LABOR, ECONOMY & THE CLIMATE - page 43

A key Republican financial regulator continued his crusade this week against a proposed rule on speculation, repeating claims that the practice doesn’t have a negative impact on markets. Commodity Futures Trading Commission member Christopher Giancarlo said that although the body is moving forward with the regulatory work mandated by the landmark Wall Street reform law, “there was a complete lack of real data supporting the need to enact position limits,” particularly in energy markets. He then cited the energy spike before the worldwide economic collapse of… Keep Reading

The Federal Reserve on Thursday announced that it would leave key interest rates unchanged with a statement that suggested China’s summer stock market woes informed their decision. “Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term,” the Fed’s Board of Governors said. The central bank suggested that it would in a few months increase wholesale borrowing costs. In charts published by the Fed alongside its statement, 13 out of… Keep Reading

The agency in charge of overseeing the nation’s railway network is promising to move ahead with heavy fines, with a majority of railroad operators set to miss a Dec. 31 deadline by which to update key safety features. Acting head of the Federal Railroad Administration Sarah Feinberg said Thursday the US would proceed with the penalties, despite lawmakers and industry officials growing jittery about their economic impact. “The deadline is not going to be met, that is disappointing to me and I think that has… Keep Reading

The onset of football season in the US this year has been accompanied by a massive advertising push by one-day sports fantasy leagues promising customers immediate fortunes if they win—a marketing blitz that has caught the attention of at least one suspicious lawmaker. In an interview on Tuesday, Rep. Frank Pallone (D-N.J.) took a swipe at partnerships between sports leagues and teams and companies like FanDuel and DraftKings that have promised to pay out over two billion dollars in winnings this year alone. Rep. Pallone… Keep Reading

Although more Americans are turning to e-cigarettes for their nicotine fixes, a new government study found that the rise of vaping has had little impact on decreasing traditional tobacco tax revenues. In a study released Monday, the Government Accountability Office “found no current evidence” that the burgeoning, multi-billion dollar e-cigarette industry is depressing cigarette tax revenue, which has been declining by roughly $5 million per month over the last six years. The main reason why the e-cigarette industry doesn’t appear to be impacting its conventional… Keep Reading

It’s not exactly the place you’d expect to see a Democratic candidate stump for president, but Sen. Bernie Sanders was at the world’s largest Christian college on Tuesday, challenging students to join him in his crusade against inequality. An auditorium of 10,000 people at Liberty University welcomed the surging presidential hopeful who now leads former Secretary of State Hillary Clinton in some polls in both Iowa and New Hampshire—the first two contests on the Democratic primary schedule next year. Sanders began his remarks by acknowledging… Keep Reading

As pressure builds on Congress to keep the government funded this fall, progressive groups called on lawmakers and President Obama to oppose “inappropriate and ideological” proposals tacked on to must-pass legislation. The groups–which included Public Citizen, the AFL-CIO, the NAACP, the National Organization for Women, and 174 others–warned in a letter sent Thursday that Republican-dominated congressional committees have already marked up budgetary legislation containing policy riders that would hinder key regulatory agencies. “These inappropriate riders are being inserted to advance the priorities of special interest… Keep Reading

The administration touted a report which stated that food insecurity fell to its lowest point last year since the 2008 global financial crisis, but Americans’ worst nutritional woes remained unchanged. The annual Department of Agriculture survey released Wednesday found that the rate of those suffering “very low” food insecurity in 2014 held steady at 5.6 percent. The rate of those considered “food insecure” fell to 14 percent, from 14.7 percent. Agriculture Secretary Tom Vilsack said that the findings of the survey show food security “is… Keep Reading

The Department of House and Urban Development sent a bulletin to its employees and contractors Tuesday, warning them of potential scams and dangerous confrontations involving anti-government extremists illegally occupying federal housing. The alert, which came from HUD’s Office of Inspector General, alleged that sovereign citizens are increasingly taking advantage of state laws that aim to redistribute department-owned properties. “The Federal Bureau of Investigation (FBI) and HUD OIG have noticed a resurgence of sovereign citizen fraud in HUD programs,” the IG said, stating that over the… Keep Reading

A public interest group battling the Obama administration in court over the release of information about Arctic drilling claimed the Justice Department is asking Shell for permission to publish 5,000 records. Public Employees for Environmental Responsibility (PEER) said Thursday that an Assistant US Attorney handling the case on behalf of the Department of the Interior informed the group that the oil conglomerate will be able to review the records to determine if they contain trade secrets exempt from disclosure. “It appears that the Obama administration… Keep Reading

Presidential hopeful Sen. Bernie Sanders (I-Vt.) is putting pressure on his opponents in the Democratic primary to stand in solidarity with workers agitating for a federal $15 per hour minimum wage—a stand that front-runner Hillary Clinton has been unwilling to take. “The current federal minimum wage is a starvation wage, and it must become a living wage,” Sanders wrote in a message to supporters on Wednesday. “I believe that position should be adopted by all of the candidates running for president,” he added. “Sadly, that… Keep Reading