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☆ Analysis: President Joe Biden just secured a big win from his Europe trip
▼ + stars: | 2023-07-11 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —President Joe Biden has already secured a powerful deliverable from his Europe trip – one that will weaken Russia’s strategic position in another detrimental consequence of its invasion of Ukraine. Once Sweden finally joins NATO, it will bolster Biden’s reputation as a US leader who reinvigorated and expanded the bloc. Biden had said before leaving the US that Ukraine was not ready to join. Erdogan’s move was also a severe blow to Russian President Vladimir Putin. “This really isn’t about Sweden, this is about the United States and Turkey and Turkey’s role,” she told Jake Tapper.

Persons: Joe Biden, Recep Tayyip Erdogan, Finland –, Ukraine –, George H.W, George H.W . Bush, Biden, Erdogan’s, Vladimir Putin, Putin, Erdogan –, –, Russia’s, Erdogan, Jens Stoltenberg, ” Stoltenberg, Jake Sullivan, Ulf Kristersson, “, ” Sullivan, Chuck Schumer, ”, Stoltenberg, Sen, Bob Menendez, Menendez, National Intelligence Beth Sanner, Jake Tapper, Volodymyr Zelensky Organizations: CNN, NATO, European Union, Kremlin, West, East, NATO “, Swedish, New, New York Democrat, America, EU, Kurdistan Workers ’ Party, Senate Foreign Relations, The New, The New Jersey Democrat, “, National Intelligence Locations: Europe, Ukraine, Lithuania, Sweden, Turkey, Finland, George H.W ., Germany, Russia, United States, Washington, Syria, Madrid, Vilnius, ”, New York, Ankara, Eurasia, Turkish, Stockholm, Greece, The, The New Jersey, “ Turkey, Mariupol

VILNIUS, July 11 (Reuters) - Washington will move ahead with the transfer of F-16 fighter jets to Turkey in consultation with Congress, U.S. National Security Adviser Jake Sullivan said on Tuesday, a day after Ankara gave the green light for Sweden to join NATO. He intends to move forward with that transfer," Sullivan told reporters, without giving any details on the timing. Both Turkish officials and the Biden administration have rejected any suggestion that Ankara's approval of Sweden's NATO accession was being linked to the F-16 sale in the months of talks to address Turkish opposition. Russian officials said Sweden's expected accession to NATO would have "negative implications" for Russia's security and that Moscow would have to respond. TIMING UNCERTAINThe timing of both the F-16 transfer and Sweden's NATO entry remains unclear.

Persons: Jake Sullivan, Sullivan, Joe Biden, Bob Menendez, Biden, Tayyip Erdogan, Camille Grand, Erdogan, Gerard Araud, Sweden's, Peter Szijjarto, Jens Stoltenberg, Steve Holland, Justyna, John Irish, Nick Macfie, Heather Timmons, Devika Organizations: U.S . National, NATO, Lockheed Martin Corp, Senate Foreign Relations, Democrat, Turkish, European Council, Foreign Relations, Twitter, Kurdistan Workers Party, EU, Monday, Finland's, Nordic, Thomson Locations: VILNIUS, Washington, Turkey, U.S, Ankara, Sweden, Lithuanian, Vilnius, NATO, French, Swedish, United States, Turkey's, Moscow, Hungary, Finland, Ukraine

Sweden broke from decades of neutrality following the Russian invasion of Ukraine last year by seeking to join NATO. Mr. Erdogan has also invested himself deeply in the matter, having long insisted that Western nations do not take his concerns about Kurdish terrorism seriously enough. U.S. officials insist their support for the arms sale is not linked to Mr. Erdogan’s position on Sweden. But after a late May phone call with the Turkish leader, Mr. Biden told reporters:“He still wants to work on something on the F-16s. Analysts say it is unclear whether Mr. Biden can convince them to change their position.

