what happened? (May 7-13)
CNN Trump Cast
Until last week, former President Donald J. Trump had not appeared on CNN since 2016. But Wednesday night, at a town hall hosted by the station, Trump, the 2024 Republican frontrunner, once again lied, using the swear words that have marked his inauguration. Responding to a question from anchor Caitlan Collins, he repeated misinformation about the 2020 election and called writer E. Gene Carroll, who won a sexual abuse and defamation lawsuit, “a terrible job.” , mocked Collins as a “mean person”. Man. Collins often spoke to her when she tried to correct Trump’s lies. CNN Chairman Chris Licht said it would be reckless to give him such a big message, especially if it was difficult to fact-check Trump’s remarks in real time. ‘s report highlighted that it “will continue to be messy and awkward.”
inflation is slowing
Wednesday’s high-profile report showed US inflation reached a noteworthy milestone. In April, the pace of price increases slowed for the 10th straight month. The consumer price index rose 4.9% year-on-year, beating analyst expectations in a positive way. Economists surveyed by Bloomberg had expected a 5% rise. Core inflation, which excludes volatile food and fuel costs, also fell slightly. The report comes after the Federal Reserve raised its benchmark interest rate ten times in a row. The latest inflation data and other signs of a slowing economy could make May’s rate hike the last for the foreseeable future.
Elon Musk Announcement
Elon Musk long ago asked users on Twitter if they should step down as the platform’s chief executive. “I stand by the results of this poll,” he said. As a result, nearly 58% of the 17.5 million people who voted agreed that Mr. Musk should resign. But it was still somewhat of a surprise when Mr. Musk announced his replacement Friday. Musk said he will be replaced by NBCUniversal’s chairman of global advertising and partnerships, Linda Yaccarino. Musk, who was recently interviewed on stage at an advertising event in Miami, said Yaccarino will focus on her business operations while Musk will continue to work on product design and technology.
what’s next? (May 14-20)
Senate Hearings on Banking Crisis
Two groups that have held each other accountable for the recent bank failures — the heads of those banks and the federal regulators that oversee them — are set to appear in two Senate hearings this week. On Tuesday, former Silicon Valley Bank chief executive Greg Becker, who resigned after the bank’s collapse in March, will testify before the Senate Banking Committee. Two former executives of Signature Bank, which collapsed two days later, also testify. Lawmakers are expected to react harshly. “You have to answer about the collapse of the bank,” the chairman of the commission wrote in a letter asking Mr. Becker to appear. Regulators may also expect tough debates at another hearing on Thursday. When regulators appeared before a committee last month, lawmakers from both sides denounced the supervisory deficiencies in the banking crisis. Regulators also pointed to bank mismanagement.
