domestic demand is likely to be sufficiently robust so as to keep imports elevated even after any additional tariffs," Sriram said.Additional data due out next week on trade of both goods and services is expected to show a 10-year high in the overall trade deficit, said Ian Shepherdson, chief economist at Pantheon Macroeconomics.That's the opposite of what Trump wants to achieve.The president has pledged to reduce America's trade deficit by pursuing new trade agreements with countries he argues are engaging in unfair trade policies, especially China. He's put tariffs on 0 billion of Chinese-made goods this year in an effort to make US-made products more attractive to consumers."It's been such a terrible one-way street with China," Trump told the Wall Street Journal in an interview Monday.Trump and Chinese President Xi Jinping are set to meet Saturday evening for a formal dinner on the sidelines of the G20 meeting in Argentina. It is their only scheduled meeting before the end of the year.White House economic adviser Larry Kudlow on Tuesday dangled the possibility?of a "breakthrough" at the dinner. But Trump escalated tensions earlier in the week, when he repeated a threat to put tariffs on the remaining Chinese goods if a deal can't be reached.The Trump administration argues that China is engaging in unfair trade practices, including intellectual property theft and forced technology transfers. But the Chinese say Trump's unilateral tariffs are bullying.American businesses and lawmakers on both sides of the aisle agree that the China trade issues should be addressed — but not everyone believes that tariffs are the right way. Some manufacturers and retailers say the duties could lead to job losses and higher prices for consumers."It would be hard to argue that (China) has behaved fairly in its trade practices," said Florida Democratic Rep. Stephanie Murphy this week at an S&P Global event in New York."But I think doing it in a multilateral way would have been a better approach," she said.Trump has also imposed tariffs on foreign steel and aluminum this year, in the interest of national security. US steel producers have welcomed the taxes, as they've seen prices for their own products go up. Steel Dynamics, an American producer, announced this week that they would be building a new steel mill in the southwest region of the country, creating 600 new jobs."Steel jobs are coming back to America, just like I predicted," Trump tweeted Wednesday.But American manufacturers that use steel, including automakers, have argued that the tariffs have made the cost of domestic production more expensive. 4055

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

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