Fed faces hefty data, political calendar before next policy meeting
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Federal Reserve officials will meet in nine days to decide on interest rates amid significant economic data and a U.S. presidential election; the Fed's last rate cut on September 18 reduced the policy rate to 4.75%-5.00%; strong consumer spending and job creation have been reported since then; unemployment is at 4.1% and inflation is closer to the 2% target; Fed officials, including San Francisco Fed President Mary Daly, support further rate cuts; upcoming data includes inflation readings and the October jobs report, which may show job growth slowing due to external factors; the election on November 5 could influence Fed decisions, particularly if Donald Trump wins; analysts expect a quarter-percentage-point cut next month; projections indicate a need for at least one full percentage point of cuts before reaching a neutral policy level.

#FederalReserve #InterestRates #Inflation #Employment #UsElection #EconomicData #PolicyMeeting #MaryDaly #DonaldTrump #JobGrowth

https://gazette.com/news/us-world/fed-faces-hefty-data-political-calendar-before-next-policy-meeting/article_373003b6-8753-58af-938f-2e015efe8b95.html 

 Examining Trump's and Harris' economic plans
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Donald Trump's economic policies focus on increased tariffs, particularly on China and the EU, which may worsen inflation as businesses pass costs to consumers; he aims to reduce energy costs despite OPEC's influence and supports mass deportation and tax cuts. Kamala Harris emphasizes curbing corporate monopolies with a federal price gouging ban, plans to build 3 million homes, offers a $25,000 tax credit for homebuyers, reinstates the child tax credit, expands the Earned Income Tax Credit, and raises the corporate tax rate from 21% to 28%. Both candidates' policies could significantly increase U.S. debt, which stands at $35 trillion with annual interest payments of $1 trillion. The author advocates for policies that enhance revenue through job creation to balance the budget.

#Trump #Harris #Economy #Tariffs #Inflation #TaxPolicy #Housing #CorporateTax #Debt #EconomicStrategy

https://gazette.com/business/examining-trumps-and-harris-economic-plans-tatiana-bailey/article_1cadd758-6adc-11ef-8a05-db38fd660d03.html 

 Israel's Lapid calls for labor strike after hostages' bodies recovered
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Yair Lapid, Israeli opposition leader and former prime minister, called for a nationwide labor strike on May 30, 2024, to pressure the government for the release of remaining hostages in Gaza. This call to action followed the recovery of six hostages' bodies from captivity. Lapid urged all Israelis affected by the situation to participate in a major protest in Tel Aviv later that day, seeking support from the main labor union, businesses, and municipalities.

#Israel #YairLapid #Hostages #LaborStrike #Gaza #Protest #Politics #Economy #Hamas #TelAviv

https://gazette.com/news/us-world/israels-lapid-calls-for-labor-strike-after-hostages-bodies-recovered/article_ff373735-3a89-5c27-9c35-92646bfd0d9f.html 

 Ukraine's top general says situation 'difficult' around main Russian attack
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Colonel general Oleksandr Syrskyi, Commander of the Ukrainian Ground Forces, stated on January 12, 2024, that the situation is 'difficult' around Russia's main attack in eastern Ukraine, particularly targeting the city of Pokrovsk. Syrskyi emphasized that necessary decisions are being made promptly. He described the fighting near Pokrovsk as 'exceptionally tough' and noted that Russia has captured significant territory in eastern Ukraine since its full-scale invasion began in February 2022. Ukraine launched a surprise incursion into Russia's west Kursk region on August 6, 2023, to divert Russian resources and strengthen its negotiating position.

#Ukraine #Russia #Military #Syrskyi #Zelenskiy #Pokrovsk #Kursk #Invasion #Conflict #EasternUkraine

https://gazette.com/news/us-world/ukraines-top-general-says-situation-difficult-around-main-russian-attack/article_85c0adb1-f506-57c8-9013-d4baa70a147c.html 

 Trading in global markets is mixed and muted ahead of a key Fed chair speech
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Global shares traded mixed on August 23, 2024, ahead of Federal Reserve Chair Jerome Powell's speech that may indicate the pace of interest rate cuts. France's CAC 40 rose 0.3% to 7,546.93; Germany's DAX gained 0.4% to 18,563.15; Britain's FTSE 100 added nearly 0.2% to 8,302.17. U.S. Dow futures were up 0.3% at 40,930.00, and S&P 500 futures rose 0.4% to 5,614.75. Japan's Nikkei 225 rose 0.4% to 38,364.27, while Australia's S&P/ASX 200 slipped less than 0.1% to 8,023.90. Bank of Japan Gov. Kazuo Ueda indicated gradual interest rate increases. U.S. economic data showed mixed signals, with more unemployment claims than expected and a split in business activity. The Fed's main interest rate is at its highest in over two decades, with expectations for cuts in September 2024. Energy prices rose slightly, with U.S. crude at $73.48 per barrel and Brent crude at $77.71.

