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☆ Elizabeth Warren calls for emergency-like Fed rate cut ASAP
▼ + stars: | 2024-09-17 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —The American economy appears to be just hours away from a major milestone: The first interest rate cut from the Federal Reserve since Covid. Yet there remains an unusual amount of drama over the magnitude of that rate cut, with some in Washington calling for a supersized move. Massachusetts Democratic Sen. Elizabeth Warren wants the Fed to slash interest rates at a pace rarely seen outside of a full-blown crisis. “It is clearly the time for the Fed to cut rates. For instance, in early 2008 the Fed slashed interest rates by three-quarters of a point or more on three occasions.

Persons: Massachusetts Democratic Sen, Elizabeth Warren, Jerome Powell, Warren, “, ” Warren, Sheldon Whitehouse, John Hickenlooper, Powell, Bill Dudley, “ dawdling, Dudley, ” Dudley, panicking, David Kelly, ” Kelly, ” Organizations: New, New York CNN, Federal Reserve, Massachusetts Democratic, Sens, Wall, Fed, Federal Reserve Bank of New, CNN, Democrats, Asset Management Locations: New York, Washington, Massachusetts, Federal Reserve Bank of New York

☆ I left my husband and 2 kids behind for a trip to Greece with my middle son. It gave us proper bonding time.
▼ + stars: | 2024-09-17 | by ( Wendy Altschuler | ) www.businessinsider.com time to read: +6 min

My husband and I rarely catch up with our own parentsWe see my husband's family about twice a month, as they live nearby. When my kids were small, we took road trips from Chicago to Montana, a 1,400-mile drive that would take 21 hours. The author's trip with her son began in Rafina, a port city near Athens. Wendy AltschulerA one-on-one vacation with my middle childIn June, I took my middle son to Greece on an adventure for just the two of us. I do this with each of my sons, but this time, it was my middle son's turn.

Persons: I'm, Long, we'd, they've, we're, Wendy Altschuler, Nikolas, beryl, I've Organizations: Service, Business, Fira Port Locations: Chicago, Montana, Rafina, Athens, Greece, Paros, Naxos, Santorini, Fira, Oia

☆ It may already be too late for the Fed to stop a recession, former central bank president says
▼ + stars: | 2024-07-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

"Although it might already be too late to fend off a recession by cutting rates, dawdling now unnecessarily increases the risk," the former New York Federal Reserve President said. But to Dudley, even this is too late, and central bankers would do better to pivot rates at next week's policy meeting. AdvertisementAccording to Dudley, this slowdown points to fewer jobs down the road, and an uptick in unemployment could set off a near-certain recession indicator: the Sahm Rule. Despite this, Dudley suggested that the Fed might not be as concerned about breaching the Sahm Rule as it should be. According to Dudley, there are two other reasons the Fed may be waiting for September to cut rates.

Persons: —, Bill Dudley, dawdling, Dudley, Jerome Powell, Claudia Sahm, I'm Organizations: Service, Bloomberg, New York Federal, Business, Fed Locations: Dudley

☆ S&P 500 returns 15% in the first half in an unusually smooth ride
▼ + stars: | 2024-06-29 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

A 15% year-to-date total return in the S & P 500 is the 21 st best run through June since 1900, according to Goldman Sachs. The S & P 500 since the October 2023 correction low is up 33% for an annualized total return pace of 56%. The S & P has gone eight sessions without a move of as much as half a percent. True in magnitude: The market-cap-weighted S & P 500 has outgained its equal-weighted version by more than ten percentage points this year. Not only haven't up days been broadly inclusive, the direction of the S & P 500 has been running inverse to the daily breadth over the past month.

Persons: Goldman Sachs, Sharpe, it's, we'd, I've, What's, Jeff deGraaf, Trump, We've, Poor's, what's Organizations: Nvidia, Walgreens, Nike, Apple, Technology, Communication Services Locations: hiccups

☆ Farewell, and Thanks, to a Man Who Kept Kids Safe
▼ + stars: | 2024-04-16 | by ( Joe Sexton | ) www.nytimes.com time to read: +1 min

From the corner of West 25th Street in Manhattan, it takes 34 steps to cross 10th Avenue, more if it is a kindergartner dawdling, sippy cup in hand, to the private school on the other side. To get to Avenues of the World School by crossing West 25th Street takes only 16 steps, even fewer if it is a frantic 12th grader bounding to be on time for first period. “My man, Wilder,” he would call out to a 4-year-old boy. “Spider-Man,” he’d chuckle at the preschooler clutching for dear life a figurine of his favorite superhero. “Miss Seattle,” he’d address a third-grade girl, a new student from the West Coast who loyally wore a Seahawks cap every day.

