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☆ What the Fed’s interest rate cuts mean for your money
▼ + stars: | 2024-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

But that doesn’t mean as a result interest rates are now low — or will soon be low. “‘Falling interest rates’ are not the same as ‘low interest rates.’ Interest rates are high and will only decline to ‘not as high’ as … we move into 2025,” said Greg McBride, chief financial analyst at Bankrate. Credit cards: Just before the Fed cut its key rate in September, the average credit card rate was 20.78%, according to Bankrate. Another option: Try transferring your balance to a credit card from a credit union or local bank. Before the Fed’s September rate cut many of those accounts were offering yields between 4.25% and 5.3%, according to those listed on Bankrate.com.

Persons: ”, Greg McBride, Matt Schulz, Chris Diodato, they’re, Freddie Mac, Sam Khater, Freddie Mac’s, ” McBride, Sinead Colton Grant, Colton Grant, “, Don’t, Diodato, you’re, BNY, they’ve Organizations: CNN, Reserve, Bankrate, Fed, LendingTree, Treasury, Savings Locations: Treasuries

☆ Fed cuts rates again, but Trump's tariff plan sparks inflation fears and market uncertainty
▼ + stars: | 2024-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the Fed cutting interest rates yesterday was never really in doubt . Additional rate cuts aren't as clear, though, as Donald Trump's proposed widespread tariffs could slow down the Fed's plans . The market is indicating inflation could lead the Fed to keep borrowing rates high. AdvertisementGreg McBride, chief financial analyst at Bankrate.com, told Insider Today that Fed Chair Jerome Powell didn't indicate a pause in cuts was coming in December during Thursday's press conference.

Persons: —, MANDEL NGAN, Chelsea Jia Feng, Donald Trump's, Paul Krugman, It's, Chip Somodevilla, Greg McBride, Jerome Powell didn't, Powell, McBride, There's, Dominique Lapointe, Lapointe, Trump, ANGELA WEISS, Morningstar, Trump's, Dave Sekera, Goldman execs, Goldman Sachs, David Solomon, Donald Trump, Jenny Chang, Rodriguez, Elon Musk, David Zaslav, Zaslav, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty Images, BI, Federal Reserve, Treasury, Fed, Manulife Investment Management, Morningstar, Elon, Trump, Keystone State, Big Tech's, Walmart, Target, Costco, Big Media, Warner Bros, Discovery, Paramount, Sony Locations: AFP, China, Pennsylvania, New York, London

☆ As Trump grasps unprecedented power, the Supreme Court’s decision on presidential immunity looms large
▼ + stars: | 2024-11-08 | by ( John Fritze | ) edition.cnn.com time to read: +7 min

Immune, immune, immune.”Justice Department ‘problem’But just how far that immunity extends is murky. The Supreme Court’s 6-3 decision left many questions unanswered and lower courts have not yet wrestled with them. But the Supreme Court majority ruled that a president’s power to direct the Justice Department’s investigative and prosecutorial work is within his exclusive constitutional authority. While the Supreme Court granted former presidents wide immunity, the ruling made no such promises to aides in the White House or Justice Department. Even the conservative Supreme Court and several lower courts repeatedly blocked Trump, who according to a study last year had the worst win rate at the high court of any modern president.

Persons: Donald Trump, Trump, Jack Smith “, Joe Biden, “, ”, Neil Eggleston, Obama, John Roberts, Biden, chafed, Sonia Sotomayor, Sotomayor, Smith, It’s, Smith’s, Trump’s, Richard Painter, George W, Bush, Painter, ” Biden, Kamala Harris, Hillary Clinton, Mark Meadows, ” Rod Rosenstein Organizations: CNN, White, ”, Navy, Department, Trump, Justice Department, Supreme Court Locations: Georgia

☆ Dear Santa: Please bring me a Skibidi Toilet for Christmas
▼ + stars: | 2024-11-08 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Now in Walmart aisles: a Skibidi Toilet action figure — a $45 mystery toilet bowl. For $44.95, I could be the proud owner of the Skibidi Toilet — complete with toilet-themed toys in the bowl. The Skibidi Toilet is marketed as a "mystery surprise toilet" by Bonkers Toys. AdvertisementThe original Skibidi Toilet was the creation of animator Alexey Gerasimov, who made it for his YouTube channel DaFuq! He said the Skibidi Toilet was outselling LankyBox by around double.

