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☆ Former Fed Chair Ben Bernanke says there's more work ahead to control inflation
▼ + stars: | 2023-05-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Saul Loeb | AFP | Getty ImagesWASHINGTON — Former Federal Reserve Chair Ben Bernanke, who guided the central bank and the U.S. economy through the Great Recession, thinks central bankers still have work to do to bring down inflation. Since leaving the Fed in 2014, Bernanke has been a distinguished senior fellow at the Brookings Institution. watch nowTheir paper notes that inflation has evolved since ballooning to a 40-year high in the summer of 2022. In a forum Tuesday presented by the Brookings Institution, Bernanke, Blanchard and other high-profile economists and academics discussed the root causes and what policymakers should do as they review policies for the future. The Fed only began raising interest rates in March 2022, a full year after its preferred inflation gauge eclipsed the target.

Persons: Ben Bernanke, Saul Loeb, Olivier Blanchard, Bernanke, Blanchard, Jason Furman, I'm, … Organizations: Federal Reserve, Thomas Laubach Research, Federal Reserve Board, AFP, Getty Images WASHINGTON, Former Federal, Fed, Brookings Institution, Peterson Institute for International Economics, of Economic Advisers, Harvard Locations: Washington , DC, U.S

☆ Federal Reserve officials are growing skeptical over suspending rate hikes
▼ + stars: | 2023-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some officials are concerned inflation isn’t cooling fast enough, which could prompt an 11th consecutive rate hike when policymakers meet in June. Federal Reserve Board Chair Jerome Powell and former Federal Reserve Board Chair Ben Bernanke (R) participate in a discussion at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb/AFP/Getty ImagesEarlier this month, Fed officials voted unanimously to raise the benchmark lending rate by a quarter point to a range of 5-5.25%, while signaling a possible pause ahead. Of course, Fed officials’ thinking on monetary policy could drastically change if the United States defaults on its debt, which could happen as soon as June 1. Fed officials always mention that their views on interest rates largely depend on what economic indicators show, resisting taking an absolute stance on how they will vote.

☆ How the U.S. and South Africa ended up in a dispute over Russian gunrunning allegations
▼ + stars: | 2023-05-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

WASHINGTON, D.C - Sep. 16, 2022: U.S. President Joe Biden meets with South African President Cyril Ramaphosa (L) in the Oval Office of the White House. SAUL LOEB/AFP via Getty ImagesRelations between the U.S. and South Africa frayed last week, when U.S. South Africa's Department of International Relations and Cooperation (DIRCO), released a rather different interpretation of the conversation in its readout. RICHARDS BAY, South Africa - Feb. 22, 2023: Russian military frigate "Admiral Gorshkov" docked at the port in Richards Bay on February 22, 2023. South Africa drew criticism from the U.S. and Europe for holding 10 days of joint naval exercises with Russia and China.

☆ Retail Sales to Show Americans’ Appetite to Spend in April
▼ + stars: | 2023-05-16 | by ( Gwynn Guilford | Sarah Nassauer | ) www.wsj.com time to read: 1 min

This week’s U.S. retail-sales data will provide the latest update on inflation and the economy. New data on existing home sales, the housing-market index and housing starts will also be released. Photo: Saul Loeb/Agence France-Presse/Getty ImagesApril’s retail-sales report will show consumers’ willingness to spend at stores and restaurants and online as easing inflation returns some spending power to shoppers. Consumers cut retail spending for the second straight month in March, pulling back on purchases of furniture, appliances and gasoline. But a solid labor market last month kept wage growth elevated while inflation cooled to its slowest pace in two years—which could in turn help boost consumer spending, the primary driver of economic growth.

☆ Stocks Close Higher With Debt-Ceiling Talks in Focus
▼ + stars: | 2023-05-16 | by ( Hannah Miao | ) www.wsj.com time to read: 1 min

This week’s U.S. retail-sales data will provide the latest update on inflation and the economy. New data on existing home sales, the housing market index and housing starts will also be released. Photo: Saul Loeb/Agence France-Presse/Getty ImagesU.S. stocks edged higher Monday as investors monitored debt-ceiling negotiations, coming off two consecutive losing weeks for the S&P 500. The Dow Jones Industrial Average ticked up 0.1%, or nearly 50 points. The tech-heavy Nasdaq Composite rose 0.7%.

