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Strands of hair were key in the investigationStrands of hair were among the key evidence that helped investigators bring Heuermann into custody. In addition, female hair now believed to be from Heuermann’s wife was found on or near three of the victims, prosecutors allege in the bail application. On Wednesday – less than a week since Heuermann’s arrest – his wife, Asa Ellerup, filed for divorce, her attorney said. Ellerup “and her family are going through a devastating time in their lives,” a Thursday statement from her attorneys said. “The sensitive nature of her husband’s arrest is taking an emotional toll on the immediate and extended family, especially their elderly family members.”“Ms.

Persons: Rex Heuermann, Heuermann, Melissa Barthelemy, Megan Waterman, Amber Lynn Costello, Maureen Brainard, Barnes, Ray Tierney, Heuermann’s, Rodney Harrison, CNN’s Erica Hill, “, ” Harrison, –, Asa Ellerup, Ellerup “, ”, ” “, Ellerup Organizations: CNN, New York City, Suffolk County Police Locations: , New York, New York, Suffolk County, Long, Massapequa

☆ Biden asks aides for options preventing future debt limit crisis
▼ + stars: | 2023-07-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

[1/2] US President Joe Biden addresses the nation on averting default and the Bipartisan Budget Agreement, in the Oval Office of the White House in Washington, DC, June 2, 2023. JIM WATSON/Pool via REUTERS/File PhotoWASHINGTON, July 20 (Reuters) - U.S. President Joe Biden asked a group of aides to explore "all legal and policy options" to prevent another debt limit standoff, the White House said on Thursday. The group includes Treasury Secretary Janet Yellen, Attorney General Merrick Garland, White House budget director Shalanda Young and Council of Economic Advisers chair Jared Bernstein. This year's bipartisan debt ceiling deal keeps fiscal 2024 spending flat at this year's levels, allowing a 1% increase for fiscal 2025. The deal was approved by 149 House Republicans - a strong party majority - along with 165 Democrats.

Persons: Joe Biden, JIM WATSON, Kevin McCarthy, Stuart Delery, Lael Brainard, Biden, Janet Yellen, General Merrick Garland, Shalanda Young, Jared Bernstein, Laurence Tribe, Morgan Stanley, Seth Carpenter, Trevor Hunnicutt, Leslie Adler, Stephen Coates Organizations: White, WASHINGTON, Democratic, Republican, National Economic, U.S . Constitution, Economic, Harvard Law School, Republicans, Thomson Locations: Washington , DC, United States, U.S .

☆ Rex Heuermann: Gilgo Beach serial killings investigation expands to Nevada and South Carolina
▼ + stars: | 2023-07-19 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +6 min

CNN —Probes into Gilgo Beach serial killings suspect Rex Heuermann now reach across the country as investigators are examining his connections to Las Vegas and South Carolina, where the suspect has owned property. The couple has since sold the first property, the records show, and it is unclear whether they still own the second. Heuermann has pleaded not guilty in the murders of Melissa Barthelemy, Megan Waterman and Amber Costello. FBI investigators were also seen talking to neighbors in the rural South Carolina neighborhood on Tuesday. Prosecutors have detailed a trove of evidence used to connect Heuermann to at least three of the Gilgo Four killings, including credit card bills, cell phone data and DNA evidence.

Persons: Rex Heuermann, Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Heuermann’s, Steve Caston, Caston, ”, Amber Lynn Costello, “, Anthony Carter, Rodney Harrison, John Minchillo, wouldn’t, –, Ray Tierney, Brainard, Harrison Organizations: CNN, Gilgo, Police, Las Vegas Metropolitan Police Department, Heuermann, Chevy Avalanche, FBI, Police Department, Suffolk County, Prosecutors, Parkway, Craigslist, Authorities, Barnes Locations: Las Vegas and South Carolina, Las Vegas, Long, , New York, New York City, South Carolina’s Chester County, South Carolina, Megan Waterman Suffolk, Suffolk, Heuermann, Shore, Suffolk County

When the police returned two days later, they found the remains of three other women — Amber Lynn Costello, Megan Waterman and Maureen Brainard-Barnes. They were all also found bound at the feet or ankles and wrapped in burlap along a stretch of sand about a quarter mile long. Seven other bodies would be found in the months that followed, including Ms. Gilbert, four other women, a man who was never identified and a 2-year-old girl. The bodies, two of which were only partial remains, had not been bound and wrapped as those in the first group were. But that dumping, he said, has generally been the work of an organized crime group or gang.

