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WASHINGTON — President Trump’s nominee to chair the Federal Reserve said Tuesday that he never promised the White House that he would cut interest rates, even as the president renewed his calls for the central bank to do so.

“The president never once asked me to commit to any particular interest rate decision, period,” Kevin Warsh, a former top Fed official, said under questioning by the Senate Banking Committee. “Nor would I ever agree to do so if he had. … I will be an independent actor if confirmed as chair of the Federal Reserve.”

Warsh’s comments came just hours after Trump, in an interview on CNBC, was asked if he would be disappointed if Warsh didn’t immediately cut rates and responded, “I would.”

The comments underscore the challenge faced by Warsh, 56, a financier and former member of the Fed’s board of governors whom Trump named in January to replace the current Fed chair, Jerome H. Powell. Democrats on the committee accused Warsh of flip-flopping on interest rates over the years, supporting higher interest rates under Democratic presidents and advocating rate cuts during Trump’s time in office. Investors are watching the hearing closely to see how Warsh balances Trump’s demands with worsening inflation, as the war in Iran pushes up the price of gasoline.

Higher inflation typically leads the Fed to raise rates, or at least keep them unchanged, rather than cut them. When the Fed changes its key rate, it can affect mortgages, auto loans and business borrowing.

Yet Warsh’s account was challenged by Sen. Ruben Gallego, an Arizona Democrat, who said that Wall Street Journal reporting last year found that Trump had urged Warsh to reduce borrowing costs.

“Who’s lying here? Is it you or the president?” Gallego asked.

“I think those reporters need better sources,” Warsh responded.

For all the back and forth, the hearing didn’t appear to advance Warsh’s nomination, which has been delayed by a Justice Department investigation into the Fed and Powell, over brief testimony Powell gave last June before the same panel about a building renovation.

Sen. Thom Tillis, a North Carolina Republican on the committee, reiterated Tuesday he wouldn’t vote for Warsh until the investigation is dropped. With the committee closely divided and all Democrats opposed to his nomination, Tillis’ opposition is enough to bottle it up in committee.

“We have got to get rid of this investigation,” Tillis said, “so I can support your nomination.”

Tillis has previously said that all seven Republicans on the committee have signed a letter stating that Powell did not commit a crime when he testified before the panel last June. Federal prosecutors, led by U.S. Atty. Jeanine Pirro, are investigating his testimony for potential perjury, though a judge said last month they offered no evidence to support the charge when he threw out subpoenas Pirro had issued.

Prosecutors from her office as recently as last week sought access to the Fed’s building project but were turned away, revealing that the Trump administration has not reversed course despite opposition from members of his own party that are essential to Warsh’s confirmation.

In his opening remarks, Warsh told the Senate Banking Committee that one of his top goals would be to fight inflation, which remains elevated at 3.3% annually.

“Congress tasked the Fed with the mission to ensure price stability, without excuse or equivocation, argument or anguish,” Warsh said. “Inflation is a choice, and the Fed must take responsibility for it.”

Warsh would be in a tough spot if confirmed. Inflation is worsening, making it much harder for the Fed to implement the interest rate cuts Trump so desperately seeks. The conflict could also slow the economy, as well as hiring. And if Warsh ultimately becomes chair, he may very well find his predecessor, Powell, still sitting on the Fed’s governing board, an uncomfortable arrangement that hasn’t occurred since the late 1940s.

Warsh said the Fed’s political independence is “essential,” and that the central bank wasn’t threatened when “elected officials — presidents, senators, or members of the House — state their views on interest rates.” Trump has repeatedly urged Powell to cut the Fed’s key rate from its current level of about 3.6% to as low as 1%, a view almost no economist shares.

Sen. Elizabeth Warren, a Massachusetts Democrat, said that Trump has not just stated his opinions on rates, but has sought to fire a Fed governor and is investigating Powell.

“The Senate should not be aiding and abetting Donald Trump’s illegal takeover of the Fed by installing his chosen sock puppet as chair,” she said Tuesday.

Warren also noted that Warsh has not disclosed all of his financial holdings, which include investments in startups and private companies, or the size of those financial stakes. For example, Warsh has said he has holdings in SpaceX and Polymarket, but has not said how large those investments are.

Warren charged that Warsh is not in compliance with ethics requirements. Warsh argued that the Office of Government Ethics has signed off on his plan to sell all his assets within 90 days of his confirmation.

The turmoil could make a potential transition from Powell to Warsh an unusually turbulent one for the world’s most pivotal central bank, which has historically experienced smooth transfers of power. Should the change in leadership prove particularly bumpy, it could unnerve markets and lift longer-term interest rates.

Powell’s term as chair ends May 15. He said last month that he would remain as chair until a successor is named. Powell also is serving a separate term as a member of the Fed’s governing board that lasts until January 2028. Fed chairs typically leave the board when their terms as chair end, but Powell said last month he would remain on the board, even if a new chair is approved, until the investigation is dropped.

