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How Elon Musk’s endorsement of Trump may have backfired
  + stars: | 2024-09-01 | by ( David Ingram | ) www.cnbc.com   time to read: +4 min
Tesla and SpaceX CEO Elon Musk listens to President Donald Trump during a meeting with business leaders in the State Dining Room of the White House in Washington, Feb. 3, 2017. "They want to make Trump, Elon and people like them look like plutocrats," he said. "Elon Musk created the opportunity that Donald Trump took to unmask himself as rabidly anti-union, and he did that by praising Elon Musk's anti-union, union-busting perspective and endorsing the idea of illegally firing striking workers," he said. Harris, who is not related to Kamala Harris, said he views Musk's endorsement as a net negative. "No one views Elon Musk as a voice of the middle class," he said.
Persons: Tesla, Elon Musk, Donald Trump, Evan Vucci, Brendan Steinhauser, Mitt Romney, Steinhauser, Musk, Trump, Chip Somodevilla, Seth Harris, Joe Biden, Elon Musk's, Harris, Kamala Harris, David Nasaw, William Randolph Hearst, Andrew Carnegie, Nasaw, Franklin D, Roosevelt, Biden, Hearst Organizations: SpaceX, White, AP, Trump, Elon, Republicans, National Labor Relations Board, Labor, NLRB, Teamsters, Republican, International Brotherhood of Teamsters, Getty, Burnes Center, Social, Northeastern University, Hearst Locations: Washington, Texas, Michigan, Washington ,
"I'm really passionate about changing the support around the sport," Richard told CNBC in an interview after the Olympics ended. That content hopefully is not only driving more eyeballs to the men's gymnastics, but participants as well. Men's gymnastics consistently lags in popularity behind women's at the collegiate level, where meets are regularly televised, and at the international level. There are only 12 Division I NCAA Men's Gymnastics programs, and more are at risk of cuts. "I don't think it's ever been a situation where that many people are watching men's gymnastics … and left feeling like it was worth it."
Persons: Frederick Richard, medaling, Richard, Kevin Harts, Dwayne, Simone Biles, women's Organizations: Paris Olympics, CNBC, University of Michigan, NBC, Paris Games, USA, AP, NCAA, NBC Olympics Locations: TikTok
A search is underway for an Arizona woman who was swept away in a flash flood Thursday while hiking at Grand Canyon National Park. The flash flood happened around 1:30 p.m. local time and stranded several hikers in the area. “Rescue efforts began promptly, with an initial flight taking off before 3 p.m. to assist individuals stranded both below and above Beaver Falls,” the National Park Service said. Nickerson’s husband was also swept away but he was rescued by a group of rafters, NBC affiliate KPNX reported. The National Park Service is asking anyone with information about Nickerson to reach out to its tip line at (888) 653-0009.
Persons: Chenoa Nickerson, Gilbert, Ariz, Park Service Chenoa Nickerson, Nickerson’s, Nickerson Organizations: Park Service, National Park Service, NBC, KPNX, National, Service Locations: Arizona, Gilbert , Arizona, Havasu, Colorado, Beaver
Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. "The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic. Starting in the spring of 2022, the Fed raised interest rates to a level not seen in nearly two decades as it worked to combat soaring inflation. "Make no mistake, if the labor market shows signs of further cooling, the Fed will cut with conviction," Shah wrote. Lower interest rates will provide some relief to consumer borrowers, but it will not be immediate, according to Greg McBride, chief financial analyst at Bankrate.com.
Persons: Jay Powell, Powell, ” Powell, , Seema Shah, , Shah, Greg McBride, McBride Organizations: , Dow Jones, Nasdaq, midmorning, Market Committee, Management Locations: Jackson Hole , Wyoming, U.S
Read previewWarning: Major spoilers ahead for "Blink Twice." "Blink Twice," a new psychological thriller cowritten and directed by Zoë Kravitz, is stuffed with twists and turns. Naomi Ackie as Frida and Adria Arjona as Sarah in "Blink Twice." Just as Stan is about to shoot Frida, Sarah hits him in the head with a massive rock and kills him. "Blink Twice" is in theaters now.
