Fed Chair Powell delivers surprises in his final announcement

This episode of Apple News Today covers a series of high-stakes political and economic developments, beginning with a landmark Supreme Court ruling that significantly weakens the Voting Rights Act by prohibiting states from considering race in redistricting, even to comply with Section 2 protections. The 6-3 decision, authored by Justice Samuel Alito and strongly opposed by Justice Elena Kagan, has major implications for minority representation, particularly in Southern states, and could shift political power toward Republicans in upcoming elections. The episode then turns to Federal Reserve Chair Jerome Powell’s final announcement, where he defied expectations by staying on the Fed board after his chairmanship ends in May. Powell cited ongoing political attacks on the central bank and a Justice Department investigation into Fed renovations as reasons for his decision, drawing criticism from Treasury Secretary Scott Besant, who called it a violation of Fed norms. Powell’s final meeting also revealed deep internal divisions, with four of 12 Fed governors dissenting on rate policy, highlighting uncertainty amid rising Middle East tensions and inflation risks. The episode closes with updates on James Comey’s second indictment over a social media post involving seashells arranged as '8647', a case seen by some as politically motivated, and the Pentagon’s $25 billion cost estimate for U.S. involvement in the Iran war, amid growing scrutiny of Defense Secretary Pete Hegseth’s leadership and war rationale.