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☆ Fed trajectory is 'bumpy' as macroeconomy has a lot of momentum, says Dreyfus and Mellon's Reinhart
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed trajectory is 'bumpy' as macroeconomy has a lot of momentum, says Dreyfus and Mellon's ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and former Fed economist, joins 'Money Movers' to discuss the current macroeconomic picture relative to the Fed's trajectory, how hawkish Jerome Powell will sound, and much more.

Persons: Dreyfus, Mellon's Reinhart Vincent Reinhart, hawkish Jerome Powell Organizations: Mellon, Fed

☆ 'Curb Your Enthusiasm' ends with a perfect 'Seinfeld' send-up — here's what happened
▼ + stars: | 2024-04-08 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +6 min

The long-running show referenced the polarizing "Seinfeld" series finale in its ending. How did the 'Curb Your Enthusiasm' series finale end? This mirrors the structure of the "Seinfeld" series finale. Related storiesLarry tells Seinfeld that "this is how we should've ended the finale," referencing the widely hated "Seinfeld" finale. Jerry Seinfeld and Larry David in the series finale of "Curb Your Enthusiasm."

Persons: Larry David's, —, David, Larry, Earl Mack, Greg Kinnear, They're, Joe, Saverio Guerra, Irma, Tracey Ullman, Bruce Springsteen, Jerry, Jerry Seinfeld, George, Jason Alexander, Elaine, Julia Louis, Dreyfus, Kramer, Michael Richards, Seinfeld, Larry David, John Johnson, It's, Ken Tucker, who'd, Samuel Beckett, Tucker, Grantland Organizations: Service, HBO, New Yorker Locations: Atlanta, Massachusetts, —

☆ Oil price surge is the No. 1 threat to the US economy, Moody’s economist warns
▼ + stars: | 2024-04-08 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But there is a growing threat to that sunny economic backdrop: surging oil prices. Global oil prices are flirting with $92 a barrel amid worries about a wider war in the Middle East. US oil prices surged above $87 a barrel late last week for the first time since late October, leaving them up about 21% this year. First, drone attacks on oil refineries deep inside Russia helped lift oil prices last month. Beyond the Middle East tensions, oil and gas prices have been boosted by OPEC and its allies, which continue to restrain supply.

Persons: “, ”, Mark Zandi, Moody’s, Donald Trump, Trump, ” Zandi, hasn’t, Andy Lipow, Brent, ” Helima Croft, Joe Brusuelas, ” Brusuelas, Brusuelas, Vincent Reinhart, Mellon, ” Reinhart, he’s, Patrick De Haan, ” De Haan Organizations: New, New York CNN, Federal Reserve, Wall, CNN, “, Iranian Revolutionary Guards, Lipow Oil Associates, CIA, RBC Capital Markets, RSM, AAA, OPEC, Lipow Locations: New York, Iran, Russia, Syria, Israel, Quds, “

☆ Former Fed economist on the election's impact on rate cuts
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed economist on the election's impact on rate cutsVincent Reinhart, Dreyfus and Mellon chief economist and former Fed economist, joins 'Money Movers' to discuss why investors shouldn't expect the Fed to start easing rates, whether the Federal Reserve would ease in June to avoid easing around the election, and more.

Persons: Vincent Reinhart, Dreyfus Organizations: Former, Mellon, Fed, Federal

☆ The real story behind Coco Chanel's collaboration with the Nazis, as featured in 'The New Look'
▼ + stars: | 2024-03-03 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +8 min

Apple TV+ "The New Look" shines a light on Coco Chanel's murky history as a Nazi informant and spy. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Juliette Binoche and Emily Mortimer as Coco Chanel and Elsa Lombardi in "The New Look." Roger Do Minh/Apple TVHow deep the fashion icon's Nazi collaboration ran was made public for the first time in "Sleeping with the Enemy: Coco Chanel's Secret War," by Hal Vaughan, published in 2011. AdvertisementChanel, who died in 1971 at 87, continued her relationship with Von Dincklage after the war for several years.

