American Dream Under Threat From Harsh Realities Of Inflation – OpEd

Biden Asserts Executive Privilege Over Audio of Interview With Robert Hur

Biden Asserts Executive Privilege , Over Audio of Interview With Robert Hur. In February, Hur's yearlong investigation into whether President Biden mishandled classified documents ended without enough evidence to support criminal charges. In February, Hur's yearlong investigation into whether President Biden mishandled classified documents ended without enough evidence to support criminal charges. House Republicans were provided a transcript of Biden's interview with Hur, but they wanted the audio, which the DOJ denied. As a result, House Republicans were moving to hold Attorney General Merrick Garland in contempt of Congress. On May 16, the Department of Justice told House Republicans that the president asserted executive privilege over audio from his interview with the special counsel. The move protects Garland from criminal exposure as GOP lawmakers seek to hold him accountable. Assistant Attorney General Carlos Uriarte explained the DOJ's actions in a letter. The Attorney General must draw a line that safeguards the Department from improper political influence and protects our principles, our law enforcement work, and the people who carry out that work independently, without fear or favor, Assistant Attorney General Carlos Uriarte, via letter . The Committees seek to hold the Attorney General in contempt not for failing in his duties, but for upholding them, Assistant Attorney General Carlos Uriarte, via letter . With the information you now have, the Committees ought not to proceed with contempt and should instead avoid unnecessary and unwarranted conflict, Assistant Attorney General Carlos Uriarte, via letter . White House Counsel Ed Siskel also wrote a letter supporting the assertion of executive privilege. . The absence of a legitimate need for the audio recordings lays bare your likely goal—to chop them up, distort them, and use them for partisan political purposes, White House Counsel Ed Siskel, via letter

Consumer Outlook Plunges Amid Fears of More Price Hikes Ahead

Consumer Outlook , Plunges Amid Fears of , More Price Hikes Ahead. CNN reports that sentiment about the economy among consumers in the United States has plummeted to the lowest level in the past six months. According to the latest consumer survey by the University of Michigan, consumers are also bracing for more price increases in the year ahead. . The consumer expectations gauge, which is closely monitored by the White House, dropped 13%, representing the most significant single month decline since mid-2021. The latest news is still better than last May when inflation was at 4% compared to the current 3.5% reading. However, CNN points out that despite inflation being lower than the same time last year, the numbers have been moving in the wrong direction. The trajectory has shifted economist expectations for the Federal Reserve to cut rates. . The latest Fed report saw expectations for year-ahead inflation increase to 3.5% from the 3.2% forecast in April. . At the same time, long-run expectations for inflation also increased to 3.1% from April's 3.0%. . According to Chicago Federal Reserve President Austan Goolsbee, the latest data , "bodes awful for progress on inflation.". There isn’t, at this time, much evidence in my view that inflation is stalling out at 3%, Austan Goolsbee, Chicago Federal Reserve President, via CNN

US News: Driver rams car into White House Gate, dies | Probe launched | Oneindia News

A driver died after crashing a car into the exterior gate of the White House late Saturday, the US Secret Service said. "Shortly before 10:30 pm a vehicle travelling at a high speed collided with an outer perimeter gate on the White House complex" the service said in a statement on social media platform X. The Secret Service, along with the police and fire departments of the District of Columbia, have launched an investigation into the fatal crash, according to Secret Service spokesman Anthony Guglielmi. He added there was "no threat or public safety implications". In January, authorities detained another person who crashed a vehicle into the exterior gate of the same complex. #WhiteHouseGate #SecurityBreach #USNews #DriverIncident #InvestigationLaunched #SecretService #BreakingNews #USIncident #SecurityAlert #DriverFatality ~HT.178~PR.152~ED.103~GR.124~

Biden’s Comment on India-Japan Triggers Controversy, White House Clarifies Remark | Oneindia News

