Zelensky backs down from plan to seize control of corruption watchdogs after protests - National & International News - THU 24Jul2025 -

Zelensky backs down from plan to seize control of corruption watchdogs after protests, concerns from allies.

Trump tests Powell’s mettle in meeting at Federal Reserve.

Zelensky backs down from plan to seize control of corruption watchdogs after protests, concerns from allies

Earlier this week, Ukraine’s parliament approved two new measures which would have undercut the independence of two of Ukraine’s most important anti-corruption watchdogs. The law would have placed Ukraine’s National Anti-Corruption Bureau (NABU) and Specialized Anti-Corruption Prosecutor’s Office (SAP) under the control of the prosecutor general, a presidential appointee. President Volodymyr Zelensky signed the legislation into law, claiming it was necessary to counter Russian influence in the country.

Ukrainians were not convinced. The passage of the law sparked the country’s largest nationwide anti-government protests since Russia’s invasion in February 2022. Zelensky’s foreign allies were equally unconvinced. After the passage of the law, the European Commission voiced concern, saying that Ukraine’s pathway to EU membership required them to maintain the rule of law and get corruption under control. German Chancellor Friedrich Merz and French President Emmanuel Macron sought urgent talks with Zelensky after he signed the bill, while key supporters in the US Senate also decried the law.

Bowing to pressure, Zelensky introduced a draft law today aimed at restoring the agencies’ independence. Both NABU and SAP have said they are satisfied that the new draft law “restores all procedural powers and guarantees of independence and urged Parliament to pass it.

Trump tests Powell’s mettle in meeting at Fed

Ever since coming into office in January, Trump has been demanding that Federal Reserve Chair Jerome Powell begin to lower interest rates. For several years, Powell and the Federal Reserve have been periodically raising interest rates to attempt a “soft landing” – that is cooling inflation After years of record low interest rates without tipping the economy over into recession. Powell has publicly said that Trump’s program of tariffs, and particularly the ever-changing policy around them, have created greater volatility in the markets, making a soft landing that much more difficult. Accordingly, Powell has so far held steady on interest rates.

Trump has on several occasions either demanded Powell’s resignation or threatened to fire him. Under normal circumstances, the President does not have the authority to fire the Federal Reserve chair. When asked previously if he would resign if Trump demand it, Powell’s answer was a flat “No”. Federal Reserve chairs serve a four-year term and Powell’s current term ends in May of 2026.

Today, Trump met with Powell at a construction site, part of a larger construction and renovation project for the Fed buildings. Recently, Trump has criticized Powell for cost overruns at the construction site. Donning hardhats, the two men toured the site and paused to speak with reporters.

At this point, Trump stated that the construction project had overrun to $3.1 billion. Powell, appearing incredulous, said he had heard no such figure from his colleagues. Apparently hoping to catch Powell flatfooted, Trump then produced a paper to back up his statement, which Powell quicky scrutinized after putting on his glasses. Powell then responded that this paper had added in the cost of work on a building which was completed 5 years ago. Trump retorted that it was part of the overall project, to which Powell responded, “It’s not new”.

Following this testy exchange, Trump declined to comment on whether would continue to pursue firing Powell, only insisting once again that Powell should reduce interest rates.