Persons: —, France's, Coco Chanel that's, Chanel, Todd A, Christian Dior, Juliette Binoche, Emily Mortimer, Coco Chanel, Elsa Lombardi, Roger Do Minh, Hal Vaughan, Vaughan, Dreyfus, Alfred Dreyfus, Hulton, Baron Hans Günther Von Dincklage, Von Dincklage, Spatz, André Palasse, Pierre, Paul Wertheimer, Chanel didn't, Parfums Chanel, Modelhut Coco Chanel, Winston Churchill, Bettmann, Duke of Westminster, Walter Schellenberg, Schellenberg, Vera Bate Lombardi, Lombardi —, Chanel's, Churchill, Baron Louis de Vaufreland, Per Vaughan, Wertheimer, James Andanson, Dincklage, Baron von Dincklage Organizations: Apple, Nazi, Service, Deutsch, Hotel Ritz, Abwehr, AFP, Getty, British, Paris, Chanel Locations: Nazi, Paris, German, British, Germany, French, Britain, Madrid, Churchill, Switzerland

☆ Australia PM Backs Parliament Motion Calling for Julian Assange's Release
▼ + stars: | 2024-02-14 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

The motion, moved by independent lawmaker Andrew Wilkie, was passed on Wednesday with 86 votes in favour and 42 against after it was supported by the Labor government. "(The motion) will send a powerful political signal to the British government and to the U.S. government," Wilkie told parliament ahead of the vote. Assange's supporters say he has been victimised because he exposed U.S. wrongdoing and potential crimes, including in conflicts in Afghanistan and Iraq. Washington says the release of the secret documents put lives in danger. Australia's Attorney-General Mark Dreyfus said Assange's extradition was raised in a meeting with his U.S. counterpart Merrick Garland in Washington last month.

Persons: Renju Jose SYDNEY, Anthony Albanese, Julian Assange, Andrew Wilkie, Wilkie, Assange, Albanese, Mark Dreyfus, Merrick Garland, Dreyfus, Renju Jose, Jamie Freed Organizations: Australia's, WikiLeaks, London's, Labor, ., Britain, Australian Broadcasting Corp, U.S Locations: Australia, United States, Australian, Britain, Afghanistan, Iraq, Washington, Sydney

☆ Meghan, Duchess of Sussex, lands new podcast deal after parting ways with Spotify
▼ + stars: | 2024-02-13 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +3 min

CNN —Less than a year after Prince Harry and Meghan, Duchess of Sussex, ended their podcasting partnership with Spotify, Meghan has a new podcasting partner. Meghan will bring a new, yet-to-be-announced podcast to Lemonada Media, which issued a press release with the news on Tuesday. In addition to her new podcast, Lemonada will also stream “Archetypes,” Meghan’s podcast that debuted in 2022 on Spotify. Under the new creative partnership, Lemonada will begin streaming “Archetypes” this spring, handling ad sales and distribution. A spokesperson for Archewell Productions, the company founded by Harry and Meghan, did not respond to CNN’s inquiry regarding the terms of the deal.

Persons: Prince Harry, Meghan, Duchess of, Lemonada, Mariah Carey, Mindy Kaling, Issa Rae, Harry, “, ” Meghan, I’m, ”, Jessica Cordova Kramer, Stephanie Wittels Wachs, we’ve, Duchess, Sussex, Julia Louis, Dreyfus, Samantha Bee ” Organizations: CNN, Spotify, Lemonada Media, Archewell Productions, ” Lemonada, Netflix Locations: Duchess of Sussex, Lemonada, United States

☆ The Fed will put off policy action until at least June: Dreyfus and Mellon's Vincent Reinhart
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will put off policy action until at least June: Dreyfus and Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and former Fed economist, joins 'Money Movers' to discuss what to expect from the Federal Reserve in March, the risks to inflation, and clues to see an incrementally weaker job market.

Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Mellon, Fed, Federal Reserve

☆ Hunger is India’s ‘biggest problem’ — one of the world's largest food producers leaves millions hungry
▼ + stars: | 2024-01-31 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

A labourer works inside a mill of refined wheat flour at Khanna in India's Punjab state on May 18, 2022. "Hunger is the biggest problem in India," a representative of global agribusiness Bunge told CNBC on the sidelines of the Commodity Trading Week held in Singapore. If they are getting the food, it's not nutritious," said Amit Sharma, Bunge's global trade execution team leader. India's Department of Food and Public Distribution did not immediately respond to CNBC's request for comment. Vipin Kumar | Hindustan Times | Getty ImagesIndia's food problem is also compounded by the fact that the rising middle class is on course to demand for more food — and better quality food as well.

