Tag: interest rates

…meanwhile…

“In light of the progress on inflation and the balance of risks, at today’s meeting the committee decided to lower the target range for the federal funds rate by ½ percentage point, to 4-¾ % to 5%,” Fed Chair Jerome Powell said Wednesday.

Go Vote – … if you are registered in Minnesota, South Dakota or Virginia, where early voting starts Friday, per Ballotpedia. 

•••

About North Carolina – Democratic gubernatorial candidate Josh Stein, North Carolina’s attorney general, has been well ahead of the Republican candidate, Lt. Gov. Mark Robinson in the polls for quite some time, leading some pundits to argue the key swing states in the presidential election are Pennsylvania-Georgia-North Carolina and not Pennsylvania-Michigan-Wisconsin. 

Now comes an investigative scoop by CNN’s KFile that Robinson, whom ex-President Trump has called “Martin Luther King on steroids” called himself a “black NAZI” on a pornography website, “Nude Africa,” between 2008 and 2012. Robinson also has expressed support for restoring some form of slavery to the US. According to the thoroughly researched report, Robinson often used the pseudonym “minisoldr” “all over the internet,” including the pornography website. CNN says the gubernatorial candidate, a strict cultural Christian conservative regarding LGBTQ+ issues “liked to watch transgender pornography.”

The sober anti-Trump argument is that Trump’s popularity among his faithful is never jarred by other candidates that lose badly in their campaigns – think 2022 Republican candidate for senator from Georgia, Herschel Walker. The flip side of the argument is that North Carolina Republicans will avoid the polls November 5, so they won’t be there to vote for Trump, either. The Bulwark’s Marc A. Caputo argues that Republican North Carolinians avoiding the polls because of Robinson will be enough for Vice President Harris to win the state, and thus the Electoral College.

Of course, that still leaves Pennsylvania and Georgia.

What do you think?... Will Robinson’s scandal be enough to sink Trump’s chances? Is it really Pennsylvania-Georgia-North Carolina, or Pennsylvania-Michigan-Wisconsin? Leave your comments in the left- or right-column, or here, or email editors@thehustings.news.

--TL

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THURSDAY 9/19/24

Haitian Leader; 'We Can Do Better' – These words by Haitian community leader Viles Dorsainvil about the made-up stories by Donald J. Trump and JD Vance about neighbors' pets in Springfield, Ohio, to Leila Fadel on NPR’s Morning Edition Thursday bear repeating …

“I would say to them that they think that they are leaders. Leaders have to have the behavior of a leader. Through the rhetoric that they are putting out … please, before they say anything, try to check the veracity of it. … Stop dividing a community or a nation. Stop dividing the country that all of us love. We can do better. We can keep moving forward together with words of unity and encouragement. We are here to work. We are here to contribute to boost up the economy. Words matter.” 

Trump and Vance have put people “in a very difficult situation in the past week,” he added.

At a rally in Raleigh, North Carolina Wednesday, vice presidential candidate and senator from Ohio JD Vance said that Vice President Harris’ “blanket immunity” giving Haitian refugees temporary legal status in the US is not legal, and suggested that Trump will deport them if he wins in November.

•••

Not Truckin’ for Harris – The International Brotherhood of Teamsters, known for a long time as the union for long-haul truck drivers but now including an Amazon Division, has declined to endorse Democratic presidential candidate Kamala Harris (per Newsweek). The Teamsters have declined to endorse Republican presidential candidate Donald J. Trump as well, though it has released internal poll results from July 24 to September 15 that show Trump leads Harris 59.6% to 34% among its rank & file. Its April 19-July 3 poll showed President Biden leading Trump, 44.3% to 36.3%.

“The Teamsters carry a lot of weight,” Trump told Fox News Wednesday. “The Democrats cannot believe … it was always automatic that Democrats get the Teamsters, and they said we won’t endorse the Democrats this year, so that was an honor for me.”

For the record, the last Republican candidate the Teamsters endorsed was George H.W. Bush in 1988. The union backed Bill Clinton in 1992, did not endorse anyone in 1996 then backed every Democratic candidate – including Hilary Clinton in 2016 and Biden in 2020 – until now.

•••

Johnson’s CR Fails – Slings and arrows for Speaker Mike Johnson (R-LA) from both sides of the House aisle after his continuing resolution to fund the government six months past September 30 was defeated, as was widely predicted, 220-202 Wednesday. 

