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WASHINGTON — To hear Republican nominee Donald Trump and his running mate JD Vance tell it, he wasn’t trying to eliminate the Affordable Care Act as president. “Obamacare was lousy health care. Vance added: “It illustrates Donald Trump’s entire approach to governing, which is to fix problems.”Both Trump and Vance are misrepresenting the facts. As president, Trump fought to repeal and undo the ACA using executive action, legislation and lawsuits. “Which means no actual plan.”“And 45 million Americans are insured through the Affordable Care Act,” she said.
Persons: WASHINGTON, Donald Trump, JD Vance, , Trump, Sen, Vance, , “ Obamacare, It’s, , ” Trump, Kamala Harris, could’ve, Donald Trump’s, “ Trump, Larry Levitt, Republicans — Sens, Lisa Murkowski, Susan Collins of, John McCain, Arizona —, McCain, ” Levitt, Barack Obama’s, Joe Biden, doesn't, Karoline Leavitt, Leavitt, ” Harris Organizations: ABC, Democratic, Trump, Protection, Republican, American Health Care, Office, House Republicans, Republicans, ACA, Medicare Locations: R, Ohio, Alaska, Susan Collins of Maine, Arizona, Greensboro , North Carolina
Two former high-ranking New York City Fire Department chiefs were indicted by federal prosecutors Monday on charges of pocketing bribes to expedite fire safety reviews. The charges come as Mayor Eric Adams' administration has been under scrutiny from prosecutors from the U.S. Attorney's office in Manhattan. "New Yorkers deserve better," U.S. Attorney Damian Williams said at a press conference where he announced the charges against the former chiefs, Anthony Saccavino and Brian Cordasco. Jocelyn Strauber, head of the New York City Department of Investigation, told reporters all the sites have since been re-inspected. Both are no longer with the FDNY — Saccavino retired in March and Cordasco retired in June.
Persons: Eric Adams, Edward Caban, Damian Williams, Anthony Saccavino, Brian Cordasco, Cordasco, Williams, Jocelyn Strauber, Saccavino, Robert Tucker, Adams, Caban’s, Sheena Wright, Public Safety Philip Banks III, , ” Williams Organizations: New York, New York City Fire Department, Police, U.S, FDNY, department's, of Fire Prevention, New York City Department of Investigation, Department, FBI, Public Safety Locations: New York City, Manhattan
However, according to experts we spoke with, buying a mattress online can be an incredibly successful endeavor because there are so many online, direct-to-consumer options that aren’t available in stores. | Tips for shopping for a mattress online | Where to shop for a mattress online | Why trust NBC Select? How to shop for a mattress onlineIf you want to shop for a mattress online, it’s helpful to arm yourself with some tools and tactics to make sure you make the best purchase possible. Where to shop for a mattress onlineWant to shop for a mattress online but don’t know where to start? For this story, she interviewed experts on how to shop for a mattress online.
Persons: , Jeff Kahn, there’s, Kahn, You’ll, Ben Trapskin, Yawnder, , it’s, Foster, Casper, Bethany Heitman, TikTok Organizations: NBC, Amazon, Sealy, Walmart, Mattress Firm, Stearns, Facebook, Twitter Locations: Casper, Tempur
“If you could find us,“ she asked, “why didn’t they?”Do you have a story to share about the use of unclaimed bodies for research? Dr. Douglas Hampers, the CEO of National Bioskills Laboratories — which had leased Honey’s torso — said he was disturbed to learn his company had received unclaimed bodies. He said his company would ensure that it no longer accepted unclaimed bodies and would adopt policies to make certain future specimens were donated with families’ permission. To curb this ghastly 19th-century practice, states adopted laws giving schools authority to use unclaimed bodies for student training and experiments. Each of the 44 that answered said they don’t use unclaimed bodies — and some condemned doing so.
