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The Fed's meeting will be followed with expected rate increases by the European Central Bank on Thursday and the Bank of England next week. But the U.S. central bank is furthest along in the process, and may signal that this week's rate increase is the last, at least for now. Inflation has been edging down, gradually, with the main price index the Fed watches still more than double the central bank's 2% target. The anticipated quarter-percentage-point increase on Wednesday will put the target federal funds rate at roughly the same spot, between 5% and 5.25%. With this rate increase, Fed officials will hit a level that will be about 1 percentage point above the rate they consider to have a neutral impact on economic activity.

Government officials, worried about a constrained labor force in a state where population growth has stalled, have taken a cover-the-waterfront approach. After raising starting wages from $17 an hour to around $24 and overhauling hiring strategies, Drees still has 200 open jobs at this and two nearby facilities, where he is hoping to add to current staffing of 1,200. That reshuffling may be one reason the Fed is finding it harder than expected to slow a job market struggling to match workers into open positions. Minnesota has had a particularly large imbalance: The 12-month moving average of available positions last year reached 2.75 for every unemployed person. "Nowadays you look online and there are just hundreds of day-shift job positions," he said.

HONG KONG, May 2 (Reuters Breakingviews) - Money flowing into the People's Republic is getting uncomfortably hot. Yet recent reversals in New York, Hong Kong and Shanghai suggest that is driven by fickle short-term funds – exactly what Beijing doesn’t want. Reuters Graphics Reuters GraphicsFollow @mak_robyn on TwitterCONTEXT NEWSChinese spirit maker ZJLD shares closed down 18% lower than their initial public offering price on their trading debut April 27. The KKR-backed company raised $676 million in what was the biggest offering in Hong Kong since October 2022. Separately, the Ontario Teachers' Pension Plan, Canada's third largest pension fund, closed down its China equity investment team based in Hong Kong, Reuters reported on April 25, citing sources.

☆ ChatGPT is more empathetic than real doctors, experts say
▼ + stars: | 2023-05-02 | by ( Aaron Mok | Hilary Brueck | ) www.businessinsider.com time to read: +5 min

Experts found the chatbot's responses to patient questions were higher quality and more empathetic. ChatGPT can still make grave medical errors, but this study suggests AI may improve upon a doctor's bedside manner. ChatGPT may be just as good as doctors — if not better — at responding to patients' medical questions, according to a new study. The chatbot's responses were rated 3.6-times higher in quality and 9.8-times higher in empathy than those of the physicians. But ChatGPT can still make mistakes and misdiagnose, which is why doctors are cautious about letting it loose to patients at home.

☆ Webb telescope detects mysterious water vapor in a nearby star system
▼ + stars: | 2023-05-02 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —The James Webb Space Telescope has detected water vapor around a rocky exoplanet that orbits a star located 26 light-years away from Earth. The presence of water vapor could suggest that GJ 486 b somehow has an atmosphere, despite its heat and proximity to the star. “Water vapor in an atmosphere on a hot rocky planet would represent a major breakthrough for exoplanet science. The results from the Webb data analysis pointed to water vapor being present around GJ 486 b. Future observations of the planet using different instruments on the Webb telescope could reveal additional details about the source of the water vapor.

☆ Surprise resort trips and empty hotel rooms reveal how Russia's plan for an easy victory in Ukraine fell apart
▼ + stars: | 2023-04-30 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

While Russian intelligence services ramped up operations, the US intelligence community started declassifying intelligence about Russian plans. In an unprecedented move, the US revealed Russia's intentions and informed Kyiv about the Russian intelligence operations inside Ukraine. Once Russia's military secured the city, its special-operations forces would begin what the report calls "repressive operations." The Kremlin even compiled a target deck full of unwanted people to be "liquidated" once the Russian forces were in control of the country. Preparing the battlefieldA member of the Ukrainian military in front of a destroyed Antonov An-225 at the airport in Hostomel in July 2022.

Governments were able to tailor their data reporting so it could be aggregated. Pulling the data closest to the outbreaks allowed us to publish nearly real-time information as the pandemic spread. Politicized rhetoric about vaccines also drove decisions in some parts of the country to end data reporting. As of this spring, only seven states continued to publish data on cases and deaths more than once a week. There is still much to do to fix the hodgepodge of antiquated, disconnected surveillance data systems that exist across governments.

