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Nov 22 2021
News
Biden taps Jerome Powell for second term as Fed chair, spurning progressives
President Biden announced Monday that he will nominate Jerome Powell to a second term as chairman of the Federal Reserve, signaling that he believes the battle-tested central bank chief, who navigated the U.S. economy through the depths of the worst recession in nearly a century, is the best person for one of the most high-stakes jobs in the world.
The announcement ends months of
Fox BusinessSep 21 2022
News
Fed raises rates by another three-quarters of a percentage point, pledges more hikes to fight inflation
The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level.
In its quest to bring down inflation running near its highest levels since the early 1980s, the central bank took its federal funds rate up to a range of 3%-3.25%, the highest it has been since early 2008,
CNBCOct 12 2022
News
Health care inflation is coming for Biden
Rising health care costs are poised to become the next big battle in President Joe Biden’s war against inflation. It’s unlikely he’ll be able to declare victory in time for a 2024 reelection bid.
Economists, business leaders and health care industry experts are warning that the wage, revenue and supply chain pressures that hammered the margins of hospitals and clinics during the
PoliticoAug 26 2022
News
Fed's Powell: 'Pain' of tight policy, slow growth needed 'for some time' to beat inflation
The U.S. economy will need tight monetary policy "for some time" before inflation is under control, a fact that means slower growth, a weaker job market and "some pain" for households and businesses, Federal Reserve Chair Jerome Powell said on Friday in remarks warning there is no quick cure for fast rising prices.
"Reducing inflation is likely to require a sustained period of below-
ReutersMay 09 2022
Analysis
The student-loan industry was created to give everyone an equal shot at the American Dream. The opposite happened.
Former President Lyndon B. Johnson had a vision for America: equal access to higher education.
Known primarily for his "war on poverty," Johnson was aware of the inequities in education, and how at the time, only the wealthy were getting degrees. So he decided to build on his predecessor, Dwight Eisenhower's, work by further expanding access to student loans beyond scientists and
Business InsiderFeb 13 2022
News
Biden Orders Frozen Afghan Funds Split Between Aid to Afghanistan and 9/11 Victims
President Joe Biden signed an executive order Friday that will steer frozen assets from Afghanistan’s central bank toward both addressing the ongoing humanitarian crisis in the country and compensating Sept. 11 victims.
The funds were frozen and held in the United States in the wake of the U.S. troop withdrawal and subsequent collapse of the government in Kabul in August.
The
The Epoch TimesFeb 13 2022
News
Spurning Demand by the Taliban, Biden Moves to Split $7 Billion in Frozen Afghan Funds
President Biden is starting to clear a legal path for relatives of victims of the Sept. 11, 2001, attacks to pursue $3.5 billion that Afghanistan’s central bank had deposited in New York before the Taliban takeover, while also seeking to steer a roughly equal amount toward spending to aid the Afghan people.
Beginning that process, Mr. Biden issued an executive order Friday morning
New York Times (News)Apr 01 2015
News
Lufthansa Finds Germanwings Co-Pilot’s 2009 Email on Depression
Deutsche Lufthansa AG turned over documents showing that Germanwings Flight 9525 co-pilot Andreas Lubitz informed the company’s own flight-training school that he had an “episode of severe depression,” the airline said Tuesday, raising questions about how effectively airlines vet the mental stability of their pilots.
Even before that disclosure, France’s air-accident investigator, the
Wall Street Journal (News)Jun 22 2022
News
Hundreds of cars parked outside Yellowstone as park reopens after historic flood
Hundreds of cars and recreational vehicles were backed up in long lines at entrances to Yellowstone National Park as it partially reopened Wednesday morning following record floods that reshaped the park's rivers and canyons, wiped out numerous roads and left some areas famous for their wildlife viewing inaccessible, possibly for months to come.
Park managers raised the gates at three
CBS News (Online)May 04 2022
Analysis
The Fed Just Raised the Odds of a Recession
The Federal Reserve pushed up the odds that the country will fall into a recession on Wednesday when it tightened up the flow of money in the most aggressive move in 22 years.
Led by Jerome Powell, the central bank has essentially put the economy in reverse and jammed on the accelerator in a bid to speed away from inflation, stoked by $5 trillion in stimulus, more than two years of
New York Magazine