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☆ Passing at home, failing abroad: Grading Mike Johnson's first month as speaker
▼ + stars: | 2023-11-21 | by ( Madison Hall | ) www.businessinsider.com time to read: +9 min

In late October, House Republicans settled on a little-known congressman as their next leader. AdvertisementMike Johnson has been the speaker of the House for just under a month now following a testy race to succeed ousted former Speaker Kevin McCarthy. Johnson's so-called "laddered" approach has been heavily criticized by congressional Democrats, Republicans, and even the White House, who called it an "unserious proposal." AdvertisementSection 702: FailFBI Director Christopher Wray speaks during the daily press briefing at the White House, Thursday, Aug. 2, 2018, in Washington. AdvertisementWith just over a month left until the authorization expires, though, Johnson's been mum on the topic since becoming speaker.

Persons: Mike Johnson, Kevin McCarthy, —, Johnson, here's, Tom Brenner, McCarthy, Biden, Tom Emmer, Elise Stefanik, Steve Scalise, Alex Wong, Volodymyr Zelensky, Mitch McConnell, Chuck Schumer, Mandel Ngan, Michael McCaul, McCaul, Sandy Huffaker, Congress didn't, Christopher Wray, Evan Vucci, Jim Jordan, Johnson's, Patrick McHenry, Win McNamee, who's, he'd, McCarthy's Organizations: Republicans, Business, Service, The Washington, Getty, House Republican, Capitol, House Republicans, Internal Revenue Service, Democratic, White, Congress, Republican, Foreign Affairs Committee, American Farm Bureau Federation, Texas Farm Bureau, Foreign Intelligence, Associated Press, GOP Rep, FBI Locations: Israel, Gaza, Washington , DC, Ukraine, AFP, Mexico, Taiwan, California, Texas, Washington

☆ Finance Chiefs Take Measured Approach to Using Real-Time Payments
▼ + stars: | 2023-11-02 | by ( Kristin Broughton | ) www.wsj.com time to read: 1 min

The Federal Reserve rolled out its FedNow real-time payments system in July. Photo: win mcnamee/ReutersWith real-time payments, chief financial officers can pay their suppliers in seconds, but many CFOs are holding off on using them in the back office, waiting to see if the value ultimately outweighs the costs. The Federal Reserve in July rolled out FedNow, a real-time payments system that allows businesses and consumers to move money instantly. The launch aims to expand access to faster payments to more financial institutions and their customers. A similar payments system from the Clearing House, a payment network owned by large financial institutions, launched in 2017.

Persons: mcnamee Organizations: Federal Reserve, Clearing

After weeks of failed votes, the House selected Rep. Mike Johnson as speaker following the ouster of Rep. Kevin McCarthy. Photo: Win McNamee/Getty ImagesMike Johnson was in a Louisiana courtroom in June 2015 defending tighter abortion restrictions adopted by the state when phones flashed with alerts that the Supreme Court had just recognized a constitutional right to same-sex marriage. Johnson dashed out of the ongoing proceedings to publicly criticize the decision, said opposing counsel Ilene Jaroslaw, who was representing abortion providers in the case. It was a moment, she said, that underscored the depth of Johnson’s zeal for conservative legal causes.

Persons: Mike Johnson, Kevin McCarthy, Win McNamee, Johnson, Ilene Jaroslaw Locations: Louisiana

☆ Republicans are desperate for attention — and it's decimating their ability to govern
▼ + stars: | 2023-10-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +15 min

In the end, the only man who could unify House Republicans behind him was a relatively little-known and mild-mannered evangelical Christian from Louisiana. AdvertisementAdvertisementAs the speaker saga wore on, it provoked questions among some House Republicans: How could it be that they had failed to elect a speaker for so long? While Gaetz maintains otherwise, his angry GOP colleagues have plenty of evidence to make their case that it was an attention ploy. Rep. Matt Gaetz surrounded by reporters and cameras after the House voted to oust Kevin McCarthy from the speakership. The attention economy doesn't preclude an ability to govern — an effective politician might seek to harness their celebrity towards worthy ends.

Persons: Mike Johnson's, Matt Gaetz, Kevin McCarthy, Garrett Graves, Sen, Thom Tillis, Madison Cawthorn, Tillis, Drew Angerer, Greg Murphy of, Nancy Mace, McCarthy, Mace, I'm, Win McNamee, Josh Hawley, Ronald Reagan, Donald Trump's, Nicole Wallace, Obama, JD Vance, Ohio, Vance, Ted Cruz, Jose Luis Magana, denialism, Jim Jordan, Marjorie Taylor Greene, Brett Kavanaugh, Jen Psaki, Symone Sanders, it's, Rep, Alexandria Ocasio, Cortez, Kelly Armstrong, Adam Schiff, Chip Somodevilla, Bob Good, Virginia, Gaetz, —, Ken Buck, Colorado, Hawley deadpanned, Mike Lawler, I've, Cruz, Buck, Joe Biden, Liz Cheney Organizations: Republicans, GOP, North Carolina Republican, Getty, Twitter, South Carolina, Republican, Rep, Fox News, Republican Party, Conservative Political, Conference, AP, Cannon, South, Democratic, Supreme, Biden, MSNBC, Democrats, Capitol, New York Post, Colorado Locations: Louisiana, Florida, Greg Murphy of North Carolina, Missouri, Hollywood, California, South Carolina, Alexandria, Cortez of New York, Ukraine, New York, Ted Cruz of Texas