Persons: Sajjad Hussain, Bunge, There's, Amit Sharma, Sharma, India's, Garima, Louis Dreyfus, Vipin Kumar, Jain, It's Organizations: AFP, Getty, CNBC, Logistics, International Trade Administration, U.S . Commerce Department, India's Department of Food, ITA, Hindustan Times Locations: Khanna, India's Punjab, India, Singapore

Some are sentenced to hard labor and forced to work – or face punishment – and are sometimes paid pennies an hour or nothing at all. While prison labor seeps into the supply chains of some companies through third-party suppliers without them knowing, others buy direct. The AP reached out for comment to the companies it identified as having connections to prison labor, but most did not respond. Corrections officials and other proponents note that not all work is forced and that prison jobs save taxpayers money. They also aren’t learning skills that will help them when they are released,” said law professor Andrea Armstrong, an expert on prison labor at Loyola University New Orleans.

Persons: They’re, they’ve, Russell Stover, Bunge, Louis Dreyfus, Archer Daniels, Cargill, ” McDonald’s, Mills, ” Bunge, they’re, ”, David Farabough, don’t, Andrea Armstrong, Columbia University’s Ira A, Lipman Organizations: Associated Press, Kroger, Target, Aldi, U.S, Walmart, Costco –, Washington, American Civil Liberties Union, AP, Maine Foods, Taylor Farms, Archer Daniels Midland, Consolidated, Foods, Corrections, Loyola University New Orleans, Public Welfare Foundation, Columbia, Lipman Center for Journalism, Arnold Ventures Locations: U.S, Idaho, In Kansas, Cal, Arizona, Tennessee , Arkansas, Ohio, Arkansas, Investigative@ap.org

For instance, the U.S. has blocked shipments of cotton coming from China, a top manufacturer of popular clothing brands, because it was produced by forced or prison labor. While prison labor seeps into the supply chains of some companies through third-party suppliers without them knowing, others buy direct. Cargill acknowledged buying goods from prison farms in Tennessee, Arkansas and Ohio, saying they constituted only a small fraction of the company’s overall volume. For instance, about a dozen state prison farms, including operations in Texas, Virginia, Kentucky and Montana, have sold more than $60 million worth of cattle since 2018. “What for?”FOLLOWING THE MONEYThe business of prison labor is so vast and convoluted that tracing the money can be challenging.

Persons: it’s, Willie Ingram, “ They’d, billy clubs, they’d, ”, Ingram, didn’t, they’re, don’t, Andrea Armstrong, Frank Dwayne Ellington, Ellington, Koch, “ It’s, it’s somebody’s, Alishia Powell, Clark, “, Bunge, Louis Dreyfus, Archer Daniels, Cargill, ” McDonald’s, Mills, ” Bunge, Burger, Jermaine Hudson, ” Hudson, Calvin Thomas, Thomas, Ken Pastorick, Pastorick, Jennifer Turner, Faye Jacobs, Jacobs, ’ ” David Farabough, they’ve, Joshua Sbicca, Cliff Johnson, Jimmy Dean, Sara Lee, Tyson, Brevard County Sheriff Wayne Ivey, that’s, ” Ivey, “ They’re, ’ ”, William “ Buck ” Saunders, Hickman’s, Brooke Counts, Counts, John’s, Jack Strain, Tammany Parish, Russell Stover, Curtis Davis, Robert Bumsted, Cody Jackson, Columbia University’s Ira A, Lipman Organizations: Louisiana State Penitentiary, The Associated Press, Walmart, Cargill, U.S, Kroger, Target, Aldi, Corrections, Loyola University New Orleans, Koch Foods, Occupational Safety, Health Administration, Washington, Archer Daniels Midland, Consolidated, AP, Foods, Dairy Farmers of, Big, Sam’s, Tyson Foods, U.S ., Civilian, OSHA, Fair Labor, American Civil Liberties, Colorado State University, MacArthur Justice Center, University of Mississippi, PepsiCo, Brevard County Sheriff, Arizona . Companies, Costco, Correctional, Prisons, Nut, Maine Foods, Taylor Farms, Transitional, Associated Press, Public Welfare Foundation, Columbia, Lipman Center for Journalism, Arnold Ventures Locations: ANGOLA, La, Southern, Louisiana, Texas, In Louisiana, Angola, United States, “, Ashland, U.S, China, Tennessee , Arkansas, Ohio, Dairy Farmers of America, Texas , Virginia, Kentucky, Montana, Baton Rouge, Mississippi, Manhattan, America, Alabama, American, Arkansas , Texas, Florida , Alabama, South Carolina, Georgia, Arkansas, In Alabama, Florida, Brevard County, Arizona, Wisconsin, California, Colorado, state’s St, Tammany, Idaho, In Kansas, Cal, St, Francisville , Louisiana, Feliciana, Investigative@ap.org