Persons: Erdogan, Biden, Mr, Bob Menendez Organizations: NATO, Sweden, Bloomberg, Senate Foreign Relations, Bob Menendez of New Locations: Ukraine, Hungary, Turkey, Sweden, Washington . U.S, Bob Menendez of, Bob Menendez of New Jersey

☆ Inside the furious debate over New York City's new tax on drivers, which New Jersey Democrats are fighting against tooth and nail
▼ + stars: | 2023-07-02 | by ( Eliza Relman | ) www.businessinsider.com time to read: +11 min

Long gone are the days of eerily deserted Manhattan streets as New York City ground to a near-halt during the height of the COVID-19 pandemic. Cars fill Midtown amid the coronavirus pandemic on March 19, 2021 in New York City. The Empire State Building and Tourist District are seen while Traffic jam is reported along the route to New York City on August 17, 2022, in Jersey City, New Jersey. Komanoff said most congestion pricing advocates agree — they don't want drivers who enter lower Manhattan through the tunnels to pay the full congestion toll. But congestion pricing still has a long way to go, particularly as long as New Jersey leaders stand in the way.

Persons: Kathy Hochul's, Long, Kathy Hochul, Gottheimer, Jersey Sen, Bob Menendez, Phil Murphy, Noam Galai, it's, Charles Komanoff, Komanoff, Sam Schwartz, Eduardo Munoz Alvarez, George Washington, Sen . Menendez, Bill Pascrell, Schwartz, Hochul, Murphy, Sarah Kaufman, University's, Ritchie Torres, Tom Williams, Torres, he's Organizations: Gov, New, New Jersey Democrats, Morning, Metropolitan Transportation Authority, New York Gov, Central Business District, Federal Highway Administration, MTA, Democratic, New York Supporters, New York, Mexico City, George Washington Bridge, Center for Transportation, New York Rep, Garden, Komanoff, Democratic Rep Locations: New York City, Manhattan, New Jersey, ., Jersey, New York, New, London, Stockholm, Singapore, York, Toronto, Mexico, Seattle, Los Angeles, Chicago, Boston, Jersey City , New Jersey, Holland, Lincoln, Bronx

☆ Congestion pricing is coming to New York City, officials announce
▼ + stars: | 2023-06-26 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

CNN —New York City has been cleared to implement congestion pricing, a practice that allows the city to charge drivers entering Lower Manhattan, New York Gov. The plan would also mark the culmination of more than a half-century of efforts to implement congestion pricing in New York City. Ultimately, it was the need to improve New York City’s public transit that became the rallying cry for congestion pricing. The stakes of New York City’s program are high, and leaders in other cities are watching the results closely. “It’s good to see New York City’s program is moving forward,” said the Los Angeles Times Editorial Board last month.

Persons: Kathy Hochul, ”, Michael Bloomberg, Andrew Cuomo —, Kate Slevin, Sam Schwartz, Hochul, “, US Sen, Bob Menendez, Josh Gottheimer, Bill Pascrell, Jr, Washington, CNN’s Gregory Wallace, Rob Frehse Organizations: CNN, New, Lower Manhattan , New York Gov, Federal, Administration, Central Business District, Federal Highway Administration, New York Metropolitan Transportation Authority, ” New York Gov, United, United States Each, MTA, Regional Plan Association, “, Democratic New, US, London, Drivers, Los Angeles Times Locations: New York City, Lower Manhattan ,, Manhattan, United States, New York, Lower Manhattan, New Jersey, Democratic New Jersey, Holland, Lincoln, Jersey, That’s, Stockholm, London, Singapore, York, Los Angeles

☆ US advances New York City vehicle congestion pricing plan
▼ + stars: | 2023-06-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

June 26 (Reuters) - A New York City plan to charge a daily toll on vehicles entering or remaining in the central business district got a boost on Monday from the U.S. Department of Transportation, which said the city had adequately assessed how the congestion charge would help the environment. Menendez has introduced legislation that would cut 50% of federal highway grant funding to New York state if the plan goes ahead. In May, USDOT approved release of the final environmental assessment for New York's congestion pricing plan for public review. Following entry into a tolling agreement, tolling could begin up to 310 days later, the city said in May. New York City, which has the most congested traffic of any U.S. city, would become the first major city in the U.S. to follow London, which implemented a similar charge in 2003.

