Trump Administration Pursues Space Academy and Venezuelan Oil Stakes

Donald Trump has initiated the creation of a US Space Academy to support both civilian and military space missions. On the international front, the United States government is in talks with Venezuela to acquire a large stake in the country's oil fields, while Chevron Corp. negotiates to expand its own operations there.

Domestically, the administration is appealing a court order that blocked new US Postal Service restrictions on mail-in ballots. The administration is also facing a lawsuit from California regarding a deal with Golden State Wind to cancel an offshore wind project lease.

In economic developments, Federal Reserve Chairman Kevin Warsh addressed inflation during a speech in Jackson Hole, Wyoming. Warsh stated that the central bank has "work to do" if inflation does not move toward its 2% target.