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☆ Minnesota lawmakers strike minimum pay deal for Uber, Lyft drivers
▼ + stars: | 2024-05-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night. The rule was delayed after Lyft and Uber warned they would leave Minneapolis. State lawmakers have been focused on compromising with the companies before a July 1 deadline. Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute. “We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard.

Persons: Uber, Lyft, Jamie Long, ” Long, ”, Erin Murphy, Josh Gold Organizations: New, New York CNN, Minnesota, Democratic, Minneapolis City Council, Governor Locations: New York, Minnesota, Minneapolis, State

☆ Trump-era tax cuts set to expire after 2025 — here's what you need to know
▼ + stars: | 2024-05-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

The TCJA reduced federal income tax rates across the board, with the top rate falling to 37% from 39.6%. That would return the federal income tax rates to 10%, 15%, 25%, 28%, 33%, 35% and 39.6%. In the meantime, some higher earners have been leveraging lower income tax rates through 2025 by incurring income now, experts say. The standard deduction could fallWhen filing taxes, you claim the standard deduction or itemized deductions, whichever is greater. Before 2018, about 70% of taxpayers claimed the standard deduction, compared with 90% in tax year 2020, according to the Tax Policy Center.

Persons: Donald Trump, Michael M, Erica York, Roth, it's, Gleckman, Robert Dietz Organizations: Santiago, Getty, Tax, Center, Federal Tax, Senate, Bernstein Private Wealth Management, CNBC Locations: Wildwood Beach, Wildwood , New Jersey, California , New Jersey, New York, Minneapolis

☆ Some consumers are punting big purchases like pools and mattresses
▼ + stars: | 2024-05-18 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

Rachel Wisniewski | ReutersAmericans are kicking the can down the road on some more-costly, traditionally financed purchases as elevated inflation and interest rates bite. "As a result, consumers continue to scrutinize their spending and make near-term decisions based primarily on need, price and perceived value. But those options have fallen out of favor as interest rates rose. He also cited increased interest rates as another weight on their shoulders. Lofty interest rates have also hampered housing improvement efforts for those staying put, according to Home Depot .

Persons: Rachel Wisniewski, Joe, Shelly Ibach, Ibach, FactSet, Mark Mathews, Platt, J, Mitchell Dolloff, Dow Jones, it's, Mathews, Enphase, Badri Kothandaraman, Marc Bitzer, Patrick T, bode, Robert Ohmes, Richard McPhail, It's, McPhail Organizations: Reuters, Reserve, Prosper, National Retail Federation, San Francisco Fed, New York Fed, Management, Commerce Department, Consumers, Whirlpool, Fallon, Bloomberg, Getty, Bank of America, CNBC Locations: Gilbertsville , Pennsylvania, Minneapolis, U.S, California, Torrance , Calif, Minnesota

☆ Election Updates: Trump will speak at a Minnesota fund-raiser, hoping the state’s political divide will put it in play.
▼ + stars: | 2024-05-17 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +6 min

On Friday, the former president will be back, speaking at a fund-raising dinner for the Minnesota Republican Party in St. Paul that is open only to paying guests and invited media. Whether the visit is a feint to draw Democratic dollars to the state or a true effort to expand the electoral map, only the Trump campaign knows. The Trump campaign believes it can capitalize on — or foment — a backlash to the leftward march of the Twin Cities and still-fresh memories of the unrest after the killing of George Floyd. “We have a real opportunity to expand the map here,” Chris LaCivita, a senior Trump campaign adviser, told The Associated Press ahead of Mr. Trump’s visit. In an interview with a conservative radio station in March, Mr. Trump falsely claimed he won Minnesota in 2020.

