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☆ The Fed just held interest rates and signaled future hikes at the same time – a move that baffled many. Here's how Larry Summers, Mohamed El-Erian, and others have reacted.
▼ + stars: | 2023-06-17 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

The Fed pressed pause on its interest-rate increases this month after boosting borrowing costs 10 times since early 2022. The move spurred a wave of commentary given the central bank at once held rates and signaled more hikes. "It seems like the unanimity of opinion that we need more rate hikes has been clear, but the path of rate hikes is all over the place," he added. "It was what I would call, an awkward but hawkish pause," he added. Peter Schiff, chief global strategist at Euro Pacific Capital"Don't believe the hype on the Fed's hawkish pause on rates.

Persons: Larry Summers, Mohamed El, David Rosenberg, Jeff Gundlach, —, Jerome Powell, Summers, Erian, Tom, Dick, Harry, " Rosenberg, Gundlach, Steve Forbes, Forbes, Don't, Richard Clarida, they've, they're, Clarida, Whitney Watson, Watson, Peter Schiff, Schiff Organizations: Fed, Service, Federal Reserve, Bloomberg, Erian, Allianz, CNBC, Federal, Global, Goldman Sachs, Euro

☆ George Santos called on the House to censure Adam Schiff. But when his vote was needed to support the measure, he instead voted 'present'
▼ + stars: | 2023-06-15 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

Rep. George Santos called on the House to censure Rep. Adam Schiff. "We must preserve the integrity of the US House of Representatives and censure Adam Schiff today." When it came time to vote, however, Santos instead voted "present." Instead, he voted "present" instead of "nay" on a motion to table the censure bill. "We must preserve the integrity of the US House of Representatives and censure Adam Schiff today."

Persons: George Santos, Adam Schiff, Santos, —, Anna Paulina Luna's, Donald Trump, Schiff, Thomas Massie, Pelosi, Luna — Organizations: Service, Twitter, Republicans, Democrats, Republican

☆ GOP Fails in Effort to Punish Adam Schiff Over Trump Probes
▼ + stars: | 2023-06-14 | by ( Siobhan Hughes | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/gop-fails-in-effort-to-punish-adam-schiff-over-trump-probes-26f65cfd

Persons: Dow Jones, schiff

☆ U.S. House votes down Republican motion to censure Democrat Adam Schiff
▼ + stars: | 2023-06-14 | by ( Moira Warburton | ) www.reuters.com time to read: +2 min

WASHINGTON, June 14 (Reuters) - The U.S. House of Representatives on Wednesday rejected a Republican effort to censure Representative Adam Schiff, a Democrat who played a leading role in the first impeachment of then-President Donald Trump in 2019. The Republican-controlled chamber defeated the motion by a vote of 225 to 196, with 20 Republicans joining 205 Democrats in opposition. Schiff is running for California's Senate seat in 2024 and sent a fundraising email based on Wednesday's censure move. Republican Representative Paul Gosar was censured in 2021 after he posted a cartoon video that showed him killing Democratic Representative Alexandria Ocasio-Cortez, the first time the censure had been used in a decade. In a letter to Democratic colleagues, Schiff called the motion "not only a terrible misuse of House precedent and resources, but a clear attack on our constitutional system of checks and balances."

Persons: Adam Schiff, Donald Trump, Anna Paulina Luna, Matt Gaetz, Lauren Boebert, Schiff, Paul Gosar, Alexandria Ocasio, Cortez, Trump, Moira Warburton, Andy Sullivan, David Gregorio Our Organizations: U.S . House, Republican, Democrat, Republicans, Senate, Democratic, House, U.S . Capitol, Thomson Locations: Ukraine, Washington

☆ George Santos supports censure of Adam Schiff: 'We must preserve the integrity of the U.S House of Representatives'
▼ + stars: | 2023-06-14 | by ( Taylor Berman | ) www.businessinsider.com time to read: +4 min

Rep. Adam Schiff is facing censure for investigating Trump. Rep. George Santos, who has repeatedly lied and was recently indicted on 13 criminal charges, supports the censure. The Santos-supported resolution calls for the fine because, it claims, Schiff "lied, made misrepresentations and abused sensitive information." Beyond his legal troubles, Santos has lied about his education, his employment history, his residence, his religious background, and more. Luna, who sponsored the censure resolution, is one of the few members of Congress continuing to stand by Santos.

