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Trump Looks to Cut Another $1 Billion in Funding From Harvard University as School Builds War Chest

US President Donald Trump attends the annual White House Easter Egg Roll, on the South Lawn of the White House in Washington, DC, April 21, 2025. Photo: REUTERS/Leah Millis
The Trump administration may confiscate another $1 billion in federal funds previously appropriated to Harvard University over its allegedly breaching the confidentiality of negotiations on quelling campus antisemitism and reducing the institution’s left-wing bias, the Wall Street Journal reported on Sunday.
The move would intensify what has become a fight over the future of elite higher education, against which conservatives have lodged a slew of criticisms for decades. Their moment to take action has now arrived with the second term of US President Donald Trump, which coincides with a precipitous drop in public support for academia caused by an explosion of pro-Hamas demonstrations on campuses and the promotion of views which many Americans perceive as anti-meritocratic, anti-Western, and racist.
Earlier this month, the administration impounded $2.26 billion in Harvard’s federal funds over the institution’s refusal to agree to a wishlist of policy reforms that Republican lawmakers have long argued will make higher education more meritocratic and less welcoming to anti-Zionists and far-left extremists. Contained in a letter the administration sent to Harvard interim president Alan Garber — who subsequently released it to the public — the policies called for “viewpoint diversity in hiring and admissions,” the “discontinuation of [diversity, equity, and inclusion, or DEI, initiatives],” and “reducing forms of governance bloat.” They also implore Harvard to begin “reforming programs with egregious records of antisemitism” and to recalibrate its approach to “student discipline.”
More cuts may be forthcoming, the Journal reported, due to the Trump administration’s fury over Garber’s decision to publicize the letter, which was intended to be a private discussion between it and Harvard. Administration officials were reportedly planning to treat the university “more leniently” than other schools from which it has already confiscated billions before the policy list was released.
Harvard, however, has denied that it ever agreed to keep its correspondence with the multi-agency Task Force to Combat Anti-Semitism confidential. Meanwhile, the Trump administration believes “the school aimed to fight the entire time” and that it must now respond with more punitive measures to demonstrate its resolve to see a conflict with Harvard through to the end.
The administration is already taking action against the school in other ways. On Friday, the Department of Education announced that it is investigating Harvard’s foreign contributors, citing as cause the university’s alleged numerous failures to provide annual disclosures of gifts exceeding $250,000 as is required by the Higher Education Act of 1965.
“As a recipient of federal funding, Harvard University must be transparent about its relations with foreign sources and governments. Unfortunately, our review indicated that Harvard has not been fully transparent or complete in its disclosures, which is both unacceptable and unlawful,” US Secretary of Education Linda McMahon said in a statement. “This records request is the Trump administration’s first step to ensure that Harvard is not being manipulated by, or doing the bidding of, foreign entities, which includes actors who are hostile to the interests of the United States and American studies.”
She added, “We hope Harvard will respect its own motto and be truthful in its federal filings and foreign relationships.”
Harvard University has been cheered by progressives and criticized by conservatives over its refusal to enact the reforms proposed by the Trump administration.
Former US President Barack Obama lauded Garber for “rejecting an unlawful and ham-handed attempt to stifle academic freedom,” and former Harvard president Larry Summers, speaking to The Harvard Crimson, said that the school should spend down its $53.2 billion endowment fund to offset the federal government’s cuts.
Others, however, such as pro-Israel activist Shabbos Kestenbaum, expressed more opprobrious views of Harvard, accusing it of “fighting Trump harder than it ever fought antisemitism.” Christopher Rufo, a conservative author and resident scholar of the Manhattan Institute, said Trump “has every right to withhold funding” due to the university’s embrace of the DEI movement and holding of segregated graduation ceremonies.
Harvard’s so-called “resistance” is backed by its immense wealth, and the school has been drawing on its vast financial resources to build a war chest for withstanding Trump’s budget cuts since March, when it issued over $450 million in bonds as “part of ongoing contingency planning for a range of financial circumstances.” Another $750 million in bonds was offered to investors in April, according to The Harvard Crimson, a sale that is being managed by Goldman Sachs and Morgan Stanley.
A generous subsidy protects Harvard from paying exorbitant interest on the new debt, as investors can sell most bonds issued by educational institutions without being required to pay federal income tax. Other universities have resorted to borrowing as well, issuing what was reportedly a record $12.4 billion municipal bonds, some of which are taxable, during the first quarter of 2025. Among those which chose to take on debt are Northwestern University, which was defunded to the tune of $790 million on April 8. It issued $500 million in bonds in March. Princeton University, recently dispossessed of $210 in federal grants, is preparing an offering of $320 million, according to Forbes.
The strategy cannot be maintained indefinitely, Middle East expert and president of Scholars for Peace in the Middle East Asaf Romirowsky told The Algemeiner on Monday, noting that Harvard’s first bond offering fell short of its target by $15 million. He said that it is best, and cheaper, for Harvard, as well as other Ivy League institutions, to address the campus antisemitism crisis and “wokeness” on terms to which they and Trump can agree.
“Harvard and other elite colleges seem to feel that Trump is out to hurt them, but the fact of the matter is that they have refused to be introspective in assessing the quality of the product they produce,” Romirowsky explained. “It behooves everybody to find some kind of middle of the road if we are going to change and reform the institutions and give them time to clean themselves up.”
He continued, “Will Harvard survive? Of course, but it needs to reckon with the quality and caliber of its students and faculty, who are so ideologically disconnected from reality.”
Follow Dion J. Pierre @DionJPierre.
The post Trump Looks to Cut Another $1 Billion in Funding From Harvard University as School Builds War Chest first appeared on Algemeiner.com.
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Terrorist Responsible for Death of 21 Soldiers Eliminated

