An overwhelming majority of Ukrainians – 77.6 percent – believe that President Volodymyr Zelensky is ‘directly responsible’ for the prevalent and increasingly recognized corruption at the heart of the Ukrainian government and army, according to a new Ukrainian study from the Democratic Initiatives Foundation (DIF) and the Kyiv International Sociological Institute (KIIS).
The results are not surprising, according to the study’s conductors, who argue that “Zelensky now has the kind of power that no one has had since the Communist era.” Ukraine’s President is responsible for appointing security officials and controlling the government, he possesses an absolute majority in the parliament, and is in control of anti-corruption bodies.
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The same study also found that 61 percent of Ukrainian citizens either “very often” or “often” come across reports that problems within the military are preventing the military from fighting the Russians effectively.
Almost two-thirds of those surveyed – 61.7 percent – felt that “corruption in procurement for the needs of the army” was to blame. Only 20.6 percent blamed the unsatisfactory training of Ukraine’s troops.The news follows Zelensky’s firing of all regional heads of military enlistment amidst ongoing investigations. He accused them of “treason”.
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❓WHAT HAPPENED: Laura Anne Jones, a lawmaker in the Welsh Parliament, or Senedd, has defected from the Conservatives to the Reform Party, becoming its first Member of the Senedd (MS).
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👤WHO WAS INVOLVED: Laura Anne Jones, Nigel Farage, Welsh Conservative leader Darren Millar, and Plaid Cymru (Party of Wales) leader Rhun ap Iorwerth.
📍WHEN & WHERE: Announced at the Royal Welsh Show in Llanelwedd on Tuesday.
💬KEY QUOTE: “I’ve just suddenly felt that the Conservative Party was unrecognisable to me. It wasn’t the party that I joined over three decades ago.” – Laura Anne Jones
🎯IMPACT: The defection reduces the Conservative presence in the Welsh Parliament to 14 and raises the prospect of further defections, with polls indicating Reform will come out well ahead of the Conservatives in the Welsh elections next year.
IN FULL
Laura Anne Jones, a Senedd (Welsh Parliament) lawmaker, has left the Conservative Party to join the populist Reform Party, as announced by party leader Nigel Farage at the Royal Welsh Show. This move makes her the first Member of the Senedd (MS) for Reform in Wales and represents the party’s highest-profile defection in the region.
Jones stated that she could no longer justify Conservative policies to voters. “I’ve just suddenly felt that the Conservative Party was unrecognisable to me. It wasn’t the party that I joined over three decades ago,” she said, adding that Reform “is listening to the people of Great Britain.”
The announcement has sparked anger among Welsh Conservatives. Darren Millar, leader of the Senedd Conservative group, expressed disappointment, saying voters in South Wales East would feel “very let down by her announcement.” He added, “We wish Laura all the very best in her new high tax and high spend party.” However, despite his snide remarks, polls suggest Reform is likely to place well ahead of the Conservatives in next year’s Senedd elections.
Nigel Farage praised Jones for her experience, stating, “She knows how the place works, and that’s very important for us.” Jones has previously been critical of the Labour-led Welsh government—roughly equivalent to a U.S. state government—for its policies, particularly on issues like education, healthcare, and support for farmers.
The defection is just the latest for Reform and comes just weeks after former Conservative Party chairman Sir Jake Berry joined the party, a major blow to current Tory leader Olukemi “Kemi” Olufunto Adegoke Badenoch.
❓WHAT HAPPENED: Interim U.S. Attorney Alina Habba was replaced after New Jersey federal district courtjudges, predominantly appointed by former presidents Barack Obama and Joe Biden, voted against extending her term.
👤WHO WAS INVOLVED: Alina Habba, Desiree Grace, President Donald J. Trump, Newark Mayor Ras Baraka (D), and Deputy Attorney General Todd Blanche.
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📍WHEN & WHERE: Decision announced Tuesday, July 22, in the Federal District of New Jersey.
💬KEY QUOTE: “Their rush reveals what this was always about: a left-wing agenda, not the rule of law.” – Todd Blanche
🎯IMPACT: Desiree Grace will temporarily assume the role; Habba could still resume the role should she be confirmed by the U.S. Senate to a full term.