☆ Jamie Dimon is right: Economic forecasts have been wrong lately, but that's really nothing new
▼ + stars: | 2023-10-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Win Mcnamee | ReutersForecasters have been really wrong on the economy recently, but it's nothing new: They've always been wrong. — that the economic forecasts of the major Wall Street banks had been "100 percent dead wrong" in the last 18 months. It's true that Covid and the Russian invasion of Ukraine threw off forecasts, but that's beside the point: Wrong forecasts are the norm, not the exception. The Federal Reserve's own research staff studied the Federal Reserve's economic forecasts from 1997 to 2008 and found that the Fed's predictions for economic activity one year out were no better than average benchmark predictions. The Times story notes other factors that threw off recent economic forecasts: the Russian invasion of Ukraine: being too pessimistic on growth prospects, lack of good data on real-time consumer savings.

Persons: Win Mcnamee, Jamie Dimon, —, Dimon, He's, Torsten Slok, Russia hadn't, It's, Philip Tetlock, Covid Organizations: U.S . Federal, Washington , D.C, Reuters, JPMorgan Chase, Future Investment, New York Times, Apollo Global Management, Federal Reserve, New York Stock Exchange, Federal, University of Pennsylvania, Fed Locations: Washington ,, Riyadh, Saudi Arabia, Russia, Ukraine, U.S

☆ Live updates: House speaker candidate forum
▼ + stars: | 2023-10-23 | by ( Mike Hayes | ) edition.cnn.com time to read: +2 min

Rep. Kevin Hern leaves a House Republican caucus meeting at the Longworth House Office Building on October 13, 2023 in Washington, DC. “He just wanted to know what was going on in the race. “I think he's going to sit this one out.”Hern added: “So I think when you look at this now, he's gonna let this play out. Because the American people don't want to see another thing that happened like last week with Jim Jordan,” he said. We do not need to bog down Israel aid in that debate right now,” he said.

Persons: Kevin Hern, Win McNamee, Donald Trump, ” Hern, CNN’s Manu Raju, “, he's, Jim Jordan’s, I've, Jim Jordan, ”, Hern Organizations: Republican, Getty, Oklahoma Republican, GOP, Ukraine Locations: Longworth, Washington , DC, Ukraine

☆ Harvard has become the poster child for American culture wars in the 11 days since Hamas' terrorist attack on Israel. Here's what's happened.
▼ + stars: | 2023-10-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +15 min

Harvard University has become a flashpoint in the intergenerational divide on the Israel-Hamas war. AdvertisementAdvertisementIn the 11 days since Palestinian militant group Hamas launched its terrorist attack on Israel, Harvard University has become a flashpoint for intergenerational tensions about the war — and the broader culture war around campus free speech. Hamas launches terrorist attacks on IsraelPalestinian militant group Hamas launched a series of terrorist attacks on Israel on October 7, with Israel retaliating. AdvertisementAdvertisement"These hateful Harvard students are the future leaders of our society," Rep. Ritchie Torres of New York wrote on X. Some student groups backtrackSome student groups that co-signed the original statement have since withdrawn their signatures.

Persons: Israel, —, Israel retaliating, Bill Ross, Ian Bremmer, Bremmer, Larry Summers, Tom Williams, Summers, Seth Moulton of, Moulton, Republican Sen, Ted Cruz, Rep, Ritchie Torres, Harvard Hillel, Bill Ackman, @harvard, Meredith Weenick, Weenick, Idan Ofer, Batia, Les Wexner, Ackman, Joe McCarthy, Claudine Gay, Craig F, Walker, Gay, Harvard Crimson, Israel's, Joseph Prezioso, Elise Stefanik, Win McNamee, Marc Rowan, Jon Huntsman Jr, Elizabeth Magill, Davis Polk, Wardwell, Winston, Strawn Organizations: Harvard University, Service, Hamas, Harvard, Republicans, Israel Palestinian, UN, Gaza's Hamas, Harvard Palestine Solidarity Groups, Harvard Undergraduate Palestine Solidarity Committee, Inc, Getty, Republican, New York, Palestine, Alpha, CNBC, Harvard Crimson, Conservative, Media, Harvard University Police Department, Quantum, Group, Harvard's Kennedy School of Government, CNN, Wexner Foundation, Bloomberg, Boston Globe, Nepali Student Association, Harvard Undergraduate Palestine Solidarity, Harvard Yard, New York Republican, New, Apollo Global Management, University of Pennsylvania, Huntsman, University, Columbia University, New York University, NYU Student Bar Association Locations: Israel, Gaza, Seth Moulton of Massachusetts, Ted Cruz of Texas, Harvard's, Harvard, Cambridge , Massachusetts, AFP, New York, Utah, Columbia

