Regulators seized First Republic Bank early Monday, making it the second-largest bank failure in U.S. history. Its deposits and most of its assets were sold to JPMorgan. The sale again raises questions about the health of the U.S. banking system.
Also on Monday, Treasury Secretary Janet Yellen told lawmakers that the federal government could run out of money to pay its debts as soon as June 1 if the debt ceiling isn't raised. The Biden administration and Congress are scrambling to avoid the economic catastrophe that could arise if the government runs out of cash.
This week, the Senate Judiciary Committee held a hearing surrounding Supreme Court ethics. Justice Clarence Thomas reportedly accepted more luxury gifts from a billionaire Republican donor that he failed to disclose. Democrats present said their goal was to get the Supreme Court to write itself a code of conduct.
On Thursday, Russia claimed that Ukraine tried to assassinate its president, Vladimir Putin, by attacking the Kremlin with a drone. According to Russian officials, no one was harmed. Ukraine has denied the allegations.
This week, the United Nations called upon Sudan's rival military leaders to allow humanitarian aid to be delivered safely within the country's borders. The pressure comes after the warring factions looted six aid trucks as air strikes rained down in the capital city of Khartoum amid what was supposed to be a weeklong ceasefire.
It will be a weekend of pomp and pageantry in the United Kingdom as Charles is officially crowned King on Saturday. The country has been gearing up all this week.
Joining us for the domestic portion of the News Roundup is Michigan Radio Program Director Zoe Clark, The Washington Post's White House Editor Naftali Bendavid, and Semafor's Washington Bureau Chief Benjy Sarlin.
For the international edition, we're joined by The New Statesman's U.S. Editor Emily Tamkin, the Financial Times's Washington Bureau Chief Demetri Sevastopulo, Senior Fellow at the Center for the Study of the Presidency and Congress James Kitfield, and CNN Royal Correspondent Max Foster.
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