President Donald Trump outlined measures to tighten federal spending and combat fraud. These include requiring proof for federal childcare funding and immediately freezing welfare payments to undocumented immigrants. 💰

Effective February 1st, funding would cease for sanctuary cities and states, accused of enabling fraud and compromising public safety. President Trump also pledged to prosecute and imprison all involved in fraud, including public officials. ⚖️

Furthermore, the administration plans to revoke citizenship for naturalized immigrants convicted of defrauding Americans. President Trump stated that those who defraud Americans will be jailed and repatriated. 👮‍♂️

Regarding monetary policy, President Trump advocated for Federal Reserve interest rate cuts during market rallies. He criticized Fed Chair Jerome Powell for "killing every rally" and suggested his imminent removal. 📉

The market reaction primarily focused on expectations of a more dovish Fed under pressure from President Trump, rather than immigration policies. 📈

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