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☆ The Artist and Mystic Who Collected the World
▼ + stars: | 2023-08-14 | by ( Dwight Garner | More About Dwight Garner | ) www.nytimes.com time to read: +1 min

“Who is Harry Smith? Facts about his life, especially his early life, are hard to come by. He was one of the great downtown New York figures of the second half of the 20th century. He wandered the world as if it were his personal shoreline. Smith was an ambassador from the territory Greil Marcus has delineated as the “old, weird America.”

Persons: Harry Smith, John Szwed, ” John Szwed, “, Smith, Walker Evans, James Agee, Evans, billy, Patti Smith, Szwed, Greil Marcus, ” Organizations: Folk, Chelsea Hotel Locations: New York, flophouses

☆ Political violence in polarized U.S. at its worst since 1970s
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +26 min

Three academics who reviewed the cases say they add to growing evidence that America is grappling with the biggest and most sustained increase in political violence since the 1970s. Political violence surged for nearly a decade starting in the late-1960s – 1970 alone saw more than 450 cases, LaFree said. In contrast, much of today’s political violence is aimed at people – and most of the deadly outbursts tracked by Reuters have come from the right. “Political warfare”There’s no official tally of how many Americans die each year from political violence. Most of the fatal political violence identified by Reuters was carried out by people who embraced far-right views.

Persons: Kristen King’s, King, “, Austin Combs, ”, “ He’s, wailed, Anthony King, Donald Trump, Gary LaFree, LaFree, Rachel Kleinfeld, Carnegie’s Kleinfeld, Trump, Christopher Wray’s, Combs, Let’s, Joe Biden, Dave Spurrier, ” Combs, Wayne Staton, gaunt, Bri Smith, “ honk, Bubba, Ross, Cody Lee Harbaum, ” Harbaum, Edgar, Floyd Rockwell, Terry B’s, “ Hillary, Kim Jenkins, Patti Betz, “ Austin, Betz, Miss Patti, ‘, ” Betz, Paul Pelosi, Nancy Pelosi, Paul, Nancy Pelosi’s, Katie Pridemore, Shawn Popp, Popp, Donald Henry, Henry, ’, Craig Greenberg, Quintez Brown, Greenberg, Brown, ” Brown, Robert Telles, Telles, Benjamin Smith, Dajah Beck, Beck, Smith, Allie Bradley, “ You’re, Bradley, Kristine Christenson, Ben Smiths, rightwing hecklers, ” Bradley, Knightly’s, Katherine Knapp, King’s, Kristen, Pridemore Organizations: Democrat, Reuters, U.S . Capitol, University of Maryland criminologist, Oklahoma, Federal Bureau of, Carnegie Endowment, International, Democratic, Trump, U.S . Department of Homeland Security, Republican, Democratic Party, Republican Party, Miss, . House, San, U.S, Capitol, Media, Attorney’s Office, Judicial, Las, Veterans, Pridemore Locations: OKEANA, Ohio, Okeana, America, Florida, Portland, Buffalo, Washington, Butler County, Brandon, Butler, Hamilton, San Francisco, Wisconsin, New Mexico, U.S, Louisville , Kentucky, China, Taiwan, California, Clark County , Nevada, Las Vegas, Normandale, Portland , Oregon, ”

☆ August Wilson, a Theater Titan Who Spun Gold in Diners
▼ + stars: | 2023-08-07 | by ( Dwight Garner | More About Dwight Garner | ) www.nytimes.com time to read: +1 min

Mamet’s title came back to me while I was reading Patti Hartigan’s biography of another essential American playwright, August Wilson. Wilson, who died in 2005, spent so much time lingering in diners that “Writing in Restaurants” is a plausible alternative subtitle for Hartigan’s “August Wilson: A Life.”Wilson was a large, bearded man, often in tweeds and a pageboy cap. He’d sit in the back with a cup of coffee and an overflowing ashtray. As his fame grew, he’d find a place in each city where his plays were staged. It was his daily slice of experimental theater.

