Trump impeachment moves to public phase
Televised proceedings will air president’s dirty laundry
The US House of Representatives will convene on Wednesday for the first public presidential impeachment hearings in 20 years. This is only the third time this has happened in the history of the modern presidency.
The televised hearings could conclude in a Senate vote on whether President Trump should be removed from office. Until this point, the proceedings have been kept private.
Trump is facing accusations that he used his powers to coerce Ukraine and other foreign countries to aid his reelection by perpetuating conspiracy theories about his political opponents, including Joe Biden.
The process, which Trump has described as “a phony show trial” turns on a transcript of a telephone conversation between Trump and Ukrainian president, Volodymyr Zelensky, which took place in July. Asking foreign entities for assistance in winning a US election is illegal.
The White House has also been accused of obstructing the impeachment process by ordering staff to ignore subpoenas and refusing to provide documents or testimony.
Analysts are divided on how this will impact the market. When the impeachment proceedings were announced in September, stocks took a tumble but recovered at the news of US-China trade negotiations. At the time, Trump himself tweeted that the stock market would crash if he were to be impeached.