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2025-05-31 03:08:55
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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

  宜宾双眼皮哪家医院好好   

Ray Szmanda, known to generations of Americans as the man who brought Menards commercials to life, has died at age 91.Szmanda passed away at his home in Antigo on Sunday, May 6, according to an obituary posted to Bradley Funeral Home & Crematory's website.Szmanda worked in T.V. and radio in the 1950s and operated a broadcast school in Waukesha, Wisconsin until the late 1970s, when he joined Menards as a pitchman. After a successful run, Szmanda retired as the spokesman in 1998.Menards released a statement about the loss of their beloved spokesman:"Ray Szmanda remained a steady fixture in our advertising for nearly a quarter century  until his retirement in 1998.  Still to this day, Ray’s friendly, enthusiastic and fun loving personality have made a lasting impression on our customers and all of us at Menards. We are saddened by his passing and our thoughts and prayers are with Ray’s family, friends and the millions of people who knew him as ‘The Menards Guy.'"His countless commercial appearances over the decades, as well as his distinctive voice, endeared Szmanda to many across the years."I'm having a ball; I love what I do, and I think as long as I feel that way, that message gets across on television," Szmanda once said, according to his official biography on the Menards website.Szmanda graduated from Milwaukee's Bay View High School in 1944. In 1970 he founded the Transamerica School of Broadcasting in Wausau, helping local talent to achieve their dreams, and preparing them for the airwaves. Szmanda also performed as a drummer and vocalist in Wisconsin clubs.Additionally, Szmanda served his country in the Navy in WWII. 1707

  宜宾双眼皮哪家医院好好   

Republicans are hoping to keep control of the Senate and expand their majority in the upper chamber of Congress, while Democrats are looking to stave off losses and flip as many seats as possible as voters head to the polls in Tuesday's 2018 midterm elections.Despite a seemingly energized grassroots electorate, the Democratic Party has been viewed as a long shot to take back control of the Senate where Republicans currently hold a narrow majority of 51 seats to 49 seats for Democrats.Democrats face a daunting Senate map in the 2018 midterms and have been forced to defend 10 seats in states that President Donald Trump won in the 2016 presidential election, including North Dakota, Montana, West Virginia, Indiana and Missouri.PHOTOS: Voter turnout around the nationRepublicans do not have to defend as many vulnerable incumbents as Democrats in the midterms. Only a handful of seats are viewed as potential pickup opportunities for Democrats, with the party hoping to flip seats in closely-watched races in states such as Arizona and Nevada, as well as longer shot attempts in Tennessee and Texas.If Republicans maintain control, it will put the GOP in position to continue driving forward the President's agenda in at least one chamber of Congress. If Democrats manage to win the Senate, it would be a major setback for Republicans and a significant victory for a party that has been locked out of power in Washington since Trump won the White House.Control of the Senate will determine whether key elements of the President's agenda will be thwarted or advanced, including judicial confirmations and executive branch appointments. It will also determine whether Senate Democrats can launch investigations into controversies that have surrounded Trump while he has been in office and before he was elected, including allegations surrounding obstruction of justice, Trump's finances and potential Russian collusion. 1930

  

President-elect Joe Biden had a stark warning if there is not collaboration on national efforts to combat the coronavirus."More people may die if we don’t coordinate," President-elect Biden said Monday during remarks from Wilmington, Delaware. He urged a coordination effort not only between administrations, but also with Congress, business owners, educators, and governors. "We are at war with the coronavirus," Biden said. President Donald Trump has not conceded the presidential election, and his administration has not formally signed an ascertainment that would allow the incoming Biden administration access to intelligence briefings and department leaders, including the coronavirus team, and funding for transition efforts. Biden and Vice President-elect Kamala Harris spoke about the economy, and their strategy to "hit the ground running" in January when they are sworn in. Biden shared his frustration that President Trump and Congress has not passed more relief as Americans struggle, referencing long-term unemployment numbers and rising evictions. Harris said they had spent Monday talking to business owners representing leaders from corporations, small businesses, and those in between."The road ahead, it will not be easy. But the president elect and I are hitting the ground running," Harris said.She also addressed the disparities in how the coronavirus pandemic is effecting communities of color."Last month, the unemployment rate of Black Americans was almost twice those of others," Harris said, adding that Native Americans were four times more likely to be hospitalized with the coronavirus.Biden repeated proposed policies that would increase the corporate tax and increase taxes for the wealthiest Americans while keeping the tax rate for the middle-class consistent. He's also called for more COVID-19 stimulus and more widespread use of the Defense Production Act in order to create jobs while producing more personal protective equipment."There’s so much we can do, and we can’t do any of this without working together," Biden said. He also urged Congress to pass coronavirus relief funds. Biden's address comes as millions of Americans remained unemployed due to the COVID-19 pandemic. Earlier this month, the Labor Department reported better than expected unemployment numbers from October through the unemployment rate remains at just under 7%.Prior to the pandemic, the last time unemployment was as high as 7% was about six years ago, as the country continued to recover from the Great Recession.Biden's comments also come as the stock market has jumped on encouraging news of a potential COVID-19 vaccine. Following Moderna's Monday announcement that its vaccine candidate has been 95% effective in Phase 3 trials, the Dow jumped more than 400 points for an increase of about 1.5%.Despite historic losses in February and March, the Dow remains in the black from the beginning of 2020.Biden also shared that he and his wife Dr. Jill Biden spent the morning deciding who they would spend Thanksgiving with. Saying they were encouraged by health experts to limit their gathering to a maximum of ten people, while still wearing masks and social distancing. 3196

