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Buttigieg faces ‘misnamed’ inflation-cutting law, celebration amid high prices

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Buttigieg Faces 'Misnamed' Inflation-Cutting Law, Celebration Amid High Prices
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CNBC host Joe Kernen pressed US Transportation Secretary Pete Buttigieg on the White House’s celebration of the Cut Inflation Act as well as its rhetoric on the legislation during an interview on “Squawk Box” Friday.

Last Tuesday, the Biden administration held a Cut Inflation Act celebration on the White House lawn, the same day higher-than-expected inflation in August was announced and the Dow Jones Industrial Average reported. had its worst day since June 2020.

“It wasn’t called the Climate Act, you deliberately, and some people would say wrongly, named it the Cut Inflation Act, and you celebrate it on a day when, again, we we’ve had forty years of inflation,” Kernen told Buttigieg.

“And you know how it affects people at the bottom, it’s like the most insidious problem an economy can face,” he continued.

CLIMATE Czar JOHN KERRY WARNS AFRICA NOT TO USE NATURAL GAS TO BRING ELECTRICITY TO MILLIONS

WASHINGTON, DC – OCTOBER 13: US Secretary of Transportation Pete Buttigieg does a television interview with CNBC outside the White House on October 13, 2021 in Washington, DC. (Photo by Drew Angerer/Getty Images)
(Drew Angerer/Getty Images)

Buttigieg defended the legislation and tried to frame it as an effort to cut costs for consumers.

“The worst thing about inflation is that people are paying too much by definition and what this bill does is allow people to pay less,” Buttigieg replied.

According to estimates by the Congressional Budget Office and the University of Pennsylvania’s Wharton Budget Model, the Inflation Reduction Act will have a negligible effect on inflation.

INFLATION IS BIDEN’S ‘TOP PRIORITY’ AS PRICES REMAIN ‘UNCOMFORTABLY HIGH’: WH ECONOMIC ADVISOR

U.s. Secretary Of Transportation Pete Buttigieg Speaks To The Media During A Press Briefing At The White House In Washington, U.s. November 8, 2021.

U.S. Secretary of Transportation Pete Buttigieg speaks to the media during a press briefing at the White House in Washington, U.S. November 8, 2021.
(REUTERS/Lea Millis)

Buttigieg himself admitted that everything in the Inflation Reduction Act is irrelevant to inflation.

“Look, we can have a whole other conversation over drinks about how bills are named, what acronyms they come up with, what names we come up with, I get it,” he said. “There are a lot of different things that are part of this bill, only some of which are related to inflation, but in my opinion, all of which are going to make a very positive and historic big difference for the American people.”

President Biden Speaks About The Cut Inflation Act Of 2022 During A Ceremony On The South Lawn Of The White House In Washington, Tuesday, September 13, 2022.

President Biden speaks about the Cut Inflation Act of 2022 during a ceremony on the South Lawn of the White House in Washington, Tuesday, September 13, 2022.
(AP Photo/Andrew Harnik)

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The inflation rate was 8.3% in August according to consumer price index data released by the Labor Department earlier this month. Federal Reserve Chairman Jerome Powell, who was renominated for the job last year by President Biden, said the Fed would raise interest rates for as long as it takes to bring inflation down , even if it means America is in a recession.

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Fpis Invest Rs 8,600 Crore in September so far investment pace is slowing

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India Vulnerable To Fpi Exits If There Is Global Fear In Emerging Markets, Says Credit Suisse
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By PTI Sep 25, 2022, 12:32 PM IST (Released)

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The latest inflow follows net investment of Rs 51,200 crore in August and nearly Rs 5,000 crore in July, according to custodian data.

After pumping in more than Rs 51,000 crore last month, foreign investors have slowed the pace of stock buying in India in September so far as they invested just over Rs 8,600 crore, on a sharp depreciation of the rupee.

Going forward, foreign portfolio investors (REITs) are unlikely to buy aggressively amid the rising dollar, said VK Vijayakumar, chief investment strategist at Geojit Financial Services.

Indication of another rate hike by the US Federal Reserve, fears of a recession, depreciation of the rupiah and ongoing tensions in Russia and Ukraine will affect REIT flows, said Basant Maheshwari, fund manager. small business and co-founder of Basant Maheshwari Wealth Advisers LLP.

