#Who To What is Fed Chair Jerome in The Upcom

[inexable]

The Fed's Game-Changer Speech!

Federal Reserve Chair Jerome Powell has just announced a significant shift in economic policy from Jackson Hole, signaling that the long battle with inflation is nearing its end. With inflation now below 3% and unemployment slightly rising from historic lows, the Fed is looking to cut interest rates to help stabilize the job market.

What are your thoughts on this move? Can the lowering of interest rates bolster the economy without leading to negative repercussions? How do you think this decision might influence the upcoming presidential election? Let’s discuss the potential impacts and implications of Powell’s striking new direction!

[orbemnews]

Beware the Fed's asset price 'monsters' “A number of participants suggested that if the economy continued to make rapid progress toward the committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases,” the minutes said. The gentlest of warnings from the central bank helped send stocks to a third straight day of losses. The CNN Business Fear & Greed Index is now solidly in the “fear” zone, a major shift from a month ago when greed dominated. Remember: Ultra low interest rates and massive bond purchases by the Fed have helped accelerate the recovery from the pandemic. But they have also spurred a huge stock market rally, plus spikes in real estate prices and other assets. Now, investors are worried that accelerating inflation will force the central bank to pull back stimulus sooner than anticipated. Fed officials have largely waved off these fears, saying they expect price hikes to be fleeting. “However, a couple of participants commented on the risks of inflation pressures building up to unwelcome levels before they become sufficiently evident to induce a policy reaction,” the meeting minutes stated. Kit Juckes of Societe Generale said investors would be best served for now by paying attention to the Fed’s actions rather than its words. “The [Federal Open Market Committee] members aren’t just talking instead of doing, they’re talking about when they should start talking properly about tapering their asset purchases,” he said in a research note on Thursday. Juckes pointed out that the Bank of Canada has already started tapering its stimulus, and the Reserve Bank of Australia will decide whether to extend its measures in July. China’s central bank is already pulling back. What’s different about the Fed? According to Juckes, the US central bank is treading carefully out of fear. “The Fed is terrified of the asset price monsters that its policies have given birth to,” he said. What’s next: St. Louis Fed President James Bullard said during an interview on Wednesday that it would be Fed chair Jerome Powell’s call when to open the discussion on pulling back stimulus. “I’m advocating that we get more solid evidence that the pandemic is really behind us, and is not going to have a ‘stinger tail’ to it that turns out to be a problem that extends for another six months or something or longer,” he said. “You don’t want to start down a path of changing policy and then have to go back into emergency mode because the pandemic has gone in some direction that you didn’t anticipate,” added Bullard. A painful reality check for bitcoin Bitcoin and other cryptocurrencies endured a vicious sell-off on Wednesday as China took more more steps to crack down on the digital coins. Bitcoin has recovered some lost ground. But the king of cryptocurrencies is still trading below $40,000, roughly 20% lower than where it started the week. Whether that matters depends on your perspective. Investors who bought into bitcoin six years ago are sitting on gains of more than 16,000%. If you only took the plunge six months ago, you’ve still more than doubled your money. But for anyone hoping to use bitcoin as an actual currency, Wednesday’s crash shows the currency remains extremely volatile. That’s not an attribute typically desired in a currency. It’s also a reality check for big investors. Institutional investors have had enough of cryptos for the moment, according to strategists at JPMorgan Chase. “Institutional investors appear to be shifting away from bitcoin and back into traditional gold, reversing the trend of the previous two quarters,” they said in a research note. Of course, we can’t discuss bitcoin without mentioning Elon Musk. In a tweet Wednesday, the Tesla (TSLA) CEO posted a diamond and praise hand emoji — a reference to the term “diamond hands” used by WallStreetBets traders — to indicate that the electric carmaker is holding onto its bitcoin position. Counterpoint: Investors shouldn’t be taking cues from Musk. “Do not pay attention to Elon Musk’s comments about anything in crypto. He knows virtually nothing about cryptocurrencies, that’s the worst thing,” William Quigley, managing director at crypto-focused investment fund Magnetic, said during CNN Business’ digital live show Markets Now. Lipstick sales are up more than 80% Face masks and lockdown orders have kept lips largely out of sight in the pandemic. That hurt lipstick sales last year. But makeup sellers say the fate of the cosmetics staple is starting to turn around as more people get vaccinated and the pace of social interactions picks up, my CNN Business colleague Parija Kavilanz reports. According to the latest figures from market research firm IRI, which tracks point of sale data at retailers, lipstick sales hit $34.2 million in the four weeks ending April 18, up more than 80% from the same period a year earlier. They still fell short of pre-pandemic levels of over $40 million. Walmart (WMT) told CNN Business in an email that lipstick is the top performer across all segments of cosmetics, and that lipstick sales were a standout in its latest quarter ending April 30. The retailer said shoppers were showing a strong preference for longwear and smudge-proof lipsticks that don’t rub off as easily inside of a mask. More recently, Walmart said customers are grabbing bright colors like purples or blues, as well as trendy browns, in what it called an “opportunity for customers to once again express uniqueness.” A change in mask guidance could also work in lipstick makers’ favor. The Centers for Disease Control and Prevention said last week that fully vaccinated people don’t have to wear masks or practice social distancing indoors or outdoors, except in certain settings such as schools. Up next Kohl’s (KSS), Ralph Lauren (RL), Hormel Foods (HRL) and BJ’s Wholesale (BJ) report results before US markets open. Applied Materials (AMAT) and Ross Stores (ROST) are up after the close. Also today: US jobless claims at 8:30 a.m. ET. Coming tomorrow: Earnings from Deere (DE) and Foot Locker (FL). Plus, existing home sales for April. Source link Orbem News #Asset #BEWARE #Feds #investing #Monsters #Premarketstocks:BewaretheFed'sassetprice'monsters'-CNN #price

[joshuajacksonlyblog]

Anti-Crypto Bank Wells Fargo Wants its $384B Lending Power Back

US banking giant Wells Fargo has the capacity to provide about $384 billion of additional loans to small and medium-sized businesses (SMEs) and individuals, which is especially relevant during the corona crisis. However, the bank can’t help customers because of the asset cap imposed by the Federal Reserve (Fed). Wells Fargo Asks Fed to Remove the Cap The US has reported the most cases of coronavirus, and it seems the economic crisis is about to get even worse. President Donald Trump warned of the upcoming “very painful weeks,” while JPMorgan told investors that the stock market hasn’t bottomed out yet. In light of this, Wells Fargo could potentially help customers through its loans. However, it cannot unleash the funds because the Fed had previously imposed an asset cap. Specifically, the central bank mandated Wells Fargo to keep its assets below $1.95 trillion. The Fed’s decision came in response to the bank’s fake account scandal. For years, Wells Fargo abused its clients by creating fake accounts on behalf of customers and forging documents. Last week, the bank asked the Fed to remove the cap at least temporarily and let it support people and businesses during the crisis. People familiar with the matter told Bloomberg that the Fed didn’t feel Wells Fargo was ready. While the bank hired a new CEO last year and announced massive restructuring, the Fed officials are skeptical about its potential to address regulatory concerns. Wells Fargo didn’t clarify on the matter, but said in a statement: While we cannot comment on regulatory matters, Wells Fargo is focused on satisfying the requirements of the consent order. During these challenging times, we are very focused on doing all we can for our clients while operating under the constraints of the asset cap. The Fed’s skepticism shows how much in trouble the bank really is. The central bank has been calling major banks to boost lending at the expense of whatever excess cash they have in an effort to support the economy amid the crisis. Together, the biggest banks have enough capital to increase lending by $1.6 trillion. We May Know Fed’s Position in Coming Days The Fed imposed the cap in February 2018. At the end of 2019, Wells Fargo had only $24 billion free room to that level. Given that deposits are flowing in, the company has probably reached that limit and cannot lend any more. Ironically, Wells Fargo has the most firepower among biggest US banks. The problem is that it cannot use the capital because of the Fed’s limit. In any case, this is a difficult situation for the Fed, who has to maintain its role as a strict regulator of biggest banks on the one hand and boost liquidity amid the crisis on the other hand. Despite the economic collapse, the central bank doesn’t want to let Wells Fargo escape the sanction. However, the Fed hasn’t provided any official comment yet. We may find more details about the situation in the coming days. Last Saturday, Maxine Waters, the head of the House Financial Services Committee, asked Fed Chair Jerome Powell to disclose more information on Wells Fargo’s request and what the central bank might be up to. Waters expects a briefing later this month. Wells Fargo’s current CEO, Charlie Scharf, succeeds two previous CEOs who tried to fix the scandal but left the bank in a worse situation by frustrating regulators. Politicians and regulators accused the bank of failing to act promptly. Scharf is the first outsider among recent CEOs. He has taken even more radical measures to restructure the bank. Nevertheless, Wells Fargo was the bank that last year prevented its customers from purchasing cryptocurrency with their own funds, citing “multiple risks associated with this volatile investment”. And now they are the bank with a forced asset cap due to mismanaging its 401k plan investments. Do you think the Fed will allow Wells Fargo to lend using the excess funds? Share your thoughts in the comments section! Image via Shutterstock from Cryptocracken Tumblr https://ift.tt/344vrQh via IFTTT

