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| Supreme court allows Trump to use $2.5bn in Pentagon funds on border wall – live | Supreme court allows Trump to use $2.5bn in Pentagon funds on border wall – live |
| (32 minutes later) | |
| The president is celebrating the supreme court’s decision to allow him to spend $2.5bn on the border wall: | |
| Wow! Big VICTORY on the Wall. The United States Supreme Court overturns lower court injunction, allows Southern Border Wall to proceed. Big WIN for Border Security and the Rule of Law! | |
| Immigrant rights’ groups had argued that the spending would be unlawful, cruel and a waste of money: | |
| This wall won't make anyone any more secure. It's a futile exercise to massage your ego, and advance your racist agenda.We should be spending this $2.5bn of our tax payers money on housing for homeless people, mental health for veterans, and healthcare for those who are unwell. | |
| The American Civil Liberties Union had argued in court that the Trump administration “lacks authority to spend taxpayer funds on a wall that Congress considered and denied”. | |
| Judge Haywood S Gilliam Jr of US district court in Oakland had previously blocked the effort. Gilliam wrote: | |
| The case is not about whether the challenged border barrier construction plan is wise or unwise. It is not about whether the plan is the right or wrong policy response to existing conditions at the southern border of the United States. Instead, this case presents strict legal questions regarding whether the proposed plan for funding border barrier construction exceeds the executive branch’s lawful authority.” | |
| Some more background on the case and Trump’s funding proposal, via the AP: | |
| The case the Supreme Court ruled on began after the 35-day partial government shutdown that started in December of last year. Trump ended the shutdown in February after Congress gave him approximately $1.4 billion in border wall funding. But the amount was far less than the $5.7 billion he was seeking, and Trump then declared a national emergency to take cash from other government accounts to use to construct sections of wall. | |
| The money Trump identified includes $3.6 billion from military construction funds, $2.5 billion in Defense Department money and $600 million from the Treasury Department’s asset forfeiture fund. | |
| The case before the Supreme Court involved just the $2.5 billion in Defense Department funds, which the administration says will be used to construct more than 100 miles of fencing. One project would replace 46 miles of barrier in New Mexico for $789 million. Another would replace 63 miles in Arizona for $646 million. The other two projects in California and Arizona are smaller. | |
| The Supreme Court has said the Trump administration can spend $2.5bn in Pentagon funds on the border wall: | The Supreme Court has said the Trump administration can spend $2.5bn in Pentagon funds on the border wall: |
| JUST IN: Supreme Court allows Trump administration to spend $2.5 billion in Pentagon funds on border wall pic.twitter.com/JVxFusMf41 | JUST IN: Supreme Court allows Trump administration to spend $2.5 billion in Pentagon funds on border wall pic.twitter.com/JVxFusMf41 |
| It was a divided decision, saying the White House could begin using some of the federal funds for border wall construction that had previously been contested: | It was a divided decision, saying the White House could begin using some of the federal funds for border wall construction that had previously been contested: |
| NOW: In a divided decision, the Supreme Court rules the Trump administration can begin using some of the contested federal funds Trump redirected for border wall construction — the court granted the admin's request to stay a lower court injunction https://t.co/SSEU48JLNU pic.twitter.com/DPijozmm8B | NOW: In a divided decision, the Supreme Court rules the Trump administration can begin using some of the contested federal funds Trump redirected for border wall construction — the court granted the admin's request to stay a lower court injunction https://t.co/SSEU48JLNU pic.twitter.com/DPijozmm8B |
| Some more breakdown of the justices’ positions: | Some more breakdown of the justices’ positions: |
| Justices Ginsburg, Sotomayor, and Kagan would have denied the stay and left in place the injunction blocking the admin from using the funds while the case went forward; Breyer would have let the govt finalize contracts, but also blocked construction during the litigation | Justices Ginsburg, Sotomayor, and Kagan would have denied the stay and left in place the injunction blocking the admin from using the funds while the case went forward; Breyer would have let the govt finalize contracts, but also blocked construction during the litigation |
| Here is some additional impeachment commentary from Democratic representatives on the judiciary committee. Veronica Escobar said: | Here is some additional impeachment commentary from Democratic representatives on the judiciary committee. Veronica Escobar said: |
