Minggu, 23 Juni 2019

Trump Denies He Threatened to Demote Powell (But Says He Has Authority to Do So) - Slate Magazine

Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington, DC, December 19, 2018.

Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington, DC, December 19, 2018.

JIM WATSON/Getty Images

During his interview with NBC’s Meet the Press that aired Sunday, President Donald Trump did not mince words when it came time to talk about Federal Reserve Chairman Jerome Powell. “I’m not happy with his actions,” Trump said of Powell. “No, I don’t think he’s done a good job.” Trump accused Powell of raising interest rates “too fast,” handicapping his administration in a way that his predecessor never experienced. “Obama had very low rates,” Trump said. “So Obama was playing with funny money. I wasn’t. I’m playing with the real stuff.”

Trump insists though that even though he raised interest rates too quickly, that won’t affect his reelection chances. “I think the economy is so strong we’re going to bull through it,” the president said. “But I’m not happy with his actions, I don’t think he’s done a good job.”

When NBC’s Chuck Todd asked Trump about his “threat to demote” Powell, the president denied that he had ever done such a thing. “I didn’t ever threaten to demote him,” Trump said. “I have the right to do that. But I haven’t said that.” Reports earlier in the week said Trump had told close advisers that he has the authority to replace Powell as Fed chairman by demoting him to board governor.

Powell dismissed the talk about his possible demotion when he was asked about the reports at a news conference Wednesday. “I think the law is clear that I have a four-year term, and I fully intend to serve it,” Powell said.

Let's block ads! (Why?)


https://slate.com/news-and-politics/2019/06/trump-jerome-powell-denies-threat-demotion.html

2019-06-23 15:14:00Z
52780319728164

Trump says he never threatened to demote Federal Reserve Chairman Jerome Powell - CNBC

President Donald Trump, left, and Jerome Powell, governor of the U.S. Federal Reserve and Trump's nominee for chairman of the Federal Reserve, walk to a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017.

Saul Loeb | AFP | Getty Images

President Donald Trump said he never threatened to demote Federal Reserve Chairman Jerome Powell, though he maintained he has the authority to do so.

"I didn't ever threaten to demote him," Trump said in an interview with NBC's "Meet The Press" that aired Sunday. "I'd be able to do that if I wanted, but I haven't suggested that."

Trump went on to criticize the Federal Reserve for raising interest rates, saying Chairman Powell made a mistake.

"Obama had someone that kept the rates very low," Trump said. "I had somebody that raised the rates very rapidly -- too much. He made a mistake, that's been proven."

The Federal Reserve on Wednesday held interest rates steady, indicating that there would not be a cut in 2019. The central bank, however, forecast one to two possible rate cuts in 2020.

When asked Tuesday whether he wanted to demote Powell, Trump said: "Let's see what he does."

Bloomberg had reported that Trump considered demoting Powell in February, but White House economic advisor Larry Kudlow said the president wasn't currently considering such a move.

"It's a six-month-old story," he told reporters. "It allegedly happened six months ago and it's not happening today and therefore I have nothing to say about it. It is what it is."

Powell was asked point blank at a news conference after the Wednesday Fed meeting about how he would react if Trump said he wanted to demote him.

"I think the law is clear that I have a four-year term, and I fully intend to serve it," Powell said.

When asked whether he should address Trump's repeated criticism, the Fed chairman said he doesn't "discuss elected officials publicly or privately."

The Federal Reserve has raised interest rates seven times since Trump took office and originally indicated two more rate hikes in 2019. The central bank pivoted and adopted a more dovish stance after its hike in December sent markets reeling.

Trump has repeatedly claimed the stock market would be higher and economic growth faster if the Fed had not raised rates.

In the same "Meet The Press" interview that aired Sunday, Trump was asked whether he believed Fed policy would jeopardize his reelection chances.

"I think the economy is so strong we're going to bull through it," the president said. "But I'm not happy with his actions, I don't think he's done a good job."

Let's block ads! (Why?)


https://www.cnbc.com/2019/06/23/trump-says-he-never-threatened-to-demote-federal-reserve-chairman-jerome-powell.html

2019-06-23 14:19:30Z
52780319728164

Trump says he never threatened to demote Federal Reserve Chairman Jerome Powell - CNBC

President Donald Trump, left, and Jerome Powell, governor of the U.S. Federal Reserve and Trump's nominee for chairman of the Federal Reserve, walk to a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017.