That surge is now driving debate inside the U.S. Federal Reserve about how much weight to give ongoing wage increases as policymakers assess the path of inflation. Reuters GraphicsThe Fed will also receive updated data on the personal consumption expenditures price index, the measure it uses to set its 2% price target. Reuters Graphics“The one thing that I think we’re spending too much time looking at is wage growth as an indicator of prices,” Chicago Fed President Austan Goolsbee told CNBC this month, citing recent research by Chicago Fed staff. He said he views rising wages as the result of that still- strong demand, something that should ease alongside price pressures once the money is gone. Reporting by Howard Schneider; Editing by Dan Burns and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ I made $194,000 in a year as a freelancer taking pictures of M&Ms, Burt's Bees, and other products. Here's the exact email I used to land clients.
▼ + stars: | 2023-04-28 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +8 min

See the email template Schlabs uses to land clients such as Burt's Bees and M&M's. I studied marketing at college and had a marketing job lined up but decided to instead go into freelance product photography after I graduated. I decided to try product photography freelanceWhen I left college in May 2020, I decided to try out product-photography freelancing. My name is Deidre Schlabs, I own Fluff Media, a full-service photography agency focusing on editorial and content product photography. I am reaching out to see if you are in need of product photography and/or social media content creation.

☆ After a year of heavy losses, Ukraine's military is juggling a 'very uneven' force as it prepares for major fighting, expert says
▼ + stars: | 2023-04-28 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

Ukraine's military is gearing up for offensives against Russian forces in spring and summer. Mustafa Ciftci/Anadolu Agency via Getty ImagesWhen Russia invaded in February 2022, Ukraine's military had about 196,000 active personnel and 900,000 in reserve, according to the International Institute of Strategic Studies' 2022 Military Balance report. The Western approachAn instructor briefs Ukrainian soldiers at a training center near Yavoriv in April 2017. The training they provided accompanied other efforts by Kyiv to reverse two decades of post-Cold War decay that weakened the Ukrainian military. "This is a continuous struggle in the Ukrainian military," Kofman said.

☆ Russia wanted a quick victory in Ukraine, and it sent its spies after Ukrainian nuclear power plant workers to make it happen
▼ + stars: | 2023-04-27 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

Ukraine's nuclear power plants were a central part of Russia's plan to force Kyiv's capitulation. So when Russia started planning its invasion, Ukraine's nuclear energy infrastructure was a top target. According to the RUSI report, Ukraine's nuclear energy infrastructure "played a significant role" in Russia's invasion plan and in the Kremlin's public narratives about the conflict. Moscow's big planRussian military personnel at Ukraine's Zaporizhzhia nuclear power plant in May 2022. Although Russian forces still control the Zaporizhzhia nuclear power plant, the largest nuclear power plant in Europe, that has not won the Kremlin any leverage over Kyiv.

☆ US Special Operations Command's workhorse helicopter is getting upgrades to replace parts that are nearly 50 years old
▼ + stars: | 2023-04-27 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

US special operators rely on their variant, the MH-47, for missions at night and behind enemy lines. As such, the US special-operations community's workhorse helicopter is getting upgrades to replace parts that are nearly 50 years old. US Army Special Operations Command has used Chinooks for several decades. Early versions had modifications for special operations. The 160th Special Operations Aviation Regiment, nicknamed "the Night Stalkers," is the cream of the crop when it comes to US military aviation.

☆ Merck Keeps Striking Out on Expanding Its Cancer-Drug Juggernaut
▼ + stars: | 2023-04-26 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

Merck says it has been doing deals and developing new drugs to reduce its dependence on Keytruda for sales. Photo: David Crosling/EPA-EFE/ShutterstockThe gold rush from pioneering cancer immunotherapy Keytruda is about to run out for Merck & Co.Keytruda, one of the world’s top-selling drugs, powered its maker for the past decade. The therapy’s annual sales neared $21 billion last year, about a third of Merck’s revenue. Yet a drop in sales looms after Keytruda’s main patent expires in 2028.