Persons: Fran Moore, Carl Yenner, , , Victor Honey —, , Brenda Cloud, didn’t, DePuy, Johnson, Medsystems, Medical Sciences —, Douglas Hampers, Thomas Champney, Tim O’Hare Organizations: NBC, Army, University of North Texas Health Science, Health Science Center, Health Science, NBC News, Health, Dallas, U.S . Army, Johnson, Boston Scientific, University of Arkansas, Medical Sciences, University of North, National Bioskills Laboratories, American Association for Anatomy, University of Miami Miller School of Medicine Locations: Texas, Dallas, Tarrant, Fort Worth, North Texas, University of North Texas, Dallas County, Tarrant County
Four people were wounded at a Brooklyn train station Sunday when police officers shot at a man threatening them with a knife, authorities said. The bloody confrontation began when two officers confronted a man who entered the station without paying his fare, officials said. They followed him on to a train that had pulled into the station and fired two Tasers, but neither incapacitated the man, Maddrey said. Mayor Eric Adams visited the wounded officer in the hospital Sunday, ahead of a news conference addressing the shooting. In 2019, NYPD officers accidentally shot and killed two fellow officers while confronting crime suspects in separate on-duty incidents.
Persons: Thomas Donlan, , Jeffrey Maddrey, “ I’m, ” Maddrey, Maddrey, Eric Adams, I’m, Janno Lieber, Lieber Organizations: Interim Police, Democrat, NYPD, Metropolitan Transportation Locations: Brooklyn, Brownsville
Tensions are high in the South China Sea, as China continues its aggressive tactics against Philippine vessels. JAM STA ROSA/AFP via Getty ImagesClashes between China and the Philippines in the South China Sea have been escalating for months as China unjustly claims sovereignty over a majority of the South China Sea, defying international law while increasing efforts to assert its authority in the area. While traveling to Manila, the Baden-Württemberg and Frankfurt am Main transited the Taiwan Strait, sparking backlash from China. The German warships transited the Taiwan Strait last week for the first time in 20 years. "International waters are international waters," he said .
Persons: , Per Andreas Pfaffernoschke, Pfaffernoschke, Mao Ning, German Defense Ministry Boris Pistorius, Mao Organizations: Service, Business, Baden, Philippine, ROSA, Getty, Ministry of Foreign, German Defense Ministry, Command Locations: Philippines, Taiwan Strait, Germany, China, South China, Berlin, Frankfurt, Manila, AFP, Beijing, Baden, Württemberg, Taiwan, Main
CNN —Zimbabwe has authorized a mass slaughter of elephants to feed citizens left hungry by its worst drought in decades. With nearly half of the country’s population facing the risk of acute hunger, “we are targeting to cull 200 elephants,” Tinashe Farawo, a spokesperson for the Zimbabwe Parks and Wildlife Authority, told CNN on Monday. The move follows a decision in Namibia to cull elephants and other wild animals to relieve food insecurity fueled by a prolonged drought. Zimbabwe is home to more than 84,000 elephants, Farawo said, around double its “capacity of 45,000,” he added. At least 31 people have died in Zimbabwe this year as a result of conflict between humans and wildlife, local media reported.
Persons: Tinashe, Farawo, Sithembiso Nyoni, ” Nyoni, El Niño, , ” Farai Maguwu, Keith Lindsay, , CNN’s Laura Paddison Organizations: CNN, Zimbabwe, Zimbabwe Parks and Wildlife Authority, Botswana’s, Zim Parks, Namibia’s Ministry of Environment, Forestry, Tourism, for Natural Resource Locations: Namibia, Zimbabwe, , Africa
“The study also shows that food contact materials can contain mutagenic chemicals that harm our DNA, such as heavy metals,” Wagner said. Another chemical group in food packaging that has migrated into people is phthalates, the research revealed. “We’ve got, say, 60 years of research into the migration of chemicals into food from food processing and packaging equipment. “Given that there are (tens) of thousands of food contact chemicals, biomonitoring programs do not have the capacity to test for all chemicals we are potentially exposed to,” Wagner said. “However, there are also important gaps that need to be addressed as we undertake the work to strengthen our food chemical safety activities,” he said.
