Jul 20, 2018

Trump pulls the Federal Reserve into his trade war

President Trump swiped at the Federal Reserve while criticizing China and the European Union in tweets on Friday, complaining that currency manipulation is "taking away our big competitive edge. ... As usual, not a level playing field."

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Data: Money.net; Chart: Axios Visuals

Why it matters: The trade war between the U.S. and other countries is shifting into a currency war. This is the second time this week Trump has roiled currency markets with comments about Fed policy. The dollar fell shortly after Trump's tweets.

  • Our thought bubble... Axios' Dan Primack says: "Trump pledged during the campaign to label China a currency manipulator but, once in office, chose against actually doing so. Probably because his own Treasury Department said it wasn't true."

Go deeper: The WSJ's Greg Ip on what Trump is missing with his Fed criticism.

  • "Mr. Trump is especially upset by the dollar’s rise, which threatens to widen the trade deficit which he badly wants to shrink. Yet the Fed is the secondary player here. The dollar is up against the euro because Mr. Trump’s tax cut is lifting U.S. growth above Europe’s."
  • "The bigger problem—for the president and the Fed—is optics. ... His schedules show that since becoming chairman, he has not met with Mr. Trump; given the arched eyebrows it’s sure to provoke, he’ll think twice before doing so now. And that’s a pity because there may be times, for example during a crisis, when for the good of the country he should."

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Updated 59 mins ago - Politics & Policy

Autopsies say George Floyd's death was homicide

Police watch as demonstrators block a roadway while protesting the death of George Floyd in Miami. Photo: Joe Raedle/Getty Images

Preliminary results from an independent autopsy commissioned by George Floyd's family found that his death in the custody of Minneapolis police officer Derek Chauvin was "homicide caused by asphyxia due to neck and back compression that led to a lack of blood flow to the brain," according to a statement from the family's attorney.

The latest: An updated official autopsy released by the Hennepin County medical examiner also determined that the manner of Floyd's death was "homicide," ruling it was caused by "cardiopulmonary arrest complicating law enforcement subdued, restraint, and neck compression."

The Biden-Trump split screen

Photos via Getty Images: Jim Watson/AFP (L); Yasin Ozturk/Anadolu Agency (R)

The differences between former Vice President Joe Biden and President Trump are plain as day as the two respond to recent protests.

Why it matters: Americans are seeing firsthand how each presidential nominee responds to a national crisis happening during a global pandemic.

Louisville police chief fired after body cameras found inactive in shooting of black man

Louisville police officers during protests. Photo: Brett Carlsen/Getty Images

Louisville Mayor Greg Fischer fired the city's chief of police Steve Conrad after it was discovered that police officers had not activated their body cameras during the shooting of David McAtee, a local black business owner who was killed during protests early Monday morning.

Why it matters: Mandatory body camera policies have proven to be important in efforts to hold police officers accountable for excessive force against civilians and other misconduct. Those policies are under even greater scrutiny as the nation has erupted in protest over the killing of black people at the hands of police.