Persons: Bob Menendez, Josh Gottheimer, Bill Pascrell, Menendez, USDOT, Donald Trump, David Shepardson, Mark Porter, Matthew Lewis Organizations: U.S . Department of Transportation, Administration, Democratic, York Metropolitan Transportation Authority, . New, Thomson Locations: York City, U.S, New Jersey, New York, Midtown Manhattan, . New York City, London, ., . New York, Manhattan, Washington

"It was a day of pain and rage," demonstrator Luisa Menendez, 73, told Reuters, referring to June 24, 2022. In a report released to mark the anniversary, Amnesty International accused Spain and Morocco of a cover-up for failing to properly investigate events at the Melilla border last year. In the incident, around 2,000 migrants and refugees from sub-Saharan Africa attempted to enter Melilla from Morocco. Separately, the Council of Europe Commissioner for Human Rights said last month there is "no genuine and effective access to asylum at the border" between Nador (Morocco) and Melilla. Reporting by Joan Faus and Elena Rodriguez Editing by Alexandra Hudson and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Luna Reyes, Read, Luisa Menendez, Spain, Beatriz Sanchez, Joan Faus, Elena Rodriguez, Alexandra Hudson, Frances Kerry Organizations: Borders, Moroccan, Reuters, Amnesty International, Amnesty, Spain's Interior Ministry, Migration Affairs, of, Human Rights, Thomson Locations: Spanish, Morocco, Spain, El, Ceuta, MADRID, BARCELONA, Europe, Melilla, Madrid, Africa, Nador

Inflation has "started to abate" but the Fed will remain focused on returning it to the 2% target, Fed governor and vice chair nominee Philip Jefferson said in testimony prepared for his confirmation hearing on Wednesday before the Senate Banking Committee. "The economy faces multiple challenges, including inflation, banking-sector stress, and geopolitical instability. "Inflation has started to abate, and I remain focused on returning it to our 2% target." As a group, Fed policymakers last week signaled two more interest-rate hikes are likely by the end of the year. The Senate Banking committee on Tuesday also released prepared remarks from Fed Board nominee Adriana Kugler, who said returning inflation to the central bank's 2% target is key to setting a strong foundation for the U.S. economy.

Persons: Philip Jefferson, Jefferson, Lisa Cook, ” Cook, Cook, Adriana Kugler, " Kugler, Kugler, Bob Menendez, Menendez, Howard Schneider, Michael S, Dan Burns, Ann Saphir, Matthew Lewis Organizations: Reserve, Committee, Federal, World Bank, Fed, of Governors, Senate, Derby, Thomson Locations: Washington, U.S, New York, Berkeley , California

☆ Republicans Attack Blinken for China Trip, Threatening Subpoena
▼ + stars: | 2023-06-16 | by ( Karoun Demirjian | ) www.nytimes.com time to read: +2 min

Why It MattersThe clash reflects two divergent approaches to dealing with a rising China, and could influence forthcoming debates over military spending. Relations between the two countries experienced another setback earlier this year, when the Chinese spy balloon floated over the United States, hovering near sensitive military sites. Mr. Blinken canceled a planned trip to Beijing in the aftermath of the balloon incident. What’s NextMr. McCaul is trying to prove that State Department officials intentionally dragged their feet on punishing China by demanding to see the department’s so-called competitive actions calendars. The State Department was not expected to meet the 6 p.m. deadline Mr. McCaul set for producing the documents.

