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☆ Opinion: Uncomfortable reality for Biden
▼ + stars: | 2023-10-22 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. He didn’t live to see the allies’ victory in World War II that year or the conference in San Francisco that month that established the United Nations. But his diplomatic efforts to meet with Arab leaders came undone after a devastating explosion at a hospital in Gaza. Biden himself initially supported the US 2003 war in Iraq only to end up as the president who ordered the US pullout of Afghanistan. “This is the politics that Donald Trump’s rhetoric has wrought among his supporters in the Republican Party,” wrote Avlon.

Persons: Franklin D, Roosevelt, Joe Biden, FDR, “, ” Biden, Steve Breen, GoComics.com Biden, Seth Moulton, ”, David Petraeus, ‘, Petraeus, Moulton, Shmuel Rosner, “ Israel, Biden, David Mark, Donald Trump, Gaza Hani Almadhoun, ” Yasmine Mohammed, Will Heath, Pete Davidson, Dean Obeidallah, Davidson, ” Obeidallah, ” Wadea, Khaled, Wadea’s, Mukesh Kapila, Frida Ghitis, Nicole Hemmer, Michael, Peter Bergen, Israel, ” Bergen, “ Khaled Hroub, ’, ” Hroub, what’s, ” Jim Jordan flunks, Nick Anderson, Jim Jordan, Julian Zelizer, “ Jordan, MAGA, Trump, shutdowns, Jordan, —, ” Zelizer, ” John Avlon, Jake Tapper, Donald Trump’s, Utah Sen, Mitt Romney, Cupp, Bill Bramhall, Trump Sidney Powell, Powell “, Jennifer Rodgers, ” Clay Jones, Kenneth Chesebro, Rudy Giuliani, John Eastman, Jack Smith, Trump’s, Jill Filipovic, “ It’s, …, Don’t, Scott Stantis, David Goldblatt, Amy Bass, Mary Lou Retton, Amy Klein, Glock, homebuyers Holly Thomas, Frasier ’, Richie Hofmann, Lily Gladstone, Leonardo DiCaprio, Niro, DiCaprio, Scorsese, David Grann’s, White, Noah Berlatsky, “ Martin Scorsese, Robert De Niro Organizations: CNN, United Nations, UN, Arab, Marine Corps, Democratic, Twitter, Facebook, Republican, Capitol, United Nations Relief, Works Agency, “, NBC, New York City, World Trade, Chicago, Hamas, Tribune, Trump, Tea Party, Republican Party, GOP, Utah, Republicans, Agency, White Locations: Warm Springs , Georgia, San Francisco, United, United States, Soviet Union, United Kingdom, China, Ukraine, Israel, America, Gaza, What’s, Massachusetts, Iraq, “ Israel, Afghanistan, Iraqi, Najaf, Iran, Lebanon, ”, New, Geneva, Palestinian, Fulton County , Georgia, Hollywood, Oklahoma

☆ Two Trump co-defendants plead guilty. What next?
▼ + stars: | 2023-10-21 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

Sidney Powell , a public face of Trump’s attempts to challenge the election results in 2020 and 2021, pleaded guilty Thursday. The former Trump attorney willavoid jail time but agreed to testify as a witness and pleaded guilty to six misdemeanors for conspiracy to commitintentional interference, downgraded from felony charges she had faced. He pleaded guilty Friday to a single felony, conspiracy to commit filingfalse documents. Trial dates have not been set, and Trump has pleaded not guilty. But guilty pleas, Williams said, are now evidence that crimes were committed as Trump tried to make Joe Biden’s 2020 victory disappear.