Persons: Adam Schiff, Trump, George Santos, —, Donald Trump, Anna Paulina Luna of, Schiff, Santos, Carter, Volodymyr Zelensky, Diane Feinstein, MAGA, Donald Trump's, retaliating, I'm, Pelosi, Thomas Massie, He's, Luna Organizations: Rep, Service, Democratic, GOP Rep, Trump, U.S, CNN, Intelligence, Ukrainian, Senate, GOP Kentucky Rep, The Washington Post Locations: Anna Paulina Luna of Florida, George Santos of New York, HPSCI

☆ Steve Garvey, All-Star for the Dodgers and Padres, Explores Senate Run in California
▼ + stars: | 2023-06-02 | by ( Neil Vigdor | ) www.nytimes.com time to read: 1 min

Steve Garvey, a perennial baseball All-Star in the 1970s and 1980s for the Los Angeles Dodgers and San Diego Padres, said on Friday that he was weighing a run for the United States Senate in California as a Republican. a celebrity name in the high-profile race to replace Senator Dianne Feinstein, 89, a Democrat, who is the chamber’s oldest member and is retiring at the end of her term. She has recently struggled with health problems that have prompted calls from some fellow Democrats for her to retire sooner. In heavily Democratic California, the race has drawn tepid interest from Republicans. California hasn’t elected a Republican to the Senate since 1988, and a host of prominent Democrats are waiting in the wings, including Representatives Adam Schiff, Katie Porter and Barbara Lee.

Persons: Steve Garvey, Dianne Feinstein, Adam Schiff, Katie Porter, Barbara Lee Organizations: Los Angeles Dodgers, San Diego Padres, United States, Republican, Democrat, Republicans, California hasn’t Locations: California, Democratic California

☆ McCarthy may need Democrat support to pass the debt ceiling deal and a secret group of moderates may be there to catch him if the GOP revolts, report says
▼ + stars: | 2023-05-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

President Biden and House Speaker McCarthy reached a debt ceiling agreement yesterday. The proposal must pass in the House, where some GOP members have said they won't support it. A group of Democrats has formed to help carry the bill if GOP members revolt, Politico reported. "We'll protect him if he does the right thing," Politico reported one of the House Democrats involved in the talks said. "I don't think McCarthy's the kind of guy who wants this to be his kind of legacy," Politico reported the representative said.

☆ California Rep. Ro Khanna again calls on Dianne Feinstein to resign over health concerns: 'It's painful to watch.'
▼ + stars: | 2023-05-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Rep. Ro Khanna said it was "painfully obvious" that Sen. Feinstein should no longer serve in office. "I think they should have a loving conversation about it being time," Khanna said of Feinstein's confidantes. "First, let me say, I admire her career," Khanna told Wagner. Upon her return to the Senate, Feinstein appeared disoriented as an aide whisked her through the Capitol, according to The Times. "While she has had a lifetime of public service, it is obvious she can no longer fulfill her duties.

☆ With Feinstein Ailing, Newsom’s Vow Looms Over Senate Race
▼ + stars: | 2023-05-19 | by ( Thomas Fuller | Shane Goldmacher | ) www.nytimes.com time to read: +1 min

Two years ago, Gov. Gavin Newsom of California vowed on national television that if Senator Dianne Feinstein stepped down early, he would appoint a Black woman to replace her. It was a promise that was only theoretical at the time even though questions were already emerging about the fitness of Ms. Feinstein, who turns 90 next month, to serve out her term. But after Ms. Feinstein contracted shingles earlier this year, was homebound and then returned to Washington frailer than ever, the contingency plan has become far more pressing — and more politically complicated. Now, if a vacancy comes, Mr. Newsom would have to decide whether to elevate Ms. Lee over her white rivals or find a caretaker who would agree not to seek a full term in 2024, presuming he keeps his pledge.

