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PALM BEACH, Fla. — As Major League Baseball closes in on an agreement for its players to participate in the 2028 Olympics, Commissioner Rob Manfred said the controversy surrounding LA28 chief Casey Wasserman would not impact the league’s final decision.

“Our dealings are not with Casey,” Manfred said Thursday at the MLB owners’ meetings. “Our dealings are with the institution of the Olympics.”

On Wednesday, amid a stream of artists dumping Wasserman’s talent agency and a growing list of civic leaders calling on him to resign, the executive committee of the LA28 board issued a statement backing Wasserman.

In recently released emails, Wasserman was linked to Jeffrey Epstein and his associate, Ghislaine Maxwell. The board retained a law firm to investigate, the statement said, and the review did not uncover any behavior beyond what was already known: a “single interaction with Epstein” on a plane flight for a humanitarian mission and raunchy emails with Maxwell, both two decades ago, before the “deplorable crimes” of both became public.

“Based on these facts, as well as the strong leadership he has exhibited over the past ten years, Mr. Wasserman should continue to lead LA28 and deliver a safe and successful Games,” the committee statement said.

Epstein died by suicide after his indictment on sex trafficking charges in 2019. Maxwell was convicted of sex trafficking in 2021.

Manfred declined to say whether he was concerned that an association with Wasserman could be detrimental for baseball.

“I’m going to pass on that one,” Manfred said. “People much closer to that situation are better to opine on that.”

Mark Attanasio, the Los Angeles-based owner of the Milwaukee Brewers, is a member of the LA28 executive committee. Attanasio said he would let the statement speak for itself.

While baseball is not new to the Olympics, the participation of major leaguers would be. In past Olympics, MLB declined to interrupt its season so its players could travel halfway around the world, and Team USA featured minor leaguers and college players.

MLB players already travel to Los Angeles every summer, and Wasserman has pitched Manfred and MLB owners in a variety of meetings on the benefit of using major leaguers at a time the league is focused on broadening its international appeal.

“What an incredible opportunity to elevate the sport in a city where you have one of the great cathedrals of the sport,” Wasserman told The Times last year. “There is no better chance to tell the global story of baseball than from the Olympics in Los Angeles.

“They understand that. We could have another Dream Team, or two, depending on the countries. That is a vehicle to tell the story of baseball around the world, and that is really powerful.”

MLB and LA28 officials have worked out a tentative timeline under which the All-Star Game would be played in its usual mid-July spot in 2028, most likely in San Francisco, followed by a six-day, six-team Olympic baseball tournament at Dodger Stadium.

“I think people have come to appreciate that the Olympics on U.S. soil is a unique marketing opportunity for the game,” Manfred said Thursday. “We’ve got a lot of players interested in doing it, and I feel pretty good about the idea we’ll get there.”

Are the Dodgers good for baseball?

Outfielder Kyle Tucker adjusts his Dodgers cap during his introductory news conference at Dodger Stadium on Jan. 21.

(Ronaldo Bolaños/Los Angeles Times)

The Dodgers’ signing of outfielder Kyle Tucker – for $60 million per year – revived the debate over whether the big-spending, star-studded, back-to-back champions are good for baseball.

“I think great teams are always good for baseball,” Manfred said. “I think, with respect to this particular great team, it added to what we have been hearing from fans in a lot of markets for a long time about the competitiveness of the game. But great teams are always good for baseball.”

MLB officials have cited that fan concern repeatedly over the last year, prelude to an expected push for a salary cap. Manfred declined to discuss the owners’ labor strategy but said he expected negotiations on a new collective bargaining agreement to begin after Opening Day and said he would not talk about MLB proposals until they are presented to the players’ union.

The current agreement expires Dec. 1, and a lockout is widely expected.

Where can you watch the Angels?

Angels star Mike Trout celebrates after hitting a solo home run against the Houston Astros on Sept. 28 in Anaheim.

(Wally Skalij / Associated Press)

The Angels already are in spring training, and yet their fans have no idea where to watch their games on television this season.

The Angels have agreed that MLB will provide a streaming option, and a team official confirmed they are still deciding whether to let MLB sell their telecasts to cable and satellite distributors or reinvent what remains of the FanDuel Sports channel already part-owned by the team, with the Kings joining the Angels.