[brettzjacksonblog]

Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto?

The bitcoin price rally this week hit a snag as the world’s most powerful banker publicized his views on the Facebook’s upcoming cryptocurrency project.

The BTC/USD instrument plunged by up to 15.43 percent to settle a session low of $11,169.36 on San Francisco-based Coinbase exchange. The move downside took place after the Federal Reserve Chairman Jerome Powell expressed ‘serious concerns’ about Facebook’s cryptocurrency, Libra. The banker said the social media giant’s project raises issues regarding “privacy, money laundering, consumer protection, and financial stability.”

“These are concerns that should be thoroughly and publicly addressed,” he added.

The comments reportedly spooked bitcoin investors at a time when the cryptocurrency was hinting to retest its year-to-date high of $13,868.44. A string of large sell orders seen across the leading cryptocurrency exchanges brought bitcoin down from $13,202.63 session top to $11,620 within just six hours of trading.

Bitcoin Price has Plunged 11.28% in the Last 24 Hours | Image Credits: TradingView.com, Coinbase

Libra Influencing Bitcoin Trends

Facebook’s Libra presented a bullish case for bitcoin. Its introduction in June assisted the world’s first decentralized cryptocurrency rise by as much as 75 percent. Billionaire investor Mike Novogratz believed that Facebook’s foray into the cryptocurrency space validated bitcoin’s long-term potential as an asset, especially before institutional investors. The Galaxy Digital founder told CNBC Squawk Box:

“One of the largest companies in the world said we believe in cryptocurrencies. If you’re an institutional investor who’s getting close and still worried about investing, it makes you that much more confident.”

Nevertheless, the possibility of looking at an untampered Facebook cryptocurrency dropped following the concerns shared by many governments and regulators across the world. A minister in France accused Libra of attempting to replace sovereign currencies. US lawmakers went ahead and asked the Libra team to halt their development. China and India, two of the world’s largest remittance beneficiaries, also refused to include the Facebook cryptocurrency into their existing financial systems.

“People valuing Libra is inseparable from the global dollarization trend, and maintaining a strong monetary status may put China in a favorable position. China should take precautions and undertake policy research,” said Xiaochuan Zhou, former governor of People’s Bank of China.

1/ Xiaochuan Zhou, former governor of PBoC: Libra reprensents the trend of digital currencies, China should take precautions. Zhou was the PBoC governor during 2013 to 2018, when the famous Chinese bitcoin exchange crackdown and ICO ban were conducted. pic.twitter.com/XAyHgVwRsY

— cnLedger (@cnLedger) July 10, 2019

Idiosyncratic Factors

Many believe bitcoin is due for a further drop but not because of panic-selling. To bulls, the cryptocurrency remains in a strong uptrend, and sharp interim corrections are only a reminder of it. Josh Rager, one of the most followed cryptocurrency analyst, tweeted on Sunday that every upside move of bitcoin meets a sharp pullback. The price then consolidates in a range for two to three weeks before continuing to the upwards.

Bitcoin Pullbacks During an Uptrend Scenario | Image Credits: Josh Rager

“Don’t take this chart too seriously,” Rager added, “as no one can predict price action, but Bitcoin likely ranges here. Total guess if BTC continues uptrend to new ATH afterward.”

Novogratz also commented that he expects bitcoin price to consolidate in a wide range of $10,000 and $14,000 before moving upward. He noted that there are factors other than Libra that could drive the cryptocurrency’s price higher. One of them is capital control in China.

“A huge amount of the volumes of what’s going on in bitcoin and other currencies is coming out of Asia,” he explained.

The post Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto? appeared first on NewsBTC.

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[michaelbennettcrypto]

Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto?

The bitcoin price rally this week hit a snag as the world’s most powerful banker publicized his views on the Facebook’s upcoming cryptocurrency project.

The BTC/USD instrument plunged by up to 15.43 percent to settle a session low of $11,169.36 on San Francisco-based Coinbase exchange. The move downside took place after the Federal Reserve Chairman Jerome Powell expressed ‘serious concerns’ about Facebook’s cryptocurrency, Libra. The banker said the social media giant’s project raises issues regarding “privacy, money laundering, consumer protection, and financial stability.”

“These are concerns that should be thoroughly and publicly addressed,” he added.

The comments reportedly spooked bitcoin investors at a time when the cryptocurrency was hinting to retest its year-to-date high of $13,868.44. A string of large sell orders seen across the leading cryptocurrency exchanges brought bitcoin down from $13,202.63 session top to $11,620 within just six hours of trading.

Bitcoin Price has Plunged 11.28% in the Last 24 Hours | Image Credits: TradingView.com, Coinbase

Libra Influencing Bitcoin Trends

Facebook’s Libra presented a bullish case for bitcoin. Its introduction in June assisted the world’s first decentralized cryptocurrency rise by as much as 75 percent. Billionaire investor Mike Novogratz believed that Facebook’s foray into the cryptocurrency space validated bitcoin’s long-term potential as an asset, especially before institutional investors. The Galaxy Digital founder told CNBC Squawk Box:

“One of the largest companies in the world said we believe in cryptocurrencies. If you’re an institutional investor who’s getting close and still worried about investing, it makes you that much more confident.”

Nevertheless, the possibility of looking at an untampered Facebook cryptocurrency dropped following the concerns shared by many governments and regulators across the world. A minister in France accused Libra of attempting to replace sovereign currencies. US lawmakers went ahead and asked the Libra team to halt their development. China and India, two of the world’s largest remittance beneficiaries, also refused to include the Facebook cryptocurrency into their existing financial systems.

“People valuing Libra is inseparable from the global dollarization trend, and maintaining a strong monetary status may put China in a favorable position. China should take precautions and undertake policy research,” said Xiaochuan Zhou, former governor of People’s Bank of China.