Persons: , Martin Wagner, Wagner, Jane Muncke, ” Muncke, Muncke, , ” Wagner, “ We’ve, It’s, there’s, Melanie Benesh, you’re, ” Benesh, GRAS, Jim Jones, Benesh Organizations: CNN, Norwegian University of Science, Technology, Food Packaging, Getty, American Chemistry Council, National Institute of Environmental Health Sciences, National Academies of Sciences, Engineering, Medicine, US National Health, Canadian, Korean National Environmental Health Survey, National Health, Environmental, Food and Drug Administration, FDA, US, Committee, Energy Locations: Trondheim, Zurich, Switzerland, phthalates, PFAS, Europe, Biomonitoring California, United States
The Winklevoss twins, Coinbase and Ripple didn't immediately respond to requests for comment. Huge jump from 2020Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It's nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings. Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year's contributor list is more robust and diverse. "Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats," Delmore said.
Persons: Tyler Winklevoss, Cameron Winklevoss, Joe Raedle, Cameron, James Delmore, Donald Trump, Chris Larsen, Brad Garlinghouse, Ro Khanna, John Deaton, Democratic Sen, Elizabeth Warren, Stuart Alderoty, Alderoty, Ripple, David Sacks, Trump, Gary Gensler, Gensler, Harris, Biden, Delmore, It's, Sam Bankman, Fried, Andreessen Horowitz, Coinbase, Coinbase's Organizations: Gemini, Mana Convention, Getty, CNBC, Trump, Republican, Trump America PAC, Fairshake PAC, Labs, Democratic, SEC, San, FEC, Citizen, Fairshake, Bloomberg, Crypto Alliance, DC Locations: Wynwood, Miami , Florida, bitcoin, Massachusetts, San Francisco, FTX
OpenAI on Monday said its Safety and Security Committee, which the company introduced in May as it dealt with controversy over security processes, will become an independent board oversight committee. Other members include Adam D'Angelo, an OpenAI board member and co-founder of Quora, former NSA chief and board member Paul Nakasone, and Nicole Seligman, former executive vice president at Sony. The committee will oversee "the safety and security processes guiding OpenAI's model deployment and development," the company said. The company said the committee "reviewed the safety and security criteria that OpenAI used to assess OpenAI o1's fitness for launch," as well as safety evaluation results. Leike wrote in a post on X that OpenAI's "safety culture and processes have taken a backseat to shiny products."
Persons: Sam Altman, OpenAI, Zico Kolter, Adam D'Angelo, Quora, Paul Nakasone, Nicole Seligman, it's, Ilya Sutskever, Jan Leike, Leike Organizations: Microsoft, Security Committee, Carnegie Mellon University's, NSA, Sony, Tiger Global, Nvidia, Apple, OpenAI o1, Democratic Locations: Redmond , Washington, OpenAI
Why these Gulf states want to be AI superpowers
  + stars: | 2024-09-16 | by ( Nell Lewis | Rym Bendimerad | ) edition.cnn.com   time to read: +5 min
“There’s huge investments going into (AI) in the Middle East,” said Stephen Anderson, Middle East strategy and markets leader at PwC, speaking to CNN at last week’s Global AI Summit (GAIN) in Riyadh, Saudi Arabia. Energy demand from AI, data centers and cryptocurrencies could double by 2026, according to the International Energy Agency. Gulf states are investing heavily in AI as they look to diversify their economies. Last year, the UAE unveiled a tool called Jais and Saudi Arabia has developed the Arabic chatbot ALLaM. Challenge of governanceOne of the major hurdles with the development of AI is public perception and governance: how should AI and data be regulated safely, securely, ethically and fairly?