| Yes, we’re crossing a threshold with this filing. And we are now officially entering into an examination of whether or not to recommend the articles of impeachment.” | Yes, we’re crossing a threshold with this filing. And we are now officially entering into an examination of whether or not to recommend the articles of impeachment.” |
| Jamie Raskin: | Jamie Raskin: |
| From my personal point of view, we are in an impeachment inquiry. | From my personal point of view, we are in an impeachment inquiry. |
| Eric Swalwell: | Eric Swalwell: |
| This is an impeachment investigation. | This is an impeachment investigation. |
| More here: | More here: |
| The view from Judiciary Dems:Rep. Veronica Escobar: "Yes, we're crossing a threshold with this filing."Rep. Jamie Raskin: "From my personal point of view, we are in an impeachment inquiry."Rep. Eric Swalwell: "This is an impeachment investigation."https://t.co/c3JX8g0dZb | The view from Judiciary Dems:Rep. Veronica Escobar: "Yes, we're crossing a threshold with this filing."Rep. Jamie Raskin: "From my personal point of view, we are in an impeachment inquiry."Rep. Eric Swalwell: "This is an impeachment investigation."https://t.co/c3JX8g0dZb |
| Donald Trump is now blaming Barack Obama for the air conditioning system in the West Wing, which he said is either “freezing or hot”: | Donald Trump is now blaming Barack Obama for the air conditioning system in the West Wing, which he said is either “freezing or hot”: |
| "The Obama Administration worked out a brand new air conditioning system for the West Wing. And it was so good before they did the system. Now that they did the system it's freezing or hot in here."-- Pres. Trump pic.twitter.com/Hz3oJL2ooU | "The Obama Administration worked out a brand new air conditioning system for the West Wing. And it was so good before they did the system. Now that they did the system it's freezing or hot in here."-- Pres. Trump pic.twitter.com/Hz3oJL2ooU |
| Hello and happy Friday! Sam Levin in Los Angeles here, taking over our coverage for the rest of the day. The president is continuing to threaten to tax French wines, noting that he thinks American wines look better: | Hello and happy Friday! Sam Levin in Los Angeles here, taking over our coverage for the rest of the day. The president is continuing to threaten to tax French wines, noting that he thinks American wines look better: |
| I’ve always liked American wines better than French wines. Even though I don’t drink wine. I just like the way they look. | I’ve always liked American wines better than French wines. Even though I don’t drink wine. I just like the way they look. |
| TRUMP on wine: "I've always liked American wines better than French wines. Even though I don't drink wine. I just like they way they look. Ok? But the American wines are great."The president then threatens to slap tariffs on France. pic.twitter.com/uOmgDWlMVa | TRUMP on wine: "I've always liked American wines better than French wines. Even though I don't drink wine. I just like they way they look. Ok? But the American wines are great."The president then threatens to slap tariffs on France. pic.twitter.com/uOmgDWlMVa |
| A reminder about what the Trump Winery brand has to offer: | A reminder about what the Trump Winery brand has to offer: |
| A review of Trump wine — “Welch’s grape jelly with alcohol. A terrible, fumy, alcoholic nose. If I served you that on an airline you’d be mad.” https://t.co/51H6lJlucq | A review of Trump wine — “Welch’s grape jelly with alcohol. A terrible, fumy, alcoholic nose. If I served you that on an airline you’d be mad.” https://t.co/51H6lJlucq |
| That’s it from me this week. Sam Levin will be taking things over on the West Coast for the next few hours. | That’s it from me this week. Sam Levin will be taking things over on the West Coast for the next few hours. |
| Here’s where things stand so far today. | Here’s where things stand so far today. |
| House Democrats took a step closer to impeachment by filing a petition to gain access to the underlying grand jury material from special counsel Robert Mueller’s investigation. Democrats on the judiciary committee said in their request that they needed the information to determine whether to recommend filing articles of impeachment against Donald Trump. | House Democrats took a step closer to impeachment by filing a petition to gain access to the underlying grand jury material from special counsel Robert Mueller’s investigation. Democrats on the judiciary committee said in their request that they needed the information to determine whether to recommend filing articles of impeachment against Donald Trump. |
| But Nancy Pelosi said in her press conference today that Democrats would only launch impeachment proceedings “when we have the best possible case.” The House speaker emphasized that she was “not trying to run out the clock” on impeachment, but she added, “We will proceed when we have what we need to proceed. Not one day sooner.” | But Nancy Pelosi said in her press conference today that Democrats would only launch impeachment proceedings “when we have the best possible case.” The House speaker emphasized that she was “not trying to run out the clock” on impeachment, but she added, “We will proceed when we have what we need to proceed. Not one day sooner.” |
