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The Fed said in its statement that it will take previous tightening and policy lags into account before deciding its next steps. Wall Street wobbled, the implied terminal rate dipped a bit below 5.00%, then Wall Street wobbled some more. Investors would do well to remember that Powell is taking his inflation cues from the labor market. Remember, as recently as May, Powell said the Fed was not "actively considering" 75-bps rate hikes. But perhaps some froth will be taken from the recent mini-rally on Wall Street and beyond.

☆ UAW seeks election to represent GM battery joint venture workers
▼ + stars: | 2022-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Jonathan ErnstOct 31 (Reuters) - The United Auto Workers on Monday said it was seeking an election to represent workers at a General Motors (GM.N)/LG Energy (373220.KS) battery cell manufacturing joint venture in Ohio after the companies refused to recognize the union. In August, the Warren, Ohio Ultium plant began production, the first of least four planned U.S. battery factories by the joint venture. In May, President Joe Biden, in a trip to South Korea, expressed support for workers seeking to unionize joint venture battery plants. "For every joint venture that manufactures electric vehicle batteries would be made stronger by collective bargaining relationships with American unions," Biden said. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant expected to cost about $2.5 billion.

☆ Take Five: It's rate hike central
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +5 min

LONDON, Oct 28 (Reuters) - It's rate hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Graphics by Vincent Flasseur and Sumanta Sen.1/ FOUR IN A ROWA fourth straight jumbo 75-basis point (bps) interest rate hike is widely expected when the Federal Reserve meets on Nov 1-2. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. Inflation in the bloc hit 10.7%, accelerating from 9.9% last month and dashing hopes that peak inflation could be near. The European Central Bank just delivered its second 75 bps rate increase to control price pressures.

☆ Elon Musk and Donald Trump now own rival social networks. Here's a timeline of their rocky relationship.
▼ + stars: | 2022-10-31 | by ( Tim Levin | ) www.businessinsider.com time to read: +8 min

Former President Donald Trump said he's "very happy" that Elon Musk now owns Twitter. January 2020: 'One of our great geniuses'Former President Donald Trump speaks during a "Save America" rally in Anchorage, Alaska, on July 9, 2022. May 2020: Trump backs up Musk in feud with California covid rulesElon Musk meets Donald Trump at NASA's Kennedy Space Center in Cape Canaveral, Florida, U.S. May 30, 2020. May 2022: Musk said he would reinstate Trump's Twitter accountTesla CEO Elon Musk. July 2022: Trump lashes outFormer President Donald Trump gives the keynote address at the Faith and Freedom Coalition during their annual conference on June 17, 2022, in Nashville, Tennessee.

☆ 'We're going to hang you': DOJ cracks down on threats to election workers ahead of high-stakes midterms
▼ + stars: | 2022-10-27 | by ( Chelsey Cox | ) www.cnbc.com time to read: +8 min

That is just one example of the rising number of violent threats election workers in the days leading up to the Nov. 8 midterms. "These threats against election officials continue," Michael McDonald, a professor of political science at the University of Florida, told CNBC. Additional funding from the $1.9 trillion American Rescue Plan can also be used to protect election workers, Polite said. DOJ launched an election threats task force in July 2021 to ensure voters are safe at the polls and to look into the rise in threatening behavior against election workers like Moss. Jared Polis signed an act protecting election workers from threats, coercion or intimidation into law.

"These are junk fees," President Joe Biden told reporters at the Eisenhower Executive Office Building. The White House said the move could eliminate billions in banking fees. The agency said that both fees likely violate the Consumer Financial Protection Act's prohibition on unfair fees that are unavoidable to consumers. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019. He cited processing fees for concert tickets and resort fees at hotels as two items his administration is examining.

"These are junk fees. The agency said that both fees likely violate the Consumer Financial Protection Act's prohibition on unfair fees that are unavoidable to consumers. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019. He cited processing fees for concert tickets and resort fees at hotels as two items his administration is examining. There's tens of billions of dollars and other junk fees across the economy that I'm directing my administration to reduce or eliminate," Biden said.