Saul Loeb | AFP | Getty Images

President Donald Trump said he never threatened to demote Federal Reserve Chairman Jerome Powell, though he maintained he has the authority to do so.

"I didn't ever threaten to demote him," Trump said in an interview with NBC's "Meet The Press" that aired Sunday. "I'd be able to do that if I wanted, but I haven't suggested that."

Trump went on to criticize the Federal Reserve for raising interest rates, saying Chairman Powell made a mistake.

"Obama had someone who kept the rates very low," Trump said. "I had somebody who raised the rates very rapidly -- too much. He made a mistake, that's been proven." 

The Federal Reserve on Wednesday held interest rates steady, indicating that there would not be a cut in 2019. The central bank, however, forecast one to two possible rate cuts in 2020. 

When asked Tuesday whether or not he wanted to demote Powell, Trump said: "Let's see what he does." 

Bloomberg had reported that Trump considered demoting Powell in February, but White House economic advisor Larry Kudlow said the president wasn't currently considering such a move.

"It's a six-month-old story," he told reporters. "It allegedly happened six months ago and it's not happening today and therefore I have nothing to say about it. It is what it is."

Powell was asked point blank at a news conference after the Wednesday Fed meeting about how he would react if Trump said he wanted to demote him. 

"I think the law is clear that I have a four-year term, and I fully intend to serve it," Powell said.

When asked whether he should address Trump's repeated criticism, the Fed chairman said he doesn't "discuss elected officials publicly or privately."

The Federal Reserve has raised interest rates 7 times since Trump took office and originally indicated two more rate hikes in 2019. The central bank pivoted and adopted a more dovish stance after its hike in December sent markets reeling.

Trump has repeatedly claimed the stock market would be higher and economic growth faster if the Fed had not raised rates.

In the same "Meet The Press" interview, Trump was asked whether he believed Fed policy would jeopardize his reelection chances. 

"I think the economy is so strong we're going to bull through it," the president said. "But I'm not happy with his actions, I don't think he's done a good job."

Let's block ads! (Why?)


https://www.cnbc.com/2019/06/23/trump-says-he-never-threatened-to-demote-federal-reserve-chairman-jerome-powell.html

2019-06-23 13:26:30Z
52780319728164

Trump says he never threatened to demote Federal Reserve Chairman Jerome Powell - CNBC

President Donald Trump, left, and Jerome Powell, governor of the U.S. Federal Reserve and Trump's nominee for chairman of the Federal Reserve, walk to a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017.

Saul Loeb | AFP | Getty Images

President Donald Trump said he never threatened to demote Federal Reserve Chairman Jerome Powell, though he maintained he has the authority to do so.

"I didn't ever threaten to demote him," Trump said in an interview with NBC's Meet The Press that aired Sunday. "I'd be able to do that if I wanted, but I haven't suggested that."

Trump went on to criticize the Federal Reserve for raising interest rates, saying Chairman Powell made a mistake.

"Obama had someone who kept the rates very low," Trump said. "I had somebody who raised the rates very rapidly -- too much. He made a mistake, that's been proven." 

The Federal Reserve on Wednesday held interest rates steady, indicating that there would not be a cut in 2019. The central bank, however, forecast one to two possible rate cuts in 2020. 

When asked Tuesday whether or not he wanted to demote Powell, Trump said: "Let's see what he does." 

Bloomberg had reported that Trump considered demoting Powell in February, but White House economic advisor Larry Kudlow said the president wasn't currently considering such a move.

"It's a six-month-old story," he told reporters. "It allegedly happened six months ago and it's not happening today and therefore I have nothing to say about it. It is what it is."

Powell was asked point blank at a news conference after the Wednesday Fed meeting about how he would react if Trump said he wanted to demote him. 

"I think the law is clear that I have a four-year term, and I fully intend to serve it," Powell said.

When asked whether he should address Trump's repeated criticism, the Fed chairman said he doesn't "discuss elected officials publicly or privately."

In the same Meet The Press interview, Trump was asked whether he believed Fed policy would jeopardize his reelection chances. 