Persons: WILSON, Patti Hartigan, David Mamet, Patti Hartigan’s, August Wilson, Wilson, Hartigan’s “, ” Wilson, He’d, “, Arthur Treacher’s Fish, he’d Locations: ”, New York City, Boston, Seattle, Caffe Ladro

☆ The Playwright Who Changed the Face of American Theater
▼ + stars: | 2023-08-03 | by ( Patti Hartigan | ) www.nytimes.com time to read: +3 min

Yoshimura had been told that he would succeed only if he wrote plays about Asian Americans, but Wilson assured him that was nonsense. Yoshimura intuited that his friend was “deeply wounded” and didn’t push the issue. At the preconference, they both told Wilson that the play needed cuts. (Helen Hayes had been in the audience that night, and she left after the first act, reportedly saying, “I think I’ve had enough theater for one night.”) Wilson took out a long monologue about bones walking on water, a poetic piece of writing. Eugene O’Neill wrote about the fog in his masterpiece, “Long Day’s Journey Into Night.” “How thick the fog is,” he wrote.

Persons: Yoshimura, Wilson, ” Wilson, Yoshimura intuited, “, ”, Bill Partlan, “ Ma Rainey, Edith Oliver, can’t, Helen Hayes, I’ve, Partlan, “ Joe Turner’s, Troy Maxson, Maxson, Cory, Troy, Gabriel, Peter, Gabriel lightens, Eugene O’Neill Organizations: Yorker, Negro Leagues, Leagues Locations: “, St

☆ Tony Bennett, crooner who sang ‘I Left My Heart in San Francisco,’ dies at 96
▼ + stars: | 2023-07-21 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +16 min

CNN —Legendary singer Tony Bennett, best known for singing “I Left My Heart in San Francisco,” has died, according to his longtime publicist, Sylvia Weiner. From Tony Bennett Bennett was discovered by Bob Hope while performing at a New York City club in 1949. In 1963, his recording of "I Left My Heart in San Francisco" won Grammy Awards for record of the year and best solo vocal performance. ABC Photo Archives/Walt Disney Television/Getty Images Bennett and San Francisco Mayor Dianne Feinstein hang onto the outside of a San Francisco cable car before taking a test ride in 1984. His performance of “I Left My Heart in San Francisco” won Grammys for best record and best male vocal performance.

Persons: Tony Bennett, “, ”, Sylvia Weiner, Bennett, Bob Hope, Frank Sinatra, Lady Gaga, ” Bennett, he’d, CNN’s Larry King, Susan Benedetto, Danny, Dae Bennett, Johanna Bennett, Antonia Bennett, Paul McCartney, Larry Busacca, Anthony Benedetto, Tony Bennett Anthony Dominick Benedetto, Hope, ‘, ’, ‘ Anthony Dominick Benedetto, ’ ” Tony Bennett, Virginia Sherwood, Anthony Dominick Benedetto, John, Mary, John Jr, Tony Bennett Bennett, Bill Randall applauds, Patricia, D'Andrea, Daegal, Pat, collie, David McLane, Sammy Davis Jr, David Redfern, Louis Armstrong, Charlie Ley, Sandra, Malcolm MacNeil, Mirrorpix, Joanna, Howard Cosell, Dianne Feinstein, Feinstein, Jeff Reinking, David Letterman, Richard Drew, Patti LaBelle, Hans Deryk, Mark J, Terrill, Elton John, Scott Gries, Madame Tussaud's, Kevork, Tim Mosenfelder, Fernando Leon, Tina Turner, Robert Redford, Julie Harris, Suzanne Farrell, Scott Suchman, Kevin Winter, Billy Joel, York's Shea, Kevin Mazur, Duke Ellington, Brendan Hoffman, Stevie Wonder, Shahar Azran, Amy Winehouse, Kevork Djansezian, Susan, Michael Loccisano, Sean Zanni, Ball, Tony, San Francisco ”, …, ’ ” Bennett, NPR’s Terry Gross, it’s, Clinton, JP Yim, you’re, “ It’s, Danny Bennett, kd, Elvis Costello, “ Tony Bennett, Jack Benny, Charlie Chaplin, Walt Disney, Gary Gershoff, –, Sinatra, Jon Bon Jovi, Bono, ” Sinatra, “ Larry King, Ella Fitzgerald, Ella, Bing Crosby, “ Cheek, Cheek, Alzheimer’s Organizations: CNN, MTV, Recording Academy, Los Angeles Convention Center, Paramount, NBCU, Bank, Getty, Facebook, Columbia Records, Bettmann, Patrick's, NY, Smithsonian, Daily, Hulton, ABC, Walt Disney Television, San Francisco, United Nations, Super, Rainforest Foundation, New York's Carnegie Hall, San Francisco Giants, Kennedy, Apollo, New York's Radio City Music Hall, American Ballet, Children's Diabetes Foundation, Children's Diabetes, Radio City Music Hall, San, Clinton Global, New York Times, New York’s High, of Industrial Art, Kennedy Center, ”, AARP, Radio City Music, CBS Locations: San Francisco, New York, Los Angeles, Astoria , New York, Greenwich Village, New York City, Cleveland, St, Manhattan, Redferns, Washington , DC, View , California, Washington, Lady

