President-elect Donald Trump has vowed to "dismantle government bureaucracy," enlisting the help of billionaires to achieve his goals. Federal workers with memories of Trump's first term are scared.

The partial federal government shutdown is one week old, but economists are still saying that its impact in Southern California and elsewhere will be limited.

Susanne Whatley: Business analyst Mark Lacter, why is that?

Mark Lacter: If you look back on the history of these things, Susanne, you see that the disputes are resolved before too much damage gets done.  As for Southern California, I notice that KPCC's Alice Walton was asking around over the weekend about the shutdown, and most folks gave it a shrug.  The regional economy is just too diversified - and not especially tied to federal employment.  You have about 46,000 federal workers employed in L.A. County in one capacity or another - that's out of a workforce of nearly 5 million.  And, now it appears as if the federal employees who have been furloughed are going to receive their back wages whenever the shutdown finally ends.

Whatley: That still might make things dicey when it comes time to pay the monthly mortgage...

Lacter: ...but at least money will be available before most folks run into serious liquidity issues.  That's what the shutdown really comes down to - inconvenience rather than dislocation.  And, you see this with the various government services affected: the E-Verify website is down - that lets business owners know whether the people they're wanting to hire can work legally in the U.S., which obviously is important.  The Small Business Administration has stopped processing loan applications, and the Federal Housing Administration is reporting delays in its loan processing, which could mean a home buyer might not complete his or her paperwork all that quickly.

Whatley: But, what if this were to go on for months?

Lacter: Well, then it would create problems, but nobody really thinks that's going to happen.  The real issue, not just nationally and regionally - but globally - is the refusal by Congress to raise the debt ceiling.  The deadline is a week from Thursday, and - of course - there's been all sorts of debate about what this would mean for the economy.

Whatley: All right, so what would this mean for the economy?

Lacter: Well, no one knows exactly.  But, then again, no one knows exactly what would happen if you fell out of a airplane without a parachute.  I just wouldn't want to test it out.  And, of course, let's keep in mind that these are manufactured crises - not reflective of anything that's going on with the real economy.  It's certainly not reflective of anything that's going on in L.A., which saw a big jump in payroll jobs for 2012 - actually it was the sharpest increase since 2005, and nearly double the national rate (that's despite an unemployment rate that remains very high in certain parts of Los Angeles).

Whatley: What about some of the big locally based companies?

Lacter: Well, if your company is publicly traded, there's a good chance your shares took a dip these past few days.  Going back to September 18, the Dow has lost almost 700 points, which - percentage-wise - is not very much, but it is reflective of how uneasy Wall Street has become.  Public companies based in the L.A. area are taking it on the chin - Disney, Amgen, Mattel, DirecTV - their stock prices are all down going back to the middle of September.

Whatley: Even so, hasn't this been a good year for the stock market?

Lacter: It has - those local companies are up anywhere from 13 percent 30 percent year to date, and the Dow is up 14 percent year to date.  Of course, the stock price of a company doesn't always match the amount of money it makes, and this year, even before worries about the debt ceiling, the numbers haven't been as good as they should be at this stage of a recovery.  And, that's why there's particular concern about next week.  You do have to wonder whether a default could have ripple effects involving trade, consumer spending, the dollar - who knows what?  Now, it's still a pretty good bet that saner heads will prevail, although there are no guarantees - and again, if worse came to worse, do you really want to be jumping out of that plane?  Guess we'll find out.

Mark Lacter writes for Los Angeles Magazine and pens the business blog at LA Observed.com.

This content is from Southern California Public Radio. View the original story at SCPR.org.

The state's online registration for Covered California has been up for a couple of weeks, and reaction has been mixed.

Steve Julian: Business analyst, Mark Lacter, what's your take on how well Californians are getting into the Affordable Care Act?