Persons: Gilbert, Melissa Barthelemy, Amber Lynn Costello, Megan Waterman, Maureen Brainard, Fred Klein, Joel Rifkin, ”, Klein Organizations: Bronx, Barnes, Brooklyn and, Hofstra University Locations: Brooklyn, Brooklyn and New Jersey, Nassau County

☆ Biden creates new competition role on National Economic Council
▼ + stars: | 2023-07-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Summary White House readying actions in new corporate sectorsCompetition Council to have fifth meeting on WednesdayIndustry chafes at 'regulatory overreach'WASHINGTON, July 18 (Reuters) - President Joe Biden has created a new role on the National Economic Council (NEC) to tackle anticompetitive business practices, naming NEC member Hannah Garden-Monheit as Director of Competition Council Policy, the White House said on Tuesday. One may be the retail sector, which National Economic Council Director Lael Brainard singled out last October before leaving her job as Federal Reserve vice chair, arguing it had "ample room" to "recompress margins" after COVID-19 price hikes. "Institutionalizing competition policy within the National Economic Council and the White House is another critical step ... to make sure we right the wrongs of failed antitrust enforcement and competition policy enforcement for the last several decades." Columbia University Professor Timothy Wu, who led the White House antitrust push until December, said Biden's decision to create a specific role centered on the competition council reflected its importance. "Creating a White House director of competition policy is a big deal — it cements the White House role in antitrust policy and ensures a lasting impact," he said.

Persons: Joe Biden, Hannah Garden, Biden, Monheit, Lael Brainard, Morgan Harper, Timothy Wu, Andrea Shalal, Josie Kao, Matthew Lewis Organizations: Competition Council, Industry, National Economic Council, NEC, Competition, Reuters, Economic, Reserve, U.S . Chamber, Commerce, Council, Consumer Financial, Bureau, American Economic Liberties, Columbia, White, Thomson Locations: WASHINGTON, U.S, Wednesday's, Washington

☆ Biden creates new anti-competition role on National Economic Council
▼ + stars: | 2023-07-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Biden created the council as part of an executive order two years ago to crack down on anti-competitive practices in sectors from agriculture to drugs and labor, and find ways to lower prices for consumers. She said would work with Congress to curb anti-competitive practices in agriculture, while seeking new focal areas. One may be the retail sector, which National Economic Council Director Lael Brainard singled out last October before leaving her job as Federal Reserve vice chair, arguing it had "ample room" to "recompress margins" after COVID-19 price hikes. Columbia University Professor Timothy Wu, who led the White House antitrust push until December, sans the new title, said Biden's decision to create a specific role centered on the competition council reflected its importance. "Creating a White House director of competition policy is a big deal — it cements the White House role in antitrust policy and ensures a lasting impact," he said.

Persons: Joe Biden, Hannah Garden, Biden, Monheit, Lael Brainard, Timothy Wu, Andrea Shalal, Josie Kao Organizations: Competition Council, Industry, National Economic Council, NEC, Competition, Reuters, Economic, Reserve, U.S . Chamber, Commerce, Council, Columbia University, White, FDR, Thomson Locations: WASHINGTON, U.S, Wednesday's, Washington

☆ Biden meets labor organizers from Starbucks, Minor League Baseball
▼ + stars: | 2023-07-18 | by ( Nandita Bose | ) www.reuters.com time to read: +2 min

WASHINGTON, July 17 (Reuters) - President Joe Biden and Senator Bernie Sanders met with young labor organizers from Starbucks and Minor League Baseball among others at the White House on Monday as a growing number of worker strikes grip the country. In a tweet on Monday night, Biden said he and Sanders met with young labor leaders to discuss their fight for better pay and benefits. And organizing or joining a union - that's democracy in action," Biden tweeted. Administration officials in Monday's meeting included Acting Secretary of Labor Julie Su, White House National Economic Council Director Lael Brainard, and White House Director of Governmental Affairs Tom Perez, the official said. Biden, who is often referred to as the most pro-union president in U.S. history by labor leaders, had a similar meeting with union activists from Amazon and Starbucks at the White House last year.

