Category: News Daypop

Former President Donald Trump and the Trump Organization have sued New York Attorney General Letitia James to ask a federal court to halt or limit her office’s ongoing investigations.  The lawsuit from Trump comes on the heels of James’ office seeking to depose Trump as part of its civil fraud investigation into the Trump Organization, also seeks to enjoin James’ involvement in any civil or criminal actions against the former President or his company.  James’ office is investigating whether the Trump Organization manipulated the value of its properties, and is also working with Manhattan District Attorney Cy Vance’s office on a parallel criminal investigation into the Trump Organization. The two investigations are separate, but some attorneys from James’ office have been designated to work on the criminal investigation, which is ongoing.

Filed in federal court in Northern New York on Monday, the lawsuit accuses James of misconduct, claiming she has abused her investigatory powers to target her political adversaries and advance her career.  The suit states: “Since taking office, she has tirelessly bombarded him, his family and his business, Trump Organization LLC, with unwarranted subpoenas in a bitter crusade to ‘take on’ the President.”   The suit also accuses James of “relentlessly pushing” Vance’s office into a criminal investigation of the Trump Organization. A spokesman for Vance’s office declined to comment.

James responded to the suit in a statement Monday, saying the Trump Organization has repeatedly attempted to delay her office’s investigation into its business dealings. James said in a statement:  “To be clear, neither Mr. Trump nor the Trump Organization get to dictate if and where they will answer for their actions. Our investigation will continue undeterred because no one is above the law, not even someone with the name Trump.”

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The stock market took a hit on Monday as investors began the trading week with fears of the surging Omicron COVID-19 variant and the setback to President Biden’s Build Back Better social spending bill. The blue-chip Dow Jones Industrial Average closed down by about 433 points at the end of trading Monday afternoon, while the broader S&P 500 dropped 1.14%. The Nasdaq Composite sagged 1.24%.

Travel, entertainment and retail stocks had some of the greatest losses earlier in the day but bounced back some by closing. The energy sector also took a significant hit as U.S. crude oil prices tumbled 3% to below $69 per barrel as investors worried that new restrictions might cut into energy demand. The sell-off came after the World Health Organization said Omicron cases are doubling every 1.5 to 3 days in countries where transmissions are documented. European leaders reacted by imposing new restrictions on Friday and over the weekend.

Analysts blamed some of Monday’s market downturn on Sen. Joe Manchin’s surprise announcement Sunday that he would not support President Joe Biden’s $2 trillion Build Back Better social spending agenda. The measure, with its billion of dollars in economic stimulus spending, is unlikely to pass the Senate.

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Democratic Senator Joe Manchin of West Virginia said Sunday he can no longer support President Biden’s Build Back Better Act. Manchin told ‘Fox News Sunday’ that concerns over inflation, the national debt and the COVID-19 pandemic forced his decision, saying “I cannot vote to continue with this piece of legislation. I just can’t. I’ve tried everything humanly possible. I can’t get there. This is a no on this piece of legislation. I have tried everything I know to do.   In a lengthy statement reiterating those concerns, Manchin said Democrats in Washington “are determined to dramatically reshape our society in a way that leaves our country even more vulnerable to the threats we face.”

In response, White House press secretary Jen Psaki issued a statement early Sunday afternoon, disputing the senator’s public comments.  Psaki said Manchin’s remarks on Fox “are at odds with his discussions this week with the President, with White House staff, and with his own public utterances,” adding, “Weeks ago, Senator Manchin committed to the President, at his home in Wilmington, to support the Build Back Better framework that the President then subsequently announced. Senator Manchin pledged repeatedly to negotiate on finalizing that framework ‘in good faith.’  Just as Senator Manchin reversed his position on Build Back Better this morning, we will continue to press him to see if he will reverse his position yet again, to honor his prior commitments and be true to his word. The fight for Build Back Better is too important to give up. We will find a way to move forward next year.”