Mark Lacter: It's hard to get a good read, Steve, because it's hard to measure the success of what is really a new marketplace.  If you're basing it on the number of unique visitors coming to the Covered California website, well, then the program clearly has attracted lots of interest - they had almost a million visitors during the first week of eligibility.  But, maybe a better measure would be the number of people whose applications actually have been received by the insurance companies that are going to handle the claims.  If that's your measuring stick, then the numbers have been far smaller so far.  Now, it's worth pointing out that California - and particularly L.A. County - have a higher percentage of households without insurance than other parts of the nation, and so you'd expect there to be lots of interest.

Julian: So the question, then, is how many folks turn into actual policyholders paying actual premiums each month.

Lacter: The truth is nobody knows, which is why state officials want to sign up as many people as possible in the early going when the program is getting so much attention.  This is especially true for younger and healthier people who are needed to help offset the cost of caring for older and sicker people.

Julian: And, that's also why any computer glitch can be such a headache...

Lacter: That's right.  Covered California did run into problems in the early going, but everybody agrees that things are going much better than the federal website, which is the default site used by folks in states that don't have their own program to oversee the health care laws.  That federal site has been an utter disaster.  So, by comparison, California is ahead of the game.

Julian: It's a work in progress, even here.

Lacter: Very much so.  The California website still doesn't have a way for enrollees to find out which doctors and hospitals are included in each health plan.  And, that's a big deal because  insurance companies are limiting the options available as a way of keeping premiums low.  So, it's possible that the doctor you had been using for your individual insurance plan will not be on the list of doctors that can be used for one of the cheaper plans.  Of course, for someone who doesn't have any health coverage, none of that is likely to matter.

Julian: And then, there's the continued threat of a U.S. default...

Lacter: You know, Steve, this is like watching the beginning of a bad traffic accident in slow motion - and we're all pretty helpless to do anything about it.  And, so are the financial markets, which are moving back and forth not based on what's going on with the economy or with any industry, but on the latest press conference out of Washington.  One thing we do know is that if the nation does go into quote-unquote default - and we're not even sure what that might mean - but if Wall Street and somehow declares this a major crisis, it's going to be bad.

Julian: Who gets hit?

Lacter: It'll impact anyone who has a retirement account, any business wanting to borrow money, and potentially it's going to impact the budgeting of the state.  You know, one of the things we were reminded of during the Great Recession was how reliant California has been on higher-income individuals who make a lot of their money through the stock market and other investments.  So, when those folks do well - as they have been over the last year - the state coffers will do well.  And when they don't, as was the case in 2008 and 2009, the state takes a huge hit because there's not enough tax dollars coming in.  Gov. Brown and others have tried to lessen the reliance on those top tiers - so far without success.

Julian: And the state's budget situation is so much better than it was a year or two ago.

Lacter: That's the real pity.  And, even if the House and Senate reach a temporary agreement on the debt ceiling, it's just a matter of weeks or months before another deadline crops up - and more uncertainty for the financial markets.  I guess Chick Hearn would have called this nervous time.

Mark Lacter writes for Los Angeles Magazine and pens the business blog at LA Observed.com.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Bima Sugam India Federation is working to create a digital insurance marketplace in India.

The Victorian Government is calling for Expressions of Interest to develop Federation Square East – an iconic site in the heart of Melbourne. Global developers are invited to respond to the EOI which will be officially released to the market on Monday 15 September 2014, presenting an exciting opportunity to create a vibrant, mixed use development that may incorporate commercial components — including shops, bars and even accommodation.

Event Begins: Thursday, November 14, 2024 6:00pm
Location:
Organized By: University Career Center

Are you a student or recent graduate passionate about making a difference? Join us this fall for our virtual information sessions hosted by the Partnership for Public Service! Our Call to Serve team is excited to guide you through the pathways to impactful careers in the federal government. The Partnership’s Call to Serve team will share: 
Entry-level government opportunities, including internship and fellowship programs.
Practical tips to navigate the federal hiring process.
Tools for effectively searching government jobs.
This is a unique chance to gain valuable insights and set yourself on a path to make a meaningful impact in the federal government. Don’t miss out—spaces are limited, so secure your spot today by signing up here.  Participants are required to sign up on our website, do not sign up via Handshake! 

Fundamental Overview

The US CPI yesterday came in line with expectations leading to a bit of a “sell the fact” reaction in the US Dollar.

