FirstFT: ‘Presidential immunity’ ruling boosts Donald Trump and dismays Democrats

2 days ago

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Trump - Figure 1 — Photo Financial Times

Responses to the US Supreme Court's decision regarding Donald Trump's immunity are still causing strong reactions in both political parties.

Yesterday, the court decided by a vote of 6-3 that American presidents should be protected from criminal charges when using their core constitutional powers. This decision has caused concern for those on the left and has given a boost to the Trump campaign leading up to the November election.

As a result, it is likely that some of the accusations from January 6 against the ex-president will be dismissed. Trump's legal team has also requested that the judge who previously found him guilty in the "hush money" case reconsider their decision.

Trump expressed his approval of the ruling on social media, stating that it was a significant victory for our Constitution and democracy.

However, this choice is another setback for the Biden campaign, as they continue to support a candidate that 72 percent of registered voters believe should not be running.

Blog post: The FT's Joe Miller breaks down the most important aspects of the Supreme Court decision.

Markets: UC Berkeley professor Barry Eichengreen believes that the outcome of November's election will determine the future of the US dollar.

Here are some other things I'm paying attention to today:

Trump - Figure 2 — Photo Financial Times

Diplomats from the United Nations Security Council will gather for a meeting to discuss issues in the Middle East.

Central banks: Jay Powell, the head of the Federal Reserve, is present at a conference hosted by the European Central Bank in Portugal.

Orbán travels to Ukraine: Hungary's leader will visit Ukraine's President Volodymyr Zelenskyy in his initial journey to the country during a time of conflict.

More Top Stories Added

Boeing is being given the choice to admit to committing a serious crime or face a trial with the US government. The Department of Justice has presented these terms to the company after accusing them of breaking the deal made in 2021 following the tragic crashes of two 737 Max airplanes.

The US is looking into implementing a potential carbon pricing system on imported goods, according to climate envoy John Podesta. This is aimed at addressing the issue of foreign producers taking advantage of the system without paying their fair share.

Panama's President José Raúl Mulino has promised to stop illegal immigration through the Darién Gap and work with the US government to prevent migrants from traveling north through the continent.

4. An advisor to Iran's top leader has cautioned in an interview with the FT that Iran would use every possible method to support Hizbollah if Israel were to start a major war.

Trump - Figure 3 — Photo Financial Times

The Boston Celtics owners have announced their intentions to sell the team, with hopes of receiving a historically high price. Forbes valued the team at $4.7 billion in October.

Chinese factories are feeling anxious about the upcoming holiday season due to recent attacks in the Red Sea and strong protectionist language from both Joe Biden and Donald Trump. This has led to higher costs and longer wait times for exporting goods to customers in the West.

Exploring Books And Podcasts Too!

Janet Truncale, the new chief at EY, is facing criticism for her alternative growth strategy that is said to lack specific details.

French election: The Rassemblement National party in France will look for supporters to help create a government with the majority, according to their leader Marine Le Pen. Pressure is mounting on centrist and left-wing candidates to work together to stop the far-right from gaining power.

The Economics Show????: FT writer Soumaya Keynes has a conversation with John Burn-Murdoch, the FT's lead data reporter, about the evolving situation in US and UK politics.

Day's Chart

Borrowing in both top-quality and lower-rated US debt markets has gone up this year. However, bankers are unsure if this trend will continue because of uncertainty surrounding the upcoming US presidential election and when rate cuts will take place.

Unplug And Relax

Bryan Johnson, shown in the image, marks his birthday every 19 months, saying that he only feels like he ages 7.6 months in a year. Johnson, who leads a new movement in Silicon Valley focused on wellness, has tried methods like transfusing his son's blood plasma to slow down the aging process. In this article, Rhymer Rigby explores the idea of whether good health can be purchased.

Additional input from Benjamin Wilhelm and Irwin Cruz