Trigg Minerals (TMG:AU) has announced ANTIMONY EXEMPT FROM US TARIFF POLICY
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Elon Musk’s high-profile role in the Trump administration is dominating headlines. His DOGE recommendations are roiling the Washington establishment. His young staffers with backpacks are looking at waste in multiple government agencies, and he himself is frequently advising the president. While Musk’s prominent role is certainly unusual, history reveals some parallels to presidential advisers who have had an enormous influence in previous administrations. History also shows that having a high-profile non-traditional role also paints a big target on your back.
One of the first uber-powerful outside advisers was in the Woodrow Wilson administration. House was a wealthy Texan who had been advising Democratic politicians in his home state when he connected with then-New Jersey Governor Wilson.
When Wilson won the presidency, House had little interest in a Cabinet slot. According to Wilson’s personal physician Cary Grayson, House ‘wanted no office himself and his one desire, it seemed, was to be helpful to the President in the selection of men for appointments.’
House became Wilson’s main foreign policy adviser. He lived in the White House, which gave him access day and night to Wilson, and controlled the flow of information to Wilson. House recalled that Wilson ‘seldom reads the newspapers and gains his knowledge of public affairs largely from the matter brought to his attention….’ With House culling what was brought to Wilson’s attention, it’s unsurprising that Wilson once called House ‘my second personality,’ adding ‘his thoughts and mine are one.’
House’s influence grew with America’s entry into World War I in 1917. House came up with the idea for and populated The Inquiry, a proto think tank that examined the potential scenarios in the war’s aftermath. Wilson’s famous 14 Points speech, laying out his framework for a post-war world, was based on a draft written by Inquiry member Walter Lippman and then refined by House and Wilson. As House recalled his efforts on that speech, he and Wilson ‘finished remaking the map of the world…at half past twelve o’clock.’
Although the war initially increased House’s power, it also set the stage for his downfall. There was resentment within the White House and the State Department about House’s outsized role. Wilson’s second wife Edith did not much like him, either. Wilson also felt that House conceded too much to the European powers in the Versailles negotiations. House further pushed his luck by urging Wilson to negotiate with Senate Republicans to secure passage of the Versailles Treaty, good advice that Wilson did not want to hear.
On June 28, 1919, House and Wilson met for the last time as Wilson was about to return to the U.S. to begin his ultimately unsuccessful effort to ratify the treaty. He said, ‘Good-by, House,’ and the two men never spoke again.
Franklin Roosevelt also had a top administration priority run by a man with a military title in a non-traditional appointment. Ex- was working for the wealthy investor and Democratic fixer Bernard Baruch when he became a member of Roosevelt’s ‘Brain Trust.’ He then headed Roosevelt’s new National Recovery Administration, where, according to the New York Times, he was given ‘almost unlimited powers.’
Johnson’s job as head of the NRA was to get companies to adhere to Roosevelt’s New Deal policies. Here the similarities to DOGE are apparent, except NRA was initially an executive branch creation targeting the private sector, while DOGE aims to rein in government. Congress created the NRA, and Roosevelt signed it into law, on June 16, after Johnson had started. Within one month, Johnson got 2 million companies to sign on to the NRA codes, allowing them to display the ‘Blue Eagle’ of compliance.
Johnson used heavy-handed tactics to get companies to comply. Ford founder Henry Ford learned this firsthand when he refused to sign on. In response, Johnson criticized Ford publicly and went to Michigan to confront Ford, even threatening to sic the Department of Justice on Ford. Ford pushed back, issuing a company statement saying that Johnson was ‘assuming the airs of a dictator.’
Ford’s resistance notwithstanding, Johnson was lionized by the press, and he was named TIME’s ‘Man of the Year’ in 1933. The power and accolades, however, seemed to go to Johnson’s head. His former employer Baruch warned FDR that Johnson was ‘a born dictator.’ Cabinet members like Labor Secretary Frances Perkins and Treasury Secretary Henry Morgenthau complained about him as well, but Roosevelt defended Johnson, saying that ‘every administration needed a Peck’s Bad Boy.’ Roosevelt even spurned an offer from Johnson to resign, prompting Johnson to tell the press, ‘My feet are nailed to the floor for the present… I am not going to resign.’