Persons: Biden, fecklessly, ”, Mike Gallagher, Robert Menendez, Nancy Pelosi’s, Blinken, What’s, McCaul Organizations: Republican, Robert Menendez of New, Foreign Relations, United, Beijing, Department, China, The State Department Locations: China, United States, Taiwan, Wisconsin, Robert Menendez of, Robert Menendez of New Jersey, Beijing, Cuba

☆ Senate Democrats pressure PayPal, Venmo, Cash App over fraud protections
▼ + stars: | 2023-06-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Senate Democrats on Thursday urged PayPal and Cash App to better protect users of their peer-to-peer payment applications from fraud. The letters were sent to PayPal president and CEO Dan Shulman and Cash App CEO Brian Grassadonia. PayPal, Venmo and Cash App did not immediately respond to a request for comment from CNBC. Cash App transactions also brought in over $203 billion in inflows among 51 million monthly users as of December 2022, according to a Block annual report. The letter is part of an ongoing inquiry into P2P platform consumer safety spearheaded by Warren over the past several years.

Persons: Sen, Sherrod Brown of, Massachusetts Sen, Elizabeth Warren, Rhode Island Sen, Jack Reed, Jack Reed and New Jersey Sen, Bob Menendez, Dan Shulman, Cash, Brian Grassadonia, PayPal's, Warren, Menendez, Reed Organizations: PayPal, Massachusetts, Block, CNBC, Pew Research Center Locations: WASHINGTON, Sherrod Brown of Ohio, Rhode Island, Jack Reed and New Jersey

He said the United States has had "real concerns" about China’s relationship with Cuba and was closely monitoring it. Brigadier General Patrick Ryder, a U.S. Defense Department spokesperson, said: "We are not aware of China and Cuba developing a new type of spy station." If such a facility is built, the Chinese will use Cuba "as a beachhead for collection against the United States," said Daniel Hoffman, a former senior CIA undercover officer. Cuba, an old Cold War foe of the United States, has long been a hotbed of espionage and spy games. It backed down and removed the missiles, but it is widely regarded as the moment when the United States and the Soviet Union came closest to a nuclear confrontation.

Persons: Fort Bragg, John Kirby, General Patrick Ryder, Jose Cabanas, Washington, Joe Biden's, Antony Blinken, Washington's, House's Kirby, Bob Menendez, ”, Daniel Hoffman, Biden, Vladimir Putin, Matt Spetalnick, Jonathan Landay, Doina Chiacu, Trevor Hunnicutt, David Brunnstrom, Patricia Zengerle, Dave Sherwood, Michael Martina, Kanishka Singh, Phil Stewart, Idrees Ali, Nick Zieminski, Alistair Bell, Daniel Wallis Organizations: Wall Street, White House, Pentagon, U.S, U.S . Central Command, Tampa . Fort Liberty, Fort, White House National Security Council, Reuters, U.S . Defense Department, Embassy, Senate Foreign Relations, CIA, Taiwan’s National Security Bureau, Cuban, Moscow, Soviet Union, Thomson Locations: China, Cuba, Florida, Beijing, U.S, Tampa . Fort, North Carolina, United States, Washington, Cuban, America's, Coast, South, Taiwan, South China, Havana, Soviet, Lourdes, Russian

Such a spy installation would allow Beijing to gather electronic communications from the southeastern United States, which houses many U.S. military bases, as well as monitor ship traffic, the newspaper reported. The countries have reached an agreement in principle, the officials said, with China to pay Cuba "several billion dollars" to allow the eavesdropping station, according to the Journal. The intelligence on the plans for a Cuba station was gathered in recent weeks and was convincing, the Journal reported. Cuba, an old Cold War foe of the United States, has long been a hotbed of espionage and spy games. It backed down and removed the missiles, but it is widely regarded as the moment when the United States and the Soviet Union came closest to a nuclear confrontation.