☆ House speaker race injects chaos into high-dollar Republican fundraising
▼ + stars: | 2023-10-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Kevin Lamarque | ReutersThe messy race to elect the next Republican speaker of the House of Representatives is injecting chaos into the typically genteel world of high-dollar GOP fundraising, threatening to disrupt a vital element of the Republican strategy to maintain its House majority. One faction of wealthy donors is intent on exacting revenge on the eight Republicans who voted with Democrats to oust former speaker Kevin McCarthy, according to people familiar with the matter. They're all saying, 'don't give, don't raise any money,'" a Republican fundraiser said. "If you have scheduled a fundraiser for any Republican House member who refuses to vote for Scalise, cancel it. Losing Kevin McCarthy will be damaging for fundraising," a longtime Wall Street Republican fundraiser said.

Persons: Kevin McCarthy, Kevin Lamarque, Andy Sabin, Sabin, Matt Gaetz, McCarthy, Nancy Mace, Win Mcnamee, Steve Scalise, Scalise, Eric Levine, Saul Loeb, Eiseman Levine, Levine, Joanne Zervos, McCarthy's, Zervos Organizations: Capitol, Republicans, GOP, Republican, CNBC, U.S, Getty, Republican House, AFP, New, Wall Street Republican, U.S . Rep, U.S . House Locations: Washington , U.S, Florida, South Carolina, California, Washington , DC, Louisiana, New York

☆ Live updates: The House Speaker vacancy and what happens next
▼ + stars: | 2023-10-04 | by ( Aditi Sangal | Adrienne Vogt | ) edition.cnn.com time to read: +1 min

The Speaker's gavel rests on the podium in the House Chamber of the US Capitol after Rep. Kevin McCarthy was elected Speaker of the House in January. Win McNamee/Getty ImagesIt is still unclear exactly who is running for the top three Republican positions, according to multiple GOP sources. Hern and Jordan may opt to run for other positions, or could run for speaker. The GOP conference will nominate their candidate for speaker and pick their new leadership team sometime next week— which only requires a majority vote. Then the full House will vote for the new speaker.

Persons: Kevin McCarthy, Win McNamee, Steve Scalise, Kevin Hern, Jim Jordan, he’s, Jordan, Patrick McHenry, Tom Emmer, McHenry, It’s Organizations: Chamber, Capitol, GOP

☆ Here's what a government shutdown would mean for your wallet
▼ + stars: | 2023-09-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

During a shutdown, the federal government ceases operations that are deemed non-essential. Win Mcnamee | Getty Images News | Getty ImagesIt's poised to occur this year as hard-right conservatives in the Republican-controlled House are using a possible shutdown as leverage to force deep cuts in federal spending. watch nowMillions may also lose certain federal benefits, with that threat increasing with the length of a shutdown, experts said. Food assistance through the Supplemental Nutrition Assistance, or SNAP, program is "on better footing" than WICs, which would likely be affected within days of shutdown, Sprick said. Section 8 housing vouchers, which are for families with low incomes, seniors and people with disabilities, would also be at risk, Sprick said.

Persons: —, Kevin McCarthy, Win Mcnamee, Sprick, Mark Zandi, Zandi, Emerson Sprick Organizations: Bloomberg Creative, Bloomberg, Getty, Republican, Center, Congressional Research Service, Social Security, Congressional, Workers, Moody's, Contractors, Women, Assistance, SNAP, Loans, Small, Administration, U.S . Department of Education, Education, Center Service, Social Security Administration, Travelers, Transportation Security Administration, United Auto Workers Locations: U.S

☆ Putin says the US will be out to get Russia no matter who's elected president in 2024. Tell that to frontrunners like Trump.
▼ + stars: | 2023-09-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

Putin says the US will "perceive Russia as an existential enemy" regardless of who wins 2024. But top GOP candidates like Trump and DeSantis are skeptical about US involvement in Ukraine. But plenty of Republican primary candidates, including former President Donald Trump and Florida Gov. Ambassador Nikki Haley participate in the first GOP primary debate on August 23, 2023 in Milwaukee, Wisconsin. Win McNamee/Getty ImagesThe seeming lack of Republican support is mirrored by GOP primary nominee candidates as well, especially the party's clear frontrunner, Trump.

