Special Counsel Mueller Reviewing Whether Trump Attempted To Obstruct Justice; Fed Raises Rates As Yellen Points To Rebounding Economic Growth

On Wednesday the Washington Post reported that the Special Counsel Robert Mueller is interviewing senior intelligence officials about Russia’s role in the 2016 U.S. presidential election as part of a wider probe that includes a close review of whether President Trump attempted to obstruct justice, according to officials.

Although President Trump received assurances from former FBI Director James Comey in January that he wasn’t personally under investigation,  officials said that changed shortly after Comey’s firing in May.

The Washington Post story explains that Special Counsel Mueller is overseeing a variety of investigations of people who are or were in Trump’s orbit while the main investigation is reviewing possible contacts with Russian operatives and suspicious financial activity related to those individuals.

Previous accounts by Comey and other officials of their conversations with President Trump could be used by Special Counsel Mueller if he decides to pursue a case of obstruction of justice.

On Tuesday, U.S. Attorney General Jeff Sessions refused to comment before the Senate Intelligence Committee about any private conversations that involved President Trump.

Former FBI Director James Comey testified under oath before the Senate Intelligence Committee that his firing by President Trump was tied to the president’s concerns about the Russian probe.

President Trump has accused Comey of making false statements, lies, and being a leaker.

On June 9th shortly after Comey’s Senate testimony, President Trump tweeted, “Despite so many false statements and lies, total and complete vindication…and WOW, Comey is a leaker!”

Federal Reserve Raises Federal Funds by 25 Bp (1/4 percent) During June FOMC

On Wednesday at the conclusion of the Fed’s 2 day June monetary policy meeting in Washington D.C., the Federal Reserve decided to raise the target range for the federal funds rate 25 basis points to 1 to 1-1.25ercent.

Fed Chairwoman Janet Yellen explained that following a slowdown in the first quarter, economic growth appears to have rebounded and pointed to labor data showing job gains have averaged about 160,000 per month since the start of the year.

Yellen said that with employment close to its maximum sustainable level and the labor market continuing to strengthen, the Fed still expects inflation to move higher and stabilize around 2 percent over the next couple of years, in line with their longer-run objective.

Central bankers at the Fed are projecting another 25 point basis point rate hike with the federal funds in 2017.

The median projection for the federal funds rate is 1.4 percent at the end of 2017, 2.1 percent at the end of 2018, and 2.9 percent at the end of 2019.

Written and Edited By:

Johnathan Schweitzer



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