Anna's Daybreak News

Wednesday, 5:19 AM

September 11, 2024

Good morning news friend! Stay up to date with the latest developments, following the ever-changing flow of current events. 📰🌟

Harris and Trump Duke it Out in First Debate

Kamala Harris and Donald Trump focused the debate on housing, taxes, tariffs, inflation and abortion.

Kamala Harris' Policies:

• Increase child tax credit from $2,000 to $6,000 annually.

• Provide a $50,000 tax deduction for small businesses.

• Address housing shortages to lower home prices and rents.

• Oppose Trump’s stance on abortion, emphasizing the right for women to make their own decisions.

Donald Trump's Policies:

• Cut taxes across the board.

• Impose tariffs on foreign countries, especially targeting China.

• Criticize Biden-Harris administration for high inflation.

• Focus on illegal immigration, arguing it affects job opportunities for African American and Latino workers.

Note: My aim isn’t to favor either candidate. Only to show their policy points as unbiasedly as possible.

Source: Read More

Fed Halves Capital Requirement for Largest Banks

The Federal Reserve cut the proposed capital cushion for large banks like JPMorgan, Bank of America, and Citigroup by over 50%. The original plan sought a 19% increase but now proposes only a 9% rise.

Medium-sized banks with assets between $100 million and $250 million, are exempt from these new requirements. Meanwhile, the smallest banks will face a 0.5% increase.

This change forms part of the Basel III endgame, a global plan to prevent banking crises.

Rob Nichols from the American Bankers Association warned that even a 9% increase comes with economic costs.

 Source: Read More

Economic Update: Income Gains and Persistent Poverty Rates

The Census Bureau reported that median income climbed 4% to $80,610 in 2023, reaching pre-pandemic levels. However, this figure is still $600 less than in 2019.

Men's full-time earnings grew by 3.0%, while women's increased by 1.5%. 

The supplemental poverty rate increased to 12.9% from 12.4% in 2022. The official poverty rate fell to 11.1% from 11.5%. Child poverty rose to 13.7%.

2.1 million additional full-time workers were added in 2023, averaging 250,000 new positions per month. Inflation dropped from a high of 7.1% in June 2022 to 2.5% currently. 

Source: Read More

Augmented Reality Cops in California?

Police departments in California are testing Apple’s Vision Pro for enhanced surveillance capabilities.

The Orange County Sheriff’s Department uses it to visualize maps, deploy officers, access crime databases, and manipulate data in a 3D environment.

Police spending exceeds $100 billion annually, with a rising focus on technology.

Officers will use augmented reality overlays to access critical data during operations, improving decision-making and safety.

Source: Read More

“If someone is making an effort to ignore you, he is not ignoring you”

Baked with love,

Anna Eisenberg ❤️