Persons: Fort Bragg, John Kirby, Biden, Antony Blinken, Washington's, Bob Menendez, ”, Vladimir Putin, Doina Chiacu, Matt Spetalnick, David Brunnstrom, Patricia Zengerle, Dave Sherwood, Jonathan Landay, Nick Zieminski, Alistair Bell Organizations: Wall Street, U.S, U.S . Central Command, Tampa . Fort Liberty, Fort, White House National Security Council, Embassy, Senate Foreign Relations, Capitol, Reuters, Taiwan’s National Security Bureau, Cuban, Moscow, Soviet Union, Thomson Locations: China, Cuba, Florida, Beijing, United States, Tampa . Fort, North Carolina, People’s Republic, Washington, Cuban, U.S, America's, Coast, South, Taiwan, South China, Havana, Soviet, Lourdes, Russian

Sen. Bob Menendez (D., N.J.) chairs the Senate Foreign Relations Committee. Photo: Al Drago/Bloomberg NewsSen. Bob Menendez hosted a 2018 meeting in his Washington, D.C., office with a New Jersey businessman who is a focus of a federal public-corruption probe of the Democratic lawmaker that has broadened in recent weeks, according to people familiar with the matter. The meeting, which hasn’t been previously reported, came months before the businessman, Wael Hana , secured a contract with Egyptian officials for certifying halal meat exports. The contract is a key part of the probe examining whether Menendez, who chairs the Senate Foreign Relations Committee, or his wife received gifts in exchange for political favors.

Persons: Sen, Bob Menendez, Al Drago, Bloomberg News Sen, hasn’t, Wael Hana, Menendez Organizations: Foreign Relations, Bloomberg News, D.C, Democratic Locations: N.J, Washington, New Jersey

☆ The Senate just passed a bill to block student-loan forgiveness and immediately end the payment pause
▼ + stars: | 2023-06-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Senate just passed a bill to overturn student-debt relief and end the payment pause. On Thursday, the Senate passed a bill — first introduced in March — to overturn Biden's plan to cancel up to $20,000 in student debt for federal borrowers making under $125,000 a year by a vote of 52-46. Chuck Grassley and Bill Cassidy — sponsors of the bill — wrote an opinion piece in Fox News urging their colleagues in the Senate to pass the legislation to overturn student-loan forgiveness. Before the vote, Senate Majority Leader Chuck Schumer wrote on Twitter that "the Senate GOP is pushing a terrible measure to end the pause on student loan payments and overturn @POTUS's student loan cancellation program. But to overturn his landmark student debt relief program just to score political points?

Persons: Biden, —, Joe Biden's, Democratic Sens, Joe Manchin, Jon Tester, Independent Sen, Kyrsten Sinema, Chuck Grassley, Bill Cassidy —, Chuck Schumer, Massachusetts Sen, Elizabeth Warren, New Jersey Democratic Sen, Bob Menendez Organizations: Service, Democratic, Independent, Republicans, GOP, Fox News, Senate, Twitter, House Republicans, New, New Jersey Democratic Locations: Massachusetts, New Jersey

[1/3] A Turkish Air Force F-16 fighter jet ( C foreground) is seen between U.S. Air Force A-10 Thunderbolt II fighter jets at Incirlik airbase in the southern city of Adana, Turkey, December 11, 2015. "Now what's important is how does Erdogan want to move into the future with Turkey. NATO member Turkey requested in October 2021 to buy $20 billion of Lockheed Martin Corp (LMT.N) F-16 fighters and nearly 80 modernization kits for its existing warplanes. President Joe Biden's administration has said it supports the sale and has been in touch for months with Congress to win its approval. Secretary of State Antony Blinken urged Turkey on Tuesday to immediately finalize Sweden's accession to NATO, and rejected the suggestion that the Biden administration is linking Turkey's approval of Sweden's NATO accession to the F-16 sale.

