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Read previewDonald Trump appears to be treating his planned appeal in the second E. Jean Carroll defamation case like his former reality TV show, "The Apprentice." Tacopina withdrew from Trump's legal team shortly before the second trial began. That left Habba in charge of defending Trump for his second trial, which resulted in a considerably higher jury verdict. Trump, Rahmani said, "probably realizes that he lost the second Carroll trial so badly in part due to Alina Habba's limited trial experience and that he needs experienced appellate counsel." The judge, conscious of Trump's intent to appeal the second trial results, told as much to Trump in the courtroom before he testified.
Persons: , Donald Trump, Jean Carroll, Carroll, defaming, Trump, Lewis Kaplan, Alina Habba, Michael Madaio, Joe Tacopina, Habba, Tacopina, Kaplan, — Habba, Matthew Cronin, Mark Bederow, Madaio, Judge Kaplan, Mary Altaffer Habba, Joshua Matz, Kaplan Hecker, Fink, Kaplan's, Neama, Rahmani, Alina Habba's, Bederow Organizations: Service, Business, Hunts, Manhattan, American System of Justice, Trump, Associates, Trump —, Habba, AP, Kaplan, Fink LLP Locations: Carroll's, Manhattan, New York, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will put off policy action until at least June: Dreyfus and Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and former Fed economist, joins 'Money Movers' to discuss what to expect from the Federal Reserve in March, the risks to inflation, and clues to see an incrementally weaker job market.
Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Mellon, Fed, Federal Reserve
The Homeland Security Committee is scheduled to vote Tuesday on two articles of impeachment against Mayorkas, a former federal prosecutor, as border security becomes a top issue in the 2024 elections. Trump, on the campaign trail and in private talks, has tried to squelch the Senate’s border security deal. “He has what’s coming to him.”The House impeachment hearings against Mayorkas sprinted ahead in January while the Republicans’ impeachment inquiry into Biden over the business dealings over his son, Hunter Biden, dragged. “House Republicans have produced no evidence that Secretary Mayorkas has committed an impeachable offense,” said House Democratic Leader Hakeem Jeffries of New York. If the House does agree to impeach Mayorkas, the charges would next to go the Senate for a trial.
Persons: Alejandro Mayorkas, Biden, Mayorkas, Donald Trump's, Mike Johnson, , Trump, Joe Biden, ” Mayorkas, Mark Green of, , Mayorkas “, , Michael McCaul, Hunter Biden, Hakeem Jeffries, Jeffries, Marjorie Taylor Greene, Greene, William Belknap Organizations: WASHINGTON, , Republicans, impeaching Homeland, Homeland Security, GOP, Mayorkas, Senate, Republican, Trump, House Foreign Affairs Committee, Democratic, Rep Locations: U.S, Mexico, Las Vegas, South Carolina, Mark Green of Tennessee, Cuba, Texas, New York
At its December meeting, Fed Chair Jerome Powell said the central bank could institute up to three 25-basis-point cuts this year. The first thing Sahm said to look out for is whether or not Powell makes clear that they will not cut rates at the March meeting. If he seems upbeat, it could indicate that the Fed is going to take a more dovish stance and cut rates on the earlier side. This would likely manifest via trouble in financial markets that then affects the real economy. They're taking some big risks in that they're talking about the real economy being resilient, and yet I don't think that's where — if the Fed causes a problem they're doing it in the real economy first," she said.
Persons: Jerome Powell, Claudia Sahm, Sahm, Powell, Stocks, Organizations: Louis, Business, National Bureau of Economic, Fed Locations: St, Sahm
In December, a jury ordered Rudy Giuliani to pay $148 million for defaming election workers. AdvertisementThese extraordinary judgments are the result of a combination of factors, but social media plays a major role, legal experts said. While in the past, high-profile figures may have been less willing to make defamatory statements, social media can actually provide an incentive for them to do so. Jones also stood to gain from spreading conspiracy theories about the Sandy Hook shooting, according to Mattei. Lieb added it's not that any statement made on social media will automatically carry major consequences, but that the size of the person's audience makes a huge difference.