Persons: – unsolvably, Donald Trump’s, Georgia’s, Sidney Powell, He’s, Kenneth Chesebro, Scott Hall, Trump, Powell’s Chesebro, Rudy Giuliani, John Eastman, Elliot Williams, Fani Willis, Williams, Joe Biden’s, ” Williams, Jim Sciutto, CNN Max, “ Chesebro, ‘, Chesebro, Powell, CNN’s Marshall Cohen, Cohen, Jack Smith, Tanya Chutkan, “, Chutkan, Arthur Engoron, Engoron, ” Trump, Chris Christie, ” Christie, “ Donald Trump doesn’t, Christie, Oliver Darcy, CNN’s, “ It’s, ” Darcy Organizations: CNN, Trump, White, Republican, Former New Jersey Gov, NBC, Salem Radio Network, GOP, Trump Republicans Locations: Israel, Georgia, Coffee, New York, Washington, Florida, Fulton County, Washington ,, Clive , Iowa, Miami, Salem

The pleas are a stark display of the reality that the Georgia case against Trump and his co-defendants is getting stronger. For two prominent Trump co-defendants – Sidney Powell and Kenneth Chesebro – the looming five-month trial, potentially resulting in a yearslong prison sentence, appears to have spurred them into flipping. Chesebro directly implicated Trump in a criminal conspiracy, and his plea establishes for the first time that the fake electors plot was illegal. Trump is the only person charged thus far in the federal case, but both Chesebro and Powell are unindicted co-conspirators. Sadow brushed off the threat of possible testimony from Chesebro and Powell at Trump’s eventual trial on the Georgia election subversion charges.

Persons: Donald Trump, Jack Smith, Trump, – Sidney Powell, Kenneth Chesebro –, Trump Chesebro, Chesebro, Powell, Powell’s, Steve Sadow, Trump’s, Chesebro’s, ”, “, Fani Willis, Michael Cohen, Cohen, Sadow, ” Sadow Organizations: CNN, Trump, Justice, White, Prosecutors, Justice Department Locations: Fulton County , Georgia, Georgia, “, Coffee County , Georgia, Fulton, New York, Chesebro

☆ Relentless climb in Treasury yields may have further to run after surging to 5%
▼ + stars: | 2023-10-20 | by ( David Randall | Davide Barbuscia | ) www.reuters.com time to read: +5 min

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. “That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ’ ”, Greg Whiteley, ” Whiteley, ”, Gennadiy Goldberg, ” Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, “ Organizations: YORK, Treasury, Federal Reserve, Federal, Economic, of New, REUTERS, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp Locations: of New York, New York City, U.S, DoubleLine

☆ Late Night Sums Up Sidney Powell’s Plea Deal
▼ + stars: | 2023-10-20 | by ( Trish Bendix | ) www.nytimes.com time to read: 1 min

Welcome to Best of Late Night, a rundown of the previous night’s highlights that lets you sleep — and lets us get paid to watch comedy. Here are the 50 best movies on Netflix right now. Get Out of Jail Free PleaSidney Powell, a former lawyer for Donald Trump, pleaded guilty in the Georgia election interference case, agreeing to testify against other defendants, possibly including the former president. Powell, who will avoid prison time, will also have to pay a $9,000 fine and write a letter of apology to the people of Georgia. On Thursday, Seth Meyers said it was still shocking to him that “when discussing a former president, I have to say ‘one of the four criminal cases’ — and you don’t even know which one I’m talking about.”

Persons: Sidney Powell, Donald Trump, Powell, Seth Meyers, ’, ” Organizations: Netflix Locations: Georgia

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. "That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ”, Greg Whiteley, ” Whiteley, Gennadiy Goldberg, Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Megan Davies Organizations: Economic, of New, REUTERS, Treasury, Federal Reserve, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp, Thomson Locations: of New York, New York City, U.S, DoubleLine

☆ U.S. 10-year Treasury yields hits 5% for first time since 2007
▼ + stars: | 2023-10-19 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

LONDON (Reuters) - The U.S. 10-year Treasury yield briefly reached 5% for the first time since 2007, marking a fresh milestone in a relentless push higher for government borrowing costs. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermidFurther signs of resilience in the U.S. economy help explain the latest sell off in Treasuries, as traders have unwound bets the U.S. Federal Reserve would soon start to lower interest rates. He highlighted what everyone has seen with the strong economic growth data and the retail sales figure that came out. Just like how the market forced the Fed to stop quantitative tightening in 2019, it might be forcing the Fed to rethink QT today.

