In Today's Digital Newspaper Treasury Secretary Janet Yellen sees diminishing risk the U.S. will fall into a recession. She pointed to the labor market's resilience and tamer price gains, but suggested weaker consumer spending may be the price to pay for cooler inflation.
Ford secured a $9.2 billion loan from the Department of Energy to build EV battery factories. It's one of the largest loans of its kind ever. More in Energy section. War in Ukraine has resulted in food security concerns which may boost adoption of genetically modified crops globally, said Bayer AG's Crop Science unit head, Rodrigo Santos.
According to Rabobank Protein Analyst Christine McCracken, California's Proposition 12 law might inadvertently lead to the introduction of African swine fever into the United States. McCracken also says that while the chicken sandwich wars may have cooled down for now, they will likely intensify again in the future.
Republicans won't beat Trump with 2016 strategy in 2023, says Amy Walter of the Cook Political Report. Meanwhile Charlie Cook says despite his legal perils, Trump's standing among independents should worry Biden. David Wasserman, House editor of the report, sizes up Iowa House elections. The Economist explores how ESG is angering some Republicans and has become a part of culture wars in the U.S.
Consumer prices in Japan rise at a faster-than-expected pace. Japan's CPI excluding fresh food gained 3.2% in May, decelerating from a 3.4% rise in April but faster than the 3.1% estimate. That could fuel speculation the BOJ will raise its inflation forecasts in July and even tweak its stimulus program.
The cost of thriving in America. Nearly every statistic says Americans are richer than they were a generation ago. Yet this seems wrong to many people who feel the American dream slipping out of reach. The big question: Are Americans better off today than they were in the 1980s? The Wall Street Journal looks at the cost of thriving and two conservative thinkers at odds over the evidence: Oren Cass of American Compass and Scott Winship of the American Enterprise Institute.
The outcomes of these court cases could clarify two key questions: How is it determined whether a cryptocurrency is a security? How can exchanges and digital-asset intermediaries legally register to do business in the U.S.? If the legal answers are unworkable or inconsistent, pressure may increase on Congress to develop new laws that better suit the industry. Nonetheless, political gridlock is complicating matters.
CHINA UPDATE — Biden defends calling Xi a dictator. President Joe Biden on Thursday defended his harsh public comments on China, including calling President Xi Jinping a dictator, saying his words would have no negative impact on U.S./China relations and that he still expects to meet with Xi in the future. Associated Press.
USTR said the resolution"also maintains the integrity of the U.S. Section 232 measures." That means India agreed to lift its trade retaliation without the U.S. altering the steel and aluminum tariffs that Trump imposed, a USTR spokesperson said. The visit's most surprising breakthrough was when President Biden coaxed Modi into taking questions from reporters at a joint news conference, one of the rare times the nationalist prime minister has done so in his nearly decade-long tenure, the New. York Times noted. Challenged on his record on human rights and religious freedom, Modi insisted that democracy is"in India's DNA" and denied that his government has fostered prejudice in serving its people.
Opposition from Greenpeace and some political groups is anticipated, but EU officials say that easing the regulations on gene-edited crops would have benefits for the environment and food security. Most member states, which also need to agree on the proposal, have reportedly expressed support for loosening GMO rules. Lifting the effective ban on gene-altered crops would assist not only the EU but also potentially the developing world, allowing them to deal with climate change more effectively.
— Republicans won't beat Trump with 2016 strategy in 2023. So says Amy Walter of the Cook Political Report."Among Republican primary voters, Donald Trump is more popular and seen as more electable than he was back in 2015," she writes."Traditional polling, which asks binary"yes/no" or"agree/disagree" questions, is unable to capture the gray area in which many GOP voters are living in regards to Trump.
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