Tag Archives: Raise

Republicans Effectively Voted to Raise Taxes. They’re Fine With That. – The Wall Street Journal

  1. Republicans Effectively Voted to Raise Taxes. They’re Fine With That. The Wall Street Journal
  2. Rep. McHenry supports legislation to raise debt ceiling, limit government spending Iredell Free News
  3. U.S. Debt Ceiling Crisis Nears: How This Could Create Turmoil In The Financial World | U.S News CNN-News18
  4. Oklahoma reps laud Republican debt limit bill’s passage Tulsa World
  5. House Republicans Pass Limit, Save, Grow Act to Rein in Wasteful Spending and Grow the Economy – House Committee on Ways and Means Ways and Means Committee
  6. View Full Coverage on Google News

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Democrat lawmaker interrupts Marjorie Taylor Greene’s transphobic rant to raise assault weapons ban – The Independent

  1. Democrat lawmaker interrupts Marjorie Taylor Greene’s transphobic rant to raise assault weapons ban The Independent
  2. Nashville congressman responds to radical trans group: Turning shooter into ‘martyr’ is ‘beyond disturbing’ Fox News
  3. March 29, 2023: Nashville shooter had ’emotional disorder,’ small arsenal, AI, Pence, Taiwan, Biden Reuters
  4. Trans activist calls Nashville school ‘right-wing institution’ day after mass shooting WZTV
  5. We must reject the transphobic narrative around Nashville The Independent
  6. View Full Coverage on Google News

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Living near a ‘food swamp’ could raise stroke risk in adults 50 and older: research – The Hill

  1. Living near a ‘food swamp’ could raise stroke risk in adults 50 and older: research The Hill
  2. Do You Live in a ‘Food Swamp’? It Could Be Raising Your Heart Risk U.S. News & World Report
  3. Living near a ‘food swamp’ could increase your risk of deadly illness… The US Sun
  4. Mexican American stroke survivors more likely to use less intensive forms of rehabilitation than non-Hispanic patients News-Medical.Net
  5. Black Stroke Survivors Less Likely to Get Treated for Complications U.S. News & World Report
  6. View Full Coverage on Google News

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The 12 lifestyle factors which raise risk of dementia REVEALED

Hundreds of thousands of dementia cases could be stopped if people took more steps to prevent it, new data suggests.

Regular hearing checks, seven hours of sleep a night and more exercise are among 12 lifestyle factors that could slash a person’s chances of dementia by up to 40 per cent.

But only a third of Brits know that there are things they can do to help keep dementia at bay, according to new data from Alzheimer’s Research UK.

And just one in 50 people are doing everything they can to ward off the disease, a survey found.

Regular hearing checks, seven hours of sleep a night and more exercise are among 12 lifestyle factors that could slash a person’s chances of dementia by up to 40 per cent 

The 12 steps to cut your risk of dementia

  • Getting at least seven hours of sleep a night
  • Regularly challenging the brain 
  • Looking after mental well-being 
  • Staying socially active 
  • Looking after your hearing 
  • Eating a balanced diet 
  • Staying physically active
  • Quitting smoking 
  • Drinking responsibly
  • Keeping a healthy level of cholesterol 
  • Maintaining healthy blood pressure 
  • Managing diabetes as well as possible
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Experts suggested simple steps – such as hearing tests in our 30s and 40s – could help drive down dementia rates and have called for brain health to become a greater part of the NHS Health Check.

The charity is launching an online survey for people to see how they score on modifiable risk factors, and what they can do now to boost their chances of avoiding it in future.

Around 900,000 people in the UK and 7million in the US have dementia, an umbrella term used for several brain diseases that affect memory, thinking and cognition.

In 2020, the Lancet Commission concluded up to 40 per cent of cases could be prevented or delayed by targeting 12 modifiable risk factors, including obesity, type 2 diabetes, physical inactivity, excess alcohol intake and smoking.

With cases set to soar by 75 per cent by 2050, a poll of more than 2,000 found just two per cent of the public are taking the necessary steps to cut risks as much as possible.