Persons: Brendan McDermid, Jerome Powell, MICHAEL SCHULMAN, EL, ”, NOAH, ” BRIAN JACOBSEN, MENOMONEE, QUINCY KROSBY, Powell Organizations: Treasury, New York Stock Exchange, REUTERS, U.S . Federal, Fed, NORTH Locations: New York City, U.S, Treasuries, EL SEGUNDO, CALIFORNIA, CHARLOTTE, NC, WISCONSIN, NORTH CAROLINA, Ukraine, Russia

☆ Climate protesters disrupt start of Federal Reserve Chair Powell’s economic speech
▼ + stars: | 2023-10-19 | 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 EmailClimate protesters disrupt start of Federal Reserve Chair Powell’s economic speechThe start of Federal Reserve Chairman Jerome Powell’s speech on Thursday was delayed by climate activists protesting at the Economic Club of New York. The protesters appeared to be from a group called Climate Defiance. The group’s mission statement calls for the end of fossil fuel extraction on federal lands and waters, among other items.

Persons: Jerome Powell’s Organizations: Federal, Economic, of New Locations: of New York

Investors turn to the Fed amid Israel-Hamas turmoilThe Middle East crisis has put markets on edge, pushing up oil prices and driving demand for safe havens, like gold. A key update comes Thursday at noon Eastern, with Jay Powell, the Fed chair, set to speak at the Economic Club of New York. In recent months, inflation has begun to ease, but the path has been bumpy as hiring remains robust and consumers continue to spend. That’s fueled fears in the bond markets that Fed policymakers will keep their prime lending rate at around 5 percent well into next year. The conviction has prompted a mammoth sell-off in Treasuries in recent weeks, pushing the yield on the 10-year T-bill to a 16-year high.

Persons: Jay Powell Organizations: Economic, of New Locations: Israel, of New York, Treasuries

☆ Sidney Powell: Former Trump attorney pleads guilty in Georgia election subversion case
▼ + stars: | 2023-10-19 | by ( Marshall Cohen | ) edition.cnn.com time to read: +5 min

CNN —Former Donald Trump attorney Sidney Powell has pleaded guilty in the Georgia election subversion case, one day before her trial was set to start. As part of her guilty plea, Powell is admitting her role in the January 2021 breach of election systems in rural Coffee County, Georgia. Bail bondsman Scott Hall last month pleaded guilty and agreed to testify at future trials. Legal jeopardy elsewhereBeyond the Georgia case, Powell is still facing legal headaches. She is an unindicted co-conspirator in the federal election subversion case that special counsel Jack Smith filed against Trump.

Persons: Donald Trump, Sidney Powell, Powell, Trump, Bail bondsman Scott, ’, They’ve, ”, Elie Honig, you’re, Honig, Misty Hampton, Hampton, Judge McAfee, Kenneth Chesebro, Chesebro, Jack Smith Organizations: CNN, GOP, Trump, Trump . Fulton, Voting Systems Corporation, ” CNN, “ News, Dominion Voting Systems Locations: Georgia, Coffee County , Georgia, Fulton, Venezuela, Coffee

☆ Fed Chair Powell to deliver remarks during uncertain moment for the US economy
▼ + stars: | 2023-10-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is set to deliver remarks during a moderated discussion hosted by the Economic Club of New York at 12 pm ET on Thursday. The yield on the benchmark 10-year US Treasury note reached its highest level since 2007 on Wednesday, while 30-year Treasury yields breached the 5% mark. That’s a welcome development for the Fed, but officials aren’t quite yet ready to declare victory. Inflation is still above the Fed’s 2% target, and officials have said they need to see further evidence of the economy cooling. Employers added a robust 336,000 jobs in September, while the unemployment rate held at a low 3.8% that month.

Persons: Jerome Powell, Philip Jefferson, That’s, ”, Mary Daly Organizations: DC CNN — Federal, Economic, of New, Treasury, ” San Francisco Fed, Traders, Commerce Department Locations: Washington, of New York, June’s, ” San, Israel

Sidney Powell, a former attorney for Donald Trump, pleaded guilty Thursday morning in a sweeping racketeering case and will testify against the former president on charges that he attempted to overturn the 2020 presidential election result in Georgia. Powell in a downtown Atlanta courtroom pleaded guilty to six misdemeanor counts and was sentenced to six years probation. Powell also agreed in the recorded statement to testify against any of the remaining defendants and to hand over any documents in her possession related to the case. Powell’s guilty plea marks the second such plea in the 19-person racketeering case that District Attorney Fani Willis spent two years developing. Scott Hall, a bail bondsman, pleaded guilty last month and agreed to testify at future trials.

