Trump says he wants 1pc rates, would ‘love' if Powell resigned
Washington | US President Donald Trump said on Friday (Saturday AEST) he would love if Federal Reserve chairman Jerome Powell were to resign while also saying that he wanted interest rates cut to 1 per cent.
'I'd love him to resign if he wanted to, he's done a lousy job,' Trump said, while also labelling the Fed chairman as 'a stubborn mule and a stupid person' for not supporting rate cuts. The Fed last week decided to leave rates unchanged in the range of 4.25 per cent-4.5 per cent, where they've held since the beginning of the year.
Reuters
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Perth Now
31 minutes ago
- Perth Now
Bombing kills 13 Pakistani soldiers near Afghan border
An explosive-laden car has rammed into a Pakistani military convoy in a town near the Afghan border, killing at least 13 soldiers, sources said. Four Pakistani intelligence officials and a senior local administrator told Reuters that the convoy was attacked on Saturday in Mir Ali area of North Waziristan district. Around 10 other soldiers were wounded, some critically, and they were being flown to a military hospital, the sources said. The office of the chief minister of Khyber Pakhtunkhwa province said it was a suicide bombing, adding it killed eight security officials. Chief Minister Ali Amin Gandapur condemned the bombing and offered condolences to the soldiers' families. "It was huge, a big bang," the local administrator told Reuters, adding that residents of the town could see a large amount of smoke billowing from the scene from a great distance. One resident said that the explosion rattled the windowpanes of nearby houses, and caused some roofs to collapse. No one has so far claimed responsibility. The Pakistani military did not respond to a Reuters request for a comment. The lawless district that sits next to Afghanistan has long served as a safe haven for different Islamist militant groups, who operate on both sides of the border. Islamabad says the militants run training camps in Afghanistan to launch attacks inside Pakistan, a charge Kabul denies, saying the militancy is Pakistan's domestic issue. Pakistani Taliban also known as Tehreek-e-Taliban Pakistan, an umbrella group of several Islamist militant groups, has long been waging a war against Pakistan in a bid to overthrow the government and replace it with its own Islamic system of governance. The Pakistani military, which has launched several offensives against the militants, has mostly been their prime target.
News.com.au
2 hours ago
- News.com.au
Rwanda, DR Congo sign peace deal in US after rebel sweep
Rwanda and the Democratic Republic of Congo signed a peace agreement Friday in Washington to end fighting that has killed thousands, with the two countries pledging to pull back support for guerrillas -- and President Donald Trump boasting of securing mineral wealth. "Today, the violence and destruction comes to an end, and the entire region begins a new chapter of hope and opportunity," Trump said as he welcomed the two nations' foreign ministers to the White House. "This is a wonderful day." The agreement comes after the M23, an ethnic Tutsi rebel force linked to Rwanda, sprinted across the mineral-rich east of the DRC this year, seizing vast territory including the key city of Goma. The deal -- negotiated through Qatar since before Trump took office -- does not explicitly address the gains of the M23 in the area torn by decades of on-off war but calls for Rwanda to end "defensive measures" it has taken. Rwanda has denied directly supporting the M23 but has demanded an end to another armed group, the Democratic Forces for the Liberation of Rwanda (FDLR), which was established by ethnic Hutus linked to the massacres of Tutsis in the 1994 Rwanda genocide. The agreement calls for the "neutralization" of the FDLR, with Rwandan Foreign Minister Olivier Nduhungirehe saying the "irreversible and verifiable end to state support" to the Hutu militants should be the "first order of business." The process would be "accompanied by a lifting of Rwanda's defensive measures," Nduhungirehe said at a signing ceremony at the State Department. But he added: "We must acknowledge that there is a great deal of uncertainty in our region, and beyond, because many previous agreements have not been implemented." His Congolese counterpart, Therese Kayikwamba Wagner, highlighted the agreement's call for respecting state sovereignty. "It offers a rare chance to turn the page, not just with words but with real change on the ground. Some wounds will heal, but they will never fully disappear," she said. The agreement also sets up a joint security coordination body to monitor progress and calls vaguely for a "regional economic integration framework" within three months. - Trump takes credit - Trump has trumpeted the diplomacy that led to the deal, and started his White House event by bringing up a journalist who said he deserved the Nobel Peace Prize. Speaking to reporters earlier Friday, Trump said the United States will be able to secure "a lot of mineral rights from the Congo." The DRC has enormous mineral reserves that include lithium and cobalt, vital in electric vehicles and other advanced technologies, with US rival China now a key player in securing the resources. Trump said he had been unfamiliar with the conflict as he appeared to allude to the horrors of the 1994 Rwanda genocide, in which hundreds of thousands of people, mostly Tutsis, were killed in just 100 days. "I'm a little out of my league on that one because I didn't know too much about it. I knew one thing -- they were going at it for many years with machetes," Trump said. The agreement drew wide but not universal praise. UN Secretary-General Antonio Guterres called the deal "a significant step towards de-escalation, peace and stability" in the eastern DRC and the Great Lakes region. "I urge the parties to honour in full the commitments they have undertaken in the Peace Agreement... including the cessation of hostilities and all other agreed measures," Guterres said in a statement. The landmark agreement was also praised by the chairman of the African Union Commission. Mahmoud Ali Youssouf, who witnessed the signing of the deal in Washington, "welcomed this significant milestone and commended all efforts aimed at advancing peace, stability, & reconciliation in the region," a statement said. But Denis Mukwege, a gynecologist who shared the 2018 Nobel Peace Prize for his work to end the DRC's epidemic of sexual violence in war, voiced alarm about the agreement, saying it effectively benefited Rwanda and the United States. The deal "would amount to granting a reward for aggression, legitimizing the plundering of Congolese natural resources, and forcing the victim to alienate their national heritage by sacrificing justice in order to ensure a precarious and fragile peace," he said in a statement ahead of the signing. Physicians for Human Rights, which has worked in the DRC, welcomed the de-escalation but said the agreement had "major omissions," including accountability for rights violations.