Persons: Donald J, Trump, Hillary Clinton, Paul, ”, Angie Craig, Richard M, Nixon, Trump’s, Clinton, Biden, “, Pete Stauber, Donald Trump, Dean Phillips, Phillips, Mr, Jack Rendulich, Collin Peterson, Rick Nolan, Stauber, Tim Walz, George Floyd, Ilhan Omar, Floyd’s, Chris LaCivita, Jim Manley, Barack Obama, Tim Pawlenty, Minnesota’s Organizations: Minnesota Republican Party, Trump, Republican, Republicans, Democratic, ”, Democrat, Mr, Associated, Agriculture, Democratic Socialists of America, City Council, Democrats, Twin, Alpha, Associated Press, North, North Carolina, Midwest, Minnesota Locations: Minnesota, St, Minneapolis, Paul, ” Minnesota, Northeast Minnesota, Twin Cities, Democratic, City, Gaza, North Carolina, Illinois

☆ Trump Visits Minnesota, Hoping Its Political Divide Will Put It in Play
▼ + stars: | 2024-05-17 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +1 min

On Friday, the former president will be back, speaking at a fund-raising dinner for the Minnesota Republican Party in St. Paul that is open only to paying guests and invited media. Whether the visit is a feint to draw Democratic dollars to the state or a true effort to expand the electoral map, only the Trump campaign knows. But it is a moment to look at the stark divisions in a state where the urban and rural political and social gulf is particularly vast. “Look, I was on the ballot in 2016 when Trump first ran. We’re all going to have to work really, really hard this year.”

Persons: Donald J, Trump, Hillary Clinton, Paul, ”, Angie Craig Organizations: Minnesota Republican Party, Trump Locations: Minnesota, St, Minneapolis, Paul

☆ NBA playoffs: Nikola Jokić erupts for 40 points as Denver Nuggets take 3-2 series lead over Minnesota Timberwolves
▼ + stars: | 2024-05-15 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Newly crowned three-time NBA Most Valuable Player (MVP) Nikola Jokić put on a show and proved why he is the rightful recipient of the award in the Denver Nuggets’ 112-97 playoff victory over the Minnesota Timberwolves on Tuesday. So good was Jokić’s performance that teammates and opponents alike were lavishing him with praise after the game. He’s the best player in the NBA, he showed it the last three games, three games in a row. Only five teams in NBA history have come back to win a best-of-seven series when losing the first two at home. Brunson, who bounced back impressively after a poor showing in Game 4, also added seven assists and four rebounds.

Persons: Nikola Jokić, Rudy Gobert, Aaron Gordon, “, ”, Anthony Edwards, Jokić “, ” “, ” Edwards, He’s, ” Gordon, Jamal Murray, Karl, Anthony Towns, Edwards, Garrett Ellwood, “ Nikola, Michael Malone, Brunson, Pacers Jalen Brunson, LeBron James, Pascal Siakam, Tyrese Haliburton Organizations: CNN, Denver Nuggets, Minnesota Timberwolves, Denver, Nuggets, ESPN, “, NBA, Timberwolves, Western, Knicks, Pacers, New York Knicks, Indiana Pacers, Eastern Locations: Serbian, Minnesota, Minneapolis, Indianapolis, Indiana

Learn moreCountry star Morgan Wallen is continuing his tour throughout 2024, and tickets to his upcoming concert dates are getting snatched up quickly. We've got you covered if you're looking for ways to buy tickets to Morgan Wallen's 2024 concert tour. Morgan Wallen 2024 tour scheduleMorgan Wallen has 28 concert dates still remaining on his 2024 world tour. Compared to similar acts currently touring, Morgan Wallen tickets are relatively expensive. Of course, ticket prices for Morgan Wallen's 2024 tour vary depending on date, location, and demand for each show.

Persons: Morgan Wallen, Morgan, Morgan Wallen's, Post Malone, We've, Wallen, Bailey Zimmerman, Jelly Roll, Jon Pardi, Lainey Wilson, Parker McCollum, Nate Smith, Bryan Martin, Lauren Watkins, Larry Fleet, Koe Wetzel, Ella Langley, Ireland Ella Langley, Koe, Arlington , TX Parker McCollum Organizations: Business, Panama City Beach, SC, Ticketmaster, Glasgow, Gulf, Vivid, Fleet, Koe Wetzel, East Rutherford , NJ Morgan Locations: North America, Europe, Dublin, Ireland, East Rutherford, NJ, Ridgedale, Panama City, Virginia Beach, Myrtle Beach, Minneapolis, Denver, London, England, Tampa, Charlotte, NC, Arlington, TX, Kansas City, Vegas, Stockholm, Sweden, Oslo, Norway, Copenhagen, Denmark, Amsterdam, Netherlands, Glasgow, Scotland, Charlotte , NC, Ridgedale ,, Gulf Coast, Minneapolis ,, Kansas City ,, Las Vegas, Arlington , TX, East Rutherford , NJ, Virginia Beach ,, Arlington ,, East Rutherford ,, New Zealand, Australia, Canada