Persons: Putin, Vladimir Putin, Donald Trump, Ron DeSantis, Washington, Vladimir Putin's, Biden, Vivek Ramaswamy, Nikki Haley, Win McNamee, Trump, didn't, could've, DeSantis, Tucker Carlson, Mike Pence, Haley, Taiwan's, we'd Organizations: Trump, Service, Florida Gov, AP, White House, CBS, GOP, CNN, Fox News, European Council, Foreign Relations, Putin, NATO, Republican, ABC News, South Carolina Gov, Ukraine Locations: Russia, Ukraine, Wall, Silicon, Russian, Vladivostok, Milwaukee , Wisconsin, Chinese, Moscow, China, Poland, Baltics

☆ Hurricane Ron DeSantis
▼ + stars: | 2023-09-01 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: GOP candidates square off in first primary debate and clash over aid to Ukraine. Image: Win McNamee/Getty ImagesRon DeSantis spent Thursday visiting rural Florida counties hit by Hurricane Idalia, and during his morning news update the Governor was in command of the details. “As of 6 a.m. today,” he said, “there are approximately 146,000 power outages reported across the state,” but thousands of borrowed linemen were at work, and 420,000 accounts had already been restored.

Persons: Win McNamee, Ron DeSantis, Hurricane Idalia, ” Locations: Ukraine, Florida

☆ Donald Trump, 2024 and the Reasoning Republican Voter
▼ + stars: | 2023-08-28 | by ( Allysia Finley | ) www.wsj.com time to read: 1 min

Journal Editorial Report: GOP candidates square off in first primary debate and clash over aid to Ukraine. Image: Win McNamee/Getty ImagesSay this much for Vivek Ramaswamy: He has an impressive aptitude for attracting attention. Last Monday he tweeted a video of himself shirtless and slugging tennis balls. (It wasn’t clear whether his shots landed in.) The caption: “Three hours of solid debate prep this morning.” His lack of actual debate prep showed in his amateurish performance Wednesday evening.

Persons: Win McNamee, Vivek Ramaswamy Locations: Ukraine

☆ Idalia is expected to rapidly intensify in the extremely warm Gulf of Mexico. Here’s what that means
▼ + stars: | 2023-08-28 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +17 min

Mike Lang/USA Today Network Workers and residents clear debris from a destroyed bar in Fort Myers on Saturday, October 1. Thomas Cordy/The Palm Beach Post/USA Today Network This aerial photo shows damaged homes and debris in Fort Myers Beach on Thursday. Wilfredo Lee/AP Jake Moses and Heather Jones explore a section of destroyed businesses in Fort Myers Beach, Florida, on Thursday. Alexandre Meneghini/Reuters Frederic and Mary Herodet board up their Gulf Bistro restaurant in St. Pete Beach, Florida, on Tuesday. Martha Asencio-Rhine/Tampa Bay Times via ZUMA Press Wire Sarah Peterson fills sandbags in Fort Myers Beach on September 24.

Persons: Ian —, Idalia, ” Brian McNoldy, Allison Wing, Florida State University . Hurricane Franklin, ”, Wing, ” McNoldy, Andrew Kruczkiewicz, Kruczkiewicz, Ricardo Arduengo, Joe Biden, Jill Biden, Hurricane, Evan Vucci, Greg Guidi, Thomas Bostic, Joe Raedle, Win McNamee, Stephanie Fopiano, Kenya Taylor, Mike Lang, Giorgio Viera, Jonathan Drake, Candy Miller, Ana Kapel, Amy Beth Bennett, Meg Kinnard, Shannon Stapleton, Steve Helber, Joe Burbank, Orlando Sentintel, Alex Brandon, Jim Watson, Eva Marie Uzcategui, Bob Levitt, Thomas Cordy, Wilfredo Lee, Jake Moses, Heather Jones, Douglas R, Clifford, Tom, Jonathan Strong, Kylie Dodd, Brenda Brennan, Sean Rayford, John Raoux, Stefanie Karas, ZUMA, Ian, Marco Bello, Ben Hendren, Pedro, Reuters Melvin Phillips, Crystal Vander, Bryan R, Smith, Hurricane Ian, Greg Lovett, Stephen M, Dowell, Zuram Rodriguez, Joe Cavaretta, Crews, Ramon Espinosa, Yamil Lage, Chris O'Meara, Maria Llonch, Willie J, Allen Jr, Alexandre Meneghini, Reuters Frederic, Mary Herodet, Pete, Adalberto Roque, Phelan M, Ryan Copenhaver, Siesta, Gregg Newton, Cathie Perkins, Martha Asencio, Sarah Peterson, Andrew West, ” Kruczkiewicz, McNoldy, you’re Organizations: CNN, National Hurricane Center, University of Miami, “, National Oceanic, Atmospheric Administration, Florida State University . Hurricane, Columbia Climate School, Columbia University, Getty, Fort Myers, Venice High, USA Today Network Workers, Reuters, South Florida Sun, AP, US Army National Guard, AP University of Central, Bloomberg, Texas, Force, USA, Tampa Bay Times, Zuma Workers, Orange County Government, An, AP Vehicles, NOAA, NASA, City, Naples Police, Anadolu Agency, Punta Gorda, El, El Nuevo Herald, TNS, Officials, Orlando Sentinel, AP Highways, Wednesday, Sentinel, AP People, Southwest, Tampa International Airport, Bistro, Vehicle, Kennedy Space Center, International, Costco, ZUMA Press, Hurricanes Locations: Gulf of Mexico, Florida, Matlacha , Florida, AFP, Fort Myers , Florida, Island , Florida, Fort, Fort Myers Beach, Kenya, North Port, Venice , Florida, Fort Myers, Myrtle Beach , South Carolina, South Florida, Quarterman, North Charleston , South Carolina, North Port , Florida, Sanibel, AP University of Central Florida, Orlando , Florida, Orlando, Charleston , South Carolina, New Smyrna Beach , Florida, Cape Coral , Florida, Palm Beach County , Florida, Fort Myers Beach , Florida, Naples , Florida, Orange County , Florida, Orange County, Punta Gorda , Florida, Punta Gorda, Port Charlotte , Florida, Captiva, Port Charlotte, Iona , Florida, Bonita Springs , Florida, An Orlando, Sanibel , Florida, Tampa , Florida, Punta, Tampa, Roberts, El Nuevo, Stuart , Florida, Tampa Bay, Delray Beach , Florida, The, Hurricane, Pembroke Pines , Florida, Davie , Florida, Havana, Cuba, Batabano, Pinar del Rio, St, Pete Beach , Florida, Cape Canaveral , Florida, Cuban, Fanguito, Sarasota , Florida, Havana Bay, Kissimmee, Pinellas County , Florida, Augusta , Georgia, Columbia, South Carolina

