Trump’s cases: CNN reports that New York Judge Juan Merchan is considering dropping Donald Trump’s felony conviction in the Stormy Daniels hush money case. Trump was scheduled to be sentenced in a few days. CNN reported that Merchan may have a decision by next Tuesday. At the same time, Special Counsel Jack Smith is reported in talks at the Justice Department on dropping the federal cases that had been brought against Trump. It has been Justice Department policy not to prosecute sitting presidents.
Federal Reserve: The Federal Reserve was scheduled to make an interest rate announcement this afternoon and it is widely expected that it will announce its second interest rate cut this year. However, it is expected that the rate cut would be only a quarter of a point, compared with the first interest rate cut of one-half percent. Fed Chairman Jerome Powell is due meet with reporters after the announcement. Donald Trump has sharply criticized Powell and indicated he would replace him.Â
Unemployment: The Labor Department reported this morning that in the week ending Nov. 2, there were new unemployment insurance claims totaling 221,000, an increase of 3,000 from the previous week’s revised level. It’s believed that the recent hurricanes and the Boeing strike contributed to the increase in claims from the previous week’s level of 218,000. The Labor Department also reported that the highest insured unemployment rate in the week ending Oct. 19 was in New Jersey at 2.2%.
Fire: A wildfire has forced an estimated 14,000 people to evacuate their homes in Ventura County, California. Extremely dry conditions and winds of up to 60 miles an hour have allowed the fire to rapidly spread. Numerous homes have been destroyed. Electricity has been cut off to an estimated 70,000 customers because of concerns that damage to wires and distribution equipment can lead to additional fires being started.
Climate: Samantha Burgess, deputy director of the European climate study agency Copernicus Climate Change Service reported today that it is now virtually certain that 2024 will be the warmest year on record. Data from Copernicus showed that outside of Europe the highest above average temperatures were over northern Canada. Temperatures well above average were recorded over the central and western United States, northern Tibet, Japan and Australia. Drier-than-average conditions were seen across most of the United States, the central lowlands of Australia, much of southern Africa and Madagascar, and parts of Argentina and Chile. Donald Trump had pledged to end U.S. involvement in global efforts to combat climate change.
Fighter jets: Israel’s Defense Ministry says that it has signed a deal with Boeing to acquire 25 advanced F-15 fighter jets. The new jets are being provided as part of a military aid package for Israel that was approved by Congress and the Biden Administration. The package of new fighter jets is valued at $5.2 billion. The first planes are expected to be delivered by 2031 with from four to six planes delivered to Israel each year thereafter.
Cover photo credit: Rich Rau/Boeing
