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Kirsten GrindKirsten Grind is an enterprise reporter for The Wall Street Journal, where she has worked since 2012. She focuses on technology companies and executives, covering issues ranging from sexual harassment allegations to data privacy issues. She is the co-author of the recently released book “Happy At Any Cost: The Revolutionary Vision and Fatal Quest of Zappos CEO Tony Hsieh,” from Simon & Schuster. Her first book, “The Lost Bank,” about the collapse of Washington Mutual, was named the best investigative book of 2012 by the Investigative Reporters & Editors association. She lives in the San Francisco Bay area.
Persons: Kirsten, Gerald Loeb, Tony Hsieh, , Simon, Simon & Schuster Organizations: Wall Street, Simon &, Lost Bank, , Washington Mutual, Investigative Locations: San Francisco Bay
REUTERS/Michael Swensen Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - United Auto Workers (UAW) members rallied against the Detroit Three automakers in multiple U.S. states on Thursday afternoon as Friday's deadline loomed for a threatened expansion of the union's strikes. The UAW last week launched unprecedented, simultaneous strikes at one assembly plant each of General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). UAW workers want to end a tiered wage structure that they say has created a large gap between newer and older employees, forcing some to work two jobs to make ends meet. On Thursday morning, Fain posted a video message on X, formerly known as Twitter, to UAW members about the Friday deadline, showing scenes from several Hollywood movies with the characters saying "tick tock." Fain has said Detroit automakers have not shared their huge profits with workers while enriching executives and investors.
Persons: Phaedra Grant, Michael Swensen, Ayanna Dixon, Shawn Fain, Fain, Ford, Stellantis, Joe Biden, Karine Jean, Pierre said, Ram, Morgan Stanley, Adam Jonas, Eikon, Mark Reuss, Reuss, Tesla, Bianca Flowers, Hyunjoo Jin, David Shepardson, Ben Klayman, Kannaki, Peter Henderson, Jamie Freed, Nick Zieminski, Matthew Lewis Organizations: Ford, UAW, REUTERS, Rights, United Auto Workers, Detroit Three, General Motors, Chrysler, Reuters, GM, GM's, Silverado, Detroit, Detroit Free Press, Toyota, Tacoma, EV, Thomson Locations: Louisville , Kentucky, U.S, Chicago, San Francisco, Louisville, Washington, Detroit, Bengaluru
U.S. District Judge Matthew Kacsmaryk in Amarillo, Texas, declined to block the rule, which took effect Jan. 30. The judge granted a petition by President Joe Biden's administration to dismiss the Republican-led states' lawsuit claiming the rule will jeopardize millions of Americans' retirement savings. Kacsmaryk in a 14-page opinion rejected the states' claim that the rule violates the federal law governing retirement plans. The rule still requires that financial considerations come first, and does not create "an overarching regulatory bias in favor of ESG strategies," the judge wrote. Kacsmaryk, a Trump appointee, in March rejected the Biden administration's claim that the states were improperly "judge shopping" by filing the lawsuit in Amarillo, where Kacsmaryk is the only judge.
Persons: Joe Biden, Kevin Lamarque, Matthew Kacsmaryk, Joe Biden's, Biden, Donald Trump's, Trump, Daniel Wiessner, Dan Whitcomb, David Gregorio, Lincoln Organizations: Major Economies, White, REUTERS, Companies Liberty Energy, Biden, U.S, District, Republican, U.S . Department of Justice, Liberty Energy Inc, Democrat, Trump, Thomson Locations: Energy, Washington , U.S, Texas, Amarillo , Texas, Utah, New Orleans, Amarillo
LOS ANGELES (AP) — Public support for striking Hollywood actors and writers is broad, but not necessarily deep enough for most people to change their viewing habits, a new poll finds. Half of Americans (50%) approve of writers and actors striking, while 40% are neutral on the topic, and 9% disapprove. About six in 10 Americans have heard “a lot” or “some” about the labor strikes of writers and actors against Hollywood studios. Overall sympathy toward the writers and actors runs much more strongly among Democrats (70%), than Independents (47%) and Republicans (39%). Alternatively, only 10% say it would be good for studios to use AI to help write movies and TV shows.
