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Christmas Is Near, but the News Won’t Stop. Here’s What to Follow. Christmas Is Near, but the News Won’t Stop. Here’s What to Follow.
(35 minutes later)
It’s the Friday before Christmas, but Washington is far from putting a bow on things and retreating until the new year. This poorly timed political upheaval can seem too daunting to track — especially if you’re traveling. So here are the basics, with links to our detailed coverage.It’s the Friday before Christmas, but Washington is far from putting a bow on things and retreating until the new year. This poorly timed political upheaval can seem too daunting to track — especially if you’re traveling. So here are the basics, with links to our detailed coverage.
And for a nightly rundown of the day’s top stories, subscribe to our Evening Briefing.And for a nightly rundown of the day’s top stories, subscribe to our Evening Briefing.
Last week, President Trump took ownership of a potential government shutdown over funding for a border wall with Mexico. But on Friday, he reversed his rhetoric, blaming Democrats for a possible government funding lapse, even though Republicans control Congress, and warning that a shutdown “will last for a very long time.”Last week, President Trump took ownership of a potential government shutdown over funding for a border wall with Mexico. But on Friday, he reversed his rhetoric, blaming Democrats for a possible government funding lapse, even though Republicans control Congress, and warning that a shutdown “will last for a very long time.”
The deadline for lawmakers is Friday at midnight, when funding is set to run out for several federal agencies, including the Agriculture, Commerce and Homeland Security Departments. Mr. Trump announced on Thursday that he would not sign the stopgap spending bill that the Senate had already passed, demanding funding for the border wall. Here’s how things have developed from there.The deadline for lawmakers is Friday at midnight, when funding is set to run out for several federal agencies, including the Agriculture, Commerce and Homeland Security Departments. Mr. Trump announced on Thursday that he would not sign the stopgap spending bill that the Senate had already passed, demanding funding for the border wall. Here’s how things have developed from there.
At the heart of this battle is the wall that Mr. Trump promised during the campaign. Nearly two years into his presidency, the wall has not come to fruition. But his supporters still want it, making the issue a potential risk to his re-election.At the heart of this battle is the wall that Mr. Trump promised during the campaign. Nearly two years into his presidency, the wall has not come to fruition. But his supporters still want it, making the issue a potential risk to his re-election.
President Trump is dealing with the fallout over the resignation of Jim Mattis, the defense secretary, who delivered a rebuke of Mr. Trump’s worldview on his way out. He also faces alarm over the decisions to pull American forces out of Syria and withdraw roughly 7,000 troops from Afghanistan in the coming months.President Trump is dealing with the fallout over the resignation of Jim Mattis, the defense secretary, who delivered a rebuke of Mr. Trump’s worldview on his way out. He also faces alarm over the decisions to pull American forces out of Syria and withdraw roughly 7,000 troops from Afghanistan in the coming months.
Now that Mr. Mattis is departing, the world is likely to see the unfiltered version of Mr. Trump’s “America First” foreign policy. Mr. Trump seems intent on assembling a team of advisers who will embrace a vision for the United States that includes bolstering the military but leaving international alliances to wither.Now that Mr. Mattis is departing, the world is likely to see the unfiltered version of Mr. Trump’s “America First” foreign policy. Mr. Trump seems intent on assembling a team of advisers who will embrace a vision for the United States that includes bolstering the military but leaving international alliances to wither.
Stocks on Wall Street have been vacillating between gains and losses amid the threat of a government shutdown and a signal from the Federal Reserve that it is willing to be flexible about monetary policy. After a tumultuous couple of days, the tech-heavy Nasdaq index closed on Friday down more than 20 percent from its August peak, meaning it has officially entered a bear market. The S&P 500 and Dow Jones industrial average, both of which also include the biggest tech companies, are not far behind. There have only been two bear markets in the last 20 years.
The significant losses began on Wednesday, after the Fed signaled that it planned to keep raising interest rates. On Friday morning, the president of the Federal Reserve Bank of New York said in a television interview that the Fed was open to adjusting its policy if economic growth weakens. The S&P-500 stock index rose as he spoke. Stocks on Wall Street had been vacillating between gains and losses amid the threat of a government shutdown.The significant losses began on Wednesday, after the Fed signaled that it planned to keep raising interest rates. On Friday morning, the president of the Federal Reserve Bank of New York said in a television interview that the Fed was open to adjusting its policy if economic growth weakens. The S&P-500 rose as he spoke.
Many of those gains faded soon after he was done. Turmoil in Washington and fears about the direction of the global economy gave investors little to cheer about on Friday. Many of those gains faded soon after he was done. Turmoil in Washington and fears about the direction of the global economy gave investors little to cheer about, and the S&P-500 ended up falling by more than 2 percent on Friday.
Justice Ruth Bader Ginsburg underwent surgery in New York to remove two nodules from her left lung, a Supreme Court spokeswoman said. The nodules removed during surgery were found to be malignant, but the spokeswoman said “there was no evidence of any remaining disease” in her body.Justice Ruth Bader Ginsburg underwent surgery in New York to remove two nodules from her left lung, a Supreme Court spokeswoman said. The nodules removed during surgery were found to be malignant, but the spokeswoman said “there was no evidence of any remaining disease” in her body.
Also on Friday, the Supreme Court refused to revive a Trump administration initiative barring migrants who enter the country illegally from seeking asylum. Invoking what he said were his national security powers to protect the nation’s borders, Mr. Trump made a proclamation last month that allowed migrants to seek asylum only at legal checkpoints. Chief Justice John G. Roberts Jr. joined the four-member liberal wing in deciding against the Trump administration. Also on Friday, the Supreme Court refused to revive a Trump administration initiative barring migrants who enter the country illegally from seeking asylum. Invoking what he said were his national security powers to protect the nation’s borders, Mr. Trump made a proclamation last month that only allowed migrants to seek asylum at legal checkpoints. Chief Justice John G. Roberts Jr. joined the four-member liberal wing in deciding against the Trump administration.