*By Kristen Lee*
Attorney General Jeff Sessions abruptly resigned at President Trump's request on Wednesday, ending a tenure marked by a series of public humiliations inflicted by the man who elevated him into the nation's highest law-enforcement position.
After enjoying Sessions' early support on the campaign trail, Trump turned against his AG in March 2017 after he recused himself from a probe into Russia's interference in the 2016 election. Since Sessions stepped aside, Trump has frequently railed against his attorney general in public.
"I don't have an attorney general. It's very sad," Trump said during a scathing interview with Hill.TV in September. The president previously said he would not have named Sessions to head the Justice Department had he known the AG would recuse himself from the Russia probe.
Sessions' job security has long been in question. At a post-election press conference earlier on Wednesday, Trump had declined to answer a question about Sessions' future in his administration.
“I’d rather answer that at a little bit different time," Trump had said.
In a tweet on Wednesday afternoon, Trump said Sessions' chief of staff Matthew Whitaker will step in as acting attorney general.
"We thank Attorney General Jeff Sessions for his service, and wish him well! A permanent replacement will be named at a later date," Trump said.
In a formal letter to Trump, Sessions noted that he was submitting his resignation at the president's request. He said he was proud that he and Trump "restored and upheld the rule of law" during his time in office.
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