| The White House announced Guatemala has signed on to the so-called safe third country agreement that could limit asylum applications to the US. Earlier this week, Trump threatened the country with tariffs and a “BAN” if it didn’t agree to the deal. | The White House announced Guatemala has signed on to the so-called safe third country agreement that could limit asylum applications to the US. Earlier this week, Trump threatened the country with tariffs and a “BAN” if it didn’t agree to the deal. |
| US economic growth slowed to 2.1% in the second quarter of 2019, a mediocre showing that Trump blamed on the Federal Reserve. The central bank is meeting next week and is widely expected to cut rates. | US economic growth slowed to 2.1% in the second quarter of 2019, a mediocre showing that Trump blamed on the Federal Reserve. The central bank is meeting next week and is widely expected to cut rates. |
| The justice department decided a major merger between T-Mobile and Sprint can move forward. Critics of the merger fear it could lead to higher prices for consumers and less innovation among wireless carriers. | The justice department decided a major merger between T-Mobile and Sprint can move forward. Critics of the merger fear it could lead to higher prices for consumers and less innovation among wireless carriers. |
| Thanks for following our coverage this week and have a great weekend. | Thanks for following our coverage this week and have a great weekend. |
| Trump said he hoped the asylum agreement with Guatemala would “end widespread abuse of the system and the crippling crisis on our border”, according to the pool report. | Trump said he hoped the asylum agreement with Guatemala would “end widespread abuse of the system and the crippling crisis on our border”, according to the pool report. |
| He was also optimistic that his administration would be able to sign more third country agreements, which he said would help to put “coyotes and the smugglers out of business. These are bad people.” | He was also optimistic that his administration would be able to sign more third country agreements, which he said would help to put “coyotes and the smugglers out of business. These are bad people.” |
| The president added that the agreement would send a message to smugglers: “your day is over.” | The president added that the agreement would send a message to smugglers: “your day is over.” |
| The House judiciary committee has officially filed its petition seeking the underlying grand jury material from special counsel Robert Mueller’s investigation. | The House judiciary committee has officially filed its petition seeking the underlying grand jury material from special counsel Robert Mueller’s investigation. |
| The committee's petition has officially been filed in court and assigned to Chief Judge Beryl Howell, who handles all grand jury matters in federal D.C. court. pic.twitter.com/9psvqfDEbs | The committee's petition has officially been filed in court and assigned to Chief Judge Beryl Howell, who handles all grand jury matters in federal D.C. court. pic.twitter.com/9psvqfDEbs |
| The committee’s chairman, Democrat Jerry Nadler, said at a press conference earlier today that the panel needed the information to reach a decision on whether to recommend impeachment. | The committee’s chairman, Democrat Jerry Nadler, said at a press conference earlier today that the panel needed the information to reach a decision on whether to recommend impeachment. |
| “The House must have access to all the relevant facts and consider whether to exercise its full … powers, including a constitutional power of the utmost gravity: recommendation of articles of impeachment,” Nadler said, reading from the court petition. | “The House must have access to all the relevant facts and consider whether to exercise its full … powers, including a constitutional power of the utmost gravity: recommendation of articles of impeachment,” Nadler said, reading from the court petition. |
| But the top Republican on the panel, Doug Collins, has slammed the move. “Judiciary Democrats are suing for grand jury material to which they have no right,” Collins said in a statement. “Chairman Nadler’s legal action here is sure to fail, weakening Congress’s ability to conduct oversight now and into the future.“ | But the top Republican on the panel, Doug Collins, has slammed the move. “Judiciary Democrats are suing for grand jury material to which they have no right,” Collins said in a statement. “Chairman Nadler’s legal action here is sure to fail, weakening Congress’s ability to conduct oversight now and into the future.“ |
| The White House announced that the US and Guatemala have reached an agreement on limiting asylum applications. The news came three days after Trump threatened Guatemala with tariffs, among other sanctions, if it did not sign on to the so-called safe third country agreement. | The White House announced that the US and Guatemala have reached an agreement on limiting asylum applications. The news came three days after Trump threatened Guatemala with tariffs, among other sanctions, if it did not sign on to the so-called safe third country agreement. |