☆ The Solar Storm Fried GPS Systems Used by Some Farmers, Stalling Planting
▼ + stars: | 2024-05-13 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

The powerful geomagnetic storm that cast the northern lights’ vivid colors across the Northern Hemisphere over the weekend also caused some navigational systems in tractors and other farming equipment to break down at the height of planting season, suppliers and farmers said. Many farmers have come to rely on the equipment, which uses GPS and other navigational technology and helps them to plant more efficiently and precisely by keeping rows straight and avoiding gaps or overlap. In Minnesota, some farmers who had planned to spend Friday night sowing seeds were hamstrung by the outages. “I’ve never dealt with anything like this,” said Patrick O’Connor, the owner of a farm about 80 miles south of Minneapolis that mainly grows corn and soybean. Mr. O'Connor said that after being rained out for two weeks, he got into his tractor around 5 p.m., hoping to spend the night planting corn.

Persons: I’ve, ”, Patrick O’Connor, O'Connor Organizations: Northern Hemisphere Locations: United States, Canada, Minnesota, Minneapolis

☆ Asia markets largely lower as investors assess China inflation data, await Japan GDP print
▼ + stars: | 2024-05-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Federal Reserve regional presidents Neel Kashkari of Minneapolis and Austan Goolsbee of Chicago said they are taking a patient approach to monetary policy as they weigh surprisingly strong inflation data this year. Let's get a lot more data to see if this inflation is going to continue or if it's stalling," Kashkari said during a joint live interview on CNBC. "We are all committed to getting inflation back" to the Fed's 2% goal. Goolsbee noted the rapid disinflation that occurred in 2023 and said he is hopeful that can resume following the sticky upward trend seen so far this year. Or did we kind of use up all of our good luck and this bump of the beginning of the year is actually a sign of overheating?"

Persons: Neel Kashkari, Kashkari, Goolsbee, Jeff Cox Organizations: Reserve, CNBC Locations: Minneapolis, Chicago

☆ Stock market today: US stocks rise ahead of a big week with April inflation on deck
▼ + stars: | 2024-05-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors have a big week ahead for economic data, including April CPI and retail sales results. AdvertisementUS stocks edged higher on Monday ahead of a busy week of economic data that could shake stock prices. The most anticipated report for investors this week is Wednesday's release of the April consumer price index report. The inflation data will help investors determine when the Federal Reserve might cut interest rates this year. Ahead of consumer inflation data, the producer price index will be released on Tuesday, with median estimates suggesting a 0.2% rise in April.

Persons: —, Jerome Powell, Neel Kashkari Organizations: Dow Jones, Service, Federal Reserve, Investors, CPI, Philadelphia Fed, Minneapolis Fed Locations: Here's

☆ Gen Z is getting hit hard by inflation
▼ + stars: | 2024-05-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

For Gen Z, it was the Covid-19 pandemic. Why are we seeing that Gen Z is tapping into their credit more than their Millennial counterparts 10 years ago? Most Gen Z consumers are not homeowners. And so I think that’s been a big cause of what’s been driving a lot of that financial strain that Gen Z consumers have seen. The key is to not use the personal loans to pay off credit card debt and then run your credit card bills right back up after you do that.