☆ Bristol-Myers CEO Giovanni Caforio to Step Down
▼ + stars: | 2023-04-26 | by ( Jared S. Hopkins | Laura Cooper | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/bristol-myers-ceo-giovanni-caforio-to-leave-drugmaker-5de94f38

☆ Russia's military has been preparing for a drone-filled battlefield, and even its cooks are being trained to shoot them down
▼ + stars: | 2023-04-26 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Counter-drone training has also become common throughout the Russian military. Having used drones and seen drones used with increasing frequency, the Russian military has also expanded its counter-drone training. The threat is now considered so widespread that most Russian troops, regardless of military specialty, are getting instruction in spotting and dealing with drones. Ukraine's military has been bolstering its drone defenses throughout the war, as shown in the Western military aid being sent to Kyiv. Despite having kinetic and electronic-warfare countermeasures to take out Russian drones, Ukraine still faces a difficult challenge.

☆ Fact-Checking the Kickoff to Biden’s Re-election Campaign
▼ + stars: | 2023-04-26 | by ( Linda Qiu | ) www.nytimes.com time to read: +1 min

Moreover, Mr. Biden’s first two years in office followed historic job losses wrought by the coronavirus pandemic in Donald J. Trump’s presidency. Mr. Biden was born in November 1942 at St. Mary’s Hospital in Scranton, Penn., according to biographies. Mr. Finnegan died at St. Mary’s Hospital, but in May 1957, when Mr. Biden was a teenager, not before he was born. What Mr. Biden Said“My first two years in office I’ve lowered the deficit by a record $1.7 trillion.”This needs context. But much of that decline can be attributed to the expiration of pandemic-era spending, according to the Committee for a Responsible Federal Budget, which presses for lower levels of spending.

Indeed, the annual Occupational Employment and Wage Statistics report appears to show the pandemic was a trend-hastening event rather than a trend disrupter. A larger share of jobs reshuffled across occupations from 2016 to 2019 than was the case between 2019 and 2022, as the economy emerged from the pandemic. The highest rates of increased wages occurred in the lowest-paying jobs after the pandemic struck. The smallest median pay increases in that span came for management occupations, where the median wage rose by just 2.6% versus 8.6% in the three years before the pandemic. Some of the big occupation gainers reflect changes driven by the pandemic and other issues, such as the growth of the non-fossil fuel energy sector.

☆ Jacinda Ardern: Former New Zealand leader is heading to Harvard
▼ + stars: | 2023-04-25 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

CNN —After stepping down as leader of New Zealand earlier this year, Jacinda Ardern has revealed that she is swapping the rough and tumble of politics for a stint of quiet reflection within academia overseas, heading to Harvard University this fall under two fellowships. She was appointed to dual fellowships at the Harvard Kennedy School, the university’s school of public policy and government, according to a news release by Harvard. Jacinda Ardern leaving New Zealand's Parliament for the last time as Prime Minister on January 25, 2023 in Wellington, New Zealand. “Jacinda Ardern showed the world strong and empathetic political leadership,” said Kennedy School Dean Douglas Elmendorf in the news release. Within a year, she had become only the second world leader to give birth in office.

☆ Wrexham: Paul Rudd films emotional moment between Ryan Reynolds and Rob McElhenney after promotion
▼ + stars: | 2023-04-24 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

It was an emotional moment captured by fellow Hollywood stalwart Paul Rudd, who filmed the pair in the immediate aftermath of Saturday’s 3-1 win over Boreham Wood. After a moment to themselves, Reynolds and McElhenney then shared a long hug before the latter appeared to wipe away tears from his eyes. Footage and photographs on social media showed Rudd drinking in the local pub and meeting excited Wrexham fans ahead of Saturday’s match. Martin Rickett/PA Images/Getty ImagesMany other celebrities took to social media to congratulate Wrexham after its promotion into the Football League. Rudd appears in photographs alongside Wrexham fans in The Turf Pub ahead of Saturday's match.

☆ Ted Cruz ridiculed for saying smoking is a person's 'own damn choice' while celebrating abortion restrictions
▼ + stars: | 2023-04-24 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Republican Sen. Ted Cruz tweeted Saturday that smoking is a person's "own damn choice." Twitter pointed out Cruz's hypocrisy, noting that he is against choice when it comes to abortion. "Personally, I don't smoke cigarettes, but if you choose to do so, it's your damn choice!" "Now do uteruses," Brian Taylor Cohen, a political commentator who hosts the "No Lie with Brian Tyler Cohen" podcast, responded to the tweet. "When it comes to rape, rape is a horrific crime against the humanity of a person, and needs to be punished and punished severely," he said at the time, according to MSNBC.