Persons: Bonkers, —, you've, Lindsay Dodgson, Dan Meyer, Meyer, it's, Blake Droesch, Emarketer, Alexey Gerasimov, Gerasimov, Adam Goodman, DreamWorks SKG, Goodman, Logan Paul, KSI, they've Organizations: Service, Walmart, YouTube, Bonkers, DreamWorks, Paramount Pictures Locations: San Diego, discounters, Santa

☆ The 10-year Treasury yield has been rising. Here's where BlackRock’s Rick Rieder sees an opportunity
▼ + stars: | 2024-11-08 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Opportunities abound for income-seeking investors, even as the 10-year Treasury has seen a volatile week, according to BlackRock's Rick Rieder. The iShares Broad USD High Yield Corporate Bond ETF (USHY) , for instance, has a duration of 3.2 years and a 30-day SEC yield of 7.22%. Meanwhile, the Vanguard High-Yield Corporate Fund (VWEHX) has an average duration of 2.9 years, and a 30-day SEC yield of 6.03%. "You can stay higher quality, floating rate oriented, and clip yield," Rieder said. He thinks it's prime time for income investors to snap up yield without stretching into lower quality.

Persons: BlackRock's Rick Rieder, Donald Trump, Rieder, CLOs, Janus Henderson Organizations: Treasury, Federal, BlackRock, CNBC, Standard, SEC, Fund, AAA, Janus Henderson AAA CLO Locations: CLOs, Europe

☆ Gold ticks lower but holds near key $2,700 level
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: +2 min

Argor Heraeus SA-branded one kilogram gold bars are arranged for a photograph at the Chinese Gold and Silver Exchange Society in Hong Kong, China. Gold prices eased on Friday but hovered around the $2,700 level, as traders assessed the impact of Donald Trump's presidency and its implications for the U.S. interest rate outlook. Spot gold fell 0.4% to $2,697.19 per ounce as of 0251 GMT and was headed for a weekly loss. Gold prices are marginally pressured due to the market's uncertainty over U.S. political and policy developments, said Kyle Rodda, financial market analyst at Capital.com. Spot silver fell 0.8% to $31.75 per ounce, platinum fell 0.2% to $994.80 and palladium shed 0.21% to $1,022.36.

Persons: Argor, Donald Trump's, Kyle Rodda, Rodda, Brian Lan Organizations: Argor Heraeus, Silver Exchange Society, U.S, Federal Reserve, GoldSilver, Gold Locations: Hong Kong, China, Singapore, Beijing

☆ The 4 most interesting things from Airbnb's earnings
▼ + stars: | 2024-11-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Airbnb reported earnings after the market closed on Thursday. AdvertisementAirbnb's third-quarter earnings report showed that the company keeps growing — and that 2025 will be the year it breaks into a new business. Here are the highlights from the earnings report:Airbnb's third-quarter revenue grew despite a slow startAirbnb's revenue for the quarter rose 10% to $3.73 billion. Bookings were slow early in the quarter but picked up later, CEO Brian Chesky said on Thursday's earnings call. "We'll remain focused on accelerating growth while preparing for Airbnb's next chapter, which will take us beyond accommodations," the press release read.

Persons: Airbnb, Brian Chesky, —, Chesky, Airbnb's, Axel Springer Organizations: Service, Reuters, Inc Locations: Airbnb

☆ China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
▼ + stars: | 2024-11-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Lan revealed that, as of the end of 2023, China had an enormous hidden debt balance of 14.3 trillion yuan ($1.99 trillion). Officials aim to trim that amount to 2.3 trillion yuan ($320 billion) by 2028. Hitting a growth targetThe scale of the debt swap, seen as underwhelming by some investors, was largely in line with the expectations of economists. Still, at this pace of growth, there’s a risk Beijing may miss its growth target rate of around 5%. Since then, economists have been expecting additional stimulus measures worth up to 10 trillion yuan ($1.4 trillion) to restore bullishness in the world’s second-largest economy.

