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US Inflation Warning: Summers Says Inflation is Top Issue on Fed Policy (Bloomberg)
Former Treasury Secretary Lawrence Summers cautioned that the Fed’s recent rate cut risks leaving monetary policy too loose, warning inflation is now the greater threat to the U.S. economy than job losses.
He urged the central bank to guard its credibility on inflation despite political pressure for deeper cuts and criticized Trump’s push to weaken corporate reporting rules as a blow to market transparency.
Today's Agenda: Trump, Xi to Hold Call as TikTok, Tariffs and Nvidia Loom Large (Bloomberg)
President Trump’s call with Chinese President Xi Jinping takes place at 9 AM ET this morning, marking their first direct engagement since June with TikTok and a tariff truce high on the agenda.
A framework deal was reached earlier this week for TikTok’s US operations to be acquired by a consortium including Oracle, Andreessen Horowitz, and Silver Lake, but Trump and Xi will need to finalize it during their conversation.
The call comes amid a 90-day pause in spiraling tit-for-tat tariffs and lingering disputes over Nvidia, rare earth minerals, and potential Chinese orders for Boeing jets.
Immunization at Risk: CDC Panel Votes to Limit MMRV Vaccines
(Axios)
Yesterday,
a federal vaccine panel backed by Health Secretary RFK Jr. voted to stop recommending the combined measles, mumps, rubella, and chickenpox shot for children under 4 and postponed a decision on newborn Hepatitis B shots.
The moves drew sharp criticism from doctors, who warn the changes could undermine trust in vaccines and put children’s health at risk.
New Scam Playbook: The Rise of the "Supervisor" Zelle Scam (New York Times)
A new wave of Zelle scams uses spoofed bank phone numbers, case codes, and even fake “supervisors” to create a convincing illusion of legitimacy.
With US internet fraud losses topping $16.6 billion in 2024, authorities warn that these manipulative tactics are designed to pressure victims into sending money before they can stop to think.
Gun Violence in America: 3 Police Officers Killed and 2 Injured in Shooting in Southern Pennsylvania (New York Times)
US Allies Act: Canada, Mexico to Ink Strategic Partnership Before USMCA Review (Bloomberg)
The leaders of Canada and Mexico met in Mexico City on Thursday, without their US counterpart, after months of chaotic trade talks and tariff threats that have strained North American ties.
Prime Minister Mark Carney and President Claudia Sheinbaum focused on expanding trade in autos and parts, boosting cooperation in energy, mining, agriculture, and natural gas, and stepping up joint efforts on border security.
Both also coordinated on strategies for handling President Trump, whose uneven policies toward Canada and Mexico had strained ties despite deep economic interdependence.
NYC Next Week: Bloomberg Philanthropies Announces Additional Speakers And Notable Attendees For 2025 Global Forum On September 24 (Bloomberg.org)
Next week, more than 50 Heads of State, UN General Assembly Heads of Delegation, and Ministers representing Africa, the Caribbean, Europe, Asia, and the Pacific will gather in New York City at the Bloomberg Philanthropies Global Forum.
Today, Bloomberg Philanthropies announced an expanded roster of influential speakers and participants. The Forum will feature Jane Goodall, Mo Abudu, Bruce Flatt, and Ruth Porat, who will join Mike Bloomberg, Bill Gates, Adam Silver, Shemara Wikramanayake, Ajay Banga, Djimon Hounsou, Dr. Sidi Ould Tah, Henry M. Paulson, Chiney Ogwumike, and Masai Ujiri on stage as leading voices.
The Global Forum serves as a premier platform for cross-sector dialogue, convening world leaders, innovators, and changemakers to address today’s most pressing global challenges.
Daily Read Podcast: Stream today’s AI-generated companion to this newsletter on Spotify or Apple Podcasts.
Entertainment Alert: Ticketmaster, Live Nation Sued by FTC Over Ticket Resales (Bloomberg)
Live Nation Entertainment Inc. and its Ticketmaster subsidiary have been sued by the Federal Trade Commission and seven states for allegedly failing to stop bots and large-scale resellers from bypassing ticket purchase limits, enabling inflated resale markets.
The lawsuit claims the company “triple dipped” on fees, collecting $3.7 billion from resales since 2019 in violation of the Better Online Ticket Sales Act, a US law banning ticket-buying bots.
NYC Weekend Plans: The 100-Mile-Long NYC Century Bike Tour is Coming Back After Six Years (Time Out Magazine)
Enjoy this last weekend of summer: Returning on Sunday, September 21, the NYC Century Bike Tour will once again welcome riders of all levels to explore up to 100 miles of the city’s cycling infrastructure, through vibrant neighborhoods, parks, and greenways. Register here by 12 PM ET today.
The ride got its start in 1990, but grew significantly as NYC became more bike-friendly under
Mike Bloomberg's mayoralty
in which his administration laid down more than 470 miles of bike lanes, quadrupling commuter cycling while keeping serious crash numbers flat.
In 2013, Mike's administration launched CitiBike, instantly the nation’s largest bike-share program and a lasting symbol of New York’s shift toward healthier, low-carbon mobility and cementing a legacy that urban planners worldwide now study as a blueprint for bike-friendly growth.
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