The US and China have reached a framework for an agreement to transfer TikTok to US-controlled ownership, with final confirmation expected during a call between US President Donald Trump and President Xi Jinping of China. Details of the deal remain unclear, but it is aimed at addressing US national security concerns while preserving TikTok's cultural elements, US Treasury Secretary Scott Bessent said.

President Donald Trump filed a $15 billion defamation lawsuit against The New York Times and four of its reporters regarding the Times' coverage of his 2024 campaign and against Penguin Random House over a book about Trump's business career. The lawsuit, filed in the US District Court for the Middle District of Florida, alleges that the defendants sought to damage Trump's reputation as a businessperson and hurt his campaign. A.G. Sulzberger, the Times' publisher, said the lawsuit is frivolous, and a Penguin Random House spokesperson said it is meritless.

New York Judge Gregory Carro threw out state terrorism counts against Luigi Mangione but allowed second-degree murder charges against Mangione to stand in the case regarding the slaying of UnitedHealthcare CEO Brian Thompson. Mangione "was clearly expressing an animus" toward the company and the health care industry, but "it does not follow that his goal was to 'intimidate and coerce a civilian population,' and indeed, there was no evidence presented of such a goal," Carro wrote.

Attorney General Pam Bondi followed up on her comments in a Monday podcast in which she said the Justice Department "will absolutely target you, go after you, if you are targeting anyone with hate speech." Bondi said she was referring only to speech that unlawfully incites violence, adding in a social media post: "Hate speech that crosses the line into threats of violence is NOT protected by the First Amendment. It's a crime." Also on Monday, Bondi indicated the department might prosecute Office Depot workers in Michigan based on allegations that they refused to print posters for a vigil for slain conservative influencer Charlie Kirk.

A panel of the US Court of Appeals for the District of Columbia Circuit held that President Donald Trump cannot dismiss Federal Reserve Governor Lisa Cook before the Federal Open Market Committee meeting, allowing her to participate in the two-day event. Trump is attempting to fire Cook over allegations of mortgage fraud, which she denies, but the court upheld a lower ruling preventing her removal while her lawsuit against Trump proceeds.

The Senate has confirmed Stephen Miran, a top economic adviser to President Donald Trump, to the Federal Reserve's board in a 48-47 vote along party lines. Miran has said he will keep his role as chair of the White House Council of Economic Advisers while serving on the Fed, raising concerns about the central bank's independence.

US banks tapped the Federal Reserve's Standing Repo Facility for $1.5 billion on Monday, a sign of some minor funding pressure. The borrowing occurred as quarterly corporate tax payments and Treasury debt settlements were due, and analysts said they expect the liquidity pressure to be temporary. The secured overnight financing rate sat at 4.42% to end last week, slightly above the interest on reserve balances.

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Former federal prosecutor Maurene Comey filed a lawsuit alleging that her firing from the Justice Department was unconstitutional and unlawful and came "without cause, without advance notice, and without any opportunity to contest it." Comey was involved in high-profile criminal cases such as those against rapper and executive Sean "Diddy" Combs and disgraced financier Jeffrey Epstein. She is the daughter of former FBI Director James Comey.