1/ Xiaochuan Zhou, former governor of PBoC: Libra reprensents the trend of digital currencies, China should take precautions. Zhou was the PBoC governor during 2013 to 2018, when the famous Chinese bitcoin exchange crackdown and ICO ban were conducted. pic.twitter.com/XAyHgVwRsY

— cnLedger (@cnLedger) July 10, 2019

Idiosyncratic Factors

Many believe bitcoin is due for a further drop but not because of panic-selling. To bulls, the cryptocurrency remains in a strong uptrend, and sharp interim corrections are only a reminder of it. Josh Rager, one of the most followed cryptocurrency analyst, tweeted on Sunday that every upside move of bitcoin meets a sharp pullback. The price then consolidates in a range for two to three weeks before continuing to the upwards.

Bitcoin Pullbacks During an Uptrend Scenario | Image Credits: Josh Rager

“Don’t take this chart too seriously,” Rager added, “as no one can predict price action, but Bitcoin likely ranges here. Total guess if BTC continues uptrend to new ATH afterward.”

Novogratz also commented that he expects bitcoin price to consolidate in a wide range of $10,000 and $14,000 before moving upward. He noted that there are factors other than Libra that could drive the cryptocurrency’s price higher. One of them is capital control in China.

“A huge amount of the volumes of what’s going on in bitcoin and other currencies is coming out of Asia,” he explained.

The post Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto? appeared first on NewsBTC.

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[kiwitrader24]

The Fed Meeting We Trade Around - A Quick Guide

The Fed is short for The Federal Reserve System, consisting of the Board of Governors and the 12 Federal Reserve Banks

What we trade around are the 8 scheduled meetings of the Federal Open Market Committee (FOMC),  which is the policy making branch of the Federal Reserve system. The FOMC consists of 7 governors, one of which is the Chairperson and another is the Vice Chairperson. You will hear this committee & meeting referred to in the media and on Twitter as The Fed, The Fed Meeting and the FOMC.

Here is a great link to a more detailed, but easy to understand & quick read explaining he history of the Fed, it’s makeup and it’s duties:

https://www.investopedia.com/university/thefed/fed1.asp

What matters to us as traders during the FOMC:

The FOMC meets 8 times per year, but can meet at anytime necessary to address issues in the system. That means, the Fed can meet anytime with no warning and raise or lower interest rates or adjust policy. But for the most part, we anticipate these 8 regularly scheduled meetings.

In the 13 years I have been trading on a full-time basis (an investor for 27 years, but trading full-time is different from investing) only in an emergency like we witnessed in 2008 or if there is a small and inconsequential piece of business to address, have I ever seen the Fed meet other than on the regularly scheduled dates. The Fed has become so transparent, it is virtually impossible for them to surprise markets, the way Paul Volker did in the 1970′s. 

Of the 8 meetings that are regularly scheduled, 4 are followed by a press conference given by the Fed Chairperson (right now that is Jerome Powell).

Fed meetings are always scheduled over 2 days, with the 2nd day concluding on a Wed and the Fed Statement on policy is released at 2:00 p.m. ET. Very rarely does this schedule ever change, one time in 13 years have I seen this schedule change. In December of 2017,  the Fed meeting chaired by Janet Yellen, was on Wed-Thurs with statement released on Thurs 12.14.17.

The Fed Statement accompanies the Fed Decision on interest rates (whether they raise, lower or make no change). The statement is what moves markets more so than the decision which is anticipated by the market and rarely a surprise. The statement is scrutinized and scoured for nuance in language and the market trades based on what it perceives as positive or negative messages it gleans from the language in the statement. A trader should always know when the regularly scheduled Fed meeting is and should anticipate how it may affect their positions. Many professionals on Twitter claim they take the day off. I bet they also claim to never slow down on the highway to look at an accident either. IF you “take the day off,” that means you are FLAT or hold no risk of consequence that can damage your trading base. 

Here is a link to the schedule of the meetings and the ones with a press conference are followed by an asterisk:

https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

The Fed minutes are released 3 weeks from the date of the statement, also on a Wed. at 2:00 p.m. ET. 

The Fed minutes gives the market a look inside the meeting for more details to who votes which way, if they are leaning towards changing language, and if members are working with a unified opinion on policy. Even though in the statement we are informed of who voted which way, this gives the market greater details. That is why days the Fed Minutes are to be released can often be as volatile as the day of the statement. These are not necessarily  days to take off, but see the comments below for tips on how to prepared for them.

What I like to do as a trader going into the Fed/FOMC/Minutes:

Since I trade mostly SPX I refer to that here. But if you trade another index or individual names that often move on the Fed (like banks and homebuilders), the same things apply…

Look at the way SPX traded during the last meeting, note actual levels the index was traded at, sometimes they revisit

Look at how many points in total SPX moved on the day of the last statement and anticipate a similar move for the upcoming one 

Look back to where the SPX was trading when the statement came out, and use that to compare on the days the minutes are released

Anticipate if levels the market traded on the day of the statement will be traded again on the day of the minutes Mark your calendar and set a reminder mid-week before the STATEMENT and the MINUTES to anticipate the calls or puts you buy for the following week’s expiration 

Fed Drift

This is a phenomenon where the market drifts higher on the 1st day of the meeting (Tues) as the market anticipates the decision and statement. There can be many explanations for this. The easiest one, is that shorts simple cover ahead of the event. A more sinister explanation is distribution by Funds that are off loading excess supply by driving up the market by way of the Futures and tricking people into FOMO along with forcing shorts to cover. Then they take the high and juicy short entry to play after the release of the statement. Whatever the explanation, watch for Fed Drift on Tues ahead of the Wed release  of the Fed (or FOMC) statement. There is not usually Fed Drift ahead of the minutes, but it never hurts to be prepared. Here’s hoping this gave you some actionable ideas to help be prepared for what the market does around the time of the FOMC.

[fullspectrum-cbd-oil]

Fed’s Powell Says Virus to Dictate When U.S. Economy Reopens

U.S. Federal Reserve Chair Jerome Powell told Americans on Thursday progress in controlling the spread of the coronavirus would determine when the economy reopens but assured them the Fed was taking every action to support a vigorous rebound when it comes.

In a rare network television interview on NBC’s Today Show, Powell said the United States ‘may well be in recession’ but that confidence would return once the virus was under control.

Powell spoke just about an hour before federal data showed a record-breaking spike of unemployment claims to 3.28 million, evidence that “social distancing” to fight the pandemic has taken hold, but may also have ended the country’s more than decade-long economic expansion.

His choice of venue – a network morning show when many Americans are homebound and paying close attention – was itself part of a message that seemed meant to prepare people for the dismal economic data to come, counsel patience in any rush back to work, and reassure that the Fed would act “aggressively” to keep firms and families afloat.

“We are not experts in pandemic… We would tend to listen to the experts. Dr. Fauci said something like the virus is going to set the timetable, and that sounds right to me,” Powell said, in reference to Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases who is on the White House’s coronavirus task force.

“The first order of business will be to get the spread of the virus under control and then resume economic activity.”

The U.S. central bank chief’s remarks are a contrast to the urging by some of President Donald Trump’s advisers for a faster reopening. The president himself has said he wants the economy to be “roaring” by Easter, in a little over two weeks.

The Fed officials who have spoken to the issue, now including Powell, have taken a more somber approach, focusing on the need to first control the virus, then restore confidence among workers and consumers that it is safe to go back to business.

ENFORCING THE MESSAGE

Powell used the television appearance, outside the confines of the news shows or economic conferences where Fed chairs typically appear, to enforce that message and take what for a central banker is the unusual step of acknowledging the economy may be contracting even before economic data fully confirms it.

As a rule of thumb, a recession is a period when the economy’s overall level of output, or gross domestic product, contracts for two consecutive three-month quarters. However the definition used by the National Bureau of Economic Research’s Business Cycle Dating Committee, the group that determines when such periods begin and end, is far more flexible – and even a sharp downturn over a month or two may not qualify if the rebound is quick and sustained.

