Free Republic

The world is getting more uptight about lending money to President Donald Trump’s government — causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November’s midterm elections. The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. Interest rates on a 10-year U.S. Treasury note are topping 4.44%, up from 3.95% before the war started at the end of February. Average mortgage rates have climbed to their highest levels in nine months, while auto...

President Trump likes his military and diplomatic victories quick, clean and decisive. (snip) But now, Mr. Trump has hit the stalemate phase of his presidency. The war with Iran is clearly at that stage. When he declared a cease-fire on April 7, Mr. Trump said on social media that the end of combat operations would be conditional on “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.” It wasn’t. Even if commerce now resumes across the strait under a memorandum of understanding still under negotiation, it will still leave the future of Iran’s nuclear and missile programs exactly...

The Trump administration has quietly instructed federal prosecutors in Miami to avoid pursuing criminal investigations into Venezuela’s acting President Delcy Rodríguez, a longtime target of the U.S. Drug Enforcement Administration, according to current and former U.S. law enforcement officials, in the latest sign of warming relations between the White House and the oil-rich nation. It’s unclear whether prosecutors had implicated Rodríguez in any crimes or whether investigators were moving toward an indictment. A Justice Department spokesperson said in an email “there was never an investigation into her to shut down.” But DEA records obtained by The Associated Press earlier this...

The negotiations between the United States and Iran to end their war are following President Trump’s familiar playbook for resolving a Middle East crisis: agree to a cease-fire and deal with the toughest problems later. Analysts say the approach has had mixed results in the Gaza Strip, where Mr. Trump brokered a truce last year between Israel and Hamas, the Iranian-backed militant group. Plans for a so-called Phase 2 agreement — under which Hamas was to lay down its arms and Israel would allow Gaza to be rebuilt after a devastating war — have stalled. A similar approach in U.S....

The social media post by President Trump made it sound straightforward. The United States would orchestrate a deal to end the war with Iran and, in exchange, a slew of countries across the Middle East and South Asia would join an agreement, called the Abraham Accords, establishing relations with Israel. In fact, he said, that “should be mandatory.” But half of the countries he named — such as Egypt, Jordan and Turkey — already have relations with Israel. And the other half — including Saudi Arabia, Qatar and Pakistan — have no interest in establishing them anytime soon. As a...

Ukrainian President Volodymyr Zelenskyy praised his "productive meeting" with U.S. President Donald Trump on the sidelines of the United Nations General Assembly on Tuesday, after which Trump appeared to jettison his long-held skepticism of Kyiv's battlefield ambitions. Shortly after the meeting, Trump wrote on social media, "After getting to know and fully understand the Ukraine/Russia Military and Economic situation and, after seeing the Economic trouble it is causing Russia, I think Ukraine, with the support of the European Union, is in a position to fight and WIN all of Ukraine back in its original form." (snip) But on Tuesday, the...

Trump administration officials fired more than 300 staffers Thursday night at the National Nuclear Security Administration — the agency tasked with managing the nation’s nuclear stockpile — as part of broader Energy Department layoffs, according to four people with knowledge of the matter. Sources told CNN the officials did not seem to know this agency oversees America’s nuclear weapons. An Energy Department spokesperson disputed the number of personnel affected, telling CNN that “less than 50 people” were “dismissed” from NNSA, and that the dismissed staffers “held primarily administrative and clerical roles.” The agency began rescinding the terminations Friday morning. Some...

Russia is facing a critical challenge to its war effort in 2025: The nation is quickly running out of cash, with financial reserves potentially running out before the end of the year, according to estimates from one European economist. Anders Åslund, a Swedish economist and a former fellow at the Atlantic Council, thinks liquid reserves in Russia's National Wealth Fund could potentially be depleted by the fall of this year. That spells trouble for the nation's military efforts in 2025, he said, given how heavily Russia has relied on its wealth fund over the last several years. Liquid reserves in...