Johnson “succeeded in spending a week dividing his party and leveraging his already miniscule leverage with the Senate,” said Punchbowl News. The House and the Senate have targeted Friday, September 27 as the deadline to leave for home, which means they no doubt will have to work that weekend to prevent a federal government partial shutdown on the following Monday.

Three Democrats voted for the bill, which contained the redundant SAVE Act rider that would require voters in federal elections to be US citizens, but 14 Republicans voted against it, Roll Call reports. 

No matter which party takes the House majority after the November 5 election, it’s a good bet that Johnson will not be speaker for the 119th Congress next January.

--TL

Fed Lowers Interest Rate by ½%

WEDNESDAY 9/18/24

UPDATE -- The Federal Reserve's Open Market Committee (FOMC) has cut its target interest rate by ½% to the 4¾% to 5% range, while reiterating it continues to seek a 2% Consumer Price Index "over the long run." The August CPI was 2.5%, fueled by lower energy prices.

"The Committee has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance," the FOMC said in its press release. It said it also "will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities."

It’s Rate Cut Day! – The Federal Reserve will announce an interest rate cut by late this afternoon. The question everyone has been waiting to have answered is “by how much?” A quarter point or a half point? 

•••

No Question – Speaker Mike Johnson’s (R-LA) short-term funding bill, with SAVE Act attached will not pass the House when introduced Wednesday. The SAVE Act would redundantly require proof of US citizenship for voter registration.

The question now is, what will Johnson do next? Punchbowl News reports; the Speaker has been so cagey about his plans that even his Republican allies have no idea. The hope of Republicans and Democrats is, the next continuing resolution, which must pass both chambers before the end of September to avoid a federal government shutdown, will extend funding until after next January 20th’s presidential inauguration.

•••

Florida Charges – Gov. Ron DeSantis has launched a state investigation into an apparent assassination attempt on ex-President Trump at his Florida golf course near Mar-a-Lago. DeSantis, who you might remember challenged Trump for the Republican presidential nomination early this year, raised the possibility the state of Florida could charge suspect Ryan Routh with attempted murder, according to Politico.

Routh faces Justice Department charges of possession of a firearm by a convicted felon, and possession of a firearm with an obliterated serial number, though the DOJ is expected to issue further charges against him.

--Compiled and edited by Todd Lassa

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COMMENTS: editors@thehustings.news
WEDNESDAY 9/17/24

…meanwhile…

Federal Reserve interest rate cut, here we come. The US economy added just 142,000 jobs in August according to the Labor Department, with the biggest gains in construction and health care, as the unemployment rate inched down by 0.1 points to 4.2%. The Fed, whose chairman Jerome Powell, recently said “we do not seek or welcome further cooling” of the economy, is expected to lower interest rates later this month. [Chart: Bureau of Labor Statistics]

FRIDAY 9/6/24

Trump Sentencing After Election -- New York Judge Juan Merchan has delayed sentencing of Republican presidential candidate Donald J. Trump for his conviction of falsified business records -- the "hush money case" -- to November 12, one week after the presidential election (per NPR's All Things Considered). The sentencing hearing was to be held September 18, eight days after the Harris-Trump debate on ABC TV.

This represents a double-edged sword for Trump, whose attorneys asked for the delay and yet could have grown his popularity over having to campaign from jail or while under probation. It's was a damned if you do/don't proposition for Merchan, who would have been accused of election interference with a jail sentence or probation ahead of the election, and is still accused of such with a sentencing date (hopefully) after we know who has won and before Trump or Vice President Harris will take the White House.

•••

Arlington Altercation Update – NPR’s Morning Edition has identified Trump campaign officials accused by an Arlington National Cemetery employee of shoving or pushing her aside when she tried to prevent the campaign from filming the ex-president’s appearance there with Gold Star families. The two involved in the altercation are Justin Caporale, deputy campaign manager, and Michael Picard, a member of Trump’s advance team, a source has told NPR.

Trump this week insisted on his Truth Social website the incident did not happen even after the campaign posted video of the event with families of soldiers killed at the Abby Gate of Kabul International Airport during the Biden administration’s chaotic withdrawal from Afghanistan. 

