Federal

• The Federal Reserve's internal watchdog issued a warning on Thursday regarding the central bank's vulnerability to insider threats. • The report highlights that sensitive economic information is being actively targeted by foreign adversaries seeking an advantage. • This security gap is critical because the leak of non-public economic data could destabilize financial markets and undermine U.S. monetary policy.

• Senators Elizabeth Warren and Ron Wyden are urging the Treasury Department and IRS to stop implementing a presidential immunity order after a federal judge ruled the order illegal. • The move follows a separate December 2025 push by Senator Warren and Representative Chris Deluzio for the Trump administration to limit defense company stock buybacks. • These actions aim to ensure government agencies adhere to judicial rulings and prioritize research and development spending over corporate stock manipulation.

Roger Rogoff’s was selected by panel of judges for top prosecutor job after interim US attorney’s term endedUS politics live – latest updatesDonald Trump fired the new top federal prosecutor in Seattle on Wednesday less than an hour after the attorney was unanimously appointed by the federal judges in the district, highlighting tensions between the courts and the president over the powerful positions.Roger Rogoff, a former judge and veteran state and federal prosecutor, was sworn in as US attorney before 8am at the US courthouse in downtown Seattle. In a phone interview, he said he then went to the US attorney’s office and asked to meet with Charles Neil Floyd, whose 120-day interim term in the position ended in February. Continue reading...

• The Federal Reserve Board of Governors has established five new task forces dedicated to analyzing and improving the conduct of monetary policy. • Key focus areas include refining policy communications during uncertainty, evaluating the costs and benefits of the current balance sheet regime, and enhancing the timeliness of economic data. • These initiatives matter as they aim to strengthen the quality of real economic signals and institutional frameworks that inform critical policy judgments.

• Federal Reserve Chair Kevin Warsh testified at his first congressional hearing on Tuesday, advocating for a "sea change" in the central bank's economic strategy. • Warsh detailed plans to overhaul the Federal Reserve's current approach to managing inflation and broader economic stability. • This shift signals a potential departure from previous monetary policies, aiming to modernize how the Fed responds to evolving financial pressures.

• Federal Reserve Chairman Warsh appeared before the U.S. House Committee on Financial Services to deliver the semiannual Monetary Policy Report. • The testimony serves as a formal requirement under the Federal Reserve Act, ensuring transparency between the central bank and Congress. • This appearance allows the Federal Reserve to outline its current economic outlook and justify its strategic decisions regarding interest rates and monetary stability.

• A federal court dismissed a lawsuit filed against the IRS by plaintiffs associated with Donald Trump, ruling that the parties "acted in bad faith." • The judge described the legal action as a "sham lawsuit" designed to fleece taxpayers rather than address legitimate legal grievances. • The case centered on challenges to OMB rules regarding federal funding, which critics argued could destabilize nonprofits and allow political pressure over $1 trillion in annual funding.

Previously withheld material concerns fatal shootings of Renée Good and Alex Pretti during immigration crackdownPreviously withheld evidence regarding the fatal shootings of Renée Good and Alex Pretti is now in the hands of Minnesota prosecutors, helping the state gain clarity on the deaths that occurred earlier this year during protests against a federal immigration crackdown.“Through the cooperation of our federal partners, we have obtained hard drives of previously withheld evidence in the killings of Renée Good and Alex Pretti, and the shooting of Julio Sosa-Celis,” the Hennepin county attorney, Mary Moriarty, said in a video statement posted on social media. Continue reading...

• The Supreme Court issued a decision on June 29 in Trump v. Slaughter, which notably overruled the precedent set by Humphrey's Executor. • This ruling reshapes the level of presidential control over federal agencies, potentially making agency leadership more susceptible to removal. • The decision matters for employers as it suggests that federal agency guidance and enforcement priorities may become more volatile and subject to change.

• Barisan Nasional (BN) secured a two-thirds majority in the 16th Johor state election, winning 48 out of 56 available seats. • The remaining seats were won by Pakatan Harapan (PH), while the Prime Minister urged PH candidates to continue serving the public despite the result. • The victory is significant as the Prime Minister reaffirmed the federal government's commitment to strengthening Johor's development agenda and the well-being of its residents.

• Social activist Voon Shiak Ni stated on July 12 that the results of the Johor state election serve as a critical "wake-up call" for the Pakatan Harapan (PH)-led federal government. • Voon argues that the voting patterns in Johor demonstrate a clear lack of satisfaction among the electorate regarding the current direction of the federal administration. • The outcome is significant as it highlights a growing disconnect between the federal government's policies and the expectations of voters in key states.

• A bipartisan group of House lawmakers is urging federal agencies to coordinate efforts to protect election integrity against threats posed by artificial intelligence. • The lawmakers are specifically concerned about AI-driven misinformation, such as chatbots providing voters with inaccurate information during the election cycle. • AI companies have acknowledged the limitations of voluntary safeguards in addressing political bias and are focusing on neutrality-by-design and citation transparency.

• The Federal Reserve released the official minutes from the Federal Open Market Committee (FOMC) meeting conducted on June 16–17, 2026. • These documents provide a detailed record of the discussions and deliberations held by the central bank's policymakers regarding the U.S. monetary system. • The release is critical for investors and economists as it offers insight into the Fed's current stance on inflation, interest rates, and economic stability.

• Investors are awaiting the release of the US Federal Reserve's latest meeting minutes, marking the first such report under new chairman Kevin Warsh. • The minutes are expected to provide critical insights into the central bank's internal deliberations and its current stance on monetary policy. • Market participants are specifically searching for clues regarding the timing and likelihood of upcoming interest rate increases.