Persons: , , James Denton, ___, ___ Sanders Organizations: ANGELES, , Associated Press, NORC, for Public Affairs Research, Hollywood, Republicans, Guild of America, American Federation of Radio, Television Artists Locations: James Denton of Louisville , Kentucky, Denton, U.S, Washington ,
The video posted on the X platform, formerly known as Twitter, caught the attention of Jonathan Riley, a liberal activist in Durham, North Carolina, who posted Sunday that it showed “Missouri Republicans at a literal book burning," though he'd later walk that statement back to a “metaphorical” book burning. “It fit a narrative that they wanted to put out there,” Freedom Fest organizer Debbie McFarland said about claims that Eigel burned books. Experts who study political extremism said images involving fire or bonfires have long been associated with extremist groups. Eigel’s critics quickly posted online images involving the Ku Klux Klan and Nazi book burnings before World War II. Talking about book burning enough can plant the idea in people's minds so that ”people think it’s actually a righteous thing to do."
Persons: Louis, Sen, Bill Eigel, ” Eigel, Eigel, , Kurt Braddock, Jonathan Riley, he'd, Debbie McFarland, Mike Parson, State Jay Ashcroft, Mike Kehoe, Ashcroft, Gregg Keller, Eigel’s, , Eric Greitens, Flamethowers, Donald Trump, Kristi Noem’s, Evan Perkoski, it's, ” “, Javed Ali, Braddock, ” Eigel's, Ali, he’s, ___ Hanna, ___, John Hanna Organizations: JEFFERSON CITY, Missouri, Associated Press, , American University, Republicans, Twitter, Missouri Republicans, Gov, State, AP, GOP, Ku, Navy, Senate, Name, torching, Ku Klux Klan, University of Connecticut, University of Michigan Locations: Mo, St, Missouri, Washington, Defiance , Missouri, Durham , North Carolina, Jefferson City, U.S, Arizona, Alabama, South Dakota, Topeka , Kansas
“Russia’s thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict – by accident, intention, or miscalculation – is a terrible risk. New Construction at Russia's Novaya Zemlya nuclear test site, June 22, 2023. Lop Nur nuclear test site. “The Chinese test site is different than the Russian test site,” Lewis said. Both countries keep their strategic nuclear arsenals on “hair-trigger” alert, meaning that nuclear weapons can be launched on short notice.
Persons: Jeffrey Lewis, James Martin, , Cedric Leighton, , Vladimir Putin, ” Lewis, Lewis ’, António Guterres, ” Guterres, Dmitry Medvedev, Putin, Alexander Lukashenko, Sergei Shoigu, Lewis, we’ve, Leighton, they’d, ” Leighton, Nur, Hans Kristensen, Kristensen, Israel –, Dyess, Frederic J . Brown, Fiona Cunningham, Yang Kun, ” Daryl Kimball, Kimball, Michael Frankel, James Scouras, George Ullrich, Soviet Union –, Russia –, We’re Organizations: CNN, James, James Martin Center, Nonproliferation Studies, Middlebury Institute of International Studies, US, US Air Force, Atomic Scientists, Soviet Union, United Nations, Russia’s Security, Russian Defense Ministry, Planet Labs PBC, Middlebury, Science and Global Security, Novaya, Middlebury Institute, China Observer, China’s Foreign Ministry, Planet Labs, Nevada National Security, National Security Administration, US Department of Energy, Office, National Security Council, International Monitoring, Federation of American Scientists, Stockholm International Peace Research Institute, Missile Defense, Center for Strategic, International Studies, Columbia, Northrop Grumman's Air Force, Getty, Control Association, ACA, NGO, PLA, Nuclear, Carnegie Endowment, International, Arms Control Association, Johns Hopkins Applied Physics Laboratory, Soviet Locations: Russia, United States, China, Xinjiang, Nevada, . China, Moscow, Washington, Ukraine, Soviet, Belarus, Minsk, Novaya Zemlya, Zemlya, Soviet Union, Lop Nur, Japan, Lop, Beijing, Stockholm, United Kingdom, France, India, Pakistan, North Korea, Israel, Ellsworth, Palmdale , California, AFP, Yuli County, Mongol Autonomous Prefecture, Xinjiang Uygur Autonomous Region, Baltimore, Russian, Hiroshima
North Korean leader Kim Jong Un is greeted by Russian attends a welcoming ceremony upon his arrival at a railway station in the town of Artyom outside Vladivostok in the Primorsky region, Russia, September 16, 2023. Government of Russia's Primorsky Krai/Handout via REUTERS/File Photo Acquire Licensing RightsSEOUL, Sept 22 (Reuters) - North Korean leader Kim Jong Un discussed follow-up measures to his recent visit to Russia during the first formal meeting of the ruling Workers' Party's powerful politburo since his return, state media KCNA said on Friday. Kim returned home from a weeklong trip to Russia last week in which he and Russian President Vladimir Putin agreed to boost military and economic cooperation. On Wednesday, Kim briefed the party central committee's powerful politburo on his visit, and participants explored ways to "practically and comprehensively" implement its results and "constructive," long-term measures for developing relations with Russia, KCNA said. Seoul and Washington have expressed concern that Russia could be trying to acquire ammunition from North Korea to supplement its thinning stockpiles amid its war in Ukraine, while Pyongyang seeks technological help for its nuclear and missile programs.