As written and proposed, the Build Back Better plan would pass through special Senate budgetary rebukes requiring a simple majority vote. Manchin, a moderate Democrat, has pushed for bipartisan cooperation in everything the chamber does since he arrived in the Senate in late 2010. In his statement Sunday, Manchin said he will “continue working with my colleagues on both sides of the aisle to address the needs of all Americans and do so in a way that does not risk our nation’s independence, security and way of life.”

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Democratic Senators Elizabeth Warren and Cory Booker said on Sunday that they had tested positive for COVID-19. Warren and Booker were both on the Senate floor last week for several key votes, including authorizing the Pentagon’s budget for 2022 and increasing the debt limit, which will prevent the U.S. from defaulting on its bills.

Warren tweeted that she tests regularly for COVID-19; she tested negative last week, however, then tested positive on Sunday.  Warren said: “Thankfully, I am only experiencing mild symptoms & am grateful for the protection provided against serious illness that comes from being vaccinated & boosted.”

Booker shared in a statement that he had experienced mild symptoms on Saturday, and he learned he tested positive on Sunday.  Booker said: “Fortunately, my symptoms are relatively mild. I’m beyond grateful to have received two doses of vaccine and, more recently, a booster — I’m certain that without them I would be doing much worse. I encourage everyone who is eligible to get vaccinated and boosted.”

The two senators are among the thousands across the country that have tested positive amid a nationwide surge in COVID-19 cases due to the fast-spreading Omicron variant. The U.S. reported more than 80,000 cases and 250 additional deaths in the past 24 hours.  President Biden is expected to address Americans on Tuesday about the surge of the Omicron variant.

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An advisory panel to the Centers for Disease Control and Prevention said Thursday that people shouldn’t get the Johnson & Johnson Covid-19 vaccine when the Pfizer-BioNTech and Moderna shots are available.  The Advisory Committee on Immunization Practices convened following an update from the Food and Drug Administration on the risk of rare but potentially life-threatening blood clots linked to the Johnson & Johnson vaccine. At least 54 people in the United States — mainly women — have been hospitalized from these blood clots, and nine people have died.

The Advisory Committee on Immunization Practices panel voted unanimously in favor of deeming the mRNA vaccines, from Pfizer and Moderna, the “preferred” options for adults over the Johnson & Johnson vaccine, ultimately concluding that the mRNA vaccines provided greater protection and fewer risks than Johnson & Johnson’s. The recommendation would not prohibit use of the Johnson & Johnson shot, but instead make clear that the other options are a better choice if they are available.  CDC Director Dr. Rochelle Walensky will need to sign off on the recommendation.

Johnson & Johnson’s vaccine is linked to a blood clotting condition known as thrombosis with thrombocytopenia syndrome, or TTS.  Johnson & Johnson uses an adenovirus technology to train the immune system to fight the coronavirus, whereas the shots developed by Pfizer-BioNTech and Moderna use a different approach, mRNA, to train the immune system, and have not been linked to these clots.

The Biden administration is urging all eligible Americans to get a booster amid the threat of the omicron variant. Initial data suggests three shots of the mRNA vaccines provide adequate protection against the new strain. In the U.S., the Pfizer and Moderna vaccines are readily available. More than 570 million doses of Pfizer and Moderna have been delivered to providers, whereas only 28 million doses of Johnson & Johnson have been delivered.

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On Thursday, President Joe Biden signed a bill to raise the U.S. debt ceiling by $2.5 trillion after Senate Democrats and Republicans hammered out a deal this week to avoid a filibuster. The Senate passed the extension by a party-line vote of 50-49 on Tuesday, and the House approved the measure 221-209.

Treasury Secretary Janet Yellen had warned Congress that defaulting on the national debt could have had catastrophic consequences for the U.S. economy. The United States has never defaulted on its debt obligations. Failing to reach an agreement would have stopped payments that millions of Americans rely on, including paychecks to federal workers, Medicare benefits and military salaries.

The debt ceiling increase covers all necessary funding until 2023, meaning the issue won’t need to be addressed again until after the 2022 midterm elections.