The Angels’ situation is not unique. Three years ago, MLB did not provide broadcast services to any team. Today, amid the collapse of the cable and satellite universe, MLB provides broadcast services to 14 of its 30 teams — 15, if the Angels go that way.

In 2028, Manfred would like to sell national streaming packages, in the hope that more bidders would mean more revenue, a particularly acute need for the teams losing revenue as guaranteed rights fees are cut or eliminated altogether. The challenge: how to convince the Dodgers and other big-market teams to sacrifice their still-lucrative local rights so MLB can sell a 30-team package.

“Ideally, I’d love to get there,” Manfred said. “I don’t need to get all the way there to accomplish most of what I am thinking about.”

On Thursday, Manfred cited one way he could get close enough: have rival owners vote to expand the number of games — for the Dodgers or anyone else — that would be classified as national rather than local.

“We can take as many games as we want from any club in a national package,” Manfred said, “with a majority vote of the clubs.”

WASHINGTON — Ever since a racist video was posted on President Trump’s social media account, the White House has offered shifting responses.

First it dismissed “fake outrage” by those denouncing it as racist, then it deleted the post and blamed a staff member.

Trump later told reporters Friday that “I didn’t make a mistake.” The Republican president claimed that before the video was posted, he did not see the part that depicted former President Obama and former First Lady Michelle Obama as apes.

The chair of the Congressional Black Caucus was unsparing in her criticism when she spoke to the Associated Press.

“It’s very clear that there was an intent to harm people, to hurt people, with this video,” Rep. Yvette Clarke (D-N.Y.) said.

The AP interviewed Clarke, who leads the group of more than 60 Black House and Senate members, hours after the video was deleted Friday.

Here is an interview transcript, edited for length and clarity.

What was your reaction when you saw that the post?

We’re dealing with a bigoted and racist regime. … Every week we are, as the American people, put in a position where we have to respond to something very cruel or something extremely off-putting that this administration does. It’s a part of their MO at this point.

Do you buy the White House explanation that this was an aide’s mistake?

They don’t tell the truth. If there wasn’t a climate, a toxic and racist climate within the White House, we wouldn’t see this type of behavior regardless of who it’s coming from…. Here we are, in the year 2026, celebrating the 250th anniversary of the United States of America, the 100th anniversary of the commemoration of Black history, and this is what comes out of the White House on a Friday morning. It’s beneath all of us.

Has there been any contact between the White House and the Congressional Black Caucus on this? Could there be any good-faith exchange?

There has been no outreach from the White House. We certainly didn’t expect there to be. The outreach has to happen prior to these type of juvenile antics.

Republican criticism built more quickly Friday than it has during previous Trump controversies. What do you make of that?

It’s not lost on them, our communities that we represent, that elections are coming up. So it’s not lost on my colleagues, either. If they want to align themselves with this type of really profane imagery, this type of bigoted and racist attack on a former sitting president and his wife, they are throwing their lot in with an individual who has shown himself to be a disgrace.

It’s not common for President Trump to retract anything. What does that indicate to you that he did?

I think it’s more of a political expediency than it is any moral compass. … As my mother would say, “Too late. Mercy’s gone.”

What more do you hope to see from the White House about this?

My hope is that we can contain the harm that they’re doing. There are Black children who are listening to their president … seeing what he’s posting on Truth Social, [and] it will have an impact on how they view leadership of their own country. … I think that this administration has an opportunity to change course. They always do. We leave room for that. But, unfortunately, Donald Trump is hardwired this way.

Is there anything else you’d like to add?

As a democracy, we have to stand up together against this type of racism, this type of bigotry, this kind of hatred that is coming from the president of the United States and those who surround him. … It’s very clear that there was an intent to harm people, to hurt people, with this video. Otherwise, it wouldn’t have stayed up for 12 hours.

Barrow and Zhang write for the Associated Press and reported from Atlanta and Washington, respectively.

Feb. 3 (UPI) — Enrique Lores will be the new chief executive officer of PayPal Holdings Inc., and David Dorman is the digital payment processor’s new independent board chairman, the company announced Tuesday.