Say you have a succession plan in place, and have identified an owner, price, and date of transition. That one scenario points to the importance of "what ifs" to consider in any succession plan. That's why a well-rounded succession plan also addresses business continuity. Those contingencies include: Income: What accommodations will provide income if you need to take a leave before a succession transition is complete? What accommodations will provide income if you need to take a leave before a succession transition is complete?

Persons: Patti Bell, Price, Bell, You'll, SIPC Organizations: Partners, Insider Studios, Kiplinger, National Life Insurance, Life Insurance, Inc, Principal Funds, Securities, Principal Securities, Financial Services Locations: NY, Des Moines

Business succession is one of the top priorities for business owners, according to the 2023 Principal® Business Owner Insights survey1. Yet 39% of these business owners lack a succession plan. A thoughtful, thorough succession plan benefits you — helping you figure out retirement income, for example. Here are six key steps to creating your succession plan. Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®.

Persons: Patti Bell, it's, Bell, doesn't, SIPC Organizations: Insider Studios, National, Insurance, Life Insurance, Inc, Principal Funds, Securities, Principal Securities, Financial Services Locations: NY, Des Moines

☆ London Tours Explore the Worlds of Opera and Classical Music
▼ + stars: | 2023-07-01 | by ( Farah Nayeri | More About Farah Nayeri | ) www.nytimes.com time to read: +1 min

Have you ever wondered what happens behind the red velvet curtains at the Royal Opera House? London has a rich variety of tours and collections for opera and classical-music enthusiasts. Royal Opera HouseWho were some of the women who made history at the Royal Opera House in Covent Garden? It’s a question that the opera house is answering in detail in a tour that runs through Aug. 12. And in a performance as Violetta in “La Traviata,” she wore a custom gown encrusted with 3,700 of her own diamonds.

Persons: ”, Adelina Patti, Violetta Organizations: Royal Opera, Royal Opera House Locations: London, Covent, Italian, New York, “ La

Their tormentors have also called in false bomb threats to venues using their names in three states. To combat the growing problem, the FBI has begun taking formal measures to get a comprehensive picture of the problem on a national level. Chief Scott Schubert with the bureau's Criminal Justice Information Services headquarters in Clarksburg, West Virginia, told NBC News that the agency formed a national online database in May to facilitate information sharing between hundreds of police departments and law enforcement agencies across the country pertaining to swatting incidents. No central agency has tracked swatting incidents or suspects in the U.S., so official statistics are not available. The couple was mostly recently swatted at their home on Tuesday, bringing the total of swatting incidents to 43.