Persons: Donald Trump, Lan Fo’an, ” Lan, Lan, Larry Hu, Xi Jinping Organizations: Hong Kong CNN, House, Finance, National People’s Congress, “, Macquarie Bank, Reuters Locations: China, Hong Kong, Lan, Beijing

☆ Qantas flight makes emergency landing after engine failure
▼ + stars: | 2024-11-08 | by ( ) edition.cnn.com time to read: +2 min

Sydney Reuters —A Qantas Airways plane bound for Brisbane suffered an engine failure after takeoff on Friday and circled for a short period of time before returning safely to Sydney Airport, the Australian airline said. The airline said its engineers had conducted a preliminary inspection of the engine and confirmed it was a contained engine failure, meaning the internal engine parts stayed within the protective housing designed to keep them safely enclosed. Uncontained engine failures, where engine fragments fly out of this housing, can result in serious damage to the main body of an aircraft. Qantas flight QF520 took off from Sydney at 12:35 p.m. (8.35 p.m. Thursday ET), circled a few times and diverted to land at Sydney, tracking data from Flightradar24 showed. Qantas said the plane landed safely after appropriate procedures were conducted and added it would be investigating the cause of the engine issue.

Persons: Mark Willacy, QF520, “, France’s Safran Organizations: Sydney Reuters —, Qantas Airways, Sydney Airport, ABC, Qantas, Sydney, Boeing, CFM International, GE Aerospace Locations: Brisbane, Sydney, Flightradar24

☆ Why Russia's brain drain is the biggest problem facing its economy
▼ + stars: | 2024-11-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Russia's brain drain has become its economy's biggest problem, an economist told Business Insider. The long-lasting nature of brain drain makes the issue more serious than, say, inflation, which could be remedied by central bank maneuvering. Over the next decade, Russia's economy could devolve into one dependent mainly on its natural resources rather than on the most innovative industries, Portes speculated. That's similar to what other economic forecasters have predicted, with some warning Russia's economy could become de-industrialized as its resources are siphoned off by the war. Advertisement"It will be reduced to a resource economy, a natural resource economy," he said of Russia's future.

Persons: —, Richard Portes, they've, Portes Organizations: Service, London Business School, Russia, French Institute of International Relations, Business, Institute of Economics, Russian Academy of Sciences, Labor, Russian, UC Berkeley Locations: Russia, Ukraine

☆ Trump reiterates no plans to sell DJT after election win; stock soars
▼ + stars: | 2024-11-08 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Trump Media shares soared Friday after President-elect Donald Trump reaffirmed he has no plans to sell off his stake in the Truth Social operator, and called on authorities to investigate whoever suggested otherwise. Trump's announcement, posted on Truth Social, was his first personally written statement since his stunning victory against Democratic Vice President Kamala Harris in Tuesday's presidential election. DJT shares shot up more than 10% immediately following Trump's post, triggering a temporary trading halt due to volatility. Shares plunged more than 22% on Thursday, undoing some of the company's gains from a surging rally in the lead-up to the election.

Persons: Donald Trump, Kamala Harris, Trump Organizations: Trump Media, Democratic, Republican Locations: Washington ,, Tuesday's

AdvertisementSome venture capitalists expect US President Donald Trump to dial back regulation, potentially making it easier to develop new technologies and do business in Silicon Valley. Related VideoWhile many in Silicon Valley dislike Trump, many VCs and startup founders crave more freedom to pursue riskier new technologies unburdened by regulation. E-acc," referring to the recent Silicon Valley movement that wants technological advancements in AI to move as fast as possible, without any guardrails. Regulation has held Silicon Valley back in recent yearsVCs during Biden's presidency have complained about how tough it's been to get deals done. AdvertisementVCs anticipate an innovation boomAmerica is a country of entrepreneurs, and that's especially true in Silicon Valley.

Persons: —, Donald Trump, Elon, Ben Narasin, we've, Trump, Musk, cheekily, Vance, Augustus Doricko, Kamala Harris, Aaron Levie, Harris, Mark Pincus, Biden's, Louis Lehot, Foley, Lardner, Lina Khan —, it's, Biden, JD Vance, Khan, Mason Angel, who's, he's, Narasin, Ben Thompson, Rainmaker's Doricko, Angel Organizations: Service, Elon, Venture, White, Department of Government, Zynga, acc, Google, Microsoft, Nvidia, Federal Trade Commission, Department of Justice, Trump, Republican, Big Tech, FTC, SpaceX, Space Force Locations: Silicon Valley, Silicon

☆ How to profit if rates keep rising, going against the Fed and stock investors
▼ + stars: | 2024-11-08 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

U.S. government bond yields have surged too, puzzling many market participants. I am going to stick with the contrarian view and bet on rates continuing to move higher. I'll express that through a bearish bet on the iShares 20+ Year Treasury Bond ETF (TLT) which tracks bond prices. Various inputs have driven yields higher, creating the opposite outcome for the Fed as they continue to try to land the proverbial plane. Jeffrey Gundlach stated (post Fed meeting) that interest rates could shoot even higher if Republicans end up controlling the House too.