The latest inflow follows net investment of Rs 51,200 crore in August and nearly Rs 5,000 crore in July, according to custodian data.

REITs became net buyers in July after nine consecutive months of net outflows, which began in October last year. Between October 2021 and June 2022, they sold Rs 2.46 lakh crore in Indian stock markets. According to the data, REITs bought shares worth Rs 8,638 crore from September 1 to September 23.

However, REIT activity has become very volatile with alternating periods of buying and selling. They have sold out seven times this month so far. In fact, in the last two trading sessions, they withdrew Rs 2,500 crore from Indian stock markets.

Vijayakumar attributed the increase in REIT sales in recent days to the stronger dollar and rising bond yields in the United States.

In addition, the US Fed’s 75 basis point (bp) rate hike for the third consecutive time to control rising inflation and the surging dollar have impacted REIT buying, Maheshwari said. of Wealth Advisers LLP.

“The US Fed’s hawkish tone on interest rates and fears of a global recession have fueled investor pessimism,” said Shrikant Chouhan, Head – Equity Research (Retail), Kotak Securities.

Foreign investors have slowed down their purchases of stocks in India since September. The scenario turned adverse after a hotter-than-expected inflation report dashed hopes that the US Fed would scale back rate hikes in the coming months.

US inflation in August edged up 0.1% from the previous month to 8.3%. Compared to a year ago, it has eased since it was 8.5% previously.

The aggressive stance of the central bank chairman, who showed the Fed would opt for another 75 basis point hike for the fourth consecutive time at its next meeting, has rattled sentiment and made investors averse to the risk to emerging markets like India, Himanshu Srivastava, associate director – head of research, Morningstar India, said.

In addition, currency movement is another factor that REITs follow very closely as it has a significant impact on the returns they earn on their investments in any country. Therefore, outflows tend to accelerate in a scenario of rapid currency depreciation.

The sharp depreciation of the rupee as it hit a historic low of 81.09 rupees against the dollar does not bode well for foreign investment, he added. “With the dollar index above 111 and the US 10-year bond yield above 3.7%, REITs are unlikely to buy aggressively going forward. the dollar index and US bond yields are falling,” Vijayakumar said.

In addition, foreign investors injected Rs 5,903 crore into the debt market during the month under review. Excluding India, EPI flows were positive for Indonesia and the Philippines, while South Korea, Taiwan and Thailand saw outflows during the review period.

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White Sox say La Russa won’t return to dugout this season

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White Sox Say La Russa Won'T Return To Dugout This Season
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CHICAGO (AP) — Chicago White Sox manager Tony La Russa will not return to the dugout this season.

La Russa, who turns 78 on October 4, underwent “additional medical tests and procedures over the past week,” the team said on Saturday, and doctors ordered the Hall of Fame not to handle for the rest of the season.

Bench coach Miguel Cairo will continue to act as interim White Sox manager.

“Right now the focus is on his health,” general manager Rick Hahn said when asked if La Russa still wanted to manage.

La Russa left the White Sox ahead of an Aug. 30 game against Kansas City to deal with a heart condition. He joined the club in Oakland on September 11 and returned to Chicago for a two-game series against Colorado.

La Russa was waiting for permission to return to the dugout and manage during matches. Chicago lost to Detroit 7-2 on Saturday night.

“We will continue to follow his wishes to keep much of the specific details and his personal information under wraps,” Hahn said Saturday. “I spoke to him on the way this morning, and he had no problem with us letting everyone know that there is a treatment protocol in place that he plans to follow. As a result, he won’t manage the rest of this season.

“As for the inevitable question, ‘Well, what does that mean for next season?’ We will finish this season first and then tackle everything when it comes time to turn the page at the end of this year.

Cairo said he spoke to La Russa for about 15 minutes on Friday night and was fine. When asked if he wanted the managerial job, Cairo said he was focused on the current season.

“Right now we have 11 more games,” Cairo said. “I don’t know what will happen. He’s still a year old.

“I spoke to the players today, let them know and it’s still 11 games,” said Cairo, who was the bench coach. “Let’s finish strong.

The White Sox have won 10 of their first 14 games under Cairo, but have lost five in a row to fall to a season-high nine behind AL Central leaders Cleveland.

