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☆ UPDATE 1-U.S. consumer watchdog director resigns at request of Biden administration
▼ + stars: | 2021-01-20 | by ( Michelle Price | ) www.reuters.com sentiment -0.99 time to read: +2 min

(Adds more context, quotes)WASHINGTON, Jan 20 (Reuters) - Kathy Kraninger has resigned effective immediately as director of the U.S. consumer watchdog at the request of President Joe Biden’s administration, she tweeted shortly after Biden was sworn in on Wednesday, paving the way for the new president to quickly install an interim agency head. Kraninger was appointed by former Republican President Donald Trump to serve a five year term as director of the Consumer Financial Protection Bureau (CFPB) ending in 2023. Last year, however, the Supreme Court ruled in favor of a challenge, backed by the Trump administration and long-supported by most Republicans, which argued that the CFPB director served at the president’s will. It was unclear whether the White House planned to install Chopra as acting CFPB director pending his Senate confirmation, or whether Kraninger’s deputy or another CFPB staffer would lead the agency in the interim. Consumer groups have fiercely criticized Kraninger for defanging the agency by relaxing enforcement and easing rules on payday lending, mortgage lending, and debt collection.

Persons: Jan, Kathy Kraninger, Joe Biden’s, Biden, Kraninger, Donald Trump, Trump, Rohit Chopra, ” Kraninger, Chopra, Pete Schroeder, Chizu Nomiyama Organizations: Consumer Financial Protection Bureau, Republicans, Federal Trade, Kraninger, White, Democrats, Consumer Locations: WASHINGTON

As economists reflect on President Donald Trump’s economic legacy, the pandemic is undoubtedly front and center. “The major drivers of economic growth over time are population growth and technological improvements. “Trump’s trade policy was dictated by his personal belief that tariffs are good and trade wars are easy to win, and that China is paying all these tariffs. That is demonstrably wrong, and this unilateral imposition of trade tariffs not just on China but on American allies has been a total, abject failure,” Kirkegaard said. Economic output expanded, but at a rate that fell far short of the 4 percent GDP growth Trump had promised.

Persons: Donald Trump’s, Trump, ”, Jamie Cox, ” Cox, Peter Essele, Joe Biden, Sam Stovall, ” Daniel Zhao, “, ” Essele, Donald Trump, Scott Paul, Jacob Kirkegaard, Kirkegaard, Biden, ” Kirkegaard, We’re, that’s, “ It’s, Eric Toder, Essele, Covid, “ We’ve, ” Toder Organizations: Harris Financial, Wall, Federal, Commonwealth Financial Network, CFRA Research, Glassdoor, Industry, ” Alliance for American Manufacturing, Trump, Peterson Institute for International Economics, U.S, Urban, Brookings Tax, Center, Tax Foundation, Treasury Locations: America, U.S, China, United States, Mexico, Canada

☆ Factbox: Jailed Kremlin foe Navalny's 'Putin's palace' video goes viral
▼ + stars: | 2021-01-20 | by ( Reuters Staff | ) www.reuters.com + 0.00 time to read: +3 min

MOSCOW (Reuters) - A feature-length video into an opulent palace jailed Kremlin critic Alexei Navalny alleges is owned by Russian President Vladimir Putin has gone viral online, garnering over 25 million views on YouTube in 24 hours. FILE PHOTO: Russian opposition leader Alexei Navalny and his wife Yulia Navalnaya walk out of a plane after arriving at Sheremetyevo airport in Moscow, Russia January 17, 2021. The Kremlin has dismissed Kolesnikov as an aggrieved man, saying he left Russia because of business disputes. - A Russian billionaire announced in 2011 that he had bought the unfinished estate from a Putin associate for an undisclosed sum. He said at the time that he viewed the property as an investment project and would rent parts of it out.

Persons: Alexei Navalny, Vladimir Putin, Yulia Navalnaya, Polina Ivanova, Putin, ”, Sergei Kolesnikov, Dmitry Medvedev, Kolesnikov, Vladimir Kozhin Organizations: YouTube, REUTERS, Wednesday, Reuters, Kremlin, Federal Guard Service, Kremlin’s Department, Presidential Affairs, Kommersant Locations: MOSCOW, Russian, Sheremetyevo, Moscow, Russia, Gelendzhik

☆ Fact check: Bus near Capitol ahead of inauguration is probably a National Guard troop transporter, not a ‘prison bus’
▼ + stars: | 2021-01-20 | by ( Reuters Staff | ) www.reuters.com + 0.00 time to read: +3 min

A spokesperson for the National Guard, however, said the bus looks like one of their standard troop transport buses. It seems to be a malicious use of our content.”The bus is most likely a National Guard bus. Nahaku McFadden, Media Operations Chief at the National Guard Bureau of Public Affairs told Reuters via email that the bus “looks like a standard troop transport bus”. Part of the front of a similar bus transporting National Guard troops can be seen in this Reuters photo here . The bus shown in the photos and videos looks like a National Guard bus used to transport troops to support inauguration missions, not a “prison bus”.