Persons: Sidney Powell, Donald Trump, Powell, ’, Powell’s, Brad Raffensperger, Fani Willis, Scott Hall Organizations: Republican Party, Georgia’s Republican, Trump Locations: Georgia, Atlanta, Coffee County

Mr. Powell’s public calendar shows that he and Mr. Bankman-Fried met as planned. And Mr. Wetjen went on to send the Fed chair two policy papers that FTX had recently published, according to emails obtained through a public records request. “Hope you’re finding these useful!” Mr. Wetjen wrote. According to newly released records, Mr. Wetjen managed to gain access to a range of federal officials. And public calendars show that Mr. Bankman-Fried went on to meet with another top financial regulator, Martin Gruenberg, head of the Federal Deposit Insurance Corporation.

Persons: Jerome H, Powell, Sam Bankman, ” Mr, Mark Wetjen, Fried, Wetjen, FTX, Hope, Mr, Lael Brainard, Martin Gruenberg Organizations: Federal Reserve, Commodity Futures Trading Commission, Fed, White, National Economic Council, Federal Deposit Insurance Corporation Locations: Washington

☆ Defeating inflation without high unemployment is still unlikely
▼ + stars: | 2023-09-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

And the US economy’s surprising resilience, despite 11 rate hikes, has raised hopes of a soft landing becoming a reality. “I’ve always thought that the soft landing was a plausible outcome, that there was a path to a soft landing,” he said. But historical records show that a soft landing has only occurred once in the 1990s, or perhaps even a handful of times. The US Commerce Department releases its final estimate of second-quarter gross domestic product. The US Commerce Department releases August data on household income, spending, and the Fed’s preferred inflation gauge.

Persons: it’s, Jerome Powell, Powell, “ I’ve, ”, “, Powell’s, ” “ Jerome Powell, ” Quincy Krosby, Krosby, ” Krosby, Matt Egan, ” Neil Bradley, “ We’ve, Read, Christine Lagarde, Michelle Bowman, Austan Goolsbee, Lisa Cook, John Williams Organizations: CNN Business, Bell, DC CNN, Fed, LPL, CNN, Corporate, US Chamber of Commerce, European Central Bank, Costco, Global, Board, Survey, US Commerce Department, Micron, Nike, US Labor Department, National Association of Realtors, Carnival Corp, University of Michigan, New York Fed, China’s National Bureau of Statistics Locations: Washington

☆ How Wall Street makes money by predicting the Fed’s decisions
▼ + stars: | 2023-09-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

There, you will find a bar chart plotting the share of traders predicting a rate hike, cut or no change in interest rates at an upcoming meeting. Traders’ actions translate into interest rate decision probabilitiesWhen the Fed changes interest rates it’s actually changing what’s known as the federal funds rate target range. The federal funds rate is the interest rate banks charge each other to borrow money, and it impacts the interest rate consumers pay for a variety of loans, including some mortgages. But it wasn’t until 2013 that the CME Group launched the FedWatch tool, giving everyone access to the information without having to do complex calculations. Why the FedWatch Tool is so closely followedThe Fed’s interest rate decisions can have serious implications for your investments.

Persons: that’s, Jerome Powell, ” Powell, Agha Mirza, Mirza, ”, FedWatch, ” Mirza, Alex McGrath, Ben Bernanke, Ken Kuttner, Powell’s Jackson, Dow, Greg Daco, Daco, McGrath, ” McGrath Organizations: New, New York CNN, Federal, Chicago Mercantile Exchange, CME Group, CNN, Fed, Index, “ Investors, Williams College Locations: New York, EY

PinnedFederal Reserve officials are expected to leave interest rates unchanged at their meeting on Wednesday, buying themselves more time to assess whether borrowing costs are high enough to weigh down the economy and wrestle inflation under control. Central bankers have already raised interest rates to a range of 5.25 to 5.5 percent, the highest level in 22 years. At least a few officials might stop expecting another quarter-point rate move this year, predicting instead that interest rates have already reached their peak. If, on the other hand, officials expect to lower rates by less in 2024, it could be a signal that policymakers expect inflation to prove more stubborn. Fed officials will release fresh economic forecasts.

