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His entry has raised concerns over the Fed's independence, following Trump's bid to reshape the central bank.
Administrators say they are hopeful the chain's remaining 85 stores can be saved.
Rising prices, partly driven by tariffs, could worsen a divide in the US economy between the haves and the have-nots.
The US president urges regulators to adopt a semi-annual schedule for financial reports.
The purchases, the billionaire's first since 2020, boost his investment in the firm.