Persons: , , Stephen Anderson ,, Anderson, We’re, ” Anderson, Nick Studer, Oliver Wyman, Studer Organizations: CNN, United Arab Emirates, PwC, AI, Google, Energy, International Energy Agency, , Saudi, AI Authority, Oliver Wyman Group, International Telecommunication Union Locations: UAE, Stephen Anderson , Middle, Riyadh, Saudi Arabia, Qatar
The projectile crossed into Israeli territory and fell in an open area in central Israel, with no injuries reported, according to the Israel Defense Forces. Sirens rang across central and northern Israel, the military said, and sirens were also sounded at Tel Aviv airport, the airport’s spokesperson told CNN. Also on Sunday morning, approximately 40 projectiles crossed from Lebanon into Israel’s northern region, some of them intercepted and others falling in open areas, the IDF said. It has also targeted shipping in the Red Sea, as a rejection of Israel’s military campaign in Gaza. Since then, more than 40,000 Palestinians have been killed in Israel’s military operations in Gaza, according to the health ministry in the enclave.
Persons: Israel Organizations: CNN, Sunday, Israel Defense Forces, Israel, Rescue Authority, Judaean Foothills, Authorities, Hezbollah, Hamas Locations: Yemen, Israel, Gaza, Modi’in, Tel Aviv, Jerusalem, Lebanon, Israel’s, Metula, Iran, Red
My mom is a little old-fashioned and has been upset with me for letting my boyfriend significantly influence my financial decisions. She has said multiple times that a man should have no say in my finances until he's put a ring on my finger. One, your mom has hard-won life experiences to offer, and you would be wise to hear her out. Only that we shouldn't reject our parents' advice out of hand simply because they're "old-fashioned" or we think they're "projecting". Instead, it's about nobody having a say over anyone else's finances until they have a genuine stake in them.
Persons: We're, he's, I've, they've, That's Organizations: Service
The family doctorIn the Oregon community where Nicole Snow grew up, Dr. David Farley was always there. Recounting the same anecdote he’d told Snow, he told Medley he’d once lost a young patient to cervical cancer and needed to do another exam to keep her safe. But again, women like Medley, Snow and Pratt describe feeling belittled or dismissed. After watching a documentary about the gymnasts abused by then-team doctor Larry Nassar, Medley, Pratt and Snow launched a civil suit against Farley. Their lawsuit has been amended multiple times to add women, girls, men and boys who say they too were abused by Farley.
Persons: Unfathomably, , Katie Medley, Nicole Snow, David Farley, of Jesus Christ, , ” Snow, Snow, Farley, he’d, ‘ We’re, , I’ve, Lisa Pratt, Medley he’d, Medley, Pratt, , Dr, , ” Lisa Pratt, CNN Pratt, she’d, ’ ” Weeks, Jason Carruth, ” David Farley, KATU, Tony Christensen, ” Pratt, Christensen, “ Tony Christensen, ‘ It’s, ’ ”, Farley’s, John Wentworth, John Wentworth’s, belittled, Sarah Dumont, ” Wentworth, Wentworth, Dumont, groped, Ellen Rosenblum, Rosenblum, West Linn, Glade, Nielson, … they’ve, David Farley’s, they’ve, “ Dr, Larry Nassar, Stewart, Finaldi, Nassar, Tom D’Amore, They’re Organizations: Oregon CNN, CNN, of Jesus, Harvard, Linn Family Health, LDS Church, RAINN, ” CNN, Oregon Medical Board, OMB, West Linn Police Department, The, Catholic Church and Boy Scouts, LDS, ., West, Oregon Medical, Manly, D’Amore Locations: Wilsonville, Oregon, Willamette, Portland, Linn, LDS, Utah, Clackamas County, Idaho, Nephi , Utah, Japan, Salt Lake, Salt Lake City , Utah, West Linn, it’s
The country’s new reformist President Masoud Pezeshkian campaigned on a promise to halt the harassment of women by morality police. In Iran, the hijab — and the all-encompassing black chador worn by some — has long been a political symbol as well. There have been scattered videos of women and young girls being roughed up by officers in the time since. Surveillance cameras search for women uncovered in vehicles to fine and impound their cars. The government has gone as far as use aerial drones to monitor the 2024 Tehran International Book Fair and Kish Island for uncovered women, the U.N. said.
