President-elect Joe Biden announced that retired four-star General Lloyd J. Austin III will be nominated to serve as the new U.S. Secretary of Defense.
With a distinguished record of military service spanning four decades, Secretary-designate Austin is a deeply experienced and highly decorated commander who has served with distinction in several of the Pentagon's most crucial positions. If confirmed, he will become the first African American ever to hold the position.
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Political News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.