IN FULL
Interim U.S. Attorney Alina Habba‘s position in the District of New Jersey came to an abrupt end—for now—after federal district court judges, predominantly appointed by former Presidents Barack Obama and Joe Biden, voted not to extend her term. The judges voted behind closed doors on Monday to replace her with First Assistant U.S. Attorney Desiree Grace. Grace will temporarily take over the role effective immediately, according to a court order made public on Tuesday, July 22.
Habba, known for her previous role as President Donald J. Trump’s personal attorney and legal spokeswoman, has aggressively pursued legal action against a group of New Jersey Democratic Party lawmakers who are accused of physically assaulting federal immigration officials earlier this year. In May, she ordered the arrest of Newark’s Democratic mayor, Ras Baraka, for allegedly trespassing in an immigration detention facility. The charges were later dropped, and a judge criticized her actions as an attempt to “satisfy public clamor.” Baraka has since filed a defamation lawsuit against Habba.
Additionally, in June, Congresswoman LaMonica McIver (D-NJ) pleaded not guilty to charges brought by Habba alleging McIver forcibly impeded federal officers during the attempted arrest of Baraka. The charges include allegations that McIver physically obstructed officers, using her arms to block and strike them.
President Trump recently nominated Habba for a full four-year term, emphasizing her commitment to cracking down on street crime. She has also received endorsements from law enforcement groups. However, Democrats in the U.S. Senate say they will uniformly oppose the nomination, citing a lack of prosecutorial experience and accusing her of politicizing the role.
Habba’s path to Senate confirmation currently appears blocked as New Jersey’s Democratic senators, Cory Booker and Andy Kim, submitted blue slips opposing her nomination. However, the blue slip process is merely a courtesy extended to a nominee’s home-state senators by the relevant committee chairman and can be ignored.
Deputy U.S. Attorney General Todd Blanche defended Habba on Tuesday, accusing the federal judges of pursuing a partisan agenda. “The district court judges in NJ are trying to force out [Habba] before her term expires at 11:59 PM Friday. Their rush reveals what this was always about: a left-wing agenda, not the rule of law,” Blanche stated on X (formerly Twitter). He added: “When judges act like activists, they undermine confidence in our justice system. Alina is President Trump’s choice to lead—and no partisan bench can override that.”
❓WHAT HAPPENED: President Donald J. Trump issued an endorsement for GOP Senator Mike Rounds of South Dakota, despite previously vowing never to support him again.
👤WHO WAS INVOLVED: President Trump, Senator Rounds, and voters in South Dakota.
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📍WHEN & WHERE: The endorsement was made this week via Truth Social.
💬KEY QUOTE: “Mike Rounds has my Complete and Total Endorsement for Re-Election – HE WILL NEVER LET YOU DOWN!” — President Donald Trump
🎯IMPACT: The endorsement marks a significant shift in Trump’s stance toward the senator and could influence South Dakota’s political landscape.
IN FULL
President Donald J. Trump is backing U.S. Senator Mike Rounds (R-SD) for re-election despite having pledged not to endorse the South Dakota lawmaker just three years ago. In 2022, Trump slammed Rounds after the senator described the 2020 election as “fair” during an appearance on ABC’s This Week. At the time, Trump referred to Rounds as a “weak and ineffective leader” and stated, “I will never endorse this jerk again.”
However, in a Truth Social post on Monday, President Trump announced he would once again endorse Sen. Rounds, after backing his candidacy in 2020 as well. “Senator Mike Rounds is an incredibly strong advocate for the wonderful people of South Dakota, a State I love, and WON BIG, in 2016, 2020, and 2024!” Trump wrote, continuing: “An America First Patriot, Mike is fighting tirelessly to Advance the Great Values of the Mount Rushmore State, Champion our Farmers and Ranchers, Strengthen the Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Ensure American Energy DOMINANCE, Help Secure our already Highly Secure Border, Support our Brave Military, Veterans, and Law Enforcement, and Protect our always under siege Second Amendment.”
President Trump concluded the post by stating: “Mike Rounds has my Complete and Total Endorsement for Re-Election – HE WILL NEVER LET YOU DOWN!”