Equity markets have rallied in recent days as a mammoth program of economic aid has moved through Congress, with more than $2 trillion rolled out in payments to families and help for companies.

Still the current situation is so unusual Fed policymakers have become atypically blunt. As with the unemployment claims, upcoming reports are expected to show such large jumps in joblessness and lost output that their focus has shifted from downplaying the depth of the problem and toward ensuring businesses and households get through the period with their finances intact.

A deliberate choice to close stores in the name of public health, Powell said, “is not a typical downturn…There is nothing fundamentally wrong with our economy.”

Indeed the aim of the trillions of dollars in lending and bond purchases the Fed has authorized over the past two weeks is precisely to let an otherwise healthy economy pause long enough to keep people safe, Powell said, before what could be a strong rebound later in the year.

He said the central bank would lend “aggressively” to ensure that happens, with an expected commitment of more than $440 billion from the U.S. Treasury allowing the Fed to unleash perhaps $4 trillion for credit to “Main Street.”

“The sooner we get through this period and get the virus under control, the sooner the recovery can come…We know that economic activity will decline probably substantially in the second quarter but I think many expect and I would expect economic activity to resume and move back up in the second half of the year,” Powell said.

(Reporting by Howard Schneider, Editing by Chizu Nomiyama and Andrea Ricci)

from IJR https://ift.tt/2WMCgoi via IFTTT

[joshuajacksonlyblog]

Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto?

The bitcoin price rally this week hit a snag as the world’s most powerful banker publicized his views on the Facebook’s upcoming cryptocurrency project.

The BTC/USD instrument plunged by up to 15.43 percent to settle a session low of $11,169.36 on San Francisco-based Coinbase exchange. The move downside took place after the Federal Reserve Chairman Jerome Powell expressed ‘serious concerns’ about Facebook’s cryptocurrency, Libra. The banker said the social media giant’s project raises issues regarding “privacy, money laundering, consumer protection, and financial stability.”

“These are concerns that should be thoroughly and publicly addressed,” he added.

The comments reportedly spooked bitcoin investors at a time when the cryptocurrency was hinting to retest its year-to-date high of $13,868.44. A string of large sell orders seen across the leading cryptocurrency exchanges brought bitcoin down from $13,202.63 session top to $11,620 within just six hours of trading.

Bitcoin Price has Plunged 11.28% in the Last 24 Hours | Image Credits: TradingView.com, Coinbase

Libra Influencing Bitcoin Trends

Facebook’s Libra presented a bullish case for bitcoin. Its introduction in June assisted the world’s first decentralized cryptocurrency rise by as much as 75 percent. Billionaire investor Mike Novogratz believed that Facebook’s foray into the cryptocurrency space validated bitcoin’s long-term potential as an asset, especially before institutional investors. The Galaxy Digital founder told CNBC Squawk Box:

“One of the largest companies in the world said we believe in cryptocurrencies. If you’re an institutional investor who’s getting close and still worried about investing, it makes you that much more confident.”

Nevertheless, the possibility of looking at an untampered Facebook cryptocurrency dropped following the concerns shared by many governments and regulators across the world. A minister in France accused Libra of attempting to replace sovereign currencies. US lawmakers went ahead and asked the Libra team to halt their development. China and India, two of the world’s largest remittance beneficiaries, also refused to include the Facebook cryptocurrency into their existing financial systems.

“People valuing Libra is inseparable from the global dollarization trend, and maintaining a strong monetary status may put China in a favorable position. China should take precautions and undertake policy research,” said Xiaochuan Zhou, former governor of People’s Bank of China.

1/ Xiaochuan Zhou, former governor of PBoC: Libra reprensents the trend of digital currencies, China should take precautions. Zhou was the PBoC governor during 2013 to 2018, when the famous Chinese bitcoin exchange crackdown and ICO ban were conducted. pic.twitter.com/XAyHgVwRsY

— cnLedger (@cnLedger) July 10, 2019

Idiosyncratic Factors

Many believe bitcoin is due for a further drop but not because of panic-selling. To bulls, the cryptocurrency remains in a strong uptrend, and sharp interim corrections are only a reminder of it. Josh Rager, one of the most followed cryptocurrency analyst, tweeted on Sunday that every upside move of bitcoin meets a sharp pullback. The price then consolidates in a range for two to three weeks before continuing to the upwards.

Bitcoin Pullbacks During an Uptrend Scenario | Image Credits: Josh Rager

“Don’t take this chart too seriously,” Rager added, “as no one can predict price action, but Bitcoin likely ranges here. Total guess if BTC continues uptrend to new ATH afterward.”

Novogratz also commented that he expects bitcoin price to consolidate in a wide range of $10,000 and $14,000 before moving upward. He noted that there are factors other than Libra that could drive the cryptocurrency’s price higher. One of them is capital control in China.

“A huge amount of the volumes of what’s going on in bitcoin and other currencies is coming out of Asia,” he explained.

The post Is Bitcoin Down 15% Due to Fed Chair’s Criticism of Facebook’s Crypto? appeared first on NewsBTC.

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[bharatiyamedia-blog]

Wayfair Staff Threaten Walkout Over Migrant Detention Heart Gross sales

http://tinyurl.com/y4lv7wce Staff at Wayfair are threatening a Wednesday walkout after the house items firm declined to finish mattress gross sales to federally-contracted amenities holding detained immigrants. Greater than 500 staff within the firm’s Boston workplace signed a letter protesting the achievement of a furnishings order from BCFS, a authorities contractor in Texas. The inner battle is simply the newest in a rising development of public executive-employee rifts generated by the elevated politicization of immigration and remedy of immigrant detainees alongside the southern border. In June 2018, teams of staff at Microsoft, Salesforce, and Amazon all went public with petitions imploring the respective CEOs to tear up contracts with numerous regulation enforcement businesses. In keeping with the worker letter to Wayfair administration, which has been posted to social media, the workers drafted the petition after studying of a BCFS order final week. “This specific order, for over $200,000 price of bed room furnishings, is destined for Carrizo Springs, Texas, to a facility that can be outfitted to detain as much as 3,000 migrant kids searching for authorized asylum in the USA,” stated the letter to the corporate’s administration group, together with cofounders Niraj Shah and Steve Conine. “The follow of detaining kids and adults at our Southern border has been condemned since its inception however for the reason that acceleration of the follow in 2018, and the rise in loss of life and damage that has include that acceleration, now we have seen extra vocal condemnation of the follow. We, the undersigned, are writing to you from a spot of concern and anger concerning the atrocities being dedicated at our Southern border.” The letter asks the corporate to finish gross sales with border camp contractors along with establishing a proper code of ethics for future business-to-business relationships. “We consider that the present actions of the USA and their contractors on the Southern border don’t symbolize an moral enterprise partnership Wayfair ought to select to be part of,” the letter acknowledged. “At Wayfair, we consider that ‘everybody ought to reside in a house that they love.’ Let’s keep true to that message by taking a stand in opposition to the reprehensible follow of separating households, which denies them any residence in any respect.” In keeping with the protesting group of staff, Wayfair administration responded with an unsigned letter defending its place as “respecting variety of thought inside our group and throughout our buyer base.” “As a retailer, it’s commonplace follow to meet orders for all prospects and we consider it’s our enterprise to promote to any buyer who’s appearing throughout the legal guidelines of the nations inside which we function,” the response letter acknowledged. “… It’s our hope that Wayfair’s continued success will allow all of us as people to pursue our passions and advance the causes we consider in. We’re already seeing a lot of this by way of the continued philanthropic work and donations pushed by many people at Wayfair.” Wayfair didn’t instantly reply to a request for additional remark. A Twitter account selling the protest, @wayfairwalkout, was subsequently arrange and had grown to six,000 followers by four p.m. Tuesday, A put up on the account says the walkout is scheduled for 1:30 p.m. EST on the Wayfair company headquarters within the Again Bay space of Boston.   Along with asserting the walkout, the workers have requested the corporate to donate the entire proceeds from the BCFS sale to the Refugee and Immigrant Heart for Training and Authorized Providers (RAICES), a non-profit group offering immigrant authorized providers. Some Wayfair prospects backing the workers’ stand have begun venting on social media. Final 12 months, greater than 400 Microsoft staff signed a petition demanding termination of a contract with ICE, greater than 650 Salesforce staff challenged the corporate’s settlement with CBP, and Amazon staff criticized work being carried out to offer regulation enforcement businesses with new facial recognition expertise. So far, not one of the firms have determined to alter course regardless of the general public worker protests. Extra must-read tales from Fortune: —Trump’s MAGA rallies cost big bucks—and cities foot the payments —Black women voters can be central to the 2020 election, specialists predict —Can Trump fireplace Fed Chair Jerome Powell? What history tells us —Alexandria Ocasio-Cortez’s message for democrats after “boy bye” tweet —What you’ll want to know concerning the upcoming 2020 primary debates Rise up to hurry in your morning commute with Fortune’s CEO Daily publication.     Source link