Persons: , Zoë Kravitz, Kravitz's, Naomi Ackie, Frida, Slater King, Channing Tatum, Jess, Alia Shawkat, Slater, Sarah, Adria Arjona, MGM Studios Slater, she's, Stacey, Geena Davis, Arjona, Carlos Somonte, Kyle MacLachlan, Camilla, Liz Caribe, Heather, Trew Mullen, Tom, Haley Joel Osment, Heather clobbers Vic, Christian Slater, Cris Costa, Stan, Cody, Simon Rex, MGM Studios Frida, he's, Vic, Lucas, Levon Hawke, there's, It's, Shawkat, Ackie, Rich, who's, they're, Frida King, Tatum, Kravitz, Lenny Kravitz, Lisa Bonet Organizations: Service, King, Tech, Business, MGM Studios, Amazon MGM, King - Tech Locations: Beijing, Hollywood
AdvertisementAs someone who's also been dating through whatever it is we've been doing romantically since 2020, I've noticed that my dating costs are going through the roof. How much should a date cost? For alcohol-free drinkers, the average price of a coffee is about $6 in New York City, which is comparable with other markets. Meanwhile, an informal 2022 report found that the average cost of a full body wax was $152, and Cosmopolitan reported in January that low-end forehead Botox would cost you $300. But even with the high up-front cost of dating, getting into a long-term relationship might pay off in the long run.
Persons: Ben Keenan, he's, Keenan, , who's, we've, I've, Amy Nobile Messing, Damona Hoffman, Poyser, Messing, there's, Hoffman, Caesar, Josh rosé, Andy Kiersz, they'd, would've, aren't, Keenan's, daters Organizations: American Museum of, Business, Inmar Intelligence, Cosmopolitan, HingeX, Seattle, Bills Locations: Seattle, New York City, Los Angeles, Hudson , New York, New York, America
When people say they're concerned about "the economy," it can mean a lot of things — grocery prices, gas prices, housing prices, healthcare. For one thing, it's not clear that voters think Harris, as vice president, has had much involvement in Biden's economic policies. People remember the Trump economy as a better time — interest rates were lower, prices were lower, houses seemed more affordable. AdvertisementThe task for Harris now is to lay out an economic identity and agenda before others beat her to it. The Trump campaign and the GOP are trying to tie her to the negative feelings around the Biden economy, to affordability and inflation.
Persons: Kamala Harris, Joe Biden's, Harris, Kamala, Donald Trump, Bill Clinton's, Jim Carville, , it's, Biden, Trump, Harris — Trump, Evan Roth Smith, Smith, Eli Yokley, Mark Zandi, Tim Walz, Minnesota, Yokley, Whit Ayres, Donald Trump's, she's, He's, Bharat Ramamurti, Emily Stewart Organizations: Democratic, Republican, Financial Times, University of Michigan's Ross School of Business, Trump, Biden, Lake Research Partners, Democrat, Voters, Morning, Federal, Moody's, House, Democrats, National Economic, GOP, Business Locations: China, California, Las Vegas
SKIP AHEAD Best at-home teeth whitening products | How I picked the best teeth whiteners | Which teeth whitening product is right for you? The best at-home teeth whitening productsWith expert guidance in mind, I rounded up a handful of at-home teeth whitening products across types and price points. Best teeth whitening strips and traysIf you have sensitive teeth, I recommend Lumineux’s whitening strips since they don’t contain peroxides or bleaches that can be painful for those with sensitive teeth, according to the brand. Whitening toothpaste: Whitening toothpaste primarily relies on abrasives to help remove surface stains on teeth, according to the ADA. Teeth whitening trays: Teeth whitening trays are similar to whitening strips — they adhere to teeth and whiten using active ingredients while you wear them.
Persons: Ilona Casellini, Matt Messina, you’ve, , Messina, TikTok Organizations: Colgate, Burt's Bees, NBC, ADA, Apple, The Ohio State University College of Dentistry, Arlington Dentistry, Facebook, Twitter Locations: Los Angeles , California, Ohio, Arlington, Messina,
ET, the yield on the 10-year Treasury was up by less than one basis point to 3.9150%. The 2-year Treasury yield was last less than one basis point higher to 4.0188%. Treasury yields were little changed on Tuesday as investors looked to the release of key inflation data amid uncertainty about the state of the U.S. economy. The data could also provide hints about whether the Federal Reserve is likely to cut interest rates when it meets in September. Following recent market turmoil and economic uncertainty, questions have also emerged about whether the Fed should have already started cutting rates to avoid a hard landing.
