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Following his briefing by his national security and foreign policy agency review teams "on their findings and key challenges that the Biden-Harris administration will inherit," President-elect Joe Biden said the transition into the White House has been met with "roadblocks" from Trump's administration.WATCH RECAP:Biden said his team has not received cooperation from the Office of Management and Budget and the Defense Department calling it "nothing short of irresponsibility.""We've encountered roadblocks from the political leadership of the Department of Defense & the Office of Management and Budget. Right now, we're just not getting all the information that we need from the outgoing administration in key national security areas. It's nothing short, in my view, of irresponsibility," Biden said.Biden also spoke about the recent massive cyberattack that breached numerous government agencies."We need to close the gap between where our capabilities are now and where they need to be, to better deter, detect, disrupt and respond to those sorts of intrusions in the future," Biden said.One of the key challenges Biden spoke about was rebuilding the full set of instruments of foreign policy and national security, which will start with our diplomacy."Today we heard from the leaders of the state and USAID agency review teams about the critical early investment we'll need to make in our diplomacy, in our development efforts and in rebuilding our alliances, to close the ranks with our partners and bring to bear the full benefits of our shared strength for the American people," Biden said.Christoper Miller, who is leading the Pentagon in an acting role, disputed Biden's claims on Monday. "The Department of Defense has conducted 164 interviews with over 400 officials, and provided over 5,000 pages of documents – far more than initially requested by Biden’s transition team," Miller said. "DOD’s efforts already surpass those of recent administrations with over three weeks to go and we continue to schedule additional meetings for the remainder of the transition and answer any and all requests for information in our purview. Our DOD political and career officials have been working with the utmost professionalism to support transition activities in a compressed time schedule and they will continue to do so in a transparent and collegial manner that upholds the finest traditions of the Department. The American people expect nothing less and that is what I remain committed to.” 2510

FORT LAUDERDALE, Fla. (AP) — Florida police and campaign officials say President Donald Trump’s former campaign manager Brad Parscale has been hospitalized after he threatened to harm himself. Police officers say they talked Parscale out of his Fort Lauderdale home Sunday after his wife called police to say that he had multiple firearms and was threatening to hurt himself. He was hospitalized under the state’s Baker Act, which allows anyone deemed to be a threat to themselves or others to be detained for 72 hours for psychiatric evaluation. Parscale was demoted from the campaign manager’s post in July but remained part of the campaign, helping run its digital operation. 686

Federal Reserve chairman Jerome Powell gave investors reason to cheer on Wednesday when he suggested that the Fed may slow down its interest rate hikes.The Dow surged on the news and closed up 600 points, or more than 2%, in midday trading. The S&P 500 and Nasdaq each rose about 2% as well.Powell reassured investors that the Fed wouldn't risk killing off economic growth by continuing to aggressively raise rates next year."Our gradual pace of raising interest rates has been an exercise in balancing risks," Powell said during a speech at the Economic Club of New York. "We know that moving too fast would risk shortening the expansion. We also know that moving too slowly -- keeping interest rates too low for too long -- could risk other distortions in the form of higher inflation."Powell noted that rates remain relatively low and that they are just below what many economists consider "neutral for the economy -- that is, neither speeding up nor slowing down growth."Investors seemed to interpret Powell's comments as a sign that the Fed, which is widely expected to raise rates again at a meeting next month, may now only hike rates once or maybe twice at most in 2019 as opposed to earlier forecasts of three or four hikes.The Dow's most cyclical stocks were among the biggest gainers. Shares of Boeing (BA), Caterpillar (CAT), Microsoft (MSFT) and Apple (AAPL) helping to lead the rally.In fact, only four Dow stocks -- Verizon (VZ), United Technologies (UTX), DowDupont (DWDP) and Procter & Gamble (PG) -- were trading lower Wednesday afternoon.Matthew Cheslock, a trader at Virtu Financial, told CNNMoney editor-at-large Richard Quest on "Markets Now" Wednesday that the market interpreted Powell's comments as meaning that we are "closer to normal rates. I think that was what really sparked the market to go higher."Cheslock added that some of Powell's remarks about the market not being in a bubble were reassuring as well.Powell's comments may assuage concerns about the Fed possibly going too far with rate increases, a criticism leveled by President Donald Trump.But Tobias Levkovich, Citigroup chief US equity strategist, told Quest that the market may be overreacting."I'm not dancing or partying right at the moment," he said, adding that the Fed has talked about gradual rate hikes "for a very long time." "Maybe [the markets] were just worried it would be worse," Levkovich said.To that end, Trump, who chose Powell to replace former Fed chief Janet Yellen, has often bashed him and the Fed on Twitter and in interviews for the rate hikes.In fact, Trump attacked Powell again in a Washington Post interview Tuesday, saying he was "not even a little bit happy" with Powell and that the Fed was making a mistake with so many rate hikes.Trump even added that sometimes decisions he makes with his "gut" matter more than what other people's brains tell him.Whether or not investors were using their guts or brains when deciding to jump back into stocks Wednesday remains to be seen. But it's clear that the bulls were back in charge on Wednesday."Markets Now" streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by Quest and CNNMoney's business correspondents, the 15-minute program features incisive commentary from experts.You can watch "Markets Now" at CNNMoney.com/MarketsNow from your desk or on your phone or tablet. If you can't catch the show live, check out highlights online and through the Markets Now newsletter, delivered to your inbox every afternoon.The-CNN-Wire 3545