☆ Dianne Feinstein didn't reveal she had complications from shingles like brain swelling and facial paralysis: New York Times
▼ + stars: | 2023-05-18 | by ( Madison Hall | Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Sen. Dianne Feinstein was absent from the Senate for nearly three months due to shingles, her office has said. A report from the New York Times, however, noted she was diagnosed with several complications stemming from shingles. According to a New York Times report, which relies on anonymous sourcing, said that Feinstein's shingles moved to her face and neck, leading to balance and vision problems along with partial facial paralysis. As the New York Times noted, post-shingles encephalitis can lead to "lasting memory or language problems, sleep disorders, bouts of confusion, mood disorders, headaches and difficulties walking." Even prior to her shingles diagnosis, reports indicated Feinstein appeared to have mental acuity issues.

☆ Pelosi's daughter is Dianne Feinstein's primary caregiver at the Capitol, but the former speaker denies using the relationship to help her protégé replace the aging senator
▼ + stars: | 2023-05-18 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Since Dianne Feinstein returned to office in May, Nancy Pelosi's daughter has been alongside her. A recent report from Politico suggested Pelosi could be using her daughter to keep Feinstein from retiring, possibly helping Rep. Adam Schiff's chances of replacing her. Pelosi's office denied any political motives for aiding Feinstein. Feinstein, 89, missed several months of votes in the Senate due to her diagnosis in February before returning in May. And earlier this week, Feinstein denied ever missing time away from the Senate due to shingles.

☆ Dianne Feinstein claimed she hasn't 'been gone' when asked about her lengthy absence from the Senate: 'No, I've been here. I've been voting'
▼ + stars: | 2023-05-16 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Sen. Feinstein insisted to reporters on Tuesday that she hasn't been absent from the Senate. I've been voting," she told LA Times' Ben Oreskes at the Capitol on Tuesday. The 89-year-old senator returned to Washington last week after a nearly 3-month-long absence. "No, I haven't been gone," she told the Times' Ben Oreskes on Tuesday when asked how her Senate colleagues have responded to her return. Feinstein then reportedly deflected a question about lawmakers calling for her to resign before an aide wheeled her away.

☆ 'Free speech opportunist' Elon Musk caved to government pressure to censor tweets ahead of the Turkish election. Critics argue SpaceX dealings with the country's right-wing leader may have caused the
▼ + stars: | 2023-05-14 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Elon Musk's reputation as a free speech absolutist took another hit on Saturday after Twitter sided with the Turkish government and censored the accounts of political opponents ahead of a contentious election. Targeted Turkish dissidentsThe details of the legal request and which specific accounts were targeted were not made public. Yakut had previously shared information about Erdogan's governmental dealings and alleged the Turkish leader had been involved in the disappearance of his son-in-law, Turkish Minute reported last week. "I'm sure this is just a coincidence," users on Twitter posted, some sarcastically, circulating news of Musk's business dealings with Turkey. Musk and representatives for Twitter, SpaceX, and the Republic of Turkey did not immediately respond to Insider's requests for comment.

