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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

Republicans are reportedly seeking to extend increased unemployment benefits in the next round of COVID-19 stimulus, but at a much lower rate, according to The New York Times and The Washington Post.Both The Times and The Post report that Republican lawmakers are prepared to introduce a stimulus package that would continue increased unemployment insurance, but would reduce weekly aid from 0 a week to 0 a week.The 0 federal payments, put in place by the .2 trillion CARES Act that was passed in March, expired over the weekend.According to both The Times and The Post, the Republican plan would offer the 0 insurance for two months, during which time states would need to develop their own plans that would pay unemployed workers 70% of what they were making prior to the pandemic.Many Republicans argue that the 0 a week payments created an incentive for those unemployed to not work, arguing that many were receiving more in unemployment insurance than they would if working.Democrats favor extending the 0 payments through the end of the year with the HEROES Act — a stimulus package that passed through the House in May. The Senate has not yet taken action on the bill.On Friday, Democrats argued that Republicans needed to work with them quickly in order to get payments to those that need them. Rep. Danny Davis, D-Illinois, argued that the benefits were needed because COVID-19 made it too dangerous for some to work, made others unable to work due to lost jobs, and made childcare more difficult due to the closure of schools.Pelosi slammed the Republicans' delay in her press conference Friday, calling it a "dereliction" of their duty. She asked that Republicans "get something on paper" so that Democrats and the American people could see their plan.Republicans have promised to propose new stimulus legislation in the coming days. 1873

President Donald Trump will hold two rallies in the western swing state of Arizona on Monday while Sen. Kamala Harris will stump for her running mate, Democratic presidential candidate Joe Biden in the all-important battleground state of Florida.Polls indicate that Trump has significant ground to make up in the final two weeks in order to win re-election — a steep but not impossible task, considering he did just that in winning the 2016 election.Trump spent Sunday evening in the Las Vegas area after a rally in Nevada — a crucial swing state where recent polls show him trailing Biden by as many as 11 points or as few as 2 points. Trump will then fly to Arizona on Monday, where he will hold rallies in Prescott, a city in the northern part of the state, and in Tucson, in the southern part of the state.Meanwhile, Sen. Kamala Harris will hold voter mobilization events in two of Florida's largest cities — Orlando and Jacksonville. A state infamous for tight races, recent polls show Biden with a slight lead of just a few points.At a drive-in rally in Orlando, supporters honked their car horns as Harris approached the stage. She urged those in attendance to hit the polls as soon as possible, as early in-person voting opened in the state on Monday.Harris bashed Trump on his administration's response to the COVID-19, citing reports that he privately told journalist Bob Woodward in February that he knew the virus was deadly despite his public efforts to "downplay" the crisis. She also told rally-goers that key issues like healthcare and police reform would be on the ballot next month. Trump carried both Arizona and Florida during the 2016 election.Biden himself does not have any public events scheduled for Monday as of 11 a.m. ET.The candidates' rallies come just days before the final presidential debate of the 2020 election cycle. That debate will take place on Thursday at 9 p.m. ET in Nashville. 1927

Reba McEntire's former home in Lebanon, Tennessee has been transformed into an event space, allowing people to host events where one of country music's biggest stars lived for more than a decade.The home, now called The Estate at Cherokee Docks, has seven bedrooms and seven bathrooms. Each bedroom is themed after a Country Music, including Garth Brooks, Johnny Cash, Loretta Lynn, Dolly Parton, Willie Nelson, Patsy Cline, and of course, Reba herself. “We really wanted to be intentional about paying homage to Reba. There are lots of details throughout the house, lots of horses — she loved her horses obviously. Then, we paid tribute to Country Music icons in each of the bedrooms upstairs to really speak to that," Andrea Williams with The Estate at Cherokee Docks, said."This is Country Music history here, and so we wanted to keep that tradition alive.” Throughout the rest of the home, there are touches that Reba herself put in place, such as a movie theater and wine cellar in the basement.Where the property really shines is the event space that is available. Renters have many options inside the home and the rest of property, including the pool, the nearby Cumberland River, the tennis court, and an area under the trees planted throughout the property. “Reba is such a huge icon. To be in her space, to see all of the wonderful things, to see all the personal touches that she added to the property, and now to have it open to the public so that they can experience that too," Williams said. "They can walk in her three-floor closet and work out in her gym with the same equipment that was here when she was here. It’s phenomenal and there’s nothing else like it anywhere else in the city."The space is ideal for company retreats, special events, and weddings, giving people the opportunity to rent the property for the day, overnight, or for an extended period of time. To kick off their first year, The Estate at Cherokee Dock is providing 30 percent off new bookings. You can find more information on their website.  2141

Rates of syphilis, gonorrhea and chlamydia have climbed for the fourth consecutive year in the United States, the Centers for Disease Control and Prevention announced Tuesday at the National STD Prevention Conference in Washington.Last year, nearly 2.3 million US cases of these sexually transmitted diseases were diagnosed, according to preliminary data.That's the highest number ever reported nationwide, breaking the record set in 2016 by more than 200,000 cases, according to the CDC."Sadly, it's not a surprising trend," said Rob Stephenson, a professor and director of the Center for Sexuality and Health Disparities at the University of Michigan in Ann Arbor, who was not involved in the new CDC research. 720

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