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That is more than double the 2.1% recorded in the second quarter and a testament to the strength of consumers. But he warned that stronger than expected economic data, particularly as regards the labor market, could leave the door open to even more pressure to raise rates or keep them higher for longer. "Additional evidence of persistently above-trend growth, or that tightness in the labor market is no longer easing, could put further progress on inflation at risk and could warrant further tightening of monetary policy." Complicating matters is that the post-pandemic economy has not gone according to script where higher interest rates almost always blunt economic activity and cause a marked slowdown in the labor market. “The labor market is still adjusting, if it ever does, there’s a question whether retail will ever recover completely,” he says.

Persons: ” Sam Bullard, Wells, Jerome Powell, Powell, ”, George Calhoun, Calhoun, Bill Adams, –, speakership Organizations: Federal, Economic, of New, Stevens Institute of Technology, University of, Comerica, “ Locations: U.S, of New York, Washington, Israel

☆ These are the House Republicans running for speaker
▼ + stars: | 2023-10-22 | by ( Jack Forrest | ) edition.cnn.com time to read: +8 min

CNN —The high-stakes race for House speaker enters a new phase this week, with a slate of new candidates vying for the gavel following Rep. Jim Jordan’s exit from the race. The former National Republican Congressional Committee chairman was first elected to Congress in 2014 and became majority whip earlier this year. Bergman is a member of the House Armed Services Committee where he chairs the Intelligence and Special Operations Subcommittee. Scott, who represents Georgia’s 8th Congressional District, serves on the House Permanent Select Committee on Intelligence, the House Armed Services Committee and the House Agriculture Committee. Johnson sits on the House Judiciary Committee, Select Committee on the Weaponization of the Federal Government and on the House Armed Services Committee.

Persons: Jim Jordan’s, Kevin McCarthy, Tom Emmer Emmer, ” McCarthy, “ He’s, Tom, ”, ” Emmer, Donald Trump, Emmer, Kevin Hern The, Hern, McCarthy, Jack Bergman Bergman, –, Bergman, Austin Scott The, Austin Scott The Georgia Republican –, Scott, Byron Donalds The, ” Donalds, Francis Rooney, Donalds, Mike Johnson The, ” Johnson, Johnson, Pete Sessions, Colin Allred, Sessions, Trump, Rudy Giuliani, Ukraine –, Dan Meuser, Elise Stefanik, Meuser, Tom Corbett, Gary Palmer Palmer, Palmer, Steve Scalise Organizations: CNN, Republicans, GOP, Minnesota Republican, Press, Caucus, National Republican, Minnesota, Financial Services, Rep, Kevin Hern The Oklahoma Republican, Republican, Committee, McDonalds, Small Business, US Marines, Michigan’s, House Armed, Austin Scott The Georgia Republican, Jordan, California Republican, University of Georgia, Congressional, Intelligence, House Armed Services Committee, Agriculture, Byron Donalds The Florida Republican, Freedom Caucus, GOP Rep, Florida’s, Florida State University, Mike Johnson The Louisiana Republican, House Republican, House GOP, Federal Government, Pete Sessions Sessions, Texas, ”, Sessions, Trump, Pennsylvania Republican, Gov, Alabama’s, Energy, Commerce Locations: Michigan, Austin Scott The Georgia, Ohio, California, Georgia, Florida, Mike Johnson The Louisiana, House, Dallas, Waco , Texas, Ukraine, Pennsylvania, Alabama

☆ Welcome to the revenge of the Republicans you've never heard of before
▼ + stars: | 2023-10-19 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

Rep. Jim Jordan's speakership bid has been thwarted — for now. Call it the revenge of the Republicans you've never heard of — the ones who aren't regularly featured on Fox News, who don't have massive social media followings, and who aren't known for styling themselves as right-wing crusaders. If Jordan's speakership bid ultimately fails, it will signify a stunning turnaround for a party that's been in thrall to its loudest voices since the ascent of Donald Trump in 2015. AdvertisementAdvertisement81 House Republicans — more than a third of the conference — voted for him anyway. 20 House Republicans voted against him on Tuesday, 22 voted against him on Wednesday, and even more were expected to vote against him on a potential third vote.