☆ US lawmakers seek probe of how Elon Musk's brain chip venture oversees animal experiments
▼ + stars: | 2023-05-12 | by ( Rachael Levy | Thomson Reuters | Award-Winning Journalist Covering Corporate Governance. Her Reporting Has Prompted Federal Investigations | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoWASHINGTON, May 12 (Reuters) - U.S. lawmakers will ask regulators to investigate whether the make-up of a panel overseeing animal testing at Elon Musk's brain-chip startup Neuralink contributed to botched and rushed experiments. The lawmakers have shared the draft with peers to gather more signatures and plan to send it to the USDA on Monday. A spokesperson for Blumenauer said the USDA did not respond to an earlier request from lawmakers for a probe into Neuralink in the wake of that story. Musk and Neuralink representatives, and spokespeople for the USDA and the agency’s inspector general, did not respond to requests for comment. The Inspector General and the USDA did not respond to a request for comment on the progress of that investigation.

☆ Dianne Feinstein once mistook GOP Sen. Tim Scott for Democratic Sen. Raphael Warnock, book says
▼ + stars: | 2023-05-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Dianne Feinstein once mistook two different Black senators, according to a story relayed in a new book. She confused GOP Sen. Tim Scott for Democratic Sen. Raphael Warnock, saying she'd been rooting for him. Scott reportedly played along, telling Feinstein that her "support means a lot." Scott, a Republican who's served in the Senate since 2013, is said to have played along with Feinstein's apparent confusion. Dean Phillips 🇺🇸 🟧 (@RepDeanPhillips) April 12, 2023But on Wednesday, Feinstein finally returned to the Capitol, continuing to suffer balance and vision impairments.

☆ Dianne Feinstein returns to the Senate following a nearly 3-month absence and calls for her resignation from fellow Democrats
▼ + stars: | 2023-05-10 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Sen. Dianne Feinstein returned to the US Senate on Wednesday. Several fellow Democrats called for her to resign, arguing her absence imperiled their party's agenda. The 89-year-old California Democrat returned this week after spending nearly 3 months away from Washington due to complications from a shingles infection. But her prolonged absence created a deadlock on the Senate Judiciary Committee, preventing Democrats from swiftly advancing nominees to the floor that lacked Republican support. Feinstein arrived at the Capitol just before 3pm on Wednesday and was greeted by Senate Majority Leader Chuck Schumer.

CNN —Democratic Sen. Dianne Feinstein of California, who has been away from the Senate since February while recovering from shingles, will return to Washington on Tuesday, according to a spokesperson. Feinstein sits on the Senate Judiciary Committee, and without her vote on the panel, Democrats said that they would have to delay some of President Biden’s key judicial nominees. In April, Democratic Rep. Ro Khanna of California became the first member of Congress to call on Feinstein to resign. In April, the California senator asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee, and he proposed that Maryland Sen. Ben Cardin take her spot. She needs to get well so she can get back to work,” Iowa Sen. Chuck Grassley, who is also 89, said.

☆ Photo of Chuck Schumer's notes show he's 'hopeful' Dianne Feinstein returns to the Senate next week
▼ + stars: | 2023-05-03 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Chuck Schumer and Dianne Feinstein are "hopeful" she'll return to the Senate next week, per a photograph of Schumer's notes. Feinstein hasn't voted in the Senate since mid-February, around the time of her shingles diagnosis. In her absence, Senate Democrats have faced difficulties confirming judges. With Feinstein absent from the Senate, Senate Republicans — along with Democratic Sen. Joe Manchin — voted 50-49 to roll back a Biden-era Environmental Protection Agency rule regarding pollution from trucks. Several prominent California Democrats have already declared to run for her seat, including Reps. Adam Schiff and Katie Porter.

The NCAA also argued the plaintiffs' division of damages unlawfully favored male athletes over female ones. In a statement, the NCAA said the plaintiffs' claims for "billions of dollars in damages" do not have "legal or factual support." Plaintiffs' lawyers for years have challenged rules that prohibited college athletes from receiving compensation. Class actions provide plaintiffs an avenue in court to pursue claims collectively rather than as individuals, imposing greater pressures on defendants. The plaintiffs' lawyers have asked the court to approve three classes seeking monetary damages: football and men's basketball; women's basketball; and an additional sports class.

