Donald Trump has become the first U.S. President to be criminally charged
Former U.S. President Donald Trump has been indicted by a Manhattan grand jury after a probe into hush money paid to porn star Stormy Daniels.
The adult film star maintains she had an affair with the former president, and was paid to keep it quiet. She said the sexual encounter occurred in 2006, a year after Trump married his current wife Melania, and over a decade before he ran for President of the United States.
While the payment was legal, it was allegedly recorded as a business expense, which is illegal in New York.
Daniels said the two had consensual sex.
Michael Cohen was Trump’s lawyer at the time, who made the $130,000 payment to Daniels in 2016, several days before the U.S. presidential election. He said he would “take a bullet” for Trump.
Two years later, he pleaded guilty to nine federal crimes including tax fraud, lying to Congress and campaign finance violations.
Cohen told CNN he was surprised about the timing of the indictment but “this is a long time coming.”
It means the former president will likely be arrested in the coming days. He will then enter a Manhattan courthouse, where he will be fingerprinted and have his mug shot taken.
“This evening we contacted Mr Trump’s attorney to coordinate his surrender to the Manhattan DA’s office for arraignment on a Supreme Court indictment, which remains under seal. Guidance will be provided when the arraignment date is selected.”
Alvin Bragg, MANHATTAN DISTRICT ATTORNEY
Alvin Bragg is the Manhattan District Attorney, who helped to sue the Trump Administration more than 100 times during its four-year term.
Trump has previously described the indictment as an attempt to “weaponise” the U.S. justice system.
In a statement, Trump’s lawyer said “he did not commit any crime”.
“We will vigorously fight this political prosecution in court,” the statement read.
What happens now?
The U.S. is fast approaching a presidential election, and Trump has signalled he will run for office again.
Many Republicans have swiftly defended Trump since the indictment came to light. This includes Nikki Haley, who is a current 2024 presidential candidate herself.
“This is more about revenge than it is about justice,” she tweeted.
Calvin Dark is a global affairs commentator in Washington, who said the reaction will be mixed among senior republicans.
“When it comes to Nikki Haley or former vice-president Mike Pence, they’re going to be an interesting situation.
“They’re going to want to use this to their political advantage to provide an alternative to many who might not want to nominate an indicted former president,” he said.
However, a criminal conviction would not prevent Trump from moving forward with his presidential campaign.
U.S. law does not stop criminals from running and serving as president—even if it’s from a prison cell.
“I think Ron DeSantis is going to play it pretty quiet. You might see a snide comment here and there. If you’re opponent is digging a hole, tell them to keep digging,” Dark said.
What does it mean?
Many U.S. conservatives believe the former president is being held to a different standard of justice.
Meanwhile, Democrats have viewed this through the lens of holding people in power to account.
“We are in unchartered legal and political territory,” said Bruce Wolpe from the U.S. Studies Centre.
“Trump has been telling his base that he’s done nothing wrong, and that he’s been persecuted politically.”
BRUCE WOLPE, U.S. STUDIES CENTRE
“His base is all in. This will not change Republican voter sentiment towards Trump as a political candidate for the presidency,” Wolpe said.
Trump is facing a string of other probes, including his efforts to undo the results of the 2020 presidential election, and whether he illegally interfered in Georgia.
Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom.
He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.
In Short:
– Jerome Powell stated further interest rate cuts are uncertain after recent decreases, aiming to manage market expectations.
– The Fed ended its balance sheet reduction due to lending market disruptions and mixed views on future rate cuts among officials.
Federal Reserve chairman Jerome Powell indicated that further interest rate cuts are not guaranteed following the recent decrease. In a press conference, he stated that a further reduction in December is “far from” certain. His comments aimed to temper market expectations, where the likelihood of another cut was previously estimated at over 90 per cent.In response to Powell’s remarks, yields on the two-year treasury rose, and traders adjusted their expectations, now estimating a 60 per cent chance of a December reduction. Recently, the Federal Open Market Committee voted 10-2 to lower the federal funds rate target range to 3.75-4 per cent, in response to concerns about the labour market.
The Fed has also announced an end to its balance sheet reduction efforts due to disruptions in short-term lending markets. Since 2022, the bank has reduced its asset holdings by over $US2 trillion following aggressive purchases aimed at stabilising the economy after the pandemic.
Policy Divisions
Recent post-meeting statements highlighted mixed views among Fed officials about the pace of future rate cuts. Powell remarked that uncertainty surrounding economic conditions necessitates a cautious approach. Ongoing government shutdowns have limited policymakers’ access to crucial economic data, complicating decision-making.
Recent labour market developments show slowed job gains, raising concerns about employment. The Fed is also cautious about reducing rates too quickly due to inflation remaining above their 2 per cent target, reflecting a complex economic landscape. Policymakers have struggled with decisions amid data limitations from the government shutdown, impacting their assessments of inflation and economic indicators.
In Short:
– Trump and South Korea’s Lee finalised a trade deal requiring $350 billion in U.S. investments.
– Trump anticipates favourable talks with China to reduce tariffs and improve relations.
Donald Trump and South Korean President Lee Jae Myung finalised a contentious trade deal at a summit in South Korea on Wednesday. The U.S. President expressed optimism about an upcoming summit with China’s Xi Jinping.The agreement, unveiled in late July, stipulated that South Korea would make $350 billion in new investments in the U.S. to avoid significant tariffs on imports. However, negotiations on the investment structure had stalled.
Trump and Lee reached a compromise allowing Seoul to divide its $350 billion investment into $200 billion in cash, paid in $20 billion instalments. The remaining $150 billion will be allocated to shipbuilding investments.
Upon arrival from Tokyo, following a North Korea missile test, President Trump received an extravagant welcome in the historic city of Gyeongju, the venue for this year’s Asia-Pacific Economic Cooperation forum.
His discussions with Xi are scheduled for Thursday in Busan. Trump downplayed the North Korea missile test and focused on his meeting with Xi, the leader of the world’s second-largest economy.
“I think we’re going to have a very good outcome for our country and for the world,” Trump stated. He anticipates reducing U.S. tariffs on Chinese imports in exchange for China agreeing to control the export of fentanyl precursor chemicals. The Wall Street Journal reported that tariffs could be halved from the current 20%.
China’s foreign ministry indicated that the upcoming meeting would foster positive developments in U.S.-China relations.
Australia’s economy struggles; rate cut impending but signals deeper issues, not recovery. #RBA #InterestRates #FinanceNews
Australia’s economy is losing steam, with weak consumer confidence, falling job ads, and a struggling construction sector, a December rate cut now seems inevitable. But it won’t be a win, it’ll be a warning.