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President Donald Trump offered fresh support on Wednesday for background checks for gun buyers as he visited two cities devastated by gun violence, and said the Federal Reserve was a bigger problem for the economy than China.
‘ALL IN FAVOR’ OF BACKGROUND CHECKS
Trump said he was “all in favor” of background checks, after leaving that proposal out of televised comments Monday in the wake of the weekend shootings in Dayton, Ohio, and El Paso, Texas.
Trump similarly vowed to be “very strong” on background checks following the deadly shooting at a Parkland, Fla., high school in February 2018. But a year later he threatened a veto of a House bill that would have required such checks. Speaking to reporters before departing for Dayton and El Paso, Trump also said there was “no political appetite” for banning assault weapons. Yet many Democratic presidential contenders including frontrunner Joe Biden support such a ban.
The president rejected suggestions that his rhetoric has contributed to violence, saying “I think my rhetoric brings people together.” Among Trump’s critics is Democratic presidential hopeful Beto O’Rourke, who has suggested that the president’s language about immigrants helped inspire the El Paso shooter. Trump told O’Rourke to “be quiet” in a Twitter post before midnight.
Trump met with survivors, families and staff at Miami Valley Hospital in Dayton. “You had God watching. I want you to know we’re with you all the way,” Trump said, according to White House press secretary Stephanie Grisham. There were reportedly protesters holding signs along Trump’s motorcade route urging him to support tougher gun laws.
Now see: These lawmakers receive the most campaign money from gun-rights backers like the NRA.
THE FED AND CHINA
Trump amplified his criticism of the Federal Reserve in a series of tweets, following interest-rate cuts by the central banks of India, New Zealand and Thailand.
Not content with the quarter-point rate cut approved on July 31, Trump said the Fed “must Cut Rates bigger and faster and stop their ridiculous quantitative tightening NOW.” With markets DJIA, -0.25% COMP, +0.26% SPX, -0.06% shaken by the U.S.-China trade dispute, Trump said Beijing wasn’t the problem but rather, “Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much (and that I was right!).”
See: Dow heads more than 350 points lower midday as 10-year Treasury plumbs lows.
In fact the Fed already said at last week’s meeting that it would end so-called quantitative tightening — or reducing its balance sheet — beginning Aug. 1.
Now read: Fed cuts interest rates by quarter point, but rules out significant easing.
Trump told reporters he thought the market reaction to trade tensions with China was anticipated and said “ultimately it’s going to go much higher than it ever would’ve.” He didn’t specify a timeline.
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