Persons: Jim Jordan's speakership, —, Kevin McCarthy's, Matt Gaetz, Gaetz's, Jim Jordan, Republican holdouts, Republicans you've, aren't, McCarthy, Gaetz, Pro Tempore Patrick McHenry —, Jordan's, that's, thrall, Donald Trump, Austin Scott, Austin Scott of, Jordan, Scott, Republican who's, Steve Scalise's, Scalise, underscoring, Lauren Boebert, wasn't, Republicans —, — Gaetz, Chip Roy, Paul Gosar of, Kay Granger, Republicans who’s, Anna Moneymaker, Anthony D'Esposito, Steve Womack, who's, Sean Hannity, they've, Jordan hasn't, Austin Scott's, Jack Bergman, Tom Williams, Jack Bergman —, General Bergman, James Hogge, Dan Meuser Organizations: Republicans, Service, Rep, —, Republican, Fox News, Ohio Republican, Pro Tempore, North Carolina —, GOP, Democrat, Georgia Republican, Freedom Caucus, New York Republicans, Republican Governance Group, Trump, Images Locations: Florida, Ohio, North Carolina, Austin Scott of Georgia, Colorado, Boebert, Texas, Paul Gosar of Arizona, Kay Granger of Texas, Arkansas, @RepKayGranger, Pennsylvania

☆ US retail sales rose in September for the sixth-straight month
▼ + stars: | 2023-10-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Retail sales, which are adjusted for seasonality but not inflation, grew 0.7% in September from the prior month. Factoring in September’s 0.4% rise in consumer prices, inflation-adjusted retail sales were up 0.3% last month. From a year earlier, retail sales and food services spending were up 3.8% in September, the strongest annual gain since February. Spending grew across most categories last month, with sales at specialty stores advancing the most, by 3%. Excluding sales at gasoline stations, retail sales still advanced 0.7% last month.

Persons: ”, BIll Adams, ’, Adams, US Energy Information Administration “, Liz Ann Sonders, Charles Schwab, Brian Field, Gregory Daco, ” Daco, Joe Biden, Jordan Organizations: DC CNN, Comerica Bank, headwinds, UAW, United Auto Workers, US Energy Information Administration, Hamas, University of, San Francisco Fed, “ Retail, CNN, Employers, Sensormatic Solutions, Services, OPEC Locations: Washington, Israel, Iran

☆ Trump dominates GOP money race, DeSantis spends heavily, George Santos goes negative: Takeaways from new campaign finance reports
▼ + stars: | 2023-10-16 | by ( Fredreka Schouten David Wright Alex Leeds Matthews | Fredreka Schouten | David Wright | ) edition.cnn.com time to read: +15 min

Eyes on the SenateCalifornia hosts a high-profile 2024 Senate race, as a crowded field vies to succeed the late Democratic Sen. Dianne Feinstein. Porter’s report showed her campaign collected $3.4 million and had amassed nearly $12 million in cash on hand by September 30. One of Sinema’s top challengers, Democratic Rep. Ruben Gallego, had a strong fundraising quarter by contrast. And in Pennsylvania, Democratic Sen. Bob Casey raised $3.2 million and had nearly $7.4 million on hand for another top race. Kim outraises MenendezFederal prosecutors last month lodged bribery-related charges against Democratic Sen. Bob Menendez of New Jersey, just days before the end of the fundraising quarter.

