Week in review

In the News

Federal Reserve reduces interest rate

WASHINGTON — The Federal Reserve reduced its key interest rate for the third time in a row Wednesday but indicated it may leave rates unchanged in the coming months, a move that could attract ire from President Donald Trump, who has demanded steep reductions to borrowing costs.

In a statement released after a two-day meeting, the Fed's rate-setting committee suggested it might keep its rate unchanged in the coming months. In a set of quarterly economic projections, Fed officials signaled they expect to lower rates just once next year.

Wednesday's cut reduced the rate by a quarter-point to about 3.6%, the lowest it has been in almost three years. Lower rates from the Fed can bring down borrowing costs for mortgages, auto loans and credit cards over time, though market forces can also affect those rates.

EPSTEIN: Secret grand jury transcripts from Jeffrey Epstein's 2019 sex trafficking case can be made public, a judge ruled Wednesday, joining two other judges in granting the Justice Department's requests to unseal material from investigations into the late financier's sexual abuse.

EXECUTIVE POWER: The Supreme Court on Monday seemed likely to expand presidential control over independent federal agencies, signaling support for President Donald Trump's firing of board members.

DEFENSE BILL: The House voted to pass a sweeping defense policy bill Wednesday that authorizes $900 billion in military programs. The bill calls for a 3.8% pay raise for many military members.

In the News

US forces seize tanker off coast of Venezuela

WASHINGTON — President Donald Trump said Wednesday the United States seized an oil tanker off the coast of Venezuela as tensions mount with the government of President Nicolás Maduro.

Using U.S. forces to seize an oil tanker is incredibly unusual and marks the Trump administration's latest push to increase pressure on Maduro, who is charged with narcoterrorism in the United States.

"We've just seized a tanker on the coast of Venezuela, a large tanker, very large, largest one ever seized, actually," Trump told reporters at the White House, later adding "it was seized for a very good reason."

HEALTH CARE: The Senate rejected two partisan health bills on expiring Affordable Care Act subsidies Thursday, essentially guaranteeing that millions of Americans will see a steep rise in costs at the beginning of the year.

CAMPAIGN FINANCE: Conservative Supreme Court justices appeared to back a Republican-led drive, supported by President Donald Trump's administration, to overturn a quarter-century-old decision Tuesday and erase limits on how much political parties can spend in coordination with candidates for Congress and president.

ABREGO GARCIA: A federal judge in Maryland ordered Kilmar Abrego Garcia freed from immigration detention Thursday while his legal challenge against his deportation moves forward. The Department of Homeland Security was critical of the judge's order and vowed to oppose it.

— Associated Press

Big number

$12B U.S. President Donald Trump's farm aid package announced Monday. It's intended as a boost to farmers who struggle to sell their crops after getting hit by rising costs when the president raised tariffs on China as part of a broader trade war. Soybeans and sorghum were hit the hardest by Trump's trade dispute with China because more than half those crops are exported each year.

He said ...

We were a little bit successful. We were somewhat successful."

— Billionaire and former DOGE chief Elon Musk, speaking to former DOGE spokesperson Katie Miller on her podcast about the agency's efforts to slash costs in the federal government The water cooler

WARNER BROS: Paramount launched a $77.9 billion hostile takeover offer Monday for Warner Bros. Discovery, initiating a potentially bruising battle with rival bidder Netflix to buy the company behind HBO, CNN and a famed movie studio along with the power to reshape much of the nation's entertainment landscape. Paramount said its decision to go hostile came after it made several earlier offers that Warner management "never engaged meaningfully" with after the company's October announcement that it was open to selling itself.

KIMMEL: ABC said Monday it signed late-night comic Jimmy Kimmel to a one-year contract extension. Kimmel's future looked questionable in September, when ABC suspended "Jimmy Kimmel Live!" for remarks made following the assassination of conservative activist Charlie Kirk.

MACKENZIE SCOTT: Author and philanthropist MacKenzie Scott revealed $7.1 billion in donations to nonprofits in 2025, marking a significant increase in her annual giving from recent years. Scott acknowledged donating $2.6 billion in 2024 and $2.1 billion in 2023. The gifts this year bring her total giving since 2019 to $26.3 billion. Scott's donations captured the attention of nonprofits because they come with no strings and are often very large.

VIEWERSHIP RECORD: The Detroit Lions' 44-30 win over the Dallas Cowboys on Dec. 4 averaged 19.39 million viewers, making it the most-watched "Thursday Night Football" broadcast in Amazon Prime Video's four seasons streaming those games. The previous mark for a Thursday game on the streaming service was 17.76 million earlier this season for the Washington Commanders-Green Bay Packers game on Sept. 11.