While endorsements during U.S. midterm elections often focus on party unity and retention of Congressional majorities, Trump’s decision to back Rounds is surprising. The South Dakota Republican threw his support to fellow Senator Tim Scott (R-SC) during the 2024 Republican presidential primary and has clashed with President Trump’s policy agenda, especially the administration’s immigration stance at times.
Most recently, Rounds sought to reduce the size of federal funding cuts to NPR and PBS in President Trump’s rescission request. Along with Sens. Susan Collins (R-ME) and Lisa Murkowski (R-AK), Rounds argued that public broadcasters are an essential service for Native American tribes and rural areas. Ultimately, the cuts to NRP and PBS were enacted, and Rounds voted in favor of the measure.
❓WHAT HAPPENED: Protests have erupted in Ukraine after President Volodymyr Zelensky signed a bill scrapping the independence of anti-corruption groups.
👤WHO WAS INVOLVED: President Volodymyr Zelensky, the Ukrainian parliament, and protestors.
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📍WHEN & WHERE: The bill was signed by Zelensky on July 22.
💬KEY QUOTE: Josh Rudolph of the German Marshall Fund called the moves a “brazen campaign to undermine the entire ecosystem constructed to root out corruption.”
🎯IMPACT: The crackdown and legislation have led to the first major protests against the Zelensky regime since Russia’s full-scale invasion in 2022.
IN FULL
Ukrainian President Volodymyr Zelensky’s government is facing popular protests for undermining the country’s leading anti-corruption bodies, with the Ukrainian leader signing a bill that ends the independence of agencies tasked with investigating high-level corruption.
Last week, Vitalii Shabunin, a prominent anti-corruption activist and frequent critic of the Zelensky administration, was charged with evading military service and fraud, accusations he and dozens of civil society groups say are politically motivated. “This prosecution of Mr. Shabunin is the opening salvo,” said Josh Rudolph of the German Marshall Fund, calling it part of a “brazen campaign to undermine the entire ecosystem constructed to root out corruption.”
On July 21, Ukrainian security services launched sweeping raids on the National Anti-Corruption Bureau of Ukraine (NABU) and the Special Anti-Corruption Prosecutor’s Office (SAPO), claiming Russian infiltration. Authorities detained one NABU employee, though the agency said no evidence was ever presented in previous discussions with security officials.
The following day, the Ukrainian parliament, dominated by Zelensky’s party, passed legislation giving the President-appointed prosecutor general expanded control over these anti-corruption agencies. NABU Director Semen Kryvonos warned the law would dismantle efforts to “fight high-level corruption,” urging Zelensky not to sign it.
Critics argue these moves signal a broader crackdown on dissent. “This is the moment when Zelensky and his administration have very clearly crossed the red line,” said Daria Kaleniuk, head of the Anti-Corruption Action Center, which Shabunin co-founded.
The backlash includes editorials in major Ukrainian media and an open letter from 59 NGOs, calling the charges against Shabunin a “deliberate attack to pressure” him. The Group of 7 (G7) also voiced “serious concerns” about the raids and legislative changes.
Happening now: The largest protest of wartime Ukraine is underway in central Kyiv over President Zelensky’s push to dismantle the country’s independent anticorruption agencies. Thousands of protesters and more pouring in. Chants of “Shame!” among others. They demand Zelensky veto… pic.twitter.com/ojEiEuLPNv
Svitlana Matviienko, executive director of the Ukrainian non-profit Agency for Legislative Initiatives, compared the new legislation to the corruption under former President Viktor Yanukovych, ousted in the Western-backed 2014 Euromaidan coup.
Anti-Zelensky protests erupted just hours after the parliament voted—the first major protests against Zelensky and his regime during the war with Russia. Some claim that thousands took part in protests in Kiev, as well as in major cities like Lviv and Dnipro.
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❓WHAT HAPPENED: A U.S. federal government employee has been unable to leave China since April 14 after Chinese authorities in the city of Chengdu seized their passport, electronic devices, and credit cards. They were subsequently informed by Chinese officials that they are subject to an exit ban, meaning they cannot return to the United States without approval from Beijing.