☆ Biden: China's Xi knows we are not seeking conflict
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Oct 26 (Reuters) - President Joe Biden, meeting his top military advisers, said on Wednesday that the United States does not seek conflict with China and that Chinese President Xi Jinping knows this. U.S.President Joe Biden attends a meeting with Defense Department leaders in the State Dining Room at the White House in Washington, U.S. October 26, 2022. REUTERS/Jonathan ErnstBiden said the United States would continue to lead ona number of issues, from Russia's aggression in Ukraine to climate change to the Indo-Pacific region. "We do not seek conflict with them," he said of the Chinese. Reporting by Trevor Hunnicutt and Steve HollandOur Standards: The Thomson Reuters Trust Principles.

Thomas granted the Republican senator's request to halt the lower court's decision pending a further order to come, either from him or the Supreme Court. Graham, a Trump ally, filed the emergency application on Friday after a federal appeals court denied his request to block the questioning. Graham has argued that his position as a senator provides him immunity from having to appear before the grand jury. Testimony from Graham could shed further light on Trump allies coordinating to reverse the election results. Trump continues to appear at rallies repeating his false claims that the 2020 election won by Democrat Joe Biden was stolen from him through widespread voting fraud.

☆ GOP holds big leads on key economic issues ahead of the November elections, CNBC survey shows
▼ + stars: | 2022-10-20 | by ( Steve Liesman | ) www.cnbc.com time to read: +2 min

Jonathan Ernst | ReutersThe third-quarter CNBC All-America Economic Survey finds some modest improvements in economic attitudes and in President Joe Biden's approval ratings across the country, but Americans still harbor mostly negative views on the economy and give the GOP double-digit leads on key economic and financial issues ahead of the November elections. President Biden's overall approval rating improved 10 points from the July survey with 46% approving and 50% disapproving. Approval of Biden's handling of the economy also rose 10 points, with 40% approving and 56% disapproving. The gap is the same as the prior survey, which came in at 44%-42%. Zoom In Icon Arrows pointing outwards CNBC All-America Economic Survey

☆ U.S. Capitol attack panel opens, promising new details on Trump's role
▼ + stars: | 2022-10-13 | by ( Patricia Zengerle | ) www.reuters.com time to read: +4 min

Rain falls on the U.S. Capitol ahead of the final planned public hearing of the U.S. House Select Committee to investigate the January 6 Attack on the U.S. Capitol, on Capitol Hill in Washington, U.S. October 13, 2022. Register now for FREE unlimited access to Reuters.com RegisterThe hearing follows eight others the Democratic-led House committee held in June and July, as well as one in July 2021. It could be the last before the panel releases its final report, expected before the Nov. 8 midterm elections that will determine whether President Joe Biden's fellow Democrats or Trump's Republicans control Congress. The select committee has been investigating the attack on the Capitol for more than a year, interviewing more than 1,000 witnesses. The attack on the Capitol injured more than 140 police officers and led to several deaths.

☆ Yellen calls for allies to quickly disburse committed funds to Ukraine
▼ + stars: | 2022-10-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

We will continue to support you as you rebuild the prosperous and free Ukraine that your country has fought so hard to secure," Yellen told Marchenko and his delegation before a meeting. Register now for FREE unlimited access to Reuters.com RegisterWashington intended to disburse $4.5 billion in direct budget support to Ukraine in coming weeks, she said. Congress approved that funding two weeks ago, bringing total U.S. direct budget support for Ukraine to $13.5 billion - all in grants. "But let me be clear: international support for Ukraine is a collective effort. We are calling on our partners and allies to join us by swiftly disbursing their existing commitments to Ukraine and by stepping up in doing more — both to help Ukraine continue its essential government services and to help Ukraine begin to build and recover," she said.

☆ All eyes are on DeSantis' relationship with Biden as Hurricane Ian approaches Florida. Here's how the previous 3 presidents worked (or didn't) with governors on disaster relief efforts.
▼ + stars: | 2022-09-28 | by ( Isabella Zavarise | ) www.businessinsider.com time to read: +10 min

Governors usually work directly with the White House during disasters, relying on the government for federal resources. Here's a look at how the last three presidents handled disaster relief efforts and how Biden could address this crisis with DeSantis. However, on Tuesday evening, White House Press Secretary Karine Jean-Pierre tweeted that Biden and DeSantis had spoken to discuss steps the federal government is taking to help Florida. Here's how the last three presidents worked with governors in their disaster relief efforts. Biden declared a state of emergency as the storm approached, ordering federal assistance to supplement disaster response efforts.

