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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

President Donald Trump says he has issued a pardon to his longtime ally Roger Stone, according to a statement from the White House.Stone, who was convicted of several crimes in connection to the investigation launched by Special Counsel Robert Mueller, was set to begin a 40-month prison sentence on Tuesday."Roger Stone is a victim of the Russia Hoax that the Left and its allies in the media perpetuated for years in an attempt to undermine the Trump Presidency," the White House statement read. "There was never any collusion between the Trump Campaign, or the Trump Administration, with Russia."Stone was briefly and advisor to the Trump campaign during the 2016 election. Though he left the campaign in controversy, he still supported Trump and the campaign on his behalf. He's alleged to have made contact with WikiLeaks, the organization that published a trove of hacked emails linked to the Clinton campaign.Stone was convicted of seven counts of lying to Congress, obstruction of justice and witness tampering in connection with his testimony during a House Intelligence Committee and his attempts to have a friend lie to investigators on his behalf.Upon his conviction, federal attorneys recommended Stone serve a prison sentence of between seven and nine years. However, the Department of Justice quickly rescinded that resignation, calling it excessive. In response, all the federal attorneys on the case resigned, and Attorney General Bill Barr was criticized for his department's rescinding of the recommendation."Mr. Stone would be put at serious medical risk in prison. He has appealed his conviction and is seeking a new trial," the White House statement read. "He maintains his innocence and has stated that he expects to be fully exonerated by the justice system. Mr. Stone, like every American, deserves a fair trial and every opportunity to vindicate himself before the courts. The President does not wish to interfere with his efforts to do so. At this time, however, and particularly in light of the egregious facts and circumstances surrounding his unfair prosecution, arrest, and trial, the President has determined to commute his sentence. Roger Stone has already suffered greatly."While Mueller's report could not determine a direct link between the Trump campaign and Russia, it could not rule out that Trump obstructed justice throughout the investigation.Rep. Adam Schiff, D-Calif., the chair of the House Intelliegence Committee, said that the commutation meant that "there are now two systems of justice in America: One for Trump's criminal friends and one for everyone else." 2616

PROVIDENCE, R.I. (AP) — As the world races to find a vaccine and a cure for COVID-19, there is seemingly no antidote in sight to the burgeoning outbreak of coronavirus conspiracy theories, hoaxes, anti-mask myths and sham treatments. The phenomenon, unfolding largely on social media, escalated this week when President Donald Trump retweeted a false video about an anti-malarial drug being a cure for the virus and it was revealed that Russian intelligence is spreading disinformation about the crisis through English-language websites. “It is a real challenge in terms of trying to get the message to the public about what they can really do to protect themselves and what the facts are behind the problem., said Michael Osterholm, head of the University of Minnesota’s Center for Infectious Disease Research and Policy.“You don’t need masks. There is a cure,” Dr. Stella Immanuel promised in a video that promoted hydroxychloroquine. “You don’t need people to be locked down.”The truth: Federal regulators last month revoked their authorization of the drug as an emergency treatment amid growing evidence it doesn’t work and can have deadly side effects. Even if it were effective, it wouldn’t negate the need for masks and other measures to contain the outbreak.None of that stopped Trump, who has repeatedly praised the drug, from retweeting the video. Twitter and Facebook began removing the video on Monday for violating policies on COVID-19 misinformation, but it had already been seen more than 20 million times.Experts say the flood of bad information is dangerously undermining efforts to slow the virus, which has been blamed for about 150,000 deaths in the U.S. 1682

Racial disparities and bias in health care can be a double whammy for multi-generational families of color — specifically when Black men are the caregivers."We tend to think of the male caregiver as that individual that comes helicoptering in and pays the bills or take care of yard work. But that's not all that male family caregivers do," said Rita Choula, the director of caregiving at the AARP Public Policy Institute.AARP has found that there are nearly 3 million African-American men taking care of an adult family member or non-relative — usually someone with memory, emotional or mental health conditions.Conversations with those caregivers reveal the unique challenges and stereotypes they face, including health care bias."If he is going into a situation with an understanding that there may be a bias — when we talk about higher levels of stress, that would be one thing that could cause more stress for an African American male caregiver," Choula said.Black men are also less likely to ask for help, which can add to the stress. They're often still working essential jobs and facing financial impacts due to tough choices about balancing careers with their caregiving responsibilities.That stress has been amplified by the COVID-19 pandemic, as caregivers now face the risk of bringing the virus home to loved ones.But these Black men are dedicated. A majority of all African-American caregivers find a sense of purpose or meaning in that role — more so than other caregivers."Increasingly, male family caregivers are bathing their mothers. That's a difficult thing," Choula said. "So, as a provider, are you talking to that male caregiver about what that may mean to them emotionally?"Any caregivers seeking support — either in-person or online — can call the AARP Caregiver Hotline at 877-333-5885 or click here for more information. 1855

RAMONA (CNS) - A motorcyclist was killed in a crash today on the Barona Indian Reservation.A motorcycle was hit and ended up underneath a Ford sedan around 1:30 p.m. on Wildcat Canyon Road more than a mile south of Little Klondike Road, according to a California Highway Patrol incident log. The area is about halfway between Barona Resort and Casino and the community of Ramona.Passersby stopped and were able to pull the motorcyclist out from underneath the car, but the biker succumbed to injuries suffered in the crash, the CHP said.The northbound lane of the road was shut down.Identifying information on the victim was not immediately available. 659

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