Two members in President Donald Trump's Cabinet - Transportation Secretary Elaine Chao and Education Secretary Betsy DeVos - have joined a number of administration officials resigning in protest against the infamous attack on U.S. Capitol by his supporters.
In a statement addressed to her colleagues in the agency, Chao wrote that she was "deeply troubled" by the "entirely avoidable" events at the Capitol building. Chao, who is the first Asian American woman to become U.S. cabinet member, promised to help Joe Biden's Transportation Secretary nominee Pete Buttigieg to take over the department. Her resignation will be effective Monday.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.