Persons: , Donald Trump, Jean Carroll —, Trump, Rudy Giuliani, Alex Jones, Sandy Hook, We've, Chris Mattei, Jones, Mattei, Infowars, it's, Andrew Lieb, Lieb, Giuliani, Carroll, John Jones Organizations: Service, Business, Carroll, Trump, Dickinson College Locations: New York
A letter from Donald Trump's court monitor in his fraud trial suggests he lied about a $48 million loan. The team also provided a memo from the Trump Org's legal department stating that the loan was paid off. AdvertisementDonald Trump is fighting back after a court monitor's footnote indicated that the former president may have committed tax fraud. The Daily Beast first reported on Sunday the note from Jones is a clue Trump used a fake $48 million loan as a vessel to avoid paying income taxes. Advertisement"It would appear, assuming Judge Jones' letter is accurate, that this amounts to tax evasion," Martin Lobel, a tax lawyer, told The Daily Beast.
Persons: Donald Trump's, , Donald Trump, Barbara Jones, Arthur Engoron, Donald J, Trump, Jones, Judge Jones, Martin Lobel, Clifford S, Robert, Christopher Kise, , Jason Flemmons, Kise Organizations: Trump, Service, Trump Organization, Manhattan Supreme, Chicago, Daily Beast, Daily, Business, Government, Trump Org, Mezz Venture
The Federal Reserve should cut interest rates in March because of downside risks in the labor market, according to Goldman Sachs. "There are some modest downside risks to inflation and the labor market that could still provide additional reasons for the FOMC to cut sooner rather than later." AdvertisementThe Federal Reserve should cut interest rates in March because there are downside risks to the labor market, according to Goldman Sachs economist David Mericle. Former Fed President Esther George noted just how quickly the labor market can sour, even when all indicators look positive. "The labor market is such a tricky one.
Persons: Goldman Sachs, Goldman, David Mericle, Mericle, Powell, Esther George, George Organizations: Fed, Former, Wall Street
Unemployment will double to 6%-7% and a hard landing will hit by the end of 2024, a Mizuho strategist said. "The inflation decline is not a benign indicator of, oh, we've done it, we've got a soft landing." "The hard landing will be a sharp increase in unemployment," Mizuho strategist Dominic Konstam told Bloomberg TV on Monday, forecasting unemployment rates at 6% or 7% by the end of the year. The labor market is increasingly coming into focus in the soft landing debate, as hiring stalls and layoffs increase. "The inflation decline is not a benign indicator of, 'oh, we've done it, we've got a soft landing,'" he said.
Persons: we've, , Mizuho, Dominic Konstam, Goldman Sachs, Konstam, Powell Organizations: Service, Bloomberg, ata Locations: Covid
After a monthslong trial, the attorney general, Letitia James, asked for a penalty of roughly $370 million, which would come on the heels of a separate jury verdict in a defamation case requiring Mr. Trump to pay $83.3 million. The new accusations against Mr. Trump’s family business, the Trump Organization, came late last week in a report from an outside monitor whom Justice Engoron assigned in late 2022 to keep an eye on the company. The monitor, Barbara Jones, a former federal judge, has overseen how the company represents its finances to lenders. Her report highlighted several paperwork issues at a family company trying to shake a legacy of sloppiness: missing disclosures, typos, math errors and questions about a $48 million loan between Mr. Trump and one of his companies. Ms. Jones, now a law firm partner, told the judge that collectively, the issues “may reflect a lack of adequate internal controls.”
Persons: Donald J, Arthur F, Trump, Letitia James, Justice Engoron, Barbara Jones, Jones Organizations: New, Trump Organization Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors can expect three rate cuts in the second half of 2024, says Roger FergusonFormer Fed Vice Chairman Roger Ferguson joins 'Squawk Box' to preview the Fed's two-day meeting this week, state of the economy, rate path outlook, and more.
Persons: Roger Ferguson
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Jones and Trump Organization attorney Alan Garten did not immediately respond to requests for comment from Business Insider. A 'pretty brazen' plotGarten told The Daily Beast an "internal loan" wherein Trump "leant money to the entity that he owns" does exist. "It would appear, assuming Judge Jones' letter is accurate, that this amounts to tax evasion," Martin Lobel, a tax lawyer, told The Daily Beast. So, instead of paying income taxes of up to 39% on the forgiven debt, the outlet reported, Trump "invented a loan — and then parked it."