The Army in a rare rebuke issued a statement that the Trump campaign violated cemetery rules and federal law by taking photos and video at Section 60, where soldiers who served in Afghanistan and Iraq are buried. The cemetery employee who says she was shoved in the incident reportedly does not want to press charges for fear of retaliation by Trump supporters.

•••

Is it the Stupid Economy? – Donald J. Trump did not fare much better at the Economic Club of New York, where he was to reveal his “big policy agenda” for the nation’s finances, according to New York.

The magazine’s Intelligencer called the speech before the Trump-friendly group “a bomb of a speech a day after Kamala Harris unveiled a major tax-policy proposal and a pledge to support 25 million new small businesses.” 

“We delivered an economic miracle that Kamala and Joe turned into an economic disaster,” Trump said.

The single bit of news, according to Intelligencer is that Tesla/X/SpaceX chief Elon Musk has agreed to lead a commission on government fraud and abuse for a second Trump administration. The Government Accountability Office estimates such fraud and abuse totals more than half a trillion dollars a year, the magazine notes, and the plan to put Musk in the driver’s seat would save “trillions” of dollars over an unspecified period, Trump told the Economic Club. 

Note…Trump’s plan is “similar to the GAO’s Biden-era approach for rooting it out,” Intelligencer reports. Also notable is that Musk, who has said he’d take the role for zero compensation, has over the years fought federal probes ranging from his comments about Tesla stock to the automaker’s self-driving technology. 

At the Democratic National Convention, United Auto Workers President Shawn Fain announced his union had filed a National Labor Relations board complaint against Musk and Trump over their comments regarding Musk’s alleged worker intimidation at Tesla.

•••
 
President’s Son Pleads Guilty – Hunter Biden entered a surprise guilty plea in Los Angeles Thursday over federal tax charges, to avoid a trial that was expected to reveal details about past business deals. Prosecutors were expected to argue “he spent freely” on illicit drugs and escorts while neglecting tax obligations, says The Wall Street Journal. Speaking with reporters on Air Force One Thursday, White House press secretary Karine Jean-Pierre repeated President Biden’s pledge he would not use his clemency powers to pardon his son, or commute potential sentences. 
--TL

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THURSDAY 9/5/24

Trump’s Town Hall with Hannity – It was no debate, as originally proposed for Fox News September 17 to have been moderated by Martha McCollum and Brett Baier. Instead, the hour-long “town hall-style” interview (conversation?) with Sean Hannity was a taped and edited interview with ex-President Trump, held in Harrisburg, Pennsylvania. The editing left in Trump’s argument that a Harris presidency would lead to another Great Depression and illegal immigrants would be eating up Social Security and Medicaid. 

There was no mention of Hannibal Lecter or electric boats v. sharks, though there were high school-style nicknames like “Comrade Kamala” (with accent on the second syllable of Harris’ name) and projection of Democratic vice-presidential candidate Tim Walz’s high school criticism of the Trump/Vance ticket.

“There’s something weird about that guy,” Trump said of Walz. “I’m solid as a rock.”

Oh, the Orbánity… Trump began the interview quoting Hungary’s authoritarian prime minister, Viktor Orbán, “Bring Trump back and we won’t have these problems.”

We do it all for you… Apparently an issue on Fox News and perhaps other conservative news outlets is they can find no evidence Vice President Kamala Harris ever worked at a McDonald’s fast-food restaurant, an issue Hannity raised Wednesday night.

•••

Cheney to Vote for Harris – Former Rep. Liz Cheney (R-WY), who lost her seat after voting to impeach then-President Trump over the January 6 attack on the US Capitol said at an event at Duke University Wednesday she will vote for the Democratic presidential ticket. 

“Because of the danger that Donald Trump poses, not only am I not voting for Donald Trump, but I will be voting for Kamala Harris,” she said (per The New York Times). She went on; “I don’t believe we have the luxury of writing in candidates’ names, particularly in swing states.”

•••

Economy v. Economy – Goldman Sachs, the second-largest investment bank in the world according to Wikipedia, says US economic growth would get a bigger boost from a Harris presidency than with a Trump presidency. 

Why? Mostly the return of Trump tariffs and more strict immigration policies, the bank said in a release late Tuesday (per Reuters).

Job growth also would be greater under a Democratic sweep – meaning, House and Senate (unlikely) as well as White House. New spending and expanded middle-income tax credits would “slightly more than offset” the lower investment that higher corporate taxes would cause. 