FLINT, Mich. – The City of Flint will no longer auction off illegal guns seized by its police department. Instead, the weapons will be destroyed.Mayor Sheldon Neeley and Police Chief Phil Hart made the announcement during a press conference last week, saying they hope to keep guns off the streets.Officials say they will start by immediately disposing of 250 guns that previously had been on Flint streets.According to a press release from the city, the previous administration began auctioning off seized firearms in 2017, selling hundreds of guns to the highest bidder. That included semi-automatic rifles as well as handguns, pistols, and shotguns, the city says.Last year, the city says it auctioned off more than 1,200 guns, which brought in more than 0,000 to the city’s general fund.While gun auctions are legal and serve lawful gun buyers, the current mayor says his administration will not permit the auctioning of firearms to ensure none of weapons fall into the wrong hands again.“From Day 1, we put a priority on leading this city with a strong social conscience. Human life is always more valuable than dollars,” Mayor Neeley said. “Under this administration, we will never again line our pockets by selling guns. It is unconscionable that after seizing these illegal weapons that anyone would gamble by putting them back on the streets where they could again fall into the wrong hands.”Chief Hart says the profit from selling the firearms is not worth the risk of them being used in future violent events.“If we want to look at dollars and cents, we also have to look at the cost of gun violence in our community,” said Hart. “It does not make sense for law enforcement to be in the business of selling weapons.”The city cited a 2019 report from the Congressional Joint Economic Committee, which said gun violence costs the U.S. 9 billion annually and in Michigan, gun violence costs .9 billion — 6 for every resident.“Based on that average, the cost of gun violence in the city of Flint is at least triple the revenues the gun auctions,” the city wrote.Instead of auctioning off the guns, the weapons will be turned over to the Michigan State Police for proper disposal. 2205

Football coach Derrick Clark was a convicted drug dealer when he was hired two seasons ago for New Haven Endeavour Middle School in New Haven, Michigan. Now he’s in jail facing serious sex charges.  School Superintendent Todd Robinson talked with Jim Kiertzner, investigator for Scripps station WXYZ in Detroit and said he knew Clark had some criminal past, saying “Not to the extent that you’re sharing with me now.”  Robinson would not say what his understanding of it was. “I don’t want to make any more comment about it at this time.” Robinson also would not answer if he would still hire him if he knew what he knows today.State records show Clark was convicted of drug possession and running a drug house and was on probation from 2009 to 2014. Clark now faces charges of third degree criminal sexual conduct, pandering and racketeering in Macomb County.  Police said Clark reportedly sold his girlfriend for sex with online ads dozens of times over several months and threatened her and kids to go to Child Protective Services.At least one “John,” a man who paid for sex, is cooperating with police.John Wallace, who lives next door to the school says, “That sounds to me like another Nassar case.”Other parents said they are upset.Clark was hired through a contracting firm called EDUStaff in Grand Rapids.  The company president, Clark Galloway, sent us a statement that says criminal background checks and approval are up to school districts and Clark is not the only employee they’ve supplied: 1572