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December dip continues...Trump blasts Fed...Madoff secretary seeks early release

December 24, 2018

NEW YORK (AP) — The major stock indexes have fallen more than 2 percent today, nudging the market closer to its worst year since 2008. Stocks are also on track for their worst December since 1931, during the depths of the Great Depression. One analyst at the Wharton School of Business, attended by President Donald Trump, says Trump’s attacks on the Federal Reserve have proven to be a disaster. The Dow sank 653 points. The S&P slid 66 points and the Nasdaq skidded 140 points.

WASHINGTON (AP) —President Donald Trump lashed out at the Federal Reserve after administration officials spent the weekend trying to assure the public and financial markets that Jerome Powell’s job as Fed chairman was safe. On Wall Street, stocks had already been down but intensified their fall after Trump’s tweet.

WASHINGTON (AP) — President Donald Trump has met with his Homeland Security secretary and other officials to discuss border security issues. The meeting came amid a partial government shutdown over his U.S.-Mexico border wall that enters Christmas without a clear resolution in sight. Though both sides have traded offers over the dollars, they remain far apart on the wall.

WASHINGTON (AP) — President Donald Trump’s largely unknown choice for acting Pentagon chief is moving into the military hot seat. Trump tweeted Sunday that Deputy Defense Secretary Patrick Shanahan will take over as acting head of the department on Jan. 1, elevating the former Boeing Co. senior executive with little experience in international affairs. His time at the Pentagon has been mainly focused on the business side of the department and its budget that exceeds $700 billion.

NEW YORK (AP) — A lawyer for the former secretary of imprisoned financier Bernard Madoff is asking that she be released from prison in March. Attorney Roland Riopelle says 70-year-old Annette Bongiorno (bahn-JAWR’-noh) will have served two thirds of her six-year prison term by March 19 and should be released by then. He cited a law signed by President Donald Trump last week, saying it permits judges to order some prisoners released to home confinement after serving two-thirds of a sentence.

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