Persons: , Barbara Jones, Donald Trump's, Arthur Engoron, Jones, Trump's, Trump, Donald J, Alan Garten, Garten, Judge Jones, Martin Lobel, Mother Jones, Adam Levitin, didn't, Jordan Organizations: Service, Daily, Business, Manhattan, Trump Organization, Chicago, Government, New York Times, Georgetown University, Citizens Locations: York, Washington
Charles Littlejohn confessed to leaking Donald Trump's tax returns. The investigators had focused on Littlejohn for a separate leak involving billionaires Jeff Bezos and Elon Musk. On two separate occasions, Littlejohn provided tax documents belonging to Trump, Jeff Bezos, and Elon Musk to two news organizations. Trump's tax returns showed the former president paid just $750 in federal income taxes in 2016 and 2017. Musk's tax returns showed he paid $455 million in taxes on $1.52 billion in income between 2014 and 2018.
Persons: Charles Littlejohn, Donald, Littlejohn, Jeff Bezos, Elon Musk, , Donald Trump's, Trump, Amazon's, ProPublica, Trump's, Bezos's, Barbara Jones Organizations: Federal, Wall, Service, Street Journal, IRS, New York Times, SpaceX, The Times, DOJ, Business, Republican, Prosecutors, Times, Trump Locations: New York
A federal jury ordered Donald Trump to pay E. Jean Carroll $83.3 million in damages on Friday. During the defamation trial, Trump and his attorney appeared to frequently frustrate the presiding judge. The jury deliberated for under three hours before delivering their verdict, which included $18.8 million in compensatory damages and $65 million in punitive damages for Carroll. Juries tend to grow attached to their presiding trial judge, Jones said, adding that they often come to see the judge as a protector of sorts. The $83.3 million in damages are on top of $5 million in damages Carroll won during the May 2023 trial.
Persons: Donald Trump, Jean Carroll, Trump, , Jean Carroll's, Carroll, Lewis Kaplan, Alina Habba, impatiently, John Jones, Jones, Kaplan, Chris Mattei, Alex Jones, Mattei, defaming Carroll, Habba, Biden, Witch Hunt, That's Organizations: Service, Carroll, US, Dickinson College, Trump, , Republican Party Locations: Pennsylvania
Culture issues, ineptitude and poor leadership at General Motors' Cruise autonomous vehicle unit were at the center of regulatory oversights and coverup concerns that have plagued the company since October, according to the findings of a third-party probe. Results of the investigation, which reviewed whether Cruise representatives misled investigators or members of the media in discussing the incident, were published Thursday in a 105-page report. "This conduct has caused both regulators and the media to accuse Cruise of misleading them," the report stated. Quinn Emanuel, the business litigation firm that Cruise retained to conduct the three-month investigation, interviewed 88 Cruise employees and reviewed more than 200,000 documents, including emails, texts, Slack messages and more. The firm is known for representing high-profile celebrities and business owners, including Tesla CEO Elon Musk.
Persons: Cruise, Quinn Emanuel, Slack, John Potter, Quinn Emanuel Urquhart, Elon Musk Organizations: General Motors, Cruise, CNBC, Sullivan, Tesla Locations: Cruise, San Francisco
On Monday, Trump's attorney Alina Habba said he intends to take the witness stand in his defense. Trump's two driving impulses — to fight the system and to take the witness stand — will create the judicial equivalent of a car wreck, experts told Business Insider. Alternatively, Trump can get on the witness stand and "try to testify in a narrative fashion," Jones said. Carroll's trial does have a jury, making it harder to "unring that bell" of forbidden testimony, Jones said. Or wager that he'll inflict wounds on himself by taking the witness stand?
Persons: , Jean Carroll, Donald Trump, Trump, defaming Carroll, Carroll, Carroll —, Alina Habba, John Jones, Jilting, MAGA, Jones, " Jones, Lewis Kaplan, — Trump, aren't, Carol Martin, Carroll's, Mary Altaffer Trump, Habba, Chris Mattei, Alex Jones, Sandy Hook, " Mattei, Kaplan, Arthur Engoron, Michael M, Engoron, Will, he's, he'll, Elle, Jane Rosenberg, Mattei, they'll, Rudy Giuliani's, Giuliani, it's, Forbes Organizations: Service, Business, Dickinson College, AP, Trump, New York Attorney, New, US Justice Department, Getty, REUTERS, Republican Locations: Manhattan, Pennsylvania, Florida, Georgia
A survey by the Federal Reserve Bank of New York found that Americans' inflation expectations have reached their lowest point in nearly three years. Economists say consumers appear to be responding to steadily slower inflation, higher incomes, lower gas prices and a rising stock market. What's more, paychecks have outpaced inflation over the past year, thereby easing Americans' adjustment to a higher cost of living. Political Cartoons View All 253 ImagesEven with the steady slowdown in inflation, prices are still nearly 17% higher than they were three years ago, a source of discontent for many Americans. It would be too painful.”Claudia Sahm, founder of Sahm Consulting and also a former Fed economist, acknowledged that "people are angry” about higher prices.