👤WHO WAS INVOLVED: An unidentified U.S. Patent and Trademark Office (USPTO) employee, the U.S. Department of State, the Chinese Foreign Ministry, and Wells Fargo banker Mao Chenyue.
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📍WHEN & WHERE: The U.S. government employee has been restricted from leaving China since April 14, 2025, with the Department of State confirming the situation in July.
💬KEY QUOTE: “We can confirm that a U.S. Patent and Trademark Office employee, while traveling to China in a personal capacity, was made subject to an exit ban in China.” — U.S. State Department
🎯IMPACT: The diplomatic row comes amid the ongoing trade conflict between the United States and China, along with heightened tensions regarding Beijing’s territorial aims on Taiwan.
IN FULL
China has placed an exit ban on a United States government employee, restricting the individual from leaving the country. According to the State Department, a staffer with the Department of Commerce’s U.S. Patent and Trademark Office (USPTO) is being barred from leaving China by Communist Party (CCP) officials in Beijing, along with a Wells Fargo banker who is normally based in the U.S. The USPTO employee has not been publicly identified.
“We can confirm that a U.S. Patent and Trademark Office employee, while traveling to China in a personal capacity, was made subject to an exit ban in China,” the State Department confirmed, adding: “We are tracking this case very closely and are engaged with Chinese officials to resolve the situation as quickly as possible.”
The U.S. federal government staffer has been unable to leave China since April 14 after Chinese authorities in the city of Chengdu seized their passport, electronic devices, and credit cards. Subsequently, the USPTO employee had their belongings released back to them on April 22, but was informed that they had to remain in China. Concerningly, the Chinese Foreign Ministry has said very little about the exit ban and addressed the matter only briefly during a press conference on Monday, stating that it “upholds the rule of law and handles entry and exit affairs in accordance with the law.”
In addition, the Chinese Foreign Ministry confirmed that it has barred Wells Fargo banker Mao Chenyue from leaving the country, claiming she is facing criminal charges. Chenyue, a U.S. citizen who was born in Shanghai, works as a managing director at Wells Fargo in Atlanta, Georgia. It remains unclear what charges Chenyue actually faces.
China does not recognize dual nationality, meaning individuals who were born in China or whose parents are of Chinese origin could be targeted by state security officials—especially if they are considered to be sympathetic to or involved with anti-CCP dissidents.
Notably, Chinese-British pro-democracy activist Jimmy Lai is currently being held by the CCP. The founder of the outspoken Apple Daily newspaper in Hong Kong is embroiled in a national security trial that could result in a life sentence. The charges include colluding with foreign forces, allegations widely criticized internationally as politically motivated.
❓WHAT HAPPENED: General Motors (GM), in a letter to shareholders, said it is now in the process of shifting billions of dollars of production back into the U.S. in response to President Donald J. Trump’s tariff policies.
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👤WHO WAS INVOLVED: GM CEO Mary Barra, President Trump, Mexico, and U.S. autoworkers.
📍WHEN & WHERE: The production shift was announced in a second-quarter earnings letter to GM shareholders on July 22, 2025.
💬KEY QUOTE: “In addition to our strong underlying operating performance, we are positioning the business for a profitable, long-term future as we adapt to new trade and tax policies, and a rapidly evolving tech landscape.” — GM CEO Mary Barra
🎯IMPACT: GM is now projecting it will produce more than two million of its vehicles in the U.S. each year.
IN FULL
The largest automaker in the United States says it is scaling back its manufacturing footprint abroad, especially in Mexico, and instead investing billions in its America-based facilities in response to President Donald J. Trump’s imposition of tariffs on foreign imports, including automobiles. General Motors (GM) CEO Mary Barra, in a letter to shareholders, said the company is in the process of moving billions of dollars of production back into the U.S., as well as retrofitting some of its American manufacturing facilities to produce more internal combustion engine autos instead of electric vehicles.
Barra emphasized that the auto giant will likely undertake additional measures beyond an already planned $4 billion U.S. production investment to “greatly reduce our tariff exposure.” The letter continues: “In addition to our strong underlying operating performance, we are positioning the business for a profitable, long-term future as we adapt to new trade and tax policies, and a rapidly evolving tech landscape.”