[tortuga-aak]

The next Fed chair could take a small policy step that would make a huge difference

  President Donald Trump's nominee for Fed chair, Jerome Powell, should hold press conferences at every meeting. 

This would increase transparency and public trust, and bolster policy communication.

The Fed will eventually need to take action in 'off' meetings, so the time to prepare itself and the markets is now. 

  Here’s a simple but powerful way for Jerome Powell, President Donald Trump’s nominee to replace Janet Yellen as Federal Reserve chair, to make a positive impact early in his tenure: Start holding press conferences at every one of the Fed’s eight meetings each year.

Currently, and only since 2011, the Fed chair takes questions from reporters just four times per year, during the quarterly meetings when the Fed presents its updated economic and interest rate forecasts.

This meeting-on-meeting-off arrangement has caused investors to effectively overlook non-press conference meetings, despite assurances from Yellen and other Fed officials that "every meeting is live" and could have a change in monetary policy, and that the Fed chair could always hold an impromptu press call with reporters.

In practice, the mere attempt to organize a press conference or call on an ad hoc basis would likely create speculation about a major impending move, thwarting the Fed’s goal of communicating policy clearly and effectively to the public and to financial markets.

Also in practice: Neither Yellen nor her predecessor Ben Bernanke have ever taken big policy steps, or even small ones, at non-press conference meetings. Powell may not have the same luxury — at some point the Fed may not be able to skip meetings before taking policy action. 

Holding press conferences every meeting would not only make policy easier to conduct, but would also be better for transparency in general. Conferences at every meeting would maximize the amount of information about Fed deliberations made public immediately after the meetings, as opposed to three weeks later when the Fed publishes meeting minutes. That three week lag has previously led to leaks of highly-sensitive information, including one that led a top Fed official to resign in April. 

This is a moment where the Fed may have some big decisions to make. The Fed has raised rates four times since Dec. 2015 to a range of 1% to 1.25%, and is still debating whether to hike borrowing costs further at its upcoming meeting next month. The central bank has also begun gradually winding down a $4.5 trillion balance sheet that swelled with the purchase of Treasury bonds and mortgage-backed securities in response to the Great Recession of 2007-2009 and its aftermath.

Powell, who is expected to be confirmed by the Senate without a hitch, will inherit an institution that faces sharp political scrutiny and public skepticism, nearly a decade after a financial crisis caused in part by lax oversight from regulators including the Fed.

A strong public presence such as that afforded by regular press briefings can help to counter those political pressures and the Fed’s negative public image of favoring Wall Street over Main Street. 

It's also not a departure from global norms. Both Mario Draghi and Mark Carney, heads of the European Central Bank and the Bank of England respectively, make post-meeting press conferences a regular practice. 

"A potentially important area of change under a Powell-led Fed is in communication policy," Deutsche Bank economists Peter Hooper and Matthew Luzzetti wrote in a research note to clients.

"We would not be surprised to see Powell support a move to more press conferences, one after each meeting, under his chairmanship," they added.

Let’s hope Powell gives it a shot. He's got little to lose, while the American public — and the Fed itself — have much to gain. 

NOW WATCH: This is what separates the Excel masters from the wannabes

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[anthonycharlestabone]