Persons: Joe Biden, Bernie Sanders, Biden, Sanders, Karine Jean, Pierre, Labor Julie Su, Lael Brainard, Tom Perez, Nandita Bose, Sonali Paul Organizations: Starbucks, Minor League Baseball, White, Apple, House Press, Labor, National Economic, Governmental, Amazon, Thomson Locations: U.S, dockworkers, Washington

Authorities have said the suspect, Rex Heuermann, obsessively followed the case of the “Gilgo Four,” a group of four women whose remains were uncovered more than a decade ago near Long Island’s Gilgo Beach. The source said one such object includes a doll found in the house but not in the children’s rooms. Though prosecutors have said Heuermann is the prime suspect in the fourth killing of Brainard-Barnes, he has yet to be charged in the case. Among the hundreds of firearms found hidden in Heuermann’s home were pistols, revolvers and semi-automatic rifles, a source said. Three of the women – Costello, Waterman and Brainard-Barnes – worked as escorts and Barthelemy was a sex worker, according to police.

Persons: Rodney Harrison, Rex Heuermann, Harrison, Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Brainard, Ray Tierney, Anthony Carter, ”, Carter, “, ” Carter, ” Heuermann, Tierney, ” Tierney, Amber Lynn Costello, – Costello, Waterman, Barnes –, Barthelemy, Costello Organizations: CNN, Police, Authorities, Investigators, Police Department, Craigslist, Suffolk County Locations: Suffolk, Barnes , Suffolk County, Long, Shore, Heuermann, Manhattan, Megan Waterman Suffolk, New York City, Hauppauge

☆ Biden to meet labor organizers from Starbucks, Minor League Baseball
▼ + stars: | 2023-07-17 | by ( Nandita Bose | ) www.reuters.com time to read: +1 min

WASHINGTON, July 17 (Reuters) - President Joe Biden and Senator Bernie Sanders will meet young labor organizers from Starbucks and Minor League Baseball among others at the White House on Monday as a growing number of worker strikes grip the country. Biden and Senator Sanders, who chairs a committee on labor issues, are expected to congratulate organizers for the work they have done and discuss the president's "belief that worker power is essential to growing the economy from the middle out and bottom up," White House Press Secretary Karine Jean-Pierre said. Administration officials in Monday's meeting include Acting Secretary of Labor Julie Su, White House National Economic Council Director Lael Brainard, and White House Director of Governmental Affairs Tom Perez, the official said. Biden, who is often referred to as the most pro-union president in the history of the United States by labor leaders, had a similar meeting with union activists from Amazon and Starbucks at the White House last year. Reporting by Nandita Bose in Washington; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Bernie Sanders, Biden, Sanders, Karine Jean, Pierre, Labor Julie Su, Lael Brainard, Tom Perez, Nandita Bose, Sonali Paul Organizations: Starbucks, Minor League Baseball, White, Apple, House Press, Administration, Labor, National Economic, Governmental, Amazon, Thomson Locations: U.S, dockworkers, United States, Washington

WASHINGTON, July 17 (Reuters) - U.S. chip company executives met with top Biden administration officials on Monday to discuss China policy, the State Department and sources said, as the most powerful semiconductor lobby group urged a halt to more curbs under consideration. Secretary of State Antony Blinken talked with chip company chief executives about the industry and supply chains after his recent trip to China, a department spokesperson told reporters. The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. Last year, China accounted for $180 billion in semiconductor purchases, more than a third the worldwide total of $555.9 billion and the largest single market, according to Semiconductor Industry Association (SIA). The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Blinken, Matthew Miller, Commerce's Raimondo, Washington, hobble, Pat Gelsinger, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Chris Sanders, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, State Department, National Economic, National Security, Intel, Qualcomm, Nvidia, Reuters, Semiconductor Industry Association, SIA, Department, White, Commerce Department, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, San Francisco

The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment. Not every official is expected to meet with every company, the source who spoke on condition of anonymity added. Further rule-tightening by U.S. officials risks "disrupting supply chains, causing significant market uncertainty, and prompting continued escalatory retaliation by China," the industry group said. "The availability of Gaudi2 in China continues Intel’s nearly 40-year history of delivering innovative yet legally-compliant products to this key growth market," Intel said in a statement.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Matthew Miller, chafed, hobble, Blinken, Pat Gelsinger, Raimondo, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, National Economic, National Security, Intel, Qualcomm, Nvidia, Semiconductor Industry Association, SIA, Department, Administration, White, Reuters, Commerce Department, U.S, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, Intel’s, San Francisco