Persons: Richard Henderson, Wilder, ”, “, chuckle Organizations: World, West, Miss, West Coast, Seahawks Locations: West, Manhattan, Miss Seattle

☆ Britain solves half of its wind power problem
▼ + stars: | 2023-11-16 | by ( George Hay | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Boyers Acquire Licensing RightsLONDON, Nov 16 (Reuters Breakingviews) - Maybe UK wind isn’t a busted flush after all. Britain needs 50 gigawatts (GW) of offshore wind by 2030, against 14 GW completed now and around 13 GW in development. It will also increase by 52% for floating offshore wind projects, from 116 pounds per MWh to 176 pounds per MWh. In AR6, offshore wind will also be given a separate funding pot in recognition of the high number of projects ready to participate. The UK aims to deliver 50 gigawatts (GW) of offshore wind by 2030, including up to 5 GW of floating offshore wind.

Persons: Andrew Boyers, Sweden’s Vattenfall, Jefferies, Denmark’s, LCPDelta, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, Jefferies, Grantham Research, Thomson Locations: Watchfield, Swindon, Britain, British

☆ UK net-zero ‘pragmatism’ is an odd way to get real
▼ + stars: | 2023-08-04 | by ( George Hay | ) www.reuters.com time to read: +7 min

Yet official UK figures do not suggest the way to get real on climate change is to go any slower. Sunak himself has defended Britain’s record on climate and says he cares about reaching its 2050 net-zero target. As such the net cost of net zero may be more like 344 billion pounds over three decades, or perhaps only 0.4% of GDP per year. Policy certainty will meanwhile encourage foreign investors to help pay for Britain’s transition, reducing its exposure to gas price shocks. UK energy secretary Grant Shapps said on Aug. 2 that the government remained “absolutely committed” to hitting its net-zero carbon targets by 2050.

Persons: Rishi Sunak, Sunak, dawdling, Andrew Forrest, ”, ” Sunak, Michael Gove, Grant Shapps, “, Neil Unmack, Streisand Neto, Oliver Taslic Organizations: Reuters, Sunak’s Conservative Party, Budget, Reuters Graphics Reuters, ’, McKinsey reckons, Britain, Conservatives, Thomson Locations: Britain, London, China, United States, North

☆ Trump shows in Iowa he still rules the GOP – despite his deepening criminal peril
▼ + stars: | 2023-07-29 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

“As it stands right now, you will be voting in Iowa, while multiple criminal cases are pending against former President Trump,” Hutchinson said. Donald Trump is not running for president to represent the people that voted for him in 2016 and 2020,” Hurd said to loud boos. “Donald Trump is running to stay out of prison,” he said as jeers started to crescendo. But if Trump is to be stopped, there is no sign so far that it will happen in Iowa. Unlike some of the other GOP candidates, Trump is not using the dinner to also hold multiple Iowa campaign stops.

Persons: Donald Trump, didn’t, quagmire, Trump, Dunn, ” Trump, Jack Smith, Biden, ”, –, Ron DeSantis, ” DeSantis, Mike Pence, White, ” Pence, I’m, Asa Hutchinson, ” Hutchinson, Will Hurd, “ Donald Trump, ” Hurd, jeers, Joe Biden, it’s, Sen, Barack Obama, Jackson, Scott Olson, DeSantis, South Carolina Sen, Tim Scott, Hawkeye, there’s, Donald J, “ I’m, ” Scott, “, Chris Christie Organizations: CNN, Republican, Brooks, Capitol, GOP, Florida Gov, ABC News, White House, Fox News, Trump . Former Arkansas Gov, Former Texas Rep, CIA, Trump, Democratic, Jefferson, White, Hawkeye State, Iowa, Getty, North, Fox, South, Democrats, New, New Jersey Gov Locations: Iowa, America, Florida, Manhattan, Iowa –, Mar, Erie , Pennsylvania, Des Moines, Hawkeye, North America, South Carolina, “ Hello Iowa, New Jersey, New Hampshire

☆ 3 of Warren Buffett's biggest investing mistakes—and what every investor can learn from them
▼ + stars: | 2023-03-02 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal," Buffett wrote. But in the spirit of humility, let's take a look at three of Buffett's worst decisions, and what investors can learn from them. "What I had assessed as a durable competitive advantage vanished within a few years," Buffett wrote in his 2007 letter to shareholders. Compounding the mistake, Buffett paid $443 million for the company in Berkshire stock rather than cash. "As a financial disaster, this one deserves a spot in the Guinness Book of World Records," Buffett wrote in his 2014 shareholder letter.

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