Persons: Kim Jong Un, Kim Jong, KCNA, Kim, Vladimir Putin, Yoon Suk Yeol, Hyonhee Shin, Gerry Doyle Organizations: REUTERS, Rights, South, General, Thomson Locations: Russian, Artyom, Vladivostok, Primorsky, Russia, Russia's Primorsky Krai, Rights SEOUL, Seoul, Washington, North Korea, Ukraine, Pyongyang
At least 22 states have now enacted laws restricting or banning gender-affirming medical care for transgender minors. “His depression, his anxiety had pretty much dissipated because he was receiving the gender-affirming care,” Thurow said. In North Dakota, the law allows treatment to continue for minors who were receiving care before the law took effect in April. Providers there have simply stopped gender-affirming care, said Brittany Stewart, a lawyer at Gender Justice, which is suing over the ban in the state. But there's one key difference: gender-affirming care is ongoing.
Persons: , Becky Hormuth, Louis Children’s, Hormuth, , James Thurow, Louis, ” Thurow, “ He’s, Sen, Mike Moon, Justin Brown, Dale Wright, Brittany Stewart, they’ve, ” Stewart, Jasmine Beach, it's, she's, “ It’s, Devon Dolney, ___ Mulvihill, Jack Dura Organizations: LOUIS, , Republican, Washington University Gender, St, Louis Children’s Hospital, Washington University, University of Missouri Health Care, Gender Justice, Campaign, Southern Equality, Tate, Associated Press Locations: Missouri, North Dakota, U.S, North Carolina, Utah, St, Ferrara, Fargo , North Dakota, Minnesota, Chicago, Cherry Hill , New Jersey, Bismarck , North Dakota
Restaurant tipping rates in the US have dipped below 20%, per an industry report by Toast. According to Toast's report, the average restaurant tips servers received across all 50 states was 18.9% for the second quarter of 2023. Toast's report ranked the average restaurant tips for all 50 states. AdvertisementAdvertisementIn contrast, average tipping rates were the lowest in California, at 17.4%, per Toast's report. Toast said that tipping rates for full-service restaurants dropped to 19.4% in the second quarter, down from 19.7% in the first quarter.
Persons: Toast, Tim Urban, Bankrate Organizations: Service, US, US Department of Agriculture, Wall Street Journal Locations: Toast . Delaware, Washington, California, Wall, Silicon, Delaware, Indiana, Kentucky, Nevada, Florida, . Delaware, New York City
MLB roundup: Dodgers drop Giants, close in on NLDS
  + stars: | 2023-09-22 | by ( )   time to read: +12 min
Martinez hit his 30th home run as the Dodgers won for the sixth time in their last seven games. Joc Pederson hit a home run against his former team for the Giants, whose playoff chances took a major blow with a sixth loss in seven games. Rays 5, Angels 4Manuel Margot delivered a game-ending two-out RBI single to right field in the ninth inning as Tampa Bay rallied to defeat Los Angeles at St. Petersburg, Fla. Martinez hit his 30th home run as the Dodgers won for the sixth time in their last seven games. Chicago's Kyle Hendricks (6-8) allowed three runs (one earned) and seven hits in six innings.