Lores previously was the tech firm’s chairman and served on the independent board for five years, and he replaces Alex Chriss as its chief executive officer, PayPal announced.

Lores won’t immediately take the reins as PayPal’s top executive. Instead, Chief Financial and Operating Officer Jamie Miller will serve as interim chief executive until Lores is ready to take the helm.

While Lores won’t immediately become PayPal’s chief executive, Dorman immediately becomes chairman of its independent board.

“Enrique is widely recognized as a visionary leader who prioritizes customer-centric innovation with demonstrable impact,” Dorman said.

“His strong track record leading complex transformations and disciplined execution on a global basis will ensure PayPal maintains its leadership of the dynamic payments industry now and into the future,” Dorman said of Lopes.

“I look forward to continuing to work with the board and supporting Enrique as he takes on the CEO role,” he added.

“We will further strengthen the culture of innovation necessary to deliver long-term transformation and balance this with near-term delivery, executing with greater speed and precision and holding ourselves accountable for consistent delivery quarter on quarter to further assert PayPal’s industry leadership position,” Lores said.

“The payments industry is changing faster than ever, driven by new technologies, evolving regulations, an increasingly competitive landscape and the rapid acceleration of AI that is reshaping commerce daily,” he explained.

“PayPal sits at the center of this change, and I look forward to leading the team to accelerate the delivery of new innovations and to shape the future of digital payments and commerce,” Lores said.

PayPal’s board of directors evaluated Lores’ qualifications for the new position before appointing him as the new chief executive.

PayPal officials said the change is needed to enable the company to better address industry-wide changes and competition.

Lores has more than 30 years of technology and commercial experience and “is widely recognized as a visionary leader who prioritizes customer-centric innovation with demonstrable impact,” Dorman said.

“His strong track record leading complex transformations and disciplined execution on a global basis will ensure PayPal maintains its leadership of the dynamic payments industry now and into the future,” he added.

PayPal’s board said the company’s future success will be as a global services provider whose strengths are its consumer, merchant and partner relationships.

The chief executive position opened when Chriss vacated the position after 2.5 years.

WASHINGTON — The Republican chair of a House Committee rejected an offer Monday from former President Clinton to conduct a transcribed interview for a House investigation into convicted sex offender Jeffrey Epstein, pushing the threat to hold both Clintons in contempt of Congress closer toward a vote.

The impasse comes as the full House is headed toward potential votes this week on criminal contempt of Congress charges against the Clintons. If passed, the charges threaten Bill Clinton and former Secretary of State Hillary Clinton with substantial fines and even incarceration if they are convicted.

Rep. James Comer, the chair of the House Oversight Committee, said on social media that he would insist on both Clintons sitting for a sworn deposition before the committee in order to fulfill the panel’s subpoenas. A letter from the committee to attorneys for the Clintons indicates that they had offered for Bill Clinton to conduct a transcribed interview on “matters related to the investigations and prosecutions of Jeffrey Epstein” and for Hillary Clinton to submit a sworn declaration.

“The Clintons do not get to dictate the terms of lawful subpoenas,” Comer, a Kentucky Republican, said.

The Republican-controlled Oversight panel had advanced criminal contempt of Congress charges last month. Nine of the committee’s 21 Democrats joined Republicans in support of the charges against Bill Clinton as they argued for full transparency in the Epstein investigation. Three Democrats also supported the charges against Hillary Clinton.

Bill Clinton’s relationship with Epstein has re-emerged as a focal point for Republicans amid the push for a reckoning over Epstein, who killed himself in 2019 in a New York jail cell as he faced sex trafficking charges.

Clinton, like a bevy of other high-powered men, had a well-documented relationship with Epstein in the late 1990s and early 2000s. He has not been accused of wrongdoing in his interactions with the late financier.

After Bill and Hillary Clinton were both subpoenaed in August by the House Oversight Committee, their attorney had tried to argue against the validity of the subpoena. However, as Comer threatened to begin contempt of Congress proceedings, they started negotiating toward a compromise.

Still, the Clintons remained highly critical of Comer’s decision, saying that he was bringing politics into the investigation while failing to hold the Trump administration accountable for delays in producing the Department of Justice’s case files on Epstein.

Groves writes for the Associated Press.