Persons: Joe Biden, ” Biden, Laura Lucchini, “ Ruptly, Nahaku McFadden, Read Organizations: Capitol, National Guard, U.S . Capitol, Washington D.C, Washington, White House, Media, National Guard Bureau of Public Affairs, Reuters, Federal Bureau of Prisons Locations: Washington , U.S, United States, U.S, Washington, Lansing , Michigan

☆ Analysis: Rising U.S. bond market inflation gauge masks extent of pandemic shock
▼ + stars: | 2021-01-20 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com + 0.00 time to read: +4 min

The U.S. 10-year inflation breakeven rate, the yield difference between 10-year Treasuries and 10-year TIPS, rose to 2.113% on Tuesday, the highest in more than two years, climbing more than 45 basis points since early November. The TIPS breakeven shows that investors expect inflation to average 2.1% a year over the next 10 years. U.S. 10-year breakeven inflation rateSome investors believe, however, that rising breakeven rates do not necessarily suggest inflation will keep on increasing as well. Overall, the annual inflation rate is still below the 1.7% average over the last 10 years. Extrapolating from the Cleveland Fed’s estimates, Gittler said it would likely take 15 years for the economy to achieve a 2% inflation rate.

Persons: Joe Biden, Yuriko, ”, Kelly Ye, Ye, Richard Clarida, Marshall Gittler, Gittler, Paul Brain, you’ve, ” Brain Organizations: YORK, REUTERS, Securities, Federal Reserve, Fed, York Life Investment Management Holdings, CPI, Wells, Wells Fargo Securities, “, BDSwiss Group, Cleveland, Newton Investment Management Locations: Tokyo, U.S, Wells Fargo, Cleveland, Newton

Salomon Melgen: Trump commuted the prison sentence of Melgen, an eye doctor and major Democratic donor convicted of defrauding Medicare patients. Urlacher faced two counts in the case, each of which had carried a potential prison sentence of five years. Here is the full list, as provided by the White House:Abel Holtz – President Trump granted a full pardon to Abel Holtz. Jaime A. Davidson – President Trump commuted the sentence of Jaime A. Davidson. Those assisted by Ms. Povah’s organization include Ms. Adrianne Miller, whose remaining prison sentence the President commuted.