Persons: Emmet Sheehan, Gary A, Vasquez, J.D, Martinez, Shelby Miller, Joc Pederson, Kyle Harrison, John Brebbia, Gerrit Cole, Cole, Jake Bauers, Toronto's Jose Berrios, Aaron Judge, Estevan Florial, Tarik Skubal, Andy Ibanez, Matt Vierling, Spencer Torkelson, Brenan Hanifee, Brent Rooker's, Manuel Margot, Carlos Estevez, Isaac Paredes, Jo Adell, Jared Walsh, Randal Grichuk, Michael Stefanic, Wade Miley, J.B, Bukauskas, Julio Teheran, Louis, Miley, Victor Caratini, Blake Perkins, Miles Mikolas, Nick Castellanos, Alec Bohm, Bryce Harper, Mark Vientos, Jeff McNeil, Ramon Laureano, Jose Ramirez, Bo Naylor, Josh Naylor, Gabriel Arias, Ryan O'Hearn, Anthony Santander, Matt Olson, Ozzie Albies, Max Fried, Albies, Orlando Arcia, Austin Riley, Michael Harris, Alex Call's, Joshua Palacios, Johan Oviedo grinded, Dansby Swanson, Chicago's Kyle Hendricks Organizations: Los Angeles Dodgers, San Francisco Giants, Dodger, Dodgers, National League, Giants, Yankees, Blue Jays, New York, Toronto, Minnesota Twins, Tigers, Athletics, Detroit, Rays, Angels, Tampa Bay, Brewers, Cardinals, Milwaukee, National League Central, Phillies, Mets, Orioles, Baltimore, Guardians, Braves, Nationals, Washington, NL East, Pirates, Cubs, Pittsburgh, Chicago, Thomson Locations: Los Angeles , California, USA, Francisco, Texas, Seattle, Oakland, Los, St . Petersburg, Fla, Angeles, Philadelphia, New York, Cleveland, Oviedo
The elements of Gallium and Germanium are seen on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 22 (Reuters) - U.S. semiconductor wafer maker AXT Inc (AXTI.O) said its Chinese subsidiary Beijing Tongmei had received initial export permits for shipping gallium arsenide and germanium substrates - compounds key to chipmaking - to certain customers. China's Ministry of Commerce said on Thursday that some Chinese companies had obtained export licences for gallium and germanium products, with more still being reviewed. This came after China's exports of germanium and gallium items plunged in August, the first month of the export controls,customs data showed on Wednesday. There were also no exports of wrought gallium products in August, compared to 5.15 tons in July and 7.67 tons in August in 2022, the data showed.
Persons: Florence Lo, Beijing Tongmei, Tongmei, Amy Lv, Dominique Patton, Tom Hogue, Stephen Coates Organizations: REUTERS, Rights, AXT Inc, Beijing, China's Ministry of Commerce, China, Thomson Locations: Rights BEIJING, . California, China, Beijing, United States, Washington
Ukraine President Volodymyr Zelenskiy listens during an event to thank Americans for their support of Ukraine in the war with Russia, at the National Archives in Washington, U.S., September 21, 2023. REUTERS/Evelyn Hockstein/file photo Acquire Licensing RightsOTTAWA, Sept 22 (Reuters) - Ukrainian President Volodymyr Zelenskiy on Friday makes his first visit to close ally Canada, where he is guaranteed a warmer welcome than he received from some U.S. politicians skeptical about providing more military aid. Zelenskiy is due to address parliament in Ottawa and then hold a news conference with Trudeau. "If friends of Ukraine want Ukraine to win the war, then the only way that happens is with renewed and more military support." There are 1.4 million people of Ukrainian descent in Canada, the third most after Ukraine and Russia.
Persons: Volodymyr Zelenskiy, Evelyn Hockstein, Kyiv's, Justin Trudeau, Zelenskiy, Trudeau, Ihor Michalchyshyn, David Perry, David Ljunggren, Deepa Babington Organizations: National Archives, REUTERS, Rights, Ukrainian Canadian Congress, NATO, Canadian, Ottawa, Canadian Global Affairs Institute, Thomson Locations: Ukraine, Russia, Washington , U.S, Canada, New York, Ottawa, In Washington, United States, Germany
WASHINGTON (AP) — President Joe Biden’s education chief said he’s open to using “whatever levers” are available — including federal money — to discourage colleges from giving admissions preference to the children of alumni and donors. He made the remark when asked about using federal money as a carrot or rod on legacy admissions. By banning affirmative action but allowing legacy preferences, critics say the court left admissions even more lopsided against students of color. Political Cartoons View All 1173 ImagesThe agency recently opened an investigation at Harvard University after a federal complaint alleged that legacy admissions amount to racial discrimination. Without action, Cardona warned that the nation could face the same setbacks seen in California after it ended affirmative action in 1996.