Persons: Dow Organizations: Treasury, PPI, Dow Jones, Federal Reserve Locations: U.S
To start, the major funds that are marketed as "low volatility" or "minimum volatility" have been living up to the label. JPMorgan Asset Management has been a leader in this area, with Equity Premium Income ETF (JEPI) and Nasdaq Equity Premium Income ETF (JEPQ) now holding more than $48 billion in combined assets, according to FactSet. Another area is preferred stock funds. The biggest preferred stock ETF, the iShares Preferred & Income Securities ETF (PFF) , has gained 0.5% in the third quarter, though it has dipped 1.4% over the past month. "And those call features of a growing part of the preferred market has also helped in terms of the rate volatility and the impact."
Persons: Robert Hum, It's, it's, Hum, Yang Tang, John Burrello, Gary Kessler, Dodd Frank, Kessler Organizations: Trust, JPMorgan Asset Management, Nasdaq Equity, Nasdaq, Income Securities ETF, Goldman Sachs Asset Management, Preferred, Hybrid Securities, Federal Reserve Locations: BlackRock
Job hunters are facing a slowing labor market, but does that mean they should accept an offer without negotiating items like salary or remote work? You can use those preferences to filter your job search and to inform your discussions with a prospective employer. How to counter an offerIf your preferred job arrangement, such as fully remote work, isn't a complete deal-breaker, Goredema encourages you to continue the interview process until you receive a job offer. An offer in hand puts you in a "much stronger" position to negotiate the terms of your employment. Then say, 'Now, I'd really like to discuss next steps, and that includes compensation,'" or whichever aspect you're negotiating.
Persons: Octavia Goredema, it's, Stefanie Fackrell, isn't, Goredema
After tearing into each other in the past, the world's richest person and Republican presidential nominee have become close political allies. December 2016: Musk appointed to Trump's advisory councilsDonald Trump on Tuesday escalated his feud with Elon Musk in a series of Truth Social posts belittling the billionaire. May 2022: Musk said he would reinstate Trump's Twitter accountTesla CEO Elon Musk. "You know [Musk] said the other day 'Oh, I've never voted for a Republican,'" Trump said during a Saturday rally in Anchorage, Alaska. AdvertisementJuly 2022: Musk says Trump shouldn't run againElon Musk.
Persons: , Elon, Donald Trump, Trump, Musk, Yasin Ozturk, Hillary, Elon Musk, Evan Vucci, Uber, Travis Kalanick, flack, Alex Brandon, Musk's, Tesla, Justin Sullivan, He's, Thomas Edison, Jonathan Ernst, Chris Saucedo, unban Trump, Patrick T, Fallon, I've, Alexi Rosenfeld, getty, Seth Herald, Twitter, Ron DeSantis, DeSantis, David Sachs, John Moore, Joe Biden, Ohio Sen, JD Vance, Vance, MAGA, Biden, Kamala Harris, Harris Organizations: Service, Trump, Twitter, Business, CNBC, Elon, White, SpaceX, Donald Trump AP, America, Ford, General Motors, NASA's Kennedy Space Center, REUTERS, SXSW, Financial Times, US, Getty, Republican, and Freedom Coalition, White House, Radical Left, Florida Gov, The New York Times, GOP, Times, Republican National Convention, Ohio, Wall Street, Democratic Locations: United States, Paris, Anchorage , Alaska, California, Cape Canaveral , Florida, U.S, Nashville , Tennessee, Musks, Silicon Valley, Mexico, Eagle Pass , Texas, Eagle, , Texas, Washington, Ukraine, Lago, Harris
In today's big story, we're looking at how the startup landscape is drastically changing thanks to the entrance of private-equity firms and the rise of acquihires . Private equity is filling the gap left by a frozen IPO market and corporates unwilling or unable to cut deals, writes Business Insider's Melia Russell. Perhaps most importantly, a PE deal means equity holders get cash immediately, unlike an IPO that has some holding periods. Acquihires where the brains behind buzzy AI startups sell themselves (instead of the entire company) to bigger players are in vogue, writes BI's Ben Bergman and Sri Muppidi. Depreciation costs to massive GPU chip investments pose a huge risk for AI companies .
