Steven Blitz, US Economist at TS Lombard, joined The Final Round to discuss this weeks jobless claims numbers and his outlook for the U.S. economy.
Steven Blitz, US Economist at TS Lombard, joined The Final Round to discuss this weeks jobless claims numbers and his outlook for the U.S. economy.
The U.S. Army Corps of Engineers on Monday approved one of the last remaining permits for Enbridge Energy's planned Line 3 crude oil pipeline replacement across northern Minnesota, bringing the project a step closer to construction. “This decision is based on balancing development with protecting the environment,” said Col. Karl Jansen, commander of the St. Paul District commander. All that remains in the six-year-old process now is for the Minnesota Pollution Control Agency to issue a storm water construction permit to protect surface waters from runoff while it's being built, and then for the independent Public Utilities Commission to give a final green light.
Former Watergate sleuth Carl Bernstein took to Twitter to list the names of 21 Republican senators who he says have “repeatedly expressed contempt” for Donald Trump and his fitness to be president. Bernstein's post was condemned Monday by some of those involved. It was an eyebrow-raising modern twist on journalism from the former Washington Post reporter who, with partner Bob Woodward in the 1970s, penned scoops that led to the resignation of President Richard Nixon.
Parishioners of St. Andrews Catholic Church in Fort Worth, Texas, know that the Rev. Jim Gigliotti does not water down Catholic teaching for the sake of his flock’s comfort. He doesn’t mince words when explaining it, either.
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As safety Julian Blackmon studied his new Indianapolis Colts playbook last spring, one thought kept running through his mind: Defensive Rookie of the Year. ''I sat down and literally wrote Defensive Rookie of the Year all over my playbook because that's what I want,'' he said after forcing the game-changing fumble in Indy's 34-31 overtime victory over Green Bay. Pro Bowl linebacker Darius Leonard, the 2018 Defensive Rookie of the Year, started the lobbying effort Sunday.
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WASHINGTON — President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies at a perilous time, according to a person familiar with the transition plans.Yellen, who is widely admired in the financial world, would be the first woman to lead the Treasury Department in a line stretching back to Alexander Hamilton in 1789. Her nomination was confirmed to The Associated Press by a person who spoke on condition of anonymity to discuss Biden's plans.If confirmed as treasury secretary, Yellen would inherit a shaky U.S. economy, weakened by the pandemic recession and now in the grip of a surging viral epidemic that is intensifying pressure on businesses and individuals. Concern is rising that the economy could slide into a “double-dip” recession this winter as states and cities reimpose restrictions on businesses and consumers stay home to avoid contracting the disease.A path-breaking figure in the male-dominated economics field, Yellen, 74, was also the first woman to serve as Fed chair, from 2014 to 2018. She later became an adviser to Biden's presidential campaign in an unusual departure for a former Fed leader.“She will bring to the role deep economic and policymaking expertise, national and international stature, and a ... personal commitment to fostering strong labour market conditions that draw in marginalized workers,” said Krishna Guha, an analyst at investment bank Evercore ISI.The treasury post would add another new chapter to Yellen's varied career in financial policymaking. She would represent the administration in global financial affairs and lead a sprawling department whose responsibilities range from the government's finances and tax collections to currency markets, bank regulation and the printing of money.Yellen would also take on the formidable task of helping negotiate economic policy with Sen. Mitch McConnell, the Kentucky Republican who will remain Senate majority leader if his party wins at least one of two Senate runoff elections in Georgia in early January. Those talks would likely focus most urgently on a new stimulus package that most economists say is vital to sustaining an economic recovery.Jaret Seiberg, a banking industry analyst at Cowen, described Yellen as a “pragmatist” who would likely pursue a relatively moderate path on banking regulation. Stock markets, which had already risen Monday, rose further after news leaked of her selection.Yellen enjoys a close working relationship with Jerome Powell, who succeeded her as Fed chair, something