Despite Roosevelt’s initial support, the pressure eventually became too great. Roosevelt forced Johnson to resign in September of 1934. In his resignation speech, Johnson called the NRA ‘as great a social advance as has occurred on this earth since a gaunt and dusty Jew in Palestine declared, as a new principle in human relationship, ‘The Kingdom of Heaven is within you.’’ Johnson’s love for the administration that ousted him did not last, though, as he became a Roosevelt critic, particularly of Roosevelt’s effort to remake, or ‘pack’ the Supreme Court that had invalidated Johnson’s NRA in 1935.
In Roosevelt’s third term, he changed priorities from what he called ‘Dr. New Deal’ to ‘Dr. Win the War.’ In this, one of his top needs was to shift America’s industrial base to producing war material. To do so, Roosevelt needed someone not from government but from the private sector that he had spent much of his first two terms trying to bring to heel. FDR looked to Baruch for advice. Baruch responded: ‘First, Knudsen. Second, Knudsen. Third, Knudsen.’ Baruch was referring to , president of General Motors, at the time the largest company on earth. FDR called Knudsen, who forgo an enormous $300,000 salary – about $6.5 million today – to become a dollar-a-year man in Washington. FDR also made Knudsen a lieutenant general in the Army, an unusual move for someone coming directly from the civilian ranks.
Like House and Johnson before him – and Musk in our day – Knudsen had his critics. New Dealers were angry that Knudsen refused to shut down the production of cars for civilian use. Knudsen held his ground before FDR, explaining that shutting down production would necessitate closing the plants, which would get in the way of war production.
Criticism notwithstanding, Knudsen did his job well. In marshaling America’s industrial might to help the United States and its allies, Great Britain and the Soviet Union, win the war, Knudsen got some praise from an unusual source. At the 1943 meeting of the Big Three allies in Tehran, Josef Stalin proposed a toast ‘to American production, without which this war would have been lost.’ It might as well have been a toast to Knudsen himself.
Following the war, TIME founder saw in Dwight Eisenhower an opportunity to return Republicans to the White House. Luce backed Eisenhower in a variety of ways: with favorable TIME coverage, foreign policy advice, and the loan of several staffers to Eisenhower’s 1952 presidential campaign. When Eisenhower won, some of the Luce people joined the administration, and Luce’s wife Clare Boothe Luce served as ambassador to Italy.
During Eisenhower’s administration, Luce continued to provide both advice and favorable coverage, although the latter came at a cost. TIME staffers did not like serving as ‘Eisenhower’s mouthpiece.’ More broadly, TIME began to be seen as biased towards the Republicans, an example of reputational damage stemming from being too close to a sitting administration.
In the Nixon administration, another prominent CEO would take a hit for his closeness to a Republican president. In 1968, long before was a presidential candidate, the Texas billionaire and founder of EDS met Richard Nixon through PepsiCo Chairman Donald Kendall. Perot, who had become rich selling data processing to the federal government, told Nixon that computers could be an important tool in a presidential campaign. He provided 10 paid employees – and an EDS airplane – to the Nixon campaign to demonstrate how it could be done.
When Nixon won, Perot became a presence in the Nixon White House. He never took an official position, but he did join the Nixon Foundation, and was a source of ideas, staff, and money – or at least promises of money. He also highlighted the issue of American POWs held by the North Vietnamese, something that the Nixon administration appreciated. For its part, the Nixon administration helped Perot as well, siding with EDS in some government contract disputes and aiding EDS in its efforts to secure additional contracts.
While helpful in some ways, Perot was also a pest. Some of his ambitious plans, like buying the Washington Post or ABC to improve their Nixon coverage, did not come to fruition. Still, the idea of a billionaire buying a platform that could aid a president politically has at least some familiarity. In addition, Nixon White House aide Gordon Strachey characterized him as ‘Difficult to please Perot.’
The Nixon link would eventually cost Perot. The Nixon administration asked Perot to help the struggling but prominent Wall Street firm F. I. Dupont, Glore Forgan and Co. Perot initially put in $10 million, then poured in more, ultimately totaling $100 million. In the end. Dupont fell apart, and EDS stock plummeted from $162 a share to $10, significantly reducing Perot’s net worth. As Perot later recalled, ‘They said it was a $5 million problem. So we waded in like Boy Scouts and then found out the vault was out of control.’
When Perot later ran for president in 1992, he lost to Bill Clinton. As president, Clinton enlisted his former Rhodes Scholar friend and business consultant as staff director of his health care task force. Magaziner had eschewed offers of a Cabinet slot to help direct the administration’s biggest issue. Magaziner enlisted hundreds of volunteers, many from the private sector, to work on the task force, working 15-hour days in 30 different sub-task forces, and meeting with Clinton on a nearly daily basis.