Hearing loss, for example, has been linked to five modifiable risk factors – including social isolation, depression, physical inactivity/obesity and brain injuries from falls.

Previous research found hearing aid users had a 50 per cent lower risk of mild cognitive than those who did not use them, while another showed they could reduce progression from mild cognitive impairment to dementia by 27 per cent.

Yet stigmas associated with hearing aids and difficulties accessing them mean most people who need them, still do not use them.

The latest survey found while 35 per cent of people said they have had concerns about their hearing, six in ten (59 per cent) reported they had done nothing about it.

Dr Sarah Bauermeister, senior scientist at Dementia Platforms UK, said hearing checks should become normalised and ‘more accessible, more affordable, and can more easily be used by those that have hearing impairment’.

‘Regular hearing checks at all population levels is very important and this is across the lifespan so that it’s normalised to have a hearing check whether you’re 30 or 40.

‘And then if we normalise hearing checks, it will normalise the wearing of a hearing aid, and the stigma will then be reduced about wearing a hearing aid.’

Fewer than a third (31 per cent) of the public said they get the recommended seven hours of quality sleep a night – the recommended amount for good brain health.

And over a third of people report that they are failing to challenge their brain regularly, with 32 per cent only managing to do this occasionally, and 4 per cent seldom doing it.

Scientists hope that by raising awareness of risk factors – which change as we age – people can take steps to reduce their chances of getting the disease.

Professor Jonathan Schott, chief medical officer for Alzheimer’s Research UK, said the disease had become people’s ‘biggest fear’ over ageing.

Increasing numbers of people are undergoing genetic testing, he said, which accounts for the remaining 60 per cent of cases.

Yet greater public awareness of lifestyle tweaks could reduce cases by tens of thousands a year, he suggests.

He said: ‘Dementia is now the most feared consequence of ageing and so people are wanting to know what they do about their risk.

‘People are coming to us people are going off and getting their genetics done, which of course they can’t change, and then asking about what they can do about modifying risk.

‘The fact that many of the risk factors that were mentioning – blood pressure, smoking and so forth are risk factors for cardiovascular disease and cancer, we can harness this as part of the public health message.

‘It’s empowering to individuals to know that there are things that they can do and this is why this the tool has been developed.’ 

WHAT IS DEMENTIA?

Dementia is an umbrella term used to describe a range of neurological disorders

A GLOBAL CONCERN 

Dementia is an umbrella term used to describe a range of progressive neurological disorders (those affecting the brain) which impact memory, thinking and behaviour. 

There are many types of dementia, of which Alzheimer’s disease is the most common.

Some people may have a combination of different types of dementia.

Regardless of which type is diagnosed, each person will experience dementia in their own unique way.

Dementia is a global concern but it is most often seen in wealthier countries, where people are likely to live into very old age.

HOW MANY PEOPLE ARE AFFECTED?

The Alzheimer’s Society reports there are more than 900,000 people living with dementia in the UK today. This is projected to rise to 1.6 million by 2040.

Alzheimer’s disease is the most common type of dementia, affecting between 50 and 75 per cent of those diagnosed.

In the US, it’s estimated there are 5.5 million Alzheimer’s sufferers. A similar percentage rise is expected in the coming years.

As a person’s age increases, so does the risk of them developing dementia.

Rates of diagnosis are improving but many people with dementia are thought to still be undiagnosed.

IS THERE A CURE?

Currently there is no cure for dementia.

But new drugs can slow down its progression and the earlier it is spotted, the more effective treatments can be.

Source: Alzheimer’s Society 

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Damar Hamlin wanted to raise $2,500 to get kids toys for Christmas. After his cardiac arrest on the field, his fans donated millions.

In the weeks leading up to his sudden collapse during a game in Cincinnati on Monday night, Buffalo Bills safety Damar Hamlin was focused on raising money to give children from his hometown toys for Christmas. Within hours of Hamlin suffering cardiac arrest and going into critical condition, his fans donated millions to the campaign. 

The fundraiser was created on GoFundMe on Dec. 14 to “positively impact children who have been hardest hit by the pandemic.” Donations made to the campaign are to help with the purchasing of toys for those children, according to the site, and toys were distributed on Dec. 22 to a day care center. 