that would likely improve co-ordination between the Fed and the Treasury and perhaps result in additional support for the economy. Powell and the current treasury secretary, Steven Mnuchin, last week publicly disagreed over Mnuchin's decision to cancel several Fed emergency lending programs at the end of this month.Yellen has consistently favoured further stimulus spending for the economy, including for state and local governments, which she has said need “substantial support" to avoid further job cuts. Such rescue aid has been a key sticking point in congressional negotiations on a stimulus package, with McConnell resisting the larger amounts sought by Democrats.Before leading the Fed, Yellen was its vice chair for four years and before that was president of the Federal Reserve Bank of San Francisco for six years. Earlier, under President Bill Clinton, she led the president's Council of Economic Advisers, after serving a stint on the Fed's board.Yellen is well-known on Capitol Hill after years of testifying as Fed chair to Senate committees about the economy and interest rate policy. During those years, she frequently clashed with Republican lawmakers who accused her of keeping rates too low for too long after the 2008 financial crisis. Some of them charged that Yellen and her predecessor, Ben Bernanke, had elevated the risk of runaway inflation and asset bubbles that could destabilize financial markets.None of those fears came to pass. On the contrary, under Bernanke and Yellen — and later, under Powell — the Fed's more difficult challenge became raising inflation merely to the Fed's annual 2% target level. It has yet to do so consistently.Yellen, a Democrat, had served only one four-year term as Fed chair when President Donald Trump decided to replace her with Powell, a Republican, despite Yellen’s desire to serve another term. That move broke a four-decade tradition of presidents allowing Fed chairs to serve at least two terms even if they had first been nominated by a president of the opposing party. After leaving the Fed, Yellen became a distinguished fellow in residence at the liberal Brookings Institution in Washington, signalling her continuing interest in financial policymaking.Biden had said last week that his choice for treasury secretary would be “someone who I think will be accepted by all elements of the Democratic Party, progressives through the moderate coalition.”Yellen won the support of many progressive groups during the search process, said Jeff Hauser, executive director of the Revolving Door Project, a left-leaning organization, in part because she has endorsed a carbon tax as a way to reduce the emission of greenhouse gases.She is also an expert on unemployment and wages. Under her tenure, the central bank began shifting much of its policy focus from fighting inflation, which has been quiescent for decades, to trying to maximize employment, the second of its two congressional mandates. Yellen won praise for her attention to disadvantaged groups including the long-term unemployed. She made numerous visits to employment training centres to spotlight the need for training programs to equip people for good jobs.When she stepped down from the Fed in early 2018, Shawn Sebastian, co-director of the Fed-Up coalition, a collection of progressive groups, called Yellen's departure “a loss for working people across the country." He hailed her efforts to take on “economic inequality, racial disparities in the economy, the role of women in the workplace and the need for more diversity at the Fed.”Yet some progressives have also criticized Yellen for the Fed's December 2015 decision to raise its benchmark rate from near zero, where it had been pegged since late 2008 in the midst of the financial crisis. That rate hike, which caused a sharp increase in the value of the dollar, contributed to a slowdown in U.S. economic growth in 2016 and is now seen by many economists as having been premature.After leaving the Fed, Yellen became a distinguished fellow in residence at the liberal Brookings Institution in Washington. She did not initially comment about Trump's decision not to offer her a second term. But in a 2019 interview, Yellen said she didn't think Trump had a firm grasp of economic policy “or even knows the Federal Reserve's mandates” to stabilize prices and maximize employment.Yellen is married to George Akerlof, a Nobel Prize-winning economist whom she met in a Fed cafeteria in 1977. They have one son, Robert, who is an economics professor.___AP Economics Writer Martin Crutsinger contributed to this report.Christopher Rugaber And Michael Balsamo, The Associated Press
