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☆ Today’s good economic news could spell trouble for Americans down the road
  + stars: | 2023-03-09 | by ( Christine Romans | ) edition.cnn.com   time to read: +3 min
From the labor market to consumer spending to inflation, key readings on the economy have been running hot. Although that might sound like good news for Main Street, it’s a problem for the Federal Reserve. After a spate of stronger-than-expected economic data, buckle up for an intense few weeks of Fed guessing, especially surrounding the tight labor market. The strong labor market means workers are enjoying the best wage growth in years. The next two weeks will serve as a crucial test on how much more medicine the economy needs.
☆ Premarket stocks: SpinCos are the new SPACs
  + stars: | 2023-02-17 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
The parent company may distribute the new company’s stock to its shareholders, allowing them to own shares in both. These smaller, newly formed companies are still in the process of establishing themselves in the market and often have lower profit margins than their parent company. It costs a lot to borrow these days and investors are looking for high profits and value stocks, writes Goldman. The Federal Reserve’s interest rate hikes have added significantly to the cost of government debt. “As we add trillion after trillion to our debt, the problem only gets worse and compounds.
☆ U.S. inflation roller coaster prompts fresh look at long-ignored money supply
  + stars: | 2023-01-26 | by ( Michael S. Derby | ) www.reuters.com   time to read: +4 min
The recent decline in the money supply comes as the Fed has been aggressively raising rates to push inflation back to its 2% target. That dynamic changed in the last two years, though, with money supply trends moving in roughly the same direction as inflation pressures: As money supply rose rapidly into early 2022, so did inflation; since M2 started a persistent decline last summer, inflation pressures have also receded. To be sure, measuring money supply is complicated, with no one way to do it. Bullard, acknowledging the cooling off of money supply, said this downshift in money "bodes well for disinflation," which means the Fed is likely to face an enduring trend of lower price pressures. Economists, meanwhile, are still taking on board whether money supply is something they need to pay greater mind to as they contemplate monetary policy and inflation.
☆ How 'Cryptoqueen' Ruja Ignatova ended up as the only woman on the FBI's most-wanted list
  + stars: | 2023-01-22 | by ( Faith Karimi | ) edition.cnn.com   time to read: +12 min
Ruja Ignatova is one of the FBI's 10 most-wanted fugitives -- the only woman currently on that list. FBIShe is now one of the FBI’s 10 most-wanted fugitives, alongside accused gang leaders and murderers, and is the only woman currently on that list. The bureau declined to provide additional details to CNN beyond court documents from the US Department of Justice, which did not list an attorney for Ignatova. “The cryptocurrency OneCoin was established for the sole purpose of defrauding investors,” IRS Special Agent John R. Tafur said in a statement. Less than two weeks later, on October 25, 2017, she boarded a commercial flight from Sofia, Bulgaria, to Athens, Greece, court documents said.
☆ Jury convicts Kansas man of threatening to kill congressman
  + stars: | 2023-01-20 | by ( The Associated Press | ) www.nbcnews.com   time to read: +5 min
Jurors found Chase Neill, 32, of Lawrence, guilty of a single count of threatening a U.S. government official. The judge had Neill give his testimony Thursday as a narrative from the witness stand because he was representing himself. Neill admitted in court that he left the June 5 voicemail and others with more death threats the next day. Hunting told jurors that it was reasonable for LaTurner and his staff to take Neill’s words seriously as threats. “I’m really trying to explain how I interact with God, and it’s a difficult explanation,” Neill told jurors during his testimony Thursday.
☆ Why America’s economy remains surprisingly strong – but you don’t realize it
  + stars: | 2022-12-22 | by ( Christine Romans | ) edition.cnn.com   time to read: +2 min
New York CNN Business —Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. “The labor market is incredibly strong again,” Federal Reserve Chairman Jerome Powell in a speech last month. That means the next year will no question be a challenge as all that tightening continues to work its way through the economy.
☆ First openly transgender woman set to be executed in the U.S. asks for mercy
  + stars: | 2022-12-15 | by ( The Associated Press | ) www.nbcnews.com   time to read: +3 min
— The first openly transgender woman set to be executed in the U.S. is asking Missouri’s governor for mercy, citing mental health issues. There is no known case of an openly transgender inmate being executed in the U.S. before, according to the anti-execution Death Penalty Information Center. McLaughlin’s lawyers also listed the jury’s indecision and McLaughlin’s remorse as reasons Parson should spare her life. Missouri has only executed one woman before, state Corrections Department spokeswoman Karen Pojmann said in an email. McLaughlin’s lawyers said she previously was rooming with another transgender woman but now is living in isolation leading up to her scheduled execution date.