Persons: Donald Trump, Steve Bannon, Elliott Broidy, Alex Adjmi, Adjmi, Fred Keith Alford, Alford, Michael Ashley, Ashley, Stephen K, Bannon, Trump's, —, Guo Wengui, Lynn Barney, Trump, David Barren, Barack Obama, Faustino Bernadett, Bernadett, “, ”, Carl Andrews Boggs, Boggs, Kristina Bohnenkamp, Todd Boulanger, Jack Abramoff, Boulanger, Abramoff, Jonathon Braun, Braun, Broidy, Dwayne Michael Carter Jr, Carter, Lil Wayne, Randall “ Duke ” Cunningham, Paul Erickson, Erickson, Rodney Nakia Gibson, Gibson, Jeffrey Rosen, couldn’t, George Gilmore, Gilmore, Chris Christie, Gregory, Martin Jorgensen, Deborah Jorgensen, Gregory Jorgensen, Bill K, Bill Kapri, Kwame Kilpatrick, Kilpatrick, Kenneth Kurson, Kurson, Jared Kushner, Anthony Levandowski, Salomon Melgen, New Jersey Sen, Bob Menendez, Desiree Perez, Perez, Jay, Rick Renzi, Aviem Sella, Sella, Jonathan Jay Pollard, Benjamin Netanyahu, Brian Simmons, Syrita Steib, Syrita, Steib, Patrick Lee Swisher, Patrick Swisher, Swisher, David Tamman, Tamman, Casey Urlacher, Urlacher, Brian Urlacher, Monstsho Eugene Vernon, Vernon, Blanca, Blanca Virgen, Virgen, Jerry Donnell Walden, Walden, John Harold Wall, Wall, ’, William Walters, Las, Walters, Harry Reid, Phil Mickelson, Eliyahu Weinstein, Weinstein, Brett Tolman, Bob Barr, Alan Dershowitz, Shalom Weiss, Weiss, Jay Sekulow, Tom Leroy Whitehurst, Whitehurst, he’s, Caroline Yeats, Chris Young, Young, Kim Kardashian, Robert, Bob, Zangrillo, Robert Zangrillo, Abel Holtz –, Abel Holtz, Representative Mario Diaz, Balart, Holtz, Jaime A, Davidson, Davidson’s, Alice Johnson, James E, Johnson, Jr, Tommaso Buti, Buti, Jawad A, Musa –, Musa, Adriana Shayota –, Adriana Shayota, Shayota, John McCann, Glen Moss, Moss, Michael Liberty, Liberty’s, Susan Austin, Matthew E, Anthony Fratianne, Liberty, Greg Reyes, Shon Hopwood, Reyes, Ferrell Damon Scott, Sam Sheldon, …, Scott, Ms, Mr, Jeffrey Alan Conway, Conway’s, Gary N, Solomon, Ely Hurwitz, Conway, Benedict Olberding, Olberding, Lou Hobbs, Hobbs, Matthew Antoine Canady –, Matthew Antoine Canady, Canady, Mario Claiborne, Claiborne, Luis Fernando Sicard, Sicard, DeWayne Phelps, Phelps, Isaac Nelson –, Isaac Nelson, Nelson, Traie Tavares Kelly, Kelly, Javier Gonzales, Gonzales, Eric Wesley Patton, Rod Rosenstein, Patton, Robert William Cawthon –, Robert William Cawthon, Cawthon, Hal Knudson Mergler, Mergler, Gary Evan Hendler –, Gary Evan Hendler, Hendler, Tom Wolf, Steven Samuel Grantham, Grantham, Clarence Olin Freeman, Freeman, John Knock, Kenneth Charles Fragoso, Fragoso, Luis Gonzalez, Gonzalez, Anthony DeJohn, DeJohn, Corvain Cooper, Cooper, Long, . Long, Michael Pelletier –, Michael Pelletier, Pelletier, Craig Cesal, Cesal, Darrell Frazier, Frazier, Joe Johnson, Lavonne Roach, Roach, Robert Francis –, Robert Francis, Francis, Houston , Texas Derrick Smith, Derrick Smith, Smith, Raymond Hersman, Hersman, James Romans, Michael Harris, Harris, Kyle Kimoto, Kimoto, Chalana McFarland, McFarland, John Estin Davis, Caroline Bryan, Luke Bryan, Ellen Boyer, Amy Davis, Kim Davis, Brandon McWherter, Sheila McWherter, Jeff Hall, Brad Maltz, Brent Ford, Mark Lotito, Keri Rowland, Mark Rowland, Stephen Stock, Davis, Douglas Jemal, Jemal, Noah Kleinman –, Noah Kleinman, Kleinman, Scott Harkonen, Harkonen, Johnny D, Phillips, Rand Paul, Mahmoud Reza Banki, John Lewis, Diane Feinstein, Banki, Tena Logan, Logan, MaryAnne Locke, Locke, Jodi Lynn Richter, Richter, Mary Roberts –, Mary Roberts, Roberts, Cassandra Ann Kasowski, Kasowski, Lerna Lea Paulson, Paulson, Ann Butler, Butler, Sydney Navarro, Navarro, Tara Perry, Perry, John Nystrom, Kristi Noem, Michael Rounds, . Nystrom, Nystrom, Jessica Frease, Lynne Hix, Frease, Robert Cannon, Robin ” Hayes, Hayes, Thom Tillis, Thomas Kenton “ Ken ” Ford, Ken Ford, Ford’s, Ford, ” Jon Harder, Jon Harder, Michael Hogan, Ford Elsaesser, Harder, Judge Hogan, Elsaesser, Scott Conor Crosby, Crosby, Martha McSally, Adrianne Miller, Miller, Joshua J, Smith ., Bill Lee, Tim Burchett, Tennessee Department of Corrections Tony Parker, David Rausch, Amy Povah, Povah, Clinton, Frederick Nahas, Jeff Van Drew, Dr, Nahas, Fred “ Dave ” Clark, Dave Clark’s, Ken Starr, Clark, Todd Farha, Thaddeus Bereday, William Kale, Paul Behrens, Peter Clay –, Peter Clay, Farha, Kale, Behrens, Clay, David Rowland –, David Rowland, Lindsey Graham, Rowland, Stephen Odzer, Matthew Whitaker, Sigmund “ Sig ” Rogich, Jason Greenblatt, Michael Steinhardt, Wayne Allyn Root, Salvador Moran, Odzer, James Brian Cruz –, James Brian Cruz, Cruz’s, Robert Jeffress, Kelly Shackelford, Cruz, ” Mr, ” Steven Benjamin Floyd –, Steven Benjamin Floyd, Mark Green, Floyd, Joey Hancock, Roger Wicker, Hancock, David E, Governor Lee, ” James Austin Hayes, James Austin Hayes, Hayes’s, Paula White, Rick Hendrick, Jeff Gordon, Drew Brownstein, Makan Delrahim, Brownstein, Robert Bowker, Bowker’s, Ann Marie Pallan, Sherriff Butch Anderson, Robert Trump, Bowker, Lacey, Rudy “, Komarek, Amir Khan, Khan, Jude Children’s, Robert Sherrill –, Robert Sherrill, Sherrill, Robert S, Corkern, Cindy Hyde, Phil Bryant, Michael Mansour, David Lamar Clanton, Alton Shaw, Mark Galtelli, Terri Rielley, Clanton, Clanton’s, Hillel Nahmad, Nahmad, Brian McSwain –, Brian McSwain, McSwain, John Duncan Fordham, Fordham, William “ Ed ” Henry –, William “ Ed ” Henry of Alabama, Tommy Tuberville, Henry, Jeff Cheney, Marquis Dargon, Jennings Gilbert, Dwayne L, Harrison, Reginald Dinez Johnson, Sharon King, Hector Madrigal, Sr Organizations: America, White, Prosecutors, . Postal Inspection Service, Attorney’s, Department of Justice, Customs, Republican National Committee, Trump, California Republican, NRA, GOP, New, New Jersey Gov, New York Observer, cyberstalking, Technologies, Roc Nation, Former U.S . Rep, Israeli, Securities and Exchange Commission, Chicago Bears, National Association of Criminal Defense, U.S, University of Southern, Representative, City, City of Miami Beach, Mr, –, UNICEF, St Jude's Hospital for Children, Breast Cancer, Colon Cancer Foundation, Danbury Hospital, Michael Liberty –, United, Communications, Circuit, Appeals, CAN, DO Foundation, Bureau of Prisons, Mario Claiborne –, AA, Pennsylvania, United States Navy, UNICOR, Catholic, Joe Johnson Tennis Foundation, Chalana McFarland –, United States, Middle, Middle District of, University of California, Princeton University, Sydney, Sydney Navarro –, Crowe, Sunday, Knights, Habitat, Humanity, North, North Carolina Republican Party, National Council of Republican, North Carolina Congressional, Thomas Kenton “ Ken ” Ford –, Sunwest Management Inc, Federal, Mayor, State of, Offenders, Smith . Tennessee, Tennessee Department of Corrections, Tennessee Bureau, Fred “ Dave ” Clark –, Aleph Institute, CATO Institute, Reason Foundation, National Association of Criminal Defense Lawyers, Messrs, Service, Baptist Church, First Liberty Institute, United States Marines Corps, Valor, Hendrick Motorsports, NASCAR, Antitrust, Boys & Girls, Jewish Family Services of Colorado, Miami, Humane Society of, World Wildlife Fund, Wildlife Conservation Society, St, Jude, Jude Children’s Hospital, Boys Town, Covenant, Towers Foundation, Salvation Army, Mississippi Army National Guard, District Locations: Covid, Malaysian, California, Florida, New Jersey, Detroit, Former, Arizona, Israeli, Israel, U.S, New Orleans, Charlotte , North Carolina, Mettawa , Illinois, Greenville , South Carolina, Blanca Virgen, Mexico, Las Vegas, Lakewood , N.J, Miami , FL, South Florida, City of Miami, Italian, United States, Baltimore , Maryland, Chula Vista , California, Ann's, UNICOR, Houston , Texas, American, Middle District, Middle District of Tennessee, Iranian American, Berkeley, Los Angeles, Knights of Columbus, South Dakota, North Carolina, Government, Sunwest’s, Mesa , Arizona, State of Arizona, America, overcriminalization, New York City, Dallas , Texas, Iraq, Denver, District of South Carolina