Persons: Mahsa Amini, there’s, Masoud Pezeshkian, Ayatollah Ali Khamenei, , Amini, Khamenei, Ebrahim Raisi, Pezeshkian, Hamid Zarrinjouei, , Mohammad Movahedi Azad, Movahedi Azad, Ham Mihan, hadn’t, Simin Kazemi Organizations: United Nations, Tehran Sharif University, Metro, Pezeshkian, Iran’s, Iran’s Ministry of Culture Locations: it’s, Iran, Tehran, Tehran Sharif, Kish
Honolulu (AP) — Investigators reviewing the emergency response to last year’s wildfire that killed 102 people on Maui said in a report released Friday they found “no evidence” Hawaii officials made preparations for it, despite days of warnings that critical fire weather was coming. The Hawaii Emergency Management Agency didn’t immediately respond with comment. Maui fire commanders discussed the forecast, but “no evidence of pre-event preparedness plans by the MFD were produced,” the report said. Maui County and the state use private contractors to help fight fires with water tankers and heavy equipment. And despite the warnings, the heads of the county emergency management agency and the Maui Fire Department were off-island that day, attending conferences in Honolulu.
Persons: , Anne Lopez, Maui’s, Richard Bissen, Hawaii Emergency Management Agency didn’t, weren’t, Firefighters, ” Derek Alkonis Organizations: — Investigators, National Weather Service, Hawaii Emergency Management Agency, Maui Fire Department, Maui Police, Hawaiian Electric Co, Firefighters, Fire Safety Research Institute, Maui Police Department Locations: Honolulu, Maui, Hawaii, Lahaina, State, Maui County, West Maui
No one can keep former President Donald Trump away from Laura Loomer. A senior official from Trump’s 2020 campaign team said that helps explain why Loomer is no longer being kept at arm’s length. “Senator Graham is working tirelessly day and night to help re-elect President Trump,” Graham communications director Taylor Reidy responded in a statement to NBC News. Loomer is “not a member of our staff,” said a Trump campaign aide, who asked to remain anonymous. I don’t work for President Trump.”Last year, she said she would "gladly" serve as press secretary in a Trump White House.
Persons: Donald Trump, Laura Loomer, Loomer, Kamala Harris, Loomer’s, Marjorie Taylor Greene, Sen, Lindsey Graham, Graham, Corey Lewandowski, , Trump, Harris, Greene, President Trump, ” Graham, Taylor Reidy, ” “, Joe Biden’s, , Hakeem Jeffries, “ Donald Trump, Joe Biden, “ Everybody’s, Organizations: stoke, Trump, NBC News, Republican, Congress, Indian, House, , Trump White House, Democrats, NYPD, FDNY, Locations: Loomer, Congress, Springfield , Ohio, Indian American, Greene, D
An investigator has backed the World Anti-Doping Agency’s handling of a case involving 23 Chinese swimmers who failed drug tests weeks before the Tokyo Games and said WADA had not been complacent nor shown bias toward China. Swiss prosecutor Eric Cottier, who was handpicked by the global anti-doping agency, said in a preliminary report in July that WADA did not mishandle the case involving the swimmers, who tested positive for trimetazidine (TMZ) but were cleared by a Chinese investigation. Cottier reiterated those findings in his final report on Thursday but also criticized WADA for failing to challenge Chinese anti-doping authorities (CHINADA) for not following all of the procedures laid down in its anti-doping standard. The case prompted a backlash from athletes and national anti-doping authorities, who questioned WADA’s processes and complained about a lack of transparency in the case. “The ongoing failure to investigate and to answer the critical question of whether the 23 positive tests were due to contamination or intentional use will haunt athletes around the world for years to come.”