Persons: , You've, Alyssa Powell, Insider's Melia Russell, shivers, Samantha Lee, BI's Ben Bergman, Sri, acquihires, they'll, VCs, it's, Taylor Swift, Tyler Le, Fisker, Zuck, Elon Musk's, Mark Zuckerberg, Jenny Chang, Rodriguez, Biden, Donald Trump, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, SV Getty, Tech, guardrails, Character.AI, Getty, UBS, Mega, Revenue Locations: Europe, New York, London
Tracey Tee founded Moms on Mushrooms, a platform where moms can discuss, both online and in person, their interest and experiences with microdosing psilocybin mushrooms. "Some girlfriends invited me to a camping trip that summer [in 2020] to just camp out with some moms," Tee says. She lives in Colorado where psilocybin mushrooms are legal to grow, use and share. So, Tee sought out an alternative solution for managing her mental health as she began to wean herself off the SSRI: microdosing psilocybin mushrooms. Moms on Mushrooms is the platform Tee created for moms to discuss their interest and experiences with psilocybin mushrooms.
Persons: Tracey Tee, Tee, that's, wean, Tee wasn't, Microdosing, microdosing, Louis, Joshua Siegel, Siegel Organizations: Lancet, Facebook, CNBC, Washington University School of Medicine, Washington University, NYU Langone Health, Center, Psychedelic Medicine, Psychedelic Locations: Colorado, St
Aiming to unseat three-term Democratic incumbent Jon Tester, Sheehy is founder of Montana-based Bridger Aerospace, an aerial firefighting company. On July 1, Sheehy resigned as chief executive of Bridger to focus on his Senate campaign; the company is seeking a replacement. In mid-June, an editorial in The Wall Street Journal echoed Griffin’s view, branding Sheehy’s company Bridger a success. The PAC spent $5.3 million for Sheehy and $5.7 million against his opponent, Tester, records show. In 2022, Sheehy’s cash and stock compensation neared $5 million, and last year, he received $2.5 million, Bridger’s proxy says.
Persons: Donald Trump, Tim Sheehy, Jon Tester, Sheehy, , Bridger, Tim, ” Katie Martin, Louise Johns, Ken Griffin, Griffin, Stephen Schwarzman, “ Tim Sheehy, ” Griffin, Marc Cohodes, Cohodes, Sheehy’s, , Scott Olson, Blackstone, Matthew Sheehy, Bridger’s, Blackstone Tim Sheehy, Blackstone’s, ” Jon Tester, Andrew Harnik, Schwarzman, haven’t, Farrah Saint, Surin, Matthew, Martin, Bridger ”, Montana . Don, Melinda Crawford, Todd Hirsch, Thomas A, Waldman, Yocca Carlson, I’ve Organizations: Navy, Republican, Montana, Bridger Aerospace, International, Interior Department, U.S . Forest Service, Agriculture Department, Bloomberg, Getty, Wall, Citadel LLC, PAC, Commission, The Blackstone, “ Bridger Aerospace, Blackstone, Small Business Administration, Republican National Convention, Trump, , Cattle Company, Tallgrass Energy, Blackstone Group, Bridger, Forest Service, Bridger Air Tanker LLC, Bridger Air Tanker, SBA, ” Companies, Federal, NBC News, Mountain Air LLC, Mountain Air, Air, Service, U.S ., , Montana ., Rauth Locations: Bozeman , Montana, Bozeman, Mont, New York City, Bridger, America, Montana, Gallatin County, Milwaukee, Riding, disbursements, Surin, ” Saint, U.S, Los Angeles
The Federal Reserve is gearing up to cut interest rates as soon as next month, which could bring relief to people with mortgages, credit cards and car loans. Certificates of deposit — fixed-rate bank accounts with term limits — are a go-to when interest rates are high. With interest rates coming down, the idea is just pay and save as much as you can right now. There’s no bad time to do that, but when the central bank lowers interest rates, it can be even more valuable. “It’s tempting to say, ‘Well, when interest rates go down, stocks are going to do well, because people are switching from low-return to higher-return assets,’” she said.