Persons: Jerome H, Powell, ”, Antúlio Bomfim, Powell’s, “, William English Organizations: Federal Reserve, Fed, Trust Asset Management, United Auto Workers, Yale Locations: America, Panama

☆ Opinion | Is ‘Peak Woke’ Behind Us or Ahead?
▼ + stars: | 2023-09-16 | by ( Ross Douthat | ) www.nytimes.com time to read: +1 min

The attempts to use “woke capital” to effect progressive change have met strong resistance, and corporations are losing enthusiasm for a vanguard role. Meanwhile, there is more intellectual and political energy in anti-wokeness now, evident not just in backlash in red states but in this autumn’s roster of new books, which includes critiques of social justice ideology from the socialist left, the center left and the right. The Supreme Court’s ruling against affirmative action has created new legal roadblocks for Kendi-style progressivism. The mood in elite journalism is less ideologically committed and more skeptical and critical. These exemplify a different aftermath for “peak woke” — not the ideology’s retreat, but its consolidation and entrenchment.

Persons: Trump, Jack Dorsey, —, ”, “, Michael Powell’s, ” — Organizations: Antiracist Research, Boston University

☆ Takeaways from the first Fulton County hearing on the Trump election subversion case
▼ + stars: | 2023-09-06 | by ( Jeremy Herb | ) edition.cnn.com time to read: +9 min

Here are takeaways from Wednesday’s hearing:Judge skeptical of a quick and joint trialMcAfee expressed skepticism about Fulton County District Attorney Fani Willis’ desire to hold a joint trial for all 19 defendants in October. “It just seems a bit unrealistic that we can handle all 19 (defendants) in 40-something days,” McAfee said. Trump is at the center of the Fulton County prosecutors’ alleged conspiracy, even as they charged 18 other co-defendants for taking part in efforts to overturn the 2020 election result. Special counsel Jack Smith took a different approach in his federal election subversion case, charging Trump alone and including six unindicted co-conspirators – several of whom are now Trump’s co-defendants in Fulton County. Scott Grubman, an attorney for Chesebro, suggested Trump’s presence in the Fulton County case could cloud how a jury views the other defendants.

Persons: Donald Trump, it’s, Kenneth Chesebro, Sidney Powell, Scott McAfee, Powell –, McAfee, Fani Willis ’, Willis, ” McAfee, Nathan Wade, What’s, ”, Judge, Powell, Chesebro, Sydney Powell, Kenneth Chesebro Getty, Kenneth Chesbro “, Cheseboro, Michael Moore, ” Moore, ’, Manny Arora, ” Arora, Arora, Trump, Brian Rafferty, Rafferty, “, Will Wooten, ” Wooten, Jack Smith, –, Scott Grubman, ” Grubman, Grubman, Meadows, Mark Meadows, – Robert Cheeley, Jeffrey Clark, Shawn Still – Organizations: CNN, Trump, Chesebro, RICO, McAfee, White House Locations: Fulton County , Georgia, Fulton County, Georgia, Coffee County , Georgia, Coffee County, Fulton, Chesebro

☆ Clashes mount between Trump and his legal nemesis
▼ + stars: | 2023-09-06 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

A dramatic series of legal developments in the Fulton County, Georgia, investigation – in which Trump and 18 co-defendants are also awaiting trial – encapsulated the breadth of the former president’s legal exposure. And 61% of Republican-leaning adults said that Trump is facing so many charges largely because of political abuse of the justice system. Trump uses criminal plight to fire up supportersTrump continually dials up the heat, underscoring how his legal defense and presidential campaign have merged. Smith may remain the ex-president’s greatest threat as the prosecutor with the best chance to complete a case against Trump early in the election year. New charges were also filed against Trump aide Walt Nauta and Mar-a-Lago maintenance manager Carlos De Oliveira.