| HAPPENING NOW: Trump presides over signing of document by a Guatemalan official and the acting DHS Secretary. (pool photo credit: @W7VOA) pic.twitter.com/fEygaSm5Fw | HAPPENING NOW: Trump presides over signing of document by a Guatemalan official and the acting DHS Secretary. (pool photo credit: @W7VOA) pic.twitter.com/fEygaSm5Fw |
| Reuters reports: | Reuters reports: |
| Speaking to reporters at the White House during a signing ceremony, Trump said the agreement would allow easier access to farmer workers for U.S. farms and ranches. | Speaking to reporters at the White House during a signing ceremony, Trump said the agreement would allow easier access to farmer workers for U.S. farms and ranches. |
| Guatemala’s President Jimmy Morales was due to sign a deal with Trump last week that would have made the country act as an asylum buffer zone to reduce immigration to the United States. | Guatemala’s President Jimmy Morales was due to sign a deal with Trump last week that would have made the country act as an asylum buffer zone to reduce immigration to the United States. |
| But the country’s Constitutional Court ruled he could not sign such an agreement without prior approval from Congress, which is on a summer recess. | But the country’s Constitutional Court ruled he could not sign such an agreement without prior approval from Congress, which is on a summer recess. |
| In response, Trump threatened Guatemala in a tweet on Tuesday. ‘Now we are looking at the ‘BAN,’ Tariffs, Remittance Fees, or all of the above. Guatemala has not been good,’ Trump wrote. | In response, Trump threatened Guatemala in a tweet on Tuesday. ‘Now we are looking at the ‘BAN,’ Tariffs, Remittance Fees, or all of the above. Guatemala has not been good,’ Trump wrote. |
| Two Democratic presidential candidates are going after each other on Twitter using ... penguin gifs? | Two Democratic presidential candidates are going after each other on Twitter using ... penguin gifs? |
| It all started when tech entrepreneur Andrew Yang said he would attack Michael Bennet at the next debate for reasons ... that are not entirely clear. | It all started when tech entrepreneur Andrew Yang said he would attack Michael Bennet at the next debate for reasons ... that are not entirely clear. |
| I would like to signal to the press that I will be attacking Michael Bennet at next week’s debate. Sorry @MichaelBennet but you know what you did. | I would like to signal to the press that I will be attacking Michael Bennet at next week’s debate. Sorry @MichaelBennet but you know what you did. |
| The Colorado senator responded by suggesting that Yang’s ire may stem from a poor grade in high school math: | The Colorado senator responded by suggesting that Yang’s ire may stem from a poor grade in high school math: |
| Andrew, how did you know I got a C in precalculus in high school — on the retake. https://t.co/3ZdlC0PnLx | Andrew, how did you know I got a C in precalculus in high school — on the retake. https://t.co/3ZdlC0PnLx |
| It then escalated to the penguin gifs: | It then escalated to the penguin gifs: |
| If I only get 3 minutes of talking time in the next debate I'm still using all of them to attack @MichaelBennet pic.twitter.com/3dCv01AFsm | If I only get 3 minutes of talking time in the next debate I'm still using all of them to attack @MichaelBennet pic.twitter.com/3dCv01AFsm |
| Just confirmed with debate officials that @AndrewYang’s microphone will be muted during my rebuttal. https://t.co/YmR7HvkfRF pic.twitter.com/oT3Pe9shai | Just confirmed with debate officials that @AndrewYang’s microphone will be muted during my rebuttal. https://t.co/YmR7HvkfRF pic.twitter.com/oT3Pe9shai |
| In any event, the CNN moderators at next week’s debate in Detroit probably won’t pay too much attention to the potential drama, given that both Yang and Bennet are polling between about 1 and 3 percent. | In any event, the CNN moderators at next week’s debate in Detroit probably won’t pay too much attention to the potential drama, given that both Yang and Bennet are polling between about 1 and 3 percent. |
| Trump has been hitting on the Federal Reserve again. After today’s meh report on the US economy Trump has called the Fed an “anchor wrapped around our neck,” on Twitter. | Trump has been hitting on the Federal Reserve again. After today’s meh report on the US economy Trump has called the Fed an “anchor wrapped around our neck,” on Twitter. |
| The Fed meets next week and is widely expected to cut rates, just as Trump has repeatedly asked it to do. But if the now 10-year long economic recovery does start to slow, as it appears to be doing, you can expect yet more attacks on the central bank in the months to come. | The Fed meets next week and is widely expected to cut rates, just as Trump has repeatedly asked it to do. But if the now 10-year long economic recovery does start to slow, as it appears to be doing, you can expect yet more attacks on the central bank in the months to come. |