(Reuters) - Morgan Stanley’s profits surged in the fourth quarter, comfortably beating estimates as the Wall Street bank’s trading business benefited from coronavirus-induced volatility in financial markets. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. High trading volumes during the quarter, stemming from the U.S. elections and the release of coronavirus vaccines, benefited the bank’s trading unit, which is housed within the institutional securities business. Morgan Stanley’s most comparable rival, Goldman Sachs Group Inc, on Tuesday posted a blockbuster fourth-quarter profit that dwarfed Wall Street estimates, but executives warned that capital markets activity fueling results lately will probably slow down. Morgan Stanley’s revenue from sales and trading rose to $4.22 billion from $3.19 billion.

Persons: Morgan, Morgan Stanley, Lucas Jackson, James Gorman, Eaton Vance, Morgan Stanley’s, Goldman Organizations: Reuters, New York U.S, REUTERS, Federal Reserve, Analysts, Goldman Sachs Group Inc Locations: New York

☆ Analysis: Biden's first year could see record employment growth. More will be needed
▼ + stars: | 2021-01-20 | by ( Jonnelle Marte | ) www.reuters.com + 0.00 time to read: +6 min

Only slightly more than half of the 22 million jobs lost in the pandemic were regained by the end of last year. As Biden takes the oath of office on Wednesday, the job market awaiting him presents a monumental challenge. Under the new approach, policymakers will no longer raise interest rates preemptively when the labor market is heating up in anticipation of faster inflation. PAIN UNEVENLY SPREADIt took more than six years for the U.S. labor market to recoup all of the jobs lost during the last recession. Fed Chair Jerome Powell said last week that he is hopeful the labor market may surpass pre-crisis levels soon.

Persons: Joe Biden’s, Joe Biden, Mark Makela, Biden, It’s, we’ve, ”, Diane Swonk, Grant Thornton, “, Janet Yellen, ” Yellen, “ They’re, Mark Zandi, Chris Van Hollen, Cecilia Rouse, Biden’s, William Spriggs, Kathryn Anne Edwards, Jerome Powell, “ We’ve Organizations: Reuters, Presidential, Wisconsin Aluminum Foundry, REUTERS, Biden Biden, Federal, Treasury, Fed, Moody’s Analytics, of Economic Advisers, AFL, Rand Corporation, Princeton University, “ Locations: Wisconsin, Manitowoc , Wisconsin, U.S

☆ ANALYSIS-Biden's first year could see record employment growth. More will be needed
▼ + stars: | 2021-01-20 | by ( Jonnelle Marte | ) www.reuters.com + 0.00 time to read: +5 min

Persons: Joe Biden’s, Biden, It’s, we’ve, ”, Diane Swonk, Grant Thornton, “, ” Biden, Janet Yellen, ” Yellen, “ They’re, Mark Zandi, Chris Van Hollen, Cecilia Rouse, Biden’s, William Spriggs, Kathryn Anne Edwards, Jerome Powell, “ We’ve Organizations: Federal, Treasury, Fed, Moody’s Analytics, of Economic Advisers, AFL, Rand Corporation, Princeton University, “ Locations: U.S

☆ Trump's parting gifts to Biden: Roaring stocks, a weaker dollar, tons of debt
▼ + stars: | 2021-01-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com + 0.00 time to read: +4 min

Ultra-low Treasury yields - which plunged after the Fed cut interest rates to near-zero - have also increased the allure of stocks. 100 DAYSIf history is any guide, the stock market should give Biden a warm welcome. The S&P 500 has risen in the first 100 calendar days in eight of the last 10 presidential terms. Biden is also inheriting a dollar that’s fallen 12% from last year’s highs. Policy-related economic uncertainty as measured by www.policyuncertainty.com , based on mentions of economic uncertainty in news articles, is currently higher than it was following 9/11 or the Great Financial Crisis.