Persons: Donald Trump, Ron DeSantis, Mike Pence, South Carolina Sen, Tim Scott, Scott, DeSantis, meanwhile, Trump’s, Haley, Christie, Nikki Haley’s, Haley’s, Chris Christie, Democratic Sen, Dianne Feinstein, Adam Schiff, Schiff, Katie Porter, Barbara Lee, Porter’s, Lee, Sen, Laphonza Butler, Gavin Newsom, Kyrsten Sinema, Sinema, hasn’t, Ruben Gallego, Gallego, Kari Lake, Pinal County Sheriff Mark Lamb, West Virginia Sen, Joe Manchin, Jim Justice, Alex Mooney, Matt Dolan, Bernie Moreno –, Sherrod Brown, Dolan, Moreno, Brown, Tammy Baldwin, Jacky Rosen, Sam Brown, Debbie Stabenow’s, Elissa Slotkin, Slotkin, Hill Harper, Bob Casey, Republican Dave McCormick, McCormick, Kim outraises Menendez, Bob Menendez, Menendez, Andy Kim, Kim, George Santos, Santos, –, Amy Walter, Curtis Hertel, Robert F, Kennedy Jr, Kennedy, Gavin de Becker, Trump Organizations: CNN, White, Florida Gov, White House, Trump, N2024D, GOP, PAC, South Carolina Gov, Former New Jersey Gov, Senate California, Democratic, Los, Democratic Gov, Democratic Party, Senate, Democratic Rep, Arizona Republicans, Pinal County Sheriff, West, Cleveland Guardians MLB, Republican, Bob Menendez of New, Republicans, Congressional District, RFK Jr, Associates Locations: Florida, Trump, South Carolina, Iowa, New Hampshire, Los Angeles, Arizona, Pinal County, Ohio, Cleveland, Wisconsin, Nevada, Michigan, Pennsylvania, Bob Menendez of, Bob Menendez of New Jersey, York, Long, Michigan’s, Democratic, California

With two wars, a rising price of oil and a shaky bond market, there is plenty of worry for the markets and economists this week, including a slew of corporate earnings reports and data on the state of the housing market and retail spending. Meanwhile, Russia has been pressing its invasion of Ukraine that is now a year and a half old. Last week ended with a surprise increase in consumer’s expectations of inflation in the University of Michigan’s sentiment survey. Where new home construction a few months ago was holding up the housing market, now it has slumped amid mortgage rates that have brushed 8%. The firm published its monthly economic outlook last week and did not include any more Fed rate hikes in the current cycle.

Persons: “, Jerome Powell, Powell, ” Sam Bullard Organizations: Hamas, University of, “, BCA Research, ”, National Association of Home Builders, Federal Reserve Bank of Atlanta, National Association of Realtors, Economic, of New, Wells Locations: East, Ukraine, Gaza, Israel, Palestinian, U.S, Iran, Lebanon, Russia, of New York

☆ New Orleans saltwater: The toxic reason saltwater intrusion would be a catastrophe for New Orleans
▼ + stars: | 2023-10-15 | by ( Ella Nilsen | ) edition.cnn.com time to read: +9 min

But it’s a looming catastrophe for New Orleans, where officials estimate that tens of thousands of the city’s water pipes are made of lead. Many residents aren’t even aware they have lead pipes supplying their drinking water, said Jessica Dandridge, executive director of the Water Collaborative of Greater New Orleans. Dandridge’s organization works both on water quality issues around the city’s lead pipes and stormwater management and flood control, and they are one of BlueConduit’s local partners working to map the pipes. As a result, lead drinking pipes are all over the country; some national estimates say the total number of pipes is around 9.2 million. It’s “almost a sleuthing or detective (work), trying to find out where the pipes are and where they go,” New Orleans City Councilmember JP Morrell told CNN.

Persons: it’s, Chris Granger, don’t, ” Eric Schwartz, Jessica Dandridge, “, Danielle Land, ”, Land, Dandridge, ” Dandridge, Biden, It’s, JP Morrell, Adrienne Katner, Justin Sullivan, ” Schwartz, BlueConduit’s, ” Grace Birch, “ It’s, Jeffrey Thomas, ” Thomas, “ There’s, we’re Organizations: CNN, Army Corps, Engineers, US Centers for Disease Control, US Army Corps of Engineers, The Times, New, University of Michigan’s, Michigan State University, Hurricane, city’s, Water Board, ” New, ” New Orleans City, Louisiana State University Health Sciences Center New, Army Corp, Biden Locations: Mississippi, New Orleans, Gulf, Mexico, “ New Orleans, Plaquemines Parish, Plaquemines, ”, ” New Orleans, Louisiana State University Health Sciences Center New Orleans, Louisiana