Persons: TransUnion, Zers, Millennials, Gen Zers, Bell, Charlie Wise, we’ve, haven’t, You’re, Rishi Sunak, Hanna Ziady, Anna Cooban, Philip Jefferson, Loretta Mester, Jack, Neel Kashkari Organizations: CNN Business, Bell, New York CNN, Gross, Office, National Statistics, Bank of England, P, Federal, Cleveland Fed, Depot, US Labor Department, Cisco Systems, US Commerce Department, National Association of Home Builders, Index, Minneapolis, Walmart, Applied, Co, Baidu, Board Locations: New York, Kingdom, Wells Fargo

☆ 15 cities with plenty of rentals and high enough wages to afford them
▼ + stars: | 2024-05-12 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +3 min

A new Zillow and StreetEasy analysis finds that rental price growth is far outpacing wage growth in most big cities — and New Yorkers are particularly screwed. In New York City, rents increased seven times as fast as wages from 2022 to 2023. Similarly, renters in Boston, Cincinnati, and Buffalo are seeing their wage growth dwarfed by their rent increases. But it's not all bad news for prospective and current tenants: There are still a handful of cities where wage growth has outpaced rent increases. While wages rose by 5.5% between 2022 and 2023, rents increased by just 0.8%, the Zillow/StreetEasy report found.

Persons: it's, Tesla, Austin, that's, there's Organizations: Service, Business, Apple, The Atlantic Locations: New York City, Boston , Cincinnati, Buffalo, Austin, Portland , Oregon, Salt Lake City, San Jose, Houston, Salt Lake City , Minneapolis, Riverside , California, Los Angeles, San Francisco, San Diego, California, Southern, Raleigh, Charlotte, North Carolina, Miami, Georgia, Tennessee

About 2,800 residents from the Northern Rockies Regional Municipality and about 450 residents from the Fort Nelson First Nation were asked to evacuate. Wildfire smoke has been linked to increases in certain cancers and heart-related issues, among other ailments. In 2023, 19 counties in 11 states had days with “very unhealthy” and “hazardous” air quality — given at least a “code purple” alert on the US Environmental Protection Agency’s Air Quality Index. Light rain showers were expected overnight Sunday with more rain forecast Monday, “which will help lower fire activity,” a Sunday update from Alberta Wildfire said. Fire restrictions will remain in effect in the area until conditions improve, according to Alberta Wildfire.

Persons: Parker, “, ” Ben Boghean, ” Cliff Chapman, Jaylene, Terry Cavaliere, ” Boghean, Paul, Crews Organizations: CNN, BC Wildfire Service, Northern Rockies Regional, Fort Nelson, Wildfire, Northern Rockies, Fort Nelson First Nation, Environment Canada, Canadian Interagency Fire Centre, Air, Environmental Protection Agency, US, Protection, British Columbia, Alberta, Reuters Residents, Estates, Lake Estates, Fort McMurray, Alberta Wildfire Locations: British Columbia, Fort Nelson, Northern Rockies Regional Municipality, Parker, Fort, Canada, Maryland, Alberta, Fort McMurray, Saskatchewan, Wisconsin, Minnesota, Minneapolis, St, United States, British, Grande Prairie Forest, TeePee Creek , Alberta, Regional, Wood Buffalo, Lake

☆ The Fed on rate cut timeline, restrictive monetary policy and inflation target
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed on rate cut timeline, restrictive monetary policy and inflation targetMinneapolis Fed President Neel Kashkari and Chicago Fed President Austan Goolsbee join 'Power Lunch' to discuss the Fed's next move for rate cuts.

Persons: Neel Kashkari, Austan Goolsbee Organizations: Chicago Fed

☆ Read the email Target sent employees about changes to its Pride collection after 'challenging' last year
▼ + stars: | 2024-05-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

"As we all know, last year was challenging, and we've made some changes this year," the note said. On Friday, Target confirmed it will reduce the number of stores that carry its assortment of LGBTQ+ merchandise for Pride month in June. The company said it will offer a collection online and certain stores "based on historical sales performance." AdvertisementRead the email from Target to the LGBTQ+ employee group:Pride+ community,As you know, team members across Target have been working on our Pride 2024 plans for months. As we all know, last year was challenging, and we've made some changes this year based on guest insights and sales trends.

Persons: we've, —, Brand Marketing Carlos Saavedra, Saavedra, you'd, Ann, Jeff, Carlos Organizations: Service, Business, Bloomberg, Target, Brand Marketing, Pride Locations: Minneapolis , New York City

☆ Treasury yields pause for breath as traders digest strong jobs data
▼ + stars: | 2024-05-10 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

The 2-year Treasury yield, meanwhile, was marginally higher at 4.819%. U.S. Treasury yields were broadly flat early Friday as traders digested the jump in weekly jobless claims and what this could mean for interest rates. Relief at the auction outcome means traders are now firmly focused — once again — on the interest rate trajectory of the Federal Reserve. Weekly initial jobless claims, released Thursday, hit their highest level since August 2023, coming in at 231,000. It comes after the Bank of England on Thursday held interest rates as expected, but raised expectations of a cut in June.