Persons: Joe Biden’s, he’s, , Miguel Cardona, Cardona, , ” Cardona, there’s, , James Murphy, they’ve, — Cardona, Ron DeSantis, can’t, ” — Cardona Organizations: WASHINGTON, Associated Press, Education, The, Department, Harvard University, Central Connecticut State University, Democratic, China, Education Department, Reform, Republican Gov, ” Conservatives, Carnegie Corporation of New, AP Locations: California, Black, Florida, Carnegie Corporation of New York
U.S. President Joe Biden and Indian Prime Minister Narendra Modi attend Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. The White House did not immediately respond to a request for comment on the FT report. The summit was held in India days before Prime Minister Justin Trudeau made his allegations public in an address to the Canadian parliament earlier this week. The leaders intervened at the G20 summit after Canada urged its allies to raise the case directly with Modi, the newspaper reported. Reporting by Kanishka Singh and Akanksha Khushi; editing by Sandra Maler and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Narendra Modi, Evelyn Hockstein, New Zealand —, Hardeep Singh Nijjar, Modi, Justin Trudeau, Jake Sullivan, Kanishka Singh, Akanksha, Sandra Maler, Leslie Adler Organizations: Indian, Partnership, Global Infrastructure, REUTERS, Financial Times, Thomson Locations: New Delhi, India, Canada, Australia, New Zealand, British Columbia, Washington, Ottawa, China, Asia Pacific
Loan approval: Why has it gotten so much harder?
  + stars: | 2023-09-22 | by ( Samantha Delouya | )   time to read: +8 min
Magnusson said that while she used USAA for a personal loan in the past, this time, the process felt very different. Lately, it may take more than just a good credit score for many people to get approved for a loan. Deutsche Bank recently told investors that bank lending conditions look “consistent with recession levels,” even though the US is not currently in a recession. Magnusson said she was “in tears” after spending hours on the phone with USAA to secure the loan over multiple days. McBride said that although loan application rejections are up and standards are tougher, getting a loan is still possible for those with good credit.
Persons: Cheryl Magnusson, Magnusson, , USAA, , Greg McBride, , ” McBride, Nathan Howard, McBride, William Brown, Brown, we’ve, ” Brown, “ I’ve, I’ve, Darlene Johnson, ” Johnson, Scott Olson Organizations: CNN, Federal Reserve Bank of New, Consumer, Deutsche Bank, Eccles Federal Reserve, Bloomberg, Getty, Silicon Valley Bank, Signature Bank, Navy, Suncoast Credit Union, Suncoast, Mortgage Bankers Association, Federal Reserve Locations: Arizona, Washington , DC, Silicon, Florida, Hawthorn Woods , Illinois
"But in the absence of that sorely-needed action, the Office of Gun Violence Prevention along with the rest of my Administration will continue to do everything it can to combat the epidemic of gun violence that is tearing our families, our communities, and our country apart,” he said. Democrats largely favor stricter gun laws as a way to reduce deaths from gun violence at schools and in cities across the country. Establishing a new office of gun violence prevention has long been on the wish list of anti-violence advocacy groups that were happy with Biden's record pushing for reforms but wanted the White House do more. White House adviser Stefanie Feldman, Biden's staff secretary, will serve as the director of the office, and gun safety advocates Greg Jackson and Rob Wilcox will join the White House as deputies. “We are so pleased that the Biden administration has officially created an Office of Gun Violence Prevention," said Kris Brown, president of Brady, an advocacy group.