Persons: Joe Biden, Kevin Lamarque, Donald Trump, Biden, Biden’s, Trump, Janet Yellen Organizations: YORK, Federal Reserve, White House, REUTERS, TRUMP, Trump, Democratic, Fitch, United, U.S Locations: Wilmington , Delaware, U.S, United States, China

☆ Trump pardons ex-aide Bannon but not himself or family
▼ + stars: | 2021-01-20 | by ( Steve Holland | ) www.reuters.com + 0.00 time to read: +5 min

White House officials had argued to Trump that he should not pardon himself or his family because it might look like they are guilty of crimes, according to a source familiar with the situation. “Bannon has been an important leader in the conservative movement and is known for his political acumen,” the White House said in a statement. White House officials had advised Trump against pardoning Bannon. He was fired from his post at the White House in August 2017. Kodak Black, 23, who was born Bill Kahan Kapri, is in federal prison for making a false statement in order to buy a firearm.

Persons: Donald Trump, Steve Bannon, commutations, Rudy Giuliani, Andrew Kelly Trump, Joe Biden, Trump, Bannon, “ Bannon, pardoning Bannon, Elliott Broidy, Kwame Kilpatrick, Lil Wayne, Giuliani, Michael Flynn, Roger Stone, Breitbart, Trump’s, Daniel R, Alonso, Buckley, Broidy, Dwayne Michael Carter Jr, Bill Kahan Kapri Organizations: WASHINGTON, White, White House, Manhattan Federal, REUTERS, Trump, Detroit, Kodak, Democratic, U.S, Capitol, National Security, FBI, Manhattan, Attorney’s Locations: Manhattan, New York City , New York, U.S, Mexico, Ukraine, Russian, New York

☆ FCC rejects request by U.S. agencies to halt Ligado network approval
▼ + stars: | 2021-01-20 | by ( David Shepardson | ) www.reuters.com sentiment -1.00 time to read: +2 min

FILE PHOTO: Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew KellyWASHINGTON (Reuters) - The Federal Communications Commission late Tuesday voted 3-2 to reject a bid by U.S. government agencies to freeze its decision to allow Ligado Networks to deploy a nationwide mobile broadband network. The FCC said Ligado’s deployment plans are not finalized and it is in talks with U.S. agencies about the network’s potential impact on government GPS systems. FCC Commissioner Nathan Simington, who voted to reject the stay, said the agency has not evaluated the merits of the request for reconsideration. He noted Congress required a definitive technical review of the Ligado spectrum order by the National Academies of Sciences.

Persons: Andrew Kelly WASHINGTON, Joe Biden, Ajit Pai, ” Pai, Lockheed Martin, Ligado, Nathan Simington, ” Simington Organizations: Federal Communications Commission, Washington , D.C, REUTERS, U.S, Ligado Networks, U.S . Commerce Department’s National Telecommunications and Information Administration, Defense, Transportation, FCC, Air Line Pilots Association, Association of Equipment Manufacturers, International Air Transport Association, Airlines for America, Iridium Communications, Lockheed, National Academies of Sciences Locations: Washington ,, U.S

☆ Trump issues pardons and commutations in a final wave of executive clemency grants before leaving office
▼ + stars: | 2021-01-20 | by ( Sonam Sheth | Lauren Frias | ) www.businessinsider.com + 0.00 time to read: +5 min

President Trump issued pardons and commutations on Tuesday as one of his final actions in office. President Donald Trump issued a slow trickle of pardons and commutations late Tuesday night and early Wednesday morning, as one of his final acts before he leaves office on Wednesday. Names on the list included:George Papadopoulos, a former Trump campaign foreign policy aide who pleaded guilty to lying to the FBI in the Mueller probe. Alex van der Zwaan, a Dutch lawyer who pleaded guilty to lying to the FBI in the Mueller probe. Former Republican congressman Chris Collins, who pleaded guilty to making false statements to the FBI and conspiring to commit securities fraudFormer Republican congressman Duncan Hunter and his wife, Margaret, who pleaded guilty to misusing campaign funds.