WASHINGTON (AP) — Last year, a teenager in a small Michigan town killed himself after an online chat turned to demands that he pay money to keep intimate photos secret. He was one of dozens of people targeted online by two men extradited from Nigeria to face charges, FBI director Christopher Wray said Saturday. The arrests came after the FBI joined with police in Michigan to investigate the death of 17-year-old Jordan DeMay, one thousands of American teenagers targeted in a sharp rise in online “sextortion” cases in recent years. He was preparing to go a trip to Florida with his father the night before his death, she said. HIs family has since spoken out about his death, urging other parents to talk with their kids about “sextortion” schemes.

Persons: Christopher Wray, Jordan DeMay, “, ” Wray, Wray, DeMay, Samuel Ogoshi, Samson Ogoshi, Samuel Ogoshi's, Samson Ogoshi's, Jennifer Buta Organizations: WASHINGTON, —, FBI, Associated Press, International Association of Chiefs, Police, U.S Locations: Michigan, Nigeria, U.S, Jordan, Upper, Marquette County, Lagos, Ivory Coast, Florida

☆ Americans are becoming more worried about inflation after resumption of student loans
▼ + stars: | 2023-10-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Persistently high inflation took a toll on Americans’ attitudes this month as many began to pay back student loans following a three-year hiatus. The University of Michigan’s consumer sentiment index fell 7% in October from the prior month, according to a preliminary reading released Friday. October marks the first month of Americans paying back their student loans since the pandemic-related pause. The pause gave relief to more than 43 million Americans who have student loans, with the vast majority owing less than $40,000 and nearly one-third owing less than $10,000. Expectations can worsen, the longer inflation remains elevated, so the upward pressure from higher gas prices on headline inflation can make Americans more pessimistic about inflation.

Persons: DC CNN —, ”, Joanne Hsu, “ Organizations: DC CNN, University of, Consumers, Federal Reserve Locations: Washington, Wells Fargo

BEAVER ISLAND, Mich. (AP) — A pilot's error during landing caused a 2021 plane crash that killed four people on a Michigan island, federal investigators concluded. The National Transportation Safety Board, which investigated the Nov. 13, 2021 crash on Beaver Island, said in a report released Thursday that the pilot lost control during landing and crashed 300 feet (91 meters) from the airport's runway. While approaching the airport, the plane was observed flying slowly and “‘wallowing’ as if nobody was flying,” the report said. The pilot and three others were killed in the crash; a young girl survived. The pilot was flying for Island Airways, which takes travelers between Beaver Island in northern Lake Michigan and Michigan’s northern Lower Peninsula.

Organizations: National Transportation Safety Board, NTSB, Island Airways Locations: BEAVER, Mich, Michigan, Beaver, Lake Michigan, Lower

WASHINGTON (AP) — The U.S. government appears poised to order a recall of millions of air bag inflators due to a manufacturing flaw that could send metal shrapnel rocketing through a car's interior. Instead of releasing pressurized gas to inflate the air bag, the canister essentially explodes, sending metal shrapnel into the vehicle at head height. He said the government would be setting a dangerous precedent by targeting a parts supplier rather than a vehicle manufacturer in ordering a recall. The hearing also featured emotional testimony from Jacob Tarvis, whose mother, Marlene Beaudoin, died as a result of an exploding air bag inflator in 2021. “GM will continue to work collaboratively with NHTSA, other manufacturers, and ARC to monitor and investigate the long-term performance and safety of ARC airbag inflators," the statement said.

