The New York Federal Reserve Bank said more Americans had their credit applications rejected last month at levels not seen in years. The New York Fed reported on July 16 added that fewer people across the country also sought to borrow. The report was part of the bank’s monthly Survey of Consumer Expectations, which is taken every four…
New York Federal Reserve Reports Surge in Credit Application Rejections
July 19, 2023
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Top Fed Regulator Cautions AI Risks Violating Lending Laws
July 19, 2023
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artificial intelligenceBusiness & MarketseconomyFederal ReserveMarketsMichael S. BarrPolicies & ImpactsUSUS News
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Artificial intelligence could come with both advantages and risks in the financial system, cautions the Federal Reserve’s chief banking regulator. Michael S. Barr, the Fed Vice Chair for Supervision, told the National Fair Housing Alliance 2023 National Conference on July 18 that underserved communities could have greater access to housing because AI technology, such as…
Louisiana Bans Transgender Procedures for Children After Lawmakers Overturn Governor’s Veto
July 18, 2023
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Louisiana will ban certain transgender procedures on people under the age of 18 after lawmakers overturned the governor’s veto of the bill. The Stop Harming Our Kids Act, also known as HB 648 (pdf), was passed by the Republican-controlled state legislature along party lines in early June, but Gov. John Bel Edwards, a Democrat, had vetoed the bill….
Lawmaker Questions Top Official Over Proposed Gas Stove Ban, Cost to Move to Electric
A top Biden administration official behind the Department of Energy’s (DOE) proposed regulatory crackdown on gas stoves while encouraging the adoption of their electric counterparts admitted in Congressional testimony Tuesday that she doesn’t know basic facts about installing electric stoves in homes. Geraldine Richmond, the Department of Energy Under Secretary for Science and Innovation, on…
Biden Official Behind Gas Stove ‘Ban’ Admits Not Knowing Basic Facts About Electric Stove Installation
A top Biden administration official behind the Department of Energy’s (DOE) proposed regulatory crackdown on gas stoves while encouraging the adoption of their electric counterparts admitted in Congressional testimony Tuesday that she doesn’t know basic facts about installing electric stoves in homes. Geraldine Richmond, the Department of Energy Under Secretary for Science and Innovation, on…
SF Walgreens Store Suffers 20 Thefts a Day, Chains Up Freezer Section
SAN FRANCISCO—The Walgreens store at 16th Avenue and Geary Boulevard started using chains and locks in the freezer section to protect food from being stolen. One employee, who chose not to reveal his name, told The Epoch Times the shoplifting happens 15–20 times every day. “This year is the worst,” the senior employee told The…
House GOP Looks to Reform Endangered Species Act
July 18, 2023
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Rolling back the regulatory restraints and costs imposed on industry and agriculture by the Endangered Species Act (ESA) has been among conservative objectives since the 1990s. With the ESA in 2023 marking the 50th year since it was adopted under President Richard Nixon and a GOP-led Congress, a House Republican working group is developing proposed…
Republicans Call Political Foul on Trump Jan. 6 Probe as Democrats Praise Move
July 18, 2023
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Republicans are calling a political foul after President Donald Trump reported that the Department of Justice (DOJ) is probing him as part of its Jan. 6 investigation, while Democrats lauded the move. Mr. Trump said the Sunday letter from special counsel Jack Smith gave him four days to report to a grand jury. In a…
Johnson & Johnson Sues to Block Medicare Drug Price Negotiations
Janssen, the pharmaceutical arm of Johnson & Johnson, filed a lawsuit against the U.S. government on Tuesday, joining others trying to prevent a program that allows Medicare the power to negotiate lower drug prices. The lawsuit, filed in the U.S. District Court for the District of New Jersey, argues that the Medicare drug price negotiation program…
Experts Warn Renewable Energy Creates ‘New Opportunities’ for Chinese Grid Attacks
July 18, 2023
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America’s increasing reliance on intermittent power sources and batteries is creating novel risks, according to grid specialists who testified before Congress on July 18. Many of the greatest among them emanate from a key geopolitical rival, China. That’s partly because the new technologies frequently use inverters. When solar panels, wind turbines, and battery systems generate…
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