Opinion: The Fed’s rate hikes could soon be coming to an end

Editor’s Note: Steven Kamin is a senior fellow at the American Enterprise Institute (AEI), where he studies international macroeconomic and financial issues. He served as director of the international finance division of the Federal Reserve from 2011 to 2020. The opinions expressed in this commentary are his own. View more opinion on CNN. CNN — … Read more

Hong Kong is criminalizing CBD as a ‘dangerous drug’ alongside heroin

Hong Kong CNN — Two years ago, cannabidiol was booming in Hong Kong. The compound, known as CBD, was popping up in cafes, restaurants and stores, with businesses eager to join an exciting new market already well-established in countries around the world. That all came to an end on Wednesday, when CBD was criminalized in … Read more

Kevin McCarthy and House GOP weigh debt ceiling demands ahead of Biden meeting

CNN — Speaker Kevin McCarthy and his House GOP allies are hashing out their initial demands to raise the national debt limitdiscussing steep cuts to domestic programs and a trim to defense spending – all the while steering clear of two programs to avoid voter blowback: Medicare and Social Security. McCarthy has been hearing suggestions … Read more

Protesters across the US decry police brutality after Tyre Nichols’ death

Editor’s Note: This article contains graphic videos and descriptions of violence. CNN — Protesters once again took to the streets over the weekend to decry police brutality after the release of video depicting the violent Memphis police beating of 29-year-old Tire Nichols, and more gatherings and vigils are planned for Sunday. Nichols could be heard … Read more

Mortgage rates tick down ahead of Fed meeting next week

Washington, DC CNN — Mortgage rates fell slightly this week, staying almost flat ahead of the Federal Reserve’s closely watched interest rate-setting meeting next week. The 30-year fixed-rate mortgage averaged 6.13% in the week ending January 26, down from 6.15% the week before, according to data from Freddie Mac released Thursday. A year ago, the … Read more

The Justice Department was prepared to seek a warrant had Biden not consented to a home search, sources say

CNN — The FBI’s unprecedented search of President Joe Biden’s home in Wilmington, Delaware, resulted from high-stakes discussions between the Justice Department and Biden attorneys over when and how it would take place, sources familiar with the matter tell CNN. Biden’s team stresses that it was cooperative in the lead-up to Friday’s search and even … Read more

Updated Covid-19 boosters continue to offer substantial protection even against the rapidly spreading XBB.1.5 subvariant

CNN — The updated Covid-19 boosters are cutting the risk that a person will get sick from the coronavirus by about half, even against infections caused by the rapidly spreading XBB.1.5 subvariant. New studies, conducted by researchers at the US Centers for Disease Control and Prevention, are among the first looks at how the bivalent … Read more

McCarthy officially denies Schiff and Swalwell seats on the House Intelligence Committee

CNN — House Speaker Kevin McCarthy on Tuesday officially denied Democratic Reps. Adam Schiff and Eric Swalwell sit on the House Intelligence Committee. “I appreciate the loyalty you have to your Democrat colleagues, and I acknowledge your efforts to have two Members of Congress reinstated to the House Permanent Select Committee on Intelligence,” McCarthy wrote … Read more

DOJ sues Google over its dominance in the online advertising market

CNN — The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance in the online advertising market and calling for it to be broken up. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining the suit … Read more

Pandemic unemployment benefits fraud likely tops $60 billing. House GOP to start investigating next week

CNN — More than $60 billion may have been paid out in fraudulent unemployment insurance benefits during the Covid-19 pandemic, according to a report released Monday by the US Government Accountability Office. The watchdog agency, however, warned that the estimate has limitations and should be interpreted with caution. The actual amount of pandemic unemployment benefits … Read more