“Miggy and the coaches did a really good job,” Hahn said. “We have seen many times, unfortunately not in the last four days or so, but for long stretches over the last few weeks, this team show flashes of play at the level that we thought we were capable of over the course of the whole season. It’s a little too little too late in the year.

“But I think these guys deserve a lot of credit for what was thrown on them on the fly and the way they reacted, both in the coaching room and the way they reacted.”

The White Sox started the season with high hopes of defending their division title under La Russa.

“He’s a Hall of Famer,” outfielder Eloy Jiménez said. “He had an impact in every way in the clubhouse. For us, he wasn’t available to be there for those games we were playing, and he’s fighting for his life, so that’s not good. That’s all I can say for now.”

Tigers manager AJ Hinch said La Russa’s health was the “no.” 1 concern.

“These are stressful jobs; you can’t take your health for granted,” Hinch said. “As men in this sport, we often don’t ask for help, so I’m glad he’s good. On the management side, he’s a Hall of Famer. He’s done everything that every one of us who has ever held this position would dream of doing His accomplishments in different teams, different leagues, different jobs in his role in baseball and the number of players he touched, the staff he developed, his resume speaks for itself and his impact in the game should be respected forever.

The White Sox also made several roster changes. Outfielder Luis Robert will be closed for the season because discomfort from his sprained left wrist worsened after being hit by a pitch, Hahn said. Chicago placed Robert on the 10-day disabled list on Saturday. Outfielder Mark Payton has been recalled from Triple-A Charlotte.

Reliever Joe Kelly was reinstated from the family medical leave list and left-hander Tanner Banks was opted for Charlotte.

Shortstop Tim Anderson could return this season after being placed on the disabled list for a sagittal band tear in his left middle finger on Aug. 9, Hahn said. Anderson was expected to miss six to eight weeks.

“It’s really a question of whether it makes sense at this point in the year to try and rush into that two-week window or let nature take its course and send it completely healed to the end. offseason,” Hahn said.

Right-hander Michael Kopech’s right shoulder is doing well, but the White Sox have discussed when a knee cyst will be removed, Hahn said. Kopech went on the 15-day disabled list for right shoulder inflammation on September 17.

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Ukrainian missile hits hotel where RT correspondent was staying in Kherson

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Ukrainian Missile Hits Hotel Where Rt Correspondent Was Staying In Kherson
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var RT = RT || {}; RT.comScore = RT.comScore || {}; RT.comScore[“js-mediaplayer-632ff71987f3ec08f0140598”] = { id_nsStCi: “632ff71987f3ec08f0140598” };

var RT = RT || {}; RT.jwplayer = RT.jwplayer || {}; RT.jwplayer[“js-mediaplayer-632ff71987f3ec08f0140598”] = { file: “ image: “ “, // stretching: ‘fill’, title: “”, aspectratio: “16:9”, skin: { name: “five”, active: “#77bd1e”, background: “rgba(0, 0, 0, 0.5)”, inactive: “#FFFFFF” }, width: “100%”, startparam: “start”, sharing: {}, events: { onPlay: function(){ if(ga) ga(‘send’, ‘ event’, ‘JWPLAYER-GA’, ‘CLICK PLAY’, location.href); }, onPause: function(){ if(ga) ga(‘send’, ‘event’, ‘JWPLAYER-GA’, ‘CLICK PAUSE’, location.href); }, onComplete: function(){ if(ga) ga(‘send’, ‘event’, ‘JWPLAYER-GA’, ‘COMPLETE’, location.href); } }, };

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Pennsylvania police respond to ‘mass causation event’ after witnesses hear gunshots at theme park’s Fall Fest

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Pennsylvania Police Respond To 'Mass Causation Event' After Witnesses Hear Gunshots At Theme Park'S Fall Fest
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A heavy police presence gathered at Kennywood Park, an amusement park in West Mifflin, Pennsylvania, on Saturday night after gunfire was reported in the area. The possible shooting was classified as a “high casualty incident”.

Pennsylvania police and emergency service vehicles from multiple agencies responded to the scene to rescue and treat victims still trapped inside the park, which was especially crowded Saturday night as the park kicked off its Phantom Fall Fest. , reported WPXI-TV.