Like Musk, Magaziner tried to attack a challenging problem in a new way. As his wife Suzanne said of him, ‘Ira is always trying to redefine the square. He’s not constrained by limits just because they’re there.’ He also took his share of hits. The Washington Post’s Steven Pearlstein said of Magaziner that ‘There is about him a supreme self-confidence that sometimes slips into arrogance.’
Ultimately, the health effort failed, and Republicans took control of the House and Senate in part because of the backlash against the Magaziner-led initiative. The American Association of Physicians and Surgeons sued the administration, arguing that non-governmental appointees could have meetings with governmental officials that were not open to the public. Federal Judge Royce Lamberth ruled that Magaziner was ‘misleading at best’ in the discovery process. Lamberth added that the government needed to be ‘accountable when its officials run amok,’ and fined Magaziner more than $285,000.
Magaziner offered to resign after the health care failure, but Clinton refused the resignation. Magaziner remained a White House adviser on internet-related issues through 1998, and his fine was eventually reversed on appeal in 1999.
Clearly, no one is or could be exactly like Elon Musk: a mega-billionaire who runs electric car, social media, and space exploration companies while running a powerful government commission identifying waste, fraud, and abuse. But there have certainly been other prominent private sector actors who have worked on presidential priorities in non-traditional ways, bringing in their own people in the process. And there have also others who have been accused of arrogance and conflicts of interest, pilloried in the press and subjected to financial and reputational hits. The biggest open question is what happens in this kind of relationship between the president and the adviser. Whether the Musk-Trump relationship survives this experience remains the biggest and most interesting question out there.
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The Trump administration is slashing millions of dollars in DEI grants from a library and museum system as part of its overall Department of Government Efficiency (DOGE) push to rid the government of waste, fraud and abuse.
The administration is cutting $15 million from the Institute of Museum and Library Services (IMLS) in the form of diversity, equity and inclusion (DEI) grants in a move the agency says is aligned with both DOGE and President Donald Trump’s executive orders aimed at eliminating DEI from the federal government.
The grants include $6.7 million to the California State Library to enhance equitable library programs and $4 million to the Washington State Library for diverse staff development and incarcerated support.
A $1.5M DEI grant to the Connecticut State Library system to ‘integrate social justice, diversity, equity, and inclusion’ into their daily operations is also being cut along with $700,000 for a Washington, D.C.-based nonprofit to study ‘post-pandemic DEI practices’ in American children’s museums that would formulate ‘enhanced equity-focused strategies.’
Additionally, a DEI grant of $265,000 going to Queens College in New York to conduct a research project on why ‘BIPOC’ teens read Japanese comic books will be cut along with $250,000 to fund the ‘Gay Ohio History Initiative’ to erect 10 ‘LGBTQ+ historical markers’ will be cut.
‘In keeping with the vision of the President’s executive orders, we are taking action to end taxpayer funding for discriminatory DEI initiatives in our nation’s museums and libraries,’ Acting IMLS Director Keith Sonderling told Fox News Digital in a statement.
‘Our cultural institutions should bring Americans together—not promote divisive ideologies. Moving forward, we must champion programs that uphold our founding ideals and reaffirm that the American Dream is within reach for all, through hard work and determination, not identity politics.’
The grant cuts come after IMLS reportedly cut 80% of its staff in a move aimed at slashing the bloated federal government while saving taxpayers additional millions.
A recent study by the American Academy of Arts & Sciences found that federal funds represent only 0.3% of the total operating revenue for public libraries. The vast majority of funding comes from state and local sources.
The Institute of Museum and Library Services was one of seven government agencies targeted in Trump’s ‘Continuing the Reduction of the Federal Bureaucracy’ executive order last month.
Trump’s DOGE efforts have saved the American taxpayer $140 billion, according to its website, which represents almost $900 saved per taxpayer.
The Trump administration says it has slashed hundreds of millions of dollars in DEI contracts, including at least $100 million at the Department of Education.
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President Donald Trump said Sunday that he is not willing to make a deal with China unless the trade deficit of over $1 trillion is resolved first.
While speaking to reporters on Air Force One, Trump said with some countries there is a trade deficit of over a billion dollars, but with China, it is over $1 trillion.
‘We have a $1 trillion trade deficit with China. Hundreds of billions of dollars a year we lose to China, and unless we solve that problem, I’m not going to make a deal,’ he said. ‘I’m willing to make a deal with China, but they have to solve this surplus. We have a tremendous deficit problem with China… I want that solved.’