Persons: WADA, Eric Cottier, Cottier, ” Cottier, ” CHINADA, Olivier Niggli, ” Travis Tygart, Organizations: Tokyo Games, TMZ, U.S, Doping Authority Locations: China, Swiss
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi Arabia expects to get access to Nvidia's high performance chips "within the next year"Abdulrahman Tariq Habib, Deputy CEO of Strategy Management Office at the Saudi Data and AI Authority, speaks to CNBC's Dan Murphy at the Global AI summit in Riyadh.
Persons: Abdulrahman Tariq Habib, CNBC's Dan Murphy Organizations: Saudi, Strategy Management, AI Authority Locations: Saudi Arabia, Riyadh
In this article VOD-GB Follow your favorite stocks CREATE FREE ACCOUNTwatch nowBritain's competition watchdog on Friday said it found competition concerns with the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison. The U.K. Competition and Markets Authority (CMA) said the deal would lead to price increases for tens of millions of customers or see some users get reduced services. The regulator also warned of a negative impact for so-called Mobile Virtual Network Operators (MVNOs), which piggyback on existing infrastructure. The regulator said Friday the merger would result in higher prices or reduced services, and could "negatively affect those customers least able to afford mobile services." Vodafone said in a separate statement Friday that it disagrees with the findings that the merger would lead to price increases for consumers.
Persons: CK Hutchison, Ahmed Essam, CNBC's, Essam Organizations: Vodafone, CK, The, Competition, Markets Authority, Mobile, Network, CMA, CK Hutchison, MVNOs
His attorney told CNN Patterson is expected to retire as a major, one rank below lieutenant colonel, by November 1. His case is perhaps the most high-profile example of a problem women say has plagued the New Hampshire National Guard for years: A toxic, sexist work environment. The New Hampshire National Guard told CNN in a statement that 2023 was an anomalous year for sexual assault reports. “There’s way too much of ‘foxes guarding the henhouse’ in every angle of the [National Guard Bureau],” the IRC member said. “The National Guard belongs to the governors, and so they can do what they want.”The office of New Hampshire Gov.
Persons: Mark Patterson, Patterson, , he’d, CNN Patterson, , Kennith Kruger, Patterson “, , Katrina Dupuis, Dupuis, weren’t, ’ ” Dupuis, ” Dupuis, she’d, “ aren’t, David Mikolaities, didn’t, Emily Paige Kamal, ” Kamal, Kate Kuzminski, ” Kuzminski, Maj, Charles Johnston, Chris Sununu, Sununu, Jaleesa Ackerman, Ackerman, ’ ”, Keri Wareing, Wareing, ” Wareing, Jeanne Shaheen, they’ve, Shaheen, OCI, Shaheen “, They’re Organizations: CNN, New Hampshire National Guard, Army, National Guard, Guard, New Hampshire National, New Hampshire National Guard’s Army, Department of, New, New Hampshire Department of Military Affairs, Veterans Services, The New Hampshire National Guard, , Pentagon, Military, Veterans, Center, New American Security, Pembroke , New Hampshire . Tech, Defense, Independent Review Commission, National Guard Bureau, New Hampshire Gov, Services, Manchester Police Department, Mikolaities, Criminal, Organization, Independent, Capitol, Senate Armed Services Committee, Senate National Guard Caucus Locations: New Hampshire, Wyoming, NH, The, New American, Pembroke , New Hampshire, New
Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia's high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models. It's a significant expectation given that the United States' strict export controls have thus far prevented the chips' export to the kingdom. Habib made the comments on the sidelines of GAIN, Saudi Arabia's international AI summit, which took place in Riyadh this week. It "will mean a lot" for Saudi Arabia to have access to the chips, Habib said — in this case, the Nvidia H200s, the firm's most powerful chips, which are used in OpenAI's GPT-4o. We worked hard in the past three years in building capacity, in human capacity, we also build data capacity as well.