Persons: Bektas, Tayyip Erdogan, Erdogan, he's, Bob Menendez, we've, I've, Menendez, Joe Biden's, Biden, Washington, Sweden's, Antony Blinken, Blinken, Patricia Zengerle, Stephen Coates Organizations: Turkish Air Force, . Air Force, REUTERS, NATO, Senate Foreign Relations, Turkey, Lockheed Martin Corp, House Foreign, Thomson Locations: Adana, Turkey, Bektas WASHINGTON, Turkish, Sweden, Ankara

☆ Premarket stocks: Senators blame excessive CEO pay for regional bank failures
▼ + stars: | 2023-05-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Joseph DePaolo, the former CEO of Signature Bank, received about $8.6 million. Becker said his cash and stock bonuses were “predetermined” and that he wasn’t aware of when they would be paid out. “If you’d bought those hedges [against Treasuries purchased by the bank], that would have cut into your profits, wouldn’t it? “And when the banks blow up, Mr. Becker and Mr. Shay get to keep all the money. And that is just plain wrong.”ChatGPT goes to WashingtonOpenAI CEO Sam Altman also made his way to the Senate on Tuesday.

☆ New Jersey’s Senators Push Back on Congestion Pricing
▼ + stars: | 2023-05-15 | by ( Ana Ley | ) www.nytimes.com time to read: +2 min

Many transit advocates, community leaders and urban planning experts in New York have celebrated the progress made toward congestion pricing this month, saying it was long overdue. The loudest opposition to the program has come from New Jersey. Mr. Murphy on Monday also unveiled an advertising campaign criticizing the program, complete with billboards near interstate crossings. Other opponents of congestion pricing have included taxi drivers and Lyft and Uber drivers, who worry that fare increases triggered by the tolls could slash demand for taxis and for-hire rides by up to 17 percent. says the program, which would affect drivers entering Manhattan south of 60th Street, could begin as soon as spring 2024.

☆ New Jersey senators seek to delay New York City congestion pricing plan
▼ + stars: | 2023-05-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, May 15 (Reuters) - New Jersey's two Democratic senators and the state's governor said on Monday they are seeking to halt a plan by New York City to adopt a congestion pricing plan in Manhattan, which would be the country's first. Senators Bob Menendez and Cory Booker urged U.S. Transportation (USDOT) Secretary Pete Buttigieg not to grant final approval to environmental reviews needed to implement the congestion pricing plan after his department gave a key approval on May 5. Governor Phil Murphy said he would work "to halt implementation of this misguided tolling plan" and said the state is assessing legal options. Earlier this month, USDOT approved release of the final environmental assessment for New York's congestion pricing plan for public review. New York said drivers could face a traffic congestion charge of up to $23 a day.

If confirmed, Kugler, a Colombian-American, would be the first Latino to serve on the Fed board, marking the latest effort by Biden to improve the central bank’s diversity. Kugler, who is currently on leave from Georgetown University, previously worked in the Obama administration as the Labor Department’s chief economist. Getty Images/AlamyJefferson, who joined the Fed as a governor a year ago, has been tapped by Biden to the influential role of vice chair, serving as the No. He joined the Fed board in May 2022, after winning broad bipartisan support during his congressional confirmation process. He taught economics at Swarthmore College, Columbia University and the University of Virginia, and served as a high-ranking administrator at Davidson College.

☆ Dianne Feinstein once mistook GOP Sen. Tim Scott for Democratic Sen. Raphael Warnock, book says
▼ + stars: | 2023-05-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Dianne Feinstein once mistook two different Black senators, according to a story relayed in a new book. She confused GOP Sen. Tim Scott for Democratic Sen. Raphael Warnock, saying she'd been rooting for him. Scott reportedly played along, telling Feinstein that her "support means a lot." Scott, a Republican who's served in the Senate since 2013, is said to have played along with Feinstein's apparent confusion. Dean Phillips 🇺🇸 🟧 (@RepDeanPhillips) April 12, 2023But on Wednesday, Feinstein finally returned to the Capitol, continuing to suffer balance and vision impairments.