☆ India's role as a wheat exporter is now 'ruled out,' says agricultural merchant and processor
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's role as a wheat exporter is now 'ruled out,' says agricultural merchant and processorGarima Jain, deputy CEO and head of grains for India at Louis Dreyfus, says India's food security is paramount.

Persons: Jain, Louis Dreyfus Locations: India

Mayor Fletcher Bowron of Los Angeles welcomed people to the first Emmy Awards ceremony, which was held Jan. 25, 1949, at the Hollywood Athletic Club. Before there was a Peak TV era, before there were performances from Mary Tyler Moore, Cloris Leachman or Julia Louis-Dreyfus, there was Judy Splinters. “Judy Splinters,” a children’s television show hosted by a 20-year-old ventriloquist named Shirley Dinsdale and her puppet — wait for it — Judy Splinters, was nominated for the so-called most popular program at the very first Emmy Awards. All nominated shows had to have been filmed in Los Angeles, and the award show itself was only broadcast on a local station in Los Angeles. “It was so brand-new,” Dinsdale told The Los Angeles Times in 1998.

Persons: Fletcher Bowron, Mary Tyler Moore, Cloris Leachman, Julia Louis, Dreyfus, Judy, Shirley Dinsdale, Dinsdale, John Leverence, —, ” Dinsdale, “, ” Leverence, ”, That’s Organizations: Hollywood Athletic Club, Television Academy, Los Angeles Times, Los Angeles, KTLA, Times, Lucky Locations: Los Angeles, Los

☆ Australia Government Seeks Opposition Support on Immigration Detention Legislation
▼ + stars: | 2023-12-05 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +2 min

The verdict overturned an court ruling from about 20 years ago that said indefinite immigration detention was lawful as long as the government intended to remove the person from Australia eventually. The federal government is scrambling to pass the law as the opposition coalition and government lawmakers continued to clash over the ramifications of the high court ruling. The proposed law will allow the government to refer non-citizens freed from immigration detention to judges to decide whether they pose a risk to the community. Three of the about 150 people who were freed since the court ruling have been charged with fresh offences, media have reported. Dreyfus said the government would reject amendments to the bill because they risk exposing it to further challenges in the high court.

Persons: Mark Dreyfus, Dreyfus, Renju Jose, Lewis Jackson, Gerry Doyle Organizations: SYDNEY, Australian, Wednesday, Attorney Locations: Australia's, Australia, Sydney

Since June, the quarterly "dot plot" of policymakers' projections of the appropriate path of policy has shown rates rising another quarter point this year. Investors will be eager for the boost a rate cut would give to markets, and consumers will be relieved by lower mortgage and credit rates. Indeed, in remarks last week Fed Chair Jerome Powell noted that over the last six months inflation had averaged around 2.5%. Investors, meanwhile, have become increasingly fixed on March as a starting point for rate cuts. Between falling inflation and a modest slowdown in growth, Powell said: "We are getting what we wanted to get."

Persons: Vincent Reinhart, Dreyfus, Reinhart, Donald Trump, Michael Gapen, Gapen, Jerome Powell, Powell, Christopher Waller, Howard Schneider, Andrea Ricci Organizations: . Federal Reserve, Mellon, WE, Republican, Bank of America, Fed, Spelman College, Thomson Locations: U.S, Atlanta

That was the lowest year-over-year inflation rate in more than 2 1/2 years. Core prices rose 3.5% in October from a year earlier, below the 3.7% year-over-year increase in September. Those price increases, though smaller than they were last year, are still faster than was typically true before the pandemic. The declines in spending on those items suggests that the Fed's rate increases are discouraging purchases in some areas. The central bank’s rate rate hikes have elevated the costs of mortgages, auto loans and other forms of consumer borrowing as well as business loans.

