The Evening Brief: Courts block Trump twice; Fed raises rate odds; Nepal toll climbs to 675

Authority is being tested on multiple fronts in real time. Federal judges blocked the Trump administration's mail-in voting rule for the second time and struck down its policy threatening to deport noncitizen students for protected speech on Israel, both on constitutional grounds. The Fed chair signaled inflation remains a concern, shifting markets from one-third odds on a September rate hike to 60 percent. A glacier collapse in Nepal killed at least 675 people with over 2,400 missing and hundreds trapped. King Harald V of Norway died after 35 years on the throne, succeeded by his son amid declining public confidence in the monarchy. And a White House staffer was fined $172,000 for using advance knowledge of Trump speeches to bet on prediction markets.

The mail-ballot rule, which would have mandated specific envelope standards and required voter registration through a federal USPS portal before states could send ballots, was frozen by U.S. District Judge Indira Talwani in a 14-day temporary restraining order. The Justice Department appealed to the 1st Circuit within 24 hours. This marks the second judicial block of the same rule: Talwani initially blocked it in July as proposed; the Supreme Court ruled that block premature, giving the Trump administration a temporary win; after USPS issued the final rule last week, the judge blocked it again, and the appeal is now underway with the midterm election weeks away.

U.S. District Judge Noël Wise ruled that the Trump administration violated the First and Fifth Amendments by threatening to deport noncitizen students for protected speech criticizing Israel or supporting Palestinians. The suit was brought by The Stanford Daily after noncitizen reporters said they had self-censored over deportation fears. The 90-page opinion blocks visa revocation as retaliation for protected speech, though the ruling's scope and whether it applies nationwide remain open.

Fed Chair Kevin Warsh told Jackson Hole on August 28 that inflation is running above the Fed's 2 percent target and "there is still work to do." He said he is not ruling out raising interest rates but has not committed to one. Warsh noted that the labor market looks stable, which makes elevated prices "more concerning," and that summer inflation readings, while better than expected, do not show that underlying trends have meaningfully improved. Before his speech, investors were pricing in about one-third odds on a September rate hike; after it, that probability moved to about 60 percent. Warsh also reiterated his preference for a "quieter Fed," moving away from forward guidance that he said can blind policymakers to new developments.

The glacier collapse on the Nepal-Tibet border on Wednesday unleashed catastrophic flooding and landslides. The U.S. Geological Survey confirmed the cause was a glacial collapse, with the impact registering magnitude 5.2 and sending debris 62 miles downstream. At least 675 people are confirmed dead in Nepal with over 2,400 missing as of Saturday; China reports 7 deaths and 554 missing in Tibet. Rescue teams have pulled more than 7,500 people to safety, but mountainous terrain and deteriorating weather continue to hamper operations. Officials warn of a barrier lake holding 2.5 million cubic meters of water that poses secondary flooding risk.

King Harald V of Norway died on August 28 at age 89 after 35 years on the throne. His son, Crown Prince Haakon, 53, has become King Haakon VIII. The succession occurs as public support for the monarchy has fallen to 54 percent, down from 72 percent in 2024. The new king will be formally sworn in before parliament on Tuesday and participate in a consecration service in the coming weeks.

Gabriel Perez, a White House teleprompter operator since 2016, was ordered by the Commodity Futures Trading Commission to pay $172,000 for using non-public information about Trump's speeches to place bets on prediction markets. Perez made approximately $107,500 in profit on trades placed between December 2025 and February 2026 on what words and phrases would appear in Trump's speeches. The order requires him to surrender profits and pay a $65,000 civil penalty, and bans him from trading on prediction markets for three years. Kalshi's surveillance systems detected the unusual trading activity in March and froze his account.

On separate matters, President Trump announced Friday that the U.S. had entered an agreement with Venezuela to take majority control of more than 65 billion barrels of the country's proven oil reserves, with Secretary of State Marco Rubio saying the deal will bring nearly $100 billion in private investment. A U.S. official told CBS News that the U.S. government will retain 55 percent control of a joint venture with a private operator, and Venezuela granted the venture a 100-year concession. However, the official text of the agreement has not been released, and the legal and constitutional standing of the arrangement in Venezuela remains unclear. Trump also signed an executive order Friday to establish a U.S. Space Academy to train personnel for the Space Force, NASA, and the civilian space industry. A White House commission led by NASA Administrator Jared Isaacman has 120 days to propose the academy's leadership structure and curriculum, with Trump to choose a location "very shortly." Senator Ted Cruz is lobbying for the academy to be located in Texas.

Military Judge Lt. Col. Michael Schrama ruled Friday that Khalid Sheikh Mohammed's 2007 statements to investigators were involuntary and inadmissible in the 9/11 case, removing a centerpiece of evidence from the prosecution's case. Schrama set a trial date of June 2028 for Mohammed and three co-defendants, rejecting prosecutors' request for a January 2027 start. Walmart agreed to pay $50 million to settle allegations it illegally filled thousands of invalid opioid and controlled substance prescriptions since June 2013, with the government alleging that Walmart's compliance team knew certain prescribers were operating as "pill mills" but filled invalid prescriptions anyway. British national Milo Yiannopoulos was arrested by ICE on August 27 at New Orleans airport after failing to appear for an immigration hearing on July 22 and overstaying his lawful status; an immigration judge issued a final order of removal against him, and he remains in ICE custody pending removal. Six months have passed since the U.S. and Israel launched strikes on Iran, far longer than President Trump said the conflict would last, with the death toll and damaged infrastructure continuing to mount.