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Incoming Federal Reserve chair Jerome Powell, chosen by U.S. President Donald Trump to keep the recovery humming, appears set to let an expected trillion=dollar tax cut run its course through the economy as weak wage growth and inflation buttress his view that the economy remains underpowered.
Other analysts are starting to see a potential dovish surprise when Powell takes over in February, the tax cuts could kick in, and the Fed stands aside.
The contractor who shut down Donald Trump’s Twitter account has told Reuters he did so by mistake, but says he believes some of the U.S. president’s recent tweets breach the social network’s ban on hate speech.
Bahtiyar Duysak, 28, said he clicked “a few wrong things which I shouldn’t have done” on Nov. 2, his last day at Twitter, causing Trump’s @realDonaldTrump account – which has 44 million followers – to be taken offline for 11 minutes.
The stock market continues to routinely set records, and the 10-year Treasury yield is virtually unchanged after the Fed has increased interest rates four times.
New York Fed President William Dudley has repeatedly warned the Fed would raise rates at a faster clip if financial conditions did not tighten as desired. Read: Fed’s Dudley shows now signs of wavering from support for December interest-rate hike. “All else equal, an easing of financial conditions may warrant a somewhat steeper policy rate path,” Dudley said.
A Louisiana private investigator pleaded guilty on Monday to misusing Donald Trump’s Social Security number in repeated attempts to access the candidate’s federal tax information during the presidential campaign.
Prosecutors said he committed “numerous violations,” including hacking into email and social media accounts of a man at the request of the man’s wife.
For months, Treasury Secretary Steven Mnuchin has said that the Republican tax plan wouldn't add a penny to the national debt, pledging that more than 100 people in his agency were “working around the clock” to calculate how much additional growth would come from the plan.
On Monday, the Treasury Department released the fruit of those efforts: a one-page document asserting that the $1.5 trillion plan would generate more than enough to pay for itself.
Three women, who previously have accused President Trump of sexual misconduct, banded together Monday to call for a congressional investigation into the president – in what could be an opening effort to shift the sexual harassment spotlight from Congress to the White House.
Holvey, Leeds and Crooks are just three of 16 women who participated in a video titled “16 Women and Donald Trump,” which details the allegations against the president.
Donald Trump won the presidency with the backing of working-class and socially conservative white voters on a populist platform of economic nationalism.
While Trump ran as a populist, he has governed as a plutocrat, most recently by endorsing the discredited supply-side theory of taxation that most Republicans still cling to. Trump rejected the Republican Party’s traditional pro-business, pro-trade agenda, and, like Bernie Sanders on the left, appealed to Americans who have been harmed by disruptive technologies and “globalist” policies promoting free trade and migration.
New Jersey Sen. Cory Booker traveled to Alabama to campaign for Democratic Senate nominee Doug Jones on the final weekend before voters go to the polls.
While Booker's known to political insiders in Alabama, Daniels said, this campaign swing for Jones will make him a more familiar figure among rank-and-file voters. We're going to be a player," state Rep. Anthony Daniels, Alabama's first black House minority leader, said after Jones spoke to a Baptist congregation here.
The EU could scrap a divisive scheme that compels member states to accept quotas of refugees, one of the bloc’s most senior leaders will say this week.
He is calling for “stable and long-term financing mechanisms, in place of the existing ad hoc pledging on a much larger scale”, but has stopped short of putting a price tag on future migration policy.
Power has passed to a fourth generation of India’s most influential political dynasty after the election of Rahul Gandhi as the president of the Indian National Congress.
The man derided by political critics as “pappu” – or naive child – faces significant hurdles to lead India, including an ailing Congress party, doubts over his mettle and an opponent who is India’s most formidable prime minister in decades, Narendra Modi. “His first challenge is to revive the Congress network and get the credibility of the party back,” said Nilanjan Mukhopadhyay, an Indian political analyst and author.
Donald Trump won the US presidency with the backing of working-class and socially conservative white voters on a populist platform of economic nationalism.
He was a senior economist for international affairs in Bill Clinton’s White House and has worked for the International Monetary Fund, the Federal Reserve and the World Bank.