“We estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse,” Goldman Sachs said, which would result in an 0.5% decline in GDP in the second half of 2025 that would abate in 2026.

•••

Headline Redux – Wednesday’s tragic school shooting in Winder, Georgia, where two students and two teachers were killed has activated The Onion’s boilerplate headline, “No Way to Prevent This’ Says Only Nation Where this Regularly Happens.”

--TL

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Campaign Season Notes – Republican presidential nominee Donald J. Trump tapes a “town-hall-style” event in Harrisburg, Pennsylvania, with Sean Hannity of Fox News set for broadcast at 9 pm Wednesday night. …

Meanwhile, Democratic presidential nominee Kamala Harris is in North Hampton, New Hampshire to tout her small business plan, which includes a tenfold tax credit for new businesses, from $5,000 currently to $50,000 (NPR). She hopes to cull a record 25 million new small business applications over four years of a presidential term. …

The youngest son of the late Arizona Republican Sen. John McCain, Army 1st Lt. Jimmy McCain has changed his registration from independent to Democratic and says he will vote for Harris/Walz in November. He made the announcement in a press release and on social media Tuesday. McCain also expressed “outrage” over the Trump video altercation at Arlington National Cemetary, calling it a “violation” and a “painful experience.” …

George Conway, the conservative attorney, Trump critic and ex-husband of Kellyanne Conway last July launched the Anti-Psychotic PAC with plans to spend more than $100,000 on anti-Trump ads. Conway has launched the PAC’s first 60-second ad featuring clips of Republicans bashing Trump.

--TL

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Russia Strikes Central Ukraine – At least 41 were killed and more than 180 injured by two Russian ballistic missiles in a strike on Poltava Tuesday, an otherwise quiet city in central Ukraine, according to NPR. The strike prompted Ukrainian President Volodymyr Zelenskyy to call for more Western air defenses and to allow his country to strike deeper into Russian territory with long-range missiles, The Guardian reports.

“We keep telling everyone in the world who has the power to stop this terror: Air defense systems and missiles are needed for Ukraine, not in a warehouse somewhere,” Zelenskyy said.

•••

Netanyahu Remains Defiant After Protests – In retrospect, it was inevitable that the latest round of ceasefire talks with Israel over its war on Gaza and Hamas would stall. This time, it was over Prime Minister Benjamin Netanyahu’s intransigence in giving up Israeli control of Philadelphi, a narrow strip of land along Gaza’s border with Egypt that Netanyahu’s government says Hamas uses to smuggle weapons into Gaza and which Egypt and Hamas deny.

Even after Israeli protesters took to the streets of Tel Aviv by the “hundreds of thousands” last weekend according to The Associated Press, to protest the killing of six Israeli hostages, demanding a ceasefire deal and immediate release of hostages, Netanyahu pushed back, saying “No one will preach to me.”

The UK Tuesday, led by its first liberal leader in 14 years Tuesday morning said it is suspending certain arm sales to Israel, NPR’s Morning Edition reports, though it will have little effect on Israel’s military capability, as the US and Germany are its two biggest arm suppliers. 

•••

U.S. Steel should remain domestically owned, Vice President Kamala Harris said in Pittsburgh in her first joint campaign rally with President Biden, the AP reports. Harris and Biden opposition to the $14 billion sale of U.S. Steel to Nippon Steel of Japan is echoed by Harris’ opponent in the presidential race, former President Donald J. Trump.

“U.S. Steel should remain American-owned and American-operated, and I will always have the backs of America’s steelworkers,” Harris said at a Labor Day rally before cheering union members.

--Compiled and edited by Todd Lassa

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COMMENTS: editors@thehustings.news

…meanwhile…

(SCOTUS upholds Indian Child Welfare Act. Please scroll down center column.)

Blinken Meet Xi – In an effort to stem a deteriorating relationship with the U.S., Secretary of State Antony Blinken met with President Xi Jingping in Beijing Monday near the end of a three-day diplomatic summit to China. Blinken said Chinese officials agreed to work on stabilizing U.S.-Chinese relations, according to NPR. The secretary of state also discussed the war in Ukraine (China is a Russian ally) and the flow of fentanyl from China to the U.S. 

•••

Ukraine Pushes East – Ukraine says its counteroffensive against the Russian invasion is making modest gains in the east. “Our defense forces have captured more than 400 units of enemy equipment and weapons,” Ukrainian Deputy Defense Minister Hanna Maliar wrote on Telegram Monday. More than 80 Russian troops have been captured, she said (Newsweek).

