Powell’s Last Stand, SCOTUS on Migrants, King Charles in NY and more | CNN 5 Things

Hey, from CNN, I'm Afama Dike with the five things you need to know for Wednesday, April 29th.

Anyway, thank you very much, everyone.

I won't see you next time.

That's how Jerome Powell ended his final news conference as Federal Reserve Chairman today.

Stocks were mixed and Treasury yields rose after the central bank held rates steady, citing uncertainty from the Trump administration's policies and the conflict in the Middle East.

Powell's term ends on May 15th.

President Donald Trump picked Kevin Warsh to replace him, and he's widely expected to favor more rate cuts this year.

Powell said he congratulated Warsh, since he cleared a key hurdle today as his nomination advances to the full Senate for final approval.

But Powell says he intends to stay on the Fed board as governor for a brief period.

Last week the Justice Department dropped a criminal investigation against him, tied to costly renovations at the Fed's Washington DC headquarters.

But Powell noted that Jeanine Pirro, US attorney for the District of Columbia, said she wouldn't hesitate to restart the probe.

I'm waiting for the investigation to be well and truly over with finality and transparency.

And I'm waiting for that.

And I will leave when I think it's appropriate to do so.

More news coming up, including Trump's latest strategy in the war with Iran.

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President Trump recently told his advisors he wants to extend a US naval blockade of Iranian ports.

That's what sources familiar with the talks said.

And Trump's team has started laying the groundwork to make it happen, including a longer-term closure of the Strait of Hormuz.

The straits closure has driven up gas prices.

The latest reading from AAA shows the national average price for regular gas is 423 a gallon a four-year high.

A senior Pentagon official told lawmakers today that the US has spent 25 billion on the Iran war so far.

Sources say Pakistan could receive a revised peace proposal from Iran as soon as today or by Friday, after Trump rejected a previous version.

The ongoing ceasefire between the US and Iran was among topics Trump and Russian President Vladimir Putin talked about during a one and a half hour call today, according to a Kremlin spokesperson.

Speaking to reporters in the Oval Office, Trump said Putin offered to take control of Iran's uranium stockpiles.

He told me he'd like to be involved with the enrichment, if he can help us get it.

I said, I'd much rather have you be involved with ending the war with Ukraine.

Following his conversation with Putin, Trump said both wars in Iran and Ukraine could end quote, on a similar timetable.

The Supreme Court signaled it'll side with President Trump's push to end temporary deportation protections for Haitian and Syrian migrants.

More than a million immigrants are allowed to work and live in the U.S. under the program.

CNN's John Fritze explains.

At FOMA.

The arguments dealt with a program called Temporary Protected Status, which allows people from certain countries that are ravaged by war or natural disaster to remain in the US.

This program has been a target for Trump for a long time, since his first administration, and he's worked to cancel it broadly for many different countries.

One of the big questions in this case is whether federal courts can even review these TPS decisions.

The court's conservative majority spent almost all of its time on that question and not discussing whether the decision itself was legal.

That's a clue, at least, that the court may be leaning toward Trump on this one.

We'll know for sure when it hands down its decision in late June.

Former Attorney General Pam Bondi is scheduled to testify in the House Oversight Committee's Jeffrey Epstein probe.

That's according to a committee spokeswoman.

Bondi will sit next month for a transcribed interview instead of appearing for a deposition under oath.

It comes as the panel has pushed in recent months to hear from her about how the DOJ handled the Epstein files under her leadership.

A bipartisan group of lawmakers initially subpoenaed Bondi, but after she was ousted, the DOJ argued she could no longer appear in her official capacity and wouldn't sit for the previously scheduled deposition.

Coming up, day three of the British royal estate visit to the U.S.

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King Charles and Queen Camilla's state visit to the U.S. continued today with a stop in New York.

The royal couple paid their respects to the victims of the 9-11 terrorist attacks, laying a bouquet of flowers at the site of the National Memorial with a note signed.

They also met the families of the victims and some of the first responders.

A number of New York's elected officials were present for the royal visit to Ground Zero, including Mayor Zoran Mamdani and New York Governor Kathy Hochul.

King Charles then visited an urban farm community project in Harlem, and Queen Camilla attended a literary event at the New York Public Library.

Some attendees included actress Sarah Jessica Parker and Vogue's global editorial director Anna Wintour.

For more on The Royal Visit, listen to One Thing wherever you get your podcasts.

That is it for us.

Our next episode drops tomorrow morning.

I'm CNN tech reporter Claire Duffy.

This week on the podcast, Terms of Service.

What do we know about how much AI is contributing to energy consumption, energy demand right now?

And how does that compare with other industries?

The best resource for that is the International Energy Agency, which is sort of the global energy think tank that collects data on all of this.

And what they predict is that about 8 of the additional electricity that we're going to need by 2030.

That will be for data centers.

The other 92% is for other things, industry electrification, electric vehicles.

And AI is really only driving part of that increase in demand.

Listen to CNN's Terms of Service wherever you get your podcasts.

[CNN News Update: Fed Leadership Changes, Iran Conflict Escalation, and Supreme Court Migrant Policy]-[Powell’s Last Stand, SCOTUS on Migrants, King Charles in NY and more]

📋 Summary

Analysis of Current Geopolitical and Economic Developments

1. Federal Reserve Leadership Transition and Economic Policy

2. Escalation in the Middle East: The Iran-US Conflict

3. Legal and Judicial Developments

4. Diplomatic Engagements: The British Royal Visit

5. Technology and Infrastructure: The Energy Cost of AI

🎯Key Sentences

📝Key Phrases

📖 Transcript