☆ These are the top Senate races to watch in 2024
▼ + stars: | 2023-04-28 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +8 min

They have reason to be hopeful: Democrats face a daunting 2024 Senate map that puts them on defense in 23 of the cycle's 34 races, including multiple seats considered ripe for GOP challenges. The grim outlook has some Senate Democrats considering retirement, even after the caucus expanded to a 51-49 majority following a better-than-expected showing in the midterms. Jim Justice, reportedly the state's richest man and one of its favored contenders for the Senate race. But the 2024 Senate race in Ohio is currently considered a toss-up, as Republicans have made significant gains in the state in the last two election cycles. Sabato's Crystal Ball and the Cook Political Report both say the Michigan Senate race leans Democratic.

☆ House Dems start to call on Sen. Dianne Feinstein to resign
▼ + stars: | 2023-04-12 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Two Democratic members of Congress just called on Sen. Dianne Feinstein to retire. "I agree with @RoKhanna," Phillips wrote, "Senator Feinstein is a remarkable American whose contributions to our country are immeasurable. Feinstein, who's 89 years old, hasn't cast a vote since mid-February, around the time of her shingles diagnosis. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 votes to the Republican Party's 10. Without Feinstein present, committee chair Sen. Dick Durbin has for delay committee meetings on multiple occasions when Feinstein would be the pivotal 11th vote, according to NBC News.

☆ Reactions as former President Donald Trump arraigned in New York City
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

April 4 (Reuters) - Donald Trump has been indicted by a Manhattan grand jury after a probe into hush money paid to porn star Stormy Daniels, becoming the first former U.S. president to face criminal charges. The charges from an investigation led by Manhattan District Attorney Alvin Bragg come as Trump seeks the Republican nomination to run again in 2024. REPRESENTATIVE JAMAAL BOWMAN:“Take responsibility, hold yourself accountable, and go away,” Bowman, a Democrat of New York, said when reporters asked if he had a message for Trump. SENATE MAJORITY LEADER CHUCK SCHUMER:Schumer, a Democrat of New York, tweeted: "I believe that Donald Trump will have a fair trial that follows the facts and the law. Trump was a president of many firsts — none of which were good for our country.

The specific charges are not yet known and the indictment will likely be announced in the coming days, the New York Times reported. Below is reaction to news of the indictment:FORMER REPUBLICAN REPRESENTATIVE ADAM KINZINGER: "Today is a somber day for our nation. Donald Trump committed many crimes, but this indictment should be a reminder that in America, NO ONE is above the law. DEMOCRATIC U.S. REPRESENTATIVE ADAM SCHIFF ON TWITTER: "The indictment of a former president is unprecedented. SENATOR TED CRUZ ON TWITTER: "The Democrat Party’s hatred for Donald Trump knows no bounds.

The first test in the race to replace Sen. Dianne Feinstein of California is a year away, but the top three contenders are already furiously raising money, crisscrossing the state and amassing endorsements in what could become one of the most expensive statewide contests in recent memory. Reps. Barbara Lee , Katie Porter and Adam Schiff have been hitting the campaign trail hard, shoring up support and introducing themselves to new voters since Mrs. Feinstein announced in February that she would retire at the end of her term. The trio are some of the biggest names in Democratic politics but the field appears wide open, with no candidate drawing more than a quarter of the vote in an early poll.

☆ Democrats want to make electric bikes much cheaper by giving you up to $1,500 to buy one
▼ + stars: | 2023-03-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

A new bill would give Americans up to $1,500 off the purchase of an electric bicycle. The Senate cut this legislation out of the 2022 Inflation Reduction Act, but included subsidies for electric cars and SUVs. Biking advocates argue that electric bikes should be subsidized just as electric cars have been for years. Electric bikes have boomed in popularity in the US over the last several years. E-bike tax credits introduced by cities and states around the country have become hugely popular in recent years.

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