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%FLastPrev.Wk.Ago%L001%%Prime Rate% %3.25%%3.25%%3.25%%L002%%Discount Rate Primary%%0.75%%0.75%%0.75%%L003%%Fed Funds Target% %0.00-0.25%%0.00-0.25%%0.00-0.25%%L004%%T-Bills:%%%%%%%%L056%%1-month yld% %0.08%%0.09%%0.09%%L005%%3-month Disc% %0.085%%0.07%%0.09%%L057%%3-month yld% %0.08%%0.07%%0.09%%L006%%6-month disc% %0.09%%0.10%%0.10%%L058%%6-month yld% %0.08%%0.10%%0.12%%L007%%T-Bill, annualized, adjusted for%%%%%%%L008%%constant maturity:%%%%%%%%L009% %1-year% %0.13%%0.13%%0.12%%L010%%T-Notes:%%%%%%%L011% %1-year% %0.10%%0.11%%0.12%%L012% %2-year% %0.16%%0.16%%0.19%%L055% %3-year% %0.22%%0.21%%0.24%%L013% %5-year% %0.39%%0.38%%0.41%%L014% %10-year% %0.84%%0.81%%0.89%%L015%%T-Bond:%%%%%%%L016% %30-year% %1.57%%1.53%%1.66%%L017%%Libor:%%%%%%%%L018% %3-month% %0.23%%0.21%%0.21%%L019% %6-month% %0.26%%0.24%%0.24%%L020%%FHLB Cost of Funds, 11th District:%%%%%%%%L021% %Eff. Nov. 2% %0.53%%0.53%%0.53%%L022%%FNMA 30-year mortgage commitment:%%%%%%%%L023% %60-days% %1.81%%1.81%%1.81%%L024%%Money market fund:%%%%%%%%L025%%Fidelity Cash Reserves:%%%%%%%%L026% %7-day avg yld:% %0.01%%0.01%%0.01%METALS LastPrev.Wk.Ago%L027%%Gold (troy oz):%%%%%%%%L065% %London AM fix% %$1863.80%%$1867.00%%$1892.60%%L028% %London PM fix% %$1840.20%%$1875.70%%$1885.60%%L029% %HSBC Bank USA% %$1838.00%%$1874.25%%$1887.00%%L061% %NY Handy & Har% %$1840.20%%$1875.70%%$1885.60%%L062% %NY H&H fab% %$2042.62%%$2082.03%%$2093.02%%L063% %NY Engelhard%: %$1874.00%%$1857.00%%$1895.00%%L064% %NY Engelhrd fab% %$2014.55%%$2014.55%%$2037.13%%L030% %NY Merc% %$1837.80%%$1872.60%%$1887.30%%L031%%Silver (troy oz):%%%%%%%%L071% %Handy & Har% %$23.587%%$24.325%%$24.806%%L066% %H&H fabricated% %$29.484%%$30.406%%$31.008%%L067% %London AM% %$23.905%%$24.165%%$24.265%%L069% %Engelhard% %$24.400%%$23.850%%$24.750%%L070% %Engelhard fab% %$29.280%%$29.280%%$29.700%%L032%%NY Merc spot% %$23.624%%$24.348%%$24.786%%L033%%Copper (pound):%%%%%%%%L034% %NY Merc spot% %$3.2595%%$3.2935%%$3.2200%%L035%%Aluminum (pound):%%%%%%%%L036% %LME% %$0.8999%%$0.8994%%$0.8700%%L037%%Platinum (troy oz):%%%%%%%%L072% %Handy & Har% %$946.00%%$956.00%%$909.00%%L038% %NY Merc spot% %$931.70%%$957.20%%$927.50%%L039%%Palladium (troy oz):%%%%%%%%L040% %NY Merc spot% %$2351.80%%$2321.20%%$2342.20%%L041%%Cash Prices:%%%%%%%%L042%%Lead (metric ton)%%$1987.00%%$1951.00%%$1886.00%%L046%%Zinc HG (pound)% %$1.2641%%$1.2342%%$1.1850%%L047%%Gold Coins:%%%%%%%%L048% %U.S. Eagle 1 oz% %$1709.75%%$1742.73%%1751.93%%L049% %Austrla. Kangaroo 1 oz%%%%%%%%L050% %% %$1709.75%%$1742.73%%1751.93%%L051% %Krugerrand 1 oz% %$1881.66%%$1917.96%%1928.08%%L052% %Certificates of Deposit Retail%:%%%%%%%%L053% %90 days% %0.08%%0.08%%0.08%%L054% %180 days% %0.11%%0.11%%0.11%The Associated Press
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Question answered: G.O.A.T. Jeopardy! contestant Ken Jennings has been named the iconic game show's temporary new guest host, succeeding the legendary Alex Trebek, who died on Nov. 8 of pancreatic cancer. Additional guest hosts will be announced in the weeks ahead. A permanent host will be announced at a later date. “Alex believed in the […]
Good thing Vic Fangio doesn't have a quick hook. Drew Lock got off to another horrid start Sunday when he misfired on his first six passes, one of which was picked off for his AFC-leading 11th interception. This came after a week in which he was beat up pretty good, first by the Raiders and then by the Broncos' faithful.
NEW YORK — The New York Mets have abandoned their search for a president of baseball operations and will instead focus on hiring a general manager who will report to team president Sandy Alderson.Alderson returned to the team Nov. 6 when Steven Cohen completed his $2.42 billion purchase from the Wilpon and Katz families and that day fired general manager Brodie Van Wagenen. Alderson said then he wanted to hire a president of baseball operations but said Monday he had been thwarted in attempts to gain permission to speak with officials on other teams and another possible candidate had family issues that prevented a move.Alderson said Monday he will have a greater role in baseball operations than originally planned. He told Luis Rojas he will return for a second season as manager.Alderson turned 72 on Sunday. He was the Mets' general manager from October 2010 until he left in July 2018 following a recurrence of cancer.___More AP MLB: https://apnews.com/MLB and https://twitter.com/AP_SportsRonald Blum, The Associated Press
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Latest developments as tenuous efforts by White House to reverse election loss dealt lethal blow
A small number of supporters in Tier 1 and Tier 2 areas will be allowed back in to watch their teams for the first time since March.
