Trump Found Guilty on All 34 Charges in NY Hush Money Trial

Former President Donald Trump was found guilty on all 34 felony charges in his hush money trial in Manhattan on Thursday, capping a weeks-long dramatic legal showdown that saw the testimony of his former lawyer Michael Cohen and former porn star Stormy Daniels (real name Stephanie Clifford).

The convictions stem from 2016 payments made to Daniels by Cohen as part of a non-disclosure agreement over an alleged affair in 2006, which Trump later reimbursed. Prosecutors alleged that the payments were aimed at influencing the 2016 election and thus should have been labeled as campaign contributions rather than legal expenses. Because the false entries in business records were used to conceal another crime (federal campaign finance violations), it upgraded the violations to felonies and allowed the charges to be brought within the statute of limitations, which tolled when Trump left New York for Florida.

Trump is widely expected to appeal the verdict, with his team likely to claim a pro-prosecution bias by Judge Juan Merchan in his decisions during the trial and in his jury instructions.

President Joe Biden was expected to speak on the Trump verdict in an official White House address, but has since said he will address the verdict in answers to reporters during typical press questioning. His campaign communications director Michael Tyler released a statement saying, “In New York today, we saw that no one is above the law.”

Biden’s son, Hunter, will face his own trial on firearms charges in June over alleged false statements on federal firearms forms. He also faces pending federal tax charges in California.

 

Severe Storms Strike Texas and Other States, 25 Dead

At least 25 have been killed in severe weather over the Memorial Day weekend, with subsequent storms on Tuesday, downing power lines and leaving thousands without power in the North Texas region.

Dallas County Judge Clay Lewis Jenkins warned his county’s residents that it could take days to restore power and that they should avoid downed lines.

The central US has been hammered with severe weather this month as cold fronts collide with hotter air masses, spawning severe thunderstorms and tornadoes as they push south.

 

Midwest Tornado Outbreaks Kill At Least 5

The Midwest endured days of severe weather last week and this past weekend, including tornadoes and strong wind. One of the tornadoes, an EF-4 which struck Marietta, Oklahoma, and killed 1, was the country’s strongest tornado in over a year, with its winds estimated at 170 miles per hour.

Another tornado hit Sulphur, Oklahoma, killing 5 and injuring over 100 others in the small town of just over 5,000. That tornado is currently rated as an EF-3, but could be upgraded as the damage it caused is surveyed further.

 

Universities Grapple with Unrest at Pro-Palestinian Demonstrations

Universities across the US continue to struggle to control pro-Palestinian demonstrations on their campuses.

Columbia University has emerged as one of the most prominent flashpoints in the ongoing unrest, with protesters occupying public spaces and blocking entrance to buildings. Reports of Jewish students being harassed drew condemnation, including from the White House.

Demonstrators have refused to abandon encampments as the university’s administration has threatened suspension. An order to abandon the camp by 2 PM EDT Monday went largely unheeded.

Similar demonstrations have occurred at Yale University, the University of Texas at Austin, the University of Southern California, and the University of California, Berkeley.

At Northwestern University, protesters reached an agreement with the administration to largely dismantle their camp, with the university in turn funding two new Palestinian faculty members and funding scholarships for five Palestinian undergraduate students.

 

Slowing Economic Growth, Rising Inflation Raises Concerns

Economists have been hoping for a ‘soft landing’ scenario, in which the Federal Reserve’s monetary tightening would tame inflation without causing a recession. In the closing months of 2023, it appeared that this ideal scenario was in reach. with falling inflation numbers, low unemployment, and talks of cutting interest rates. However, recent economic data has cast doubt on whether the US economy can stick the landing.

Inflation numbers for the first quarter of 2024 came in higher than expected, with consumer prices rising 3.5% in March year-over-year, up from February’s 3.2% inflation rate. The target inflation rate is 2%.

Meanwhile, US GDP growth for the first quarter of 2024 was 1.6% annualized, a decrease from the 3.4% growth rate in Q4 2023. This slowing growth, combined with the rising inflation, has raised fears of possible ‘stagflation,’ in which the economy shrinks while prices rise. Typically, prices decrease in recession, reducing the hardship on consumers amid job losses and reduced economic output. In a stagflation scenario, customers pay higher prices while still facing job losses.

Equity markets have pulled back in response to the data as investors have become far less confident of the Fed cutting interest rate cuts this year.

The current economic situation remains relatively strong on paper: Unemployment remains low, job growth remains strong, and inflation remains far below the high levels seen in 2021 and 2022. These positive economic indicators have been blunted by what some have called a cost of living crisis, most notably felt in rising housing costs and wages not keeping up with rising costs in general.