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The 2% inflation target is key to the Federal Reserve's vision for stable prices in the U.S. economy, according to the Federal Reserve Bank of St. Louis. But, "the 2% inflation target, it's relatively arbitrary," Josh Bivens, director of research at the Economic Policy Institute, told CNBC. "We led the way in inflation targeting," Arthur Grimes, professor of wellbeing and public policy at Victoria University, told CNBC. Canada announced its inflation target in 1991, and the United Kingdom followed suit in 1992. Then, Sweden and Finland declared inflation targets in 1993, according to the Organization for Economic Cooperation and Development.

☆ Patrick Mahomes' wife Brittany Mahomes has built her own sports empire as a professional soccer player, part owner of a women's soccer team, and a fitness guru
▼ + stars: | 2023-02-13 | by ( Kelly Mclaughlin | Katherine Tangalakis-Lippert | Meredith Cash | ) www.businessinsider.com time to read: +9 min

Kansas City Chiefs quarterback Patrick Mahomes is celebrating his latest win with his wife Brittany. The Kansas City Chiefs selected Patrick in the first round of the NFL Draft in April 2017. Her team won its league in September 2017, according to her Instagram, and by October 2017 she was in Kansas City. I think the people are what we love the most about Kansas City," Mahomes said. He took the Chiefs to their second-consecutive Super Bowl in February 2021, though the team lost to the Tampa Bay Buccaneers.

☆ Super Bowl media embraces surprise new A-lister: Donna Kelce
▼ + stars: | 2023-02-09 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

PHOENIX, Feb 9 (Reuters) - As celebrities descended on Phoenix this week ahead of Super Bowl 57, a brand new A-lister emerged that few had heard of before: Donna Kelce. But first she is going through the Super Bowl's exhaustive news cycle, dressed in her now-famous combination Eagles-Chiefs jersey. "You can't tell my mom anything right now - she's an absolute superstar," said Travis Kelce, 33, the eight-time Pro Bowler who helped the Chiefs hoist the Lombardi Trophy three years ago. More than 180,000 signatures were signed to a Change.org petition as of Wednesday evening, demanding that Donna be allowed to make the coin toss on Super Bowl Sunday, and she signed a promotional deal with KIND Snacks. Donna has likened seeing her two sons in the Super Bowl to winning the lottery, with a career in professional sports a wild gamble for even the most gifted athlete.

☆ How Zelle is different from Venmo, PayPal and CashApp
▼ + stars: | 2023-02-04 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

More than half of smartphone users in the U.S. are sending money via some sort of peer-to-peer payment service to send money to friends, family and businesses. Stocks of payment services like PayPal, which owns Venmo, and Block, which owns Cash App, boomed in 2020 as more people began sending money digitally. One limitation of PayPal, Venmo and Cash App is that users must all be using the same service. Zelle, on the other hand, appeals to users because anyone with a bank account at one of the seven participating firms can make payments. Watch the video above to learn more about why the banks created Zelle and where the service may be headed.

☆ Chiefs QB Patrick Mahomes' wife Brittany Mahomes has built her own sports empire as a professional soccer player, part owner of a women's soccer team, and a fitness guru
▼ + stars: | 2023-01-30 | by ( Kelly Mclaughlin | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Chiefs quarterback Patrick Mahomes is celebrating his latest win with his wife Brittany. The Kansas City Chiefs selected Patrick in the first round of the NFL Draft in April 2017. She also became a part owner of Kansas City's women's soccer team when the National Women's Soccer League expanded to the city in 2020. I think the people are what we love the most about Kansas City," Mahomes said. On Sunday, Mahomes led the Chiefs to victory against the Bengals to secure a slot in the 2023 Super Bowl.

☆ U.S. Federal Reserve rejects crypto-focused bank's application to be supervised by the Fed
▼ + stars: | 2023-01-27 | by ( Hannah Lang | ) www.reuters.com time to read: +2 min

[1/2] The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File PhotoJan 27 (Reuters) - The U.S. Federal Reserve on Friday rejected crypto-focused Custodia Bank's application to become a member of the Federal Reserve System, saying the bank's proposed business model and focus on digital assets presented significant safety and soundness risks. Custodia Bank Chief Executive Caitlin Long said in a statement that the bank was "surprised and disappointed" by the Fed's decision. “Custodia actively sought federal regulation, going above and beyond all requirements that apply to traditional banks," she said. Separately, Custodia has sued the Federal Reserve Bank of Kansas City, arguing that it has unfairly delayed a decision on Custodia' application for a highly coveted master account, which gives companies access to Fed payment services.