Persons: —, Henry Allen, Treasurys, Dallas, Lorie Logan, Neel Kashkari, Goolsbee, Michelle Bowman Organizations: Treasury, U.S, Federal Reserve, Deutsche Bank, Bank of England Locations: U.S, Minneapolis

☆ Target is dialing back on Pride merchandise after right-wing backlash
▼ + stars: | 2024-05-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Target is limiting the number of stores that will sell LGBTQ-themed merchandise for Pride Month in June following a boycott from right-wing activists last year that took a toll on the brand’s bottom line. About half of its 2,000 stores will sell the Pride collection, according to Bloomberg, which first reported the news. The changes are a “sensible approach,” Neil Saunders, managing director of retail for GlobalData, told CNN. Pride problemsLast year, Target pulled Pride merchandise from some stores after the company and its employees became the focus of a “volatile” anti-LGBTQ campaign, which included threats against its store workers. A Target executive said on the earnings call that there was a “strong reaction” to Pride merchandise and the reaction was a “signal for us to pause, adapt and learn.”–CNN’s Nathaniel Meyersohn contributed to this report.

Persons: Target, it’s “, ” Neil Saunders, “, ”, ” –, Nathaniel Meyersohn Organizations: New, New York CNN, Pride Month, Bloomberg, CNN, Pride, Target, GlobalData, Wall Street Journal, Republican Locations: New York, Minneapolis

☆ A 63-year-old peak boomer said she 'can't even think about retiring' despite having a master's degree and working two jobs
▼ + stars: | 2024-05-09 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Despite having a master's degree, she's concerned about affording rent upon retirement. AdvertisementCathy R., 63, has a master's degree and has worked all her life, though she's very worried for her future. However, even with a master's, she said she couldn't find anything higher-paying than clerical work, as she was constantly told she didn't have enough experience. "How are you supposed to get that experience when all you do is give me clerical work?" "I don't own anything except a car, I always have to rent, but I don't know how seniors on limited income are paying rent," Cathy said.

Persons: Cathy, ALICE, —, Cathy R, she's, We've, ALICE Cathy, hadn't Organizations: Service, Alliance, Lifetime, Income, University of Minnesota, Department of Revenue Locations: Minnesota, Paul, Minneapolis, St

☆ Stock futures are little changed after Dow notches seven-day win streak: Live updates
▼ + stars: | 2024-05-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8, 2024. U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average posted its longest win streak going back to December. S&P 500 futures climbed 0.09%, while Nasdaq 100 futures gained 0.1%. The S&P 500 gained 0.51%, closing above 5,200 for the first time since early April. The S&P 500 and the Nasdaq Composite were higher by 1.7% and 1.2%, respectively.

Persons: Dow, Chris Hyzy, Stocks, Lorie Logan, Neel Kashkari, Michelle Bowman Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Federal Reserve, Merrill, Bank of America Private Bank, Fed Locations: New York City, U.S, Dallas, Minneapolis, Chicago

Hans Zimmer Live 2024 is the sixth official touring production in which the famous composer performs live onstage. We've got you covered if you're looking for how to get tickets to Hans Zimmer Live 2024. Hans Zimmer 2024 tour scheduleHans Zimmer has 17 shows confirmed for the North American portion of his 2024 tour, taking him across just as many cities in the United States and Canada. Standard tickets for Hans Zimmer Live on verified resale sites are generally comparable to or less expensive than original ticket prices. Three international dates for Hans Zimmer Live 2024's North American leg are also confirmed.