Notably, the GM CEO announced that the company is now projecting to produce more than two million of its vehicles in the U.S. each year. As part of achieving this objective, GM has begun pausing truck production at at least one of its plants in Mexico, with assembly being moved to Michigan instead. Additionally, the company says it is investing nearly $1 billion in a powertrain facility in Buffalo, New York, focusing on producing gas-powered V8 engines for its truck and sport utility vehicle lines.
GM’s Chief Financial Officer, Paul Jacobson, echoed Barra, stating: “Over time, we remain confident that our total tariff expense will come down as bilateral trade deals emerge and our sourcing and production adjustments are implemented.” Notably, while GM saw its revenue slide in the second quarter, the automaker contends this was primarily due to flagging electric vehicle sales and a recall involving a software problem with its electric vehicles as well. The automaker’s total revenue still beat Wall Street expectations.
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By Popular Demand.
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❓WHAT HAPPENED: President Donald J. Trump has accused former President Barack Obama and other former officials of “treason” over the Russiagate hoax.
👤WHO WAS INVOLVED: President Donald J. Trump, former President Barack Obama, Hillary Clinton, former Federal Bureau of Investigation (FBI) Director James Comey, former Central Intelligence Agency (CIA) Director John Brennan, former Director of National Intelligence (DNI) James Clapper, current DNI Tulsi Gabbard, and Attorney General Pam Bondi.
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📍WHEN & WHERE: President Trump made the remarks during a meeting with the President of the Philippines, Ferdinand “Bongbong” Marcos Jr., on July 22.
💬KEY QUOTE: “After what they did to me, and whether it’s right or wrong, it’s time to go after people.” – President Trump
🎯IMPACT: The statement could spur Attorney General Pam Bondi to begin laying the groundwork for Obama and others to be prosecuted.
IN FULL
President Donald J. Trump leveled serious accusations against former President Barack Obama on July 22, calling him the orchestrator of a plot to subvert his 2016 election victory. During a bilateral meeting in the Oval Office with Filipino President Ferdinand “Bongbong” Marcos Jr., Trump responded to media questions on recently declassified documents suggesting that high-level officials from the Obama administration, former Federal Bureau of Investigation (FBI) Director James Comey, former Central Intelligence Agency (CIA) Director John Brennan, and former Director of National Intelligence (DNI) James Clapper, conspired to create and manipulate the Trump-Russia investigation.
“After what they did to me, and whether it’s right or wrong, it’s time to go after people,” Trump said. “The witch hunt that you should be talking about is they caught President Obama absolutely cold… They tried to rig the election, and they got caught—and there should be very severe consequences for that,” he added.
.@POTUS: “The witch hunt that you should be talking about is they caught President Obama absolutely cold … They tried to rig the election and they got caught — and there should be very severe consequences for that.” pic.twitter.com/tNLz91Xp6T
— Rapid Response 47 (@RapidResponse47) July 22, 2025
In a separate post on Truth Social on Monday, Trump directly accused Obama of being the architect of the “Russia, Russia, Russia HOAX,” branding it “The CRIME of the CENTURY!”
“Obama himself manufactured the Russia, Russia, Russia HOAX. Crooked Hillary [Clinton], Sleepy Joe [Biden], and numerous others participated in this, THE CRIME OF THE CENTURY!. Irrefutable EVIDENCE. A major threat to our Country!!!” Trump wrote.
The America First leader also singled out several other prominent figures, including Hillary Clinton, former President Joe Biden, James Clapper, and James Comey, insisting they should face serious consequences for election interference.
“They tried to rig the election, and they got caught, and there should be very severe consequences,” he told reporters during the six-minute exchange.
.@POTUS: “Barack Hussein Obama is the ringleader. Hillary Clinton was right there with him and so was Sleepy Joe Biden, and so were the rest of them — Comey, Clapper, the whole group. They tired to rig an election and then they got caught.” pic.twitter.com/zf2GqE3Dox
— Rapid Response 47 (@RapidResponse47) July 22, 2025
Director of National Intelligence (DNI) Tulsi Gabbard has reportedly referred Obama administration officials to the Department of Justice for attempting to undermine the results of the 2016 election. According to Gabbard, Obama directed intelligence agencies to fabricate an assessment on Russian election interference without supporting evidence.