☆ Steph Curry says he'd accept 'a nice role' in 'Black Panther 3' if director Ryan Coogler offered it
▼ + stars: | 2023-01-24 | by ( Alison Brower | Elaine Low | ) www.businessinsider.com time to read: +5 min

Several of Curry's Davidson teammates are interviewed in the documentary, and some were at the premiere. "St. Francis of Assisi — and I'll paraphrase — said 'Preach without using words,'" McKillop told the crowd of Curry. "We all start from somewhere and we learn things along the way," Curry told the audience. "I can always get better," Curry told the Sundance crowd. Its streaming premiere date on Apple TV+ has not been announced.

The court trial to decide whether a tweet Elon Musk sent in 2018 cost Tesla investors millions of dollars will resume Friday, with Musk himself potentially taking the stand. Tesla shareholders are suing the company to recoup losses they say they suffered amid Musk's claims that he had "secured" money to take the company private at $420 per share. Had the plan ultimately materialized, people who owned shares of Tesla at the time could have earned profits on their holdings. After the trial adjourned Wednesday, Porritt told The Associated Press he hopes to call Musk to the stand Friday after two other witnesses testify. Littleton told the nine-person San Francisco jury that Musk’s claim about the financing alarmed him.

☆ House GOP's 'all-star' oversight panel features 13 election deniers, 10 impeach-Biden-world advocates, and 3 congressional subpoena dodgers
▼ + stars: | 2023-01-19 | by ( Warren Rojas | ) www.businessinsider.com time to read: +5 min

House Republican leaders have stocked the oversight panel with partisan bomb-throwers. Many of the new panelists voted to overturn the 2020 election and defied Jan. 6 investigators. Retired Democratic Rep. Carolyn Maloney, who chaired the House Oversight Committee last session, asserted that this new cast of characters were getting into it for the wrong reasons. "The personal vendettas these committees pursue are not a legitimate use of the oversight power. "These are basically the people who own Kevin McCarthy at this point," Bardella told Insider at the Facts First event.

☆ Premarket stocks: How investors are preparing for a debt ceiling standoff
▼ + stars: | 2023-01-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Now, aggressive tightening by the Federal Reserve and large spending packages have helped bring that ceiling into play once again. But Washington is at an impasse over whether or not to raise the debt limit: The White House expects Congress to pass a debt ceiling increase without conditions while Republicans say that any increase should be accompanied by spending cuts. Esther George says goodbye to the FedMost Americans dream of retiring by 65, but at the Federal Reserve it’s required. The Federal Reserve Bank of Kansas City president Esther George turned 65 this weekend, triggering her mandated retirement. “Today, the U.S. is again experiencing high inflation and the Federal Reserve is aggressively tightening monetary policy.

Jan 18 (Reuters) - A University of Kansas professor avoided prison on Wednesday for making a false statement related to work he was doing in China in the latest setback for a Trump-era U.S. Department of Justice crackdown on Chinese influence within American academia. Prosecutors had asked U.S. District Judge Julie Robinson in Kansas City, Kansas, to sentence Feng "Franklin" Tao to 2-1/2 years in prison, even after the judge in September threw out most of his trial conviction for concealing work he did in China. Robinson instead sentenced the chemical engineering professor to time served with no fine or restitution. The Justice Department did not respond to requests for comment. Reporting by Nate Raymond in Boston; Editing by Alexia Garamfalvi and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Companies raising prices to get ahead of skyrocketing costs was one of the biggest drivers of surging inflation, a new study shows
▼ + stars: | 2023-01-18 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Over the past two years, soaring inflation has hit Americans in their wallets. Some pointed to soaring inflation as a byproduct of corporate greed, as firms took advantage of the economic environment to rake in record profits. Even across industries that had "very different relative demand and inflation rates" throughout 2021, markup growth remained pretty much the same. Throughout 2021, companies saw their profits soar, pocketing their highest margins since December 1950. They added that "this suggests that the source of high markup growth in recent years was not a steady increase in monopoly power."

