The new chairman of the Federal Reserve, Jerome Powell, made his public debut Tuesday, saying his expectations for domestic economic growth within the year have increased while maintaining a cautious tone. Powell told the House Financial Services Committee that he is not worried by recent stock issues and is committed to ‘clearly explaining’ Fed thinking.
A New York federal appeals court ruled, Monday, that Title VII of the 1964 Civil Rights Act bans employers from discriminating against workers based on sexual orientation. The decision is a loss for President Trump’s Justice Department, which argued the law did not cover sexual orientation. The ruling could still be appealed to the Supreme Court.
The Syrian government launched new ground attacks against a rebel-held enclave, Sunday, while continuing the air bombings which have killed more than 500 people in the past week, despite a United Nations ceasefire resolution. The UN security council unanimously voted, Saturday, for a month-long ceasefire to allow medical evacuations and delivery of humanitarian aid across Syria.
Following a tweet from Kylie Jenner, Wednesday, saying she no longer uses Snapchat, the company’s stock price fell about 6%, representing a $1.3 billion loss in value. The tweet came after Snapchat redesigned the app, a change which one million people signed a petition asking the company to retract.
President Trump announced, Tuesday, he has signed an order directing Attorney General Jeff Sessions to propose regulations to ban bump stocks and other devices that turn semi-automatic guns into ‘machine guns.’ The proposal comes in the aftermath of the Florida school shooting and last year’s Las Vegas concert attack, where a bump-stock device was used.
Following last week’s Florida school shooting, President Trump is ‘supportive of efforts to improve the federal background check system,’ according to White House press secretary Sarah Sanders. Surviving students called for a march on Washington to demand gun control reform. Named ‘March for Our Lives,’ the event will happen across the US on March 24th.
Senators failed to advance a bipartisan proposal, Thursday, to resolve the future of millions of young undocumented immigrants, known as Dreamers, in addition to supporting $25 billion in border security among other measures, with a final vote of 54-45. A competing proposal from the White House also failed with a final vote of 39-60.
After a difficult few years for Chipotle, Steve Ells, the founder of Chipotle, will be replaced as chief executive on March 5th by Brian Niccol, the chief executive of Taco Bell. Ells said Niccol’s expertise will help Chipotle, ‘as we seek to enhance our customer experience, drive sales growth and make our brand more relevant.’
A former student entered his Florida high school, Wednesday, unleashing gunfire and killing 17 students and faculty, according to authorities. Marjory Stoneman Douglas High School, a public school outside of Boca Raton, will be closed for the rest of the week. The suspect, 19-year old Nikolas Cruz had been expelled for disciplinary reasons.
Ahmad Khan Rahimi, who planted a bomb that exploded in Chelsea, Manhattan, in 2016, was sentenced to two life terms in prison, Tuesday. Rahimi, an Afghan-born immigrant, neither admitted nor denied planting the bomb, saying he grew to understand ‘why there is such a big frustration between the Muslims overseas and the American people.’