Day 1940: “Major red flags.” (opens in new tab)

Senate Republicans blocked a resolution to stop Trump’s war with Iran for the seventh time; the Senate confirmed Kevin Warsh as Federal Reserve chair; U.S. producer prices rose 1.4% in April and 6% from a year earlier; the Trump administration will withhold $1.3 billion in federal Medicaid reimbursements from California; the Department of Homeland Security’s inspector general is investigating ICE’s...