Fed meeting expected to leave U.S. bond-stock relationship out of whack

The Federal Reserve's whatever-it-takes approach to stave off economic calamity has kept interest rates near zero and helped drive U.S. stocks back to pre-pandemic record levels, while weakening the usual dynamic between safe-haven U.S. Treasuries and riskier equities. Stocks and bonds' moving in parallel is one of the distortions Fed policy makers may ponder when they meet next week, although they are expected to let the emergency measures already implemented in the wake of the coronavirus outbreak work through the financial system. The recent rise in Treasury prices, which typically climb when investors seek safe harbors during uncertain times, appears at odds with the exuberance seen on Wall Street, where the S&P 500 last week came within 3.5% of its February all-time high, set before it was clear the spread of COVID-19 would wreak havoc around the world.

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Could America be seeing a 'K-shaped recovery' from the coronavirus crisis?

US economists have begun talking about a “K-shaped recovery” from the coronavirus crisis amid signs of stark differences in the impact on the richest and poorest Americans. It is based on the idea that wealthy Americans will quickly recover from the financial freeze triggered by the virus, keeping their jobs and seeing the value of assets rise. However those lower down the income scale, such as blue collar workers, are bearing the brunt of the redundancies and could be facing years of financial peril. Hence the idea that one cohort will bounce back from the economic impact of the pandemic rapidly - the upwards kick of the K - while another will drop down into long-term financial challenges. The model is being offered as an alternative to the “V-shaped recovery”, where the economy as a whole quickly starts growing again - something Donald Trump, the US president, is targeting.

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Colorado kindergarten teacher faces possible firing for alleged comments about students with special needs

A Colorado kindergarten teacher is under investigation for 'despicable' comments about students with disabilities, officials say

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There's reportedly a 'contingent' of Democrats lobbying against Kamala Harris as Biden's running mate

As presumptive Democratic nominee Joe Biden nears his running mate decision, some allies are reportedly warning him against tapping one of the top contenders.A Monday report from Politico describes how there's a "contingent of Democrats who are lobbying against" Sen. Kamala Harris (D-Calif.) as Biden's running mate pick, and some have "expressed concerns about her to the vetting committee in recent weeks," with the issues mainly coming down to "the matter of trust."Among those casting doubt on Harris is reportedly former Sen. Chris Dodd, who Politico says has concerns about Harris that are "so deep that he's helped elevate" Rep. Karen Bass (D-Calif.) during the running mate search instead. An anonymous Biden supporter and donor said Dodd was shocked when he asked Harris about her takedown of Biden during the first Democratic debate, when she famously went after him for his record on busing. She apparently "laughed and said, 'that’s politics.'"A separate Politico report says Biden wants someone who is "loyal, trusted, experienced, apolitical, someone with whom he will bond" as his running mate, and "if Biden's demand for loyalty is paramount, several top Democrats questioned whether Harris would be the right choice." The California senator does still look to be among the likeliest picks, but as Biden's announcement nears, former Senator Harry Reid told Politico, "I don't think Kamala Harris has it in the bag." Read more at Politico.More stories from theweek.com The Lincoln Project savagely reminds America of everything it has lost due to 'Trump's virus' The feds say they won't leave Portland until the violence stops. Privately, they concede they're fueling that violence. Trump reportedly scheduled his own Yankees 1st pitch because he was jealous of Fauci

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A former Border Patrol agent describes the special federal unit deployed in Portland as one of 'the most violent and racist in all law enforcement'

The specially trained officers are the "biggest guys, like the jocks in a football team," former Border Patrol agent Jenn Budd told The Guardian.

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A man who was killed during a Black Lives Matter protest in Austin, Texas, was an Air Force veteran and a full-time caretaker for his fiancée

Garrett Foster, 28, was fatally shot by a motorist during a Black Lives Matter protest in Austin, Texas, on Saturday night.

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Benny Tai: Hong Kong university fires professor who led protests

Benny Tai, a law professor, called the move "the end of academic freedom" in Hong Kong.

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Two women arrested for attacking senator filming Wisconsin protests

Two women have turned themselves in to police after allegedly assaulting a Wisconsin state representative at a protest on 23 June.Samantha Hamer, 26, and Kerida O’Reilly, 33, were arrested Monday in Madison after turning themselves in to authorities.

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The Bidens, Pences, lawmakers pay their final respects as John Lewis lies in state at U.S. Capitol

The late civil rights icon Rep. John Lewis (D-Ga.) was honored in the U.S. Capitol on Monday, lying in state in a flag-draped coffin under the dome of the Capitol Rotunda as Senate Majority Leader Mitch McConnell (R-Ky.), House Speaker Nancy Pelosi (D-Calif.), and others commented on his legacy. Earlier in the day, the hearse carrying Lewis passed by the Lincoln Memorial, the Martin Luther King Jr. memorial, and Black Lives Matter Plaza, the site of his final public appearance before dying from cancer July 17.Pelosi ceremonially handed the floor to Lewis, and a recording of a speech he gave at Emory University in 2014 echoed in the Rotunda, his voice urging graduating seniors to "get in the way" and get in "good trouble, necessary trouble." The lawmakers gave him a standing ovation.Former Vice President Joe Biden, the presumptive Democratic presidential nominee, and his wife, Jill Biden, were among those who then filed past his casket and paid their final respects.Vice President Mike Pence and his wife, Karen Pence, also paid their respects Monday evening as the casket was carried outside to the top of the Capitol steps, where the public can say their farewells from the bottom of the steps, face masks required.Embed from Getty ImagesPresident Trump said earlier Monday he would not be attending any memorial events for Lewis.Lewis is the first Black legislator to lie in state in the Capitol Rotunda. His friend Rep. Elijah Cummings (D-Md.) became the first Black lawmaker to lie in state in the Capitol last year, in the National Statuary Hall. The long funeral procession for Lewis started Saturday in his home town of Troy, Alabama, crossed Selma's Edmund Pettus Bridge, and will continue on to Atlanta on Wednesday to lie in state in the Georgia Capitol before his funeral at the historic Ebenezer Baptist Church, where King preached.More stories from theweek.com Even mild coronavirus cases can cause lasting cardiovascular damage, study shows Trump: 'Nobody likes me' Why Trump's invasion of Portland is textbook fascism