Persons: Jack Smith, Donald Trump, Joe Biden, Smith, Trump, Mark Meadows, Fani Willis ’, Enrique Tarrio, Timothy Kelly, Tarrio, CNN Trump, Hunter, he’d, Tanya Chutkan, “, CNN’s Zachary Cohen, Paula Reid, Sidney Powell, Powell’s, Powell, Walt Nauta, Carlos De Oliveira Organizations: CNN, GOP, Trump, Trump White House, Republican, Republicans, Justice Department, Biden Locations: Florida, Washington, Fulton County , Georgia, Georgia, United States, Ukraine, Pennsylvania, Michigan, Arizona

Those charges center around a voting system breach in Coffee County, Georgia, a rural, Republican district that voted overwhelmingly for Trump in 2020. Willis’ indictment describes the breach, and Powell’s alleged involvement, as central to the broader conspiracy to overturn the 2020 election results in Georgia. Powell has also been identified by CNN as one of Trump’s un-indicted co-conspirators listed in Smith’s federal election indictment. New details about Smith’s ongoing investigation indicate federal prosecutors are scrutinizing a series of voting breaches following the 2020 election that state investigators have been probing for more than a year. Network of operativesIn addition, special counsel prosecutors have also heard from other witnesses about efforts to breach voting equipment in other states.

Persons: Jack Smith, indicting Donald Trump, Smith, Joe Biden, Sidney Powell, Powell’s, Powell, Fani Willis, Willis ’, Smith’s, Donald Trump, Al Drago, Biden, ”, Hugo Chavez, Bernie Kerik, Kerik, Tim Parlatore, Parlatore, Mike Ryan, Bill Bachenberg, Ryan, Bachenberg, Rudy Giuliani, John Eastman –, Jocelyn Benson, Benson, Stefanie Lambert, Nalio Chery, “, ” Benson, Lambert, Trump Organizations: Washington CNN, Trump, CNN, Biden, Republican, Republican National Committee, Bloomberg, Getty, The Coalition, Good Governance, Systems, Network, FBI, Smith’s, Michigan Michigan, Reuters, Pennsylvania, American, Pennsylvania Senate Locations: Georgia, Pennsylvania, Michigan, Arizona, Atlanta, Coffee County , Georgia, Washington , DC, Republic, Coffee, Antrim County , Michigan, Coffee County, Detroit , Michigan, Dieu, Antrim County, Fulton County , Pennsylvania, Fulton County

☆ The Fed likely won’t raise rates this month — but November is another matter
▼ + stars: | 2023-09-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike in July that brought rates to their highest level in 22 years. It’s hard to say definitively if or when the central bank will hike interest rates again this year. The Fed could hold rates steady for the rest of the year if both the job market and the broader economy continue to slow, helping bring down inflation. Higher for longer means keeping interest rates elevated for a prolonged period. China’s National Bureau of Statistics releases August inflation data.

Persons: hasn’t, ” Leslie Thompson, Thompson, Jerome Powell, Powell, Susan Collins, Powell’s Jackson, there’s, Raphael Bostic, Olesya Dmitracova, ” Patrick Hummel, David Lesne, Juan Perez, Carrascosa, Barnes & Noble Organizations: CNN Business, Bell, DC CNN, Federal, Financial, Spectrum Wealth Management, CNN, Fed, Kansas City, Boston, Yahoo, Finance, Atlanta Fed, Volkswagen, Renault, UBS, French, Swiss, Barnes &, The Reserve Bank of Australia, US Commerce Department, Eagle, Express, P Global, Institute for Supply Management, Bank of Canada, US Labor Department, Kroger, China’s National Bureau of Statistics Locations: Washington, Jackson Hole , Wyoming, Cape Town , South Africa, Europe

☆ What to expect from Friday’s jobs report: Steady, but slower, growth
▼ + stars: | 2023-08-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Minneapolis CNN —Last month, the Bureau of Labor Statistics delivered a jobs report that only Baby Bear could offer: not too hot, not too cold, but just right. While that figure was well below the breakneck pace of job growth over the past three years, it was roughly in line with the monthly average seen in the decade before the pandemic. The August jobs report, set to be released on Friday at 8:30 a.m. ET, is expected to show that the labor market will stay in this sweet spot. The Fed has been wanting to see more slack in the labor market in its battle to bring down inflation.