Persons: Trump, commutations, Donald Trump, Ivanka, Jared Kushner, Department's, Steve Bannon, Kwame Kilpatrick, Lil Wayne, Elliott Broidy, Mark Holden, Alice Johnson, George Papadopoulos, Mueller, Alex van der, Roger Stone, Paul Manafort, Charles Kushner, Jared's, Steve Stockman, Chris Collins, Duncan Hunter, Margaret, Michael Flynn Organizations: Washington Post, The New York Times, The New York Times Former Detroit, Reuters, RNC, The, The Times, Koch Industries, White House, CNN, Trump, FBI, Republican, Federal, Commission, Former Republican, Blackwater, Border Patrol, Justice Department, Fox News, America Locations: The Washington, Dutch, Baghdad's

☆ US stock futures climb and dollar falls after Janet Yellen urges spending spree ahead of Joe Biden's inauguration
▼ + stars: | 2021-01-20 | by ( Harry Robertson | ) www.businessinsider.com + 0.00 time to read: +4 min

US stock futures rose after Janet Yellen called for a 'big' stimulus package. The dollar slipped and bonds flatlined as investors rotated into riskier assets such as shares. US stocks were set to open higher on Wednesday - the day of Joe Biden's inauguration as the 46th president of the United States - while the dollar slipped and bond prices flatlined. Dow Jones futures were 0.14% higher while Nasdaq futures had climbed 0.69%. Gold rose 0.89% as the dollar slipped to $1,856.75 per ounce.

Persons: Janet Yellen, Joe Biden, Joe Biden's, Dow Jones, GOLDMAN SACHS, Seng, Biden, Jim Reid, Biden's, Donald Trump's, Read, Michael Saylor, Traders, Bonds, Jeffrey Halley Organizations: Bell, Federal Reserve, Dow, Nasdaq, Read, CSI, Deutsche Bank, Treasury, Brent, Republicans Locations: United States, China, Bitcoin

☆ Leon Cooperman sees 'euphoria' in parts of market, says he's skeptical on long-term outlook
▼ + stars: | 2021-01-20 | by ( Kevin Stankiewicz | ) www.cnbc.com sentiment -0.96 time to read: +2 min

Billionaire investor Leon Cooperman told CNBC on Wednesday he believes the stock market will struggle to generate meaningful returns in the years ahead, following its robust recovery from pandemic-era lows in the last 10 months. "I think the near-term outlook is probably OK. Long term, I think that we're borrowing from the future," Cooperman said on "Squawk Box." I think that's what we're looking at," added the chairman of the Omega Family Office. As he surveys the market, Cooperman said his approach is to "look for value." Instead, he said he voted "my values, and my values did not lie with President Trump."

Persons: Leon Cooperman, Cooperman, you've, Joe Biden, Donald Trump, Biden, Trump Organizations: CNBC, Omega, Federal Reserve, Congress, Democrat

☆ A retired NYC firefighter faces charges over the Capitol breach after texting his girlfriend's brother — a federal agent — a selfie from the riot
▼ + stars: | 2021-01-20 | by ( Ashley Collman | ) www.businessinsider.com + 0.00 time to read: +4 min

A retired New York City firefighter was charged in connection to the Capitol breach after texting his girlfriend's brother, a federal agent, a selfie showing him inside the building's rotunda during the riot, according to a criminal complaint. Jose Luis Magana/APThe special agent proceeded to text Fee, his sister's boyfriend, to ask him if he was in Washington, DC, according to the complaint. The complaint said that Fee responded by sending a selfie to the special agent, showing him inside the Capitol rotunda as other rioters waved flags and took pictures behind him. While the special agent initially deleted the communications, he was able to retrieve them and forward them to the DSS, according to the complaint. It is not clear if Fee was aware that his girlfriend's brother was a special agent when he sent the selfie and messages.

Persons: Thomas Fee, Fee's, Fee, State Department —, Donald Trump, Jose Luis Magana, Pelosi, Tasos Katopodis, Read, Trump, Joe Biden's, Biden Organizations: US Diplomatic Security Service, New York, New York Post, New, New York City Fire Department, Capitol, State Department, Facebook, Trump, DSS, Terrorism Task Force, US National Guard, NBC, Freeport Fire Department, WABC, FBI, National Guardsmen, DC, Guardsmen Locations: New, New York City, Washington , DC, NBC New York, Freeport, Long, Hurricane, Hempstead

☆ Jim Cramer says the stock market could 'explode' if Biden improves Covid vaccine rollout
▼ + stars: | 2021-01-20 | by ( Kevin Stankiewicz | ) www.cnbc.com + 0.00 time to read: +2 min

I never thought it would be this bad," Cramer said of the vaccine rollout on "Squawk Box." Biden has pledged to deliver 100 million doses in his first 100 days. Even so, Cramer said Biden has set a high bar with his 100-day vaccine pledge. As of Tuesday morning, the U.S. has administered 15.7 million vaccine doses, according to data compiled by the Centers for Disease Control and Prevention. There have been 31.2 million doses distributed.

Persons: Joe Biden, Jim Cramer, Cramer, Biden, We've, I'm, we've Organizations: Pfizer, Moderna, National Guard, Federal Emergency Management Agency, U.S ., Centers for Disease Control Locations: U.S

☆ Biden will ask the Dept. of Education on his first day to extend the pause on federal student loan payments through the end of September
▼ + stars: | 2021-01-20 | by ( Ayelet Sheffey | ) www.businessinsider.com sentiment -1.00 time to read: +2 min

President-elect Joe Biden will ask the Department of Education on Wednesday to extend the pause on federal student loan payments through September 30. President-elect Joe Biden plans to ask the Department of Education on Wednesday to extend the pause on federal student loan payments through September 30, marking his first move to act on student debt in America. The extension applies to the 42 million federal student loan borrowers in the country. of Education Betsy DeVos extended the pause on loan payments through the end of January. If Biden's request to extend the pause on student loan payments is approved, each federal loan borrower will see their payments suspended without accrual of interest.