Trump also said because of the tariffs, the U.S. has $7 trillion of committed investments when it comes to building automotive manufacturing plants, chip companies and other types of businesses, ‘at levels that we’ve never seen before.’
But in terms of trade deficits, Trump said he has spoken with a lot of leaders in Europe and Asia, who are ‘dying’ to make a deal, but as long as there are deficits, he is not going to do that.
‘A deficit is a loss,’ he said. ‘We’re going to have surpluses, or we’re, at worst, going to be breaking even. But China would be the worst in the group because the deficit is so big, and it’s not sustainable.
‘I was elected on this,’ Trump added.
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White House Economic Council Director Kevin Hassett doubled down on the effectiveness of President Donald Trump’s tariffs on Sunday, saying dozens of countries are now seeking to open negotiations and U.S. manufacturing is booming.
Hassett made the claim during an appearance on ABC News’ ‘This Week’ with host George Stephanopoulos. He said that over 50 countries have already said they want to negotiate new trade agreements with Trump’s administration since the tariffs hit last week, though he acknowledged there may be short-term pain for consumers.
He pointed to the decrease in prices that has existed since China entered the World Trade Organization in 2000, arguing that the loss of jobs outweighs the low prices.
‘If cheap goods were the answer, if cheap goods were going to make Americans’ real wages better off, then real incomes would have gone up over that time. Instead, they went down because wages went down more than prices went down. So we got the cheap goods at the grocery store, but then we had fewer jobs,’ he said.
Hassett added that he has received ‘anecdotal word’ that some U.S. auto plants are adding second shifts to their work schedules in response to the tariffs.
Stephanopoulos then pressed Hassett to explain why Russia wasn’t targeted with any additional tariffs.
‘There’s obviously an ongoing negotiation with Russia and Ukraine, and I think the president made the decision not to conflate the two issues. It doesn’t mean that Russia in the fullness of time, is going to be treated wildly different than every other country,’ Hassett responded.
‘But Russia’s one of the only countries, one of few countries that is not subject to these new tariffs, aren’t they?’ Stephanopoulos pressed.
‘They’re in the middle of a negotiation, George, aren’t they?’ Hassett countered. ‘Would you literally advise that you go in and put a whole bunch of new things on the table in the middle of a negotiation that affects so many American and Ukrainian and Russian lives?’
‘Negotiators do that all the time,’ Stephanopoulos argued.
‘Russia is in the midst of negotiations over peace that affects really thousands and thousands of lives of people and that’s what President Trump’s focused on right now,’ Hassett said.
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Israeli Prime Minister Benjamin Netanyahu is expected to meet President Donald Trump at the White House on Monday, with Washington’s recently imposed global tariffs set to be part of their talks.
‘This meeting comes at a critical moment on many key issues: the efforts to return our hostages being held by Hamas, the instability in Syria and the threats posed by Iranian proxies,’ Israeli Ambassador to the U.S. Yechiel Leiter told Fox News Digital.
‘The recent implementation of tariff policy will also be discussed. Just as Prime Minister Netanyahu was the first world leader to visit President Trump in his second term in the White House, he is now once again the first leader to meet with the president with regard to deepening economic ties and putting trade relations in order,’ he added.
Netanyahu last met with Trump in Washington on Feb. 4.
In Wednesday’s ‘Liberation Day’ announcement, a 17% tariff on goods imported from Israel – a 10% baseline on all countries that took effect on April 5 and an additional 7% – was scheduled for April 9.
‘The fear is that these tariffs will hurt exports of diamonds as well as high-tech or defense systems like drones. If our income were to be reduced as a result, this would be a problem,’ Alex Coman, a value-creation expert at the Holon Institute of Technology in Israel, told Fox News Digital.
‘These tariffs came as a surprise. Prior to this decision, there were very few imposed, many products did not have them and Israeli Finance Minister Bezalel Smotrich eliminated those that existed,’ adding, ‘As such, I am very optimistic that these tariffs will be reduced.’
U.S. total goods trade with Israel was an estimated $37.0 billion in 2024, including $14.8 billion in exports, up 5.8% ($813.7 million) from 2023, according to the Office of the United States Trade Representative. U.S. goods imports from Israel totaled $22.2 billion in 2024, up 6.7% ($1.4 billion) from the previous year.
The U.S. trade deficit with Israel was $7.4 billion in 2024, an 8.6% increase ($587.0 million) over 2023.