South Korean stocks nosedived by more than 5 percent Monday, due largely to a risk-averse sentiment following the nomination of the new Federal Reserve chair, and a sharp decline in silver and gold prices. The Korean won plunged against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 274.69 points, or 5.26 percent, to close at 4,949.67, snapping a four-session winning streak.

The country’s main bourse operator, the Korea Exchange (KRX), issued a sell-side circuit breaker for 5 minutes around noon.

Trade volume was heavy at 568.8 million shares worth 32 trillion won (US$21.9 billion). Losers outnumbered winners 795 to 116.

Foreign and institutional investors offloaded a net 2.5 trillion won and 2.2 trillion won, respectively. Retail investors, on the other hand, went bargain hunting and snapped up a net 4.6 trillion won.

Local stocks came under selling pressure following the nomination of Kevin Warsh, seen widely as a hawkish figure, as Fed chair, and sharp declines in silver and gold prices, according to Lee Kyoung-min, an analyst from Daishin Securities.

“A sharp drop in precious metals triggered the liquidation and margin call of derivatives holding them. This in turn led to the forced liquidation of other assets, as investors went to preserve margins, further amplifying the stock market’s decline,” Lee said.

International gold prices have experienced a sharp decline of over 10 percent in the past few days, while sliver prices plunged over 30 percent.

The local gold market was affected, too, with gold traded on the KRX falling to its lowest permissible limit of 10 percent Monday. It marked the first time KRX gold prices fell to the floor since the market opened in March 2014, according to the bourse operator.

“There is a possibility the benchmark KOSPI could take a breather, considering its sharp gains recently, but a daily decline of 4 to 5 percent seems excessive,” Han Ji-young, a researcher at Kiwoom Securities, said.

Shares closed lower across the board.

Market top-cap Samsung Electronics declined 6.29 percent to 150,400 won, while its chipmaking rival SK hynix tumbled 8.69 percent to 830,000 won.

Top car marker Hyundai Motor retreated 4.4 percent to 478,000 won, bio firm Celltrion lost 3.33 percent to 203,000 won, and defense giant Hanwha Aerospace closed down 4.69 percent to 1,239,000 won.

Financial shares were among the few winners.

Hana Financial Group added 3.2 percent to 103,300 won, and Meritz Financial Group inched up 0.69 percent to 117,400 won.

The Korean won was quoted at 1,464.3 won against the U.S. dollar at 3:30 p.m., down 24.8 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 1.4 basis points to 3.152 percent, and the return on the benchmark five-year government bonds rose 1.2 basis points to 3.448 percent.

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United States President Donald Trump has nominated former Federal Reserve Governor Kevin Warsh to head the US central bank when current Federal Reserve Chair Jerome Powell’s term ends in May.

The announcement on Friday caps a months-long, highly publicised search for a new chair of the Federal Reserve, widely regarded as one of the most influential economic officials in the world.

It comes amid Trump’s public pressure campaign on Powell, whom he appointed during his first term but has repeatedly condemned for not cutting interest rates at the pace the president would like.

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump posted on his Truth Social site. “On top of everything else, he is ‘central casting,’ and he will never let you down.”

The statement referenced the apparent compromise Warsh represents. The 55-year-old is known to be in Trump’s orbit and has recently called for lower interest rates, although he is expected to stop short of the more aggressive easing associated with some other potential candidates for the job.

Still, he is expected to face a punishing Senate confirmation hearing, with US lawmakers likely to be particularly critical given Trump’s public comments and the Department of Justice’s decision earlier this month to open a criminal probe into Powell.

Critics, including Powell, have said Trump’s actions seek to undermine the Federal Reserve’s independence and pressure the agency to set monetary policy aligned with the president’s wishes.

What does the Federal Reserve do?

The Federal Reserve has long been seen as a stabilising force in global financial markets, due in part to its perceived independence from politics.

The Federal Reserve is tasked with combating inflation in the United States while also supporting maximum employment. It is also the nation’s top banking regulator.

The agency’s rate decisions over time influence borrowing costs throughout the economy, including for mortgages, car loans and credit cards.

In a statement, Senator Elizabeth Warren, the top Democrat on the US Senate Banking Committee, said, “This nomination is the latest step in Trump’s attempt to seize control of the Fed.”

