Department of Homeland Security Secretary John Kelly said Sunday that marijuanais not a factor in the war on drugs, arguing that the biggest problems are found in other substances.
“Marijuana is not a factor in the drug war,” Kelly told NBC News’ Chuck Todd onMeet the Press when asked how marijuana legalization would impede or help this fight. “It’s three things. Methamphetamine. Almost all produced in Mexico. Heroin. Virtually all produced in Mexico. And cocaine that comes up from further south.”
The solution, said Kelly, won’t come from arrests over drug use.
A rate increase could come as early as September if economic data hold firm
Federal Reserve Chairwoman Janet Yellen testified before the Senate Banking Committee in June. — Photo: Win McNamee/Getty Images
Federal Reserve officials are looking more confidently toward an interest-rate increase before year-end, possibly as early as September, now that financial markets have stabilized after Britain’s vote to leave the European Union and the economy shows signs of picking up.
Officials are almost certain to leave rates unchanged when they meet July 26-27, according to their public comments and interviews with officials. But the message in their postmeeting policy statement could be that the economy is on a more solid footing than appeared to be the case when they last gathered in June, setting the stage for raising rates if the data hold up in the months ahead.
Such a message would get the attention of traders in futures markets, who see low chances for the Fed moving as early as September. In early June, traders on the Chicago Mercantile Exchange placed a probability of greater than 60% that the Fed would raise short-term rates by at least a quarter percentage point by its September policy meeting, according to the CME. The probability dropped sharply after a weak May jobs report and the June 23 Brexit vote and was just 12% on Monday.