Persons: Donald Trump's, Jeffrey Gundlach, Jerome Powell, TLT Organizations: Federal Reserve, Treasury Bond ETF, Fed, Treasury, CNBC, NBC UNIVERSAL

☆ Trump just made $500 million with a single Truth Social post
▼ + stars: | 2024-11-08 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

CNN —President-elect Donald Trump’s social media stock had been sinking fast after a short-lived, post-election-victory surge this week. Then, with a single post on Truth Social, he helped boost the stock again – and added a half billion dollars to his net worth as a result. Trump is the company’s single largest shareholder, and his 114.75 million shares are now worth about $3.7 billion. Trump media rose just 4.4% over the past five days. That could be difficult to do, anyway, because the company’s valuation depends almost entirely on Trump’s ownership and participation on Truth Social, its core product.

Persons: Donald Trump’s, Trump Organizations: CNN, Trump Media, Technology Group, Traders, Trump, Truth Locations: United States

☆ Trump Says He Won't Sell Truth Social, Calls for Investigations
▼ + stars: | 2024-11-08 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Shares in Trump Media & Technology are surging after the election. Furthermore, Trump threatened the "market manipulators or short sellers" who he said were spreading the "fake, untrue, and probably illegal rumors and/or statements" that he did intend to sell Trump Media shares. AdvertisementShares in Trump Media were up around 15% by late afternoon Friday trade. Neither the Trump campaign nor Trump Media immediately responded to requests for comment from Business Insider. Trump's majority stake comprises 115 million shares worth around $3.7 billion as of Friday.

Persons: Donald Trump, he's, —, Trump, could've feasibly, Elon Musk's Organizations: Trump Media & Technology, Service, Trump Media, Business, Trump Media's, Trump, Social, Elon

☆ Feeling stressed this week? A walk outside can help
▼ + stars: | 2024-11-08 | by ( Katia Hetter | ) edition.cnn.com time to read: +6 min

Our six-part mindfulness guide will inform and inspire you to reduce stress while learning how to harness it. CNN —No matter their political persuasion, many people may be feeling stressed and anxious during election week in the United States. Johner RF/Getty ImagesCNN: You’ve mentioned that walking outside can help reduce stress. Wen: I would first ask what has the person done before that has helped them reduce stress. Please talk to your primary care clinician or mental health provider if you are struggling.

Persons: Leana Wen, Wen, You’ve, it’s, don’t Organizations: CNN, George Washington University, Getty Locations: United States, Japan, Australia

☆ Analyst: we see 'skeptical' reaction in Washington about Trump's across-the-board tariff proposals
▼ + stars: | 2024-11-08 | 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 EmailAnalyst: we see 'skeptical' reaction in Washington about Trump's across-the-board tariff proposalsMike Townsend of Charles Schwab says the recent market rally is a short-term euphoria reaction to Trump's victory. He sees a lot of room for negotiation to Trump's initially proposed tariffs.

Persons: Mike Townsend, Charles Schwab, Trump's Locations: Washington, Trump's

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Home Depot, Domino's, Wingstop, Warby Parker, Rivian, Bank of America & more
▼ + stars: | 2024-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.

Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW

☆ Why the election felt like the 2021 meme stock rally — but way bigger
▼ + stars: | 2024-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

The US election showed shades of the meme stock mania of early 2021. Ron DeSantis' Presidential Announcement with Elon MuskSimilarly, in February 2021, Cuban thanked members of Reddit's WallStreetBets forum for "changing the game" and "taking on Wall Street." Wall Street traders watched the swings in election betting markets to assess the state of the presidential race and inform their investments, Malek added. Trump Media & Technology Group, the parent company of Truth Social which counts the president-elect as its majority shareholder, unites several of these ideas. AdvertisementThere are clear parallels between the meme stock mania of early 2021 and the social-media chatter and betting-platform activity going into the election.

