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☆ Key takeaways from the latest jobs report
▼ + stars: | 2024-03-08 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

“The economy remains strong, held up by a robust labor market,” wrote Christopher Rupkey, chief economist with FwdBonds, in a note Friday. Still, Friday’s jobs report also showed that the whopping gains initially recorded for January and December were revised down by a combined 167,000 jobs. January’s job gains now sit at an estimated 229,000 (down from the blowout 353,000); and December’s job growth at 290,000 (down from 333,000). In February, that included construction (up 23,000 jobs); transportation and warehousing (up 19,700 jobs); and retail (up 18,700 jobs). Friday’s jobs report showed that wage growth is indeed slowing.

Persons: ”, Christopher Rupkey, FwdBonds, “, ” Robert Frick, —, ” Diane Swonk, Swonk, February’s, ” Frick, Julissa Carielo, ” Swonk, Gus Faucher, Lydia Boussour, EY, Boussour, Janet Yellen, CNN’s Kate Bolduan, they’re, ” Yellen, Price, CNN’s Bryan Mena Organizations: New, New York CNN, of Labor Statistics, Navy Federal Credit Union, CNN, KPMG US, Health, Baby Boomers, Transportation Security Administration, DreamOn, Inc, Boomers, Fed, Labor, Federal, PNC Financial Services, “ Fed Locations: New York, San Antonio , Texas, Texas

In a Sunday letter to Fed Chair Powell, shared first with CNN, Warren expressed alarm at how “astronomical” mortgage rates have made a bad situation worse and urged Fed officials to start cutting borrowing costs. “We urge you to consider the effects of your interest rate decisions on the housing market and to reverse the troubling rate hikes that have put affordable housing out of reach for too many,” Warren and fellow Democratic Sens. John Hickenlooper, Jacky Rosen and Sheldon Whitehouse wrote. “Come on, Fed! Turn it around and drop those interest rates,” Warren told CNN’s Kate Bolduan on Monday.

Persons: Sen, Sherrod Brown, Powell, ” Brown, Brown, Elizabeth Warren, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, “, CNN’s Kate Bolduan, Read Organizations: Banking, Fed, CNN, Democratic

☆ Elizabeth Warren demands Fed crackdown on large regional banks
▼ + stars: | 2023-03-22 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Senator Elizabeth Warren is cranking up the pressure on the Federal Reserve following the collapse of Silicon Valley Bank. Both Silicon Valley Bank and Signature Bank fit into that asset threshold when they failed earlier this month. The bipartisan 2018 rollback of Dodd-Frank freed large regional banks in that range of assets from the toughest oversight. Notably, the letter was signed by Senator Angus King, the Maine independent who voted in favor of the 2018 rollback. Days after the bank failures, the Federal Reserve launched a review of the regulation and oversight of Silicon Valley Bank.

The councilman has defied demands for his resignation and attended last week’s meeting, amid vociferous protests, “to get back to work,” he told CNN’s Kate Bolduan before the meeting. Calls for de León’s resignation have continued since October, when audio of a year-old conversation between de Léon and fellow council members was posted anonymously on Reddit and obtained by the Los Angeles Times. Much of the conversation focused on maps proposed by the city’s redistricting commission and the council members’ frustration with them, but it also featured racist remarks about a fellow council member’s Black son and about Oaxacans. “I shouldn’t have said what I said,” de León told CNN on Tuesday, clarifying his remarks comparing White colleague Mike Bonin’s Black child to a designer handbag. De León pointed to his body of work, including his work on environmental issues and advocacy on behalf of undocumented immigrants.

☆ Paul Whelan tells CNN he is 'disappointed' that more has not been done to secure his release
▼ + stars: | 2022-12-08 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +9 min

Washington CNN —Detained American Paul Whelan expressed his frustration that more has not been done to secure his release in an exclusive CNN interview hours after another detained American, Brittney Griner, was freed. It was a choice between bringing home one particular American – Brittney Griner – or bringing home none,” a US senior administration official said Thursday morning. Elizabeth Whelan said she believes the Russians wanted to deny Biden a win by releasing both of the American wrongful detainees. Elizabeth Whelan also told CNN that she does not believe her brother knows the extent of the efforts to free him, noting the family has to be careful what they tell him because they assume the Russian authorities are listening. Asked if he thought he would face repercussions for speaking to CNN, Whelan said he didn’t think so.

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