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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Trump Seeks ‘Absolute Immunity’ for Ex-Presidents: Legal Battle Heads to Supreme Court


In a significant legal maneuver, former President Donald Trump has petitioned the U.S. Supreme Court to grant him “absolute immunity” from criminal prosecution for his official acts during his tenure. The case, set to be argued before the justices on April 25, has far-reaching implications for presidential accountability and the delicate balance between executive power and legal scrutiny.

Trump’s legal team contends that a former president should enjoy absolute immunity from criminal charges related to official actions taken while in office. They argue that subjecting ex-presidents to criminal prosecution would hinder the functioning of the presidency and compromise its independence. According to their filing, “The president cannot function, and the presidency itself cannot retain its vital independence, if the president faces criminal prosecution for official acts once he leaves office.”

The legal battle stems from a criminal case initiated by Special Counsel Jack Smith. In August 2023, Smith brought federal criminal charges against Trump, including conspiracy to defraud the United States, obstructing the congressional certification of Joe Biden’s electoral victory, and conspiring against Americans’ right to vote. These charges relate to Trump’s alleged efforts to subvert the electoral process and remain in power.

Trump’s case marks the first time a former president faces criminal prosecution. If the Supreme Court rules in his favor, it could set a precedent for future ex-presidents. However, opponents argue that granting absolute immunity would undermine accountability and allow presidents to evade legal consequences for their actions.

Special Counsel Smith emphasizes the compelling public interest in seeing the charges brought to trial promptly. He contends that the alleged crimes strike at the heart of democracy and that a former president charged with subverting the electoral process should not escape accountability.

As the legal battle unfolds, the Supreme Court’s decision will shape the boundaries of presidential immunity and impact the delicate balance between executive power and the rule of law. The outcome will reverberate through history, affecting not only Trump but also future occupants of the Oval Office.


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