President Donald Trump bitterly attacked Federal Reserve Chairman Jerome Powell for refusing to cut interest rates during an interview with Fox Business’s Maria Bartiromo.
When asked about the state of the economy, Trump claimed that the economy is doing terrific but he said that Powell should nonetheless aggressively pump money into the economy via rate cuts.
“We should have [European Central Bank President Mario] Draghi instead of our Fed person!” the president said. “We have a man who doesn’t do anything for us!”
Bartiromo then noted that Powell has made a point of preserving the Federal Reserve’s political independence by refusing to obey the president’s orders to lower rates, but Trump replied that Powell should just do what he’s told.
“Here’s a guy — nobody ever heard of him before [his appointment to the Federal Reserve],” Trump said. “I made him! He wants to show how tough he is! Let him show how tough he is, he’s not doing a good job!”
In fact, Powell has a long history of working for the government, including a stint as Under Secretary of the Treasury for Domestic Finance under President George H. W. Bush, and has served on the Federal Reserve Board of Governors since 2012.
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Fatal drug overdoses drop in US for first time in decades
Fatal drug overdoses in the US declined by 5.1 percent in 2018, according to preliminary official data released Wednesday, the first drop in two decades.
The trend was driven by a steep decline in deaths linked to prescription painkillers.
"The latest provisional data on overdose deaths show that America's united efforts to curb opioid use disorder and addiction are working," Health and Human Services Secretary Alex Azar said, though he cautioned the epidemic would not be cured overnight.
The total number of estimated deaths dropped to 68,557 in 2018 against 72,224 the year before, according to the figures released by the Centers for Disease Control and Prevention (CDC).
Judge blocks effort to conceal details in Trump campaign crimes case as Bill Barr’s DOJ mysteriously closes the probe
A federal judge confirmed on Wednesday that the Justice Department has ended its investigation into campaign finance crimes committed by former Trump lawyer Michael Cohen, indicating that no one else will face charges in the case. But Judge William Pauley also announced that, over the government’s objections, he will be making many of the underlying documents in the case public without requested redactions.
The case stemmed from Cohen’s efforts during the 2016 campaign to secure hush money payments for two women who said they had affairs with Donald Trump. Since investigators determined these payments were done in order to help secure Trump’s victory, the spending counted as campaign contributions that were never recorded and were, in fact, illegally concealed. The Trump Organization, Cohen has said, helped repay him for the costs of the hush money while disguising the payment falsely as a legal retainer.
Rand Paul just blocked the 9/11 victim fund because it isn’t paid for — but didn’t care when it was a $1.5 trillion tax cut
Sen. Rand Paul (R-KY) blocked a call for unanimous consent on Wednesday to push forward with a funding extension for the victims of 9/11, claiming that the new spending should be paid for.
Sen. Kirsten Gillibrand (D-NY) called for the bill to be passed in the Senate by unanimous consent, but even a single lawmaker’s objection can block the move and slow down the process. The measure is still widely expected to pass, but Paul wants to use the opportunity to complain about the national debt.
“We need to address our massive debt in this country,” he said “We have a $22 trillion debt. We’re adding debt at about a trillion dollars a year. And therefore any new spending that we are approaching, any new program that’s going to have the longevity of 70-80 years, should be offset by cutting spending that’s less valuable. We need to at least have this debate.”