  

President Donald Trump's immigration agenda was dealt another blow by federal courts Friday, when a federal judge largely blocked the Justice Department's efforts to punish sanctuary cities for a second time this year.US District Court Judge Harry D. Leinenweber agreed with the city of Chicago that the administration's new requirements for receiving a key law enforcement grant that hinged on immigration enforcement could cause "irreparable harm," adding that the city had shown a "likelihood of success" in its case that Attorney General Jeff Sessions exceeded his authority in requiring local jurisdictions to comply with the new standards.Leinenweber blocked the Justice Department from enforcing the new measures, which it introduced earlier this summer, meaning cities applying for the funds this year will not have to comply."The harm to the city's relationship with the immigrant community, if it should accede to the conditions, is irreparable," Leinenweber wrote. "Once such trust is lost, it cannot be repaired through an award of money damages."Friday's decision marked the second time this year a federal judge has blocked the Trump administration's efforts to force sanctuary cities to cooperate on immigration enforcement. A judge in San Francisco restricted a January executive order from Trump that threatened to block all federal funds to sanctuary cities -- a catchall term generally used to describe jurisdictions that have some policy of noncooperation with federal immigration enforcement.The administration has made such jurisdictions a key focus of its immigration agenda -- arguing that such policies are a public safety threat."By protecting criminals from immigration enforcement, cities and states with 'so-called' sanctuary policies make their communities less safe and undermine the rule of law," Justice Department spokesperson Devin O'Malley said. "The Department of Justice will continue to fully enforce existing law and to defend lawful and reasonable grant conditions that seek to protect communities and law enforcement."In a tweet, Chicago Mayor Rahm Emanuel heralded the judge's ruling as a victory."This is not just a victory for Chicago. This is a win for cities across the US that supported our lawsuit vs Trump DOJ defending our values," Emanuel tweeted.At issue in the case was a new salvo the administration opened against sanctuary cities in July, when Sessions announced that going forward, funds under the Edward Byrne Memorial Justice Assistance Grant Program, or Byrne JAG, would be conditioned upon two new requirements: allowing federal immigration authorities access to local detention facilities and providing the Department of Homeland Security at least 48 hours' advance notice before local officials release an undocumented immigrant wanted by federal authorities.Those are some of the most controversial requests by the federal government regarding local law enforcement. A number of cities and police chiefs around the country argue that cooperating with such requests could jeopardize the trust police need to have with local communities, and in some cases could place departments in legal gray areas. The Trump administration, on the other hand, has accused sanctuary cities of putting politics over public safety.Leinenweber temporarily blocked both requirements on a nationwide basis Friday, explaining that the federal government does not have the authority to place new immigration-related conditions on the grants, as Congress did not grant that authority in setting up the program.Emanuel sued Sessions over the new requirements in August, saying they would "federalize local jails and police stations, mandate warrantless detentions in order to investigate for federal civil infractions, sow fear in local immigrant communities, and ultimately make the people of Chicago less safe."The conditions in July came after a federal judge in April restricted a January executive order that sought to block federal funds going to sanctuary cities to the JAG grants exclusively and existing requirements on them. After the administration failed in its attempt to get that injunction lifted, Sessions announced the new measures.The Justice Department did get one win, however. Leinenweber did side with the Trump administration on preserving an existing requirement for the grants -- certifying compliance with a federal law that mandates local jurisdictions communicate immigration status information to the federal government -- which was put in place originally by the Obama administration.Virtually all jurisdictions in the US say they are already in compliance with that measure.The-CNN-Wire 4664

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