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☆ The Fed could make a big change today. We’re not talking about interest rates
▼ + stars: | 2024-05-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Wednesday’s Federal Reserve policy decision will likely be pretty boring for investors — officials are widely expected to keep interest rates the same, just as they have since July 2023. They think that the Fed may curtail its quantitative tightening (QT) program — that’s the selling off of its assets to decrease money supply and increase interest rates — by as much as half. Those purchases ended up pushing down interest rates in certain parts of the economy, like housing and auto sales. That led to a “repo crisis”, where the interest rates for overnight loans between banks spiked unusually high. That’s because a taper should send bond prices higher, and interest rates lower.

Persons: there’s, Jamie Dimon, Jerome Powell doesn’t, Krishna Guha, Marco Casiraghi, ”, Bill Adams, Biden, reclassify, General Merrick Garland, Xochitl Hinojosa, “, Nancy Mace, Earl Blumenauer, ” Read, Zhao, Allison Morrow, ” Binance Organizations: CNN Business, Bell, New York CNN, Fed, JPMorgan Chase, Comerica Bank, Bank of America, CNN, US Department of Justice, Federal Register, Congress, Associated Press, Republican, CZ, Binance, Bloomberg Locations: New York, South Carolina, Oregon, Seattle

How the House Voted on Foreign Aid to Ukraine, Israel and TaiwanVotes on the Foreign Aid Bills Source: Office of the Clerk, U.S. House of RepresentativesThe House passed a long-stalled foreign aid package on Saturday that gives funding to Ukraine, Israel and Taiwan, with a majority of lawmakers backing money for American allies across the globe. A majority of Republicans voted against Ukraine aid on Saturday, in a reflection of the stiff resistance within the G.O.P. to continuing to aid Ukraine against President Vladimir V. Putin of Russia’s invasion. While all Democrats voted in favor of aid to Ukraine and all but Ms. Tlaib supported funding to Taiwan, 37 left-leaning Democrats defected to vote against the Israel aid bill. The opposition to the Israel aid represented a minority of Democrats, but reflected the deep resistance to unconditional aid and the divisions in the party on Gaza.

Persons: Mike Johnson, Kevin McCarthy’s, Mr, McCarthy, Vladimir V, Putin, Elise Stefanik, Rashida Tlaib, Bob Good, Good, “, Tlaib, Jamie Raskin, Donald S, Beyer Jr, Earl Blumenauer of, John Garamendi of Organizations: Foreign Aid, Foreign, House, Senate, House Progressive Caucus, Fund, Caucus, Republican, Republicans, ”, Maryland, Democrats Locations: Ukraine, Israel, Taiwan, New York, Michigan, Virginia, Gaza, Earl Blumenauer of Oregon, John Garamendi of California, United States

But the de minimis rule also has powerful defenders. China's exports grew only 0.6% last year, but the bright spot was cross-border e-commerce, which includes but is not limited to the de minimis packages. In a January meeting with Mayorkas, the National Council of Textile Organizations complained about unfair trade practices, including the de minimis rule. It is unclear how much fentanyl and other illicit drugs may be slipping undetected into the country in the small packages. On a recent Friday morning at Chicago's O'Hare airport, small parcels that had arrived by mail from overseas were on conveyor belts going through X-ray machines for inspection.

Persons: Lindsey Puls, Puls, ”, Alexander Mayorkas, Earl Blumenauer of, ” Blumenauer, Sen, John Thune, LaFonda Sutton, Burke, Charles Benoit, Benoit, Mayorkas, Videojournalist Melissa Perez Winder, Haleluya Hadero Organizations: WASHINGTON, Will, Homeland, National Foreign Trade Council, FedEx, UPS, DHL, eBay, South Dakota Republican, Customs, Custom, China’s Communist Party, Coalition for, Prosperous, National Council of Textile Organizations, National Association of Police, Border Protection, Investments Locations: China, U.S, Shiocton , Wisconsin, Earl Blumenauer of Oregon, Shein, Singapore, Chicago, United States, Prosperous America, Chicago's, New York

☆ US lawmakers ask SEC to scrutinize Musk comments on Neuralink
▼ + stars: | 2023-11-22 | by ( Marisa Taylor | ) www.reuters.com time to read: +3 min

Neuralink logo and Elon Musk photo are seen in this illustration taken, December 19, 2022. Yet Musk, Neuralink's CEO, downplayed investor concerns about the results of its animal testing, the letter said. Musk wrote that "no monkey has died as a result of a Neuralink implant," in a post to his social media site, X, on Sept. 10. Neuralink did not respond to requests for comment on the letter to the SEC. As a result, Musk's statement "may have violated" SEC rules in denying a connection, the lawmakers wrote.

Persons: Elon, Dado Ruvic, Elon Musk, Earl Blumenauer of, Jim McGovern, Barbara Lee, Tony Cardenas, Musk, Neuralink, Marisa Taylor, Michele Gershberg, Marguerita Choy Organizations: REUTERS, U.S, Securities and Exchange Commission, Democratic, Reps, Massachusetts, SEC, Reuters, U.S . Food, Drug Administration, Thomson Locations: Earl Blumenauer of Oregon, Tony Cardenas of California

☆ Democrats want to make electric bikes much cheaper by giving you up to $1,500 to buy one
▼ + stars: | 2023-03-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

A new bill would give Americans up to $1,500 off the purchase of an electric bicycle. The Senate cut this legislation out of the 2022 Inflation Reduction Act, but included subsidies for electric cars and SUVs. Biking advocates argue that electric bikes should be subsidized just as electric cars have been for years. Electric bikes have boomed in popularity in the US over the last several years. E-bike tax credits introduced by cities and states around the country have become hugely popular in recent years.

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