☆ Biden administration holding meetings with chips companies, source says
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, July 17 (Reuters) - The chief executives of U.S. chip companies are holding meetings with Commerce Secretary Gina Raimondo and key White House officials Monday as they discuss China policy, a source told Reuters. On Friday, Reuters reported the chief executives of Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) were planning to visit Washington this week, according to two sources familiar with the matter. The source told Reuters Monday the companies are having separate meetings with Raimondo, National Economic Council director Lael Brainard, and National Security Council director Jake Sullivan. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Gina Raimondo, Raimondo, Lael Brainard, Jake Sullivan, David Shepardson Organizations: White, Reuters, Intel Corp, Qualcomm Inc, National Economic, National Security, Thomson Locations: China, Washington

☆ Gilgo Beach serial killings: A flood of evidence and information has come in since suspect's arrest, DA says
▼ + stars: | 2023-07-17 | by ( Polo Sandoval Samantha Beech Elizabeth Wolfe Lauren Mascarenhas | Polo Sandoval | Samantha Beech | ) edition.cnn.com time to read: +8 min

CNN —Authorities have received a flood of evidence and information related to the suspect charged in some of the Gilgo Beach killings since his arrest, the Suffolk County District Attorney told CNN on Monday. Authorities have had Heuermann on their radar for more than a year as investigators gathered enough evidence to make an arrest. The suspect’s wife and children are cooperating with the investigation, according to Carter. Authorities later said they believed Gilbert’s death may have been accidental and unrelated to the Gilgo Beach homicides. “We’re going to continue to work this case and work the entire Gilgo investigation,” Carter said.

Persons: ” Ray Tierney, Rex Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, “ We’re, ” Tierney, “, Tierney, Heuermann, Carter, piecing, Amber Lynn Costello, Police Department “, ”, ” Carter, Shannan Gilbert, surveil, Heuermann’s, Tsoierney, suspect’s, AP Carter, James Carbone, Brainard, Jessica Taylor, Shannan Gilbert –, “ They’ve Organizations: CNN — Authorities, Attorney, CNN, Police Department, Authorities, Shore, Investigators, New, Sheriff's, Suffolk County Sheriff's, AP, RH, & Associates Locations: Suffolk County, Shore, Heuermann, Megan Waterman Suffolk, Gilgo Beach, New York City, Manhattan, Suffolk, Massapequa, Oak Beach , New York, Shannan

☆ Gilgo Beach murders: Years in the making, evidence leads investigators to Rex Heuermann
▼ + stars: | 2023-07-16 | by ( Ray Sanchez | ) edition.cnn.com time to read: +11 min

Rex Heuermann in booking image from the Suffolk County Sheriff's Office. Suffolk County Sheriff's Office/APHeuermann is charged with three counts of first-degree murder for the killings of Melissa Barthelemy in 2009, and Megan Waterman and Amber Costello the following year, according to the Suffolk County District Attorney. His father had built satellites for a living, Heuermann told the interviewer. They first connected him to the killings last year while conducting a review of evidence under a newly formed task force, which included the Suffolk County Police Department, the Suffolk County Sheriff’s Office, the New York State Police and the FBI. Speaking of the arrest, Suffolk County Police Commissioner Rodney Harrison said Friday: “Rex Heuermann is a demon that walks among us.

Persons: Rex Heuermann, John F, he’s, Heuermann, ”, Kathy Hochul, “, –, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Amber Lynn Costello, Michael Brown, ” Heuermann, it’s, Barthelemy, selfies “, hank, Tierney, Heuermann’s, Investigators, ” Tierney, Shannan Gilbert, Gilbert, Brainard, Waterman, Rodney Harrison, “ Rex Heuermann Organizations: CNN, Catholic Charities, American Airlines, Kennedy International Airport, WABC, ” New York Gov, Netflix, Sheriff's, Suffolk County Sheriff's, Attorney, Police Department, Associates, Heuermann, Suffolk County Police Department, Sheriff’s Office, New York State Police, FBI, Avalanche, Authorities, Suffolk County, Craigslist, Suffolk County Police Locations: Manhattan, Shore, Long, Suffolk, Suffolk County, Megan Waterman Suffolk, homey, Massapequa, Nassau County, Heuermann, New York City, Heuermann’s, Gilgo, Oak Beach, Gilgo Beach, Hauppauge