☆ PrEPVacc: HIV vaccine trial that could be ‘the last roll of the dice’ this decade is underway
▼ + stars: | 2023-08-28 | by ( Tom Page | Thomas Page | ) edition.cnn.com time to read: +24 min

CNN —A novel trial that has been described as “the last roll of the dice” for a generation of HIV vaccines has entered its latter stages. Nearly 40 years since HIV was identified as the cause of AIDS, and 36 years since the first HIV vaccine trial, the medical community still does not have a working vaccine. But that is not necessarily why they were chosen to participate, said Eugene Ruzagira, PrEPVacc trial director. Evaluating the combination of a trial HIV vaccine and PrEP is a first, say organizers. “I did my very first HIV vaccine trial in 1991,” recalled Weber.

Persons: PrEPVacc, ”, Jonathan Weber, Frank, Helena Herholdt, Eugene Ruzagira, Ruzagira, “, Weber, ” Ruzagira, “ We’ve, Mark Runnacles, Edward Jenner, Louis Pasteur, Galileo, Win McNamee, Humphry Davy, JEAN, SEBASTIEN EVRARD, Haydn West, Joe Raedle, ANNE, CHRISTINE POUJOULAT, Alexander Fleming, Fleming, wasn't, Louise Joy Brown, Sandy Huffaker, Daniel Acker, James Watson, Francis Crick, Rosalind Franklin, Watson, Crick, Raphael GAILLARDE, Sean Gallup, Wilhelm Conrad Röntgen, Thomas Edison's, INDRANIL MUKHERJEE, Descovy, Luwano Geofrey, Dr, Luke Dray, Geofrey, Nishanta Singh, Sharon Lewin, Lewin, “ it’s, it’s, ” Lewin, ” Geofrey Organizations: CNN, Imperial College Academic Health Science Centre, PrEPVacc, Medical Research, Uganda Virus Research Institute, European Union, Smithsonian National Museum of, Cleveland Clinic, Volvo, Bayer, U.S . Food, Drug Administration, Getty, Keystone, — Farmers, Food and Drug Administration, FDA, Bloomberg, PANTHAKY, PrEP, US Centers for Disease Control, Independent, The University of Melbourne, International AIDS Society, Muhimbili University of Health, Allied Sciences, Dar Locations: Entebbe, Uganda, Thailand, London, Mbeya, Tanzania, South Africa, Ugandan, Durban, Masaka, Salam, African, Africa, China, FPG, AFP, United States, America, U.S, Peoria , Illinois, Europe, “, Dar es Salaam, Rwanda

☆ Powell's pivotal speech Friday could see a marked shift from what he's done in the past
▼ + stars: | 2023-08-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"I just think he's going to play it about as down the middle as possible," said Joseph LaVorgna, chief economist at SMBC Nikko Securities America. "He's got to strike that chord that the Fed is going to finish the job. "He's going to want to be a little more hawkish than neutral. But he's not going to deliver what he delivered last year. A Cleveland Fed inflation tracker anticipates August's figures will show a noticeable jump.