The Age
3 hours ago
- The Age
Living in the fifties is not progress
No case for SRL There is no credible case that we need the SRL. It's envisaged for a Melbourne that doesn't exist, and may never exist. The catchcry that 'Melbourne will be the size of London by 20XX' is a red herring. If you superimpose a map of London public transport over Melbourne, you see nothing resembling the SRL (the Croydon Tramlink is a tram – it lacks the speed and capacity of heavy rail). What you do see is many extra links in the inner suburbs that the government has no plans to implement. To create the demand to justify it (which would be a complete transformation from what is there now) would entail also creating demand for local transport options, eg, local trams or buses with tramlike frequency servicing the surrounds of each of the new stations (and preferably joining up the networks in between), none of which is part of the SRL plan (and if it were it would multiply the cost many times over). It's such an immense distraction from the lack of adequate services in so many areas where the demand exists now but is not being catered to. Samuel McMahon, Parkville Remember Gaza? Israel attacks Iran, America attacks Iran, Iran attacks Israel. Donald Trump calls a ceasefire. The World relaxes. Meanwhile, in forgotten Gaza, thousands starve and hundreds die. Daniel Cole, California Gully Nature equals wellbeing I strongly agree with Ken Henry: our natural environment is very important to our wellbeing, from trees in suburban streets to what's left of the original bush (″ Nature is critical to productivity ″, 25/6). It is good to see a clear, logical explanation of why environmental law reforms are a critical component of the productivity agenda. We should extend the definition of GDP to include not just the monetary value of goods and services created, but the non-monetary value of our natural capital of forests, national parks, oceans and other less developed assets. We could allow for the enjoyment of nature in an overall measure of quality of life. This revised definition of GDP would use many assumptions about the relative value of material goods v the use and experience of nature. Any fall in GDP per head would immediately identify problems with our ″natural capital″. Treasurer Jim Chalmers is convening a productivity summit in August, followed by a tax forum. Now would be the time for Henry to prepare submissions for these conferences. He prepared a detailed report on tax reform back in 2009, with 138 recommendations. Few were implemented. I wish him well this time around, especially for his ″high-integrity environmental laws″. John Hughes, Mentone Overblown view Your correspondent's take (Letters, 27/6) that Julian Assange helped to make Donald Trump 'who has not the slightest interest in accountability' vis-a-vis his selective leaks during the 2016 election campaign, is overblown. On the contrary, the American people made the ″monster″ by re-electing him twice over thereby cementing his unfettered powers that has effectively facilitated his unchecked dismantling of democracy pillars. Not to mention that the Wikileaks material has been sourced by journalists the world over for its veracity. Jelena Rosic, Mornington St Kilda memories I love St Kilda (″ Facing up to boho blues: How St Kilda living lost its lustre ″, 28/6) the Palais, the waterfront, the Acland Street cake shops, Luna Park, Catani Gardens and more. As a child my family were regulars at Leo's Spaghetti Bar on Fitzroy Street and the Fairy Stork Chinese restaurant on Ackland Street. Then as a teenager I graduated to the Prince of Wales, the Venue and the Palace, seeing bands such as Hunters and Collectors and Hoodoo Gurus and on occasion even visiting Bojangles. I'm sad to see empty shop fronts and the turn some parts of the area have taken. We need to be regular visitors to the area as we don't have any other place like this in Melbourne and we will only realise what we have lost when it is gone. Samantha Keir, East Brighton Farewell to Kyiv Foreign correspondent Rob Harris reminds Ukrainians how Kyiv has survived through the ages and continues to defy Putin (″ The city that continues to defy Putin ″, 27/6) . How life goes on as normal. Bars are packed, streets hum with life. The war is not lost as Russia says it is ready for peace talks. Harris in his final visit alongside World Vision Australia says he will not forget Kyiv. I am sure Kyiv will not forget him. George Jaworsky, Wollert Not wedded to this Why do we need to see days of the wedding excesses of Jeff Bezos and Lauren Sanchez? Are there really people out there who watch it and don't realise these people are just revelling in their advantage over the rest of us? I don't understand why so much coverage was given to this in Australia. Maureen Gunn, Strathmore