The bullish momentum picked up a bit later though as Fed’s Logan delivered a hawkish comment saying that “models show that Fed funds could be very close to neutral” basically implying a lot more cautious approach on rate cuts in 2025.

The market is viewing all of this in light of the recent US election as Trump’s policies are likely to spur growth and potentially keep inflation above target for longer, making the Fed’s job of bringing inflation back to target a bit harder.

AUDUSD Technical Analysis – Daily Timeframe

On the daily chart, we can see that AUDUSD broke through the recent low around the 0.6537 level and extended the drop into the 0.6460 level as the US Dollar restarted its run on stronger US data. The natural target should be around the 0.6362 level.

From a risk management perspective, the sellers will have a better risk to reward setup around the trendline. The buyers, on the other hand, will want to see the price breaking higher to start targeting a rally into the top of the yearly range around the 0.69 handle.

AUDUSD Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see that we have another minor downward trendline defining the current bearish momentum. If we were to get a pullback, the sellers will likely lean on the trendline with a defined risk above it to position for a drop into new lows. The buyers, on the other hand, will want to see the price breaking higher to start targeting a bigger pullback into the major trendline.

AUDUSD Technical Analysis – 1 hour Timeframe

On the 1 hour chart, there’s not much more we can add although we can see that we have a minor resistance zone around the 0.65 handle. If the price gets there, we can expect the sellers to pile in for move lower, while the buyers will look for a break higher. The red lines define the average daily range for today.

Upcoming Catalysts

Today we have the US PPI and the US Jobless Claims figures. Tomorrow, we conclude the week with the US Retail Sales data.

• Fed will 'most likely' need more cuts but should 'proceed cautiously'
• If Fed cuts too far past neutral, inflation could re-acclerate
• Difficult to know how many Fed rate cuts may be needed, and how soon they need to happen
• Fed has made a great deal of progress in bringing inflation down
• Fed not quite back to price stability yet
• US economic activity is resilient
• Labor market cooling gradually but not weakening materially
• Sees upside risk to inflation, downside risk to employment, says financial conditions may pose biggest challenges for monetary policy
• If bond yields continue to rise, the Fed may need less-restrictive policy

Logan last spoke in late October and wasn't quite this hawkish. I think the Fed cuts in December but takes a pause after that and waits to see how things play out.

St. Louis Fed Pres. Musalem is scheduled to speak at the top of the hour. Musalem is a voting member in 2025. Back on October 7, Musalem spoke and said:

• More rate cuts likely given economic outlook.
• Won't predict timing or size of future Fed easings.
• Personal rate outlook is above Fed’s median view.
• Costs of easing too much outweigh easing too little.
• Supported Fed’s decision last month to cut rates by 50 basis points.
• Policy patience has served Fed well.
• Cooler job market still consistent with strong economy.
• Expects inflation pressures to continue to abate.
• Expects inflation to converge to 2% over next couple of quarters.
• Financial conditions remain supportive of growth.
• Some economic activity slowed by rate policy, election uncertainty.

That was over a month ago. So how he weighs in now will be interesting given the backup in yields and other economic and other developments since that time

• Risks to the jobs market have remain unchanged or have fallen
• Fed may be on the 'last mile' to price stability, inflation expected to converge to 2% over the medium term
• Monetary policy well posited, Fed can 'judiciously and patiently' judge income data to decide on further rate cuts
• Strong economy on track for a 'solid' fourth quarter
• Growth is broad-balanced and driven by consumption, income growth, productivity, supportive financial conditions and wealth effects
• Recent high productivity could prove durably structural but that remains uncertain
• Core inflation remain elevated
• Pressure in services industries slowly abating

This is the third Fed official who has floated some more-hawkish hints. It's hardly a signal of a pause in December but early 2025 is going to be interesting. There are meetings in January, March and May. Assuming a cut in Dec, there is one cut fully priced in for that period (and a smidge more).

That sounds about right based on the comments and data but that's going to swing based on the next set of numbers and beyond.