• Federal Reserve official Kevin Warsh has held interest rates steady at 3.5%-3.75%, signaling a period of stability for the financial markets. • Warsh's personal investments in cryptocurrency suggest a shift toward a more favorable Federal Reserve stance regarding Bitcoin and other digital assets. • While the Fed does not directly regulate crypto exchanges, its leadership heavily influences the risk tolerance of bank regulators, the Treasury, and Congress.

• Investors are focusing on the week of July 5th to July 13th, with a primary emphasis on China's June CPI and PPI data scheduled for release on July 9. • Market analysts are monitoring for a "K-shaped divergence" in prices and potential weaknesses in June's macro indicators, specifically regarding credit expansion and capital utilization. • Other critical global events include the release of the Federal Reserve meeting minutes and the U.S. stock market debut of SK Hynix.

• A longstanding federal protection prohibits most states from systematically purging voter rolls within 90 days of an election to prevent eligible voters from being disenfranchised. • Republicans are currently challenging this rule in court, seeking a reinterpretation that would allow for more frequent roll maintenance. • In a June court filing regarding Georgia's voter information, Justice Department attorneys argued that states can still remove ineligible individuals on a case-by-case basis during the quiet period if alerted by the U.S. government.

• The Federal Election Commission (FEC) is facing a collapse of its bipartisan, independent civil enforcement capabilities due to increasing presidential control. • The president has utilized executive orders to claim final authority over agency legal interpretations, potentially allowing for the rigging of rules to favor one political party. • This shift threatens the FEC's traditional role as the primary body for campaign finance enforcement, which includes negotiating civil settlements and referring criminal violations to the Department of Justice.

• A parliamentary inquiry has warned that Australian democracy is "under assault" from significant third parties ahead of the 2025 federal election. • To combat these threats, the inquiry is recommending the implementation of new laws to strictly police and regulate behavior at polling booths. • The Coalition has rejected these findings, with Liberal senator Jess Collins labeling the inquiry a "hyper-partisan witch-hunt" targeting church members.

Parliamentary inquiry recommends new laws to police behaviour at polling boothsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastNew laws are needed to police behaviour at polling booths after Australia’s democracy came “under assault” at last year’s federal election – including from third parties such as Plymouth Brethren Christian Church members and rightwing lobby group Advance – the chair of a parliamentary inquiry has said.The proposed new code of conduct for campaigners was among several recommendations in the interim report from the Labor-led committee reviewing the 2025 ballot, which was tabled on Tuesday afternoon. Continue reading...

• The Supreme Court struck down a 50-year-old federal election law on Tuesday, removing limits on how much political parties can spend in coordination with candidates for president and Congress. • The ruling follows a Republican-led lawsuit involving Vice President JD Vance, with the court's conservative majority deciding to upend congressionally enacted spending restrictions. • This decision expands the precedent set by the 2010 Citizens United ruling, which previously allowed for unlimited independent spending in federal elections.

• The Supreme Court struck down a federal election law over 50 years old, removing limits on how much political parties can spend in coordination with candidates for president and Congress. • The ruling eliminates previous financial restrictions that governed the relationship between party spending and individual candidate campaigns. • This decision significantly alters the landscape of campaign finance by allowing parties to provide much larger sums of direct support to their nominees.

• TechnoMile COO Mick Fox highlights a new Forrester report, "The Contract Lifecycle Management Platforms Landscape, Q2 2026," which analyzes the current state of the CLM industry. • The report confirms a significant industry shift toward post-signature governance, emphasizing that value is created through active contract management rather than just the initial drafting phase. • This trend is particularly critical for federal contractors who must navigate complex regulatory environments and long-term performance requirements.

• The CDC is ending its federal measles diagnostic testing program, shifting the responsibility for these tests to state laboratories. • While state labs already handle the majority of measles testing, critics are alarmed that the loss of federal oversight could impact surveillance and response times. • This policy shift reflects a transition toward decentralized public health monitoring, though concerns remain regarding the consistency of testing capabilities across different states.

• The Supreme Court's conservative majority ruled that the president has the authority to fire officials who wield executive authority, regardless of whether they have fixed terms set by law. • This decision challenges the long-standing 1935 precedent that protected bipartisan boards of experts from being dismissed due to political disagreements. • While the ruling expands presidential power over various independent agencies and commissions, the Court specifically noted that the Federal Reserve remains an exception.

• The Supreme Court issued a ruling on Monday that strikes down most existing limits on presidential control over independent federal regulatory agencies. • This decision significantly expands presidential power by dismantling protections previously established by Congress and the courts to ensure agency independence. • Legal experts, including Harvard professor Daniel Tarullo, describe the move as an aggressive application of the "unitary executive theory," granting the president unprecedented authority over the economy and American life.

• The Supreme Court ruled on Monday, June 29, 2026, that the president has the authority to fire the heads of independent agencies without cause. • The decision specifically allows President Donald Trump to remove Democratic member Rebecca Slaughter from the Federal Trade Commission, whom he fired last year. • This ruling strikes down a nearly century-old legal precedent designed to protect independent agencies from executive political influence.

Plan to limit scrutiny of polluters and shift financial risks to taxpayers is attack on democracy, advocates sayThe Trump administration is attempting to shrink public comment periods for fossil fuel leasing on federal land while shifting the financial risks of cleanup to taxpayers and allowing for more planet-warming emissions. It’s part of a broader effort to dismantle public input processes and save polluting companies money, advocates say.“By ignoring public comment [requirements] while propping up companies,” said Alexa Dietrich, research director at the science advocacy organization Union of Concerned Scientists, “they’re really attacking democracy in a very clear way.” Continue reading...