Having trouble viewing? View in Browser Thursday, November 2, 2017 Welcome to Fox News First. Not signed up yet? Click here.   Developing now, Thursday, Nov. 2, 2017: Trump says New York terror suspect should get death penalty, wants diversity visa program ended House Republicans to roll out tax reform plan Trump to nominate pick to succeed Fed boss Yellen Tucker Carlson Exclusive: New details on Podesta Group's ties to Russia Houston Astros win World Series, defeating L.A. Dodgers in Game 7 TUNE IN: Don't miss Laura Ingraham's exclusive interview with President Trump on "The Ingraham Angle" tonight at 9 ET. The commander-in-chief addresses the New York terror attack, diversity visa program, Mueller indictment, tax reform, his upcoming trip to Asia and so much more! THE LEAD STORY: Tuesday's terror attack in New York City has renewed calls for comprehensive immigration reform as President Trump vowed to end the federal program that allowed a suspect from Uzbekistan into the United States ... Trump on Wednesday promised to end the State Department's Diversity Immigrant Visa Program, which is how suspect Sayfullo Saipov came into the United States in 2010. Under the program, a maximum of 50,000 people are allowed into the U.S. every year in a "lottery system" that tilts toward "countries with historically low rates of immigration." Trump has called for a "merit-based" system. Saipov, 29, was charged with several acts of terrorism after driving a rented pickup truck into pedestrians on a bike path along Manhattan's West Side Highway on Tuesday, killing eight people and injuring 12. Trump said Saipov should get the death penalty.  Prosecutors say NYC terror attack suspect 'consumed by hate,' asked for ISIS flag Diversity visa program: What you need to know Howard Kurtz: Trump vs. Schumer: A troubling detour into politics after NY terror attack Remembering the NYC terror attack victims TAX REFORM ROLLOUT: House Republicans are expected to release their much-anticipated tax bill today after a one-day delay ...  Republicans, who control both chambers of Congress, are looking to tax reform for their first legislative victory since Trump took office in January. Democrats say the Trump tax plan is a giveaway to corporations and the rich. Two sources said the bill, which had been expected Wednesday, was delayed to give lawmakers additional time to address differences over the tax treatment of retirement savings accounts and a deduction for state and local tax payments. Trump's tax bill: Unknown details that could affect you TRUMP'S PICK FOR NEXT FEDERAL RESERVE CHAIR: The president said he'll announce his nominee to succeed Fed boss Janet Yellen this afternoon ... "I think you will be extremely impressed by this person," Trump told reporters before a Cabinet meeting Wednesday. Trump's leading choice is said to be Jerome "Jay" Powell, who until recently was the only Republican on the Fed board. Jerome Powell is 'Janet Yellen with a tie': Former Reagan budget director  TUCKER CARLSON EXCLUSIVE: Citing unnamed sources, Tucker Carlson reported on his show Wednesday that the Podesta group, run by Clinton allies John and Tony Podesta, lobbied several members of Congress on behalf of pro-Russia agents ... Tony Podesta, a source told Carlson, set up several meetings between pro-Russian Ukrainians and then-Senate Foreign Relations Committee Chairman Bob Menendez, who is on trial for bribery. The Podesta group consistently arranged meetings between American lawmakers and pro-Russian officials seeking influence in Washington. Carlson's report came days after he said he received a "snarling legal threat" from a lawyer for Tony Podesta over his reporting that Podesta, his brother and Paul Manafort were the "central figures" in the federal investigation led by Special Counsel Robert Mueller. Judge Andrew Napolitano: Mueller's ultimate target is Trump. Here's what could happen next ASTROS ARE CHAMPS:  The Houston Astros have won baseball’s World Series, defeating the Los Angeles Dodgers  5-1 in Game 7 on Wednesday night ... It was the first World Series title for a franchise that started in 1962 as the Houston Colt .45s of the National League. The team became the Astros a few years later when it moved into the Astrodome, and then joined the American League in 2013. Houston’s George Springer was named MVP, smacking five home runs during the Series.   AS SEEN ON FOX NEWS RARE INTERVIEW WITH JUSTICE THOMAS: "I think we're getting quite comfortable in our society limiting ideas and exposure to ideas. And maybe that's a symptom of it. I don't know." – Associate Supreme Court Justice Clarence Thomas on "The Ingraham Angle," reflecting on the wave of Confederate monuments and statues being torn down across the country. WATCH NEW YORK STRONG: "New York City was strong and solid and impressive. This city does not bend, not to anyone." – Shepard Smith, saluting New York spirit and resilience, following Tuesday's terror attack. WATCH   ACROSS THE NATION 3 dead, manhunt for suspect in Colorado Walmart shooting. Michelle Obama says men are 'entitled,' 'self-righteous' because women protect them too much. NBC story on 'backlash' against 'American Muslims' stirs outrage.   MINDING YOUR BUSINESS A bear market that will 'make its mark' looms ahead: Economist Robert Prechter. Papa John's blames NFL for sales decline, rips 'poor leadership.' Apple market value: We may need a bigger chart.   NEW IN FOX NEWS OPINION Ed Rollins: Get used to conservative outsiders, America. Seven House Representatives: Opioid addiction and abuse is not partisan, it's about saving lives. Tammy Bruce: Kevin Spacey scandal just another Hollywood case of 'everyone knows.'   HOLLYWOOD SQUARED Playboy movie with Brett Ratner put 'on hold' following sexual assault claims. House of Cards sent sexual harassment memo to staff weeks before Spacey allegations. Chuck Norris sues claiming MRI chemical poisoned his wife.    DID YOU HEAR ABOUT THIS? Iceland's biggest 'doomsday volcano' could soon erupt, wreaking mass chaos on travelers. Student sues government after school forced her to dye her hair black, she claims. Baby named Frankenstein born on Halloween.   STAY TUNED On Fox News: Fox & Friends, 6 a.m. ET: We'll have the latest on the New York City terror attack and the debate over immigration it has sparked. Guests will include: former Boston Police Department commissioner Ed Davis, NRA spokeswoman Dana Loesch and Judge Andrew Napolitano. Plus, House Majority Whip Steve Scalise talks tax reform and former special prosecutor Ken Starr gives his perspective on the Robert Mueller investigation. Your World with Neil Cavuto, 4 p.m. ET: House Ways and Means Chairman Kevin Brady will join Neil for his first interview following the release of the tax reform bill. TRUMP’S ASIA TRIP: The Story with Martha MacCallum, 7 p.m. ET: Martha will be live in Hawaii with a preview and analysis of the president’s trip. The Ingraham Angle, 10 p.m. ET: Don't miss Laura's exclusive interview President Trump before he jets across the Pacific. On Fox Business: Mornings with Maria, 6 a.m. ET: House Republicans' tax reform bill rollout and Trump's nominee to head the Federal Reserve will be the hot topics of the day. Guests include: Dennis Muilenburg, Boeing; CEO Douglas Holtz-Eakin, former Congressional Budget Office director; Reggie Fils-Aime, Nintendo president and Rep. Roger Williams, Financial Services Committee. Varney & Co., 9 a.m. ET: House Budget Committee Chair Diane Black previews the release of the tax reform bill On Fox News Radio: The Brian Kilmeade Show, 9 a.m. to Noon ET: Don't miss Brian's exclusive interview with Vice President Mike Pence on the New York terror attack, tax reform, President Trump's trip to Asia and more. CHECK IT OUT  - Fox News Radio has launched The Fox News Rundown! This daily long-form podcast goes beyond the headlines and features insights from top newsmakers, reporters and contributors from across all Fox News Channel platforms. All episodes can be found at: www.foxnewsrundown.com.  Want it sent straight to your mobile device? Subscribe through Apple Podcasts, Google Play, and Stitcher.   #OnThisDay 2000: American astronaut Bill Shepherd and Russian cosmonauts Yuri Gidzenko and Sergei Krikalev become the first residents of the International Space Station. 1976: Jimmy Carter is elected president, defeating incumbent President Gerald Ford. 1948: President Harry S. Truman surprises the experts by winning a narrow victory over Republican challenger Thomas E. Dewey -- leading to the infamous “Dewey Defeats Truman” headline error in the Chicago Daily Tribune.   Thank you for joining us on Fox News First! Enjoy your day and we'll see you in your inbox first thing Friday morning. Unsubscribe | Contact Us ©2017 Fox News Network, LLC. All Rights Reserved. 1211 Avenue of the Americas, New York, NY, 10036. Privacy Policy.

[joshuajacksonlyblog]

The King is a Fink

It’s true, I’ve always enjoyed reading the paper. When I was younger I used to track the price of gold daily in my grandfather’s copy of the Wall Street Journal. Before that though, I was drawn to the funnies.

The Wizard of ID is a classic. For those of you who aren’t familiar, it’s about a tyrannous but stout dictator, who hated it when people would call him a “fink,” even though the term has many meanings.

Speaking on Bloomberg yesterday, Blackrock’s CEO Larry Fink weighed in on many important issues including the ongoing trade wars as well as shooting down recent rumors that Blackrock is about to get into crypto.

With $6.28 trillion under management, Blackrock is one of the largest financial institutions in the world and Fink is definitely the king. So it pays to listen to what he sees from this unique point of view.

@MatiGreenspan eToro, Senior Market Analyst

Today’s Highlights

Trumputin Turning Heads

Earnings Season (New Tool)

75 Lambo Traffic Jam (New Research Paper on ADA)

Please note: All data, figures & graphs are valid as of July 17th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Shock and awe were witnessed on the global main stage yesterday at the Helsinki Imperial Palace, where President Vladimir Putin and Donald Trump made jaws drop by aligning themselves on more than a half dozen hot-button issues.

Picking up the most headlines was this statement, where Trump seemed to side with Putin over his own Intelligence Agency. Yet, despite the calls of “treasonous Trump” from both Democrats and Republicans, the best the American people can hope for are some fair and compelling conclusions from special investigator Robert Mueller.

Meanwhile, stock markets are firmly in the red in Asia and Europe this morning as talk of a trade war and Fed tightening overshadow bullish investor sentiment.

Later today, about 30 minutes after the opening bell on Wall Street, we’ll get a special spectacle. Fed Chair Jerome Powell will be in front of the US Senate Banking Committee, in addition to his prepared statement, there’ll also be a Q&A session. Should be fun to watch.

Earnings Season Underway (New Tool)

For those of you holding individual stocks, which I hope is most of you, earnings reports are important. Yesterday, some sour earnings sent Netflix down by nearly 15% after hours.

In order to help you keep better track of these opportunities, we’ve put together a nifty tool to help you keep track of which companies are about to publish their results.