☆ Peru’s president ousted and arrested after he seeks to dissolve Congress in political crisis
  + stars: | 2022-12-08 | by ( The Associated Press | ) www.nbcnews.com   time to read: +2 min
The president of Peru was ousted by Congress and arrested on a charge of rebellion Wednesday after he sought to dissolve the legislative body and take unilateral control of the government, triggering a grave constitutional crisis. Boluarte, a 60--year-old lawyer, called for a political truce and the installation of a national unity government. He entered a police station and hours later federal prosecutors announced that Castillo had been arrested on the rebellion charge for allegedly violating constitutional order. Shortly before the impeachment vote, Castillo announced that he was installing a new emergency government and would rule by decree. The Ombudsman’s Office, an autonomous government institution, said before the congressional vote that Castillo should turn himself in to judicial authorities.
☆ The ‘yes, but’ economy. Yes, we’re worried about recession — but the economy remains resilient
  + stars: | 2022-12-02 | by ( Christine Romans | ) edition.cnn.com   time to read: +2 min
New York CNN Business —Each week brings head-scratching contradictory news about the economy. Tthis past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. Yes, economists are worried about a recession, but the job market is incredibly tight with more than 10 million open jobs and 1.7 jobs available for anyone who’s searching for one (or looking to job hop). That means the next year will no question be a challenge as all that tightening continues to work its way through the economy.
☆ Federal Reserve chairman says a December rate-hike slowdown is possible
  + stars: | 2022-11-30 | by ( ) www.nbcnews.com   time to read: +5 min
“It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. Powell said Fed estimates of inflation in October showed its preferred measure still rising at about triple the central bank’s 2% target. The yield on the 2-year Treasury note , the maturity most sensitive to Fed rate expectations, dropped to about 4.47% from 4.52%. In rate futures markets, traders added to the prevailing bets that the Fed would slow its pace of rate hikes at its meeting in two weeks. Bottlenecks in goods production are easing and goods price inflation appears to be easing as well, and this, too, must continue.” But “we will likely see housing services inflation begin to fall later next year,” he said.
☆ Elizabeth Holmes scheduled to be sentenced on Friday
  + stars: | 2022-11-18 | by ( Rachel Metz | ) edition.cnn.com   time to read: +5 min
CNN —Elizabeth Holmes, the founder of failed blood testing startup Theranos who was convicted of fraud earlier this year, is scheduled to be sentenced on Friday morning by a judge in court in San Jose, California. The list includes Holmes’ partner, Billy Evans, many members of Holmes’ and Evans’ families, early Theranos investor Tim Draper, and Sen. Cory Booker. Elizabeth Holmes (L), founder of Theranos, and her partner, Billy Evans (R), leave the Robert F. Peckham Federal Building and US Courthouse in San Jose, California, on October 17, 2022. “The effects of Holmes and Balwani’s fraudulent conduct were far-reaching and severe,” federal prosecutors wrote in a November court filing regarding Holmes’ sentencing. “Elizabeth Holmes is never going to run a big company again,” he said.
☆ Rudy Giuliani Isn’t Expected to Face Criminal Charges in Ukraine Probe
  + stars: | 2022-11-15 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com   time to read: 1 min
Rudy Giuliani, the former New York City major who has worked as personal lawyer to Donald Trump, had denied lobbying for anyone in Ukraine or working as an agent of a foreign government . Rudy Giuliani isn’t expected to face criminal charges in a New York federal grand jury investigation into his interactions with Ukrainian officials, the Justice Department said. “Based on information currently available to the government, criminal charges are not forthcoming,” federal prosecutors said Monday in a court filing.
☆ Biden administration wants psychological tests for parents of separated kids
  + stars: | 2022-09-28 | by ( Associated Press | ) www.nbcnews.com   time to read: +5 min
WASHINGTON — The Biden administration is asking that parents of children separated at the U.S.-Mexico border undergo another round of psychological evaluations to measure how traumatized they were by the Trump-era policy, court documents show. Government investigators have said children separated from their parents showed more fear, feelings of abandonment and post-traumatic stress symptoms than children who were not separated. Biden administration officials have decried the Trump-era policies. The two sides had been negotiating a settlement, but then Biden said that families of separated children deserve some form of compensation. The Biden administration has formed a reunification task force that has reunited roughly 600 families.
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