OTTAWA — RCMP Commissioner Brenda Lucki has responded to a long-delayed watchdog report on alleged surveillance of anti-oil protesters after a civil liberties group went to court to force her hand.The submission of Lucki's comments on the interim report by the Civilian Review and Complaints Commission for the RCMP means the watchdog can now prepare a final report for public release.Paul Champ, lawyer for the British Columbia Civil Liberties Association, received a letter Friday from Lucki confirming her response to the commission.The association has accused the Mounties of sitting on the 2017 interim report for more than three years, prompting the group to recently ask the Federal Court to order Lucki to complete her input.Champ said although part of the court case is now moot, given Lucki has responded, the association plans to continue seeking a declaration that the commissioner's delay violated the RCMP Act."Hopefully, we can improve the system for others and shine a light on this clear gap in the law."The association lodged a complaint in February 2014 with the complaints commission, saying the RCMP improperly collected and shared information about people and groups who peacefully opposed the planned Northern Gateway pipeline project and attended National Energy Board meetings.The association also said monitoring, surveillance and information-sharing with other government agencies and the private sector created a chilling effect for those who might wish to take part in hearings or other public discussions on petroleum issues. The complaints commission launched a public interest investigation and completed an interim report into the matter in June 2017, forwarding it to the RCMP for comment on the conclusions and recommendations. The commission cannot prepare a final report until the RCMP commissioner responds, which also means the findings can't be disclosed to the civil liberties association or the public. In a June 23 letter to Lucki, Champ noted the RCMP Act imposes a legal duty to provide a response to the commission's interim report "as soon as feasible." The civil liberties association's notice of application, filed earlier this month, asked the court to order Lucki to respond to the interim report within 14 days, something she has now done.It also requested an order declaring the "extensive and unconscionable delay" of the report has interfered with the association's ability to speak about important public matters, breaching its charter right of free expression."We believe it's important for the Court to provide some guidance and parameters about how long is 'feasible' to complete a response," Champ says."The RCMP’s systematic disregard for the public complaint process is a serious and deeply rooted problem and needs to be addressed."The complaints commission is seeking the court's permission to intervene in the case.Nika Joncas-Bourget, general counsel for reviews with the commission, said in an affidavit filed with the court last week that the unreasonable delay of the RCMP commissioner's response has thwarted the watchdog in carrying out its mandate. "The delay also undermines the legitimacy, fairness, and efficacy of the public complaint process. Both the complainants and the RCMP members who are the subjects of the complaint must live with the stress and uncertainty of an unresolved complaint," she said.Any remedial action, such as training or policy changes, that the complaints commission recommends must also wait, she added. "This means that important lessons and systemic changes may wait for months or years past the time when they would be most useful and relevant."The complaints commission has a total of 148 interim reports awaiting a response from the RCMP commissioner, including 134 that have been outstanding for more than six months. In 119 of those cases the commission has been awaiting a response for at least one year. In one case, it has been waiting for over four years. The RCMP acknowledges delays in replying to interim complaints commission reports and the police force has committed to doubling the number of personnel responsible for review and analysis.The force says it intends to typically provide a written response within six months of the issuance of an interim commission report.This report by The Canadian Press was first published Nov. 23, 2020.Jim Bronskill, The Canadian Press
Hyderabad (Telangana) [India], November 24 (ANI): Hours after the Telangana Rastra Samithi (TRS) released its manifesto for the upcoming Greater Hyderabad Municipal Corporation elections, Union Minister of State for Home Affairs G Kishan Reddy on Monday alleged that the ruling party's "useless" manifesto is copied-pasted from the earlier one of 2016 as they have not fulfilled the previous promises.
Apple Inc's security chief on Monday was indicted on bribery charges as prosecutors alleged he promised a donation of 200 iPads to the Santa Clara County Sheriff's Office to secure four concealed-weapon permits for Apple employees. The Santa Clara County District Attorney's Office said a grand jury indicted Apple Chief Security Officer Thomas Moyer, 50, and two officers in the Sheriff's Office. The officers were charged with soliciting bribes for issuing concealed carry permits.