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Trump Limits Independent Federal Agencies

President Trump signed an executive order Tuesday expanding White House oversight of independent federal agencies, including the FTC, FCC, SEC, and the Federal Reserve’s bank supervision role.

The order applies to the Fed’s regulatory functions, such as its oversight of big banks, requiring alignment with administration priorities, but explicitly excludes its rate-setting role and other monetary policy decisions.

The order, titled Ensuring Accountability for All Agencies, requires these agencies to submit draft regulations, performance standards, and budgets for White House review to better align their actions with administration goals.

Trump framed the move as necessary for accountability, but critics warn it could undermine the agencies’ independence and faces likely legal challenges. See White House’s fact sheet here.

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Major Cuts Ordered in Defense Spending

Defense Secretary Pete Hegseth ordered senior military officials to draft a five-year budget plan cutting defense spending by 8% annually, according to an unreleased memo, calling for proposals by Feb. 24.

Hegseth directed officials to assess needs based on a “wartime tempo” and eliminate spending on diversity, equity, and inclusion programs, as well as climate change studies.

Overall, an 8% annual cut over the next five years could reduce military spending by nearly $300 billion.

The memo also outlined 17 categories that the Trump administration classified as exempt. Those categories included operations at the southern U.S. border, modernization of nuclear weapons and missile defense, and acquisition of submarines, one-way attack drones, and other munitions.

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Ford F-150 Dethroned as U.S. Top Seller

Toyota’s RAV4 surpassed the Ford F-150 as America’s best-selling vehicle in 2024, ending 42 years of dominance for the iconic Ford pickup truck.

Consumer data revealed that F-150 sales dropped by 5% to 460,915 units in 2024, while RAV4 sales rose by 9% to 475,193 units, making the Toyota crossover compact SUV the narrow leader in U.S. sales.

Factors such as high interest rates, increased popularity of leasing, and a temporary halt in F-150 production due to supplier issues last year may have contributed to the unprecedented decline in Ford truck sales.

Ford has challenged the initial sales data reporting, stating that the company does not separate sales figures for individual vehicles in its top-selling truck and vehicle categories.

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Senate GOP leaders plan to vote this week on their budget resolution, despite President Trump endorsing the House’s single-bill approach. (More)

President Trump and Ukrainian President Volodymyr Zelenskyy engaged in a back-and-forth this week, with Trump questioning Zelensky’s commitment to peace and Zelensky calling Trump a victim of Russian disinformation. (More)  

The State Department on Wednesday designated eight foreign drug cartels and criminal gangs, including Tren de Aragua and MS-13, as terrorist organizations, equating them with groups like the Taliban and Hamas. (See List)

and finally…

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