| The creator of that fake presidential seal has a message for the Turning Point USA staffer who caused it to appear behind Trump onstage during the conservative group’s event: “I love them”. | The creator of that fake presidential seal has a message for the Turning Point USA staffer who caused it to appear behind Trump onstage during the conservative group’s event: “I love them”. |
| Charles Leazott, a former Republican and graphic designer, said whoever chose the doctored seal resembling the Russian coat of arms was “either wildly incompetent or the best troll ever. Either way, I love them.” | Charles Leazott, a former Republican and graphic designer, said whoever chose the doctored seal resembling the Russian coat of arms was “either wildly incompetent or the best troll ever. Either way, I love them.” |
| But Leazott, who voted for George W Bush twice, said he didn’t believe Turning Point USA’s claim that the error was the result of an audiovisual aide’s rushed Google search. “You have to look for this,” Leazott told the Washington Post of the seal, which he created as a form of comic protest. “There’s no way this was an accident, is all I’m saying.” | But Leazott, who voted for George W Bush twice, said he didn’t believe Turning Point USA’s claim that the error was the result of an audiovisual aide’s rushed Google search. “You have to look for this,” Leazott told the Washington Post of the seal, which he created as a form of comic protest. “There’s no way this was an accident, is all I’m saying.” |
| Trump is pressing the World Trade Organization to change how it defines developing countries, claiming that the current classification gives China an unfair advantage. | Trump is pressing the World Trade Organization to change how it defines developing countries, claiming that the current classification gives China an unfair advantage. |
| The WTO is BROKEN when the world’s RICHEST countries claim to be developing countries to avoid WTO rules and get special treatment. NO more!!! Today I directed the U.S. Trade Representative to take action so that countries stop CHEATING the system at the expense of the USA! | The WTO is BROKEN when the world’s RICHEST countries claim to be developing countries to avoid WTO rules and get special treatment. NO more!!! Today I directed the U.S. Trade Representative to take action so that countries stop CHEATING the system at the expense of the USA! |
| The president signed a memo today urging his administration to find ways to force the WTO to reconsider its view, the Wall Street Journal reports. | The president signed a memo today urging his administration to find ways to force the WTO to reconsider its view, the Wall Street Journal reports. |
| “When the wealthiest economies claim developing-country status, they harm not only other developed economies but also economies that truly require special and differential treatment,” the memo reads. “China most dramatically illustrates the point.” | “When the wealthiest economies claim developing-country status, they harm not only other developed economies but also economies that truly require special and differential treatment,” the memo reads. “China most dramatically illustrates the point.” |
| But the memo names other countries that Trump thinks should be reevaluated – including Turkey, Mexico and Qatar. | But the memo names other countries that Trump thinks should be reevaluated – including Turkey, Mexico and Qatar. |
| Another House Republican, Martha Roby of Alabama, has decided to retire from the chamber. | Another House Republican, Martha Roby of Alabama, has decided to retire from the chamber. |
| The news comes on the heels of two other Republicans – Pete Olson of Texas and Paul Mitchell of Michigan – announcing their own retirements this week. | The news comes on the heels of two other Republicans – Pete Olson of Texas and Paul Mitchell of Michigan – announcing their own retirements this week. |
| The string of announcements has been music to the ears of Democratic strategists, who say they show that Republicans are fearful of losing their seats next year. Olson’s district has particularly caught the attention of national Democrats, given that he won last year by just 4 points. | The string of announcements has been music to the ears of Democratic strategists, who say they show that Republicans are fearful of losing their seats next year. Olson’s district has particularly caught the attention of national Democrats, given that he won last year by just 4 points. |
| And Roby’s departure also means the House Republican caucus’ number of women members will sink even lower, as a National Journal editor noted: | And Roby’s departure also means the House Republican caucus’ number of women members will sink even lower, as a National Journal editor noted: |
| BY THE NUMBERS: 2 of the 13 House Republican women have already announced retirement (Brooks/Roby). And Cheney may be headed to the Senate. | BY THE NUMBERS: 2 of the 13 House Republican women have already announced retirement (Brooks/Roby). And Cheney may be headed to the Senate. |