Persons: Tariq Habib, Habib, CNBC's Dan Murphy, , it's Organizations: CNBC, Saudi, AI Authority, Nvidia Locations: Saudi Arabia, United States, Riyadh, Saudi, U.S
The magnitude of mining waste globally is staggering, with tens of thousands of tailings piles containing 245 billon tons (223 billion metric tons), researchers say. Overseeing Leadville’s water supply is Parkville Water District Manager Greg Teter, who views CJK Milling as potential solution to water quality problems. As long as Leadville’s piles remain, their potential to pollute continues. Despite the mess from Leadville’s historic mining, Teter spoke proudly of his industry ties, including working in two now-closed mines. “If it were not for mining, Leadville would not be here.
Persons: “ We’re, ” Brice Karsh, Thomas Peipert, Nick Michael, Michael, , Christian Luna, Leal, ” Luna, Michael said, geochemist Ann Maest, remining, Maest, Greg Teter, Teter, ” Teter, CJKs, Richard Mylott, Mylott Organizations: National Mining Museum, , Parkville Water, U.S . Bureau of Reclamation, Environmental Protection Agency, EPA, Rockies Locations: LEADVILLE, Colo, , Colorado, Leadville, Arkansas, Mount Elbert, , Leadville —, Mexico, town’s, , Parkville, Leadville’s, East Helena, Anaconda , Montana, Midvale , Utah, South Dakota, Creede , Colorado
Dollar firm as inflation data douse bets for big Fed rate cut
  + stars: | 2024-09-12 | by ( ) www.cnbc.com   time to read: +3 min
The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. Meanwhile, a quarter-point rate reduction from the European Central Bank is widely expected later on Thursday, with investors anxious for hints on how soon the monetary authority will cut again. Early on Wednesday, Bank of Japan board member Junko Nakagawa reinforced the central bank's tightening bias by saying low real rates leave room for further rate hikes. As a result, traders essentially priced out the chances of a 50-basis point rate cut on Sept. 18, paring the odds to 15% versus 85% probability for a 25-bp reduction.
Persons: Junko Nakagawa, Naoki Tamura, Tony Sycamore Organizations: Federal, European Central Bank, Bank of Japan, IG, ECB, Sterling, Swiss Locations: U.S
New York CNN —It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN that 100% tariffs would threaten the economy. It’s possible he is floating 100% tariffs as just a threat designed to change the behavior of other countries. ‘No question it’s inflationary’The Trump campaign did not provide an explanation to CNN about how Trump would implement 100% tariffs nor what the trigger would be. He said Trump’s tariff plan, if enacted, would risk setting off a market panic like former UK Prime Minister Liz Truss did in 2022.
Persons: New York CNN —, Donald Trump, Trump, ” Trump, , you’re, ” Maury Obstfeld, Obstfeld, ” Obstfeld, Christine McDaniel, George W, Bush, , McDaniel, George Mason University’s, Alex Durante, ” Durante, Brian Hughes, ” Hughes, , Harris, Kamala Harris, ” Kent Smetters, Smetters, Wharton “, it’s, ” Wharton, Liz, Joe Brusuelas, ” “ I’m, Joe Biden, Biden, Brusuelas, Liz Truss, Matt Priest, Trump’s Organizations: New, New York CNN, Peterson Institute for International Economics, CNN, International Monetary Fund, Trump, United States Trade Representative, Commerce Department, Tax Foundation, University of Pennsylvania’s Wharton School, Penn Wharton Budget, Wharton, ABC, RSM, Democratic, Footwear Distributors, Retailers of America Locations: New York, Wisconsin, United States, China, Russia, , American
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