- Trump declared an emergency in Washington.
- Twitter shares on the stock exchanges lost 8% following blocking Trump.
- Dallas Fed President Robert Kaplan gave forecasts.
Trump Declared an Emergency in Washington.
American leader Donald Trump has declared a state of emergency and sent federal aid to the authorities in the American capital in connection with security efforts ahead of the inauguration of newly elected President Joseph Biden. This is stated in the document distributed by the White House, reports UNN.
“Today, President Donald Trump declared an emergency in the District of Columbia and ordered federal aid to complement the DC’s emergency response efforts following the 59th inauguration of the President, which will take place from 11-24 January 2021,” the White House noted.
The introduction of the state of emergency will allow the federal authorities to allocate funds to provide assistance to the city in an accelerated manner.
In a statement from the White House, it was stated that Trump has declared an “emergency” to make the necessary preparations for Biden’s inauguration ceremony on January 20.
It was noted that in the context of the emergency, Trump has commissioned the Federal Emergency Management Agency (FEMA) of the Ministry of Internal Security to meet all necessary urgent needs.
According to the Federal Bureau of Investigation (FBI), far-right activists are planning armed protests in all American states between January 16 and 20. This was announced on Monday, January 11, by the media company ABC and Yahoo News, which familiarized themselves with the report of the law enforcement agency, reports UNN.
According to ABC News on Twitter, “the identified militant group said it plans to travel to Washington on January 16, and has vowed to revolt if attempts are made to remove Trump from office.” On January 20, the inauguration of the newly elected US President Joe Biden is to take place in Washington.
Twitter Shares on the Stock Exchanges Lost 8% Following Blocking Trump
German-listed shares of Twitter fell 8% on the first trading day after the social network permanently blocked the account of US President Donald Trump on Friday evening.
The social media firm’s US-listed shares were also off 6.8 percent at $47.94 in thin premarket trading.
The company previously said the blocking of Trump’s account, which had more than 88 million followers, was linked to the risk of further violence following the storming of the US Capitol on Wednesday.
Spokesperson of Chancellor Angela Merkel, Steffen Seibert, said Merkel considers the suspension of US President Donald Trump’s social media accounts “problematic”
Spokesperson of German Chancellor Angela Merkel, Steffen Seibert, made statements regarding the suspension of US President Donald Trump’s Twitter account.
Noting that social media operators bear a great responsibility to prevent the poisoning of political communication by incitement to hatred, lies, and violence, Seibert emphasized that freedom of thought is also a fundamental right.
Noting that this fundamental right can be intervened within the scope of the law, not the decision of the social media management, Spokesperson Seibert said, “From this perspective, Prime Minister Merkel thinks that the closure of the US President’s accounts is problematic.”
Other social media platforms, including Facebook, have issued similar bans on Trump, but Monday’s fall of as much as 12% in Twitter’s stock was much deeper than for any of its peers. Facebook was last down almost 4% and Alphabet lost 2%.
“These moves, whether you consider them justified or not, could well see them lose further users if they become seen as arbiters of what is considered politically correct or acceptable,” said Michael Hewson, chief analyst at CMC Markets UK.
Dallas Fed President Robert Kaplan Gave Forecasts
Dallas Fed President Robert Kaplan said that the next few months will be tough due to increasing coronavirus cases, but he does not expect the US economy to contract in the current quarter and predicts 5 percent growth in the entire year 2021.
The economy faces a few challenging months ahead as the virus surge continues, Kaplan said, but for the year as a whole gross domestic product (GDP) is likely to grow about 5 percent. Kaplan stated that the unemployment rate, which is currently at 6.7 percent, is likely to fall to 4.5 or 4.75 percent by the end of the year. Stating that it is possible to make revisions in the outlook if more financial support is provided to the economy, Kaplan also emphasized that he is hopeful that “significant progress” will be made this year in reaching the bar to be reached in order to reduce asset purchases.
In his speech, Kaplan stated that he would strongly oppose the use of negative interest rates in the US, and pointed out that if the new administration led by Biden provides more fiscal incentives, this could be a factor in the direction of monetary policy and said, “If the economy goes as expected, it will be about reducing asset purchases this year. “There may be some controversy in it, but it is too early to speculate about when to reduce asset purchases,” he said.
He also added that he expects broad vaccine distribution to unleash strong economic growth later this year, allowing the U.S. central bank to begin to pull back on some of its extraordinary monetary support.
“We should be as aggressive as we can be while we are in the teeth of this pandemic until we are convinced that we have weathered this pandemic,” Kaplan said in a virtual town hall event. But “later this year, my own view is, we should at least be having an earnest discussion about when it’s appropriate to taper” the Fed’s asset purchase program.
If that forecast proves correct, Kaplan said Monday, he expects the economy “will have made substantial progress” toward the Fed’s employment and inflation goals, meeting the bar for reducing its bond-buying program.
“I think it’s a healthier for the U.S. economy and for markets to wean off these extraordinary actions and this extraordinary stimulus,” he said.