The White House defended President Biden's comments on 'xenophobia' regarding India, China, and Japan, stressing the positive role of immigrants in the US. Biden's remarks, made at a Democratic Party fundraiser, linked economic challenges in these countries to xenophobia, but faced criticism. Nonetheless, the White House reaffirmed Biden's commitment to strengthening ties with allies like India and Japan. #WhiteHouse #PresidentBiden #JapanIndia #USIndia #USJapan #Xenophobia #BidenGaffe #USnews #Worldnews #Oneindia #Oneindianews ~HT.99~PR.152~ED.155~

U.S. Presidential Election: Trump's Integrity Concerns: What Happens If He Loses in 2024? | Oneindia

Join us as we delve into Donald Trump's candid conversation with the Milwaukee Journal Sentinel regarding his plans if he loses the 2024 White House race to Biden. Trump's remarks on election integrity and potential outcomes shed light on his post-election strategy. Stay tuned for insights and analysis on this critical issue. #USNews #USPresidentialElection #UnitedStates #AmericanElection #DonaldTrump #JoeBiden #BidenvsTrump #TrumpSpeech #Oneindia ~HT.178~PR.274~ED.103~GR.124~

Credit Card Delinquencies Are on the Rise

Credit Card Delinquencies , Are on the Rise. New York Federal Reserve data that was published on May 15 shows that credit card delinquencies kept rising from January to March, Fox Business reports. . In Q1 2024, delinquencies reached 8.9% at an annualized rate. America hasn't seen this high of a percentage of serious credit card delinquencies since 2012, Fox News reports. . In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups, Joelle Scally, regional economic principal within the Household and Public Policy Research Division at the New York Fed, via Fox Business. An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households, Joelle Scally, regional economic principal within the Household and Public Policy Research Division at the New York Fed, via Fox Business. Researchers aren't sure why delinquencies are so high since the unemployment rate is low, but they have a few theories. One of those theories is that consumers drained savings throughout the pandemic but continue to spend at high levels. Another theory is that some Americans switched to jobs with lower salaries. Additionally, credit card eligibility may have been expanded for many whose student debt wasn't being reported to credit bureaus amid the pandemic. These are all kinds of complex issues. We don't exactly know what's behind the increase of these delinquency rates. But it's definitely something that we're tracking, New York Fed researchers, via Fox Business. The average annual percentage rate for credit cards hit a record of 20.72% recently.

Experts Question Claim That Yogurt Can Help Prevent Type 2 Diabetes

Experts Question Claim , That Yogurt Can Help , Prevent Type 2 Diabetes. Associated Press reports that the United States Food and Drug Association's recently allowed yogurt producers to claim it reduces the risk of Type 2 diabetes. . However, at the time, the agency acknowledged that the claim is based on limited evidence. In 2018, Danone North America, the U.S. side of the French firm, sought FDA clearance for making the "qualified health claim.". Qualified health claims lack full scientific support but are allowed as long as manufacturers include a disclaimer to avoid misleading the public. Similar qualified health claims have been allowed for dietary supplements since 2000 and for food products since 2002. . In March of 2024, the FDA granted Danone's request. . According to the FDA, there is some evidence that eating at least 2 cups of yogurt a week could reduce the risk of developing Type 2 diabetes, which impacts about 36 million Americans. Critics of the FDA's decision have countered that the claim is not based on randomized control trials which could prove or disprove yogurt's purported health benefits. Critics of the FDA's decision have countered that the claim is not based on randomized control trials which could prove or disprove yogurt's purported health benefits. The Center for Science in the Public Interest, an advocacy group, cautions that no single food can reduce the risk of developing a disease linked to overall diet. AP reports that experts have expressed concerns that the label change could encourage people to eat yogurt high in sugar, which could increase the risk of developing diabetes

