What political crisis?
U.S. equity markets appeared unmoved by the latest political crisis to envelope the White House Thursday, as President Donald Trump lashed out at an anonymous editorial in the New York Times that accused his administration of being "impetuous, adversarial, petty and ineffective."
The scathing indictment of the President and his 18-month tenure in the White House, written by what the paper said only was a "senior administration official" was attacked by Trump as "gutless", who demanded the author be revealed by New York Times officials in the name of national security.
"We have somebody in what I call the failing New York Times that's talking about he's part of the resistance inside the Trump administration," Trump told reporters in Washington amid an angry reaction that spilled over into his Twitter account later that evening. "This is what we have to deal with. And you know the dishonest media ... But it's really a disgrace."
U.S. equity futures, however, reversed early declines in overnight trading and now point to modest gains across the board Thursday, with contracts tied to the Dow Jones Industrial Average
The U.S. dollar index, however, which benchmarks the greenback against a basket of six global currencies, slipped from a two-week high in European trading to change hands at 95.05.
Does the so-called "Senior Administration Official" really exist, or is it just the Failing New York Times with another phony source? If the GUTLESS anonymous person does indeed exist, the Times must, for National Security purposes, turn him/her over to government at once!— Donald J. Trump (@realDonaldTrump) September 5, 2018
New York Times (NYT) shares fell 2.35% in Wednesday trading to close at $22.85 each, trimming their year-to-date advance to 23.5% and valuing the publisher at $3.7 billion.
The Times said it took the rare decision to publish the editorial anonymously after it deemed such a move "the only way to deliver an important perspective to our readers." It also invited readers to submit questions about the paper's vetting process for the story.
The Op-Ed, entitled "I Am Part of the Resistance Inside the Trump Administration", alleged that "many of the senior officials in (Trump's) administration are working diligently from within to frustrate parts of his agenda and his worst inclinations."
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"Given the instability many witnessed, there were early whispers within the cabinet of invoking the 25th Amendment, which would start a complex process for removing the president," the Op-Ed alleged. "But no one wanted to precipitate a constitutional crisis. So we will do what we can to steer the administration in the right direction until - one way or another - it's over."
The Deep State and the Left, and their vehicle, the Fake News Media, are going Crazy - & they don't know what to do. The Economy is booming like never before, Jobs are at Historic Highs, soon TWO Supreme Court Justices & maybe Declassification to find Additional Corruption. Wow!— Donald J. Trump (@realDonaldTrump) September 6, 2018
The allegations echo similar charged levied in Pulitzer Prize winning journalist Bob Woodward's recent book, 'Fear: Trump in the White House', which was released earlier this week, as well as Michael Wolff's 'Fire & Fury' and recent articles from ousted former White House staffer Omarosa Manigault Newman.
White House Press Secretary Sarah Huckabee-Sanders called the NY Times Op-Ed "pathetic, reckless and selfish" and said the "coward" who wrote it should "do the right thing and resign".
"The individual behind this piece has chosen to deceive, rather than support, the duly elected President of the United States," Sanders said in a statement. "He is not putting country first, but putting himself and his ego ahead of the will of the American people."