| The conservative youth organization Turning Point USA apologized to Trump for having him appear at the group’s event this week in front of a doctored presidential seal. | The conservative youth organization Turning Point USA apologized to Trump for having him appear at the group’s event this week in front of a doctored presidential seal. |
| We want to apologize to @realDonaldTrump for the mishap at our event. Regardless of what the #FakeNews says, it was 100% accidental & our fault, not the White House’s. We’ve taken measures to ensure it won’t happen again. We love our President & his courage to fight for America. | We want to apologize to @realDonaldTrump for the mishap at our event. Regardless of what the #FakeNews says, it was 100% accidental & our fault, not the White House’s. We’ve taken measures to ensure it won’t happen again. We love our President & his courage to fight for America. |
| During the group’s Teen Student Action Summit, Trump stood on stage in front of a presidential seal that had been altered to resemble the Russian coat of arms, with a two-headed eagle clutching a set of golf clubs in its talons. | During the group’s Teen Student Action Summit, Trump stood on stage in front of a presidential seal that had been altered to resemble the Russian coat of arms, with a two-headed eagle clutching a set of golf clubs in its talons. |
| The group has reportedly fired the audiovisual aide responsible for the mistake, which was blamed on a haphazard Google search. | The group has reportedly fired the audiovisual aide responsible for the mistake, which was blamed on a haphazard Google search. |
| Joe Biden’s campaign ribbed Trump after the president complained about a poll showing him losing in a potential match-up against the former vice president. | Joe Biden’s campaign ribbed Trump after the president complained about a poll showing him losing in a potential match-up against the former vice president. |
| Trump initially slammed Fox News for even discussing the network’s latest poll, which found Biden leading Trump by 10 points, 49 percent to 39 percent, in a hypothetical face-off. | Trump initially slammed Fox News for even discussing the network’s latest poll, which found Biden leading Trump by 10 points, 49 percent to 39 percent, in a hypothetical face-off. |
| ....the fact that I have gone through a three year vicious Witch Hunt, perpetrated by the Lamestream Media in Collusion with Crooked and the Democrat Party, there can be NO WAY, with the greatest Economy in U.S. history, that I can be losing to the Sleepy One. KEEP AMERICA GREAT! | ....the fact that I have gone through a three year vicious Witch Hunt, perpetrated by the Lamestream Media in Collusion with Crooked and the Democrat Party, there can be NO WAY, with the greatest Economy in U.S. history, that I can be losing to the Sleepy One. KEEP AMERICA GREAT! |
| And a Twitter account for Biden’s campaign quickly jumped to action to throw salt in the wound: | And a Twitter account for Biden’s campaign quickly jumped to action to throw salt in the wound: |
| .@realDonaldTrump, we know you love the polls. We're glad you saw the latest from Fox: Biden 49%, Trump 39. You're losing by ten. Have a nice day. | .@realDonaldTrump, we know you love the polls. We're glad you saw the latest from Fox: Biden 49%, Trump 39. You're losing by ten. Have a nice day. |
| The Commerce Department released data today robbing Trump of one of his favorite talking points on the economy. | The Commerce Department released data today robbing Trump of one of his favorite talking points on the economy. |
| The department revised data on US gross domestic production (GDP) back to 2014. According to the newly released data, economic growth last year was 2.5 percent. But Trump has frequently bragged about the economy growing 3 percent last year. | The department revised data on US gross domestic production (GDP) back to 2014. According to the newly released data, economic growth last year was 2.5 percent. But Trump has frequently bragged about the economy growing 3 percent last year. |
| The data also showed that US economic growth slowed to 2.1 percent in the second quarter of 2019, a decline that Trump unsurprisingly blamed on the Federal Reserve. | The data also showed that US economic growth slowed to 2.1 percent in the second quarter of 2019, a decline that Trump unsurprisingly blamed on the Federal Reserve. |
| Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. USA is set to Zoom! | Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. USA is set to Zoom! |
| But the revised 2018 data is likely connected to the news about slowing growth, economists noted. “That’s half a percentage point less momentum in the economy than we thought before,” Ben Herzon, an economist for the firm Macroeconomic Advisers, told the New York Times. “We had been expecting Q2 to be the beginning of the downshift, but it looks like it started before.” | But the revised 2018 data is likely connected to the news about slowing growth, economists noted. “That’s half a percentage point less momentum in the economy than we thought before,” Ben Herzon, an economist for the firm Macroeconomic Advisers, told the New York Times. “We had been expecting Q2 to be the beginning of the downshift, but it looks like it started before.” |