☆ Gen X is late to the leadership table in US politics, prompting the question: Will it ever produce a president?
▼ + stars: | 2022-09-28 | by ( Darren Samuelsohn | ) www.businessinsider.com time to read: +21 min

By historical standards, Gen X should be in charge of the US by now. Think of them as the godparents of the "Xennials" — those born in the late 1970s or early 1980s who aren't fully Gen X or millennial. No matter whether you deny the 61-year-old Obama is a boomer, Gen X is starting to get up there in age. Michael Ciaglo-Pool/Getty ImagesWhat's the US missing without a Gen X president? "It's like seeing a ghost that doesn't appear," she said of any expectation the presidency would just suddenly open up for Gen X.

☆ Appeals court stops short of declaring Donald Trump immune from rape accuser claim
▼ + stars: | 2022-09-27 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Former U.S. President Donald Trump rallies with his supporters at Wilmington International Airport in Wilmington, North Carolina, U.S. September 23, 2022. REUTERS/Jonathan Ernst/File PhotoNEW YORK, Sept 27 (Reuters) - A federal appeals court on Tuesday stopped short of declaring Donald Trump immune from author E. Jean Carroll's defamation lawsuit, saying it needed guidance on whether Trump was acting as U.S. president when he denied raping her. Circuit Court of Appeals in Manhattan asked an appeals court in Washington to weigh in on whether the laws of that district shielded Trump from liability. The Manhattan court also handed Trump a victory in declaring he was a U.S. government "employee" when he allegedly defamed Carroll, a condition underlying his immunity claim. Roberta Kaplan, a lawyer for Carroll, said in a statement she was "confident" the District of Columbia court would let the case proceed.

☆ Home to 28,000 U.S. troops, S.Korea unlikely to avoid a Taiwan conflict
▼ + stars: | 2022-09-26 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

China is South Korea's largest economic partner, and Seoul could find itself on the literal front lines of any regional military conflict. But when asked whether South Korea will help the United States if China attacks Taiwan, Yoon did not directly answer. South Korean troops fought alongside Americans in Vietnam and supported the wars in Afghanistan and Iraq, but questions of future involvement are up to South Korea alone, LaCamera said. In response, South Korean Vice Defence Minister Shin Beom-chul told broadcaster MBC that there had been no such discussions between Washington and Seoul. Cho said North Korea could support China in a Taiwan conflict by launching an attack on South Korea, or simply use the conflict as a chance to push forward with its nuclear or missile development.

☆ SEC charges three in N.J. deli $100 million valuation scheme
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterThe U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst//File PhotoWASHINGTON, Sept 26 (Reuters) - The Securities and Exchange Commission charged three men on Monday in a scheme that resulted in a $100 million valuation for a New Jersey deli and a separate shell company, the agency said on Monday. "We allege that the defendants’ brazen schemes resulted in the artificial inflation of the stock price of two publicly traded companies with little to no annual revenues,” said Scott Thompson of the agency's enforcement office in Philadelphia. Register now for FREE unlimited access to Reuters.com RegisterReporting by Doina Chiacu and Tyler Clifford; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

U.S. President Joe Biden delivers remarks to the Democratic National Committee (DNC) Winter Meeting in Washington, U.S., March 10, 2022. At a Democratic National Committee rally, Biden suggested the two extra Democrats would allow the Democratic-controlled Senate to remove a legislative roadblock known as the filibuster that requires a 60-vote majority to overcome. Democrats hold a bare majority in the Senate now, and two Democratic senators, Joe Manchin of West Virginia and Kyrsten Sinema, have opposed ending the filibuster. Register now for FREE unlimited access to Reuters.com RegisterBiden's remark suggests he would support a vote to end the filibuster, which can be decided by a simple majority. Biden exhorted women voters to help elect Democrats.