Persons: Elon Musk, Mark Cuban, —, Musk, Trump, Ron DeSantis, Cuban, Reddit's, dogecoin, Kamala Harris, It's, Neil Wilson, Keith, Gill, Young, Joe Rogan, Mark Malek, Siebert, Malek, Naeem Aslam, Tesla, Dan Coatsworth, AJ Bell Organizations: Service, GameStop, Florida Gov, Elon, Democratic, Trump, WSB, Wall Street, titans, Wall, Zaye, Markets, Trump Media & Technology Group, Truth, White Locations: America, Florida, Polymarket, WallStreetBets, . Washington

☆ My autism makes networking extra challenging. Here's what I wish people knew.
▼ + stars: | 2024-11-08 | by ( Hannah Wang | ) www.businessinsider.com time to read: +4 min

After I was diagnosed with autism, it made sense why these networking events were so hard for me. I didn't have to maintain eye contact with someone new every five minutes or try to make out what they were saying over a loud crowd. Then, three years later, I was diagnosed with autism at 21, and it suddenly made sense why networking was extra difficult for me. Breaking eye contact doesn't mean I'm not interested in talking anymoreMaking eye contact is not easy for me. Traditional networking spaces make networking a nightmare for meAll the networking spaces I've been in have made networking extra challenging for me.

Persons: —, I've, we're, It's Organizations: Service, Autism

☆ Amy Coney Barrett: Meet the last best hope for Supreme Court liberals
▼ + stars: | 2024-11-08 | by ( Joan Biskupic | ) edition.cnn.com time to read: +19 min

CNN —Supreme Court Justice Amy Coney Barrett stands apart. And that is why Barrett has become the best hope for what remains of the liberal wing, particularly after Trump’s election victory. As Trump returns to the White House, the Supreme Court may be even more positioned to check the balance of powers. Nonetheless, progressives have few options, and an uncertain horizon, and cannot help but imbue Barrett with hope. “As Justice Barrett said…,” is a common Kagan refrain, too.

Persons: Amy Coney Barrett, Donald Trump’s, Barrett, Trump, imbue Barrett, Sandra Day O’Connor, Reagan, Anthony Kennedy, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Barrett homed, Sotomayor, …, Kagan, Kagan interjected, “, Richard Glossip, Brett Kavanaugh, Thomas, Roberts, Kavanaugh, Adam Feldman, Jake Truscott, Republican centrists O’Connor, Kennedy, Lewis Powell, Ruth Bader Ginsburg, Dobbs, Antonin Scalia, Scalia’s, Scalia, Jesse, Warren Burger, Clarence Thomas, Samuel Alito, Neil Gorsuch, they’ve, Gorsuch, ” Barrett, Jackson, Alito, ” Alito, Biden, Justice Roberts, CNN Kagan, Barrett’s, Roe, Wade, ‘, ’ Barrett, Adrian Zackheim, Justice Barrett, ” Zackheim, Sentinel publicists, Sen, Mitch McConnell, McConnell, Barack Obama’s, Merrick Garland, Ginsburg Organizations: CNN, Republican, White, Republicans, Representatives, Notre Dame, Trump, Democratic, Glossip, Jackson, Health Organization, New York, Association, Harvard, ., Biden, Capitol, of Education, Ronald Reagan, Sentinel, Penguin Random, Wall Street, University of Louisville McConnell Center Locations: America, Oklahoma, ”, . United States, New Orleans, Washington, Haiti, Idaho, California, Louisville

☆ Trump claims Kim Jong Un ‘misses’ him. But he faces a very different North Korean leader this time around
▼ + stars: | 2024-11-08 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

Hong Kong CNN —No United States leader has handled relations with North Korea quite like Donald Trump. But the second Trump administration will face an emboldened and arguably more dangerous North Korean leader. The North Korean leader has met with his “closest comrade” Russian President Vladimir Putin twice since last September and inked a major defense pact in June. Russian President Vladimir Putin and North Korean leader Kim Jong Un meet in Pyongyang this past June. That means the North Korean leader may look for benefit in Trump’s return.