He set a goal to raise $2,500 for the initiative. It’s unclear to CBS News just how much money had been raised prior to the toy distribution, but according to CBS Pittsburgh, more than $600,000 was raised by 10:30 p.m. on Monday.

GoFundMe has verified the fundraiser, tweeting that he wanted “to help kids have a magical Christmas.” 

“Following his injury on the field tonight, fans across the country are showing their support for him and his family by donating to his fundraiser,” the company said. 

As of Tuesday evening, it’s raised more than $5 million, with many people donating thousands over the past few hours. Several people have made single donations between $1,000 and $5,500. 

Damar Hamlin #3 of the Buffalo Bills tackles Tee Higgins #85 of the Cincinnati Bengals during the first quarter of an NFL football game at Paycor Stadium on January 2, 2023, in Cincinnati, Ohio.

Kevin Sabitus / Getty Images


The flood of donations came shortly after the 24-year-old Pennsylvania native collapsed during the first quarter of the Bills’ game against the Cincinnati Bengals. During the first quarter of the game, Hamlin tackled Bengals receiver Tee Higgins. When Hamlin got up, he appeared to take a couple of steps before suddenly collapsing onto the field, where medical professionals treated him for about 10 minutes before putting him into an ambulance. The game was postponed soon thereafter. 

Hours later, the Bills put out a statement on Twitter saying Hamlin had suffered cardiac arrest. 

“His heartbeat was restored on the field and he was transferred to the UC Medical Center for further testing and treatment,” the team said. “He is currently sedated and listed in critical condition.”

An update on the fundraiser page that was added on Tuesday thanked supporters for donating to Hamlin’s initiative. It also said that the GoFundMe is “the only current fund” being used by Hamlin’s family. 

“This fundraiser was initially established to support a toy drive for Damar’s community, sponsored by the Chasing M’s Foundation,” the update says. “However, it has received renewed support in light of Damar’s current battle and we can’t thank all of you enough. Your generosity and compassion mean the world to us.”



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Disaster scenarios raise the stakes for Colorado River negotiations

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LAS VEGAS — The water managers responsible for divvying up the Colorado River’s dwindling supply are painting a bleak portrait of a river in crisis, warning that unprecedented shortages could be coming to farms and cities in the West and that old rules governing how water is shared will have to change.

State and federal authorities say that years of overconsumption are colliding with the stark realities of climate change, pushing Colorado River reservoirs to such dangerously low levels that the major dams on the river could soon become obstacles to delivering water to millions in the Southwest.

Officials fear ‘complete doomsday scenario’ for drought-stricken Colorado River

The federal government has called on the seven Western states that rely on Colorado River water to cut usage by 2 to 4 million acre-feet — up to a third of the river’s annual average flow — to try to avoid such dire outcomes. But the states have so far failed to reach a voluntary agreement on how to make that happen, and the Interior Department may impose unilateral cuts in coming months.

“Without immediate and decisive actions, elevations at Lake Powell and Mead could force the system to stop functioning,” Tommy Beaudreau, the Interior Department’s deputy secretary, told a conference of Colorado River officials here Friday. “That’s an intolerable condition that we won’t allow to happen.”

Many state water officials fear they are already running out of time.

Ted Cooke, general manager of the Central Arizona Project, which delivers Colorado River water to central Arizona, said that “there’s a real possibility of an effective dead pool” within the next two years. That means water levels could fall so far that the Glen Canyon and Hoover dams — which created the reservoirs at Lake Powell and Lake Mead — would become an obstacle to delivering water to cities and farms in Arizona, California and Mexico.

“We may not be able to get water past either of the two dams in the major reservoirs for certain parts of the year,” Cooke said. “This is on our doorstep.”

The looming crisis has energized this annual gathering of water bureaucrats, the occasional cowboy hat visible among the standing-room-only crowd inside Caesars Palace. It’s the first time the conference has sold out, organizers said, and the specter of mass shortages looms as state water managers, tribes and the federal government meet to hash out how to cut usage on an unprecedented scale.