Persons: inflators, ” Bruce York, Sharon Yukevich, ”, Steve Gold, Gold, Jacob Tarvis, Marlene Beaudoin, Beaudoin, Tarvis, “, Tom Krisher Organizations: WASHINGTON, Traffic Safety Administration, ARC Automotive Inc, ARC, NHTSA's, NHTSA, Motors, GM Locations: U.S, Knoxville , Tennessee, United States, Canada, Detroit

☆ Government shutdown, labor strikes will likely weigh on US consumers’ attitudes
▼ + stars: | 2023-09-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans are taking notice of a possible government shutdown and the uncertainty of ongoing labor strikes, according to the University of Michigan’s latest consumer sentiment survey. The university’s Consumer Sentiment Index edged lower by 1.4 points in September, according to a final reading. That would mean some federal workers become furloughed and agencies operate with skeleton crews, hamstringing agencies’ ability to provide crucial government services. The ongoing United Auto Workers strike is also not expected to end soon. With so much turmoil, Americans will likely feel uneasy in the coming weeks, which could affect their spending.

Persons: ”, Joanne Hsu, There’s Organizations: DC CNN, University of Michigan’s, “, Republicans, United Auto Workers, UAW, Ford, GM, Kaiser Permanente, Commerce Department Locations: Washington, Kaiser, California , Colorado , Oregon, Washington , Virginia, Las Vegas, Reno

Biden's presence at the event was historic and extraordinary: Both the White House and labor union experts said that a sitting president has never walked a picket line in support of striking workers. Presidents typically try to mediate when management and labor union disputes threaten to disrupt the economy. President Ronald Reagan in 1981 fired more than 11,000 striking air traffic controllers, delivering a major blow to the labor union movement. Trump also promised auto workers in Lordstown, Ohio, in 2017 that their plant would not close, so “don’t move. Biden's backing of electric vehicles has some auto union members worried they will lose their jobs in gasoline-powered auto plants, and Trump has exploited that concern to his advantage.

Persons: Joe Biden, Biden, you’ve, Ronald Reagan, It's, Erin Hatton, Donald Trump, Trump, Sean Fain, Ford, they're, Erik Loomis, Loomis, Hatton, Hattan Organizations: United Auto Workers, Ford, Big Three, White House, UAW, Motor Co, General Motors, Chrysler, University of Buffalo, Michigan, Trump, Anderson Economic Group, Gallup, Hollywood, Writers Guild of America, University of Rhode Locations: Michigan, Wayne County, Lordstown , Ohio, Michigan’s Macomb County, California, University of Rhode Island, Las Vegas

All 16 are facing eight criminal charges, including forgery and conspiracy to commit election forgery, that were first announced in July by state Attorney General Dana Nessel. Michigan is one of seven states where false Electoral College certificates were submitted declaring Trump the winner, despite confirmed results showing he had lost. On Sept. 18, Nessel, a Democrat, told a liberal group during a virtual event that the false electors had been “brainwashed” and “genuinely” believed Trump won in Michigan’. George MacAvoy Brown, an attorney for Henry, said in a statement that the charges require proof that Henry “intended to cheat or deceive someone” and that Nessel's comments show that wasn't the case. Henry and several others, including Maddock and Kathy Berden, Michigan’s Republican national committeewoman, are scheduled to appear for a preliminary examination hearing on Oct. 12.

Persons: Donald Trump, Dana Nessel, Michigan’s “, Joe Biden, Trump, ”, ” Nessel, Nessel, Ann Henry, George MacAvoy Brown, Henry, Henry “, Danny Wimmer, Nick Somberg, Meshawn Maddock, Amy Facchinello, Maddock, Kathy Berden Organizations: Michigan Republicans, GOP, The Detroit News, Democratic, Michigan GOP, Associated Press, AP, Republican Locations: LANSING, Mich, . Michigan, Michigan, Ingham County, ”

PORT WASHINGTON, Wis. (AP) — Five flamingos that showed up in Wisconsin to wade along a Lake Michigan beach attracted a big crowd of onlookers eager to see the unusual visitors venturing far from their usual tropical setting. The birds stood quietly 25 feet (7.6 meters) off Lake Michigan’s western shoreline as waves lapped against their thin legs. Wildlife biologists hypothesized that the flamingos were pushed north in late August by the strong winds of Hurricane Idalia, the Journal Sentinel reported. Debbie Gasper of Port Washington made the short trip to the lakefront with her husband, Mark. She said that before Friday the only flamingos she has seen have been on the couple’s trips to Aruba.