☆ The zero-fare public transit movement is picking up momentum
▼ + stars: | 2023-01-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +7 min

In late 2019, Kansas City, Missouri, became the first major U.S. city to approve a fare-free public transit system. The public transit crisisKansas City's bus system, called RideKC. Alexandria and Richmond in Virginia have successfully integrated fare-free transit into their annual budgets. Source: Kansas City Area Transportation AuthorityIn Kansas City, zero-fare transit has become a hallmark of life. The zero-fare bus started in December 2019 as a pilot program.

☆ Retiring Fed President Challenged the Consensus Inside Central Bank
▼ + stars: | 2022-12-30 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

The Federal Reserve is set to lose one of its more diligent skeptics when Esther George, president of the Federal Reserve Bank of Kansas City, retires next month. Ms. George began her tenure at the central bank 40 years ago in the midst of the last episode of very high U.S. inflation. She became the Kansas City Fed’s president in 2011, when the economy was mired in the protracted and difficult recovery from the global financial crisis.

☆ Newly-elected Kansas Attorney General Kris Kobach fined $30,000 by FEC for illegal contribution from 'WeBuildTheWall' scam organization
▼ + stars: | 2022-12-30 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Kris Kobach was fined $30,000 by the Federal Election Commission for accepting an illegal contribution. He was just elected Kansas Attorney General. "We Build The Wall," the group that contributed to Kobach's Senate campaign, has a colorful history of its own. But Bannon now faces similar charges from the New York State Attorney General and was arrested again in September 2022. The incoming state attorney general, who served as Kansas secretary of state from 2011 until 2019, rose to national prominence during the Trump administration for his anti-immigration views and claims of voter fraud.

How much does insulin cost? People with Type 1 diabetes need, on average, one to three vials of insulin per month, according to the American Diabetes Association. Patients with Type 2 diabetes don't always need to take insulin, but those who do can sometimes require more than people with Type 1 diabetes. Even people with what's considered good health insurance coverage can face steep costs in certain situations. In addition to insulin and insurance premiums, Gibson also must spend $550 every three months for glucose monitors and $1,100 for insulin pumps.

Winter storm death toll rises to 17Authorities have reported four additional weather-related deaths, bringing the number of people who have died in the winter storm to 17. Kansas Highway Patrol said Friday that three fatal crashes occurred Wednesday and were all thought to be weather-related. The driver of the other vehicle was uninjured, according to Highway Patrol. His truck was then hit by two other vehicles and came to rest 80 feet down an embankment, Highway Patrol said. The 16-year-old driver had a minor injury, according to Highway Patrol.

☆ Here are the 14 Republican senators who may have doomed their bills in the new GOP House by voting for a major spending bill
▼ + stars: | 2022-12-22 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Kevin McCarthy even vowed to block House consideration of bills sponsored by GOP senators who voted for it. But a slew of GOP senators voted for it anyway, including 4 who are retiring and 14 who will remain. "Kevin's in a tough spot," Republican Sen. Kevin Cramer of North Dakota, a former House Republican and an opponent of the omnibus himself, told CNN's Manu Raju. "Statements like that... is the very reason that some Senate Republicans feel they probably should spare them from the burden of having to govern." Additionally, four Republican senators who voted for the bill are retiring, making the threat meaningless to them.

☆ Blizzard, cold temperatures threaten to disrupt U.S. travel before Christmas
▼ + stars: | 2022-12-19 | by ( Tyler Clifford | ) www.reuters.com time to read: +2 min

"It does not look like a good day to be traveling across the Midwest on Friday," said Greg Carbin, chief of forecast operations at the NWS Weather Prediction Center. The biggest risk exists in the states of Kansas, Nebraska and Iowa, as well as parts of Wisconsin, Illinois, Indiana and Michigan. Southern states could have rainfall and thunderstorms through Thursday, after which temperatures could drop significantly. The NWS also warned of "bone-chilling" cold in parts of Washington state through the Northern Plain states, including Montana, Wyoming and the Dakotas. Parts of Montana could see the thermometer register below minus 20 degrees Fahrenheit (-29 C) on Tuesday, according to the NWS.