FTC to Decide Whether Noncompete Agreements Should Be Banned

FTC to Decide , Whether Noncompete Agreements , Should Be Banned. After receiving over 26,000 public comments about the issue, the Federal Trade Commission is set to deliver its verdict on April 30, NPR reports. . The commission said that if approved, the final rule "would generally prevent most employers from using noncompete clauses.". The commission said that if approved, the final rule "would generally prevent most employers from using noncompete clauses.". Approximately one in five Americans, spanning minimum wage workers to CEOs, are subject to noncompete agreements, the FTC estimates. . The Biden administration says that these types of agreements hurt workers by decreasing wages. The White House also argues that these agreements harm the U.S. economy because entrepreneurship isn't allowed to freely flourish. . FTC Chair Lina M. Khan issued a statement when the proposed ban was initially introduced. The freedom to change jobs is core to economic liberty and to a competitive, thriving economy, FTC Chair Lina M. Khan, via statement. Noncompetes block workers from freely switching jobs, depriving them of higher wages and better working conditions, and depriving businesses of a talent pool that they need to build and expand, FTC Chair Lina M. Khan, via statement. Businesses argue that noncompete agreements are essential for safeguarding investments and proprietary information. Those businesses also question whether the agency has the power "to regulate such agreements," NPR reports. . If the FTC votes to issue a final rule, enforcement wouldn't occur for 180 days, and legal challenges would likely ensue.

Millennials Want a 4-Day Workweek, Poll Indicates

Millennials Want a 4-Day Workweek, , Poll Indicates. Redfield and Wilton Strategies recently conducted a poll for 'Newsweek' to find out how Americans feel about the idea of moving toward a four-day workweek. 4,000 U.S. voters were surveyed between April 6 and 7. 63% were in favor of a four-day workweek. 46% think the model makes employees more productive. Out of all age groups surveyed, millennials accounted for 74% of those who want to work less hours. Of that 74%, 44% "were strongly in favor of a shorter working week," 'Newsweek' reports. 50% of people born in 1964 and before supported a four-day workweek. The results come as more companies are adopting shorter workweeks, and politicians are pushing to advance the trend in Congress. The results come as more companies are adopting shorter workweeks, and politicians are pushing to advance the trend in Congress. The sad reality is, Americans now work more hours than the people of most other wealthy nations, Bernie Sanders, via March 2024 health committee hearing. Lisa Countryman-Quiroz, CEO of non-profit JVS, called a 5-day, 40-hour workweek outdated. The five-day workweek was created in a different time. It served its purpose, but today's world is more fast-paced and technology-driven than our workplace predecessors could have imagined, Lisa Countryman-Quiroz, CEO of non-profit JVS, via 'Newsweek'. Since implementing a four-day workweek, our results have been incredible. , Lisa Countryman-Quiroz, CEO of non-profit JVS, via 'Newsweek'. We've found our employees are more productive, report better work-life balance, and experience less burnout. Incredibly, our turnover rate has been cut nearly in half, Lisa Countryman-Quiroz, CEO of non-profit JVS, via 'Newsweek'

Biden Looks to Energize Young Voters With Earth Day Solar Energy Grants

Biden Looks to Energize , Young Voters With Earth Day , Solar Energy Grants. Biden Looks to Energize , Young Voters With Earth Day , Solar Energy Grants. NBC reports that President Joe Biden will mark Earth Day with the announcement of $7 billion in federal grants for residential solar projects. NBC reports that President Joe Biden will mark Earth Day with the announcement of $7 billion in federal grants for residential solar projects. The grants will bring solar energy to over 900,000 households in both low- and middle-income communities. . According to senior administration officials, the projects receiving additional funding will reduce emissions by 30 million metric tons and save $350 million every year. . According to senior administration officials, the projects receiving additional funding will reduce emissions by 30 million metric tons and save $350 million every year. . NBC reports that solar power has gained traction as a clean energy source that could help reduce U.S. reliance on fossil fuels. However, the high cost of initial installation makes solar energy inaccessible for many households in the U.S. However, the high cost of initial installation makes solar energy inaccessible for many households in the U.S. 49 of the new grants will be awarded at the state level, six more will serve Native American tribes and another five are multi-state awards. The grants will be used for renewable investments that include rooftop solar and community solar gardens. . The grants will be used for renewable investments that include rooftop solar and community solar gardens. . Officials say that the latest environmental announcements are part of an effort to energize young voters ahead of his upcoming reelection campaign. Biden also reportedly plans to expand the American Climate Corps green jobs training program, which was created last year by executive action. . Biden also reportedly plans to expand the American Climate Corps green jobs training program, which was created last year by executive action. . The corps, which will offer nearly 2,000 positions across 36 states, is meant to offer young Americans the chance to help enact the Biden administration's climate agenda. . The corps, which will offer nearly 2,000 positions across 36 states, is meant to offer young Americans the chance to help enact the Biden administration's climate agenda.