Persons: Minneapolis CNN —, ”, Julia Pollak, it’s, “, Pollak, Dean Baker, Jerome Powell’s, “ I’m, Rachel Sederberg, ” Andrew Challenger Organizations: Minneapolis CNN, of Labor Statistics, Federal Reserve, Center for Economic, Policy Research, Labor, CNN, Private, ADP, Challenger Locations: Minneapolis

☆ The Fed is ‘flying blind’ on the economy. Will this week’s jobs data help?
▼ + stars: | 2023-08-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

The Bureau of Labor Statistics kicks things off on Tuesday with the Job Openings and Labor Turnover Survey report for July. But the pace of job creation and demand by employers for flexible labor, temporary, contract and full time jobs, while still strong, has definitely slowed. Tell me about the ASA Staffing Index, which tracks weekly changes in temporary and contract employment. The ASA Staffing Index is a real-time snapshot of employment. So I think we may have seen a trough in terms of temporary employment and we could be seeing now the beginning of the upturn.

Persons: Bell, Richard Wahlquist, Jackson, Jerome Powell, Powell’s Jackson, we’ve, We’ve, they’ve, upticks, Alicia Wallace, ”, Janelle Griffith, Marsh, Brian Fung Organizations: CNN Business, Bell, New York CNN, Labor Statistics, Labor, ADP, Reserve, American Staffing Association, Fed, ASA, Panama Canal Authority, Amazon, Apple, Google, Meta, Microsoft, Companies Locations: New York, Jackson Hole , Wyoming, Panama, North American

☆ Market reactions to Powell speech
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +8 min

"It is the Fed's job to bring inflation down to our 2% goal, and we will do so," Powell said. "August has been a difficult month for the market, so it is hungry for news that will help reverse the trend. Investors are hanging on to every word, but the main takeaway is that Powell signaled that the Fed would raise rates if needed. Rather than last year's short but brutal speech, Powell opted for a longer and calmer speech. KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO"On balance, this is a modestly less hawkish speech than markets had feared.

Persons: Jerome Powell, Powell, CHRISTOPHER HODGE, MICHAEL GREEN, ANDRE BAKHOS, CARSTEN BRZESKI, Ann Saphir, Christine, Lagarde, ” JOSEPH LAVORGNA, “, ” STUART COLE, ” QUINCY KROSBY, there's, DAVID WAGNER, Jackson, BRIAN JACOBSEN, patting, KARL SCHAMOTTA, Bernanke, Draghi Organizations: U.S . Federal, Federal, NFP, Fed, ING, Kansas City, REUTERS, CHIEF, CPI, Global Finance, Markets, Thomson Locations: U.S, JERSEY, FRANKFURT, Kansas, Jackson Hole , Wyoming, NIKKO, LONDON, CHARLOTTE, NORTH CAROLINA, CINCINNATI , OHIO, WISCONSIN, TORONTO

The U.S. economy has avoided a threatened banking crisis and financial markets have not only aligned with the Federal Reserve's tight-credit policies but of late even helped the process by bidding up market interest rates. "I think Powell’s main effort is going to be explaining to what degree you want to hold (interest rates) higher for longer in the current outlook." Investors in contracts tied to the Fed's benchmark interest rate currently expect the Fed to begin reducing the policy rate next year from the current level set between 5.25% and 5.5%. Fed officials in fact have begun discussing the possibility of rate cuts down the road, at least in the context of steadily falling inflation. If inflation does decline as expected, Fed officials including Powell have suggested rate reductions might be appropriate to maintain a roughly constant inflation-adjusted "real rate."

Persons: Jerome Powell, Jackson, Jim Urquhart, JACKSON, Antulio Bomfim, Powell, who've, isn't, Adam Posen, William English, Donald Kohn, Howard Schneider, Andrea Ricci Organizations: REUTERS, Federal, Kansas, Fed, Northern Trust, Bank of England's, Committee, Peterson Institute for International Economics, Yale School of Management, Brookings Institution, Thomson Locations: Teton, Jackson , Wyoming, U.S, , Wyoming, Washington

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