Trump Slams Fed: "QT Was A Big Mistake" And "A Small Rate Cut Isn't Enough"

Update: President Trump simply won't back down from bashing the Fed on Monday. In a series of two tweets sent just before the open, Trump alleged that the central bank "raised way too early and way too much" and that their "quantitative tightening" was "another big mistake."

And while the US is "doing very well" in terms of wealth creation, we could have done much better if the Fed hadn't rushed to keep hiking rates.

Unfortunately, slashing rates by 25 bp simply isn't enough. "The Fed has made all of the wrong moves…a small rate cut isn't enough, but we will win anyway!"

The Fed “raised” way too early and way too much. Their quantitative tightening was another big mistake. While our Country is doing very well, the potential wealth creation that was missed, especially when measured against our debt, is staggering. We are competing with other…..

— Donald J. Trump (@realDonaldTrump) July 29, 2019

….countries that know how to play the game against the U.S. That’s actually why the E.U. was formed….and for China, until now, the U.S. has been “easy pickens.” The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!

— Donald J. Trump (@realDonaldTrump) July 29, 2019

But will the Fed listen? Markets are increasingly doubting the prospects for a 50 bp cut on Wednesday.

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With one day left until the FOMC begins its two-day monetary policy meeting - said to be the most important policy meeting since the days that immediately followed the financial crisis - President Trump once again slammed the Fed in a tweet, echoing a criticism that he has repeatedly used over the past few weeks.

https://www.zerohedge.com/news/2019-07-29/trump-slams-fed-king-elijah-conman-al-sharpton-furious-twitter-rant

Trump Signs 9/11 First Responders Relief Bill

President Donald Trump signed a bill Monday that provides relief to victims of the September 11, 2001 terror attacks.

H.R.1327, or the “Never Forget the Heroes: James Zadroga, Ray Pfeifer, and Luis Alvarez Permanent Authorization of the September 11th Victim Compensation Fund Act,” provides full funding for the 9/11 victim compensation fund through 2092. The compensation fund provides for medical care and losses experienced by victims and first responders stemming from the deadly attacks, and is estimated to cost over $10 billion over the next ten years.

The president signed the bipartisan legislation during a special event in the Rose Garden, featuring the families of the bill’s namesakes, including their children, widows, parents, and siblings.

“Today, we come together as one nation to support our Sept. 11 heroes,” Trump said. “They answered terror with the emotional strength of true American warriors.”

https://dailycaller.com/2019/07/29/trump-signs-september-11-first-responders-bill/

Petition Against Boris’s Illegal Migrant Amnesty Plan Breaks 10,000, Govt to Respond

The official petition against Boris Johnson’s proposed amnesty for illegal migrants who have been in the country for some years has broken the 10,000 signature threshold in a few days, meaning the Government will respond to it.

Boris Johnson pushed for an amnesty for illegal migrants who have been in the United Kingdom for 15, sometimes only 12 years in his former roles as both Mayor of London and Foreign and Commonwealth Secretary, and indicated he was still in favour of the scheme during his first parliamentary question and answer session as Prime Minister.

“As London Mayor, the Prime Minister courted popularity with pledging an amnesty for illegal immigrants… Now that he is a position to do something about [this], is he a man of his word?” Labour’s Rupa Huq demanded.

“[F]or the amnesty on illegal immigrants, it is absolutely true that I have raised it several times since I was in Government,” Johnson replied.

“I think that our arrangements, in theoretically being committed to the expulsion of perhaps half a million people who do not have the correct papers, and who may have been living and working here for many, many years without being involved in any criminal activity at all — I think that legal position is anomalous” he continued, leaving the question of how someone could enter the country illegally and live by crime or work in the black economy “without any criminal activity at all” unaddressed.

“I do think — I will answer the hon. Lady directly — that we need to look at our arrangements for people who have lived and worked here for a long time, unable to enter the economy and to participate properly or pay taxes, without documents. We should look at it… we should look at the economic advantages and disadvantages of going ahead with the policy that she described, and on which I think she and I share a view.”

https://www.breitbart.com/europe/2019/07/29/petition-against-boriss-illegal-migrant-amnesty-breaks-10000-govt-respond/

Two Israeli Crime Bosses Killed in Mexico City Turf War

Two Israeli crime bosses are the latest victims in a turf war as Cartel Jalisco Nueva Generacion (CJNG) continues to expand operations throughout Mexico. Assassins killed the pair at an upscale shopping center in Mexico City.

The incident occurred last week at the Plaza Artz shopping center in Mexico City when a team of hitmen working for CJNG shot and killed 44-year-old Benjamin Yeshurun Satchi aka “Johnny Ben” and his associate, 41-year-old Alon Azulay. The hitman first targeted a security guard and a cop as a distraction before going after the two crime bosses inside a restaurant. They were shot several times. One of the victims died at the scene while the second passed soon after at a local hospital.

Mexican authorities arrested 33-year-old Esperanza Gutierrez, who initially claimed the murder was a crime of passion but later confessed to being a hitman for CJNG and collecting $5,000 pesos ($250) per kill, El Universal reported. The CJNG is one of Mexico’s most violent cartels currently carrying out a fierce territorial expansion campaign. CJNG was singled out by Mexican intelligence officials for their training, use of IEDs, and recruitment of Colombian terrorists from the FARC.

According to The Times of Israel, the episode may have been a revenge killing over Satchi’s numerous murders in Israel. Gabriel Regino, one of Mexico’s former top law enforcement officials, told Milenio Noticias that Satchi was trained by Mossad. Regino previously arrested Satchin 2005. At the time, Satchi allegedly came to Mexico to help provide security to Israeli businessmen but eventually established an extortion racket.

Both Satchi and Azulay were tied to organized crime in Mexico to include cocaine sales trade in upscale neighborhoods and underground weapons sales, authorities revealed.

https://www.breitbart.com/border/2019/07/29/two-israeli-crime-bosses-killed-in-mexico-city-turf-war/