Persons: Jerome Powell, Powell, Win Mcnamee, Joseph LaVorgna, circumspect, LaVorgna, Donald Trump, He's, It's, Quincy Krosby, he's, Inflation's, Krosby, Patrick Harker, you've, Harker, CNBC's Steve Liesman, Jackson Organizations: Financial, Federal, Getty, Federal Reserve, Nikko Securities America, Research, National Economic Council, LPL, Cleveland, San Francisco Fed, Philadelphia Fed Locations: Washington , DC, circumspect Powell

☆ Why the Era of Historically Low Interest Rates Could Be Over
▼ + stars: | 2023-08-20 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

Soaring inflation has prompted the Federal Reserve to push interest rates well above neutral. Photo: Win McNamee/Getty ImagesDespite the Federal Reserve’s raising interest rates to a 22-year high, the economy remains surprisingly resilient, with estimates putting third-quarter growth on pace to easily exceed its 2% trend. It is one of the factors leading some economists to question whether rates will ever return to the lower levels that prevailed before 2020 even if inflation returns to the Fed’s 2% target over the next few years.

Persons: Win McNamee Organizations: Federal Reserve, Federal

☆ Rapid intensification, explained
▼ + stars: | 2023-08-17 | by ( Jennifer Gray | ) edition.cnn.com time to read: +14 min

So as the climate crisis forces up ocean temperatures, rapid intensification becomes more likely, pushing storms to explode at a rapid pace into deadly hurricanes, scientists say. Mike Lang/USA Today Network Workers and residents clear debris from a destroyed bar in Fort Myers on Saturday, October 1. Thomas Cordy/The Palm Beach Post/USA Today Network This aerial photo shows damaged homes and debris in Fort Myers Beach on Thursday. Wilfredo Lee/AP Jake Moses and Heather Jones explore a section of destroyed businesses in Fort Myers Beach, Florida, on Thursday. Martha Asencio-Rhine/Tampa Bay Times via ZUMA Press Wire Sarah Peterson fills sandbags in Fort Myers Beach on September 24.

Persons: ”, Phil Klotzbach, Klotzbach, ” Klotzbach, Ricardo Arduengo, Joe Biden, Jill Biden, Hurricane, Evan Vucci, Greg Guidi, Thomas Bostic, Joe Raedle, Win McNamee, Stephanie Fopiano, Kenya Taylor, Mike Lang, Giorgio Viera, Jonathan Drake, Candy Miller, Ana Kapel, Amy Beth Bennett, Meg Kinnard, Shannon Stapleton, Steve Helber, Joe Burbank, Orlando Sentintel, Alex Brandon, Jim Watson, Eva Marie Uzcategui, Bob Levitt, Thomas Cordy, Wilfredo Lee, Jake Moses, Heather Jones, Douglas R, Clifford, Tom, Jonathan Strong, Kylie Dodd, Brenda Brennan, Sean Rayford, John Raoux, Stefanie Karas, ZUMA, Ian, Marco Bello, Ben Hendren, Pedro, Reuters Melvin Phillips, Crystal Vander, Bryan R, Smith, Hurricane Ian, Greg Lovett, Stephen M, Dowell, Zuram Rodriguez, Joe Cavaretta, Crews, Ramon Espinosa, Yamil Lage, Chris O'Meara, Maria Llonch, Willie J, Allen Jr, Alexandre Meneghini, Reuters Frederic, Mary Herodet, Pete, Adalberto Roque, Phelan M, Ryan Copenhaver, Siesta, Gregg Newton, Cathie Perkins, Martha Asencio, Sarah Peterson, Andrew West, Ida, Laura, Hurricane Dorian Organizations: CNN, of Atmospheric Science, Colorado State University, North Atlantic, Getty, Fort Myers, Venice High, USA Today Network Workers, Reuters, South Florida Sun, AP, US Army National Guard, AP University of Central, Bloomberg, Texas, Force, USA, Tampa Bay Times, Zuma Workers, Orange County Government, An, AP Vehicles, NOAA, NASA, City, Naples Police, Anadolu Agency, Punta Gorda, El, El Nuevo Herald, TNS, Officials, Orlando Sentinel, AP Highways, Wednesday, Sentinel, AP People, Southwest, Tampa International Airport, Bistro, Vehicle, Kennedy Space Center, International, Costco, ZUMA Press, Louisiana, Simpson Locations: North, Matlacha , Florida, AFP, Fort Myers , Florida, Island , Florida, Fort, Fort Myers Beach, Kenya, North Port, Venice , Florida, Fort Myers, Myrtle Beach , South Carolina, South Florida, Quarterman, North Charleston , South Carolina, North Port , Florida, Sanibel, Florida, AP University of Central Florida, Orlando , Florida, Orlando, Charleston , South Carolina, New Smyrna Beach , Florida, Cape Coral , Florida, Palm Beach County , Florida, Fort Myers Beach , Florida, Naples , Florida, Orange County , Florida, Orange County, Punta Gorda , Florida, Punta Gorda, Port Charlotte , Florida, Captiva, Port Charlotte, Iona , Florida, Bonita Springs , Florida, An Orlando, Sanibel , Florida, Tampa , Florida, Punta, Tampa, Roberts, El Nuevo, Stuart , Florida, Tampa Bay, Delray Beach , Florida, The, Hurricane, Pembroke Pines , Florida, Davie , Florida, Havana, Cuba, Batabano, Pinar del Rio, St, Pete Beach , Florida, Cape Canaveral , Florida, Cuban, Fanguito, Sarasota , Florida, Havana Bay, Kissimmee, Pinellas County , Florida, Bahamas