Stock Markets Rally Amid Investor Hopes for Interest Rate Cuts in 2024

Stock Markets Rally , Amid Investor Hopes for , Interest Rate Cuts in 2024. On the morning of May 15, both the S&P and the Nasdaq hit all-time highs after new data suggested inflation may be easing in line with expectations. Quartz reports that the Dow Jones Industrial Average is also inching toward the record-breaking 40,000 mark, which it almost hit in March. . According to the latest Bureau of Labor Statistics data, April saw the Consumer Price Index, a key gauge of inflation, rise by 3.4%. At the same time, consumer prices increased by 0.3%, slowing slightly from March's 0.4% increase. The latest data also shows that core prices, which don't include food and energy, saw the lowest increase since April of 2021, rising just 3.6%. . As a result, investors have a sense of renewed hope that the Federal Reserve will begin to cut interest rates at some point in 2024. The latest inflation data was released one day after the Producer Price Index, which measures wholesale inflation, increased 0.5%. . Over the past year, the index has increased 2.2%. Shortly after markets opened, the Dow jumped up 147 points, hitting 39,705, while the S&P 500 and the Nasdaq saw 0.5% increases. Shares in GameStop were down 30% after experiencing a boost earlier this week by the online return of investor "Roaring Kitten."

Key Federal Reserve Inflation Gauge Rose 2.8% in March

Key Federal Reserve Inflation Gauge , Rose 2.8% in March. According to Commerce Department data released on April 26. the personal consumption expenditures (PCE) price index, not including food or energy, rose 2.8% year-over-year in March. . That exceeded Dow Jones estimates of 2.7%, CNBC reports. . When also accounting for food and energy, the all-items PCE measure rose 2.7%, which was above the 2.6% estimate. Inflation reports released this morning were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC. ... but investors should not get overly anchored to the idea that inflation has been completely cured and the Fed will be cutting interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC. The prospects of rate cuts remain, but they are not assured, and the Fed will likely need weakness in the labor market before they have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC. Consumers continue to spend despite higher prices, CNBC reports. Personal spending increased 0.8% in March, while personal income rose 0.5%. The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living. The Fed continues to target 2% inflation, which the core PCE has exceeded for the last three years, CNBC reports.

Fears of Potential Iranian Attack Drive US Stocks Down Nearly 500 Points

Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points. CNN reports that United States stocks dropped on April 12 amid rising tensions in the Middle East pushing traders to seek safe havens like gold and bonds. CNN reports that United States stocks dropped on April 12 amid rising tensions in the Middle East pushing traders to seek safe havens like gold and bonds. By mid-afternoon, the Dow had fallen 1.4%, the S&P 500 went down 1.6%, and the Nasdaq dropped 1.8%. The dip came after the White House announced that both the U.S. and Israel are on alert for a potential attack by Iran or its allies. The dip came after the White House announced that both the U.S. and Israel are on alert for a potential attack by Iran or its allies. The warning comes after Iran accused Israel of a deadly airstrike on a consulate in Damascus, Syria. . The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza. . The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza. . Brent crude futures jumped up to $90.42 a barrel, and West Texas Intermediate crude futures increased to $86.65 a barrel. Those geopolitical concerns and subsequent rising oil prices sent investors to safe havens like gold futures, which rose to $2,379 a troy ounce. Those geopolitical concerns and subsequent rising oil prices sent investors to safe havens like gold futures, which rose to $2,379 a troy ounce. CNN reports that Americans' opinions of the economy have dipped in the past few months amid persistently high inflation. The geopolitical fears come as investors are already contending with concerns that the Federal Reserve could wait to bring interest rates down from a 23-year high. Officials at the Fed have signaled that further rate hikes could still be on the way if the central bank's efforts to fight inflation stall.