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The Bahamas is letting in American travelers again — but only after tourists pay for a mandatory 14-day quarantine in a government facility

Previously, only US tourists who arrived on a private plane or boat were allowed into the Bahamas. Meanwhile, EU borders remain closed to US tourists.

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‘Nobody Likes Me,’ Trump Complains, Renewing Defense of Dubious Science

By BY MICHAEL CROWLEY from NYT U.S. https://ift.tt/2X8PVW2

Corrections: July 29, 2020

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The Director Gina Prince-Bythewood Has Always Had Game

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177 Questions to Inspire Writing, Discussion, Debate and Reflection

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Andrea Bocelli, who had COVID, says lockdown humiliated him

Italian tenor Andrea Bocelli, who recovered from COVID and whose moving Easter performance sought to raise hopes during the pandemic, is striking a different public note, saying Italy’s lockdown made him feel “humiliated and offended” by depriving him of his freedom. Bocelli spoke at a panel Monday in a Senate conference room, where he was introduced by right-wing opposition leader Matteo Salvini, who has railed against the government’s stringent measures to combat the coronavirus outbreak. At the time, Bocelli said that when he learned on March 10 that he had tested positive, just as the nation was going into lockdown, “I jumped into the pool, I felt well” and had only a slight fever.

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Mold from Chernobyl seems to feed on radiation, and new research suggests it could help protect astronauts in space

Researchers took mold that grows in the Chernobyl exclusion zone and blasted it into space. It may help protect astronauts from radiation.

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The World's Largest Fusion Reactor Finally Begins Assembly

The 23,000-ton ITER tokamak has been brewing for decades. Now it's go time.

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Reagan Foundation distances itself from Trump campaign and the president isn't pleased

Don't win this for the Gipper, Mr. President. The Reagan Foundation is distancing itself from President Donald Trump's reelection campaign. CNN reports that the organization representing the interests and legacy of late President Ronald Reagan reached out to Trump's campaign last week to ask that that they stop hawking a commemorative coin set featuring the two presidents to raise money. The ...

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Texas 'is never going to happen,' Biden adviser admits. But 'Georgia is real.'

Former Vice President Joe Biden, the presumptive Democratic presidential nominee, and his campaign team are playing it cool for now even as some Democrats are calling for bolstered efforts to potentially win in Georgia and Texas. But it doesn't sound like the latter will ever get much consideration, The Washington Post reports."Texas is 22 [expletive] media markets," one Biden adviser told the Post. "That is never going to happen. It's just not going to happen. Everyone knows that. I don't know why people are still even talking about it."Georgia, though, has more potential to be flipped blue, and the adviser admitted the campaign will eventually have to make a decision on whether to invest resources there. "Georgia is real," the adviser said.Still, the adviser said that choice won't be made until "we feel really comfortable about the six core states" — Michigan, Wisconsin, Pennsylvania, Arizona, North Carolina, and Florida — adding that there's "plenty of time" to get more involved in Georgia. Read more at The Washington Post.More stories from theweek.com Even mild coronavirus cases can cause lasting cardiovascular damage, study shows AMC is ending its ban on Universal movies as part of a landmark agreement Why Trump's invasion of Portland is textbook fascism

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A California man spent over two months in a hospital battling coronavirus and returned home with most of his fingers gone

Gregg Garfield was the first coronavirus patient at Providence St. Joseph Medical Center in Burbank, California, local news reported.

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Pilgrims arrive in Mecca for downsized hajj amid pandemic

Muslim pilgrims have started arriving in Mecca for a drastically scaled-down hajj, as Saudi authorities balance the kingdom's oversight of one of Islam's key pillars and the safety of visitors in the face of a global pandemic. This year, Saudi Arabia's Hajj Ministry has said between 1,000 and 10,000 people already residing in the kingdom will be allowed to perform the pilgrimage. Two-thirds of those pilgrims will be from among foreign residents in Saudi Arabia and one-third will be Saudi citizens.

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Man arrested in Florida after trying to kidnap child in front of mother

A man has been arrested in Florida after he reportedly walked into a hotel room and attempted to kidnap a child in front of their mother.The suspect, 24-year-old Gabriel Martin, was arrested by authorities on Sunday on suspicion of kidnapping, according to the Hillsborough County Sheriff’s Office.

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Stop partying or we may go back into lockdown, regional chief tells young Catalans

Young Catalans should stop partying to help halt a surge in new coronavirus cases or local authorities may have to reimpose harsh restrictions, the leader of the northeastern Spanish region said on Monday. Catalonia is at the heart of a rebound in coronavirus cases in Spain that started after a nationwide lockdown was lifted last month. "If we continue with the current pace of social life the only thing we will accomplish is to worsen the situation," Catalonia's regional leader Quim Torra said, after youngsters reverted to the tradition of "botellones," where they meet outside in the evening to drink and party.

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