☆ AI is being held up by a shortage of powerful chips
▼ + stars: | 2023-08-06 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

CNN —The crushing demand for AI has also revealed the limits of the global supply chain for powerful chips used to develop and field AI models. The latest sign of a potentially extended shortage in AI chips came in Microsoft’s annual report recently. In its May earnings call, Nvidia said it had “procured substantially higher supply for the second half of the year” to meet the rising demand for AI chips. AMD, meanwhile, said Tuesday it expects to unveil its answer to Nvidia’s AI GPUs closer to the end of the year. The chip shortage is expected to ease as more manufacturing comes online and as competitors to Nvidia also expand their offerings.

Persons: Microsoft’s, Sam Altman, Samuel Altman, OpenAI, Win McNamee, ” Altman, Raj Joshi, could’ve, ” Joshi, “, Joshi, ”, Lisa Su, we’ve, Sid Sheth, Biden, can’t, ” Sheth, Sheth Organizations: CNN, Microsoft, Privacy, Technology, Moody’s Investors Service, Nvidia, Intel, AMD Locations: Microsoft’s, Washington ,

☆ Donald Trump Jan. 6 indictment: Ex-president charged in DOJ's criminal probe into 2020 election interference — his 3rd indictment this year
▼ + stars: | 2023-08-01 | by ( Azmi Haroun | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Donald Trump has been indicted as part of the Department of Justice's investigation into the events leading up to the Jan. 6 Capitol riot. The riot was the culmination of efforts by Trump's supporters to block the certification of Biden's election. The Justice Department, in a team led by Special Counsel Jack Smith, brought the charges. Trump announced last month that Smith's team had served him a target letter indicating he may be indicted in the investigation. Trump and six co-conspirators also attempted to rope then-Vice President Mike Pence in their scheme and use the Justice Department to keep Trump in power, the indictment alleges.

Persons: Donald Trump, Trump's, Trump, Joe Biden, Jack Smith, Smith, Mike Pence, Walt Nauta, Stormy Daniels, MANDEL NGAN, Rudy Giuliani, Mark Meadows, John Eastman, Giuliani, What's, Win McNamee, Fani Willis empaneled, George, Biden, Dana Nessel, Jean Carroll Organizations: Department of, Service, Republican, The Justice Department, Truth, Justice Department, Trump, Capitol, White, Prosecutors, Representatives, US Department of Justice, Getty, DOJ, The Washington Post, NPR, Fulton Locations: Wall, Silicon, Florida, New York, Manhattan, Washington ,, AFP, Washington , DC, Fulton County, Atlanta, Michigan

☆ Here's what to expect from the Federal Reserve meeting Wednesday
▼ + stars: | 2023-07-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON, DC - JUNE 21: Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services June 21, 2023 in Washington, D.C. Powell testified on the Federal Reserve’s Semi-Annual Monetary Policy Report during the hearing. Win Mcnamee | Getty Images News | Getty ImagesDespite an improving inflation picture, the Federal Reserve is expected on Wednesday to approve what would be the 11th interest rate increase since March 2022. That would push the upper boundary of the federal funds rate to its highest level since January 2001. But apparently the folks at the Fed think they need one more at least." Likewise, Steven Blitz, chief U.S. economist at Globaldata.TSLombard, said a "dovish hike and talk of soft landings" at Wednesday's meeting would be a mistake for the Fed.

Persons: Jerome Powell, Powell, Win Mcnamee, they've, Kathy Jones, Charles Schwab, Jones, —, haven't, Luke Tilley, that'll, " Tilley, I'm, Andrew Hollenhorst, Steven Blitz Organizations: Federal, Financial, Getty, Federal Reserve, Investors, Open Market, Dow Jones, Investment Advisors, Citigroup Locations: WASHINGTON, DC, Washington ,, Central, —, Wilmington, U.S

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

☆ Someone brought a severed pig's head to the Miami courthouse where Trump is due to appear on Espionage Act charges
▼ + stars: | 2023-06-13 | by ( Edith Honan | ) www.businessinsider.com time to read: +3 min

Trump critics and the MAGA faithful gathered in Miami ahead of the former president's arraignment. "I am here expressing my joy, because in the end the system works," Estrada told the Miami Herald. Osmany Estrada holds the pig's head near a group wearing 'Blacks for Trump 2020' shirts. A Trump impersonator outside the Wilkie D. Ferguson Jr. United States Courthouse. Win McNamee/Getty ImagesA supporter of former President Donald Trump pulls a trailer around outside the Wilkie D. Ferguson Jr. courthouse in Miami.