The Trump administration reportedly calculated the tariff by dividing the trade deficit ($7.4 billion) by the value of imports to America ($22.2 billion) and then essentially halving the figure to reach 17%.
The subject was raised during a phone call between Trump and Netanyahu on Thursday, with Hungarian Prime Minister Viktor Orbán also taking part. The next day, Secretary of State Marco Rubio spoke with the Israeli premier to ‘underscore U.S. support for Israel,’ according to a U.S. readout of the call.
Trump’s move surprised Netanyahu, prompting him to begin efforts to negotiate a reduction of the tariff to 10%. Smotrich also signed an order to eliminate the last remaining Israeli tariffs on the import of primarily agricultural goods from the U.S.
Jerusalem and Washington signed a free trade deal in 1985, the United States’ first-ever such agreement, and since then some 98% of goods have been traded tax-free.
Netanyahu and Trump will also discuss the war against Hamas in the Gaza Strip along with efforts to free the 59 remaining hostages taken during Hamas’ terrorist attack on Oct. 7, 2023; Turkey’s military intervention on behalf of the new al Qaeda-linked leadership in Syria; the Iranian nuclear threat; and the ongoing battle to thwart the International Criminal Court’s arrest warrants for Israeli leaders, according to the Prime Minister’s Office in Jerusalem.
‘The top issue to be discussed will be Iran because it seems [nuclear] negotiations might begin. I believe Netanyahu will want to caution Trump ahead of time,’ Ariel Kahana, a senior diplomatic correspondent for the Israel Hayom daily newspaper, told Fox News Digital.
‘We saw the report about the U.S. sending a second THAAD anti-missile battery to Israel on top of equipment America is already sending, and they will want to coordinate all of that together,’ he continued.
‘They will also talk about the war in Gaza, the hostages and the tariffs, which Netanyahu will try to at least lower. With regards to Turkey, I assume Netanyahu will ask Trump to put some limits on [President Recep Tayyip] Erdogan. It seems that both Israel and Turkey are trying to expand their presence or activities in Syria, and it might reach a point that could lead to a direct military conflict,’ Kahana said.
Upon leaving Hungary on Sunday, Netanyahu told reporters about the importance of his visit to meet with President Trump at the White House on Monday.
‘I can tell you that I am the first international leader, the first foreign leader, who will meet with President Trump on this issue, which is so important to Israel’s economy. There is a very long line of leaders who want to do the same regarding their own economies. I believe this reflects the special personal relationship and the special bond between the United States and Israel, which is so vital at this time,’ Netanyahu said.
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I am attending and speaking at the CMTA West Coast Regional Summit in San Francisco from Friday, 4/4, to Sunday, 4/6, so I don’t have enough time to write a full blog article updating the best five sectors.
So, instead, I have added the graphs and the new ranking to this article for review, and I will update the text and the positions in the portfolio on Monday.
- (1) Financials – (XLF)
- (3) Communication Services – (XLC)*
- (2) Energy – (XLE)*
- (7) Consumer Staples – (XLP)*
- (4) Utilities – (XLU)*
- (5) Healthcare – (XLV)
- (6) Industrials – (XLI)*
- (9) Consumer Discretionary – (XLY)*
- (8) Real-Estate – (XLRE)*
- (10) Materials – (XLB)
- (11) Technology – (XLK)
How low can the S&P and the Nasdaq fall? More importantly, how can an investor navigate this volatile environment?
In this eye-opening video, Mary Ellen McGonagle delves into the stock market’s fall, identifies key support levels, and compares them to past bear markets. She also discusses inverse ETFs and their past price action. Don’t miss out on these key technical points. They will help you identify when the market is getting ready to reverse.
The video was originally published on April 4, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.
New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.
If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.
The previous week was short; the Indian markets traded for four days owing to one trading holiday on account of Ramadan Id. However, while staying largely bearish, the markets weathered the storm inflicted by the US announcing reciprocal tariffs on almost everyone and kicking off a serious trade war. The Indian markets stayed extremely resilient but ended the week on a negative note. The Index moved in the range of 707.70 points over the past four sessions. The volatility also rose; the India VIX surged 8.16% on a weekly basis to 13.76. The Indian benchmark Index closed with a net weekly loss of 614.90 points (-2.61%).