☆ Gilgo Beach murders: Killings of 3 women in New York went unsolved for more than a decade. Here's how authorities tracked down the suspect
▼ + stars: | 2023-07-15 | by ( Aya Elamroussi Samantha Beech | Aya Elamroussi | Samantha Beech | ) edition.cnn.com time to read: +8 min

Heuermann has not been charged in the case, but the investigation “is expected to be resolved soon,” the document states. I can only imagine what you’ve had to endure over the last decade regarding knowing that your killer was still loose. “For each of the murders, he got an individual burner phone, and he used that to communicate with the victims. By mid-March, Heuermann’s name showed up on authorities’ radar after a New York state investigator identified him in a database, according to Tierney. The victims’ remains “were out in a tough environment for a prolonged period of time.

Persons: –, Rex Heuermann, ”, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Heuermann, “ Rex Heuermann, Rodney Harrison, “, ” Harrison, Shannan Gilbert, Ray Tierney, Harrison, Heuermann’s, Tierney, Kevin P Coughlin, ” Tierney, CNN’s Anderson Cooper, Amber Lynn Costello, Gilbert Organizations: CNN, Police, New, Technology, Suffolk County Crime Laboratory, FBI, Police Department, Authorities Locations: Long Island , New York, New York City, Suffolk County, Suffolk, Gilgo, Manhattan, Long Island, New York, Oak Beach , New York, Megan Waterman Suffolk

“After hearing about this case for so many years, it’s a shock to find out that your neighbor is a serial killer and you never knew it,” a neighbor, Cheryl Lombardi, said. The killings terrorized residents for more than a decade as body after body was discovered in the remote area about 40 miles from Midtown. In all, remains of nine women, a man and a toddler were discovered in the area. She disappeared during an escort job in Oak Beach, a gated community three miles from Gilgo Beach. Ms. Gilbert’s remains were found in December 2011, but investigators have said they do not believe her death is linked to the serial killer.

Persons: Cheryl Lombardi, Shannan Gilbert, Gilbert, Amber Lynn Costello, Maureen Brainard, Barnes, Megan Waterman, Melissa Barthelemy, Valerie Mack, Gilbert’s Locations: Midtown, Jersey City, N.J, Long, Oak Beach, Gilgo Beach, Suffolk County, New Jersey

☆ What We Know About the Gilgo Beach Victims
▼ + stars: | 2023-07-14 | by ( Hurubie Meko | ) www.nytimes.com time to read: 1 min

The three women that Rex Heuermann is accused of killing — Melissa Barthelemy, Megan Waterman and Amber Lynn Costello — were discovered wrapped in burlap near Gilgo Beach on Long Island’s South Shore in December 2010. A fourth woman, Maureen Brainard-Barnes, was found in the same spot, alongside the other victims, and Mr. Heuermann is also the prime suspect her death, according to the bail application from the Suffolk County District attorney’s office on Friday. The investigation into her death “is continuing and is expected to be resolved soon,” the prosecutors wrote. Mr. Heuermann, an architect who has lived most of his life in Nassau County and worked in Manhattan, on Friday pleaded not guilty to murder in the case of the first three victims and was ordered held without bail.

Persons: Rex Heuermann, — Melissa Barthelemy, Megan Waterman, Amber Lynn Costello —, Maureen Brainard, Barnes, Heuermann, “ Organizations: Suffolk County District Locations: Gilgo Beach, Long, Shore, Suffolk County, Nassau County, Manhattan

He was expected to be arraigned Friday after his arrest Thursday night in Manhattan, said Suffolk County Police Commissioner Rodney K. Harrison. "We anticipate an indictment later on this afternoon," said Harrison, whose agency and the Suffolk County district attorney are leading the investigation. According to NBC New York, Gilbert was not the only victim who was a sex worker. In May 2022, Suffolk County police released 911 audio related to Gilbert's disappearance. The development comes after a multi-agency task force made up of FBI, New York State Police and Suffolk County authorities was established in February 2022 to "reinvigorate" the investigation.