Persons: They've, ” Vincent Reinhart, Christopher Waller, Waller Organizations: WASHINGTON, Commerce Department, Dreyfus, Mellon, AAA, Fed Locations: Europe, U.S

Most funny people will say that where there’s laughter, there’s usually pain. Louis-Dreyfus knows the reverse is also true. Even while she explores new emotional depths in her work, she can’t help but find the funny. It turns out, you can take the girl out of the comedy, but you can’t take the comedy out of the girl.

Persons: Louis, Dreyfus

☆ Ex-IBM CEO: Here's the No. 1 thing my mom did to raise four highly successful executives
▼ + stars: | 2023-11-18 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

If you asked Ginni Rometty's mom how she managed to raise four high-powered executives, she'd be as stunned as you are. "My mom [is] always like, 'How did this happen?,'" Rometty, the former CEO of IBM, said on Wednesday at the World Business Forum summit. Rometty's youngest sister, Darlene Nicosia, is the CEO of food manufacturing company Hearthside Food Solutions. One particular lesson from their mom helped them all grow into successful adults, Rometty said: "Never let someone else define who you are." Her mom — who didn't have a job at the time, Rometty told the Horatio Alger Association in 2016 — managed to land a job at a local hospital.

Persons: Ginni, she'd, she'll, Darlene Nicosia, Anette Rippert, Joe Nicosia, Louis Dreyfus, Rometty, — Organizations: IBM, World, Food Solutions, Accenture, Louis Dreyfus Company, Horatio Alger Association

JULIA LOUIS-DREYFUS is laughing about the time she had to eat Death. Sitting in a Manhattan restaurant, waiting for her poached-eggs-no-home-fries, she’s talking about her role as a fiercely protective mother in her new movie, Tuesday, a visual effects–filled drama in which Death takes the form of a mystical parrot. At one point in the mother’s quest to protect her terminally ill daughter from the bird, she stuffs its entire body into her mouth. Louis-Dreyfus actually chewed black cotton candy to create the moment.

Persons: JULIA LOUIS, DREYFUS, Louis, Dreyfus Locations: Manhattan

☆ The US dollar is 'not forever' a safe haven asset, says Dreyfus and Mellon's Reinhart
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe US dollar is 'not forever' a safe haven asset, says Dreyfus and Mellon's ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and macro strategist, joins 'Squawk on the Street' to discuss what the rise in the long end of the yield curve could do for the Federal Reserve, how the United States' rate decision impact the global economy, and more.

Persons: Dreyfus, Mellon's Reinhart Vincent Reinhart Organizations: Mellon, Federal Reserve Locations: United States

☆ Louis Dreyfus to build Ohio soy crush plant, add to processing boom
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

Two people converse in a soybean field during harvest season in Deerfield, Ohio, U.S., October 7, 2021. REUTERS/Dane Rhys/File Photo Acquire Licensing RightsPARIS, Oct 20 (Reuters) - Louis Dreyfus Company will build a soybean-processing plant in Ohio, the global crop merchant said on Friday, adding to a booming expansion of oilseed crushing in North America encouraged by biofuel use. Dreyfus will start construction in early 2024 on the facility in Upper Sandusky that will have annual soy-crushing capacity of 1.5 million metric tons, the company said in a statement. The plant will have capacity to produce 320,000 metric tons per year of edible soybean oil and 7,500 metric tons of lecithin, it said. Dreyfus said earlier this year it will more than double the size of its Canadian canola crushing plant in Yorkton, Saskatchewan.

Persons: Dane Rhys, Louis Dreyfus, Dreyfus, Archer Daniels, Gus Trompiz, Karl Plume, Jonathan Oatis, Rod Nickel Organizations: REUTERS, Rights, Louis Dreyfus Company, Reuters, Regional Growth, Archer Daniels Midland, Thomson Locations: Deerfield , Ohio, U.S, Ohio, North America, Upper Sandusky, North Dakota, Yorkton , Saskatchewan, Chicago

☆ Wall Street is betting on an active management comeback with new ETF launches
▼ + stars: | 2023-09-28 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

There were 68 active fund launches in the third quarter as of Sept. 22, compared to 49 indexed fund launches, according to CFRA. Passive funds still make up the majority of the ETF market, and they typically cost less than active products. JEPI, the biggest active ETF, has underperformed the S & P 500 this year but is still attracting new cash. "One of the problems with straightforward active funds, and we do run some straightforward active funds, is that very often ... you are tethered to that broad index, whatever happens to be in that. Abbott's firm launched five new active funds last week, including the Matthews Japan Active ETF (JPAN) .