• Rate cuts to date are an acknowledgement of growing confidence that inflation is on the path to 2% goal
• Hope productivity growth can outrun the effects of slowing population growth
• Won't let enthusiasm over rising productivity get ahead of data or commitment to reaching Fed goals

There isn't much of a hint on anything here.

UBS remain upbeat on further Federal Reserve interest rate cuts to come. Analysts at the bank acknowledge heightened concerns about inflation in the market, and also trimmed market pricing for cuts ahead.

Ahead of Wednesday's CPI report (Forexlive Americas FX news wrap 13 Nov: US CPI comes out as expected. USD continues rise) UBS points:

• Economic data signals a stronger-than-expected economy. Concerns about inflation remain

• Market expectations lean towards a slower pace of Fed rate cuts

• Fed officials view the current rate as restrictive but are balancing employment and inflation goals. A major inflation surprise would be required to shift policy outlooks.

• The Fed is likely to continue rate cuts, with a potential 25 basis point cut in December and further easing expected in 2025.

And, the data result was not enough to dissuade analysts at UBS from expecting further cuts from the FOMC ahead, referring to the in line CPI print not changing the underlying fundamentals and economy narrative.

***

The latest from FedWatch shows a solid expectation for a 25bp cut on December 18:

Federal Reserve Chair Jerome Powell delivers a speech on his economic outlook, followed by a question and answer session.

• Powell participates in "Global Perspectives" conversation before event hosted by the Dallas Regional Chamber, World Affairs Council of DFW and the Federal Reserve Bank of Dallas
• @ 2000 GMT / 1500 US Eastern time

While the Fed seems committed to a December rate cut not all signs in the CPI data on Wednesday were encouraging.

Times below are GBT / US Eastern time:

1400 / 0900 Federal Reserve Bank of Richmond President Thomas Barkin speaks on the economy in fireside chat before the Real Estate Roundtable

1500 / 1000 Federal Reserve Board Governor Adriana Kugler speaks on "Central Bank Independence and Economic Outlook" before the Latin American and Caribbean Economic Association (LACEA) and the Latin American Chapter of the Econometric Society 2024 Meeting

2000 / 1500 Powell, as already noted

2115 / 1615 Federal Reserve Bank of New York President John Williams speaks before the "Intermediating Impact: Making Missing Markets" event hosted by the Federal Reserve Bank of New York

As head of the NY Fed Williams is vice chair of the Federal Open Market Committee (FOMC) and has a permanent vote at the table. .

Reimagining the E2T2 Program for the Modern Era  Federation of American Scientists

The Fed is in a rate cut cycle as Trump is coming to the White House—just as he would prefer.

The post Breitbart Business Digest: Trump Will Love the Fed Doves appeared first on Breitbart.

By Megan Myscofski

Governor Gavin Newsom went to Washington, D.C. this week to meet with California’s Congressional Delegation and the Biden Administration and advocate for federal funding to the state before President-elect Donald Trump takes office in January. 

Newsom told a Spectrum News reporter in the capital that he has concerns the state will lose some federal funding — which Trump threatened while campaigning.

“I guess that's what people voted for, but I got to tell you, a lot of folks will be hurt if we don't push back,” he said. 

Newsom said he’s advocated for funds related to the environment, disaster relief and health care.

That includes two Medicaid waivers — one to put more funds towards behavioral health treatment, and another to renew the state’s MCO tax, which California voters just approved through Proposition 35. 

The governor also pushed for more federal land protections, clean air and water support, and approval on several waiver requests to support the state’s climate and emissions rules. 

Lindsey Churchill works with the Rebuild Paradise Foundation, which supports survivors of the 2018 Camp Fire. 

She said federal funds are already challenging to work with because of how slow they tend to roll out. 

“When you’re trying to provide programs in a timely manner after a disaster, you don’t necessarily have time to wait a year or longer for that kind of funding,” she said. 

She added that she’s also concerned about the Trump administration withholding funding, especially as natural disasters become more frequent and costly.

The criticism comes in the wake of revelations that longtime CBI forensic scientist Yvonne "Missy" Woods routinely deleted and manipulated DNA testing during her nearly 30-year career, creating unreliable results in hundreds of cases.