Persons: Mark Korducki, Jim Edelhuber, Ryan Brady, Idalia, Debbie Gasper, Mark, Gasper, “, ” Organizations: Wisconsin Society for Ornithology, Milwaukee Journal Sentinel, Wisconsin Department of Natural Resources ., Journal Sentinel Locations: PORT WASHINGTON, Wis, Wisconsin, Lake Michigan, Port Washington, Milwaukee, Lake, Waukesha, Indiana , Kentucky , Ohio, Pennsylvania, flamingo, Florida, Caribbean, South America, Aruba, Georgia

☆ Opinion | College Sports Is Broken. Here’s What Must Come Next.
▼ + stars: | 2023-09-21 | by ( Jordan Acker | ) www.nytimes.com time to read: +3 min

Many student athletes rarely have the chance to step foot in a classroom, attending their classes online and taking proctored exams in hotel ballrooms near the next game site. Say the Big Ten required its TV partners to share 30 percent of its revenues with its student athletes,. The N.C.A.A.’s rules on revenue sharing are driven by their members; this change will not come from the N.C.A.A.’s home base of Indianapolis, but from leaders at member institutions speaking frankly about the challenges to come. It must also take into account the input of student athletes, who are too often shut out of decisions that directly affect them. Make no mistake, the courts are judging the Big Ten Conference, and the other major N.C.A.A.’ conferences, on their behavior.

Persons: Iowa’s, Kirk Ferentz, Jim Harbaugh, Brett Kavanaugh, Alston, ’ Organizations: College, University of Michigan, University of Oregon, Delta Airlines, Big Ten Conference, Rutgers, University of Washington, Big, Big Ten Football Locations: Salt Lake City, Seattle, Detroit, London, Michigan, Ann Arbor, Indianapolis, America

☆ Michigan and the Auto Industry Share a Past. What About the Future?
▼ + stars: | 2023-09-20 | by ( Mitch Smith | More About Mitch Smith | ) www.nytimes.com time to read: +1 min

And young Michigan residents, though in smaller numbers than before, continue to follow relatives into jobs at the auto plants. Her overnight shift helping to build Ford Broncos is physically demanding, she said, and it pays just enough to cover her bills. From her place on the picket line this week, she said she hoped the work stoppage would lead to improvements. “I think everything is going to work, we’re going to get what we deserve,” Ms. Brown said. Still, she said, “I wonder how long this strike is going to be, how long they’re going to wait.”

Persons: ”, Tyler Theile, Detroit’s N.B.A, Heaven Brown, Ms, Brown, “ Organizations: Anderson Economic Group, Pistons, Fords, Wayne, Ford Broncos Locations: Michigan, Detroit, Flint, Lansing

☆ Multiple crises batter Washington and set up a fateful 2024 election
▼ + stars: | 2023-09-18 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

The octogenarian president is increasingly coming under scrutiny over his ability to serve a full second term if he wins in November 2024. But the trauma seizing Washington will soon intrude, transfixing the nation in a tumultuous 2024 election. The turmoil in the Republican Party is creating the kind of dysfunction and extremism that could turn off general election voters next year. In more placid times, the auto strike would be a dominant national issue defining a fraught political moment. But it’s just one of many crises threatening to overwhelm a political system that appears on the verge of a serious malfunction.