☆ Yellen says Russia offering 'enormous discounts' on oil to China, India
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

U.S. Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the U.S. Treasury Department in Washington, U.S. July 28, 2022. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Sept 22 (Reuters) - A planned Western price cap on Russian oil is already making a difference, U.S. Treasury Secretary Janet Yellen said on Thursday, noting that Russia was now offering China and India "enormous discounts" while looking for other outlets for its oil. In December, Europe would halt the bulk of its purchases of 3 million barrels per day, putting additional pressure on Russia to find new buyers for its oil, Yellen told a conference hosted by The Atlantic magazine. Europe was facing a tough winter with tight energy supplies as it decoupled from Russian energy, Yellen said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Breakingviews: Fed makes inflation fight Joe Biden’s problem
▼ + stars: | 2022-09-21 | by ( John Foley | ) www.reuters.com time to read: +4 min

For now, the Fed thinks it can manage this without a hard landing. Even so, Powell is correct to say that inflation is worse than even a reversal in growth. Around half of small businesses now say inflation is their biggest challenge, according to the U.S. Chamber of Commerce, and the public agrees, a Pew survey showed in May. The Fed said in a statement that inflation remained elevated, echoing its previous statement in July, with “modest growth” in spending and production. In its updated set of economic projections, the Fed forecast 4.4% unemployment in 2024, compared with its previous forecast of 4.1%.

☆ U.S. welcomes Modi telling Putin now is 'not an era of war'
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden and India's Prime Minister Narendra Modi hold a bilateral meeting alongside the Quad Summit at Kantei Palace in Tokyo, Japan, May 24, 2022. REUTERS/Jonathan Ernst/File PhotoNEW DELHI, Sept 21 (Reuters) - The United States has welcomed Indian Prime Minister Narendra Modi's comment to Russian President Vladimir Putin that now was not the time for war, New Delhi's sharpest public response to Russia's invasion of Ukraine. Modi had spoken regularly to Putin since the war began in February, seeking dialogue and peace talks, but without publicly condemning the war. On the sidelines of a conference in Uzbekistan on Friday, Modi had told Putin, "Today's era is not an era of war, and I have spoken to you on the phone about this," and added that democracy, diplomacy and dialogue kept the world together. Register now for FREE unlimited access to Reuters.com RegisterReporting by Krishna N. Das; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Biden to deliver firm rebuke to Russia's war in Ukraine at U.N.
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: 1 min

U.S. President Joe Biden gestures as he talks with the media following Senate Democratic lunch to discuss the party's push to enact voting rights legislation and possible changes to Senate rules, on Capitol Hill in Washington, U.S., January 13, 2022. REUTERS/Jonathan Ernst/File PhotoRegister now for FREE unlimited access to Reuters.com Register

REUTERS/Jonathan ErnstWASHINGTON, Sept 20 (Reuters) - U.S. President Joe Biden will try to rally the world against Russia's invasion of Ukraine in a speech to the United Nations General Assembly on Wednesday, saying Moscow's war against its neighbor violates the tenets of the U.N. charter that established the post-World War Two body. Biden departs on Tuesday to join the conclave of world leaders in New York. Register now for FREE unlimited access to Reuters.com RegisterBut he said Biden will urge all nations to see that Russia's war against Ukraine is a violation of the U.N.'s 1945 charter signed by the countries that fought the Axis Powers in World War Two. The Ukraine war was necessary because expansion of the U.S.-led Western military alliance NATO represented an existential threat to Russia, Putin has said. read moreSullivan said every country should make a case against Russia's war.

☆ Pacific islands a key U.S. military buffer to China's ambitions - report
▼ + stars: | 2022-09-20 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

U.S. Secretary of State Mike Pompeo's plane makes its landing approach on Pohnpei International Airport in Kolonia, Federated States of Micronesia August 5, 2019. China had made progress in the Pacific on geostrategic goals it has been unable to achieve elsewhere, said the report for the United States Institute for Peace, whose co-authors include former senior military officials. This was cause for concern but not alarm, the report added, saying the U.S. should bolster support for island states in the north Pacific where it had the strongest historical ties. A U.S. missile defence test range in the Marshall Islands is critical to U.S. space and missile-defense capabilities, it added. "China views the Pacific Islands as an area of significant strategic interest," it said.

REUTERS/Jonathan ErnstWASHINGTON, Sept 20 (Reuters) - The U.S. House of Representatives committee investigating the Jan. 6, 2021, attack on the U.S. Capitol is planning to hold its next hearing on Sept. 28, the panel's chairman said on Tuesday. Representative Bennie Thompson told reporters he expected the public hearing would be the panel's last, unless something else happens. A spokesman for the Select Committee declined comment, saying he had no schedule updates to report. The Department of Justice is conducting its own investigation about efforts by Trump and his allies to overturn the 2020 election. Register now for FREE unlimited access to Reuters.com RegisterReporting by Patricia Zengerle; Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

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