Federal prosecutors say all three supporters worked together to spray-paint a racist slur aimed at Black people on a campaign sign for Mobolade on April 23, 2023, during the city's mayoral runoff election campaign

UCHealth will pay $23 million to settle a federal lawsuit alleging the hospital system fraudulently coded emergency room visits submitted to Medicare and the military health insurance program TRICARE.

Asia-Pacific markets traded mixed on Thursday after the U.S. October consumer price index reading reinforced expectations that the Fed would cuts rates again in December. The CPI came in line with expectations, accelerating slightly to an annual inflation rate of 2.6%. Core CPI, which straps out…

Inflation remains substantially lower than it did during its 2022 peak — but Americans are still frustrated with high prices.

The Supreme Court has rejected a petition from Mark Meadows, the former White House chief of staff during the first Trump administration, to move his 2020 election subversion case to federal court.

The N.W.T. government is getting up to $25 million in new federal funding for a hydro expansion project that would double the territory's current hydro-generating capacity.

Elected officials of Nantes, Que., are putting an end to talks with the federal government about the Lac-Mégantic rail bypass, citing a lack of communication about the file.

After several weeks without a ferry crossing the Northumberland Strait between P.E.I. and Nova Scotia, one of the service’s beleaguered ships could return to service on Dec. 6, the company says.

Three Ontario police associations released a statement Wednesday calling on the federal government to implement stricter bail policies, after Toronto police officers were caught in a gunfight between two groups in the city's west end Monday night while conducting a bail compliance check.

Peter Swan, associate professor emeritus of supply chain management at Penn State Harrisburg, will hold a presentation on Nov. 20 to discuss the findings of a Transportation Research Board study he helped compile on the impacts of long freight trains.

The NHTSA last week announced an investigation into 1.4 million Honda and Acura vehicles for potential damage that could result in a complete failure of their 3.5-liter V-6 engines. The bearings on connecting rods that connect the pistons with the crankshaft in certain V-6 engines can fail, causing catastrophic damage. The NHTSA's Office of...

President-elect Trump has tapped Tesla and SpaceX CEO Elon Musk to lead what he's calling the "Department of Government Efficiency," or DOGE. Still, only Congress can create a new federal agency.

Sixteen months after Canada Life took over the administration of the Public Service Health Care Plan, hundreds of thousands of federal retirees are hoping to avoid similar problems now that their dental plan is under the same provider.

Dozens of researchers across Canada have joined a growing chorus of voices urging the federal government to halt the importation of an endangered monkey species for medical research in Quebec.

Federal government departments are still allowed to advertise on TikTok despite mounting security concerns about the social media app, CBC News has learned. 

Johnson & Johnson is suing the federal agencies overseeing the 340B program that makes discounted medicines more accessible to uninsured and underserved patients. J&J contends the Health Resources Services Administration can’t legally oppose its plan to implement a new rebate plan for certain 340B drugs.

The post Johnson & Johnson Takes the 340B Drug Rebate Fight to Federal Court appeared first on MedCity News.

Fedora Beauty H/E Giclee on Hand-Textured Canvas by Trevor Mezak is a(n) Limited Edition. The Edition is Limited to Limited Edition of 50 pcs

Bianca Wong, a seasoned executive with over 22 years of experience across human resources and business strategy roles, has been appointed as the new Regional Vice President for Southeast Asia at FedEx.

FedEx Corp. today released its annual economic impact report, analysing the company’s worldwide network and role in building prosperity in local communities during its 2024 fiscal year (FY 2024).

FedEx delivered more than $85 billion in direct impact globally, including an estimated $10 billion net economic output in Europe’s Transportation, Storage, and Communications sector.

FedEx Express Swiss Post, the joint venture between FedEx Express and Swiss Post, announced today that it will open a new facility in Gossau in the canton of St. Gallen next year.

Federal Express Corporation (FedEx) has announced the increased frequency of an international cargo flight from Qingdao, China to the U.S., alongside the inauguration of its Qingdao international gateway facility.