An Israeli F-35I “Adir” fighter jet. Photo: IDF
i24 News – Khalil Abd al-Nasser Mohammed Khatib, the terrorist who commanded the terrorist cell that killed 21 soldiers in the southern Gaza Strip on January 22, 2024, was killed by an Israeli airstrike, the IDF said on Sunday.
In a joint operation between the military and the Shin Bet security agency, the terrorist was spotted in a reconnaissance mission. The troops called up an aircraft to target him, and he was eliminated.
Khatib planned and took part in many other terrorist plots against Israeli soldiers.
i24NEWS’ Hebrew channel interviewed Dor Almog, the sole survivor of the mass casualty disaster, who was informed on live TV about the death of the commander responsible for the killing his brothers-in-arms.
“I was sure this day would come – I was a soldier and I know what happens at the end,” said Almog. “The IDF will do everything to bring back the abductees and to topple Hamas, to the last one man.”
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Stanley Fischer, Former Fed Vice Chair and Bank of Israel Chief, Dies at 81

FILE PHOTO: Vice Chair of the U.S. Federal Reserve System Stanley Fischer arrives to hear Governor of the Bank of England Mark Carney delivering the Michel Camdessus Central Banking Lecture at the International Monetary Fund in Washington, U.S., September 18, 2017. Photo: REUTERS/Joshua Roberts/File Photo
Stanley Fischer, who helped shape modern economic theory during a career that included heading the Bank of Israel and serving as vice chair of the US Federal Reserve, has died at the age of 81.
The Bank of Israel said he died on Saturday night but did not give a cause of death. Fischer was born in Zambia and had dual US-Israeli citizenship.
As an academic at the Massachusetts Institute of Technology, Fischer trained many of the people who went on to be top central bankers, including former Federal Reserve Chairman Ben Bernanke as well as Mario Draghi, the former European Central Bank president.
Fischer served as chief economist at the World Bank, and first deputy managing director at the International Monetary Fund during the Asian financial crisis and was then vice chairman at Citigroup from 2002 to 2005.
During an eight-year stint as Israel’s central bank chief from 2005-2013, Fischer helped the country weather the 2008 global financial crisis with minimal economic damage, elevating Israel’s economy on the global stage, while creating a monetary policy committee to decide on interest rates like in other advanced economies.
He was vice chair of the Federal Reserve from 2014 to 2017 and served as a director at Bank Hapoalim in 2020 and 2021.
Current Bank of Israel Governor Amir Yaron praised Fischer’s contribution to the Bank of Israel and to advancing Israel’s economy as “truly significant.”
The soft-spoken Fischer – who played a role in Israel’s economic stabilization plan in 1985 during a period of hyperinflation – was chosen by then Finance Minister Benjamin Netanyahu and Prime Minister Ariel Sharon as central bank chief.
Netanyahu, now prime minister, called Fischer a “great Zionist” for leaving the United States and moving to Israel to take on the top job at Israel’s central bank.
“He was an outstanding economist. In the framework of his role as governor, he greatly contributed to the Israeli economy, especially to the return of stability during the global economic crisis,” Netanyahu said, adding that Stanley – as he was known in Israel – proudly represented Israel and its economy worldwide.
Israeli President Isaac Herzog also paid tribute.
“He played a huge role in strengthening Israel’s economy, its remarkable resilience, and its strong reputation around the world,” Herzog said. “He was a world-class professional, a man of integrity, with a heart of gold. A true lover of peace.”
The post Stanley Fischer, Former Fed Vice Chair and Bank of Israel Chief, Dies at 81 first appeared on Algemeiner.com.
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Saudi Arabia’s Foreign Minister Says Israel Blocking Ramallah Meeting Proof of ‘Extremism’

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan Al-Saud attends a news conference at the Arab Gulf Summit in Riyadh, Saudi Arabia, December 9, 2022. Photo: REUTERS/Ahmed Yosri
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Al-Saud said the Israeli government’s refusal to allow a delegation of Arab ministers to the West Bank showed its “extremism and rejection of peace.”
His statement came during a joint press conference in Amman with counterparts from Jordan, Egypt and Bahrain, after they met as part of an Arab contact group that was going to meet Palestinian President Mahmoud Abbas in Ramallah.
“Israel’s refusal of the committee’s visit to the West Bank embodies and confirms its extremism and refusal of any serious attempts for (a) peaceful pathway… It strengthens our will to double our diplomatic efforts within the international community to face this arrogance,” the Saudi minister said.
On Saturday, Israel said it would not allow a planned meeting on Sunday that would have included ministers from Jordan, Egypt, Saudi Arabia, Qatar and the United Arab Emirates, Palestinian Authority officials said.
Bin Farhan’s visit to the West Bank would have marked the first such visit by a top Saudi official in recent memory.
An Israeli official said the ministers intended to take part in a “provocative meeting” to discuss promoting the establishment of a Palestinian state.
Jordan’s Foreign Minister Ayman Safadi said blocking the trip was another example of how Israel was “killing any chance of a just and comprehensive” Arab-Israeli settlement.
An international conference, co-chaired by France and Saudi Arabia, is due to be held in New York on June 17-20 to discuss the issue of Palestinian statehood.
Egyptian Foreign Minister Badr Abdelatty said the conference would cover security arrangements after a ceasefire in Gaza and reconstruction plans to ensure Palestinians would remain on their land and foil any Israeli plans to evict them.
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