3 Stories You Should Read 6/12/2019: Don Trump Jr., California Dems, Jerome Powell
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In the category of: Really? Are you sure???
Donald Trump Jr. testifying before Senate panel behind closed doors, says he has ‘nothing to correct’
Donald Trump Jr. said Wednesday that he had “nothing to correct” in his testimony as he arrived for a return interview with the Senate Intelligence Committee.
The President’s eldest son is appearing for a second time behind closed doors before the panel, which issued a subpoena for Trump Jr.’s testimony after he resisted coming voluntarily.
The subpoena to Trump Jr. — the first issued to a member of the President’s family — prompted a sharp backlash from GOP allies of Trump Jr. against Senate Intelligence Chairman Richard Burr, a North Carolina Republican, including from President Donald Trump.
Burr has declined to comment on his decision to subpoena Trump Jr. since it was revealed last month, but the committee did not back down in response to the criticism that his committee needed to speak to Trump Jr. again. Ultimately, the panel struck a deal with Trump Jr. for him to testify for two-to-four hours on roughly a half-dozen topics.
In the category of: Just because you aren’t in prison doesn’t mean you’re free
After being released from prison, those who were once incarcerated often experience tremendous difficulty getting re-acclimated to society, but if Democratic lawmakers get their way, California citizens still being punished for mistakes from their past will be able to get a new lease on life.
The Associated Press reports that after moving to automatically expunge marijuana convictions in California that date all the way back to 1975, the next plan of attack is to erase the criminal records of other qualifying convictions.
In the category of: The one place the President has zero authority
President Trump really wants the Federal Reserve to cut interest rates. He’s repeatedly accused the central bank of holding back economic growth and undermining his trade war with China. After the Fed paused its rate increases in January, Trump demanded rate cuts, and threatened to put at least two forthright cronies on the Fed board. Just this Monday, Trump went on CNBC and attacked the central bank again: “They certainly didn’t listen to me because they made a big mistake. They raised interest rates far too fast.”
The markets seem to think Trump will get what he wants. They’re currently pricing in a 70 percent chance the Fed will reduce interest rates in July, and a 60 percent chance they’ll cut three times in 2019. On the economic merits, the Fed would certainly be justified in doing so.
Yet the Federal Reserve may hold back. And if they do, it will most likely be because Trump decided to open his big mouth.
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