NEWS BRIEFING
President not a threat to Fed’s independence, Mnuchin says
Speaking to reporters on the sidelines of a Group of 20 meeting in Buenos Aires, Mnuchin said he couldn’t comment on why Trump made the remarks, but he didn’t think they were a mistake. Mnuchin said he’s talked to Trump and “his intention is not to in any way put pressure on the Fed,” referring to the U.S. central bank.
On Friday, Trump for a second day criticized the Federal Reserve, breaking with a tradition at the White House of avoiding any influence, real or perceived, on the independence of the central bank.
In a tweet, he said: “China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day — taking away our big competitive edge.”
Mnuchin also said the economy has not been harmed by the trade battles set off by Trump’s get-tough policies although some individual sectors have been hurt. He said the administration was exploring ways to help farmers and other specific industries that have been affected.
Mnuchin’s comments to reporters came at a meeting of finance ministers and central bank presidents from G-20 countries. The United States is being represented at the gathering by Mnuchin and Federal Reserve Chairman Jerome Powell.
Police take gunman in LA Trader Joe’s into custody
The incident began as a pursuit from Hollywood that ended with a car crashing next to the store. Law enforcement sources said the gunman opened fire on officers and ran inside the store. It was unclear whether any hostages remained in the store or if any shoppers or employees were hurt, but TV footage showed police tending to one person who appeared to be injured.
A woman at a supermarket across the street said gunfire was heard in that store and that everyone dove to the floor. She said employees eventually let shoppers out.
French investigators raid home of Macron’s former bodyguard
Alexandre Benalla’s involvement in the beating and questions about the government’s handling of the affair is turning into Macron’s biggest political crisis since he took office last year.
The presidential Elysee Palace fired bodyguard Benalla a day before police raided his home Saturday in the Parisian suburb of Issy-Les-Moulineaux.
Benalla was identified by the Le Monde newspaper for beating a protester during May Day protests while wearing a police helmet. He and a second man are facing potential charges and are in custody until Sunday.
Fiat Chrysler chooses Jeep exec Manley to replace ill CEO
Marchionne, a 66-year-old Italian-Canadian, joined Fiat in 2004 and led the Turin-based company’s merger with bankrupt U.S. carmaker Chrysler. Manley, 54, had been heading the Jeep brand since June 2009 and the Ram brand from October 2015.
The announcement, at the end of an urgently convened board meeting, marked the end of the Marchionne era, which included the turnaround of failing Fiat, the takeover of Chrysler and the spinoffs of the heavy machinery and truck maker CNH and supercar maker Ferrari.
Application to wiretap Trump ex-aide made public
The government had monitored Page under the Foreign Intelligence Surveillance Act, and the heavily redacted documents were made public after media organizations sued for their release under the Freedom of Information Act.
The application identifies Page by name and says that he engaged in “clandestine intelligence activities” on behalf of Russia and had been the target of Russian government recruitment.
The application describes Russia as having interfered in the 2016 presidential election.
Page has denied that he was a Russian agent.
Cuban officials accept move in Cabinet from new president
At the same time, the national assembly received a proposed reform of Cuba’s 1976 constitution that would reshape its government, courts and economy, and pave the way for same-sex marriage. The charter will be put to a national referendum in the coming months then return to the assembly.
The main change was the absence of economic reforms minister Marino Murillo, who had accompanied Raul Castro for a decade while he implemented modest openings to private enterprise in the socialist economy. Diaz-Canel replaced Castro in April.