Gabbard’s referral also accused the group of relying on discredited material, including content from the bogus Steele Dossier, which was partially funded by Clinton-aligned interests, to fuel the Russia narrative. That information, she claimed, was strategically leaked to corporate media outlets such as The Washington Post and The New York Times to drive public opinion and damage Trump’s credibility.
❓WHAT HAPPENED: Ozzy Osbourne, the iconic singer and reality TV star, passed away at 76.
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IN FULL
Ozzy Osbourne, the legendary musician and reality TV personality, has died at the age of 76. Known for his role as the frontman of the band Black Sabbath, Osbourne’s career spanned decades and earned him a place in rock and roll history.
His impact on the music industry is undeniable. His career saw him release numerous hit albums and singles both as a solo artist and with Black Sabbath. Osbourne’s influence extended beyond music, as he became a pop culture icon through his reality TV show, “The Osbournes.”
“It is with more sadness than mere words can convey that we have to report that our beloved Ozzy Osbourne has passed away this morning. He was with his family and surrounded by love. We ask everyone to respect our family privacy at this time,” a statement from the family read.
The announcement of his passing has been met with an outpouring of tributes from fans and fellow musicians alike. Many have taken to social media to express their sorrow and share memories of the man affectionately known as the “Prince of Darkness.”
Throughout his career, Osbourne was known for his distinctive voice, theatrical stage presence, and larger-than-life persona. He leaves a legacy that will continue to inspire musicians and entertain fans for years.
Osbourne is survived by his wife, Sharon, and their children, Aimee, Kelly, and Jack.
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By Popular Demand.
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❓WHAT HAPPENED: A federal judge issued a temporary restraining order against a Mississippi law banning diversity, equity, and inclusion (DEI) from public schools and universities.
👤WHO WAS INVOLVED: U.S. District Court Judge Henry Wingate, the Mississippi Association of Educators, the American Civil Liberties Union (ACLU), and the Mississippi Center for Justice.
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📍WHEN & WHERE: The restraining order was issued on Sunday, pausing the law’s implementation for at least 14 days. The law, House Bill 1193, took effect on July 1 in Mississippi.
💬KEY QUOTE: “Suppressing constitutional speech through vague prohibitions and the specter of financial retribution does not serve the public good—it undermines it,” Judge Wingate claimed.
🎯IMPACT: The law’s enforcement is paused, and institutions are temporarily shielded from penalties tied to its provisions while further hearings are scheduled.
IN FULL
U.S. District Court Judge Henry Wingate, appointed by Ronald Reagan, issued a temporary restraining order on Sunday against a Mississippi law that bans diversity, equity, and inclusion (DEI) programs from public schools and universities. The law, House Bill 1193, had taken effect on July 1 after being approved in April. The 78-year-old judge’s order halts its implementation for at least 14 days.
The plaintiffs and their representatives include the Mississippi Association of Educators, American Civil Liberties Union (ACLU), and Mississippi Center for Justice—a Democrat-aligned lawfare group funded by George Soros’s Open Society Foundations and grants from the U.S. Department of Housing and Urban Development (HUD). They argued that the law’s allegedly vague language and punitive measures, such as the withdrawal of state funding, created a chilling effect on constitutionally protected speech. Judge Wingate agreed, citing examples of how the law had already impacted faculty and institutions.
“Suppressing constitutional speech through vague prohibitions and the specter of financial retribution does not serve the public good—it undermines it,” the federal judge wrote in his order, adding: “An over-broad, constitutionally borderless law should be the target of a well-aimed injunction to promote, rather than impair, the interests of Mississippi citizens, the integrity of its institutions, and the constitutional principles on which this republic stands.”
The Mississippi law prohibits DEI offices, programs, and trainings, as well as courses promoting so-called “divisive concepts,” including the idea that one race or sex is superior to another. It also bans concepts tied to transgender ideology, gender-neutral pronouns, and related topics. Institutions found in violation risk losing state funding or facing other penalties.