Federal Express Corporation (FedEx) has expanded its state-of-the-art Life Science Center in Gimpo, Gyeonggi-do, Korea.

1. Formatie federale regering | Vooruit houdt boot af voor regeringsonderhandelingen  De Tijd
2. Waarom hint De Wever op nieuwe verkiezingen? Carl Devos: “Wiskundig gezien is een regering zonder N-VA wél mogelijk”  Het Laatste Nieuws
3. Andere formule, zelfde ingrediënten? De Wever zet door met ‘Arizona-coalitie’  De Standaard
4. Formatie: ‘Bart De Wever voert een toneeltje op’  Knack.be
5. “We riskeren in een uitzichtloze politieke crisis terecht te komen”: De Wever krijgt twee weken extra om Arizona te redden, maar heeft dat kans op slagen?  Het Nieuwsblad

By R. SCOTT MOXLEY Thursday, Apr 14 2011: Legendary Garden Grove televangelist Robert H. Schuller once noted, "High achievers spot rich opportunities swiftly." The creator of Crystal Cathedral, a best-selling author and star of Hour of Power broadcasts, Schuller has long served as Exhibit A of that credo. In the 1950s, he saw an opportunity to build a profitable church, grabbed it and-thanks largely to donations from poor and lower-middle-class folks trying to win the blessings of God-created an $89-million religious empire with hints of opulence. ... Records also show that the reverend wasn't a cheapskate in one charity case. Indeed, the recipients of his generosity weren't poor at all. They were a wealthy Newport Beach couple, Kenneth and Glenia Reafsnyder. Ken's first wife was a member of Buena Park's Knott family, founders of Knott's Berry Farm. He also palled around with actor John Wayne. In 1995, Schuller agreed to divert $4,000 a month in church donations to the Reafsnyders for the rest of their lives in exchange for a quarter ownership in the couple's home. Ken has since died, but the deal calls on Crystal Cathedral Ministries to continue to pay Glenia. In 2008, the ministry increased the payments to $4,500 a month while reducing its ownership percentage. This means that the church's current 8.5 percent portion of the house has cost more than $1,250,000-$55,000 more than the value of the entire house. Speaking of houses, over the years the Schuller family has purchased oceanfront property in Orange County, a Big Bear vacation house, a San Diego County time-share, a Colorado mansion and a Honolulu condo. Just before filing for bankruptcy, Schuller sold a San Juan Capistrano property that had been bequeathed to the church decades ago and pocketed $22.5 million. The reverend's son, Robert Anthony Schuller, has lived in a $2.2-million oceanfront Laguna Beach dream house worthy of an Architectural Digest feature. Fred Southard, a longtime Schuller aide, lives behind palatial, guarded gates in a 13-room, 13,600-square-foot Newport Coast estate that could fetch $3 million on the open market. ... In court filings, they've remained optimistic that, despite a 50-percent drop in church membership to 5,000 attendees, the ministry can eventually pay off all of the debt. To accomplish that feat, however, the Schuller clan is going to have to stir up the congregation and then, despite all the unsettling revelations, ask them to dig deeper into their wallets.

The world's leading global health conference begins on October 13.

Earlier this year, a proposal was made to replace the primary edition of Fedora from the GNOME variant to the KDE variant. This proposal, while serious, was mostly intended to stir up discussion about the position of the Fedora KDE spin within the larger Fedora community, and it seems this has had its intended effect. A different, but related proposal, to make Fedora KDE equal in status to the Fedora GNOME variant, has been accepted. The original proposal read: After a few months of being live, the proposal has now been unanimously accepted, which means that starting with Fedora 42, the GNOME and KDE versions will have equal status, and thus will receive equal marketing and positioning on the website. Considering how many people really enjoy Fedora KDE, this is a great outcome, and probably the fairest way to handle the situation for a distribution as popular as Fedora. I use Fedora KDE on all my machines, so for me, this is great news.

How small is small? New federal data shows that most small businesses are very small. By definition, a small business could have up to 499 employees. The average American small business has about 8!

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