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Feds Won’t Touch Interest Rates Until Trump’s Economic Neck Is in a Noose

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Michael Horowitz sat in front of Lindsey Graham’s committee and he told lawmakers he stands by his report even though his boss Bill Barr trashed it. Horowitz told lawmakers his team went through millions of documents and heard testimony from several witnesses and there’s no proof the FBI spied on the Trump campaign.

Mr. Trump lied about spying to take the heat off his nefarious actions during the 2016 election. According to the Mueller report, Trump campaign officials had some kind of interaction with the Russians more than 200 times. Bill Barr defended Trump by insinuating Horowitz didn’t look deep enough, or he overlooked key information that proves Trump’s spying theory.

Mr. Barr let the country know his sole purpose as head of the Department of Justice is to protect the president. Barr believes the president is above the law. But Barr also believes he can damage the Democrats and vent his anger at the system at this stage in his legal career. Several Democratic lawmakers want Barr to face an impeachment hearing once all the smoke clears from the Trump impeachment.

The Chinese won’t agree to buy the amount of farm purchases Trump wants, and that’s one of the main issues that have the phase one part of the trade deal in limbo. In 2017, China was the best export customer American farmers had. China’s importers bought more than $20 billion that year. But once Trump put tariffs in place purchases dropped to $9 billion. Mr. Trump wants China to agree to purchase $40 billion next year, but that number won’t work due to China’s growing farm business with Brazil, Argentina, and Mexico.

Huawei’s CFO Meng Wanzhou won a legal battle when a Canadian judge ordered Canada’s attorney general to come up with more documents that prove taking Wanzhou’s electronic devices away from her and forcing her to give up her passwords before the mounted police put the cuffs on her was the legal thing to do. Canada sent Meng’s information to the FBI so Trump could use her as a pawn in his trade war.

Fed Chairman Jerome Powell told the press the economy won’t implode in 2020, so the Reserve Board kept interest rates the same at the last 2019 meeting. Mr. Powell thinks the economy will continue to grow at a rate of two percent in 2020, but growth will drop to 1.9 percent in 2021.

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