Persons: Patrick Tomlinson, Niki Robinson, hasn't, Scott Schubert, Schubert, Lauren R, Shapiro, Mark Herring, Niki Robinson.NBC, —, Andrew Finch —, Finch, Swatting, he'd, Norm Macdonald, Tomlinson, It's, impersonators, Swatters, Patti Labelle, Robinson Organizations: Las Vegas, Tribune, Service, Getty, Clemson, Harvard, Cornell, Rutgers, Middlebury College, swatters, FBI, bureau's, Information Services, NBC News, NBC, Google, John Jay College of Criminal, Defamation League, Twitter, Daily, YouTube, Police, Irish, Milwaukee Brewers, Riverside Theater Locations: Milwaukee, U.S, Clemson , Florida, Boston, Pittsburgh, Oklahoma, Clarksburg , West Virginia, Texas, China, Taiwan, Tennessee, Wichita, Wisconsin, Marquette

☆ The Family of a Former Supreme Battles for Control of Her Life
▼ + stars: | 2023-06-29 | by ( Julia Jacobs | Christopher Petkanas | ) www.nytimes.com time to read: +2 min

“It has been an open secret among the Motown family, the tragedy of Cindy,” Herman said in an interview. Lander considered but did not agree to an interview, and stopped responding to inquiries. With her gentle manner and polished skills, she was well suited for a daunting role: keeping one of Motown’s premier acts on track. “Cindy had a strong voice and charisma,” Gerald Posner, a Motown historian, said in an interview. “She’s the one who had to make the change look seamless — and she did.”

Persons: Motown, Cindy, ” Herman, Lander, Birdsong, ” Lander, ” Birdsong’s, Patti LaBelle, Ballard, Diana Ross, Ballard —, “ Cindy, ” Gerald Posner, “, ” Organizations: Soup, Motown Locations: Camden , N.J

☆ Klimt’s ‘Lady With a Fan’ Brings $108.4 Million, Auction Record for the Artist
▼ + stars: | 2023-06-27 | by ( Scott Reyburn | ) www.nytimes.com time to read: +1 min

Post-Brexit London regained some credibility as the capital of Europe’s high-value art market on Tuesday when a radiant portrait by Gustav Klimt, “Lady With a Fan,” sold at Sotheby’s for 85.3 million pounds with fees, or about $108.4 million. The price was an auction high for the renowned Austrian artist and was the highest for a public sale in Europe, beating Alberto Giacometti’s “Walking Man I,” which sold for $104.3 million in 2010, also at Sotheby’s in London. The audience erupted into the sort of thunderous applause that hasn’t been heard at a London auction for some years. “The price was within our expectations,” said Wong, the former chair of Sotheby’s Asia, who added that she was buying for a Hong Kong collector. The final price topped Klimt’s previous auction high of $104.6 million, given in November for the 1903 landscape “Birch Forest,” at Christie’s, in New York.

Persons: Gustav Klimt, ”, Alberto Giacometti’s “, Patti Wong, hasn’t, Wong Locations: Europe’s, Austrian, Europe, Sotheby’s, London, Hong Kong, Asia, Birch, ”, Christie’s, New York

☆ Tina Turner to be honored by Patti LaBelle during the BET Awards on Sunday
▼ + stars: | 2023-06-24 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

CNN —The legendary Tina Turner will receive a posthumous tribute this weekend as part of the 2023 BET Awards. Patti LaBelle is set to honor the late icon with a performance during the awards show that will capture “the essence of Turner’s unparalleled legacy,” according to a release from BET. This year’s BET Awards will also honor several other landmark entertainers. Past lifetime achievement award recipients have included Whitney Houston, Prince, Queen Latifah, Mary J. Blige, Samuel Jackson, Lionel Richie and New Edition. The BET Awards 2023 will air live on Sunday on BET at 8 p.m. ET/ PT from the Microsoft Theater in Los Angeles.