“There is one confirmed incident in Kennywood with reported injuries. My thoughts are with the victims of physical and mental injuries,” Pennsylvania State Rep. Nick Pisciottano tweeted.

Kennywood Park in Pittsburgh, Pennsylvania

Kennywood confirmed in a statement to Fox News Digital that visitors left the park while law enforcement remained inside.

“The park is closed for the night and all guests are out. We are aware of a situation that occurred tonight and are working with local law enforcement,” communications manager Tasha said. Pokrzywa, in an email. “The safety of our guests and crew members is our top priority. Members of the park, Allegheny County and West Mifflin security departments were already on site and responded immediately.”

JOSH SHAPIRO BETS HARSH MESSAGE ON CRIME, ECONOMY WILL SURPASS RED WAVE IN PENNSYLVANIA

It is not immediately known how many people were injured or the severity of their injuries.

Witnesses at the scene told WPXI that several people were lying on the ground, but it is unclear if they were shot.

“There’s no denying what I heard,” said a witness, confirming that he heard gunshots.

The incident happened around 10:45 p.m., minutes before the park was scheduled to close.

Pennsylvania Police Respond To 'Mass Causation Event' After Witnesses Hear Gunshots At Theme Park's Fall Fest

BIDEN COMMITS TO MORE GUN CONTROL AND FUNDING FOR POLICE IN ‘SAFER AMERICA PLAN’ DURING PENNSYLVANIA SPEECH

West Mifflin Borough Police are urging the public to avoid the area.

“Due to the current emergency services situation, there is an increased emergency services presence in the Kennywood Park area,” police said. “We ask that you avoid the area at this time.”

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The park was particularly crowded on Saturday night as Kennywood’s flagship October event, Phantom Fall Fest, a Halloween event for children and adults, began this weekend.

A witness told WPXI they believe the sound of gunshots was “a prop” used in a haunted house.

In 2016, a 26-year-old woman was shot dead near Kennywood Park during a July 4 celebration.

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Turkey-India Relations and the Need for Calculated Outreach

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CNBC-TV18 columnist and former diplomat Anil Trigunayat writes that Ankara must understand the economic imperative of India-Turkey bilateral relations to build a mutually beneficial relationship. A nuanced change is visible on both sides.

Overlooking distrust, especially when the writing on the wall has yet to be erased, is a difficult proposition. But then the entrenchment principle of discourse and international diplomacy is that there are no permanent friends or enemies but only national interests. It also implies that having a transactional exchange, to begin with, is desirable to break the ice for good before moving to a higher orbit in the collaborative matrix. This is also evident in recent high-level interactions between Indian and Turkish leaders.

Recently, on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Samarkand, the capital of Uzbekistan, Prime Minister Narendra Modi and Turkish President Recep Tayyip Erdogan met, followed by a meeting between the India’s External Affairs Minister Dr S Jaishankar and his Turkish counterpart on the sidelines of the United Nations General Assembly (UNGA), showing a conscious effort by both sides to repair barriers and move forward .
Prime Minister Modi had traveled to Turkey to attend the G20 summit and next year we expect President Erdogan to be in India for the next G20 summit. Ankara is expanding its footprints in the Eurasian region and wants to become a full member of the SCO as well as being part of the BRICS in addition to NATO, which could give it additional leverage to balance the geopolitical spectrum.

Although there is great potential and a perceived commonality of approaches and opportunities for mutually beneficial goals and undertakings between the two countries, the relationship has been marred by the “Pak factor” for decades, particularly in the Jammu and Kashmir (J&K) context.

Moreover, Ankara overlooked Pakistani complicity with extremist groups in cross-border terrorism against India. He not only raked in the inappropriate reference to J&K in international forums like UNGA and OIC etc. They must not forget that extremism and terrorism will turn against them too, whether in the so-called Kurdish revolt or for the Chinese in Xinjiang against the Uyghurs.
There is no disjunction as terrorist and extremist groups are well-oiled syndicates operating in all geographies and adept at exploiting societal fissures to their advantage. The recent crackdown by the People’s Front of India (PFI) – a terrorist group in India also indicates the direction and complicity of various Middle Eastern countries, several of which have closer strategic relations with India.