She pointed to the investigation into Powell, as well as Trump’s effort to push out Fed Governor Lisa Cook, which is currently being challenged before the US Supreme Court.

“No Republican purporting to care about Fed independence should agree to move forward with this nomination until Trump drops his witch-hunt,” Warren said.

Republican Senator Thom Tillis, meanwhile, said he would not vote to confirm any nominee until the Department of Justice probe into Powell is ended.

“Protecting the independence of the Federal Reserve from political interference or legal intimidation is non-negotiable,” he said in a statement.

Still, some Republicans welcomed the nomination.

“No one is better suited to steer the Fed and refocus our central bank on its core statutory mandate,” Republican Senator Bill Hagerty said in a statement.

If Warsh is confirmed, it remains unclear if Powell would immediately step down or finish out his term. Traditionally, Federal Reserve Chairs step aside as soon as their replacement is appointed, but the political situation has led to speculation Powell could stay on as long as possible.

Who is Warsh?

Warsh is currently a fellow at the right-leaning Hoover Institution and a lecturer at the Stanford Graduate School of Business.

He was a member of the Federal Reserve’s board from 2006 to 2011 and became the youngest Federal Reserve Governor in history when he was appointed at age 35.

He was an economic aide in George W Bush’s Republican administration and was an investment banker at Morgan Stanley. His father-in-law is Ronald Lauder, heir to the Estee Lauder cosmetics fortune and a longtime donor and confidant of Trump’s.

Warsh has historically supported higher interest rates to control inflation, but has more recently argued for lower rates.

He has been a vocal critic of current Federal Reserve leadership, calling for “regime change” and criticising Powell for engaging on issues like climate change, which Warsh has said are outside the role’s mandate.

Reporting from Washington, DC, Al Jazeera’s Kimberly Halkett said Warsh’s experience means his appointment will likely be well received by the markets.

“The consensus is that in the short term, yes, this is a nominee who will do what the president has asked,” she said.

“But what he could do long term as chair of the board is very similar, ironically, to what Jerome Powell, the current board chair, is doing right now,” she said.

“That is having independence – making decisions based on economic data and not necessarily on political whims of a president.”

WASHINGTON — President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a pick likely to result in sharp changes to the powerful agency that could bring it closer to the White House and reduce its longtime independence from day-to-day politics.

Warsh would replace current chair Jerome Powell when his term expires in May. Trump chose Powell to lead the Fed in 2017 but this year has relentlessly assailed him for not cutting interest rates quickly enough.

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump posted on his Truth Social site. “On top of everything else, he is ‘central casting,’ and he will never let you down.”

The appointment, which requires Senate confirmation, amounts to a return trip for Warsh, 55, who was a member of the Fed’s board from 2006 to 2011. He was the youngest governor in history when he was appointed at age 35. He is currently a fellow at the right-leaning Hoover Institution and a lecturer at the Stanford Graduate School of Business.

In some ways, Warsh is an unlikely choice for the Republican president because he has long been a hawk in Fed parlance, or someone who typically supports higher interest rates to control inflation. Trump has said the Fed’s key rate should be as low as 1%, far below its current level of about 3.6%, a stance few economists endorse.

During his time as governor, Warsh objected to some of the low-interest rate policies that the Fed pursued during and after the 2008-09 Great Recession. He also often expressed concern at that time that inflation would soon accelerate, even though it remained at rock-bottom levels for many years after that recession ended.

But more recently, however, in speeches and opinion columns, Warsh has said he supports lower rates.

Controlling the Fed

Warsh’s appointment would be a major step toward Trump asserting more control over the Fed, one of the few remaining independent federal agencies. While all presidents influence Fed policy through appointments, Trump’s rhetorical attacks on the central bank have raised concerns about its status as an independent institution.

The announcement comes after an extended and unusually public search that underscored the importance of the decision to Trump and the potential impact it could have on the economy. The chair of the Federal Reserve is one of the most powerful economic officials in the world, tasked with combating inflation in the United States while also supporting maximum employment. The Fed is also the nation’s top banking regulator.

The Fed’s rate decisions, over time, influence borrowing costs throughout the economy, including for mortgages, car loans and credit cards.

