Apr 4, 2019

Congress rebukes Trump with resolution to end U.S. military involvement in Yemen

A Yemeni man inspects damage from an airstrike by the Saudi-led coalition in 2016. Photo: Mohammed Huwais/AFP/Getty Images

The House on Thursday passed a Senate resolution 247-175 directing President Trump to remove the U.S. military from Yemen within 30 days and to end U.S. support for the Saudi-led coalition in the war.

Why it matters: This marks the first time that a bill leaning on the War Powers Resolution of 1973 will go to the president's desk. Trump is expected to veto the resolution, which he threatened to do when it passed through the Senate for the first time in December last year.

The big picture: The bill is a rebuke of Trump's foreign policy amid broader pushback over his defense of Saudi Arabia, whose role in the conflict has been under heightened scrutiny since the murder of journalist Jamal Khashoggi. The war waged by Saudi Crown Prince Mohammed bin Salman has resulted in the world's worst humanitarian crisis, with an estimated 80% of the population in need of some sort of aid or protection.

  • "Only we say and decide when the United States is at war," House Foreign Affairs Chairman Eliot Engel (D-N.Y.) said in his opening remarks on Thursday. "If [Trump] uses his veto pen, I hope he understands just what it is he's vetoing."

House GOP lawmakers attempted to change the resolution through an amendment that would have added language to condemn and oppose the global Boycott, Divestment and Sanctions (BDS) movement, which promotes various forms of boycott against Israel. It was defeated 194-228.

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Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.