Persons: Joe Biden, Brian Deese, Deese, Betsy DeVos, Biden's, Biden, Sen, Elizabeth Warren of Organizations: of Education, Democratic, National Economic Locations: America, Elizabeth Warren of Massachusetts

☆ While the U.S. may be closer than ever to a $15 federal minimum wage, the idea still faces stiff opposition
▼ + stars: | 2021-01-20 | by ( Carmen Reinicke | ) www.cnbc.com + 0.00 time to read: +2 min

With Joe Biden's inauguration as President of the United States, the country is perhaps closer than ever to a $15 federal minimum wage. Under the plan, Biden will call on Congress to raise the federal minimum wage to $15 per hour from the current $7.25. The federal minimum wage has not been increased since 2009. While boosting the federal minimum wage to $15 is popular among some lawmakers, activists and consumers, it still faces a lot of opposition to becoming law. Elizabeth Warren, D-Mass., on Friday seemed to reference using reconciliation to pass a $15 minimum wage.

Persons: Joe Biden's, Biden, Deepak Chopra, Mitch McConnell, it's, Sen, Pat Toomey, Elizabeth Warren, Sarah Binder Organizations: McDonald’s Corporation, U.S . House, Senate, Republican, Democratic, George Washington University, Brookings Institution Locations: Fort Lauderdale , Florida, United States, Invest, Ky

☆ Here's why Biden's presidency will be good for the US cannabis industry, even though it's unlikely he'll legalize marijuana federally
▼ + stars: | 2021-01-20 | by ( Jeremy Berke | ) www.businessinsider.com + 0.00 time to read: +7 min

President Joe Biden supports decriminalizing cannabis, broadening access to medical marijuana, and allowing states to determine their own marijuana policies free of federal interference. Federal marijuana reform became more likely after Democrats picked up two Senate seats in Georgia, giving the party control of the chamber. President Joe Biden will be good — but not great — for the cannabis industry, analysts, executives, and other experts say. Marijuana decriminalization is a key pillar of Biden's criminal justice reform planStill, marijuana companies face some headwinds. But that will provide an opportunity for US cannabis companies, like Green Thumb Industries and Curaleaf, to continue growing before Canadian cannabis companies and established companies from other industries start snapping up market share.

Persons: Joe Biden, Biden, Kamala Harris, It's, Cowen, Read, Jefferies, Harris, Sen, Chuck Schumer Organizations: Democratic, Cannabis, Senate, Gallup, Reinvestment, CSA, Democrats, Analysts, Congress, Green Thumb Industries Locations: Georgia, New Jersey, Arizona

☆ Trump didn't pardon himself. Here's the massive tsunami of legal peril that now awaits him.
▼ + stars: | 2021-01-20 | by ( Dave Levinthal | ) www.businessinsider.com + 0.00 time to read: +20 min

Former President Donald Trump faces numerous legal issues at the federal and state levels that could last for years. Trump could face criminal and civil matters at the federal, state, and local levels. By doing so, the now ex-president opened himself up to federal, state, and local prosecution for election-law violations, several election-law experts told Insider. Whether Georgia Attorney General Chris Carr does anything is another matter. Three Democratic members of Congress, in two separate requests filed in late December, have asked the Department of Justice and Federal Election Commission to investigate whether the company violated election laws.

Persons: Donald Trump, Donald Trump's, —, Trump, Sen, Mitch McConnell, Brad Raffensperger, preemptively absolving, Michael Sherwin, Rudy Giuliani, Win McNamee, Raffensperger, Don Beyer, Ted Lieu, There's, Fani Willis, Willis, Chris Carr, Carr, Marc Hershovitz, Richard Nixon, Mark Meadows, Cleta Mitchell, Kurt Hillbert, Kurt Kastorf, Kastorf, Bryan Sells, Jake Evans, Jared Kushner, Brendan Smialowski, Trump's, Eric Trump, Joe Biden's, Bill Pascrell, Cy Vance, Drew Angerer, Letitia James, Cyrus Vance, Vance, Alan Dershowitz, brouhaha, Mueller, Ivanka Trump, JIM BOURG, General Karl Racine of, Stormy Daniels, Michael Cohen, aren't, Giuliani, Biden, Hunter —, Lev Parnas, Igor Fruman, Sheldon Whitehouse, Susan Walsh, Democratic Sen, Whitehouse Organizations: Trump, Federal, US Capitol Police, Tuesday, Georgia, Capitol, White, Capitol Police, District of Columbia, New York City, Department, Justice, Capitol Building, Republican, Virginia Democrat, Democratic, Peach, New York Times, ABC News, White House, Justice Department, Holland & Knight, Campaign Finance Commission, Getty, American Made Media Consultants, Department of Justice, Commission, National Defense, US, Department of, Treasury, Treasury Department, New, New Jersey Democrat, Manhattan, Officials, State, New York, Trump Organization, IRS, Reuters, The New York Times, Biden, Trump International Hotel, DC, Southern, of, National Commission, BP, Horizon Oil Locations: Washington , DC, New York, Georgia, Washington, Virginia, Ted Lieu of California, Fulton County, Atlanta, Peach State, Fulton, United States, AFP, New Jersey, Maryland, General Karl Racine of Washington, of New York, Ukrainian, Rhode Island