☆ Expect 25 bps for the next few Fed meetings: Former Fed President
▼ + stars: | 2022-12-16 | 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 EmailFed could hike rates by 25 bps in next meetings if inflation moderates: ex-Kansas City Fed presidentThe Fed's next moves are "up in the air," says Thomas Hoenig, former president of the Federal Reserve Bank of Kansas City, and the central bank could hike by 25 basis points or 50 basis points depending on whether inflation gets too hot.

☆ Advocates Urge Congress to Pass Permanent Residency Status for Afghans
▼ + stars: | 2022-12-15 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +12 min

Drew Angerer/Getty ImagesConvincing Republican senatorsThe House version of the Afghan Adjustment Act has 143 co-sponsors, including 10 Republicans. Demonstrators gather to support Afghan evacuees outside the Capitol on Nov. 16, 2022. At the moment, one prospect to advance the Afghan Adjustment Act is by attaching it to that larger spending bill, advocates say. But negotiations on the omnibus are ongoing, and whether the Afghan Adjustment Act will be included is up in the air. Yet without a deal by then, passage of the Afghan Adjustment Act appears doomed, advocates say, keeping Afghan evacuees in perpetual legal limbo.

☆ Elizabeth Warren unveils bipartisan bill to crack down on crypto money laundering
▼ + stars: | 2022-12-14 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —As federal prosecutors seek to imprison former crypto darling Sam Bankman-Fried, Sen. Elizabeth Warren is attempting to push through Congress a bipartisan crackdown on money laundering in the crypto industry. Due to time constraints, the Warren-Marshall crypto legislation has little chance of getting through this Congress. The new bill, called the Digital Asset Anti-Money Laundering Act, would attack money laundering by attempting to bring the digital asset ecosystem into compliance with the existing system of anti-money laundering in the worldwide financial system. The Treasury Department warned earlier this year that ransomware hackers, drug traffickers and fraudsters are using digital assets to launder illicit proceeds. - Cracking down on digital asset ATMs by making sure operators and administrators submit and update the physical addresses of their kiosks.

WASHINGTON, Kansas, Dec 9 (Reuters) - Emergency crews on Friday were preparing to labor through the weekend to clean up the largest U.S. crude oil spill in nearly a decade, with workers descending on this farming community from as far away as Mississippi. This is the third spill of several thousand barrels of crude on the pipeline since it opened in 2010. U.S. regulator Pipeline and Hazardous Materials Administration said the company shut the pipeline seven minutes after receiving a leak detection alarm. Workers quickly set up a containment area to restrict oil that had spilled into a creek from flowing downstream. Even once the pipeline starts operating again, the affected area will have to flow at reduced rates pending PHMSA approval.

"We could smell it first thing in the morning; it was bad," said Washington resident Dana Cecrle, 56. It was the third spill of several thousand barrels of crude on the 2,687-mile (4,324-km) pipeline since it opened in 2010. A previous Keystone spill had caused the pipeline to remain shut for about two weeks. The spill has not threatened the water supply or forced residents to evacuate, Washington County Emergency Management Coordinator Randy Hubbard told Reuters. Workers quickly set up a containment area to restrict oil that had spilled into a creek from flowing downstream.

Dec 9 (Reuters) - The effort to remove oil from the largest crude spill in the United States in nearly a decade will extend into next week, the U.S. Environmental Protection Agency said on Friday, making it likely that the Keystone pipeline shutdown will last for several more days. TC Energy (TRP.TO) shut the largest oil pipeline to the United States from Canada on Wednesday after it leaked 14,000 barrels of oil into a Kansas creek. This is the third spill of several thousand barrels of crude on the pipeline since it first opened in 2010. A previous Keystone spill had caused the pipeline to remain shut for about two weeks. The oil spill has not threatened the local water supply or forced local residents to evacuate, Washington County Emergency Management Coordinator Randy Hubbard told Reuters.

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