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On Wednesday, President Joe Biden traveled to Kentucky to survey damage from last week’s deadly tornadoes and offer federal support for the victims. More than 30 tornadoes tore through Kentucky and four other states over the weekend, killing at least 88 people — 74 of them in Kentucky — and leaving many others still unaccounted for. The storms demolished homes and downed power lines as temperatures dropped below freezing in Kentucky earlier this week.

Biden visited Fort Campbell for a storm briefing and Mayfield and Dawson Springs to survey the damage. Biden said during his remarks: “The scope and scale of this destruction is almost beyond belief. These tornadoes devoured everything in their path.” Biden also authorized the government to cover 100% of the state’s costs for the first 30 days for all emergency work and services related to the devastation in Kentucky. Biden said four FEMA search and rescue teams were working in Kentucky, and the agency has provided critical supplies including 61 generators, drinking water, housing and meals.

The president also signed two federal disaster declarations for Kentucky over the weekend, providing federal aid for search and rescue and cleanup operations, as well as aid for temporary housing and to help individuals and businesses recover.

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The Federal Reserve decided Wednesday to maintain the existing federal funds rate of between zero and 0.25% amid rising inflation. The Federal Reserve also forecasted three interest rate hikes next year, followed by further increases in 2023 and 2024. A statement on the decision reads: “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.”

The Federal Reserve’s Federal Open Market Committee (FOMC) announced it would slowly begin curtailing the monthly pace of its net asset purchases by $20 billion for Treasury securities and $10 billion for agency mortgage-backed securities, anticipating “similar reductions in the pace of net asset purchases will likely be appropriate each month, but it is prepared to adjust the pace of purchases if warranted by changes in the economic outlook.”

The FOMC acknowledged positive job gains in recent months and declining unemployment rate. But it also added that “supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.”

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Washington, D.C., Attorney General Karl A. Racine announced on Tuesday that his office is suing two far-right groups over their involvement in the Jan. 6 attack on the U.S. Capitol. Racine’s office is suing both the ​​Proud Boys and Oath Keepers over the attack, alleging both groups were responsible for the violence that left one Capitol Police officer dead.

Racine is seeking millions of dollars in damages from the two groups, alleging both conspired to send members to the city on that day. The lawsuit was filed in federal court in Washington, D.C.  Said Racine on Twitter : “Today, we’re holding these insurrectionists accountable for conspiring to terrorize the District by planning, promoting, and participating in the deadly attack on the Capitol. I’m seeking damages in this case and will keep working to ensure such an assault never happens again.”

Racine said the money outlined in the lawsuit would go toward paying for the costs associated with the event, including medical expenses for the more than 140 officers who were injured during the attack, some of whom required extensive medical leave. It would also help cover costs incurred by the Metropolitan Police Department in responding to the attack.

The Justice Department has already filed criminal charges against a number of people who were at the attack. The new lawsuit also accuses both groups of training members and providing them with weapons and tactical equipment ahead of the rally.

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The Senate voted on Tuesday to raise the national debt limit by $2.5 trillion and extend it into 2023.  The House will next have to approve the legislation before it can be sent to President Joe Biden to be signed into law. The final tally for the Senate vote, which fell along party lines, was 50 to 49.

Lawmakers raced to avert a catastrophic default ahead of a critical midweek deadline. Treasury Secretary Janet Yellen has warned that the debt limit could be reached on December 15, leaving Congress little time left to resolve the issue. A first-ever default would spark economic disaster and party leaders on both sides of the aisle have made clear it must be prevented.

It had been expected that Democrats would raise the limit by an amount sufficient to ensure that the issue will not need to be addressed again until after the 2022 midterm elections. Senate Majority Leader Chuck Schumer said earlier on Tuesday that the Senate would vote to raise the debt ceiling to a level that will extend the limit into 2023. The newly created and temporary one-time process that lawmakers approved allowed Senate Democrats to take up and pass a bill to increase the debt limit by a specific dollar amount and a simple majority vote.

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