☆ Alaska Airlines is getting rid of the self-serve airport kiosks that print boarding passes
▼ + stars: | 2023-04-24 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +3 min

Alaska Airlines is removing check-in kiosks as part of a $2.5 billion overhaul of its airport lobbies. Alaska Airlines has started removing kiosks to print boarding passes at airports, as part of a $ 2.5 billion investment in its passengers' "lobby experience." QR codes in airport lobbies will prompt passengers to get a boarding pass on their phones if they arrive without one, an Alaska Airlines representative told Insider. Kiosks have already been removed at nine airports: Portland International Airport in Oregon, Boise Airport, Cleveland Hopkins International Airport, Indianapolis International Airport, Harry Reid International Airport in Las Vegas, Missoula International, Ontario International, Palm Springs International, Rocky Gutierrez Airport in Sitka, Alaska. Alaska Airlines is a passengers' favorite in terms of customer satisfaction, according to a recent survey.

☆ US abortion providers relieved but wary as Supreme Court preserves pill access
▼ + stars: | 2023-04-22 | by ( Sharon Bernstein | ) www.reuters.com time to read: +4 min

April 21 (Reuters) - Abortion rights supporters expressed relief on Friday after the U.S. Supreme Court preserved access to a widely used abortion pill but warned of a long fight ahead as a legal challenge to the medication continues. Abortion providers had been stockpiling the abortion pill mifepristone or planning to switch to a new regimen amid the battle over the legality of a drug used in more than half of U.S. abortions. Several providers said late on Friday they would pause plans to change their medication abortion protocol in light of the Supreme Court's order. The Supreme Court did not rule on the merits of the case, however, meaning that mifepristone could still be restricted or banned at a later stage in the case. Several states where abortion remains legal, including California, Massachusetts and Washington, previously said they had begun stockpiling abortion drugs in advance of possible restrictions.

☆ SpaceX Starship’s explosion is not the failure it appears to be, experts say
▼ + stars: | 2023-04-22 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Rocket launches are like opening a box of chocolates, only riskier — you never know what you’re going to get. When a rocket is set to leap off the launchpad, there’s a good chance of seeing a stunning liftoff or a spectacular failure. The lead-up to this week’s launch of SpaceX’s Starship, the most powerful rocket ever built, was a dramatic roller coaster. The rocket blasted off from the launchpad in South Texas and roared 24.2 miles (39 kilometers) over the Gulf of Mexico. Now, researchers have a new theory about why the Vikings abruptly departed in the mid-15th century: rising sea levels.

At the same time, hiring remained strong through March, and wages continue growing faster than Fed officials feel is sustainable. The ECI is only released quarterly and includes both worker pay and benefits like healthcare, giving what Fed officials regard as a clearer sense of employment-related cost trends. For Fed officials, it could influence their view of whether the economy and inflation are likely to slow more - perhaps much more - quickly than anticipated. Reuters GraphicsEconomists expect the upcoming survey will show conditions tightening further still, this time alongside data showing credit from banks in decline. "Banks may not be done tightening lending standards, which will restrict access to credit, hurt business investment, reduce business formation, and weigh on job growth and consumer spending."

☆ Janet Yellen says national security may come at a cost in US-China relationship
▼ + stars: | 2023-04-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —The United States will safeguard its national security, even if it comes at an economic cost to its relationship with China, US Treasury Secretary Janet Yellen said on Thursday. The federal government will address any national security concerns through export controls, sanctions and by restricting foreign investments, Yellen said. In a speech at the Johns Hopkins School of Advanced International Studies, Yellen outlined three objectives of the US relationship with China: prioritizing national security and defending human rights, promoting a healthy and fair economic relationship with China and cooperating with China to address global issues. Yellen’s remarks come at a time when tensions with China remain high, a few months after a Chinese spy balloon flew across the continental United States. “Even though these policies may have economic impacts, they are driven by straightforward national security considerations,” said Yellen, a former Federal Reserve Chair.

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