Persons: Tina Turner, Patti LaBelle, Turner, Busta, Bia, Cutty Ranks, Dexta, Swizz Beatz, Whitney Houston, Queen Latifah, Mary J, Blige, Samuel Jackson, Lionel Richie Organizations: CNN, BET, Microsoft Theater, Paramount Locations: Zurich, Switzerland, Cutty, Prince, Los Angeles

☆ Kristin Harmel Helped Build the Village That Sustained Her
▼ + stars: | 2023-06-22 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +1 min

In March 2020, Kristin Harmel was gearing up for the paperback publication of her 11th novel, “The Winemaker’s Wife.” Then the world came to a grinding halt (and many of us who aren’t married to a winemaker wished we were). “We called it our Oh Hey Rosé Zoom,” she said in an audio-only interview. “We all had a glass of wine and got on the Zoom together.”On April 15, 2020, Harmel and a handful of those novelists hosted a Facebook Live for their fans. “This community we thought was going to be a few hundred people has now grown to 170,000 members,” Harmel said. By the time I woke up the next morning, I think there were at least 2,000 comments and probably 700 or 800 emails in my inbox.”

Persons: Kristin Harmel, aren’t, ”, “, Mary Kay Andrews, Andrews, Kristy Woodson Harvey, Patti Callahan Henry, ” Harmel Organizations: Facebook

☆ Her son said his stepdad was sexually abusive. A judge gave the stepdad custody anyway. Then she found the photographs.
▼ + stars: | 2023-05-18 | by ( Olivia Gentile | ) www.businessinsider.com time to read: +58 min

Robert confronted Winenger with the allegations that November, and within weeks Winenger denied the claims in family court. In a family court hearing in Vista, California, on October 28, 2021, Commissioner Patti Ratekin chastised Jill Montes for allegedly alienating her kids from her ex-husband. From a list provided by the Delaware Family Court, Kelly chose a psychologist, William Northey. Their father cited the report in asking a Delaware family court judge to order the boys to change schools. Family Court of the State of Delaware, New Castle CountyCiting the email and a subsequent report, Michael pressed Ostroski to order the transfer.

Persons: he'd, Robert, stepdad, Thomas Winenger, Winenger, Robert's, Jill Montes, Montes, Patti Ratekin, she'd, Ratekin, Richard Gardner, Gardner, Lynn Steinberg, she's, Maya, shrieks, Joan Meier, They'd, —, Meier, Tom Brenner, Paige, Maggie Shannon, Claire, Eden, Weeks, Hester Prynne, Mitra Sarkhosh, Sarkhosh, San Diego Robert, Tom Winenger, Tamatha Clemens, Miguel Alvarez, Alvarez, overreact, Alvarez didn't, Bridges, Janell Ostroski, Linda Gottlieb, Ostroski, Michael D, Ashton, Alfield Reeves, Michael, Kelly D, Kelly, who've, Randy Rand, Chris, Rand, he's, Rand isn't, Jane Shatz of, Joann Murphey, Murphey, Steinberg, Ally Toyos, Kit R, Toyos, Emily, Richard Warshak, Elizabeth Loftus, Harvey Weinstein's, Loftus, Hannah Rodriguez, Linda Gottlieb's, Gottlieb, Rodriguez, Yvonne Parnell, Brian Ludmer, Ludmer, Parnell, aren't, Daniel Barrozo, Mom, Jean Mercer, Mercer, who'd, Michael Saini, Saini, Hannah Yoon, — Ashton, Judge Ostroski, William Northey, Northey, O, Addie Asay, mistreating Ashton, Rachel Brandenburg, Brandenburg, I've, Michael's, Gardner's, Gardner dosed, Dr, Paul Fink, Fink, Warshak, William Bernet, Patrick Clancy, doesn't, She'd, Brian Fitzpatrick, Sen, Susan Rubio, Meier's, Rebecca Connolly, didn't, Connolly, Heidi Simonson, Rubio, Theresa Manzella Organizations: Investigations, San, Business, Child Welfare, of, American Psychiatric Association, World Health Organization, American Professional Society, George Washington University, Violence Law, George Washington University Law School, Columbia University, PAS, Sarkhosh, San Diego County Sheriff's Department, California Health, Welfare Agency, Psychology, Bridges, Texas, Roane, Stockton University, University of Toronto, Families, Delaware Family Court, Family, Delaware Family, Association of Family, Conciliation, Newsday, University of Texas Southwestern Medical Center, HarperCollins, Family Bridges, Vanderbilt University, Disorders, The Justice Department, WHO, of Social Welfare, Family Law, Winenger, Montes, Superior Locations: San Diego County, Vista , California, of California, Family Bridges, United States, Santa Cruz , California, Sacramento, Los Angeles, San Diego, toddlerhood, Ratekin, San, California, Eden, New Castle County , Delaware, New York, Ashton, Delaware, Jane Shatz of California, Seattle, Southern California, Texas, Kansas, Toyos, Bozeman , Montana, Family, Tampa , Florida, New, Hudson Valley, Chino , California, Wilmington , Delaware, of Delaware, New Castle County, Denver, Washington, Pennsylvania, Susan Rubio of Los Angeles County, statehouses, Watsonville , California, Santa Cruz, Michigan , Kansas, Utah, Colorado, Montana