Federal Reserve Posts Massive $114 Billion Loss in 2023

Federal Reserve Posts Massive, $114 Billion , Loss in 2023. On March 26, the Federal Reserve announced a record-breaking net negative income of $114.3 billion in 2023. Reuters reports that the loss follows $58.8 billion in net income in 2022. . Since releasing the numbers, the Fed has stressed that negative net income does not impede its ability to operate. Since releasing the numbers, the Fed has stressed that negative net income does not impede its ability to operate. As a result of low rates and large levels of bond holdings, the Fed has earned significant profits in recent years. Last year, the Fed's audited interest expenses for banks' reserve balances reached $176.8 billion, an increase of over $116 billion from 2022. In 2023, the Fed's interest payouts from its reverse repo facility were $104.33 billion, increased from $41.9 billion the year before. Reuters reports that the Fed creates funds when dealing with operating losses, capturing its loss in an accounting device known as a deferred asset. Reuters reports that the Fed creates funds when dealing with operating losses, capturing its loss in an accounting device known as a deferred asset. At the close of 2023, the deferred asset stood at $133.3 billion. As of March 20 of this year, that number had risen to $157.8 billion with no indication of how much larger it could get. Last year, a St. Louis Fed report forecast that it could take years before the Fed can return to profitability and reduce the country's deferred asset. Last year, a St. Louis Fed report forecast that it could take years before the Fed can return to profitability and reduce the country's deferred asset

Trump Accepts Offer to Debate Biden

Trump Accepts Offer , to Debate Biden. On May 15, President Biden revealed that he agreed to an offer from CNN to debate Donald Trump and then challenged his predecessor to do the same. I’ve received and accepted an invitation from @CNN for a debate on June 27th. Over to you, Donald. As you said: anywhere, any time, any place, President Joe Biden, via X. Donald Trump lost two debates to me in 2020. Since then he hasn’t shown up for a debate. Now he’s acting like he wants to debate me again, President Joe Biden, via video message. Well, make my day, pal, I’ll even do it twice. So let’s pick the dates, Donald – I hear you’re free on Wednesdays, President Joe Biden, via video message. Trump took to Truth Social to respond. I am Ready and Willing to Debate Crooked Joe at the two proposed times in June and September, Donald Trump, via Truth Social. Both candidates have expressed a preference to debate sooner than the fall dates initially proposed by the Commission on Presidential Debates. Both candidates have expressed a preference to debate sooner than the fall dates initially proposed by the Commission on Presidential Debates. According to Biden campaign chair Jen O'Malley Dillion, those dates are "out of step with changes in the structure of our elections and the interests of voters.". Trump went on to say that he'd like to debate Biden more than twice. I would strongly recommend more than two debates and, for excitement purposes, a very large venue, although Biden is supposedly afraid of crowds - , Donald Trump, via Truth Social. That’s only because he doesn’t get them. Just tell me when, I’ll be there. 'Let’s get ready to Rumble!!!', Donald Trump, via Truth Social. That’s only because he doesn’t get them. Just tell me when, I’ll be there. 'Let’s get ready to Rumble!!!', Donald Trump, via Truth Social. The first debate between the two presidential candidates will be June 27. The first debate between the two presidential candidates will be June 27

Lok Sabha 2024: Rahul Gandhi Files Nomination in Wayanad Amid Lingering Amethi Debate |Oneindia News

Congress leader Rahul Gandhi holds a spirited roadshow in Wayanad, Kerala, ahead of filing his nomination papers for the Lok Sabha elections. Thousands of supporters join him, while CPI candidate Annie Raja also files her nomination. Criticism arises, questioning Rahul's decision to contest against Raja instead of confronting the BJP directly. The electoral dynamics in Wayanad reflect intricate alliances and fierce rivalries. #Congress #RahulGandhi #LokSabhaElections #Wayanad #KeralaElections #CPI #AnnieRaja #BJP #Amethi #CongressParty #Worldnews #Oneindia #Oneindianews ~HT.99~PR.152~ED.194~