Judge Wingate highlighted affidavits from school officials that described partnerships and programs being abruptly canceled due to fear of violating the law. Wingate concluded that the evidence showed a “clear and ongoing deprivation of constitutional rights” and warranted injunctive relief. A hearing is scheduled for Wednesday to determine whether to extend the restraining order further.
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❓WHAT HAPPENED: Mohamed El-Erian called for Federal Reserve Chairman Jerome Powell to step down in order to protect the Fed’s integrity.
👤WHO WAS INVOLVED: Mohamed El-Erian, Jerome Powell, President Donald J. Trump, and Treasury Secretary Scott Bessent.
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📍WHEN & WHERE: El-Erian made the statement on X (formerly Twitter) on Tuesday, July 22, 2025.
💬KEY QUOTE: “If Chair Powell’s objective is to safeguard the Fed’s operational autonomy (which I deem vital), then he should resign.” – Mohamed El-Erian
🎯IMPACT: The statement adds to growing criticism of Powell and the Federal Reserve, including concerns over mission creep and lack of action toward reducing interest rates.
IN FULL
Renowned Egyptian-American economist Mohamed El-Erian says he is increasingly convinced that Federal Reserve Chairman Jerome Powell should announce his resignation sooner rather than later in order to protect the U.S. central bank’s independence on monetary policy. In a Tuesday morning post on X (formerly Twitter), El-Erian—who once managed investment strategy for Harvard University‘s endowment and served as chairman of former President Barack Obama’s Global Development Council—argued that the increasing scrutiny from Congress and the Trump White House leaves Powell with little choice but to step down.
“This morning, US government criticism of both Federal Reserve Chair Powell and the institution itself has broadened to include ‘mission creep’ and the effectiveness of other officials,” the President of Queens’ College, Cambridge, wrote, continuing: “The developments of the last few days reinforce my view: If Chair Powell’s objective is to safeguard the Fed’s operational autonomy (which I deem vital), then he should resign.”
“I recognize this isn’t the consensus view, which favors him staying until the end of his tenure in May. Nor is it a first best, which is simply not attainable. Yet, it’s better than what is playing out now—growing and broadening threats to Fed independence—and will undoubtedly increase should he remain in office,” the former PIMCO CEO added. El-Erian further emphasized that he believes the names being floated as potential replacements for Powell are well respected enough to calm any potential market volatility.
The National Pulse reported on Monday that Congresswoman Anna Paulina Luna (R-FL) made a formal criminal referral to the U.S. Department of Justice (DOJ), alleging that Powell made “materially false” claims to Congress. Rep. Luna states the central bank chief appeared to have committed perjury during his June 25 testimony before the Senate Committee on Banking, Housing, and Urban Affairs regarding renovations to the Federal Reserve’s headquarters. Notably, the National Capital Planning Commission is also investigating issues surrounding Powell’s oversight of the renovations.
Late Monday, U.S. Treasury Secretary Scott Bessent added his concerns regarding mission creep at the Federal Reserve to the mounting criticism Powell is facing. “It is my belief that the central bank should conduct an exhaustive internal review of its non-monetary policy operations,” Bessent said, adding: “Significant mission creep and institutional growth have taken the Fed into areas that potentially jeopardize the independence of its core monetary policy mission.”
However, despite his continued frustration with Powell and the Fed’s lack of urgency in reducing interest rates, President Donald J. Trump signaled last week that he is “not planning on doing anything” to remove Powell just yet. However, Trump reiterated that he remains “very concerned” about the central bank’s lack of action in cutting borrowing costs.
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Many people are shocked to learn that because of active censorship, we currently have to spend more time making sure you can even see The National Pulse, than on producing the news itself. Which sucks. Because we do this for the truth, and for you.
But the regime doesn’t want you being informed. That’s why they want us to go away. And that will happen if more people don’t sign up to support our work. It’s basic supply and demand. So demand you get to read The National Pulse, unrestricted. Sign up, today.
We don’t sell ads, and refuse corporate or political cash. It all comes down to you, the reader. I hope you can help.