☆ How the nation's first alert system to help find Indigenous people brings new awareness for the missing
▼ + stars: | 2023-05-05 | by ( Nicole Chavez | ) edition.cnn.com time to read: +5 min

CNN —Nearly a year since the nation’s first alert system for missing Indigenous people launched in Washington, the push to address the crisis of unsolved cases continues spreading in the state and beyond its borders. As of this week, authorities have issued 56 alerts, according to the Washington State Patrol. “It’s working because of the community coming together and people stepping up,” said Patti Gosch, a tribal liaison with the Washington State Patrol. The focus on the crisis of missing Indigenous persons in the state and its efforts are expanding. As of Monday, there were 142 Native Americans missing in Washington state, according to the Washington State Patrol.

☆ Barack and Michelle Obama spotted enjoying a special date night at Bruce Springsteen's concert in Barcelona
▼ + stars: | 2023-04-30 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

The Obamas were spotted enjoying a date night at a Bruce Springsteen concert in Barcelona. Barack and Michelle Obama were seen dancing together at the side of the stage. Michelle Obama surprised the crowd with an appearance onstage as a part-time backing singer for "The Boss." Former US President Barack Obama, film director Steven Spielberg and singer Bruce Springsteen pose for a picture with Amar restaurant staff in Barcelona, Spain April 27, 2023. Pol Perello Franch via REUTERSJust days before, the couple surprised staff at the Palace Hotel's Amar fish food restaurant with a last-minute booking, dining with Bruce Springsteen and Steven Spielberg, The Guardian reports.

☆ ICON prepares to build on the lunar surface. But first, a moonshot at home
▼ + stars: | 2023-04-12 | by ( Thomas Page | ) edition.cnn.com time to read: +9 min

Casey Dunn/ICONA thread running through ICON’s work is building homes for disadvantaged people, including accommodation for the long-term homeless, often in collaboration with non-profits. Bailey suggested the success of 3D-printed housing could hinge on how it is perceived by prospective residents. Instead of Lavacrete, ICON is experimenting with using lunar regolith, the mineral-rich dust and rock that covers the moon’s surface. ICON's Project Olympus will see a construction system built by the company on the moon later this decade. Apis CorCOBOD is responsible for what it claims is the tallest 3D-printed building in the world, a three-story house in Saudi Arabia.

☆ ‘Beau Is Afraid’ Review: A Visit With Mommy Dearest
▼ + stars: | 2023-04-12 | by ( Manohla Dargis | ) www.nytimes.com time to read: +2 min

Ari Aster’s “Beau Is Afraid” is a supersized, fitfully amusing, self-important tale of fear and loathing. As the title announces, its protagonist, Beau Wassermann — a terminal sad-sack played by the invariably watchable Joaquin Phoenix — is anxious, well, about everything. Outwardly, “Beau Is Afraid” seems to be a departure for Aster, whose first two features center on horrific happenings and some seriously bad relationships. In “Hereditary” and “Midsommar,” Aster meticulously peels back the ostensibly ordinary surface of the world, its patina of normalcy, to reveal the annihilating malevolence beneath it. In “Beau Is Afraid,” Aster changes things up by making Beau difficult to cozy up to.