Persons: Donald Trump, Joe Biden’s, – Trump, Biden, Hunter’s, Kevin McCarthy, It’s, Washington’s, Volodymyr Zelensky, Trump, Zelensky, Vladimir Putin “, – Biden, tailgated, ”, McCarthy, Matt Gaetz, “, Kevin, ” Gaetz, demagogue, Jack Smith, Tanya Chutkan, David Weiss, Hunter Biden, Trump’s, Hunter, –, David Ignatius, Kamala Harris, it’s Organizations: CNN, Republicans, White, Republican, Trump Republicans, Senate, GOP, Hollywood, Press, NBC, Caucus, Florida GOP, Sunday, Fox News . House Republicans, Republican Party, Trump, United Auto Workers, Big Three, Biden Locations: American, China, Ukraine, Washington, Russian, Rosh

Biden is trying to turbocharge the market for electric vehicles to reduce greenhouse gas emissions and prevent China from solidifying its grip on a growing industry. However, some in the UAW fear the transition will cost jobs because electric vehicles require fewer people to assemble. China is the dominant manufacturer of electric vehicles and batteries. Some environmental groups, conscious of how labor remains crucial to securing support for climate programs, have expressed support for the strike. Former President Donald Trump, the frontrunner for the Republican nomination, sees an opportunity to drive a wedge between Biden and workers.

Persons: Joe Biden, Biden, ”, Erik Gordon, Brittany Eason, Eason, ” Biden, “, Dave Green, ’, Suzanne Clark, Sam Gilchrist, It's, Donald Trump, NBC's “, ” Trump, Shawn Fain, “ That’s, ” Ammar Moussa, Trump, Barack Obama, Fain, Madeline Janis, Joey Cappelletti Organizations: WASHINGTON, United Auto Workers, UAW, University of Michigan’s Ross School of Business, Ford Assembly Plant, White, ”, U.S . Chamber of Commerce, Natural Resources Defense, Presidential, Republican, Press, MSNBC, Energy Department, Ford, South, White House, Associated Locations: Michigan, China, Wayne, Mich, Detroit, Ohio, Indiana, U.S, United States, Tennessee, Kentucky, South Korean, Lansing

☆ What people are saying about the US auto worker strike
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Sept 15 (Reuters) - The United Auto Workers union launched simultaneous strikes at three factories owned by General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI) on Friday, kicking off the most ambitious U.S. industrial labor action in decades. "I’m looking forward to joining our auto workers on the picket line this weekend. For the sake of Michigan’s economy and our working families, I hope this strike is short-lived. "American families are already feeling economic pressures from near-record-high inflation, and this will only inflict more pain. We urge a swift resolution to end this strike and avoid further undermining the strength of our industry and harming our broader economy."

Persons: ELISSA SLOTKIN, we’ve, ” JAY TIMMONS, DEBBIE STABENOW OF, Joseph White, David Shepardson, Trevor Hunnicutt, Peter Henderson, Anne Marie Roantree, Jamie Freed Organizations: United Auto Workers, General Motors, Ford, Chrysler, Ford Bronco, Chevrolet, UAW, Company, DEMOCRATIC U.S, ELISSA SLOTKIN OF, NATIONAL ASSOCIATION, ”, Thomson Locations: Chevrolet Colorado, ELISSA SLOTKIN OF MICHIGAN, China, Detroit, DEBBIE STABENOW OF MICHIGAN, Washington, San Francisco

☆ Americans are feeling gloomier about the economy
▼ + stars: | 2023-09-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —Americans aren’t feeling gloomy about higher gas prices just yet, but they’re still on edge about inflation and the economy’s direction — and concerns are starting to surface about the possibility of a government shutdown. Consumer sentiment tracked by the University of Michigan edged down in September from the prior month by 1.8 points, according to a preliminary reading released Friday. “Both short-run and long-run expectations for economic conditions improved modestly this month, though on net consumers remain relatively tentative about the trajectory of the economy,” said the University of Michigan’s Surveys of Consumers Director Joanne Hsu in a release. Sentiment fell to its lowest level on record last summer when gas prices topped $5 a gallon and inflation reached a four-decade high. Consumers’ expectation of inflation rates in the year ahead fell to a 3.1% rate in September, down from 3.5% in the prior month.