Persons: Mark Hamrick, , , Hamrick, Rodney Lake, Laura Veldkamp, Veldkamp, Jude Boudreaux, now’s, ” Jude Boudreaux, you’re, ” Boudreaux, ” DON’T, Jonathan Smoke, Cox, Edmunds, Ivan Drury Organizations: Federal, GW Investment, George Washington University School of Business, Columbia University’s Graduate School of Business, Chipping, Columbia Business, Philadelphia Fed, Federal Reserve, Mortgage, Association, Fed Locations: U.S, Orleans, New Orleans, Edmunds
The company's sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. He added that its Bronzing Drops serum quickly became a best seller on the company's website after its launch during the quarter. Following quarter after quarter of outsized growth, Wall Street has come to expect a lot from E.l.f. The company now anticipates its adjusted net income will be between $198 million and $201 million, compared with a previous outlook of between $187 million and $191 million. During the quarter, selling, general and administrative expenses increased by roughly $88.6 million to $180.6 million, representing 56% of net sales.
Persons: Tarang Amin, E.l.f, Mandy Fields, Fields, I'm, we're, Amin, we've, Gen Z, We'll, Gabby Douglas, Anastasia, Tas, Jameela Jamil Organizations: CNBC, LSEG, Alpha Locations: E.l.f
Courtesy Peter MontgomeryThat ability to make a career conform, where possible, to an employee's life is one of the simple and often inexpensive ways employers can boost their employees' well-being. AdvertisementA recent Gallup survey found worker well-being slipped globally to 34% in 2023 from 35% the year before. Boosting worker well-being is good for employees, of course, but it's also good for the bottom line. And it's critical for boosting other measures of corporate and worker health — things like engagement on the job. A small number of business leaders review requests to keep the process simple and to respect worker privacy, she said.
Persons: Peter Montgomery, Montgomery, he's, it's, Erica Golden, Golden, Bradd Chignoli, Chignoli Organizations: Gallup, Banyan Software, Workers, MetLife Locations: Wellington , New Zealand, Montgomery
Henry Cavill posted a photo of his "Deadpool & Wolverine" cameo on Instagram. He appeared to make a joke about shaving his mustache off, referencing the poor CGI in "Justice League." Go to newsletter preferences Thanks for signing up! AdvertisementHenry Cavill spoke about his cameo in "Deadpool & Wolverine" for the first time, and appeared to joke about the poor CGI used to smooth out his face in "Justice League." "Deadpool & Wolverine" movie brings Deadpool (Ryan Reynolds) into the Marvel Cinematic Universe as he tries to save his world from being wiped out by the Time Variance Authority.
Persons: Henry Cavill, , Ryan Reynolds, Hugh Jackman Organizations: Marvel, Justice, Service, Business
First, when everything is being sold – and just about everything is being sold on Monday – someone is in big trouble. The spillover effect – exacerbated by a Federal Reserve reluctant to cut interest rates even as inflation cools – has put all assets on sale. This suggests that fears of a financial market problem are greater than those of a widening Middle East war. Should the situation become more tumultuous, the Fed could be forced into cutting interest rates between meetings. Indeed, when the Fed responded to the 1998 event by cutting interest rates , stocks went on a tear before topping out in 2000.
Persons: I've, Michael Gayed, Cashin, It's, Stanley Druckenmiller, Japan —, Ron Insana Organizations: Federal Reserve, Nikkei, UBS, Term Capital Management, CNBC Locations: Japan, Israel, Iran
Brynden Rivers/Lord Bloodraven in the "House of the Dragon" season two finale. Sydow's character also doesn't have the same red birthmark on his face as Brynden does in "House of the Dragon." It's possible this could be explained in "House of the Dragon" with the idea that the Three-Eyed Raven simply managed to change his appearance over time. Shortly after, the Night King and the White Walkers assault the cave where the Three-Eyed Raven lives. It's not clear whether Brynden/the Three-Eyed Raven will suffer the same fate in Martin's future books.