Persons: Rex Heuermann, Rodney K, Harrison, Shannan Gilbert, Sherre Gilbert, I'm, Rex, Steve Bellone, Emma Tang, Melissa Barthelemy, Megan Waterman, Amber Lynn Costello, Maureen Brainard, Jessica Taylor, Taylor, Valerie Mack, Mack, Gilbert, Joseph Brewer, Gilbert didn't, Michael Pak, Mike, Brewer, Pak, let's Organizations: Suffolk County Police, NBC News, Attorney's, News, NBC, FBI, New York State Police Locations: Long, Massapequa, N.Y, Manhattan, Suffolk County, New York City, Nassau County, Suffolk, Gilbert, New Jersey, Oak Beach, Barnes, Manorville, Gilbert's, NBC New York

☆ Inflation fever is finally breaking. The Fed’s soft landing may be in sight
▼ + stars: | 2023-07-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But I can’t help imagine him quietly fist-pumping the moment he got wind of the latest inflation data. For context, a year ago the CPI peaked at 9.1% — the worst inflation in more than 40 years. After a punishing stretch of rising prices, “the fever is breaking,” wrote Bill Adams, chief economist for Comerica Bank. In other words, the Fed may actually pull off the “soft landing” — lowering inflation without tanking the economy — that few believed was doable even six months ago. “The odds of achieving a soft landing just went up drastically,” Dan Alpert, managing director of Westwood Capital, told me.

Persons: CNN Business ’, Jerome Powell, he’d, Jay won’t, ”, Bill Adams, Jay Powell, “ We’ve, Lael Brainard, Joe Biden’s, “, Brainard, hadn’t, ” Dan Alpert, “ I’m, Jamie Dimon, you’ll Organizations: CNN Business, New York CNN, Consumer, Comerica Bank, Fed, Westwood Capital, JPMorgan Chase Locations: New York

That could help lower overall inflation when the next CPI report is released on Aug. 10, with the details in Wednesday's report suggesting "downside risks" to any forecast of July's inflation rate. Indeed, at least one Fed official on Wednesday stuck to policymakers' prevailing hawkish mantra that inflation is still too high. While not specifically addressing the CPI report, Richmond Fed President Thomas Barkin told a Maryland business group that he still felt inflation had "been stubbornly persistent." 'FINAL INNINGS'But the latest CPI data could undercut arguments for yet another rate increase beyond the July meeting. Fed officials, blindsided by the persistence of inflation they initially thought would dissipate on its own, have been reluctant to bank on good news continuing.

Persons: Omair Sharif, Rick Rieder, Lael Brainard, Brainard, Thomas Barkin, Goldman Sachs, they've, Raphael Bostic, Bostic, Howard Schneider, Michael S, Ann Saphir, Dan Burns, Paul Simao Organizations: Federal Reserve, U.S . Labor Department, Reuters Graphics Reuters, BlackRock, Fed, White, Economic Council, Economic, of New, Richmond Fed, U.S, Cleveland Fed's Center, Inflation Research, Atlanta Fed, Derby, Thomson Locations: U.S, of New York, Maryland

☆ White House takes a victory lap after inflation report comes in cooler than expected
▼ + stars: | 2023-07-12 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

WASHINGTON — President Joe Biden on Wednesday celebrated new data that showed inflation cooling more quickly than expected. "Good jobs and lower costs: That's Bidenomics in action," Biden said in a statement. Year over year, inflation rose 3%, the lowest level in more than two years. Core CPI, which does not include food and energy costs, rose 4.8% from a year ago and 0.2% on a monthly basis. "Our progress creating jobs while lowering costs for families is no accident, and I will continue to fight for lower costs for families every day."

Persons: Joe Biden, Volodymyr Zelensky, Biden, Lael Brainard, " Brainard Organizations: NATO, WASHINGTON, Wednesday, Labor Statistics, CPI, Economic, of New Locations: Vilnius, of New York, U.S, United States

☆ Biden's Federal Reserve Board nominees clear key Senate committee
▼ + stars: | 2023-07-12 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — The Senate Banking Committee approved President Joe Biden's three nominees to the Federal Reserve Board of Governors on Wednesday, teeing up a vote in the full Senate later this year. The committee unanimously approved Philip Jefferson as Biden's nominee for vice chair of the Federal Reserve. Lisa Cook, who Biden has nominated for a full, 14-year term on the Federal Reserve Board, was approved 13-10 by the panel. The third nominee the committee advanced was Adriana Kugler, whom Biden tapped in May to join the Federal Reserve Board of Governors for the first time. Jefferson would be only the second Black person to hold the vice chair position in the history of the Fed board.