“I can feel the anxiety and the uncertainty in this room and in the basin,” said Camille Calimlim Touton, commissioner of the Bureau of Reclamation.

The Colorado River is in crisis, and it’s getting worse every day

The negotiations will ultimately have to weigh cuts in rapidly growing urban areas against those in farming communities that produce much of the country’s supply of winter vegetables. In the complex world of water rights, farms often have priority over cities because they’ve been using river water longer. Unlike in past negotiations, water managers now expect that cuts will affect even the most senior water users.

The states of the Upper Colorado River Basin — Colorado, New Mexico, Utah and Wyoming — say it is difficult to specify how much they can cut because they are less dependent on allocations from reservoirs and more on variable flows of the river. The lower basin states — California, Arizona and Nevada — also consume far more water.

“In the Upper Basin, we can say we’ll take 80 percent, and Mother Nature gives us 30,” said Gene Shawcroft, chair of the Colorado River Authority of Utah. “Those are some of the challenges we’re wrestling with.”

The federal government set an August deadline for the states to reach a voluntary agreement on cuts, but that deadline passed with no deal. Some state officials here blame the Biden administration. When it became clear this summer that the federal government wasn’t ready to impose unilateral cuts, the urgency for a deal evaporated, they said.

Now the Biden administration has launched a new environmental review for distributing Colorado River supplies in low-water scenarios. Water managers hope to have more clarity on what states can offer by the end of January. By summer, the federal government is expected to define its authority to impose unilateral cuts.

“Unfortunately, it’s a year later than we need it,” Cooke said in an interview.

(Video: Erin Patrick O’Connor/The Washington Post)

Across the West, drought has already led to a record number of wells running dry in California, forced huge swaths of farmland to lie fallow and required homeowners to limit how much they water their lawns. This week, a major water provider in Southern California declared a regional drought emergency and called on those areas that rely on Colorado River water to reduce their imported supplies.

The problems on the river have been building for years. Over the past two decades, during the most severe drought for the region in centuries, Colorado River basin states have taken more water out of the river than it has produced, draining the reservoirs that act as a buffer during hard times. The average annual flow of the river during that period has been 13.4 million acre-feet — while users are pulling out an average of 15 million acre-feet per year, said James Prairie, research and modeling group chief at the Bureau of Reclamation.

In 1999, Lake Mead and Lake Powell, the two largest reservoirs in the country, held 47.6 million acre-feet of water. That has fallen to about 13.1 million acre-feet, or 26 percent of their capacity. An acre-foot equals 326,000 gallons, or enough to cover an acre of land in a foot of water.

‘Where there’s bodies, there’s treasure’: A hunt as Lake Mead shrinks

Federal officials have projected that, as soon as July, the level in Lake Powell could fall to the point where the hydroelectric plant inside the Glen Canyon Dam could no longer produce power, and then keep falling so that it would become impossible to deliver the quantities of water that Southwest states rely on. Water managers say such a “dead pool” is also possible on Lake Mead within two years.

“These reservoirs have served us for 23 years, but we’re now pushing them to their limits,” Prairie said.

(Video: Erin Patrick O’Connor/The Washington Post)

David Palumbo, the Bureau of Reclamation’s deputy commissioner of operations, stressed that the effects of climate change — a hotter and drier West, where the ground absorbs more runoff from mountain snow before it reaches the reservoirs — means the past is no longer is a useful guide to the future of the river. Even high snow years are now seeing low runoff, he said.

“That runoff efficiency is critical to be aware of and, frankly, to be afraid of,” he said.

Water managers saycuts are likely to hit hard in Arizona and California, where major farming regions consume big portions of the available supply. These states, which get water after it passes through Lake Mead and the Hoover Dam, also face the greatest risk if the reservoirs fall to dangerous levels, said John Entsminger, general manager of the Southern Nevada Water Authority.

“If you can’t get water through Hoover Dam, that’s the water supply for 25 million Americans,” he said.