For now, Warsh would fill a seat on the Fed’s governing board that was temporarily occupied by Stephen Miran, a White House adviser who Trump appointed in September. Once on the board, Trump could then elevate Warsh to the chair position when Powell’s term ends in May.

Trump’s economic policies

Since Trump’s reelection, Warsh has expressed support for the president’s economic policies, despite a history as a more conventional, pro-free trade Republican.

In a January 2025 column in The Wall Street Journal, Warsh wrote that “the Trump administration’s strong deregulatory policies, if implemented, would be disinflationary. Cutbacks in government spending — inspired by the Department of Government Efficiency — would also materially reduce inflationary pressures.” Lower inflation would allow the Fed to deliver the rate cuts the president wants.

Since his first term, Trump has broken with several decades of precedent under which presidents have avoided publicly calling for rate cuts, out of respect for the Fed’s status as an independent agency.

Trump has also sought to exert more control over the Fed. In August he tried to fire Lisa Cook, one of seven governors on the Fed’s board, in an effort to secure a majority of the board. He has appointed three other members, including two in his first term.

Cook, however, sued to keep her job, and the Supreme Court, in a hearing last week, appeared inclined to let her keep her job while her suit is resolved.

Economic research has found that independent central banks have better track records of controlling inflation. Elected officials, like Trump, often demand lower interest rates to juice growth and hiring, which can fuel higher prices.

Trump had said he would appoint a Fed chair who will cut interest rates, which he says will reduce the borrowing costs of the federal government’s huge $38 trillion debt pile. Trump also wants lower rates to boost moribund home sales, which have been held back partly by higher mortgage costs. Yet the Fed doesn’t directly set longer-term interest rates for things like home and car purchases.

Potential challenges and pushback

If confirmed by the Senate, Warsh would face challenges in pushing interest rates much lower. The chair is just one member of the Fed’s 19-person rate-setting committee, with 12 of those officials voting on each rate decision. The committee is already split between those worried about persistent inflation, who’d like to keep rates unchanged, and those who think that recent upticks in unemployment point to a stumbling economy that needs lower interest rates to bolster hiring.

Financial markets could also push back. If the Fed cuts its short-term rate too aggressively and is seen as doing so for political reasons, then Wall Street investors could sell Treasury bonds out of fear that inflation would rise. Such sales would push up longer-term interest rates, including mortgage rates, and backfire on Warsh.

Trump considered appointing Warsh as Fed chair during his first term, though ultimately he went with Powell. Warsh’s father-in-law is Ronald Lauder, heir to the Estee Lauder cosmetics fortune and a longtime donor and confidant of Trump’s.

Who is Warsh?

Prior to serving on the Fed’s board in 2006, Warsh was an economic aide in George W. Bush’s Republican administration and was an investment banker at Morgan Stanley.

Warsh worked closely with then-Chair Ben Bernanke in 2008-09 during the central bank’s efforts to combat the financial crisis and the Great Recession. Bernanke later wrote in his memoirs that Warsh was “one of my closest advisers and confidants” and added that his “political and markets savvy and many contacts on Wall Street would prove invaluable.”

Warsh, however, raised concerns in 2008, as the economy tumbled into a deep recession, that further interest rate cuts by the Fed could spur inflation. Yet even after the Fed cut its rate to nearly zero, inflation stayed low.

And he objected in meetings in 2011 to the Fed’s decision to purchase $600 billion of Treasury bonds, an effort to lower long-term interest rates, though he ultimately voted in favor of the decision at Bernanke’s behest.

In recent months, Warsh has become much more critical of the Fed, calling for “regime change” and assailing Powell for engaging on issues like climate change and diversity, equity and inclusion, which Warsh said are outside the Fed’s mandate.

His more critical approach suggests that if he does ascend to the position of chair, it would amount to a sharp transition at the Fed.

In a July interview on CNBC, Warsh said Fed policy “has been broken for quite a long time.”

“The central bank that sits there today is radically different than the central bank I joined in 2006,” he added. By allowing inflation to surge in 2021-22, the Fed “brought about the greatest mistake in macroeconomic policy in 45 years, that divided the country.”

Rugaber writes for the Associated Press.