Persons: Joe Biden's, What's, , Grace Zwemmer, Marshall, , Dana Smith, Smith, Ryan Cummings, ” Cummings, Biden, Robert Shiller, David Andolfatto, “ Let’s, Claudia Sahm, Josh Boak Organizations: WASHINGTON, University of Michigan, Federal Reserve Bank of New, Federal, Oxford Economics, Marshall, Trump, Democratic, Fed, University of Miami, Sahm Consulting Locations: Federal Reserve Bank of New York, Atlanta, Matthews , North Carolina, Charlotte, Washington
The Fed is the biggest risk to a soft landing for the economy, former Fed official Claudia Sahm said. The Fed is the biggest risk to the soft landing." Instead, an "unnecessary" recession created by elevated interest rates would be far worse. Advertisement"The idea that the worst thing that the Fed can do is cut and then raise is dangerous," she wrote. For the Fed to reverse its rate cuts wouldn't be the worst thing in the world, Sahm said.
Persons: Claudia Sahm, , Chris Waller, Raphael Bostic, Sahm, Paul Volcker, Alan Greenspan, Jerome Powell, that's Organizations: Service, Atlanta Fed, Fed
The Federal Reserve is risking a dotcom bubble-like market problem unless it lowers Wall Street's expectations for interest rate cuts, widely followed market strategist Ed Yardeni said. Yardeni is worried that aggressive Fed easing "risks fueling irrational exuberance," a term that former Fed Chair Alan Greenspan coined in 1996 for the runup in stock prices ahead of the dotcom bubble bursting. Those developments come a little more than a week ahead of the Fed's next policy meeting Jan. 30-31. "The Fed's last big mistake was falling behind the inflation curve in 2021 and early 2022," Yardeni said. "The Fed's next big mistake could be inflating a speculative stock market bubble.
Persons: Ed Yardeni, Jerome Powell, Alan Greenspan, we've, Powell, Yardeni Organizations: Federal, Yardeni Research, CME
HARRISBURG, Pa. (AP) — Pennsylvania's Republican Party on Monday endorsed York County's district attorney, Dave Sunday, for state attorney general out of a three-person field. The party's endorsement came the day before candidates could begin collecting the required number of voter signatures to get on Pennsylvania's primary ballot. Sunday won the endorsement over state Rep. Craig Williams and Katayoun Copeland, both former federal prosecutors who hail from Delaware County in southeastern Pennsylvania. No Republican has been elected attorney general since 2008. Josh Shapiro ’s second term as attorney general and doesn’t plan to run for the office.
Persons: , Dave Sunday, Craig Williams, Katayoun Copeland, Copeland, Joe Biden’s, Donald Trump’s, Jack Stollsteimer, Jared Solomon of Philadelphia, Eugene DePasquale, Joe Kahn, Keir Bradford, Michelle Henry, Josh Shapiro ’, Shapiro, Henry, ___, Marc Levy Organizations: Republican Party, Monday, York, Sunday, Republican, Gov Locations: HARRISBURG, Pa, Delaware County, Pennsylvania, Montgomery
A watchdog review into market trading from two former high-ranking Federal Reserve officials criticizes their actions but does not accuse either of doing anything illegal. Revelations showed that some Fed officials engaged in market trading at a time when they also were considering important and delicate policy matters in the early days of the Covid pandemic in 2020. The report concludes that their actions resulted in conflicts of interest that raised issues over impartiality and the proper conduct of central bank officials. On Kaplan, the report states that the OIG "did not find that his trading activities violated laws, rules, regulations, or policies related to trading activities as investigated by our office." Since the controversy, the Fed has revamped its trading rules and now prohibits officials from owning stocks, bonds and cryptocurrencies.