#GlobalMarkets #FederalReserve #InterestRates #StockMarket #EconomicData #Japan #UsEconomy #EnergyPrices #Inflation #BusinessActivity

https://gazette.com/ap/international/trading-in-global-markets-is-mixed-and-muted-ahead-of-a-key-fed-chair-speech/article_60ae6f7c-75e0-503d-82b9-edf316511fda.html 

 Nigeria arrests seven Polish nationals for raising Russian flags at protests
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Nigeria has arrested seven Polish nationals for raising Russian flags during anti-government protests in the northern state of Kano; The protests began on August 1 against President Bola Tinubu's economic reforms; Some protesters waved Russian flags, raising concerns about increased Russian activity in western Africa; The Polish nationals were detained during security operations by the Department of State Services; The Polish consul to Nigeria confirmed the arrests; Nigeria's Chief of Defence Staff called the brandishing of a foreign flag during protests a 'treasonable offence'; The Russian embassy in Nigeria denied any involvement.

#Nigeria #Protests #PolishNationals #RussianFlags #Security

https://gazette.com/news/us-world/nigeria-arrests-seven-polish-nationals-for-raising-russian-flags-at-protests/article_b685ddea-62e8-5b40-a7b7-af77ebc7702d.html 

 Aftermath of military strike in Kursk Region
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The aftermath of a military strike in the Kursk Region is being discussed. The acting governor of the Kursk Region is involved in the discussion. There is a global market rout happening, which is attributed to the end of cheap funding rather than the US economy. Kamala Harris is narrowing down her choice for vice president to Walz and Shapiro. Trump has announced that he will do an interview with Elon Musk on Monday night. A monitor group reports that an uncrewed Chinese military aircraft was tracked close to the Vietnam coast. There is a special offer of $1 for 1 month, followed by $4.99 a month after.



https://gazette.com/news/us-world/aftermath-of-military-strike-in-kursk-region/image_dfa9b394-220f-50d7-97a2-568fd2c87991.html 

 U.S. inflation decelerating in boost to economy
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U.S. inflation is decelerating, which is seen as a boost to the economy; The U.S. Secret Service chief blames a security lapse on local police; Venezuela opposition leader Freddy Superlano has been detained, according to his party; Foreign actors are expected to try to influence the reshaped U.S. presidential race, says an intelligence officer; Nine Latin American governments have called for an emergency meeting of the Organization of American States (OAS)



https://gazette.com/news/us-world/u-s-inflation-decelerating-in-boost-to-economy/image_88487b8f-8bbf-5a4f-a83b-994e0a12fceb.html 

 Tatiana Bailey: New rules for the gig economy
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The article discusses the new rules for the gig economy and the classification of workers as independent contractors or employees. It is estimated that 40-45% of U.S. workers are independent contractors, with about 30 million working full-time independently. The Department of Labor rules defining worker classification were repealed by the Trump administration and are now being reinstated by the Biden administration. Independent contractors do not receive federal labor protections like minimum wage, workers' compensation, and unemployment benefits. The gig economy has seen an increase in ride-share and food-delivery drivers, as well as gig workers in healthcare, hospitality, and construction industries. In 2020, companies like Uber fought and won exemptions to reclassify workers as employees, citing loss of work flexibility and increased ride prices. The trend towards gig work is expected to increase due to technological advancements, including artificial intelligence. The new rules for worker classification depend on factors such as job permanence, employer control, and job integration with the overall business. Businesses oppose the reinstated Labor Department rule, while labor unions support it. The author predicts more litigation and potential increased employer costs that could contribute to inflationary pressures.

#GigEconomy #IndependentContractors #EmployeeClassification #DepartmentOfLabor #Rideshare #FoodDelivery #Uber #TechnologicalAdvancements #ArtificialIntelligence #WorkerClassification #LaborUnions #Litigation #EmployerCosts #InflationaryPressures

https://gazette.com/business/tatiana-bailey-new-rules-for-the-gig-economy/article_094f2cd8-fc5b-11ee-9e20-773b6158ac73.html 

 UN Human Rights Myanmar
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The UN's leading human rights body has agreed to measures aimed at putting pressure on Myanmar and Iran. The council backed a measure that calls on governments to avoid exporting or selling jet fuel to Myanmar if they believe its ruling military junta might use the fuel to violate human rights. The council also extended two separate investigations into human rights in Iran. A resolution calling on countries to stop sending weapons to Israel amid its military campaign in Gaza is expected to come up in Friday's session.



https://gazette.com/ap/international/un-human-rights-myanmar/image_ab598b3e-05a4-5e15-b86a-5184328b00d1.html