•••

Up on the Hill – The full Senate and House are off for the Juneteenth holiday Monday. Both will be in session Tuesday through Friday.

•••

Coming Tuesday – Read “Most Liberal County in Conservative States” in the left column and “Most Conservative County in Liberal States” in the right column. Both features are part of our new collaboration with Stacker.

--TL

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FRIDAY 6/16/23

Alleged Pentagon Leaker Indicted – Air National Guard member Jack Douglas Teixeira was charged with six counts of “willful retention and transmission of classified information related to national defense” Thursday in the alleged leaking of more than 100 sensitive materials, including records about the Russian invasion of Ukraine (per USA Today). The 21-year-old from North Dighton, Massachusetts was arrested in April and remains in federal custody. 

•••

Indian Child Welfare Act Upheld – The Supreme Court rejected, 7-2, a challenge to the constitutionality of a 1978 federal law with the unfortunate title; the Indian Child Welfare Act, which was written to keep Native American children with Native American families (per SCOTUSblog). The ICWA was enacted after a congressional investigation discovered that from the 1950s through the ‘70s more than one-third of all Native American children in the U.S. had been removed, some forcibly, and placed with non-Native families and institutions with no ties to their tribes, NPR explains. 

This might count as the second SCOTUS surprise in a week. Last week, the Supremes struck down a Republican-drawn 2022 congressional district map in Alabama, 5-4.

Justices Clarence Thomas and Samuel Alito were the only two dissents this week in Haaland v. Brackeen, with Donald J. Trump’s three appointees, including Justice Amy Coney Barrett, who wrote the majority opinion, joining the four Democratic presidential appointees to the court. Their decision says Congress had the power to enact the law, and rejected arguments that the law violates the 10th Amendment’s “anti-commandeering doctrine” barring the federal government from requiring states to adapt federal law,” SCOTUSblog explains. The court declined to reach a decision on two other claims, arguing that individuals and the state of Texas do not have standing in the case.

--TL

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THURSDAY 6/15/23

Fed Holds Interest Rates – After 10 consecutive increases, the Federal Reserve is holding its benchmark interest rate unchanged, Chairman Jerome Powell (above) said Wednesday. The Labor Department reported that May’s annual inflation rate fell to 4.0%, though that’s still twice the Fed’s 2% target rate, and so the Fed signaled the hold on interest rate increases will be temporary, The Wall Street Journal reports. New economic projections released after the Fed’s two-day policy meeting “strongly suggested” the Fed will ramp down the rate increases, which generally have been in the quarter-point increase rate, through the rest of the year. 

After Wednesday’s meeting, the Fed “implied” that holding the benchmark rate at 5-5.25% “might be short-lived,” according to the WSJ.

•••

Another Chip in Trump’s GOP Support? – Donald J. Trump’s support on Capitol Hill generally comes from the House side, its rabidly pro-MAGA Freedom Caucus members in particular. But 20 House Republicans joined Democrats in sinking a resolution to censure Rep. Adam Schiff (D-CA), according to The Hill. 

As chairman of the House Intelligence Committee during the Trump administration, Schiff led the first impeachment investigation of Trump. In May, Rep. Anna Paulina Luna (R-FL), acolyte of the former president, introduced the censure measure against Schiff. On Wednesday, Luna brought the measure to the floor as a privileged resolution. 

But the House tabled Luna’s measure Wednesday by 225-196-7 vote. Twenty of those “aye” votes to table were Republicans. Five Democrats and two Republicans voted “present.”

--TL

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Another Trump Arraignment

Wednesday 6/14/23

Donald J. Trump’s Simpsonian perp drive, by giant-SUV motorcade, from Mar-a-Lago, past a gaggle of apparently well-behaved pro- and anti-Trump protestors to the Wilkie E. Ferguson Jr. Courthouse in Miami culminated in an hour-long arraignment in which the former president reportedly sat expressionless in a courtroom as Special Counsel Jack Smith looked on. 

Do we need to mention that Trump pleaded not guilty?

Trump attorney Allina Habba gave a brief press conference outside the courthouse during the arraignment, calling “President Donald J. Trump … defiant,” and said the indictment is “about the destruction of longstanding principles that have set this country apart…”

Habba said Justice Department prosecutors “do not love America … they hate Donald Trump.”