Persons: Robert Kaplan, Eric Rosengren, — Kaplan, Jerome Powell, Richard Clarida, Raphael Bostic, Clarida, Kaplan Organizations: Eccles Federal, Federal, Fed's, Dallas, Atlanta Fed, Fed, Kaplan, CNBC, Federal Reserve, Dallas Fed Locations: Washington , DC, Boston, U.S
The judge overseeing Donald Trump's second E. Jean Carroll defamation trial has repeatedly bench-slapped his lawyer. Alina Habba repeatedly made simple lawyering mistakes, disrupting the proceedings. The judge actually showed restraint handling Habba, one former judge said. And the judge actually showed restraint in his repeated scoldings of Habba, a former federal judge told Business Insider. AdvertisementJones said that by being disruptive in the court, Habba is doing exactly what Trump wants: sowing chaos.
Persons: Donald Trump's, Jean Carroll, Alina Habba, , Lewis Kaplan, reprimanding, Kaplan barked, Habba, Trump, Carroll, Kaplan, John Jones, Jones, Kaplan's, she's Organizations: Service, Business, New, Trump, Middle District of, Dickinson College Locations: New York, Habba, Middle District, Middle District of Pennsylvania
Allegations have surfaced of an affair between Fulton County DA Fani Willis and an attorney she hired. AdvertisementFulton County District Attorney Fani Willis hired attorney Nathan Wade to lead the Georgia prosecution of Donald Trump and 18 others over efforts to overturn the 2020 election. The lawyer is seeking to get the indictment tossed and to remove Willis and Wade from the case. Outside of any effect on this case, Willis, an elected Democrat, is up for reelection this year, and this could become a campaign issue depending on how she ultimately responds. Records show Wade billed for what he described as "travel to Athens; conf with White House Counsel" in May 2022.
Persons: Fani Willis, Nathan Wade, Willis, Donald Trump, , Wade, Wade —, Trump, vies, it's, Rahmani, Anthony Michael Kreis, Ashleigh Merchant, Michael Roman, Merchant, unseal, Joycelyn Wade, Joycelyn, Jeff DiSantis, John Floyd, Anna Cross, Wade's, Thurbert Baker, Baker, It's, Neil Warren, foreperson, Georgia —, There's, Peter Strzok, Robert James, that's, I've, James Organizations: Service, Trump, West, Trial, Georgia State University, Associated Press, White, Caribbean, AP, Defense, White House, Records, DC Locations: Fulton County, Georgia, Napa Valley , Florida, Caribbean, Wade's, San Francisco, Belize, Panama, Australia, Miami, Cobb County, Athens, Russia, DeKalb County , Georgia
SANTA FE, N.M. (AP) — Two Republican legislators filed a resolution Wednesday aimed at initiating impeachment proceedings against Democratic Gov. Michelle Lujan Grisham over her emergency public health orders suspending the right to carry firearms in some public places in greater Albuquerque, such as parks and playgrounds. Gun rights advocates have filed legal challenges to the orders and are urging the New Mexico Supreme Court to block them. In the federal court system, a judge has allowed enforcement of the gun provision to continue while legal challenges run their course. New Mexico lawmakers convened Tuesday for a 30-day session and could take up a broad slate of firearms proposals from the governor that aim to reduce gun violence, including a permanent statewide ban on firearms in public parks and playgrounds.
Persons: Michelle Lujan Grisham, Stefani Lord, John Block, , “ We're, , Lujan Grisham Organizations: SANTA FE, Democratic Gov, Sandia, Alamogordo, Republicans, New, Republican, National Rifle Association Locations: SANTA, Albuquerque, New Mexico, Mexico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will likely cut rates 2-3 times this year, says Roger FergusonFormer Fed Vice Chairman Roger Ferguson discusses his expectations for rate cuts this year.
Persons: Roger Ferguson
A former travel security officer shared tips for airline travel on TikTok. Caleb Harmon-Marshall says there are a lot of misconceptions about airport security. Harmon-Marshall told Business Insider that airport security is nothing to fear, and staff are first and foremost there to keep you safe. For starters, you can bring water, or any liquid, with you through airport security as long as it's frozen. Overall, Harmon-Marshall said it's important to be vigilant before and during airport security.
Persons: Caleb Harmon, Marshall, , Harmon, Hartsfield –, they're, they'll Organizations: Service, TSA, Business, Hartsfield, Hartsfield – Jackson Atlanta International Airport Locations: TikTok
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