It was expected that after the Samarkand meeting between the two principals, President Erdogan could refrain from his rhetoric on Kashmir at the UNGA. But old habits die hard. He couldn’t resist the temptation even though it was lightly voiced compared to previous times when New Delhi condemned and rejected them or was disturbed.

Erdogan apparently wanted to be the paragon of peace, despite the militarization of his own foreign policy from Syria to Libya to Nagorno-Karabakh and the Mediterranean, when he uttered “India and Pakistan, after having established their sovereignty and independence 75 years ago, they have always ‘t established peace and solidarity among themselves. This is very unfortunate. We hope and pray that a just and permanent peace and prosperity will be established in the Cashmere”.

If they were really interested in peace, they could have convinced Islamabad to give up the affliction of a destructive syndrome. Of course, his penchant for Islamic leadership and the Ummah often skips school on the hidden agenda. India rejected Erdogan’s comment saying “the reference to Kashmir by other countries in the UNGA does not matter”.

A nuanced change is visible on both sides. Many would say the two should go a bilateral route, but foreign policy is a holistic and serious matter. The joint working group on counter-terrorism and India-Turkey policy planning dialogue needs to meet more so that the threshold of trust tolerance can be lowered.

But today’s India is quick and nimble in delivering a ‘tick for tat’ in a spirit of reciprocity and disdain. During his meeting with the Turkish Foreign Minister, Dr S Jaishankar also raised the issue of Cyprus (which has been simmering since 1974) to be resolved in accordance with UNSC resolutions.

Jaishankar tweeted “Met FM @MevlutCavusoglu from Turkiye on the fringes of #UNGA. Wide-ranging conversation that covered Ukraine conflict, food security, G20 processes, world order, NAM and Cyprus”. India has also increased its strategic outreach to Greece and Egypt and the I2-U2 group as well as other Eastern Mediterranean powers, including enhanced defense collaboration with them.

Ankara must understand the economic imperative of the bilateral relationship and the historical connection between P2P and Bollywood and the bonhomie of Turkish soap operas, Sufi affection and support during the Khilafat movement, if nothing else. These are the edifice on which the mutually beneficial relationship across the spectrum can be rebuilt. However, if needling is the game, so be it.
But it has been observed recently that Turkey has become a major mediator in several conflict areas, including the Russian-Ukrainian war and even in exercising its ambitious and somewhat independent “Blue Home Land” foreign policy, Ankara has started to refine it. a bit as he has embarked on a frenzy of rapprochement with his former rivals and competitors in Saudi Arabia, the United Arab Emirates and Egypt as well as Israel, even if he is motivated by his economic constraints.
India is already a strategic friend with them, hence Ankara’s continuing to undermine the interests of a potentially beneficial relationship with New Delhi is illogical to say the least. Apparently, Turkey has supported India’s membership of the Nuclear Suppliers Group (NSG) and MTCR regimes, while taking an ambivalent stance on India’s claim to a seat at the Iron Table at UNSC horse. Good beginnings could hopefully lead to positive results.

— The author, Anil Trigunayat, is a former Indian ambassador and heads the West Asia Expert Group at the Vivekananda International Foundation. The opinions expressed are personal.

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Cole Beasley gives Tom Brady another target as Bucs meet Packers’ Aaron Rodgers – The Denver Post

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Cole Beasley Gives Tom Brady Another Target As Bucs Meet Packers' Aaron Rodgers - The Denver Post
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Three days after signing veteran wide receiver Cole Beasley to their practice squad, the Tampa Bay Bucs announced they were raising him for tonight’s home opener against the Green Bay Packers.

Beasley, 33, was moved with veteran guard John Molchon, who has spent the majority of the past two seasons on Tampa Bay’s practice squad. Realistically, Beasley could provide a handful of quality reps for a unit that will be without Mike Evans (one-game suspension) and Chris Godwin (hamstring), and could miss Julio Jones (knee).

Jones will be a game-time decision, coach Todd Bowles said Friday.

“[Beasley’s] fast, catch up [really] fast, he understands the system,” added Bowles. “He’s played and he’s got a lot of reps under him, so if we needed him I think he’ll be ready.”

