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Proud Boy merch featuring the "Stand Back - Stand By" verbiage is now available on @amazon ....naturally. pic.twitter.com/2p1seB8cTG— Konstantin Toropin (@KToropin) September 30, 2020 191

President Donald Trump’s supporters have seized on a photo circulating on Twitter since late Sunday that shows Democratic presidential nominee Joe Biden not wearing a mask while he talks to a campaign staffer on a plane. Why wasn’t Biden, who has made a point to put on a facial covering throughout the campaign, wearing a mask? Because the photo was taken in November 2019, before the first case of the new coronavirus was reported, and months before global health officials began urging people to wear masks in order to stop the spread of the virus. 559

President-elect Joe Biden named former General Lloyd J. Austin as his nominee for secretary of defense on Wednesday.If confirmed, Austin would become the first Black person to lead the Pentagon.At a press conference in Wilmington, Delaware on Wednesday, Biden introduced Austin as a man who is "breaking down barriers and blazing a trail," adding that he is "going to do it again" if confirmed.Biden called for Austin to be confirmed "swiftly," adding that the country "needs his expertise.""It will be my sincere honor and privilege to return to the department and to lead our great service members and civilians in accomplishing the mission of ensuring our nation's security," Austin said Wednesday.He also added that he would give Biden clear and "unvarnished council" when it comes to military matters.Austin also said that he had benefitted greatly from leadership above him throughout his career, citing the influence of former Sec. of State Colin Powell, among others.In addition to needing Senate confirmation, Austin will also need a waiver, as there is seven-year waiting period after leaving the military in order to become defense secretary. Some Senate Democrats, including Sen. Elizabeth Warren, have signaled that they are hesitant to grant Austin a waiver."I would not be asking for this exception if I didn't think this moment in history called for it," Biden said.President Donald Trump's first defense secretary, James Mattis, also required such a waiver upon his nomination.Austin, a former four-star general, was the 12th head of Central Command from 2013 through 2016 under President Barack Obama.Austin followed Mattis in leading Central Command. He also served as the vice chief of staff of the Army. 1732

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

Prominent tech investor Steve Jurvetson is denying the misconduct allegations against him.In a lengthy Facebook post, Jurvetson said the reason for his departure from the venture capital firm he co-founded on Monday had nothing to do with "sexual predation" or "workplace harassment.""How does one respond to accusations so serious that being innocent is not a good enough defense?" he wrote. "Let me be clear: no such allegations are true."Jurvetson, 50, was a partner at prominent VC firm Draper Fisher Jurvetson. He is also a board member and investor at Tesla and SpaceX, but as of Monday, he's currently on leave.According to Jurvetson, he left the firm "because of interpersonal dynamics with my partners" and "stress."In October, DFJ said it became aware of "indirect and second-hand allegations" about Jurvetson. The company launched an independent investigation, but it did not provide details on the allegations of misconduct."It is excruciating to learn just how quickly, in one news cycle, people conclude that because I have left DFJ there must be some credence to vicious and wholly false allegations about sexual predation and workplace harassment," wrote Jurvetson.He clarified that the DFJ investigation "began not with a complaint, but with unsubstantiated rumors."Jurvetson's departure comes on the heels of other investor resignations over misconduct allegations. 500 Startups cofounder Dave McClure and Binary Capital cofounder Justin Caldbeck left their respective firms this summer after multiple women came forward with allegations of workplace sexual harassment. Both men have issued apologies for their behavior.While the women made their claims public about McClure and Caldbeck, there are no public claims against Jurvetson."The three-month investigation, that has yet to conclude (and I welcome the results whenever that takes place), broke down a normal team dynamic into factions that isolate communications and defer to the advice of lawyers," Jurvetson added."Add a modicum of stress (such as implied allegations in the press) and deadlines (our annual LP meeting is today), and people show a different side of their personality. I did. So did my partners. It's incredibly sad to see how things broke down, and the acrimony that arose between us."Jurvetson also alluded to a "personal relationship (one that doesn't involve employees, or prospective employees, or others in the workplace)" as a contributing factor to his stress."I have also learned that an ill-advised relationship, where the other person is left feeling hurt, angry or scorned, can have far reaching consequences in the digital age," he wrote. "It is inaccurate and unfair to describe any of this as harassment or predation."  2741

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