Trump said he would fire Powell if he attempted to remain at the Fed. Yet Trump’s previous attempt to remove a Fed governor, Lisa Cook, has been tied up in court. During oral arguments in January, a majority of justices on the Supreme Court appeared to lean toward leaving Cook at the Fed.

Rugaber writes for the Associated Press.

WASHINGTON — NASA recaptured the world’s attention with Artemis II, which took astronauts to the moon and back for the first time in half a century. But the agency’s scientific projects could again be under threat as the Trump administration makes a renewed push to drastically cut their funding — including at the Jet Propulsion Laboratory.

The cuts, proposed in the Trump administration’s 2027 budget request to Congress, would pose further challenges to the already weakened Caltech-managed lab and could be broadly damaging to American efforts to bring back new discoveries from space. They echo last year’s attempt by the administration to slash NASA funding, which Congress rejected.

Though the Artemis project is billed as laying a foundation for a crewed NASA mission to Mars, exploration of the Red Planet is among the endeavors that could be slashed. The rover currently exploring Mars’ ancient river delta and a mission to orbit Venus are among projects with JPL involvement targeted for spending cuts, according to an analysis of the NASA budget proposal by the nonprofit Planetary Society.

“This isn’t [because] they’re not producing good science anymore. There’s no rhyme or reason to it,” said Casey Dreier, chief of space policy at the Planetary Society, which led opposition to the administration’s similar effort to cut NASA funding last year.

Storm clouds hang over the Jet Propulsion Laboratory on Feb. 7, 2024.

(David McNew / Getty Images)

This time, the administration is asking Congress to cut NASA funding by 23% — including a 46% cut to its science programs, which are responsible for developing spacecraft, sending them into outer space to observe and analyzing the data they send back.

The proposal would cancel 53 science missions and reduce funding for others, according to the Planetary Society analysis. The effort to pare down NASA Science comes amid the Trump administration’s broader effort to cut scientific research across federal agencies.

The plan swiftly drew bipartisan criticism from members of Congress, who rejected the administration’s similar 2026 proposal in January. Republican Sen. Jerry Moran of Kansas, who chairs the Senate appropriations subcommittee that oversees NASA, indicated last week that he would work to fund NASA similarly for 2027, saying it would be “a mistake” not to fund science missions.

Moran plans to hold a hearing with NASA Administrator Jared Isaacman before the end of April to review the budget request, a spokesperson for his office said. The president’s budget request is an ask to Congress, which ultimately holds the power to allocate funding.

But until Congress creates its own budget, NASA will use the plan as its road map, which could slow grants and contracts. The proposal “still creates enormous chaos and uncertainty in the meantime for critical missions, the scientific workforce, and long-term research planning,” said Rep. Judy Chu (D-Monterey Park), whose district includes JPL.

A NASA spokesperson declined to comment Friday. In the budget request, Isaacman wrote that NASA was “pursuing a focused and right-sized portfolio” for its space science missions in order to align with Trump’s federal cost-cutting goals.

The budget “reinforces U.S. leadership in space science through groundbreaking missions, completed research, and next-generation observatories,” Isaacman wrote.

Jared Isaacman testifies during his confirmation hearing to be the NASA administrator in the Russell Senate Office Building on Capitol Hill on Dec. 3, 2025.

(Anna Moneymaker / Getty Images)

At JPL — which has for decades led innovation in space science and technology from its La Cañada Flintridge campus — questions had already swirled about the lab’s role in the future of NASA work.

Multiple rounds of layoffs over the last two years, the defunding of its embattled Mars Sample Return mission and a shift by the Trump administration toward lunar exploration and away from the type of scientific work that JPL executes had pushed the lab into a challenging stretch.

It has had a steady stream of employee departures in recent months, and those left have been scrambling to court outside funding from private investors, sell JPL technology to companies and increase productivity in hopes of keeping the lab afloat, according to two former staffers, who requested anonymity to describe the mood inside the lab.

“If we’re not doing science, then what are we doing?” asked one former employee, who recently left JPL after more than a decade there.

A spokesperson for the lab declined to comment, referring The Times to the budget proposal.

The NASA programs marked for cancellation or cutbacks support thousands of jobs at JPL and other centers, said Chu, who has led a push for increased funding for NASA Science. After last year’s layoffs, JPL “cannot afford to lose more of this expertise,” she said in a statement.

Among the JPL projects that appear to be slated for cancellation are two involving Venus, Dreier said. One, Veritas, is early in development and would give work to the lab for the next several years, he said.

The project would be the first U.S. mission to Venus in more than 30 years, Dreier said, and aims to make a high-resolution mapping of the planet’s surface and observe its atmosphere.

The Perseverance rover, which is on Mars collecting rock and soil samples, could face spending reductions. The budget request proposes pulling some funding from Perseverance to fund other planetary science missions and reducing “the pace of operations” for the rover.