"I think the economy is so strong we're going to bull through it," the president said. But I'm not happy with his actions, I don't think he's done a good job."

This is breaking news. Please Check back for updates.

Let's block ads! (Why?)


https://www.cnbc.com/2019/06/23/trump-says-he-never-threatened-to-demote-federal-reserve-chairman-jerome-powell.html

2019-06-23 13:26:29Z
52780319728164

FedEx, in another error, misses delivery of Huawei package to U.S. - Reuters

(Reuters) - FedEx Corp said on Sunday an operational error prevented a Huawei Technologies package from being delivered to the United States, just weeks after the U.S. delivery company said an error led to the Chinese firm’s packages being misdirected.

FILE PHOTO: A Federal Express truck makes its way down a freeway in San Diego, California August 22, 2014. REUTERS/Mike Blake/File Photo

“The package in question was mistakenly returned to the shipper, and we apologize for this operational error,” FedEx told Reuters in an emailed statement. A company spokeswoman confirmed that the package was U.S. bound but declined to say what it contained.

China's Global Times newspaper said in a tweet bit.ly/2ZB6isY later that FedEx is likely to be added to China's 'unreliable entities list' due to the incident.

Amid a bruising trade dispute between Washington and Beijing, China threatened late in May to unveil an unprecedented hit-list of “unreliable” foreign firms, groups and individuals that harm the interests of Chinese companies.

Huawei, the world’s biggest telecoms gear maker, is at the center of the U.S.-China trade dispute.

China’s commerce ministry and FedEx did not respond immediately to a request for comment on the likelihood of the company being added to the ‘unreliable’ list. Global Times is published by the ruling Communist Party’s People’s Daily.

China launched an investigation into FedEx earlier this month over Huawei parcels delivered to the wrong address, without giving details about the deliveries in question.

China’s state news agency Xinhua had said back then that the investigation into FedEx over misdirected mail should not be regarded as retaliation against the U.S. company, amid the trade spat.

The United States and China have been engaged in a trade dispute for months on issues such as tariffs, subsidies, technology, regulations and cyber security, among others, with Washington putting Huawei on a blacklist last month citing national security.

“FedEx can accept and transport all Huawei products except for any shipments to listed Huawei entities on the U.S. Entity List,” the company said on Sunday.

On Friday, the U.S. Commerce Department said it was adding several Chinese companies and a government-owned institute involved in supercomputing with military applications to its national security “entity list” that bars them from buying U.S. parts and components without government approval.

Huawei, which said it was reviewing its relationship with FedEx after the mishandling of its packages earlier, did not immediately respond to a Reuters request for comment on Sunday.

Reporting by Kanishka Singh in Bengaluru; Editing by Muralikumar Anantharaman

Let's block ads! (Why?)


https://www.reuters.com/article/us-huawei-tech-fedex-usa/fedex-in-another-error-misses-delivery-of-huawei-package-to-us-idUSKCN1TO047

2019-06-23 05:21:00Z
52780318695974

US postal worker shot to death in Louisiana - KLFY

[unable to retrieve full-text content]

  1. US postal worker shot to death in Louisiana  KLFY
  2. US postal worker shot to death in Shreveport  NOLA.com
  3. Postal worker gunned down while delivering mail in Louisiana, police say  USA TODAY
  4. UPDATED: Man arrested after shooting postal worker | Crime  KTBS
  5. UPDATED: Postal worker dies after shooting in Shreveport's South Highland neighborhood  KTBS
  6. View full coverage on Google News

https://www.klfy.com/news/louisiana/us-postal-worker-shot-to-death-in-louisiana/2093505788

2019-06-23 02:04:00Z
52780319302455

Sabtu, 22 Juni 2019

Electric Car Major Headache: Waiting Hours for Charging Bay then Hrs to Charge - MishTalk

The electric vehicle grand vision may flounder on something most drivers take for granted: a quick pit stop.

The inconvenient truth of electric vehicles is they are terribly inconvenient to own and operate. Most cars need a charge after 200 to 250 miles traveled.

Charging them requires finding a charging station, and then an open bay.

The New York Times reports L.A. to Vegas and Back by Electric Car: 8 Hours Driving; 5 More Plugged In.