Persons: Rachel Aguirre, Euan Munro, BNY Mellon, Cooper Abbott, Stephanie Pierce, Dreyfus, Jeremy Grantham's, Abbott Organizations: BlackRock, CNBC, JPMorgan —, Nasdaq, Newton Asset Management, BNY, Matthews Asia, Matthews Japan Active, SEC, Mellon & Exchange, BNY Mellon Investment Management Locations: BALI, BlackRock

☆ One rural Alabama school district figured out how to improve students' math scores: longer classes, group learning, and data diving
▼ + stars: | 2023-09-23 | by ( Trisha Powell Crain | Associated Press | ) www.businessinsider.com time to read: +8 min

Teachers got more time to dig into student test score data and lengthened classes to focus on specific skills. By spring 2022, the district ranked 12th in the state on math proficiency, with 57% of students reaching proficiency. There is less research on the use of targeted small group instruction in math and in middle grades. Math teacher Cheyenne Crider helps a seventh-grade student with a math problem at Piedmont Middle School in Piedmont, Alabama, on Thursday, Aug. 31, 2023. She oversees training for middle school math teachers through the Alabama Math Science and Technology Initiative.

Persons: Mike Hayes, Rebecca Dreyfus, TNTP, Dreyfus, Trisha Powell Crain, Hayes, " Hayes, Cassie Holbrooks, Lisa Hayes, Cheyenne Crider, Keri Richburg, Richburg, Holbrooks, Landon Pruitt, Pruitt Organizations: Teachers, Service, Piedmont City, Nationwide, AP Piedmont, Piedmont Middle, AP, Alabama Math Science, Technology Initiative, Research, Associated Press, Carnegie Corporation of New, Christian Science Monitor, Dallas Morning News, Idaho Education, Courier, The Seattle Times Locations: Alabama's, Wall, Silicon, Ala, Alabama, Piedmont , Alabama, Holbrooks, Piedmont, Carnegie Corporation of New York, Idaho, South Carolina

☆ Gas is rapidly approaching $6 in one state
▼ + stars: | 2023-09-19 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

In California, gas prices are rapidly approaching $6 a gallon. Nationally, gas prices remain well below the record of $5.02 set last June. Still, US gas prices climbed this week to $3.88 a gallon, the highest level of the entire year, according to AAA. Boosted by those two nations’ aggressive supply cuts, US oil prices climbed to as high as $93.74 a barrel on Tuesday. And this recent rise in gas prices is causing headaches for some in Washington.

Persons: it’s, That’s, Pain, Joe Biden’s, Jerome Powell, Powell, ” Nicholas Colas, Colas, “, ”, Joe Brusuelas, Andy Lipow, Lipow, Russia don’t, Brent, Goldman Sachs, Vincent Reinhart, RSM’s, Reinhart, ’, Morgan Stanley, Kristina Hooper Organizations: New York CNN, —, AAA, Brent, Federal, DataTrek Research, RSM, Lipow Oil Associates, Rockies, Citigroup, Fed, Mellon Locations: United States, West Coast, In California, Los Angeles, Long Beach, California, Washington and Nevada, Saudi Arabia, Russia, It’s, Washington, OPEC

Student loan repayments restart in October after a three-year suspension during the COVID-19 pandemic. In isolation, none would likely shift policymakers' sense of the short-term risks or change their focus on quelling still-elevated inflation. By Goldman's estimate the economy would still be growing at a 1.3% annual rate at that point. But the amounts they see sliced from GDP are more than the 1% growth rate Fed officials expected the economy to muster as of June, and beyond many private forecasts as well. Some economists say the resumption of student loan repayments for tens of millions of borrowers may already be reshaping behavior.

Persons: Goldman Sachs, Vincent Reinhart, Reinhart, Michael Pearce, Ian Shepherdson, Kieran Clancy, They've, Howard Schneider, Dan Burns, Andrea Ricci Organizations: . Federal Reserve, United Auto Workers, Federal, Republicans, Reuters Graphics Reuters, Mellon, Reuters, Oxford Economics, Congressional, U.S . Department, Education, Thomson

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