Persons: Hans Zimmer, he's, King, Christopher Nolan's, Denis Velleneuve's, Zimmer, We've, Hans Zimmer's, Zimmer's Organizations: Business, United, Pirates, Ticketmaster, North, Zimmer's, Odessa Orchestra & Friends, Choir Locations: United States, American, Caribbean, North America, Canada, Duluth , Georgia, Vancouver , British Columbia, York City, Duluth, Hollywood, Raleigh, NC, NY, Baltimore, Boston, Montreal, Toronto, ON, Minneapolis, Chicago, Fort Worth , TX, Denver, Vegas, Los Angeles, CA, Oakland, Seattle, WA, Vancouver, BC, North American, Zimmer's Raleigh, Las Vegas, Dubai, Dortmund, Germany, British Columbia

Signage stands outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S., on Friday, Aug. 10, 2018. Sinclair , one of the largest owners of broadcast stations in the U.S., is looking to sell more than 30% of its footprint, according to people familiar with the matter. Sinclair owns or operates 185 TV stations in 86 markets. Broadcast TV station groups have suffered in the past five years as millions of Americans have canceled traditional pay TV. Most stations make money from so-called retransmission fees, paid on a per-subscriber rate by traditional TV distributors, such as Comcast, DirecTV, and Charter, for the right to carry the stations.

Persons: Sinclair, Moelis, Chris Ripley, we've, Ripley, Spokespeople Organizations: Sinclair, Group Inc, Fox, NBC, ABC, CBS, Tennis, Bloomberg, Comcast, DirecTV Locations: Cockeysville , Maryland, U.S, Minneapolis, Portland, Pittsburgh, Austin , Texas, Fresno, Calif

☆ 10-year Treasury yield rises as investors consider remarks from Fed officials
▼ + stars: | 2024-05-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were higher on Thursday as investors considered remarks from Federal Reserve officials, scanning them for hints about the interest rate outlook. Collins' comments echoed those made by Minneapolis Fed President Neel Kashkari and Richmond Fed President Tom Barkin earlier in the week. More Fed officials are set to speak on Thursday and Friday. Elsewhere, the Bank of England is due to announce its latest interest rate decision on Thursday. The BoE is widely expected to leave interest rates unchanged, but investors will be scanning Governor Andrew Bailey's statement for hints about a potential summer rate cut.

Persons: Susan Collins, Collins, Neel Kashkari, Tom Barkin, BoE, Andrew Bailey's Organizations: Treasury, Federal Reserve, Boston, Wednesday, Minneapolis, Richmond Fed, Fed, Bank of England

☆ Gold slips as dollar firms, traders brood on rate cut timing
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.1% at $2,311.07 per ounce as of 0235 GMT. The dollar index rose 0.1%, making greenback-priced gold more expensive for other currency holders. If the upcoming reports show scary inflation, then the Fed can't cut rates and it will pressure gold, he added. Bullion is used as a hedge against inflation, but higher rates reduce the appeal of holding the non-yielding asset. Markets are currently seeing a 65% chance of a U.S. rate cut in September, as per CME's FedWatch Tool.

Persons: Ilya Spivak, Neel Kashkari, Spivak Organizations: University of, Minneapolis Locations: U.S, China's, China

☆ One Black Conservative Continues to Stand Apart - The New York Times
▼ + stars: | 2024-05-08 | by ( Pamela Paul | ) www.nytimes.com time to read: +1 min

Glenn Loury thought maybe the world — maybe he — had been wrong about Derek Chauvin, the police officer convicted of murdering George Floyd in 2020. Loury had watched a documentary, “The Fall of Minneapolis,” that had circulated largely on right-wing social media, arguing that Chauvin had been wrongly convicted, and found himself persuaded. Floyd’s death had ignited protests nationwide and spurred a passionate national debate about racism that often left Loury, a prominent Black conservative, at odds with many other Black intellectuals and with much of the American left. Commenters on his newsletter and social media also took issue. Then Radley Balko, an independent journalist, published a lengthy and meticulous critique of the film, calling it “all nonsense.”

Persons: Glenn Loury, —, Derek Chauvin, George Floyd, Loury, Chauvin, Floyd, Liz Collin, JC Chaix, Glenn, Radley Balko Organizations: YouTube Locations: Minneapolis, ”

☆ For US renters, the chance of owning a home is going from bad to worse
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.

Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, “, Perdue “, ”, Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China

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