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RANCHO BERNARDO, Calif. (KGTV) -- A Rancho Bernardo woman wants to warn her elderly neighbors to double check their water bills."Evey Borrelli is not part of the roughly 350 water customers who were overcharged when a now-former city employee misread hundreds of meters this past winter," but she did receive an incorrect bill in April of 2017.RELATED:  381

President Trump nominated Federal Reserve Governor Jerome Powell on Thursday to lead the world's most influential central bank.A Fed governor since 2012 and former Treasury official under the George H.W. Bush administration, Powell will replace current Fed Chair Janet Yellen. Yellen was nominated in 2013 by President Obama. Her term as the central bank's first female leader expires in February.It will be the first time in four decades that a new president hasn't asked the current Fed chair to stay on for a second term.Powell was among five candidates considered for the job. Also on the president's short list: former Fed governor Kevin Warsh, Stanford University economist John Taylor, the president's top economic adviser, Gary Cohn and Yellen.Ahead of Trump's formal announcement Thursday, Cohn praised the president's choice. "I'm really supportive of the president's decision -- and it's a great decision," he said speaking before The Economic Club of Washington.Related: Fed leaves interest rates alone and waits for TrumpThe position of Fed chair requires Senate confirmation. Republicans currently hold the majority and would be able to confirm Powell without any Democratic support, if necessary.At 64, Powell has been Yellen's ally on monetary policy, while also calling for easing some of the regulations on banks put in place after the 2008 financial crisis.Unlike almost all of his predecessors in the position, Powell is not an economist by training. Instead, he was a lawyer and former partner at private-equity firm, Carlyle Group.Two immediate challenges face Powell once he is confirmed in the role: How quickly to raise interest rates and how to continue to safely unwind the Fed's hefty balance sheet.It's the job of central bankers to shift policy levers, nudging interest rates higher or lower, to boost jobs and keep prices, or inflation, at the optimal level.What's made their job trickier is that inflation is signaling the Fed should not increase rates. But economic growth and a low unemployment rate of 4.2% are saying it should.Related: Powell would be the first investment banker to chair the Fed Powell has been supportive of Yellen's plan to gradually raise interest rates, if there are continued signs of improvement in the economy."The economy is as close to our assigned goals as it has been for many years," said Powell in a June speech at the Economic Club of New York. "Risks to the forecast now seem more balanced than they have been for a some time."Powell will also have to oversee how the central bank continues to shed some of the .5 trillion in investments it made in order to prop up the economy after the financial crisis. The Fed began the process of unwinding almost a decade's worth of stimulus investments in September.For years, the central bank piled up purchases of Treasury and mortgage-backed securities, a strategy intended to stimulate the economy by reducing borrowing costs for everyone. At the time, it also reduced its benchmark interest rate to zero, and only began raising it in December 2015, seven years after the crisis.Related: Fed taps Jerome Powell to head oversight of 'too big to fail' banksPowell voted in favor of winding down the Fed's balance sheet. And like Yellen, he's left the door open for a new round of asset purchases in the event of another crisis.In April, the Fed tapped Powell to serve as the new point man overseeing how Wall Street banks are regulated after Daniel Tarullo, the central bank's regulatory czar stepped down. Tarullo held the position for the past eight years.In this role, the Fed governor has sided with the Trump administration on easing some of the regulatory burdens on banks. He's specifically suggested relaxing the so-called Volcker Rule, which bars banks from taking risky bets with taxpayer money.The-CNN-Wire 3838

Presumptive Democratic nominee Joe Biden said during an MSNBC interview on Monday that four Black women are among his finalists to become his running mate.In an interview with Joy Reid on Monday, he said he isn’t tied to picking a woman of color, but he is committed to having a diverse administration.“Black women have supported me my whole career,” Biden told Reid. “I have been loyal and they have been loyal to me — and so it’s important that my administration, I promise you, will look like America.”While he did not mention names, Sen. Kamala Harris has been eyed by many in the Democratic Party as a leading vice presidential candidate. Harris told CBS’ Stephen Colbert that she’d “be honored” to be Biden’s running mate."Honestly, let me just tell you something: I will do everything in my power, wherever I am, to help Joe Biden win,” Harris told Colbert.Of note, there has never been a Black vice presidential candidate from a major party.While Sen. Amy Klobuchar said that recent unrest should be a call for a Black running mate, polling suggests that Sen. Elizabeth Warren would be the most popular option for Biden. In a Yahoo poll released last month, Warren was considered the most popular choice of vice presidential hopefuls. 1250

Republican U.S. Sen. David Perdue and Democrat Jon Ossoff will face off in a Jan. 5 runoff in Georgia for Perdue’s Senate seat. Libertarian candidate Shane Hazel was able to get enough votes to prevent either candidate from clearing the 50% threshold needed for an outright win. The contest has already seen huge spending from outside groups on both sides and millions of dollars more are expected to pour into the state ahead of the runoff. Perdue is a close ally of President Donald Trump. The race has been characterized by sharp attack ads but relatively moderate political positions.Coupled with another runoff in Georgia in a special election, the two Senate races could decide which parties have control of the US Senate. 737

President Trump spoke to reporters Wednesday following Tuesday's Midterm Elections.Trump's began with prepared remarks speaking about Republicans wins in the Senate, calling his party's performance "historic."President Trump also made a point to call out Republicans who did not embrace his agenda and lost races, including Rep. Mia Love (R-Utah) who is currently losing to Democrat Ben McAdams."Mia Love gave me no love. And she lost. Sorry, Mia," Trump said.President Trump also indicated he may make a change in his cabinet regarding Secretary of the Interior, Ryan Zinke. Zinke has been plagued by a number of scandals since he took office."We'll take a look," Trump said.Trump was later asked if his Chief of Staff, Gen. John Kelly, would be leaving the administration."People leave," Trump said, while later indicating he hadn't heard of reports that Kelly would be leaving. Trump later claimed people were "lining up" to work in the White House.Trump's presser follows a mixed midterm election, which saw his Republican party pick up additional seats in the Senate, but lose control of the House of Representatives.Though Trump often speaks to pool reporters on the White House lawn and on the oval office, Wednesday's presser was just his third press conference since he took office in January 2017. His last presser took place in September as the Senate Judiciary Committee prepared to interview his Supreme Court nominee, Brett Kavanaugh, in the wake of sexual abuse allegations.Trump's first press conference came just weeks after his inauguration in February of 2017.Watch the press conference in the player above.    1672

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