Persons: they’re, ”, Joanne Hsu Organizations: DC CNN, University of Michigan, University of Michigan’s, AAA Locations: Washington

MADISON, Wis. (AP) — Wisconsin Republicans have enjoyed outsize control of the Legislature in one of the most closely divided states for a dozen years. Maintaining that power is now at the heart of a drama involving the state Supreme Court that has national political implications. “Impeachment is an act of pure power politics,” said Ben Wikler, chair of the Wisconsin Democratic Party. In 2020, the state Supreme Court, then controlled 4-3 by conservatives, came within one vote of overturning Democrat Joe Biden's nearly 21,000 vote victory over then-President Donald Trump. The Supreme Court has yet to decide whether it will take either case.

Persons: ”, Ben Wikler, “ It’s, Joe Biden's, Donald Trump, Greta Neubauer, Mark Pocan, Robin Vos, “, ” Vos, Wisconsin Legislature “, Nick Seabrook, Janet Protasiewicz, Protasiewicz, Vos, Tyler August, ” ___ Lieb Organizations: — Wisconsin Republicans, Republicans, Democratic, Wisconsin Democratic Party, Wisconsin Supreme, Donald Trump . Wisconsin Republicans, Republican, Michigan House, Democrat, U.S . Senate, Associated, Democratic U.S . Rep, U.S, Supreme, Wisconsin Legislature, University of North, Wisconsin Democrats, GOP, Legislative Republicans, Democratic Party, GOP . Wisconsin Locations: MADISON, Wis, Wisconsin, Neighboring Michigan, Unlike Wisconsin , Michigan, Wisconsin’s, West Virginia, ” Wisconsin, University of North Florida, Jefferson City , Missouri

DETROIT (AP) — The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people. NHTSA is trying to force ARC to recall inflators in driver and passenger front air bags from at least a dozen automakers. Neither ARC nor the auto industry has released a full list of vehicle models with the kind of air bag inflators that have exploded. But at least 25 million of the 284 million vehicles on U.S. roads are believed to contain them. ____This story has been corrected to show that at least 25 million vehicles could have the ARC air bag inflators, not 33 million.

Persons: Kia —, inflators, Marlene Beaudoin, Beaudoin Organizations: DETROIT, Traffic, Administration, ARC Automotive Inc, ARC, NHTSA, Chevrolet, Buick, GMC, Ford, Toyota, Volkswagen, Audi, BMW, Porsche, Hyundai, Kia, General Motors, Yinyi Locations: U.S, Tennessee, Canada

☆ Americans are getting a little worried about inflation
▼ + stars: | 2023-08-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans felt more pessimistic about the economy in August, following two straight months of growing confidence. That would make it extremely hard for the Fed to bring inflation back down to 2%. Consumer attitudes are sometimes a bellwether for spending, which is mainly what economists focus on since consumer spending accounts for about two-thirds of economic output. That’s because the US economy’s strength might not be consistent with 2% inflation, the Fed’s inflation goal. But both the economy and job market also remain on strong footing, and that’s helping to keep inflation elevated.

Persons: ”, Dana Peterson, “, Jerome Powell Organizations: DC CNN, Conference Board, Labor, University of, Federal Reserve, Fed, Street, Kansas City, Atlanta Fed, Commerce Department Locations: Washington

☆ Consumers are growing slightly more cautious about the economy
▼ + stars: | 2023-08-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN —Americans’ attitudes toward the US economy appear to be growing more tepid. The University of Michigan’s closely watched consumer sentiment index measured 69.5 in August, down slightly from July. “Consumers perceive that the rapid improvements in the economy from the past three months have moderated, particularly with inflation, and they are tentative about the outlook ahead,” Joanne Hsu, director of the university’s Surveys of Consumers, said in a statement. Inflation expectations for the year ahead ticked down to 3.3% from 3.4% in July, showing “remarkable stability” but still trending higher than pre-pandemic expectations, which ranged in the 2.3% to 3% range. Inflation expectations are crucial data points for the Federal Reserve.

Persons: ” Joanne Hsu, Hsu, ” Hsu, “ Organizations: Minneapolis CNN, University of Michigan’s, Consumers, Federal Reserve Locations: Minneapolis, Michigan

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