Persons: , Daemon Targaryen, Matt Smith, Brynden Rivers, Bloodraven, Alys Rivers, Gayle Rankin, Daemon, White, Daenerys Targaryen, Emilia Clarke, Westeros, Targaryen, Emma D'arcy, Lord Bloodraven, HBO Brynden, He's, King, King Aegon IV, Rivers, George R, Bran Stark, Crow, Max von Sydow, Isaac Hempstead Wright, Max Von Sydow, Stark, Raven, Bran, Martin hasn't, Jon Snow, Kit Harington, Lyanna Stark, Prince Rhaegar Targaryen, Ellie Kendrick Organizations: Service, Business, HBO, White, King Aegon, White Walkers Locations: Brynden, Alys, Harrenhal, Rivers, Brynden Rivers
Treasury yields tumble as recession concerns take hold
  + stars: | 2024-08-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
ET, the yield on the 10-year Treasury was down by over eight basis points to 3.7099%. The 2-year Treasury yield was last at 3.7315% after falling by around 14 basis points. U.S. Treasurys slid on Monday as fears about a recession grew after a series of key economic data was released last week. The data suggested an easing of the labor market, which prompted concerns about a recession. That came after the Fed earlier in the week left interest rates unchanged and hinted at a September rate cut.
Persons: Treasurys, July's nonfarm, Dow Jones Organizations: Treasury, Dow, Fed, PMI
Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Such escalation could also jeopardize efforts to reach a ceasefire in Gaza and release hostages, despite recent progress in negotiations. Israeli Defense Minister Yoav Gallant and US Secretary of Defense Lloyd Austin discussed comprehensive security strategies to protect Israel, according to a statement on Monday. Israel was considering its options to prepare for a regional attack over the weekend. The country braces for war in its own way and tends to pick up after itself.
Persons: Ayatollah Ali Khamenei, Ismail Haniyeh, , Israel, Israel hasn’t, , Yoav Gallant, Defense Lloyd Austin, Michael Kurilla, Kurilla, Ayman Safadi, Badr Abdelatti, Ali Bagheri Kani, , Masoud Pezeshkian, Safadi, Nasser Kanaani, Fu’ad Shukr, Majdal Shams, Hassan Nasrallah, Benjamin Netanyahu, ” “, ” Netanyahu, Ali Bagheri, Netanyahu, Gallant, Daniel Hagari, Lebanon scrambledto, floaties, Samer Othman, Jalaa Marey, Othman, Liz Nicholas, David Adom, Be’er, Ivana Reiser, Zeev Jabotinsky, Naama, ” Be’er, ” Baer, Reiser, Roy Dror, Ron Heckmann, they’re, Dror, ” Heckmann, Uri Shacham, Shacham Organizations: Jerusalem CNN —, Iran’s, Islamic Revolutionary Guard Corps, Saturday, US, Israeli, Defense, US Central Command, Jordanian, Egypt’s, Zionist, Israel, Iran, Sunday, Getty Images Israel, Hezbollah, CNN, Mount, Mount Herzl Military, Getty, MDA Locations: Beirut, Tel Aviv, Jerusalem, Israel, Iran, Tehran, Lebanon, Gaza, United States, Syria, Majdal, Golan, , AFP, Cairo, Lebanese, Beirut’s, Mount Herzl, London, Nahariyah
To help her clients, Lev incorporates schema therapy, which involves each partner learning about how their core beliefs. She said she can predict what a couple's arguments are before she even meets them 90% of the time. Advertisement"When we look at what people believe, it tells us about how they behave," Lev told Business Insider. Learning about your schemas can not only solve problems with your partner but also help you become more vulnerable or assertive. It's to help people move closer to emotional maturity — or recognize when a relationship just isn't good for them.
Persons: , they're, Avigail Lev, Lev, Jeffrey E, Young, she's, didn't, engulfment, we'd Organizations: Service, Business Locations: San Francisco
Investors are increasingly hopeful that will push Federal Reserve officials to come to their rescue with an emergency rate cut. But if something comes up in between those meetings that changes their views on the ideal level for rates, officials can gather for an unscheduled “emergency” meeting. By doing two large emergency cuts in succession, Fed officials didn’t have to weigh whether their actions would unnecessarily cause Americans to panic. Before those cuts, the last time the Fed was promoted to do an emergency rate cut was in the thick of the Great Recession shortly after Lehman Brothers collapsed in the fall of 2008. But he said he was “reluctantly” comfortable with an emergency cut since other central banks were doing it.
Persons: Austan Goolsbee, there’s, Lehman Brothers, ” Charles Plosser, , , That’s, Janet Yellen, ” Yellen, Plosser Organizations: New, New York CNN, Federal, Chicago Fed, New York Times, Philadelphia Fed, Bank of Canada, European Central Bank, Bank of England, San, Committee, Fed, Treasury Locations: New York
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