☆ Biden is trying to lure Saudi Arabia's crown prince away from China with lucrative promises, despite once threatening to make him a 'pariah'
▼ + stars: | 2023-05-10 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

The US has replaced its threats with lucrative contracts for the crown prince as part of a high stakes power game being waged over dominance of the region. Biden last weekend dispatched his national security advisor, Jake Sullivan, to Saudi Arabia, for discussions with Saudi officials. Last year, Crown Prince Mohammed and Xi agreed to deepen their cooperation across a range of economic and security issues. Chinese President Xi Jinping holds talks with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud at the royal palace in Riyadh, Saudi Arabia, Dec. 8, 2022. "It is important to note that Saudi Arabia is not seeking to burn its bridges with the United States.

The US Federal Reserve Building is seen in Washington, DC, May 3, 2023. However, the Fed did hint at a possible pause to hikes. In Australia, the S&P/ASX 200 fell 0.24%, ahead of the country's March trade data due later Wednesday. Futures for Hong Kong's Hang Seng index were also lower standing at 19,656, compared to its last close of 19,699.16. Mainland Chinese markets are set to reopen after the Labor Day holiday, while Japanese markets are closed for a holiday Thursday.

☆ Biden Calls for Release of Jailed Journalist Evan Gershkovich, Other Detainees
▼ + stars: | 2023-04-29 | by ( John Mccormick | ) www.wsj.com time to read: 1 min

President Biden at the White House Correspondents’ Association dinner in Washington on Saturday. Photo: saul loeb/Agence France-Presse/Getty ImagesPresident Biden and others at an annual Washington dinner called for the release of jailed Wall Street Journal reporter Evan Gershkovich in Russia during a gathering that brought together members of the media and government officials to celebrate press freedom. Mr. Biden met privately with Mr. Gershkovich’s family, who attended the White House Correspondents’ Association dinner as Journal guests, as he arrived for Saturday’s black-tie gala and recognized them in his remarks.

☆ Space Force chief says U.S. is facing a 'new era' of threats beyond Earth
▼ + stars: | 2023-04-20 | by ( Morgan Brennan | ) www.cnbc.com time to read: +4 min

Chance Saltzman took the stage for his keynote at the Space Symposium in Colorado Springs, Colorado, this week, his message was simple: The U.S. is in a new era of space activity. "The threats that we face to our on-orbit capabilities from our strategic competitors has grown substantially," Saltzman, the U.S. Space Force's second-ever chief of space operations, said in a CNBC interview after the speech. Case in point: the Space Force's recently announced procurement strategy for more launch services. With business to be awarded next year, the National Security Space Launch Phase 3 is estimated to run into the billions of dollars and is expected to draw bids from the likes of Rocket Lab , Relativity Space and Jeff Bezos' Blue Origin, among others. While still just a fraction of the country's overall defense budget, the Space Force's $30 billion request for fiscal 2024 represents a 15% increase from this year's enacted levels.

☆ U.S.-China relations are going downhill with ‘no trust’ on either side, Stephen Roach says
▼ + stars: | 2023-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

US President Joe Biden and China's President Xi Jinping (L) shake hands as they meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. "Right now, there is no trust," he told "Squawk Box Asia" on Tuesday, who is currently attending the China Development Forum in Beijing. watch now"The balloon was a spark that really put us on a swift downhill descent," Roach added. The office did not provide details of her itinerary while in the U.S. On Taiwan, China has repeatedly said the issue is an internal affair. Every single Taiwan president in recent memory has done this," White House National Security Council spokesman John Kirby, said at a press briefing last week.

☆ Stocks Fall After Powell Comments, Latest Fed Rate Hike
▼ + stars: | 2023-03-05 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Photo: Saul Loeb/AFP via Getty ImagesU.S. stocks dropped Wednesday, giving up their initial gains, after the Federal Reserve approved raising interest rates to their highest level in 16 years. The S&P 500 slipped 0.7%, while the Dow Jones Industrial Average declined 0.8%, or 270 points, and the Nasdaq Composite lost 0.5%.

☆ How representation of Black artists in galleries, museums is changing
▼ + stars: | 2023-02-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

"There's a lot more support for Black artists that kind of came out of George Floyd's murder and institutions realizing that they need to do more," Peterson said. Saul Loeb | Afp | Getty ImagesThe market for work by Black American artists grew by nearly 400% between 2008 and 2021, according to a recent report from art market website ArtNet. Acquisitions of work by Black American artists peaked in 2015, two years after the start of the Black Lives Matter movement. "My impression is there are vastly increased number of solo shows and group shows dedicated to Black artists in London, in Paris, in New York, across the United States," Elliott said. Works from established artists like Kerry James Marshall that depict Black figures are influencing the work of new artists and creating a lineage, Elliott noted.

