Good morning! Happy belated Easter to everyone. We want to point out that while America is obviously the GOAT, a big chunk of our Canadian and British friends are off work today for Easter Monday. Recovering from glazed ham and Peep-induced comas is apparently no walk in the park.

On a more serious note, Ukraine and Russia are back at it today after a one-day Easter truce that both sides largely accused each other of ignoring.

PRESIDENCY

🏛️ Can the president fire the Fed chair?

Jay Powell? The Akron-area dentist? That guy’s job is safe (for now). The chair of the Federal Reserve, however, is on thin ice with the boss. Only that might not matter if his boss can’t legally fire him.

The situation: President Trump 1.0 appointed Jerome “Jay” Powell to a four-year term leading the Federal Reserve back in 2018. President Biden gave him a second term in 2022 that expires in May 2026. Yadda, yadda, yadda, Trump reeeeeally wants him outta there ASAP.

But, like, why? Trump thinks Powell should be cutting interest rates more than he has been. Lower interest rates mean more people spending more money, which means the economy is really pumping. Presidents love that. Powell, though? He’s worried about keeping a lid on inflation, which Trump says has already been fixed.

What’s the Fed again? The Fed, or Federal Reserve, is America’s central bank. It oversees the monetary system (our glorious U.S. dollar), helps set interest rates, and tries to keep inflation at a steady 2% per year. And while it can juice the amount of money floating around out there, it doesn’t actually print the Benjamins. Despite the similar vibes, the Fed is an independent agency unrelated to the Treasury Department.

Can he just do that? That depends. According to Powell? No chance. When asked in November if he'd resign at Trump's request, Powell bluntly said, "No" and noted that the law doesn't permit his removal. The prevailing view of this is that he’s right — Fed chairs can only be fired for wrongdoing.

• If you ask the White House, though? Maybe. They’re looking into it. The idea that a president isn’t allowed to fire the head of a federal agency is unpopular with many.

Who'd replace him? Well, probably not Lindsay Lohan, slay as she might. The top contender here is Kevin Warsh, who almost became Treasury secretary in January. He served from 2006 to 2011 on the Federal Reserve Board of Governors — that’s the board that Powell now chairs.

• A side possibility? Kevin Hassett. He’s the director of the National Economic Council and one of Trump’s top economic policy gurus.

Future: Kevin Warsh has advised Trump against firing Powell. That's a view shared by Treasury Sec. Scott Bessent, who worries that firing Powell will cause a panic-driven economic tailspin. Nobody knows where the president ends up on this. If he does try to fire Powell, though? Supreme Court, here we come.

GOVERNMENT

🐟️ President Trump signed two executive orders meant to boost the U.S. fishing industry. The first allows fishing in waters near the massive Pacific Remote Islands Marine National Monument. Created in 2009, that's a protected area of ocean surrounding some tiny U.S.-owned islands in the South Pacific. The second notes that ~90% of U.S. seafood is imported and directs agency heads to slash regulations they believe are harming the domestic fishing industry. Obviously, commercial fishermen are thrilled. But environmental groups believe the orders will harm already vulnerable fish populations.

🥚 Sure, Easter is over. But the vibes are still rolling in D.C. today at the 147th annual White House Easter Egg Roll. Around 40,000 ticket winners will competitively yeet 30,000 eggs down the South Lawn. They'll play games, listen to kiddie performers (and military bands?), decorate (and then hammer) some cookies, and enjoy some kid-friendly tech events courtesy Amazon, YouTube, and Meta. Tickets are free, and the corporate sponsorships raise money for the nonprofit White House Historical Association.

🇺🇦 Secretary of State Marco Rubio warned on Friday that the U.S. would bail on its efforts to end the war in Ukraine if no signs of progress are made “in a matter of days.” President Trump later backed up that view. On a related note, Ukraine and the U.S. signed the basis of a minerals deal to jointly develop Ukraine's natural resources. Details of the deal haven't been released. Treasury Sec. Scott Bessent said they hope to sign a fully detailed version by Saturday, April 26.

Q&A

⁉️ Fake margaritas and court orders

Q: Did the Supreme Court force Trump to stop deportations?

A: A little. The Trump administration has been using a 1798 war-focused law, the Alien Enemies Act, to deport illegal immigrants quickly by skipping out on the standard court-involved process. Just after midnight on Saturday morning, the Supreme Court handed down a brief order blocking some of that. The winner here is a group of migrants from Venezuela who were at risk of immediate deportation. Their attorneys claim they hadn't been given enough notice to challenge their removals. The Supreme Court agreed — but didn't explain its reasoning. Justices directed the government to avoid removing "any member" of this group “until further order of this court." Things are blazing on this, and the Trump administration later asked permission to remove them using a separate, less controversial law. TBD.

Q: What’s the deal with Sen. Van Hollen slamming margs in El Salvador? It wasn’t even a Monday.

A: Sen. Chris Van Hollen flew to El Salvador to get answers about Kilmar Abrego Garcia. That's the immigrant who was mistakenly deported to a prison in his home country. After an initial denial, Van Hollen was allowed to meet with the guy. Nayib Bukele, El Salvador's right-wing president, posted pictures of the meeting showing Van Hollen and Abrego Garcia sitting around a table with a few half-drunk margaritas. But Van Hollen claims it was a setup by Bukele to make him look bad and that nobody touched the drinks (He noted that the salted rim remained unbroken). The White House, meanwhile, maintains that Abrego Garcia is an MS-13 gang member.

TRIVIA

This past weekend was the big 250th anniversary for two big moments in American history. On April 19, 1775, the American Revolution began with the Battles of Lexington and Concord. The previous night, Paul Revere made his famous midnight ride, warning of the incoming British army. But riding around yelling at people wasn’t his full-time gig. What was Paul Revere’s day job?

Hint: He made physical things.

BRIEFS

● Chinese-built ships will soon pay hefty new fees to stop in U.S. ports. The move follows an investigation by both the Biden and Trump administrations and is meant to boost the U.S. shipbuilding industry. Most of the world’s ships today are built in China.

● Hamas has rejected a ceasefire proposed by Israel. The plan was for a 45-day truce in exchange for the release of 10 hostages, but Hamas wants a deal to end the war permanently. Hamas still holds an estimated 24 living hostages in Gaza.

● The U.S. and Iran are making "very good progress" in talks to prevent Iran from building a nuclear weapon. In 2018, Trump nixed an Obama-era deal and has since threatened to attack Iran if they don't make a new one.

● Meta is in court defending itself against claims by the Federal Trade Commission (FTC) that it holds an illegal monopoly over the social media industry. Meanwhile, another court just ruled that Google holds an illegal monopoly in online ad tech.

● COVID.gov now redirects to a page on WhiteHouse.gov that argues in favor of the lab leak theory and slams President Biden for pardoning Dr. Anthony Fauci. A Biden-era review by the CIA found a Chinese lab leak to be the disease’s likeliest origin.

● President Trump extended his federal hiring freeze through July 15. No vacant government jobs can be filled, and no new jobs can be created. The order exempts roles in the military and those related to immigration enforcement and national security.

QUOTE

ANSWER

If you answered blacksmith, you’d be… wrong. But close. Our man Paul Revere here was a fancy boy. He was a silversmith.