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LOSING weight in middle age might RAISE Alzheimer’s risk, study suggests

LOSING weight in middle age might RAISE the risk of Alzheimer’s, study suggests

  • Declining body mass index (BMI) was associated with a growing risk of dementia
  • Fluctuating BMI can be caused by a range of factors such as fad diets and stress
  • The new study is not an endorsement to go out and pack on extra pounds 

Losing weight in middle age has been linked to an increased risk of Alzheimer’s.

Being obese or overweight has long been known to raise the risk of dementia and older people are advised to stay slim to ward off the condition.

But researchers from Boston and China found that adults who lost body mass in their mid-life years had an increased risk of developing dementia later on.

They are calling for the ‘unexpected’ finding to be studied further to make sure other lifestyle factors are not responsible for the increased risk.

The researchers identified a subgroup with a pattern of initial increasing BMI followed by declining BMI. Both occurred within middle age – which appeared to be central to the declining BMI-dementia association

Lead study author Professor Rhoda Au, of the University of Boston, said: ‘If after a steady increase in weight that is common as one gets older, there is an unexpected shift to losing weight post midlife, it might be good to consult with one’s healthcare provider and pinpoint why.’ 

The findings add to evidence that the seeds for dementia are sown across many years – likely even across the entire lifespan. 

Almost 10 per cent of US adults ages 65 and older have dementia, while another 22 per cent have mild cognitive impairment, according to Columbia University researchers. 

Dementia is a global problem affecting 50 million people and is expected to rise dramatically to more than 150 million cases worldwide by 2050.

Obesity, meanwhile, is responsible for some of the leading causes of preventable, premature death, including heart disease, stroke, type 2 diabetes and certain types of cancer. Roughly 42 percent of adults 20 and over were obese in 2017 through March 2020.

The US and Chinese team analysed data from the Framingham Heart Study, a group of participants from the Massachusetts town followed for four decades.

Their weight was measured about every two to four years. Prof Au and colleagues compared demnetia rates among those whose weight went up, down or remained stable.

Prof Au said: “These findings are important because previous studies that looked at weight trajectories didn’t consider how patterns of weight gain/stability/loss might help signal that dementia is potentially imminent.”

The researchers found the overall trend of declining BMI was associated with a higher risk of developing dementia.

However, after further exploration, they identified a subgroup with a pattern of initial increasing BMI followed by declining BMI.

Decreasing body mass index (BMI) was associated with a greater risk of developing cognitive problems affecting memory, thinking and social abilities

Both occurred within middle age – which appeared to be central to the declining BMI-dementia association. The results appear online in Alzheimer’s & Dementia: The Journal of the Alzheimer’s Association.

The results should not be interpreted as an endorsement to put on extra pounds.

Obesity is tied to a litany of health issues including high blood pressure and cholesterol, inflammation, and cardiovascular death. 

It raises the risk of heart disease, which kills 647,000 people every year in the US – making it the number one cause of death. Obesity has also been linked to 12 different cancers.

OBESITY: WHAT’S THE MEDICAL DEFINITION?

Obesity is defined as an adult having a BMI of 30 or over.

A healthy person’s BMI – calculated by dividing weight in kg by height in meters, and the answer by the height again – is between 18.5 and 24.9. 

Among children, obesity is defined as being in the 95th percentile.

Percentiles compare youngsters to others their same age. 

For example, if a three-month-old is in the 40th percentile for weight, that means that 40 per cent of three-month-olds weigh the same or less than that baby.

Around two in five men and women in the US are obese.

The condition costs the US healthcare system around $173billion a year. 

This is due to obesity increasing a person’s risk of a number of life-threatening conditions.

Such conditions include type 2 diabetes, which can cause kidney disease, blindness and even limb amputations. 

Obesity also raises the risk of heart disease, which kills 647,000 people every year in the US – making it the number one cause of death.

Carrying dangerous amounts of weight has also been linked to 12 different cancers including breast. 

Among children, research suggests that 70 per cent of obese youngsters have high blood pressure or raised cholesterol, which puts them at risk of heart disease.

Obese children are also significantly more likely to become obese adults. 

 

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The U.S. job market is strong, but layoffs are on the rise. Is this a good — or bad — time to ask for a raise? Experts weigh in.