The NYT author, Ivan Penn, drove a Chevrolet Bolt from LA to Las Vegas, a 540-mile round trip that many people make regularly.

Penn reports that in addition to eight hours on the road, he spent close to five and a half hours charging the car. That's about 41% charging time.

It could have been much worse. "We always found a charger available, though more than once we got the last one, and drivers arriving after us had to wait," said Penn.

Thus, what was 5.5 hours could easily have been 8 hours. All it would have taken was one nasty wait. Tesla owners have been known to wait an hour or more for a charger to open up. And Tesla owners can use either Tesla stations or public stations. The reverse is not true.

The United States has about 24,000 public charging stations, with an average of fewer than three charging posts. By comparison, there are about 150,000 gas stations, some with dozens of pumps.

Will the number of charging stations increase as fast as electric vehicles?

I don't know but the alleged saving over gasoline is not as good as reported.

Charging costs an average cost $10 for about 200 miles, depending on the car, That's about about half the typical cost of gasoline for that distance, according to AAA.

"Our experience was not as economical: We spent about $67 on electricity, perhaps $10 less than we might have on gas," says Penn. Of course, no one can predict with any reasonable degree of accuracy, future electric costs or future gasoline prices.

Is this really "green"?

Debates on environmental friendliness rage, but even if this is an environmentally friendly setup, it's ridiculously inconvenient to spend 8 hours or even 5.5 hours charging a car for an 8-hour trip.

Regulations

There are no standards for plugs, fast chargers, or number of bays. Regulations have not caught up, but Mountlake Terrace, Washington, a Seattle suburb, is forcing developers to put up charging stations.

  1. Signage. Each charging station space shall be posted with signage indicating the space is only for electric vehicle charging purposes. Days and hours of operation shall be included if time limits or tow-away provisions are to be enforced.
  2. Clearance. Charging station equipment mounted on pedestals, light posts, bollards or other devices shall be a minimum of 24 inches clear from the face of curb.
  3. Charging Station Equipment. Charging station outlets and connector devices shall be no less than 36 inches or no higher than 48 inches from the top of surface where mounted, and shall contain a retraction device and/or a place to hang permanent cords and connectors sufficiently above the ground or paved surface.
  4. Charging Station Equipment Protection. When the electric vehicle charging station space is perpendicular or at an angle to curb face and charging equipment, adequate equipment protection, such as wheel stops or concrete-filled steel bollards shall be used.
  5. Maintenance. Charging station equipment shall be maintained in all respects, including the functioning of the charging equipment. A phone number or other contact information shall be provided on the charging station equipment for reporting when the equipment is not functioning or other problems are encountered.

Required Number of Stations

When Do EV Vehicles Make Sense?

  1. Currently, nowhere, from a cost standpoint. People buy EVs or hybrids on the questionable belief they are doing something for the environment.
  2. For those who very seldom drive at all and for those whom walking, public transportation, or Uber is a viable option, no car of any kind makes economic sense. However, for those who demand the convenience of having a car, the points made below apply.
  3. If and when the cost of an EV is no more than the cost of a gas-powered vehicle (factoring in gas, insurance, life of car, maintenance costs) EVs become practical for those who seldom if ever drive more than 150 mile or so before a known lengthy stop that also happens to have a charger. For most, the charging station needs to be home or work.
  4. Until batteries charge as fast or nearly as fast fueling a gas-powered vehicle or readily available battery swapping stations exist, EVs will not make sense for a big percentage of drivers.

Number 3 may happen soon, or not, but 3 likely precedes 4 by a lengthy period.

Those who live in a big metropolitan area who seldom is ever drive outside that area, who also demand the convenience of having their own car whether it makes economic sense might find EVs practical in the near future. Many millions of people meet this description.

In general, ownership and inconvenience costs need to drop before EV ownership takes off. For many, we are a decade away unless and until there are readily available super-fast charging or swapping stations.

For those living in cities, I expect outright ownership rates will drop as self-driving Uber and new rental opportunities catch on.

Mike "Mish" Shedlock

Let's block ads! (Why?)


https://moneymaven.io/mishtalk/economics/electric-car-major-headache-waiting-hours-for-charging-bay-then-hrs-to-charge-NidkyH-xY0alvIoaQibQJw/

2019-06-22 20:04:00Z
52780319365496