☆ Greg Abbott's gun law avoidance strategy in the aftermath of the Texas mall shooting
▼ + stars: | 2023-05-08 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

“I hear our governor talking about mental health issues,” Spainhouer said of Texas Gov. Greg Abbott during a Monday appearance on “CNN This Morning.”“We’re always going to have mental health issues. “Until we take some definite actions, we’re changing the narrative about it being just a mental health issue and start doing something about the guns,” he added. Texas ranks last on mental health accessIt was a major understatement for Abbott to say that Texas merely lags on mental health. A report from the nonprofit Mental Health America places the state at or near the bottom of multiple metrics for mental health care.

☆ Biden administration to send 1,500 troops to southern border for support roles ahead of expected migrant surge
▼ + stars: | 2023-05-02 | by ( Natasha Bertrand Priscilla Alvarez Haley Britzky | Natasha Bertrand | Priscilla Alvarez | ) edition.cnn.com time to read: +4 min

As they’ve done before, the troops would serve in administrative roles and not perform any law enforcement function, the sources said. “At the request of DHS, DOD will provide a temporary increase of an additional 1,500 military personnel, for 90 days, to supplement CBP efforts at the border. These 1,500 military personnel will fill critical capability gaps, such as ground-based detection and monitoring, data entry, and warehouse support, until CBP can address these needs through contracted support. They will not be doing any law enforcement work,” a US official said in a statement. Austin approved a deployment of 2,500 troops to the border, who remain there now, and the 1,500 troops are expected to join them in the coming days.

☆ White House Close to Tapping Philip Jefferson for Fed Vice Chair, Adriana Kugler for Board
▼ + stars: | 2023-05-01 | by ( Andrew Restuccia | Nick Timiraos | ) www.wsj.com time to read: +1 min

Philip Jefferson has indicated support for the Federal Reserve’s efforts to raise interest rates rapidly to slow the economy and bring down inflation. Photo: Ken Cedeno/Press PoolWASHINGTON—President Biden is close to nominating Federal Reserve governor Philip Jefferson to serve as the central bank’s second-in-command and Adriana Kugler, an economist and top World Bank official, to fill a vacancy on the Fed’s board, according to people familiar with the matter. If confirmed, Ms. Kugler, a Colombian-American economist who now serves as the U.S. executive director at the World Bank, would be the first Latino to serve on the board. Mr. Jefferson would be the Fed’s second Black vice chair. Mr. Biden faced pressure from Sen. Robert Menendez (D., N.J.), a senior member of the Senate Banking Committee, to nominate a Latino economist to the central bank, which has never had a Latino serve as a Fed governor or Fed president.

☆ A new bipartisan bill would make sure government and nonprofit workers can get student-loan forgiveness — even if they leave public service after 10 years
▼ + stars: | 2023-04-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The bill would eliminate the requirement to be employed in public service at the time of debt relief. It would ensure that borrowers that complete the required 120 qualifying payments will get loan forgiveness. The Public Service Loan Forgiveness (PSLF) program was created in 2007 to give government and nonprofit workers student-loan forgiveness after ten years, or 120 qualifying payments. "Since its creation, the Public Service Loan Forgiveness program has had persistent issues that have made it difficult for public service employees to access student debt relief in exchange for their dedicated service to our nation," Menendez said in a statement. "Our public servants, like police officers and teachers, rightfully have access to student loan forgiveness after ten years of public service," Houlahan said in a statement.

WASHINGTON, April 19 (Reuters) - British pop star Elton John urged U.S. senators on Wednesday not to ease up on the fight against HIV and AIDS, as Congress faces a September deadline for reauthorizing the multi-billion-dollar U.S. program to fight the disease. Congress must reauthorize PEPFAR for another five years before Sept. 30. REUTERS/Anna GordonA set amount has not been set for the reauthorization, but Congress typically has approved $6.5 billion to $6.9 billion for PEPFAR each year. Global AIDS Coordinator John Nkengasong told the committee PEPFAR has saved 25 million lives and created health networks that have helped fight outbreaks of Ebola and the COVID-19 pandemic. "I urge my colleagues to join me in working to reauthorize PEPFAR without delay and without new mandates and directives," said Senator Jim Risch, the panel's top Republican.

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