☆ How to talk to your aging parents about safe driving
▼ + stars: | 2023-03-30 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

One person may represent a danger on the roads at age 65, while another may be perfectly fine at age 85. Upgrades can help them stay safe, including technologies to keep drivers from drifting out a lane, backup cameras and various other detection systems. Special licensing requirements for elderly drivers can help screen out problems with vision and cognition. Some states require more frequent renewal for older drivers, or demand regular vision checks, or prohibit online renewals altogether. For a few hundred dollars a year, you could get a $1 million policy that should let everyone sleep better at night – both you, and your parents.

☆ Bank fears will likely lead to even more market volatility in the week ahead
▼ + stars: | 2023-03-24 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

Market turbulence could reign supreme once again in the week ahead, as investors worry about the potential for more trouble rippling through the banking system. The broader market was initially under pressure Friday as investors became jittery about Deutsche Bank . "The market is saying: 'You, the Fed, do not appreciate the slowdown that is going to hit us,'" Chandler said. "The market is going to do a lot better and it held onto its gains despite all the things that rocked the market. He added that market concern about banks has risen, and there is concern credit tightening will hurt the economy.

☆ CNBC Daily Open: Powell flipped the script
▼ + stars: | 2023-03-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, chairman of the US Federal Reserve, exits following a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, March 22, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The last few Federal Open Markets Committee meetings have followed a pattern. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Jerome Powell flipped the script
▼ + stars: | 2023-03-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The last few Federal Open Markets Committee meetings have followed a pattern. Markets had expected a hike of 25 basis points, and that's what they got. Indeed, Quincy Krosby, chief global strategist of LPL Financial, noted "markets are responding well to the expected 25 basis points rate hike." Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Markets saw a dovish Fed hike but Powell's warning on credit conditions spooked investors
▼ + stars: | 2023-03-22 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

Are we going to celebrate the end of Fed rate hikes because things have started to hit the fan?" Strategists pointed to Powell's comment that financial conditions may have tightened more than it appears in traditional market measures, which would be stocks and bond spreads. "Number one, he remains unwavering on inflation, and he does acknowledge he sees a tightening of credit conditions. Briggs also called out Powell's comments about the impact from credit tightening , and the effect those actions can have. "That tightening via credit conditions can take the place of hikes (and vice versa if we don't get tighter credit conditions)," he said. "

☆ The Fed is likely to hike rates by a quarter point but it must also reassure it can contain a banking crisis
▼ + stars: | 2023-03-21 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Investors will be looking for assurances from Fed Chairman Jerome Powell that the central bank can contain the banking problems. Expectations for Fed rate hikes also moved dramatically: What was expected to be a half-point hike two weeks ago is now up for debate at a quarter point or even zero. He said the Fed will not likely say it is going to pause, but its messaging could be interpreted that way. Depending on their [projections], I think the market will think this is the final hike." Swonk also expects the Fed to withhold its so-called dot plot, the chart on which it shows anonymous forecasts from Fed officials on the path for interest rates.

☆ Fed faces a nearly impossible task: Keep inflation fighting cred and financial stability
▼ + stars: | 2023-03-21 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

Some investors worry the Federal Reserve will have a tough time succeeding in wielding the tools to both fight inflation and calm the banking system. During the financial crisis and again in the Covid pandemic , it was able to come to the rescue of the financial system by cutting interest rates to zero. Now, it faces persistently high inflation and is considering another rate hike — a tool that could calm rising prices but add more pain to the banking system. Goldman Sachs economists are among the few who expect the Fed to refrain from hiking Wednesday because of worries about the banking system. "We think Fed officials will therefore share our view that stress in the banking system remains the most immediate concern for now."

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