Please bookmark this page: https://www.etoro.com/investing/earnings-reports/

Simply scroll down to see the schedule, as well as the forecasted EPS. If you’re interested in a specific stock, you can click the “+” button to add it directly to your watchlist. As well, you can search directly for upcoming announcements by company or by a future date.

Ether Spammer

Five million green teas, 75 Lambos, 25 Coinbase seed rounds, or 0.9% of the Telegram ICO.

According to Vitalik Buterin, that’s what it’s costing someone to spam the Ethereum network. On Sunday, the Ethereum network was clogged pretty much the entire day reaching a peak of 62,715 unconfirmed transactions at one point.

While Ethereum is by far the most popular platform for dApps at the moment, it’s clear that if they don’t scale quickly it may not stay that way forever.

New Research Paper (ADA)

Several blockchain 3.0 competitors are already under construction and after looking at all the top contenders, we’ve found that one of the most promising ones is Cardano.

For your convenience, we’ve put together the following research paper in order to assist you to make the best possible investment decisions when considering this unique and exciting token for your portfolio.

Please find the new research paper at eToro.tw/Research-ADA

As with all emerging technologies investing in this project may be risky. Because the network is still in its infancy, we really have no way of pinpointing exactly what each ADA token should be worth and so should only be used as a small part of a well-diversified portfolio.

Let’s have an awesome day ahead!

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation. The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro. Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

Best regards,

Mati Greenspan

Senior Market Analyst

Connect with me on…

eToro: http://etoro.tw/Mati Twitter: https://twitter.com/matigreenspan LinkedIn: https://www.linkedin.com/in/matisyahu/ Telegram: https://t.me/MatiGreenspan

Images courtesy of eToro

The post The King is a Fink appeared first on Bitcoinist.com.

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[bharatiyamedia-blog]

Border Patrol Posts Take a look at Fb's New Hate Speech Insurance policies

http://tinyurl.com/yxwz3spf Lower than a day after Fb revealed new hate speech insurance policies and a civil rights job power on Sunday, the corporate landed in sizzling water once more on Monday, after ProPublica revealed a secret group of border patrol agents utilizing the social community to share lewd images and posts about migrants and Latino members of Congress. In ProPublica’s startling report, the publication exposes the group titled “I’m 10-15,” which consists of 9,500 present and former border patrol brokers sharing inappropriate images and different content material. One touch upon a posted photograph of Rep. Alexandria Ocasio-Cortez (D–N.Y.) and Rep. Veronica Escobar (D–Tex.) exhibits one of many patrol brokers asking to throw burritos on the two public officers. In an particularly graphic publish, ProPublica stories, members of the group posted a photoshopped picture of a girl resembling Ocasio-Cortez showing to have interaction in intercourse with President Donald Trump. In one other, a photo of the drowned Salvadoran migrant Oscar Martinez Ramirez and his daughter, the poster means that the picture was faked or edited. Fb instructed Fortune it was investigating ProPublica’s report, however did not go into additional particulars The key border patrol Fb group is a harsh dose of actuality up towards the rule adjustments for content material introduced by Fb on Sunday. Following a 27-page civil rights audit by civil rights chief Laura Murphy, a former ACLU legislative director, Fb COO Sheryl Sandberg laid out changes the social network would enact to scale back discrimination on the platform. As part of the plan, Fb says it’s doubling down on banning white nationalist speech. For instance, concepts that promote white separatist ideology will probably be banned, even when the phrases “white nationalism” or “white separatism” aren’t used within the publish. As well as, Fb is barring entrepreneurs from selecting who can see advertisements based mostly on race, faith, and sexual orientation, the outcomes of settling a lawsuit with the ACLU in March. Fb additionally introduced it is going to take away age, gender, and zip codes from advertisers’ filter choices. An organization spokesperson additionally disclosed that advertisements working on Fb-owned Instagram will comply with Fb’s new anti-discrimination pointers. The corporate made no point out relating to the advertisements that may run on their messaging app WhatsApp’s Status characteristic, anticipated to reach in 2020. Previously, pretend information on WhatsApp has sullied the elections of nations like Nigeria, India, and Brazil. Modifications are additionally within the works at Fb for points together with voter suppression and acts of violence. In accordance with Fb, the corporate will rally its engineering, information science, coverage, product, and authorized groups to fight voter suppression ways—an issue the social community has historically avoided proudly owning as much as. If a bunch organizes an occasion in hopes of harming or harassing a bunch of people, for instance, their posts will probably be banned. Whereas the audit affords a strong guideline for the corporate, the one authoritative physique that has precise say over what Fb does is Fb. In a press launch, members of Color of Change, a racial justice group, concurrently applauded the social community’s efforts, whereas additionally calling for governmental oversight. “This newest replace to the civil rights audit displays a significant reversal in Fb management’s dedication to creating the platform secure for all customers,” stated Colour of Change’s president Rashad Robinson. The group additionally famous, nevertheless, that, “exterior intervention from authorities regulators will probably be essential to make sure civil rights turn into an operational precedence at Fb.” However Colour of Change is not the one group calling for presidency regulation of Fb—so is Fb. In his 2018 congressional listening to, Mark Zuckerberg stated authorities policing of Fb is unavoidable. “I feel it’s inevitable that there’ll must be some regulation,” Zuckerberg said. The CEO was open to the concept of presidency regulation however was cautious of the quantity of regulation his website would see. In a Washington Post op-ed from March 2019, Zuckerberg once more requested for presidency regulation of Fb. Sunday’s audit of Fb was the corporate’s second one general. May 2018’s audit by Murphy additionally put the location underneath a microscope. Fb launched an replace last December, revealing that the corporate made changes with reference to misinformation on the service and voter suppression towards individuals of shade. With every passing audit, Fb makes it clear it’s critical about addressing the problems, and that there is additionally extra work to be finished—although sometimes these revelations do not spill out in such fast succession. Nonetheless, secret teams just like the one allegedly belonging to frame patrol brokers exhibits how arduous the social community is to police. In accordance with the Fb, the location plans to “proceed listening to suggestions from the civil rights group and handle the vital points they’ve raised” to learn everybody. Extra must-read tales from Fortune: —Trump’s MAGA rallies cost big bucks—and cities foot the payments —Black women voters will probably be central to the 2020 election, consultants predict —Can Trump hearth Fed Chair Jerome Powell? What history tells us —Alexandria Ocasio-Cortez’s message for democrats after “boy bye” tweet —What you want to know in regards to the upcoming 2020 primary debatesStand up to hurry in your morning commute with Fortune’s CEO Daily e-newsletter. Source link

[bharatiyamedia-blog]

Appearing Customs and Border Safety Commissioner to Resign

http://tinyurl.com/y2zohlrc The performing commissioner of U.S. Customs and Border Safety says he’s stepping down amid outrage over his company’s remedy of detained migrant kids. John Sanders mentioned in a message to CBP staff Tuesday that he would resign on July 5. CBP is the company that apprehends and first detains migrant dad and mom and kids crossing the U.S.-Mexico border. Attorneys who visited CBP amenities final week described squalid situations: insufficient meals, lack of medical care, and kids making an attempt to look after toddlers. Six kids have died since late final yr after being detained by CBP. Sanders pushed Congress to cross $4.5 billion in humanitarian funding. In an interview final week with The Related Press, Sanders talked about how the deaths “impacted him profoundly.” Extra must-read tales from Fortune: —Trump’s MAGA rallies cost big bucks—and cities foot the payments —Black women voters might be central to the 2020 election, consultants predict —Can Trump fireplace Fed Chair Jerome Powell? What history tells us —Alexandria Ocasio-Cortez’s message for democrats after “boy bye” tweet —What you could know concerning the upcoming 2020 primary debates Rise up to hurry in your morning commute with Fortune’s CEO Daily publication. Source link