As he and his entourage proceeded from the courthouse to the airport for a flight to his Bedminster, New Jersey country club for a fundraiser, Trump dropped in a Cuban sandwich restaurant and answered a muffled question from the crowd saying, “I think it’s going great,” according to ABC News. It was not apparent what the ex-prez thought was going great, though considering the circumstances his life is not so bad. 

Federal Magistrate Judge Jonathan Goodman did not set a monetary bail, nor did he make Trump give up his U.S. passport. And when the trial begins, the judge will not be Goodman, but rather Judge Aileen Cannon, the post-2020 election-loss Trump appointee to the federal district court in Florida who temporarily put the brakes on the Justice Department’s investigation of documents found at Mar-a-Lago by ordering a “special master” to sift through them. In the face of Special Counsel Smith’s promise of a speedy trial, Cannon could help Trump’s legal team – whoever that will consist of – drag out the trial. Perhaps well past the November 2024 presidential election, when any of a number of Trump’s rivals for the GOP nomination have promised to pardon him.

Later Tuesday evening in a speech at his country club in Bedminster, Trump finally explained why he kept boxes of classified, highly classified and top secret documents (per MSNBC).

“Those boxes were containing all types of presidential belongings,” he said, such as shirts and shoes. “I didn’t have time to go through these boxes. I’ve had a busy life. A very, very, busy life.”

--Compiled and edited by Todd Lassa

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COMMENTS: editors@thehustings.news

…meanwhile…

CPI Falls to 4.0% -- The Consumer Price Index fell to an annual rate of 4.0% in May, down from 4.9% in April, the Labor Department reported Tuesday. Prices were up 0.1% on a monthly basis, with highest increase for shelter, followed by used cars and trucks, according to the department’s Bureau of Labor Statistics.

Food prices were up 6.7% on an annual level, offset in part by an 11.7% drop in energy prices. The CPI for all items less food and energy was +5.3% in May.

Most economists believe the Federal Reserve, which holds its latest regular meeting Tuesday through Thursday will forego an interest rate increase for the first time in about two years. 

•••

Truce for McCarthy and Freedom Caucus – Last week’s disagreement between Speaker Kevin McCarthy (R-CA) and “conservatives” dominated by the Freedom Caucus, which clogged up legislation in the House is over for now, Roll Call reports. “Members of the rebel bloc made it clear” Monday “it may not be the end of trouble” for McCarthy. 

There were even whispers last week of the possibility of a motion to vacate, in which one representative can call for a vote that would recall the speaker. The brouhaha stemmed from Freedom Caucus members who objected to what they saw as a debt ceiling deal favoring President Biden. Last week, the hard-right bloc blocked votes on bills otherwise favorable to them, including one that would prevent regulation or banning of gas stoves. 

Trouble ahead: The MAGA/Freedom Caucus bloc reopened the House floor to action this week in exchange for renegotiating the “power-sharing” agreement they worked out with McCarthy to give him the speaker’s gavel, Rep. Matt Gaetz (R-FL) told reporters Monday. Short of unspecified “progress” Gaetz said, “perhaps we’ll be back here next week.”

Why the quote marks?: We put “conservatives” in quotes, above, because we presume most, if not all, 222 House Republicans consider themselves leaning right. The Freedom Caucus currently counts 46 members, a bit more than one-tenth the size of the House membership.

--Compiled and edited by Todd Lassa

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COMMENTS: editors@thehustings.news

…meanwhile…

(TUE 9/20/22)

Mortgage Rates Hit 6% -- The Federal Reserve Open Market Committee is expected to raise interest rates by 75 basis points (0.75%), when it meets Tuesday and Wednesday, Punchbowl News reports. The Fed has been imposing big increases in the interest rate since inflation hit 40-year record highs, and Chairman Jerome Powell (pictured above) will likely signal more big increases until inflation comes down significantly from its current 8.3% annual rate. The mortgage rate is running at 6% for the first time since the inauspicious year 2008. 

Note: Warnings of a coming recession among some economists (and most Republicans, looking to save their prospects in the midterms) are offset by other economists (and the Biden White House) who point to record-low unemployment and high job growth. The economic anomaly is that we’re still suffering the ravages of the COVID-19 pandemic (despite Biden’s claim on 60 Minutes that it’s over) as well as the effects of the cutoff of Russian oil to Europe, where Germany and the United Kingdom in particular, are suffering higher inflation rates and face almost certain recession and a cold winter. 