☆ An Iowa airport will conduct coronavirus screenings of all outgoing passengers.
▼ + stars: | 2021-01-20 | by ( Niraj Chokshi | ) www.nytimes.com + 0.95 time to read: +1 min

The airport in Cedar Rapids, Iowa, will conduct mandatory coronavirus screenings for all outbound passengers starting on Monday, one of the first airports in the country to take advantage of a decision to allow such evaluations by the Federal Aviation Administration last month. Under the new “Travel Well” program, the Eastern Iowa Airport will ask a handful of short screening questions and take the temperature of each departing passenger. Travelers who show no signs of having the coronavirus and have no exposure to it will be sent on to the Transportation Security Administration checkpoint. “The Travel Well program will provide an efficient approach to screening passengers and employees,” Marty Lenss, the airport’s director, said in a statement. Eastern Iowa Airport offers nonstop service to 14 destinations on flights operated by American Airlines, Delta Air Lines, United Airlines and others.

Persons: ” Marty Lenss Organizations: Federal Aviation Administration, Eastern Iowa, Travelers, Transportation, Administration, Iowa Airport, American Airlines, Delta Air Lines, United Airlines Locations: Cedar Rapids , Iowa

☆ SpaceX may have purchased 2 oil rigs off the coast of Texas that could be turned into 'floating' Starship launchpads
▼ + stars: | 2021-01-20 | by ( Annabelle Williams | ) www.businessinsider.com + 0.00 time to read: +3 min

SpaceX appears to have acquired two oil rigs that it may transform into launch platforms for its forthcoming Starship rocket system, NASASpaceflight reported. But now they're also the newly christened names of two oil rigs off the Texas coast. These rigs will likely be transformed into launchpads for SpaceX Starship rockets, NASASpaceflight reported on Tuesday. While SpaceX has yet to confirm it's involved in the purchase of the oil rigs, it wouldn't be a surprise. SpaceX did not immediately respond to a request for comment on whether it purchased the oil rigs or any plans for them.

Persons: they're, NASASpaceflight, Elon Musk, Thomas Burghardt, Michael Baylor, Bret Johnson, it's, Musk Organizations: SpaceX, Lone Star Mineral Development, Baylor, Boca Chica, Federal Aviation Administration Locations: Boca Chica , Texas, Texas, California, Boca, Boca Chica, Mars

☆ The Fed under Biden: New mandates, a close White House tie and big challenges ahead
▼ + stars: | 2021-01-20 | by ( Jeff Cox | ) www.cnbc.com + 0.00 time to read: +5 min

But that doesn't mean the U.S. central bank won't face pressure as it looks to navigate its way through a new administration. For his part, Biden won't be nearly as vocal as Donald Trump was when the ex-president hectored the Fed for even lower rates. But all presidents watch the Fed closely, and Biden won't be an exception as he looks to get through the current crisis. Most everyone in public office likes low rates, and Biden won't be an exception. So while the Fed during the Biden administration can expect to face less overt attacks, it still will be under various levels of pressure.

Persons: Jerome Powell, Drew Angerer, Joe Biden's, Janet Yellen, Biden, Donald Trump, hectored, Trump, Christopher Whalen, Whalen, He'll, George Selgin, Selgin, There's Organizations: Banking, Housing, Urban Affairs, Reuters, Federal Reserve, Whalen Global Advisors, Center for Monetary, Cato Institute, Fed, Network, Greening Locations: Washington , DC, U.S, Japan, stoke

☆ Exclusive: Biden administration considers creating White House antitrust czar - sources
▼ + stars: | 2021-01-19 | by ( Diane Bartz | Nandita Bose | ) www.reuters.com sentiment -0.98 time to read: +1 min

REUTERS/Tom Brenner/File PhotoWASHINGTON (Reuters) - The incoming administration of U.S. President-elect Joe Biden is considering creating a White House position focused on competition policy and issues relating to antitrust, two sources familiar with internal deliberations said. The idea remains under consideration and the Biden White House may not ultimately make the move, one of the sources said. “It is yet to be determined if this will be more of a coordinator kind of a role or if this person will really sit at the White House,” said another source. On Saturday, Reuters reported that two former Obama administration officials had emerged as Biden’s front-runners for the top antitrust job at the Department of Justice. The Justice Department sued Google and the FTC sued Facebook while investigations are ongoing into Amazon and Apple.

Persons: Joe Biden, Joseph R, Beau, Biden, Tom Brenner, ” Organizations: Biden III National Guard / Reserve, New, REUTERS, WASHINGTON, U.S, Biden, White, Antitrust, Big Tech, Reuters, Obama, Department of Justice, The Justice Department, Federal Trade Commission, Google, Facebook, Apple, FTC Locations: New Castle, New Castle , Delaware, U.S

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