Senator Tim Kaine confirmed he will chair the Senate Budget Committee next year and said he intends to use budget reconciliation — the Senate process that permits passage with a simple majority — to deliver relief to households. He signalled plans to reverse cuts to Medicaid and SNAP, curb funding for overseas military actions he described as "illegal and stupid," and boost spending on education, housing, workforce training, healthcare and infrastructure. Kaine also pledged to act to prevent aut

ZELENSKIY: Ukrainian forces have recorded severe disruptions to the "Star Shield" system over Ukrainian airspace for several consecutive days.

The New York Fed's quarterly FX intervention report confirmed that on July 31 the U.S. Treasury, coordinating with Japan, sold euros from the Exchange Stabilization Fund to buy 79.4 billion yen in the spot market — roughly $497m at current rates. The action was taken to counter what the Treasury judged to be disorderly yen moves; the report reiterated that the Federal Reserve did not participate. USD/JPY traded up to 163.9. Japan's Ministry of Finance data show Japan's intervention totaled a record $97.5bn as of Aug. 26.