Biden's private lawyer disclosed on Saturday that DOJ officials turned up classified documents related both to Biden's vice presidency and even his time in the US Senate. Garland's swift announcement came after earlier news that a second batch of classified documents was found on Biden's property. Here, a timeline lays out Biden's involvement with the classified documents — and how it sometimes overlapped with the turmoil around Trump's classified documents probe. January 14: White House says more classified documents were found in Biden's homeAdditional pages of classified documents were found in Biden's Wilmington home in a storage room next to the garage, The New York Times reported. January 21: DOJ finds 6 more pages of classified documents in Biden's homeFederal investigators searched Biden's Wilmington home on Friday and found half a dozen classified documents, according to Biden's personal attorney, Bob Bauer.

☆ State of the portfolio: What Biden's address means for 10 Club stocks from Caterpillar to Ford
▼ + stars: | 2023-02-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

President Joe Biden 's State of the Union address put the spotlight on multiple tailwinds that will benefit 10 Club holdings including Caterpillar (CAT) and Ford (F). Linde Linde, a longtime Club holding, supplies industrial gases needed at semiconductor manufacturing facilities, known as fabrication plants. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ 1870 pin meaning: What the buttons and crayon lapel pins Congress wore to the State of the Union stand for
▼ + stars: | 2023-02-08 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com time to read: +3 min

President Joe Biden gave his second State of the Union address on Tuesday. Two pins — one that reads '1870' in white text atop a round black pin and various colored crayon-shaped pins with the Crayola logo — have garnered attention. 1870 PinRep. Ilhan Omar, D-Minn., conducts a television interview before President Joe Biden's State of the Union address in the U.S. Capitol on Tuesday, February 7, 2023. "153 years after the murder of Henry Truman, the Black community is still waiting for justice," Rep. Watson Coleman said. Crayola Crayon PinA lawmaker wears a pin of a white Crayola crayon during the State of the Union address in the House Chamber of the US Capitol in Washington, DC, on February 7, 2023.

Former President Donald Trump’s Facebook and Instagram accounts are being reinstated, the social media giant Meta announced Wednesday — a little more than two years after he was suspended from the platforms over incendiary posts about the Jan. 6 riot at the Capitol. Meta owns Facebook and Instagram. House Speaker Kevin McCarthy, R-Calif., then the minority leader, vowed to “rein in big tech power over our speech” after Facebook announced the length of Trump’s suspension in 2021. Trump’s presidential campaign officially petitioned Facebook to allow Trump back on to the platform this month. “If Facebook wants to have this fight, fine, but the House is leverage, and keeping Trump off Facebook just looks political,” the adviser said.

☆ US-China Tech War: How Money for Semiconductor Factories Costs Americans
▼ + stars: | 2023-01-19 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +15 min

If the first Cold War was defined by the development of nuclear weapons, this Tech Cold War is defined by the computer chip. The massive Intel plant in Ohio is a key part of the race with China for the future of tech. Even before the Intel plant, the Columbus area was well acquainted with these sorts of trade-offs. But, the Ohio State study found, Columbus' residential tax-abatement programs did little to meaningfully address the housing problem, while draining the city's funds. Federal, state, and local subsidies add up to billions of dollars that Intel is saving on its new Ohio semiconductor factory.

Ben Ferencz, the last surviving prosecutor from the Nuremberg trials, answered the phone in bright spirits. The trials marked the first time in history that mass murderers were prosecuted for war crimes, and Ferencz was only 27 at the time. He went on to play a crucial role in securing compensation for Holocaust survivors and in the creation of the International Criminal Court at The Hague. Now he was sitting at his desk in Delray Beach, Florida, a 102-year-old man answering a reporter’s questions with wit and remarkable recall. “Goodbye, Mr. Ohlendorf.”What did he think about the war in Ukraine and the uptick in antisemitic incidents around the globe?

The software that failed and forced the Federal Aviation Administration to ground thousands of flights on Wednesday is 30 years old and not scheduled to be updated for another six years, according to a senior government official. This system was installed in 1993 and runs the Notice to Air Missions system, or NOTAM, which sends pilots vital information they need to fly, the official said. Ronald Reagan Washington National Airport in Arlington, Va., was busy Wednesday after an FAA outage canceled and delayed flights. ET “to allow the agency to validate the integrity of flight and safety information” as it worked to restore the NOTAM system. The FAA lifted the ground stop around 8:50 a.m., and normal air traffic operations began resuming gradually.