Persons: Philip Jefferson, WASHINGTON —, Joe Biden's, teeing, Jefferson, Lael Brainard, Lisa Cook, Biden, Cook, Adriana Kugler, Kugler, South Dakota Republican Sen, Mike Rounds Organizations: Federal, Capitol, WASHINGTON, Federal Reserve, Governors, Fed, National Economic, Federal Reserve Board, South Dakota Republican, World Bank, World Bank Group, U.S, American, Fed's, of Governors Locations: Washington , U.S

☆ The US economy is defying expectations, says Biden’s top economic adviser
▼ + stars: | 2023-07-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The resiliency of the US economy is defying expectations — and the odds of a “soft landing” are improving, said Lael Brainard, President Joe Biden’s top economic adviser, on Wednesday afternoon. “We’ve seen these repeated predictions that recession is right around the corner — and the data have instead delivered continued resilience in the economy,” said Brainard, formerly No. That’s the president’s economic theory that rejects the idea of “trickle-down” policies in favor of focusing on the middle class. These economic gains did not happen by chance, and they will not be sustained absent a deliberate strategy,” she said. “President Biden’s economic strategy aims to grow the economy from the middle out and bottom up — not the top down.”

Persons: Lael Brainard, Joe Biden’s, Biden, ”, Brainard, “, “ We’ve, Bidenomics Brainard Organizations: New, New York CNN, Labor Department, National Economic Council, Economic, of New, Federal Reserve Locations: New York, of New York

☆ US inflation cooled in June for the 12th straight month
▼ + stars: | 2023-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

US annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics. The June annual rate is down from 4% in May and landed slightly below economists’ expectations for a 3.1% increase, according to Refinitiv. Starting in March 2022, the central bank rolled out 10 consecutive interest rate hikes to tame inflation, finally hitting pause last month. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs. So the Fed and economists have been keyed in on what’s happening with core inflation, particularly core services.

Persons: Olivia Newton, ” William Ferguson, “, Joe Biden, ” Sung Won Sohn, Lael Brainard, ” Brainard, Brainard, ” Julia Pollak, ZipRecruiter, Sohn, ”, —, Nicole Goodkind Organizations: Minneapolis CNN, Bureau of Labor Statistics, CPI, Grinnell College, CNN, Federal Reserve, Loyola Marymount University, SS Economics, Core PCE, National Economic Council, Economic, of New, BLS, Kansas City Fed Locations: Minneapolis, Iowa, of New York

☆ Will inflation come down this year? Investors seek clues in corporate results
▼ + stars: | 2023-07-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It’s not just in the United States, either. Coming up: Two major measures of inflation in the United States are out this week — the Consumer Price Index on Wednesday and Producer Price Index on Thursday. On Friday morning, earnings reports for the second quarter kick off with JPMorgan Chase, Wells Fargo, Citi and BlackRock all reporting. Her Many Horses joined Wells Fargo in 2018 as senior vice president in middle market banking to focus on rebuilding the bank’s Native American banking effort. Wells Fargo Native American Banking is the leading provider of capital and financial services to Native American and Alaska Native markets, according to a statement from the company.

Persons: they’re, Jerome Powell, Christine Lagarde, ”, Albert Edwards, Edwards, it’s, Lael Brainard, Price, Michael Barr, Barr, ” Barr, Elisabeth Buchwald, Wells Fargo, Dawson, “ Dawson, Ruth Jacks, Wells Organizations: New, New York CNN, Federal, Kansas City Fed, Monetary Fund, European Central Bank, Societe, National Economic Council, JPMorgan Chase, Citi, BlackRock, Rosebud Sioux, Wells, Wells Fargo Commercial Banking, American Banking Locations: New York, United States, Wells Fargo, Wells, Dawson, Rosebud, South Dakota, American, Alaska

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