Though how the Mars samples might get back to Earth is uncertain, the rover is still being used to explore the planet and search for evidence of whether it could have ever been habitable to life.

Researchers hope the tubes of Martian rock, soil and sediment can eventually be brought back to Earth for study. The team has about a half a dozen more sample tubes to fill and the rover is in good shape, said Jim Bell, a planetary scientist and Arizona State University professor who leads the camera team on Perseverance, which works daily with JPL.

He said NASA’s spending proposal put forth “no plan” for the future of the agency’s work.

“Are people just supposed to walk away from their consoles,” Bell asked, “and let these orbiters around other planets or rovers on other worlds — just let them die?”

The NASA document did not clearly show which programs were targeted for cuts and did not list which projects were targeted for cancellation. The Planetary Society and the American Astronomical Society each analyzed the proposal and found that dozens of projects appeared to be canceled without being named in the document.

Across NASA, other projects slated for cancellation according to the Planetary Society’s analysis include New Horizons, a spacecraft exploring the outer edge of the solar system; the Atmosphere Observing System, a planned project to collect weather, air quality and climate data; and Juno, a spacecraft studying Jupiter.

The administration’s plan also doesn’t prioritize new scientific projects, Bell said, which further jeopardizes long-term job stability and space discovery at centers like JPL.

“We’re going through this long stretch now with very few opportunities to build these spacecrafts,” Bell said. “All of the NASA centers are suffering from the lack of opportunities.”

Last year, the Trump administration proposed to slash NASA’s 2026 funding by nearly half. Instead, Congress approved funding in January that provided $24.4 billion for the agency — a cut of about 29% rather than the proposed 46%. The 2027 budget request asks for $18.8 billion.

Congress kept funding for science missions nearly steady, allocating $7.25 billion for science missions, about a 1% decrease from 2025. The administration had proposed cutting the science investment down to $3.91 billion. This time, the budget requests $3.89 billion.

Under the Trump administration, NASA has put an emphasis on moon exploration, including this month’s successful Artemis II mission. Isaacman, who defended the proposed cuts on CNN last week, touted the agency’s lunar plans, including a project to build a base on the moon.

The agency has indicated commitment to some existing science missions, including the James Webb Space Telescope, the to-be-launched Nancy Grace Roman Space Telescope, the Dragonfly spacecraft set to launch for Saturn’s moon in 2028, and other projects.

“NASA doesn’t have a topline problem, we just need to focus on executing and delivering world-changing outcomes,” Isaacman said on CNN.

Scientists have urged the government not to choose between funding science and exploration but to keep up investment in both.

“It’s ultimately kind of confusing, especially on the heels of the Artemis II mission,” said Roohi Dalal, deputy director for public policy at the American Astronomical Society. “The scientific community … is providing critical services to ensure that the astronauts are able to carry out their mission safely, and yet at the same time, they’re facing this significant cut.”

Paramount Skydance Chief Executive David Ellison made his case directly to theater owners Thursday, pledging to release a minimum of 30 films a year from the combined Paramount and Warner Bros. Discovery company during a speech at the CinemaCon trade convention in Las Vegas.

“I wanted to look every single one of you in the eye and give you my word,” Ellison said in a brief on-stage speech, adding that Paramount has already nearly doubled its film lineup for this year with 15 planned releases, up from 8 in 2025.

He also said all films will remain in theaters exclusively for 45 days, starting Thursday. Films will then go to streaming platforms in 90 days. The amount of time that films stay in theaters — known as windowing — has been a controversial topic for theater owners, as some studios reduced that period during the pandemic. Theater operators have said the shortened window has trained audiences to wait to watch films at home and cuts into theater revenues.

“I have dedicated the last 20 years of my life to elevating and preserving film,” said Ellison, clad in a dark jacket and shirt with blue jeans. “And at Paramount, we want to tell even more great stories on the big screen — stories that make people think, laugh, dream, wonder and feel — and we want to share them with as broad an audience as possible.”

Ellison’s CinemaCon appearance comes as more than 1,000 Hollywood actors and creatives have signed a letter opposing Paramount’s proposed acquisition of Warner. Supporters of the letter have said the deal would reduce competition in the industry and “further consolidate an already concentrated media landscape.”

Some theater operators have also questioned whether the combined company could achieve its goal of releasing 30 films a year, particularly after the cost cuts that are expected after the merger closes.

“People can speculate all they want — but I am standing here today telling you personally that you can count on our complete commitment,” Ellison said. “And we’ll show you we mean it.”

The speech came after a star-studded video directed by “Wicked: For Good” director Jon M. Chu that was shot on the Paramount lot on Melrose Avenue and showcased directors and actors including Issa Rae, Will Smith, Chris Pratt, James Cameron and Timothée Chalamet that are working with the company.

The video closed with “Top Gun” actor Tom Cruise perched atop the Paramount water tower.

“As you saw, the Paramount lot is alive again,” Ellison said after the video. “And we could not be more excited.”