Persons: MAGA, Trump, —, Donald Trump's, Osmany Estrada, " Estrada, Estrada, Giorgio Viera, Getty Images Trump, Wilkie, Ferguson Jr, Waltine Nauda, Domenic Santana, Win McNamee, Donald Trump, Scott Olson, Stormy Daniels, Joe Biden Organizations: Trump, Service, Miami Herald, Blacks, Getty Images, Federal, White House, Politico, Miami, Miami Police Department, United States, Getty, Manhattan, Attorney's, Prosecutors, Washington Post Locations: Miami, Lago, Cuban, Mar, Florida, Fulton County , Georgia

☆ Tim Cook bets his legacy on augmented reality
▼ + stars: | 2023-06-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +11 min

David Paul Morris/Getty Images Cook speaks in front of an image of an iPhone 4S at Apple headquarters in 2011. Yui Mok/PA Images/Getty Images Tim Cook puts on a Boston Red Sox jersey before a baseball game between the Red Sox and the Detroit Tigers in June 2017. Justin Sullivan/Getty Images Tim Cook signs the box of a new iPhone X at an Apple Store in Palo Alto in November 2017. Andrew Harrer/Bloomberg/Getty Images Cook speaks via video conference at a House Judiciary subcommittee hearing on online platforms and market power in July 2020. In pictures: Apple CEO Tim Cook Prev NextFollowers of the company are divided on what the headset could ultimately mean for Cook.

Persons: Tim Cook, Steve Jobs, Cook, It’s, … it’s, ”, Margaret O’Mara, Andrew Burton, Phil Schiller, Jobs, David Paul Morris, Apple, Tom Williams, Marcio Jose Sanchez, Bono, Justin Sullivan, Tony Avelar, Stephen Lam, George Washington University's, Alex Brandon, Stephen Colbert, Jeffrey R, Pope Francis, Shutterstock Cook, Maddie Ziegler, AirPods, Monica Davey, James Corden, Pharrell, Beck Diefenbach, Reuters Cook, Yui Mok, Billie Weiss, Donald Trump, Jonathan, Oprah Winfrey, Win McNamee, Theresa Goh, Edgar Su, Andrew Harrer, Graeme Jennings, Noah Berger, Sajid Moinuddin, India's, Francis Mascarenhas, Brooks Kraft, it’s, Mike Bailey, “, Tim Bajarin, ’, ” Bajarin, Bajarin, they’ll Organizations: New, New York CNN, Apple, Vision, Apple Watch, University of Washington, Washington Post, Getty, Reuters, Alamy, Homeland Security, Governmental, Flint Center, Performing Arts, Cook, CBS, Serviziofotograficoor, Primary School, Boston Red Sox, Red Sox, Detroit Tigers, American Technology, White House, Steve Jobs Theatre, Carnegie Library, Central Public Library, Bloomberg, Singapore, Apple Worldwide, Conference, Epic Games, Apple Inc, FBB Capital Partners, Jobs Locations: New York, Cupertino , California, Cupertino, Palo Alto , California, Palo Alto, San Francisco, Down, London, Washington , DC, Oakland , California, Mumbai

☆ Trump pleaded not guilty in federal court for his blockbuster Mar-a-Lago documents case
▼ + stars: | 2023-06-13 | by ( Kimberly Leonard | Insider Staff | ) www.businessinsider.com time to read: +5 min

Donald Trump pleaded not guilty in court after surrendering to US Marshals Tuesday. He's the first ex-president to be charged in federal court — and now the first to enter a plea. Trump entered the custody of the US Marshals Service and was arrested on Tuesday ahead of his historical court appearance at an arraignment in Miami federal court. On Friday, the court unsealed a 38-count indictment against Trump and Waltine Nauta, one of his personal aides. Win McNamee/Getty ImagesTrump held on to sensitive national security documents, prosecutors sayThis is the second pending criminal case against Trump.

Persons: Donald Trump, He's, —, Jack Smith, Trump, Jonathan Goodman, Todd Blanche, Blanche, Waltine, Prosecutors, Goodman, Win McNamee, Stormy Daniels, Smith, General Merrick Garland, Joe Biden, Bragg, Smith's, Jose Luis Magana, Aileen Cannon, Cannon, She'll, James, John Rowley Organizations: US, Prosecutors, FBI, Service, US Marshals Service, Justice, Trump, National Archives, Getty, Manhattan District, AP, Republican Locations: Miami, North Carolina, Mar, United States

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