Green Bay (1-1) at Tampa Bay (2-0)

Sunday, 4:25 p.m. ET, WOFL-35

Betting line: 1½ Buccaneers, according to FanDuel SportsBook.

Against the spread: Packers 1-1, Buccaneers 2-0.

Series record: The Packers lead 33-23-1.

Last meeting: The Bucs defeated the Packers 31-26, NFC Championship Game, Jan. 24, 2021, in Green Bay.

Last week: The Packers beat the Bears 27-10; The Buccaneers beat the Saints 20-10.

Infringement by packers: Total (11), rush (6), assist (20), score (23).

Packers defense: : Total (10), rush (27), pass (4), score (7).

Bucs offense: : Total (24), rush (13), assist (23), score (18).

Bucs offense: : Total (5), rush (T9), pass (8), score (1).

Revenue differential: Packers minus 2; Bucs plus-4.

Packers player to watch: RB Aaron Jones. He’s coming off a huge performance in which he rushed for 132 yards and a touchdown on 15 carries and caught 3 passes for 38 yards and another score. Jones struggled in the Packers’ two losses to Tampa Bay in 2020. He rushed for 15 yards on 10 carries in the regular season game and had a critical fumble in the NFC Championship Game while taking a blow that knocked him out for the rest of the day.

Bucs players to watch: QB Tom Brady. He didn’t need to be at his best the past two weeks to beat Dallas and New Orleans on the road, mostly because the Bucs defense was so dominant. In two games, he had 402 yards, 2 touchdowns and 1 interception after leading the NFL in completions, attempts, passing yards and touchdowns last season. The challenge this week is to get the Bucs’ offense rolling despite first receiver Mike Evans serving a one-game suspension and the status of two other key playmakers, Chris Godwin and Julio Jones, in the air. Brady is 5-2 and has thrown for 15 touchdowns in 7 career starts against Green Bay, including the playoffs.

Key match: Packers QB Aaron Rodgers against the Bucs’ defense, which has a league-leading 10 sacks and allowed just one touchdown in two games. Tampa Bay forced 5 turnovers against the Saints last week and leads the league in the fewest runs allowed (13) and is tied for second in opposing first downs per game (15) and in opposing third down conversion rate (25%).

Key injuries: Packers OT David Bakhtiari is yet to play this season and has only played one game since tearing his left anterior cruciate ligament on December 31, 2020. Godwin (hamstring) and Jones (knee ), as well as Bucs LT Donovan Smith (elbow) did not play against the Saints. Their status for this week is uncertain.

Notes on the series: The Packers have won three of the past four regular season matchups between former NFC Central rivals.

Stats and tips: The Packers and Bucs have the NFC’s two best regular season records since 2020. The Packers are 27-8 in the regular season, while the Bucs are 26-9. … This is only the fifth time Brady and Rodgers have faced off as starting quarterbacks. Brady’s teams have won three of four previous matchups, including Tampa Bay’s 31-26 NFC Championship Game win at Green Bay in the Bucs’ 2020 Super Bowl-winning season. Rodgers’ only win over a team managed by Brady was Green Bay’s 26-21 home triumph over New England in 2014. … The Packers allowed just one third conversion and 7 assists on the week last against the Bears. The 7 completions were the fewest they had allowed in a game since 2005. … Rodgers threw 2 touchdown passes last week to bring his career total to 451, becoming the fifth NFL player to have at least 450. Brady leads the way with 626. … The Packers committed just 5 penalties, the lowest total of any NFL team. … Green Bay’s Aaron Jones and AJ Dillon are the first Packers running back tandem to each have 20+ carries and 100+ yards rushing in the first two games of a season since John Brockington and MacArthur Lane in 1973 … Packers OLB Preston Smith had 2 sacks and a team-high 7 tackles against the Bears. … This game will represent a homecoming for Packers rookie WR Christian Watson, a second-round pick from North Dakota State who went to Plant High School in Tampa.

Fancy tip: Bucs RB Leonard Fournette. He is fifth in the NFL rushing with 192 yards, including 127 against the Cowboys. With Evans out, Brady is also thinking of trying to use him more in the passing game. … The Packers allowed Chicago’s David Montgomery to rush for 122 yards on just 15 carries. Dalvin Cook ran for 90 against them a week earlier.

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