Eileen Wang, the mayor of Arcadia, California, just pleaded guilty to acting as a covert Chinese foreign agent — running a fake news website called “US News Center” targeting Chinese Americans while taking orders from Beijing via WeChat and reporting viewer counts back to her handlers, and she now faces up to 10 years in prison.
Meanwhile, the Senate confirmed Kevin Warsh to the Fed’s Board of Governors 51-45 today — with Jerome Powell’s term ending Friday, Warsh is one vote away from becoming the most powerful central banker on the planet, and he’s already promised “regime change” at the Fed.
That vote couldn’t come at a worse time: April CPI just came in at 3.8% annually — the highest since May 2023, beating expectations, with shelter costs up 0.6% in a single month — meaning real wages are shrinking while Americans are already getting crushed at the gas pump by the Iran war. Warsh says he wants rate cuts, the data says inflation won’t let him — so who wins that fight?
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