The equity markets across the world are likely to stay under pressure and in a bit of turmoil. However, the Indian markets are likely to remain relatively resilient. We live in an interconnected world; it is not surprising if we see the markets staying under pressure along with the other equity markets. However, what is expected to stand out will be the Indian market’s expected relative outperformance. This was evident over the previous week as while the Nifty and Nifty 500 lost 2.61% and 2.50%, the US key indices SPX, Nasdaq, and the Dow lost 9.08%, 10.02%, and 7.86%, respectively. While India’s VIX spiked just over 8%, the CBOE VIX has spiked 109.14% on a weekly basis. While the Indian markets may also show jitters and stay under pressure, this relative outperformance is likely to persist.
The coming week is again short, with Thursday being a trading holiday for Shri Mahavir Jayanti. The markets are expected to start lower on Monday following global weakness. Over the coming week, we can expect the levels of 23050 and 23300 to act as potential resistance points. Importantly, the supports are expected to come in at 22600 and 22450.
The weekly RSI is at 44.93; it stays neutral and does not show any divergence against the price. The weekly MACD is bearish; however, the sharply narrowing Histogram hints at a likely positive crossover in the future. A strong black-bodied candle showed the sustained downward pressure on the markets.
The pattern analysis of the weekly chart shows that after rebounding off the 100-week MA, the Nifty staged a strong rally that halted at the 50-week MA. This MA is placed at 23849; this was the support that the Index had violated on its way down, and now acts as a resistance. The previous week also saw the Nifty slipping below the 20-week MA positioned at 23412. While the Index stays in a secondary trend, it remains in a large but well-defined trading range that is created between 23400 on the upper side and 22100 on the lower side.
Despite being short, the coming week is expected to see a wider trading range and some more volatility staying ingrained in it. It is strongly recommended that while the valuations look tempting enough to initiate buying, all fresh buying should be done in a staggered manner. One must not go out and buy everything all at once, but one should do it in a staggered way while allowing the prices to stabilize and indicate a potential reversal point. Leveraged positions must be kept at modest levels, and fresh purchases must be kept limited to the places where there is emerging relative strength. A cautious approach is advised for the coming week.
Sector Analysis for the coming week
In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.
Relative Rotation Graphs (RRG) show the Nifty Bank and Financial Services indices are rolling strongly inside the leading quadrant. Besides these two indices, the Nifty Commodities, Metal, Infrastructure, and Services Sector Indices are also inside the leading quadrant.
The Nifty Pharma Index is the only one inside the weakening quadrant.
The Nifty IT Index has rolled inside the lagging quadrant and is languishing inside that quadrant along with the Nifty Midcap 100 index. The Nifty Realty and the Media Index are also in the lagging quadrant; however, they are improving relative momentum against the broader markets.
The Nifty PSE and Energy Indices are inside the improving quadrant along with the PSU Bank index, which is seen as strongly improving its relative momentum. The FMCG, Auto, and Consumption Indexes are also inside the improving quadrant but are seen rolling towards the lagging quadrant again while giving up on their relative momentum against the broader markets.
Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.
Milan Vaishnav, CMT, MSTA
Consulting Technical Analyst
A cohort of Democratic representatives and senators are proposing legislation aimed at stalling President Donald Trump’s efforts to relocate federal agencies outside of Washington, D.C., something the president has taken steps to start doing.
Guidance issued in February from the Trump administration instructed federal agencies to submit any proposed relocation of agency bureaus and offices by April 14, instructions that were tied to the president’s broader efforts to eliminate waste, fraud and abuse within the federal government.
The pair of companion bills from Democrats in the House and Senate seeks to require agencies to conduct and share a comprehensive cost-benefit analysis with Congress and the public prior to any relocations.
‘Everyone standing here, every one of my colleagues, wants to get rid of fraud, waste and abuse… but that rhetoric [from the administration] is a cover for an agenda that is perverse and contrary to the interests of the United States of America,’ Rep. Steny Hoyer, D-Md., said during a press conference held at the Capitol announcing the new legislative effort.
‘All of this is targeted at depleting the federal workforce and nullifying the government of the United States,’ Rep. Jamie Raskin, D-Md., added. ‘That is the philosophy that is driving this entire thing.’
Maryland Democratic Sen. Chris Van Hollen previously introduced ‘The COST of Relocations Act’ in 2020, and again in 2023.
‘We hoped [the bill] wouldn’t be necessary again, but it is,’ Van Hollen stated at the press conference. ‘It’s necessary in order to stop Donald Trump and Elon Musk from wasting American taxpayer dollars by sabotaging services that the American public depends on.’
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