Persons: Donald Trump, Kim Jong, ”, Kim, Trump, Kim “, Kim –, extinguishes, Vyacheslav Madiyevskyy, ’, Rachel Minyoung Lee, ” Kim, ” He’s, Biden, Vladimir Putin, Lee, Dmitry Azarov, –, Robert O’Brien, “, ” O’Brien, Chul Lim, “ Trump, Duyeon Kim, Putin –, Yoon Suk, Edward Howell Organizations: Hong Kong CNN, North Korean, Reuters, Trump, Stimson, North, South, AP, CNN, North Korea Research Center, University’s Institute, Far Eastern Studies, Center, New, New American Security, US, Korea's, Chiefs, Staff, NATO, North Korea, University of Oxford Locations: Hong Kong, States, North Korea, Pyongyang, Russia, Moscow, Ukraine, United States, South Korea, Kharkiv, Singapore, Hanoi, North, Washington, North Korean, Japan, ” Russian, China, Iran, Korea, Russian, Seoul, New American, Korean, Beijing, United Kingdom

☆ After two presidential losses, women wonder what it will take to shatter the glass ceiling
▼ + stars: | 2024-11-08 | by ( Arit John | ) edition.cnn.com time to read: +8 min

For the second time in eight years, the highest, hardest glass ceiling survived millions of tiny cracks, once again testing the optimism of those who hope to see the first female president elected. The late Rep. Shirley Chisholm, a former New York congresswoman, became the first Black woman to seek the office in 1972. “I’m ready for a female president, I just don’t think that most of America is yet, and I don’t know why,” she said. In the Senate, Angela Alsobrooks will be the first Black woman to represent Maryland and Lisa Blunt Rochester will be the first woman to represent Delaware. Together, the two Democrats will be the first two Black women to serve in the chamber at the same time.

Persons: Kamala Harris, Janet Edwards, Harris, “ I’m, ” Edwards, ”, Donald Trump, Shirley Chisholm, ” Harris ’, Chisholm, Hillary Clinton, Barack Obama, Clinton, Joe Biden, –, Trump, Clinton –, Melinda Corey, “, ” Priya Lewis, Kamori Thomas, Howard University – Harris, alma, Thomas, ” Thomas, ” Lewis, Harris –, “ We’ve, Kelly Dittmar, Dittmar, Harris ’, Nadia Brown, Brown, Angela Alsobrooks, Lisa Blunt Rochester, Republican Julie Fedorchak, Sarah McBride of, David Axelrod, ‘, I’ve, Axelrod, – Harris, who’d, ” Harris, Christina Reynolds, doesn’t Organizations: CNN, Howard University, “, White House, Victoria, Equal Rights Party, Democratic, Trump, Center for American Women, Georgetown University, “ Research, House, Republican, Democratic National Convention Locations: Washington, Italy, North Macedonia, Mexico, New York, America, –, Maryland, Delaware, Sarah McBride of Delaware, DC

☆ Toyota says California-led EV mandates are 'impossible' as states fall short of goal
▼ + stars: | 2024-11-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images News | Getty ImagesDETROIT — Toyota Motor sounded the alarm Friday that California-led electric vehicle mandates that are set to start next year are "impossible" to meet and, if they're not changed, will lead to less customer choice in several states. Battery-electric, fuel cell and, to an extent, plug-in hybrid electric vehicles qualify as zero emission under the regulations. At this point, it looks impossible," Jack Hollis, chief operating officer of Toyota Motor North America, said during a virtual media roundtable Friday. Several automotive insiders previously told CNBC that the EV mandate issue needed to be addressed regardless of who won election this year.

Persons: Tomohiro Ohsumi, they're, ZEV, Battery, Jack Hollis, Power, Hollis Organizations: Toyota Motor Corp, Getty, DETROIT, Toyota, California Air, Toyota Motor North, California Air Resources, D.C, CNBC Locations: Tokyo, Japan, California, Toyota Motor North America, Washington, Colorado, New York, New Mexico, Rhode

☆ Powell and the Fed won't be able to avoid talking about Trump forever
▼ + stars: | 2024-11-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Trump took a dim view of the Powell Fed during his first term in office, calling policymakers "boneheads" and once compared Powell to a golfer who couldn't putt. Powell, who was nominated by Trump in November 2017 and took office the following February, largely shrugged off the criticism then, and he again deflected Thursday. However, dealing with the ramifications of a Trump presidency will be almost unavoidable for the Fed leader. LaVorgna has a unique perspective on the situation, having served as chief economist for the National Economic Council under Trump. Trump historically has favored lower rates, though that too could change if the Fed cuts and inflation rises.

Persons: Jerome Powell, Kent Nishimura, Donald Trump, Trump, Powell, I'm, Joseph LaVorgna, LaVorgna, Lavorgna Organizations: Federal, Getty, firebrand Republican, Powell Fed, Trump, Fed, Nikko Securities, National Economic Council Locations: Washington, Washington , DC, stoke

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