By Reuters Amazon founder Jeff Bezos is donating $100 million to the Obama Foundation in honor of Congressman John Lewis, a hero of the U.S. civil rights movement of the 1960s who died last year, the foundation said on Monday. As part of the gift, Bezos has asked that the plaza at the Obama Presidential
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By Chris Isidore, CNN Business Jerome Powell’s tenure leading the Federal Reserve has been among the most tumultuous in the central bank’s history. And Powell’s second term won’t necessarily be much easier. He and his policies have been the spotlight largely because of a once-in-a-century pandemic that caused the deepest economic downturn since the Great
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By Julia Horowitz, CNN Business The news moves fast. Yesterday, we looked at whether President Joe Biden would reappoint Federal Reserve Chair Jerome Powell, one of the most powerful figures guiding the global economy. The answer came quickly. What’s happening: On Monday morning, Biden formally announced his intent to nominate Powell to a second four-year
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By Anna Bahney Despite low inventory and rising prices, home sales inched higher in October, marking a second straight month of growth, according to a report from the National Association of Realtors. Sales of existing homes, which include single-family homes, townhomes, condominiums and co-ops, rose 0.8% month-over-month. After slowing during the summer, sales reignited in
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By Anneken Tappe, CNN Business Wall Street approved of President Joe Biden’s intention to nominate Jerome Powell for a second term at the helm of the Federal Reserve. But the initial jolt in the stock market didn’t last until the close. The market opened in the green and kept rising. But half-way through the session
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Every month or so, while conversing with sources at Fox News, I express surprise that Jonah Goldberg and Stephen Hayes are still employed by the network. After all, the two
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By Paul R. La Monica, CNN Business By choosing to stick with Jerome Powell, who Donald Trump selected to be Federal Reserve chairman in 2017, President Biden proved that he learned a valuable lesson from his former boss about continuity over partisan politics during challenging economic times. Just as Barack Obama stayed with Ben Bernanke
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By Kaitlan Collins, Kate Sullivan, Betsy Klein and Matt Egan, CNN President Joe Biden on Monday formally announced his intent to nominate Jerome Powell to serve as the chairman of the Federal Reserve for a second term and nominate Lael Brainard to serve as the Fed’s vice chair. Powell’s four-year term is up in February,
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By Julia Horowitz, CNN Business When it comes to influence over the global economy, few people in the world are more powerful than Jerome Powell, chair of the US Federal Reserve. This week, investors may learn whether he’s tapped for another four-year term or out of a job. What’s happening: President Joe Biden is expected
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By Laura He, CNN Business A Chinese central official has warned that stagflation could weigh on an already struggling economy next year. It’s the latest sign that the government may be thinking about taking some aggressive steps to address slowing growth, including its first lending rate cut since early 2020. Liu Shijin, a member of
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Every month or so, while conversing with sources at Fox News, I express surprise that Jonah Goldberg and Stephen Hayes are still employed by the network. After all, the two
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Every month or so, while conversing with sources at Fox News, I express surprise that Jonah Goldberg and Stephen Hayes are still employed by the network. After all, the two
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By Ramishah Maruf, CNN Business The fiancée of murdered journalist Jamal Khashoggi wrote an open letter published by the Washington Post calling for Justin Bieber to cancel his upcoming concert in Saudi Arabia. “That’s why I am writing to you with a plea: Cancel your Dec. 5 performance in Saudi Arabia,” Hatice Cengiz wrote Saturday.
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By Ramishah Maruf, CNN Business What began as a Pulitzer Prize-winning New York Times Magazine cover story, the 1619 Project has now produced two books: one for adults, “A New Origin Story” and a children’s book, “Born on the Water.” But even though the 1619 Project books were just released earlier this week, states such
Continue Reading By Ramishah Maruf, CNN Business What began as a Pulitzer Prize-winning New York Times Magazine cover story, the 1619 Project has now produced two books: one for adults, “A New Origin Story” and a children’s book, “Born on the Water.” But even though the 1619 Project books were just released earlier this week, states such
Continue Reading By Frank Pallotta, CNN Business In 1984, “Ghostbusters” became one of the most popular comedies in film history. Now, nearly four decades later, audiences answered the call at the ticket booth for a new sequel in the spooky franchise. “Ghostbusters: Afterlife” — which stars Paul Rudd, Mckenna Grace and Finn Wolfhard — took in an
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By Frank Pallotta, CNN Business There was a lot of news to cover from this week, and “Saturday Night Live” had its Judge Jeanine take it all on. The Fox News personality, who was played by Cecily Strong, opened Saturday night’s episode of the NBC variety show. “Good evening, I’m Judge Jeanine Pirro, and if
Continue Reading By Ramishah Maruf, CNN Business Even among the generally youthful demographic of Starbucks workers unionizing in Buffalo, New York, 17-year-old Maya Panos is younger than most. In her short stint as a member of the labor market, the high school senior says she lost economic stability — Panos was laid off from her first job
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By Danielle Wiener-Bronner, CNN Business Late this summer, drive-thru times slowed by about 26 seconds compared to last year, according to a study. That may not seem like much — but in the world of fast food, every moment counts. “Mere seconds can be a make-it or break-it in terms of where a consumer decides
Continue Reading By Danielle Wiener-Bronner, CNN Business Late this summer, drive-thru times slowed by about 26 seconds compared to last year, according to a study. That may not seem like much — but in the world of fast food, every moment counts. “Mere seconds can be a make-it or break-it in terms of where a consumer decides
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