[bharatiyamedia-blog]

The place LGBTQ Rights Stand Two Years Into the Trump Administration

http://tinyurl.com/y2t2mbpu Hundreds of thousands will collect in New York Metropolis later this June to rejoice the 50th anniversary of the Stonewall riots, the historic conflict between police and queer patrons on the Stonewall Inn that launched the trendy LGBTQ+ rights motion. Since that night time, the LGBTQ neighborhood and their allies have made strides towards attaining equitable freedom—however the combat is much from over. Regulation enforcement arrived on the Stonewall Inn throughout the early hours of June 28, 1969, to deal with alleged liquor legislation violations, however the officers compelled out the bar’s patrons with such bias-infused brutality that days of protests started. Fifty years later, the New York police commissioner issued a long-demanded apology for the division’s conduct on that night time. “The actions taken by the N.Y.P.D. had been mistaken—plain and easy,” Commissioner James P. O’Neill stated throughout an occasion earlier this month, the New York Times experiences. Every year, the LGBTQ neighborhood celebrates the anniversary of the Stonewall riots with delight marches and commemorative occasions all through the month of June, drawing consideration to the combat for civil rights. President Invoice Clinton was the primary within the White Home to concern a proclamation formally recognizing June as “Homosexual and Lesbian Delight Month” in June 2000. “I encourage all Individuals to look at this month with acceptable applications, ceremonies, and actions that commemorate our range, and to recollect all year long the homosexual and lesbian Individuals whose many and various contributions have enriched our nationwide life,” wrote Clinton. Clinton’s file isn’t good: He additionally applied the “Don’t Ask Don’t Inform” coverage that some argued was a repackaged ban on gays and lesbians serving within the army (Barack Obama repealed the coverage in 2011). Clinton did, nonetheless, prohibit discrimination primarily based on sexual orientation within the federal authorities. The administration of George W. Bush started the next yr, and one other proclamation was not issued until 2009, when Obama acknowledged the extra inclusive “Lesbian, Homosexual, Bisexual and Transgender Delight Month.” He did so yearly for the remainder of his presidency. Since taking workplace in 2017, President Donald Trump has not issued an official proclamation recognizing Delight Month (Congress tried to go its personal measures declaring the celebratory month the previous two years, however neither effort was profitable). Trump has repeatedly voiced support for the neighborhood on-line and in public, however his administration’s insurance policies seem to current an agenda with reverse targets. LGBTQ rights haven’t solely been ignored underneath the present White Home, however actively withdrawn, Sarah Massey of the National LGBTQ Task Force, the oldest LGBTQ rights organizations within the nation, advised Fortune. “I believe not solely have we seen a bigot in Trump, we additionally see somebody who seeks to discriminate and harm the LGBTQ neighborhood,” Massey stated. “It’s one factor to overlook a vacation. It’s one other factor to propagate guidelines that may kick our trans siblings out of the army, would kick folks out of shelters or housing, would kick folks out of reasonably priced well being care. Vacation proclamation is a logo, however the actuality is far, a lot worse.” The Trump administration has taken each small and substantial steps towards withering the rights of LGBTQ people since day one, a timeline of such strikes printed by GLAAD, an LGBTQ-focused media monitoring group, reveals. The timeline consists of a number of situations of endorsing anti-LGBTQ beliefs and erasing LGBTQ visibility in vital authorities paperwork. Only a month after his inauguration, Trump withdrew protections for transgender people by stating Title IX now not applies to their neighborhood. The 1972 legislation forbids discrimination primarily based on gender, and had been used underneath the Obama administration to make sure transgender college students had been permitted to make use of the varsity restroom of their selection. A couple of months later, Trump signed an executive order targeted on “non secular liberty,” setting the groundwork to permit discrimination in opposition to the LGBTQ neighborhood primarily based on non secular beliefs. The declaration was applauded by the Household Analysis Council, an academic group that seeks to tell most of the people “about household points that have an effect on the nation from a biblical worldview.” The Bureau of Prisons said in Could 2018 that inmates should be housed in response to their organic intercourse, rolling again Obama-era protections for transgender people, and Trump’s Justice Division said in October 2018 that Title VII, which protects in opposition to employment discrimination, does not extend to LGBTQ people. Extra not too long ago, the Supreme Courtroom upheld the Trump administration’s ban on transgender folks serving within the army, and the Division of Well being and Human Providers proposed a rule change that would threaten healthcare protections for the transgender neighborhood. The modifications are extra than simply political. Based on Massey, the president has didn’t be “an ethical chief,” permitting a tradition of conservatism and white nationalism to be “echoed throughout the entire nation.” “You’ve gotten the political, you’ve the coverage, however then you’ve the tradition of hate, and that’s impacting our communities,” stated Massey. A 2016 data analysis by the New York Instances—printed simply days after the lethal Pulse Nightclub shooting in Orlando—reveals LGBTQ people usually tend to be the goal of a hate crime than some other minority group. Based on the Nationwide Coalition of Anti-Violence Applications’ “Crisis of Hate” report, 2017 noticed extra anti-LGBTQ homicides than any of the prior 20 years. Inside the previous few years, violence in opposition to transgender ladies of shade specifically has grown into a crisis. Massey says Trump “makes use of his pulpit to discriminate” in opposition to marginalized populations, all of which embrace LGBTQ people. “The factor that’s fantastic about being LGBTQ is we’re everybody,” stated Massey. “The people who find themselves in search of asylum, who’re being held in cages: they’re LGBTQ. The people who find themselves not gaining access to housing and training, they’re additionally LGBTQ.” “I would like everybody to grasp that whether or not you already know it or not, you already know an LGBTQ individual,” Massey continued. “They’re simply not out due to the tradition and the society that we exist in proper now. Each single individual has a duty to shift that tradition.” Congress has made strikes towards combating discriminatory insurance policies by introducing the Equality Act. If enacted, the Equality Act would prohibit discrimination on the idea of intercourse, gender id, and sexual orientation. The Home was in a position to go the act due to the transformative midterm elections, which noticed a file variety of ladies and minority representatives elected. The Republican-controlled Senate, nonetheless, has not voted on the matter, and Trump has voiced disapproval of the laws. Whereas this course of is slow-moving, Massey stated she stays longing for the longer term. “We’re reflecting on 50 years because the Stonewall riots and what we are able to say is over the course of those final 50 years, now we have made progress,” stated Massey. “I take a look at the youthful technology and I see hope.” Youngsters immediately are “throwing out outdated ideas round gender,” stated Massey. Many are being raised by two moms, two fathers, or a transgender mum or dad with out realizing this household construction was not all the time the norm. Being LGBTQ is still illegal in lots of locations world wide; the U.S. Supreme Courtroom assured the right to same-sex marriage simply 4 years in the past. “I see the Trump administration as a response to all of our progress,” stated Massey. “He’s taking us one step again, however we’re already method forward, and we’ll proceed to be, no matter who’s within the White Home. If it’s this administration or the subsequent, they’ve one factor to work on—which is politics—and now we have the folks. We have now the hearts, the minds, and the tradition. The wheels of historical past are turning in the direction of progress and justice.” Extra must-read tales from Fortune: —Trump’s MAGA rallies cost big bucks—and cities foot the payments —Black women voters can be central to the 2020 election, specialists predict —Can Trump hearth Fed Chair Jerome Powell? What history tells us —Alexandria Ocasio-Cortez’s message for democrats after “boy bye” tweet —What that you must know in regards to the upcoming 2020 primary debates Rise up to hurry in your morning commute with Fortune’s CEO Daily publication. Source link