EUR/USD 1.12511
0.227%
Gold 3331.51
0.775%
Oil 60.737
1.358%
USD/JPY 145.282
-0.441%
GBP/USD 1.32759
0.233%
GBP/JPY 192.880
-0.178%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 9, Fed Chairman Williams said on Friday that uncertainty is high and will continue to exist for some time to come. "We are going through a moment of uncertainty and change," Williams said. "There is no doubt that uncertainty will continue to be the defining feature of the monetary policy landscape for the foreseeable future," Williams said. "This is a direct result of structural changes in the global economic environment, such as changes brought about by artificial intelligence, deglobalization, and innovation in the financial system." Williams did not comment on the economic outlook or monetary policy. He also said that the independence of the central bank can bring better results.May 9th, Federal Reserve officials responsible for implementing monetary policy said on Friday that the market responded well to market pressures last month as the Fed took steps to strengthen a key liquidity tool. "Although liquidity in the U.S. Treasury cash market became tight in early April, these markets continued to function normally, in part because of the resilience of funding liquidity in the U.S. Treasury repurchase market," said Roberto Perli, manager of the Federal Reserve Systems open market account. Markets performed well during this period of stress after the Trump administration announced large-scale trade tariffs, but Perry said the experience once again showed that it was necessary for the Federal Reserve to further explore how to provide rapid liquidity to the market. Perry said the Standing Repurchase Facility (SRF) will operate in the morning and afternoon in the "near future." He noted that "these early settlement auctions, combined with the current afternoon auctions, will increase the effectiveness of the SRF as a tool for monetary policy implementation and market operations."Market news: Hungary expelled two Ukrainian diplomats.Ukrainian President Zelensky: Ukraine will hold a meeting of leaders of the "Coalition of the Willing" on Saturday.New York Fed official: Markets and financing remained orderly during last months stress.

New York property magnate contests "every element" of contempt order Trump probe

Aria Thomas

Jul 07, 2022 11:16


Cushman & Wakefield (NYSE:CWK), which appraised several properties belonging to Donald Trump, protested "every facet" of an order finding it in contempt of court in regard to subpoenas issued in a civil investigation into whether the former president manipulated asset valuations.


Justice Arthur Engoron of a New York state court in Manhattan determined Tuesday that Cushman, one of the world's largest real estate companies, was in contempt and imposed $10,000-per-day fines beginning July 7.


He chastised Cushman for delaying over its most recent date to obtain an extension to comply with subpoenas issued by New York Attorney General Letitia James, adding that the business "had only itself to blame if it chose to disregard the approaching deadlines."


Engoron acknowledged that James subpoenaed Cushman for a "vast" number of documents, but maintained that state law supported such a sweeping demand.


Cushman petitioned a state court of appeals in Manhattan to revisit the contempt ruling against Engoron and provide him extra time to comply with the subpoenas.


Cushman has indicated that it has provided over 650 assessments and several hundred thousand pages of documents since February, and has denied any charges that it has worked in bad faith.


A spokesman for James did not immediately respond to requests for comment.


James, a Democrat, is investigating whether Trump and his family business, the Trump Organization, inflated the assessments of golf courses, hotels, and other real estate to qualify for favorable loans then dropped the prices to avoid paying taxes.


Her office's ability to acquire documents is vital as it prepares to subpoena Trump and two of his adult children, Donald Trump Jr. and Ivanka Trump, on July 15.


Trump, a Republican, has called James' inquiry a "politically motivated witch hunt."


When Engoron convicted him in contempt on April 25, he paid $110,000 in fines. On Monday of last week, the court lifted the contempt order.

Suggestion