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Trump attacks US Fed, demands rate cut

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President Donald Trump attacked the independent US Federal Reserve on Friday, demanding the central bank reverse course and cut interest rates — something it is widely expected to do this month.

In another Twitter outburst, Trump called on the Fed to “Correct!” its overreach.

“We are in a World competition, & winning big,… but it is no thanks to the Federal Reserve,” he said.

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“Had they not acted so fast and ‘so much,’ we would be doing even better than we are doing right now. This is our chance to build unparalleled wealth and success for the U.S., GROWTH… Don’t blow it!”

The US central bank raised the benchmark borrowing rate four times last year but seems almost certain to pull back with the first cut in a decade at its policy meeting July 30-31.

Recent comments from Fed officials seemed to confirm the signal that policymakers are prepared to act to sustain US growth in the face of a slowing global economy and persistent trade tensions with China.

“You don’t need to wait until things get so bad to have a dramatic series of rate cuts,” Fed Vice Chairman Richard Clarida told Fox Business Network on Thursday.

That comment echoed a statement earlier Thursday from John Williams, the influential vice chairman of the Fed’s policy committee, who talked about the need to vaccinate when rates are very low.

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“When you only have so much stimulus at your disposal, it pays to act quickly to lower rates at the first sign of economic distress,” said Williams, who is president of the New York Federal Reserve Bank.

Following Williams’ remarks, the New York Fed told media outlets the speech concerned decades of research and was not about what the central bank may decide at its next policy meeting.

Trump said Friday he liked Williams “first statement much better than his second. His first statement is 100% correct in that the Fed ‘raised’ far too fast & too early.”

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The New York Fed had no comment on Trump’s tweets, which were only the latest in long series of attacks which have flaunted the recent tradition of protecting the independence of the central bank.

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Fox News reporter and right-wing conspiracy theorists planned to wiretap family of slain DNC staffer Seth Rich: report

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The Daily Beast on Monday evening broke a bombshell report on a secret 2017 meeting in Texas on a right-wing conspiracy theory where espionage was discussed.

"One of their topics was responding to online critics of wealthy Texas businessman Ed Butowsky, who had recently been outed as a driving force behind a retracted Fox News story about murdered Democratic National Committee staffer Seth Rich," The Beast reported. "The group that gathered at Butowsky’s home included a conspiracy theorist, a Fox reporter fighting for her career, a former private intelligence contractor married to star journalist Lara Logan, and a Democratic PR operative who lost his business in the face of sexual assault allegations."

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Maddow breaks down potential ‘direct financial connection’ between the Russian government and Donald Trump

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MSNBC anchor Rachel Maddow read bombshell excerpts from a new book set for release on Tuesday.

The host interviewed David Enrich, finance editor at The New York Times, about his forthcoming book Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction.

The host of "The Rachel Maddow Show" read excerpts from the book.

"There was no doubt that Deutsche Bank had extensive business dealings with Russia, and those dealings included acting as a conduit for dirty money to get out of Russia and into the western financial system," Enrich wrote.

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Congress still has one big tool left to rein in Trump’s corruption: Oversight Committee Democrat

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Senate Republicans may have managed to quash the impeachment trial without calling forth any new witnesses or seriously considering the evidence against President Donald Trump. And the president may feel vindicated and largely invulnerable as a result.

But, Rep. Raja Krishnamoorthi (D-IL) told CNN's Anderson Cooper on Monday, that doesn't mean Democrats don't have one last big play to rein in the president's abuses of power. They can use the first and strongest authority delegated to them: the power of the purse.

"What can Democrats really do when it comes to oversight of the president?" asked Cooper. "I mean, now that impeachment is over, does seem like there are fewer and fewer guardrails, if any."

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