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☆ Fed could cut rates fewer times than expected as economy keeps growing, according to CNBC survey
  + stars: | 2024-03-19 | by ( Steve Liesman | ) www.cnbc.com   time to read: +2 min
But the possible downside of the better forecast: less Fed easing with the possibility that officials at their meeting this week forecast fewer rate cuts in 2024 they did in December. The CNBC Fed Survey respondents include economists, strategists and fund managers. And while the average recession probability is down, about 20% of respondents still say there's an even money chance or greater of a downturn in the next 12 months. "The larger-than-consensus reduction in the federal funds rate in my forecast is contingent on a recession that brings inflation down," said Robert Fry, of Robert Fry Economics. He has a 60% recession probability and sees the Fed slashing rates to 3.6% by year end from the current level of 5.38%.
Persons: Jerome Powell, Tom Williams, John Donaldson, it's, Scott Wren, Robert Fry Organizations: UNITED STATES, Federal, Banking, Housing, Urban Affairs Committee, Inc, Getty, CNBC Fed Survey, Haverford Trust Co, Wells, Investment Institute, CNBC Fed, Robert Fry Economics Locations: U.S
☆ Crown Prince Frederik: Who is the new King of Denmark?
  + stars: | 2024-01-13 | by ( Lauren Said-Moorhouse | ) edition.cnn.com   time to read: +9 min
CNN —He’s been known as the Crown Prince of Denmark since the age of three, but on Sunday, he will leave Copenhagen’s Christiansborg Palace as King Frederik X, sovereign of Europe’s oldest monarchy. Denmark's Crown Prince Frederik will take over from his mother, Queen Margrethe II, when she formally steps down as monarch on Sunday. His forename was chosen in line with the Danish royal custom of the heir apparent being named either Frederik or Christian. Crown Prince Frederik began his military education in 1986 in the Queen's Life Guard Regiment. “Crown Prince Frederik is a much more informal person than his mother,” said historian Lars Hovbakke Sørensen.
Persons: CNN — He’s, Prince of, King Frederik X, Queen Margrethe II, Danes, Margrethe, Britain’s Queen Elizabeth II, Denmark’s, Prince Frederik, Hasse Nielsen, “, ” Birgitte Borup, Berlingske, “ Queen Margrethe, Borup, Frederik, ”, Frederik André Henrik Christian, Prince Henrik, Christian, Prince Joachim, Joergen Jessen, Ritzau Scanpix, Frederik Henriksen –, Frederik –, –, “ Pingo, Ida Marie Odgaard, King Charles III, Lars Hovbakke Sørensen, Trine Villemann, ” Chance, Mary Elizabeth Donaldson, Mary didn’t, Mary, VII's, Queen, ’, John Donaldson, Susan Moody, Ian Waldie, Isabella, Vincent, Josephine, Queen Margrethe, Villemann, Frederik ”, Princess, Wales, she’s Organizations: CNN’s Royal, CNN, Life Guard Regiment, Getty, Aarhus University, Harvard, UN, Danish, Frogman Corps, International Olympic, Copenhagen Cathedral Locations: Prince of Denmark, Copenhagen’s, Europe’s, Danish, Copenhagen, Normandy, France, AFP, Paris, New York, Greenland, Denmark, Faroe Islands, “, Sydney, Australia
☆ Tesla receives orders from auto regulators regarding 'Elon Mode' Autopilot
  + stars: | 2023-08-31 | by ( Brian Fung | ) edition.cnn.com   time to read: +4 min
CNN —US highway safety regulators are investigating an apparent hidden feature in Tesla’s Autopilot software that can reportedly disable the safety prompts Tesla gives to drivers to keep their hands on the steering wheel. The regulators are demanding information from the automaker about whether consumers could try to circumvent the safety controls on Tesla’s driver-assist technology. A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas. Tesla's Model Y has become the world's best selling car in the first quarter of 2023. The first, scheduled for September, involves a 2019 crash in California that saw a Tesla Model 3 driving off of a highway and slamming into a tree at high speed.
Persons: Tesla, “ Elon, ”, John Donaldson, inattention, Brandon Bell Organizations: CNN, National, Traffic, Administration, NHTSA, Bloomberg, Tesla Locations: Austin , Texas, California, Florida
☆ Tesla ordered by auto regulators to provide data on 'Elon mode' Autopilot configuration
  + stars: | 2023-08-30 | by ( Lora Kolodny | ) www.cnbc.com   time to read: +5 min
Tesla has received a special order from federal automotive safety regulators requiring the company to provide extensive data about its driver assistance and driver monitoring systems, and a once secret configuration for these known as "Elon mode." If the driver leaves the steering wheel unattended for too long, the "nag" escalates to a beeping noise. As CNBC previously reported, with the "Elon mode" configuration enabled, Tesla can allow a driver to use the company's Autopilot, FSD or FSD Beta systems without the so-called "nag." Tesla CEO Elon Musk who also owns and runs the social network X, formerly Twitter, often implies Tesla vehicles are self-driving. His use of Tesla's systems would likely comprise a violation of the company's own terms of use for Autopilot, FSD and FSD Beta, according to Greg Lindsay, an Urban Tech fellow at Cornell.
Persons: Elon Musk, Porte, Tesla, Elon, John Donaldson, Philip Koopman, Koopman, Ann Carlson, Ashok Elluswamy, Greg Lindsay, Grep, Bruno Bowden, Musk Organizations: SpaceX, Twitter, Porte de, CNBC, Traffic Safety Administration, Bloomberg, NHTSA, Automotive, Carnegie Mellon University, California DMV, FSD, Urban Tech, Cornell Locations: Paris, California
☆ One in 5 young people in Chinese cities are out of work. Beijing wants them to work in the fields
  + stars: | 2023-04-30 | by ( Laura He | ) edition.cnn.com   time to read: +7 min
Guangdong, the manufacturing powerhouse that abuts Hong Kong, said last month it will help college graduates and young entrepreneurs to find work in villages. Guangdong’s plan, which was widely panned on social media, coincided with the rate of urban unemployment among 16- to 24-year-olds surging to 19.6%, the second highest level on record. Kong Yiji, a famous literary figure from the early 20th century, has been one of the hottest memes on China’s social media since February. A tourist shop named 'Kong Yiji' in China's Zhejiang province. Other popular buzzwords have included “lying flat” and “letting it rot.”Authorities, uneasy about dissatisfaction expressed through memes, have banned the hashtag of Kong Yiji.
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