This is not to downplay the economic suffering of the American working- and middle-classes, but if Vladimir Putin has had any personal success in his brutal attack on Ukraine, it’s that he has hijacked potential economic recovery in the West following shutdowns from the pandemic. 

•••

Texas Sheriff Investigates DeSantis’ Flights – Bexar County, Texas Sheriff Javier Salazar (D) has opened an investigation into Florida Gov. Ron DeSantis’ (R) political stunt he played out on Fox News in which 50 Venezuelan migrants were flown from San Antonio to Martha’s Vineyard in Massachusetts last week. The migrants had turned them in to U.S. Border Patrol after crossing from Mexico and were granted “temporary protected status,” and Salazar is looking into whether they were “lured from the Migrant Resource Center” under “false promises” for work and assistance, according to The Washington Post.

--Edited by Todd Lassa

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This Week in NYC and DC (MON 9/19/22)

(United Nations HQ, New York City)

The White House – Joe and Jill Biden attended Queen Elizabeth II’s funeral in London Monday as the United States had a chance to react to the president’s comments on CBS News’ 60 Minutes Sunday night that U.S. troops would defend Taiwan if China conducted an “unprecedented attack.” 

“So unlike Ukraine, to be clear, sir, U.S. forces, U.S. men and women would defend Taiwan in the case of a Chinese invasion?” 60 Minutes’ Scott Pelley asked.

“Yes,” Biden replied.

Chinese spokesman Liu Pengyu said in a series of tweets that Biden’s remarks “sends wrong signals to Taiwan independence’ separatist forces, and severely jeopardizes China-U.S. relations and peace and stability across the Taiwan Strait,” CBS News reports. 

Biden also told Pelley that he hasn’t decided whether to run for re-election in 2024, and said that he was not briefed about the top-secret documents found at Donald J. Trump’s Mar-a-Lago, nor was he aware of the FBI’s search warrant ahead of time.

•••

This Week – The United Nations 77th General Assembly begins Monday at its New York City headquarters, the first in-person meeting since 2019. President Biden is expected to give his speech Wednesday on the war in Ukraine and on climate change, a day later than the U.S. president’s usual place on the schedule, because of his attendance at Queen Elizabeth II’s funeral.

The House of Representatives and Senate are in-session Monday through Thursday; the Senate only is in session on Friday.

--Edited by Todd Lassa

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...meanwhile... (FRI-SUN 9/16-18/22)

(Judge Cannon)

Judge Picks Dearie -- This all seems to have gone to Donald J. Trump’s plans, with a federal judge he appointed after losing the 2020 election refusing to allow the Justice Department to review documents seized from his Mar-a-Lago home August 8 until a special master requested – demanded – by the ex-president’s attorneys has examined them first. That special master appointed by Judge Aileen Cannon Thursday, senior New York Federal Judge Raymond Dearie, was proposed by Trump’s attorneys and deemed acceptable by the Justice Department. 

The Justice Department is not allowed to use the sensitive documents in its investigation while Dearie reviews them and is expected to appeal Cannon’s ruling before the U.S. Court of Appeals for the 11th District, in Atlanta, The Washington Post reports. 

DOJ had argued that the special master should not be allowed to review the classified documents seized, but Cannon in her ruling said that it is a “matter of dispute” whether the documents marked classified are, in fact, classified. Trump’s attorneys have suggested that the documents may not be classified, but have not asserted that Trump personally declassified them, WaPo says. Trump also has not given any indication why he kept the papers.

Timing is key: Cannon has given Dearie to November 30 to complete his review, which pushes the case well into next year, when the GOP hopes to have majorities in both chambers of Congress and can begin some counter-investigations of its own. By then, too, Trump may very well have announced his bid for the 2024 Republican presidential nomination and will continue to accuse the DOJ under the Biden White House of conducting yet another “witch hunt.”

ICYMT1/6CD (In Case You Missed This 1/6 Committee Development): Ex-President Trump’s ultimate chief of staff, Mark Meadows, has agreed to comply with a subpoena from the House Select Committee to Investigate the January 6th Attack on the Capitol.

--Todd Lassa

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COMMENTS: editors@thehustings.news