Michael Selig, chair of the U.S. Commodity Futures Trading Commission, told Congress on Thursday that the agency will continue issuing regulations despite him being the sole sitting commissioner on the five-member body. The CFTC's other four seats are currently vacant, leaving the derivatives regulator operating well below its full deliberative capacity. Selig's commitment signals the agency does not intend to pause its rulemaking calendar while awaiting Senate confirmation of additional commissioners. The practical consequence is that any regulations issued under a single-commissioner quorum could face legal and procedural scrutiny, and market participants in derivatives, swaps, and futures markets should monitor whether output rules carry the same weight and durability as those issued by a fully constituted commission. Senate confirmation timelines for the remaining seats will determine how long this governance gap persists and how much of the CFTC's regulatory agenda advances under constrained authority.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
