The Federal Reserve has approved a controversial plan to reduce its staff by 10% despite internal opposition and pressure from the White House. During a closed-door meeting in Philadelphia, regional Fed chairmen, including Austan Goolsbee, expressed concerns about potential increased interference from the Trump administration. Despite these concerns, the plan was passed. The Fed continues to navigate its relationship with Trump, who has been advocating for interest rate cuts and has threatened officials. Meanwhile, regulatory discussions persist regarding the classification of securities versus commodities, alongside ongoing reviews of Countering the Financing of Terrorism efforts.