☆ U.S. and Japan agree to strengthen alliance, citing China and North Korea
▼ + stars: | 2023-01-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

WASHINGTON — The United States and Japan unveiled plans Wednesday to strengthen their alliance to help counter threats from North Korea and China, which they called the greatest security challenge in the region. From left, Japanese Defense Minister Yasukazu Hamada, Hayashi, Blinken and Secretary of Defense Lloyd Austin in Washington on Wednesday. In addition, the U.S. space agency NASA plans to sign a cooperation deal with Japan on Friday, they said. Austin noted that Wednesday’s agreement affirms America’s “ironclad commitment to defend Japan with a full range of capabilities, including nuclear” and underscores that Article 5 of the mutual security treaty applies to the Senkaku Islands. That would make its defense budget the world’s third largest — a dramatic shift in Tokyo’s priorities that reflects growing concerns about North Korea and potential Chinese military action against Taiwan.

But even Democrats acknowledge the issue will give the new GOP-controlled House a fresh line of attack against the White House and may help Trump neutralize or counteract one of the most potent charges against him. And of course, the FBI investigation into classified documents on former Secretary of State Hillary Clinton’s private email server may have sunk her 2016 presidential campaign. Recent polls show most Americans have little interest in Congress investigating Biden and are more likely to trust him over Trump or the new Congress. “I think House Republicans have tied themselves into knots already,” Petkanas added, noting GOP lawmakers have downplayed Trump’s documents. James Comer said Trump’s documents are not 'a priority.’ So how can they with a straight face say that the Biden documents have legs but Trump’s do not?”

Travelers wait in the terminal after flights were delayed and canceled due to an FAA outage. FAA officials told reporters early Wednesday that the issues developed in the 3 p.m. It has a backup, which officials switched to when problems with the main system emerged, according to the source. They decided to perform the reboot early Wednesday before air traffic began flying on the East Coast in order to minimize disruption to flights. During this process, the FAA told reporters that the system was "beginning to come back online," but said it would take time to resolve.

☆ Biden classified documents: White House won't say why it didn't disclose earlier that records were found
▼ + stars: | 2023-01-10 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

U.S. President Joe Biden shakes hands with Canadian Prime Minister Justin Trudeau during a bilateral meeting at the North American Leaders' Summit in Mexico City, Mexico, January 10, 2023. "Why didn't the 'Justice' Department announce the Highly Classified documents found in the Biden Office before the Election?" Trump wrote in a post on his social media site, Truth Social. U.S. President Joe Biden attends a news conference at Waldorf Astoria in Jeddah, Saudi Arabia July 15, 2022. Evelyn Hockstein | Reuters"This discovery of classified information would put President Biden in potential violation of laws protecting national security, including the Espionage Act and Presidential Records Act," Turner wrote.

☆ Cassidy Hutchinson secretly back-channeled with the Jan. 6 committee before blindsiding her Trump-aligned lawyer in a bombshell deposition
▼ + stars: | 2022-12-23 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +11 min

Hutchinson told the panel that her Trump-aligned lawyer advised her to mislead lawmakers. ""Look, we want to get you in, get you out," Hutchinson said Passantino told her before the appearance. Reach out to them," Hutchinson told the panel, paraphrasing what Passantino told her of a job offer connected to former top Trump aide Jason Miller. Hutchinson said she told Farah, who was also a former House aide, to back channel with the January 6 committee. Former Trump White House aide Cassidy Hutchinson arrives for her public testimony in front of the January 6 committee.

☆ Fact Check-Low quality version of photo of Biden on Delaware beach misleads on social media
▼ + stars: | 2022-12-07 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A low-quality image of U.S. President Joe Biden posing beside two young girls has been misinterpreted by users who claim that he was behaving inappropriately. This is evil.”The posts show a low-quality image of Biden posing for a photograph with two young girls. It is clearly a right hand due to the thumb placement and it cannot be Biden’s as his right hand is already placed on the shorter girl’s shoulder. Biden is photographed with his right hand on the shoulder of the right girl and left hand on the back of the taller girl. A low-quality photograph of U.S. President Joe Biden posing with two young girls has been misinterpreted online.

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