Persons: Cheney Orr, Joe Biden, Kamala Harris, “ I’ll, Biden, , Harris, Stefanie Feldman, Greg Jackson, Rob Wilcox, Feldman, Kris Brown, Brady, Jeff Mason, Dan Whitcomb, Leslie Adler, Deepa Babington Organizations: Chamber, Covenant School, Tennessee State Capitol, REUTERS, Rights, Republicans, National Rifle Association, Democrats, Safer Communities, White, Gun, FEMA, Federal Emergency Management Agency, Thomson Locations: Nashville , Tennessee, U.S
China's AI 'war of a hundred models' heads for a shakeout
  + stars: | 2023-09-21 | by ( Josh Ye | )   time to read: +5 min
Additionally, companies have also announced dozens of "industry-specific LLMs" that link to their core model. However, investors and analysts say that most were yet to find viable business models, were too similar to each other and were now grappling with surging costs. Several other big name entrepreneurs and tech executives are behind new Chinese AI startups, such as Google China's former chief Kai-Fu Lee and Yan Juejie, a former vice-president of SenseTime (0020.HK). Others said that China's largest tech companies Alibaba, Tencent and Baidu ultimately had the biggest headstart and deep pockets to succeed, given their large user bases and wide range of services. For instance, they could easily offer generative AI services as an additional plug-in to their cloud users.
Persons: Baidu's, Robin Li, Ernie Bot, Tingshu Wang, OpenAI's, Esme Pau, Pau, Yuan Hongwei, Meta, Baichuan, Wang Xiaochuan, China's, Wang, Yuan, Kai, Fu Lee, Yan Juejie, SenseTime, Tony Tung, Tung, Josh Ye, Brenda Goh, Sam Holmes Organizations: Baidu, REUTERS, HK, Huawei, Nvidia, China, Macquarie Group, Y, Baichuan Intelligence, Inc, Sogou, Google, Partners, Thomson Locations: Beijing, China, HONG KONG, Alibaba, United States, Washington, Shenzhen
Nancy Keates — Reporter at The Wall Street Journal
  + stars: | 2023-09-21 | by ( Nancy Keates | )   time to read: 1 min
Nancy KeatesNancy Keates is a reporter covering real estate, architecture and design for The Wall Street Journal. She has also covered travel, art, education and family issues. Before joining the Journal, she was Johannesburg correspondent and bureau chief for AP–Dow Jones, the international arm of the Dow Jones newswires. She then moved to Washington and subsequently covered international trade and finance. Nancy graduated from Cornell University and has an M.B.A degree from George Washington University.
Persons: Nancy Keates Nancy Keates, AP – Dow Jones, Dow Jones, Nancy Organizations: Wall Street, AP –, Cornell University, George Washington University Locations: Johannesburg, Washington
[1/2] U.S. House Speaker Kevin McCarthy speaks with reporters at the U.S. Capitol in Washington, U.S. September 20, 2023. The House of Representatives voted 216-212 against beginning debate on an $886 billion defense appropriations bill amid opposition from a small group of hardline conservative Republicans. As the vote failed, McCarthy told reporters that he will pursue the "same strategy I had from January: just keep working; never give up." Then a vote to open floor debate on the defense appropriations bill failed. It was not clear how much support the CR or the 2024 top line would draw from House Republicans.
Persons: Kevin McCarthy, Jonathan Ernst, Kevin McCarthy's, McCarthy, Joe Biden, Chuck Schumer, Keith Self, Donald Trump, Joe, brinkmanship, Fitch, Rosa DeLauro, Biden, David Morgan, Richard Cowan, Makini Brice, Scott Malone, Leslie Adler, Mark Porter, Timothy Gardner Organizations: ., U.S, Capitol, REUTERS, Rights, Republicans, Democratic, Senate, Republican, Self, TRUMP, Government, Trump, AAA, House Republicans, Thomson Locations: Washington , U.S
Global central banks unite in "higher for longer" credo
  + stars: | 2023-09-21 | by ( Mark John | )   time to read: +6 min
The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Tapei. U.S. Federal Reserve policymakers had a similar message on Wednesday. Turkey's central bank confirmed its hawkish turn while in Asia, Taiwan's central bank flagged continued tight policy. Reuters Graphics"TIPPING POINT"Belgian central bank chief and ECB board member Pierre Wunsch - an early voice urging tougher central bank action to counter inflation from end-2021 - said on Thursday that monetary policy was now at the right level. That said, the prospect that global interest rates are pretty close to peak will be of huge relief to emerging economies suffering from heavy debt servicing loads.
Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann, BoE, Andrew Bailey, Pierre Wunsch, Wunsch, COVID lockdowns, Jerome, Powell, Krishna Guha, Howard Schneider, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, U.S . Federal Reserve, Bank of England, U.S . Federal, Swiss National Bank, South African Reserve Bank, People's Bank of, Reuters, ECB, Reuters Global Markets, Economics, Sterling, Swiss, United, Thomson Locations: Jackson Hole , Wyoming, U.S, Central, Oslo, Tapei, Europe, Norway, Sweden, Asia, People's Bank of China, Belgian, United States, Ukraine, Washington, Frankfurt, London, Stockholm, Zurich, Ankara
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Persons: Dow Jones Organizations: gop, washington Locations: ukraine
Katy Stech FerekKaty Stech Ferek covers Congress for The Wall Street Journal's bureau in Washington, D.C. Her previous beats focused on the intersection of business and policy, including on issues related to climate and the environment, the overlap of national security and international trade and financial hardship. Prior to that, she covered corporate and personal bankruptcy. A Syracuse grad, she has worked for newspapers in Charleston, S.C., Rochester, N.Y., and her hometown of Duluth, Minn.
Persons: Katy, Ferek Organizations: The, Syracuse grad Locations: Washington ,, Charleston, S.C, Rochester, N.Y, Duluth, Minn
REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Sept 21 (Reuters) - U.S. House Speaker Kevin McCarthy will try to restart his stalled Republican spending agenda on Thursday, with a procedural vote on a fiscal 2024 defense appropriations bill that Republicans have already twice failed to advance. Then a vote to open floor debate on the defense appropriations bill failed. The defense bill had already been delayed earlier in the month. McCarthy's proposal would also set a top line for full-year fiscal 2024 spending at just under $1.53 trillion, the sources said. It was not clear how much support the CR or the 2024 top line would draw from House Republicans.
Persons: Kevin McCarthy, Jonathan Ernst, McCarthy, we've, " McCarthy, Joe Biden, Biden, Tuesday McCarthy, David Morgan, Leslie Adler Organizations: ., U.S, Capitol, REUTERS, Rights, Republicans, Democratic, Democrats, Republican, House Republicans, Thomson Locations: Washington , U.S
Goldman Sachs pushes its forecast for Fed rate cut to Q4 2024
  + stars: | 2023-09-21 | by ( )   time to read: +1 min
"Today, participants appeared to move away from the view that monetary policy tightening could weigh on growth with a long lag next year, which weakens one argument for cutting," Goldman Sachs economists led by Jan Hatzius said in a note. "We think this means that inflation will have to fall further than we previously assumed for the FOMC to cut." Morgan Stanley, meanwhile, still expects the first rate cut to be delivered in March next year. The central bank's quarterly projections showed the rate may still be lifted one more time this year to a peak 5.50%-5.75% range. While Goldman and Morgan Stanley do not expect another rate hike this year, Barclays, BofA and Citigroup see the Fed delivering another 25 basis points raise in the November meeting.
Persons: Jason Reed, Goldman Sachs, Jan Hatzius, Morgan Stanley, Goldman, Susan Mathew, Nivedita Organizations: U.S . Federal, REUTERS, U.S . Federal Reserve, Fed, Wednesday, Barclays, BofA, Citigroup, Thomson Locations: Washington, Bengaluru
For months, far-right House Republicans have been demanding deeper cuts in federal spending than agreed to in bipartisan legislation this summer. The 64 members of the House's "Problem Solvers Caucus" -- 32 Democrats and 32 Republicans -- issued a statement saying the group had voted to endorse a temporary funding measure that would run through Jan. 11, 2024. "The Problem Solvers’ proposal keeps the government open, addresses our nation’s longer-term fiscal health and includes fiscally responsible measures," said Democratic Representative Josh Gottheimer, a co-chair of the bipartisan caucus. Funding would be set at the $1.59 trillion level approved earlier this year by the president and House Speaker Kevin McCarthy. The Problem Solvers Caucus plan also calls for new border security controls that would be operational through the end of next year.
Persons: Joe Biden, Josh Gottheimer, Biden, Kevin McCarthy, McCarthy, Richard Cowan, Michael Perry Organizations: U.S . House, Wednesday, Republicans, Ukraine, Thomson Locations: U.S, Russian
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