Is this an opportune time to ask for a raise? Or, given the recent spate of tech layoffs, is it better to lie low for a while? 

The good news: Employers are giving pay raises. The increase in wages over the past year climbed to 5.1%, from 4.9% in the prior month, the Labor Department said Friday. Salaries continue to rise much faster than before the pandemic, when they were going up about 2% to 3% a year.

Still, wages are not keeping up with inflation. But if you decide to ask for a raise, here is one piece of advice: Talk about your own performance during pay negotiations — not about external factors like inflation and interest rates. 

U.S.-based employers announced 76,835 job cuts in November, a 127% jump from the previous month, according to a report by Challenger, Gray and Christmas released on Thursday, and 417% higher than a year ago. So far this year, companies have announced plans to cut 320,173 jobs, a 6% increase from last year. Tech companies alone have announced more than 60,000 job cuts this year, with indications that there will be more to come.

Employers and employees alike are concerned about inflation, rising interest rates and the prospect of a recession in 2023.

But hiring has outstripped layoffs. On Friday, the Labor Department reported 263,000 new jobs in November, while the unemployment rate held steady at 3.7%. However, the strong pace of hiring has become a big source of concern at the Federal Reserve, which has been raising interest rates in an effort to cool inflation.

Also read: U.S. stocks fall as strong November jobs data challenges Fed to push interest rates higher

Employers and employees are also concerned about inflation, rising interest rates and the prospect of a recession in 2023. “Navigating the impacts of a recession is no easy task, but it’s important for employers to remember that businesses aren’t the only ones staying afloat,” said John Morgan, president at LLH — formerly Lee Hecht Harrison — a talent mobility company, in New York. 

“Workers are also facing unprecedented job uncertainty and a rising cost of living,” he said. Given this confluence of events and concerns among both companies and their employees about the uncertain economic road ahead, you might be wondering if this is a good time to ask for a raise. Here are some things to consider before walking into your boss’s office.

Judge whether the timing is right

Don’t bet on the labor market remaining strong indefinitely. “The window to land a salary bump now may be closing,” said LinkedIn career expert Blair Heitmann. While the U.S. still has a tight labor market, the tech sector has shed thousands of jobs — and those layoffs are a sign that other sectors may be next.

If you are close to getting a promotion or have an upcoming review, your manager will likely bring up your compensation, she said. Companies review salaries during their quarterly reviews, so it might make sense to bring up your own situation before the company sets its goals and budgets for the year ahead, she added.

Ask yourself what kind of financial shape your company is in, Pay close attention to the company’s quarterly results, and listen to your managers when they talk about department performance, Heitmann said. And keep your ears open to learn whether your co-workers are getting raises or other benefits. 

Know that employees are expensive to replace

One thing to keep in mind if you genuinely feel you are being underpaid is that it’s expensive for employers to replace staff. When an employee asks for a raise, employers also must consider the turnover costs associated with finding new talent, Morgan said.

Another factor in your favor, particularly at a high-performing company that has no plans for layoffs, is that hiring remains difficult, a situation that will likely last through the next year, according to the Workplace Trends Report by Indeed and Glassdoor. 

It’s important to know whether you’re being paid a fair market rate. Check sites like CareerBuilder, Glassdoor or Salary.com, and talk to your colleagues, giving them a range that allows them to point you in the right direction without having to tell you their exact salary.

Overcome your fear of uncertainty 

Break through your own personal fear barrier. “Lobbying for a raise can be stressful even in the best of times, and the added pressure of economic uncertainty can make it even more so,” said Thom Wright, global master coach at EZRA Coaching, a virtual coaching app.

Take a moment to pause and reflect, assess your performance and articulate what you can bring to the company, he said. It’s also important to understand your company’s position, Wright said. “What matters to them? What’s valuable to them? Don’t assume that employers are aware of your achievements,” he said.

Have you, for instance, taken on extra responsibilities without any promotion or pay raise? Three quarters of workers say they have taken on a bigger workload without receiving extra money, according to a survey by Jobsage, a workplace review site.

Look beyond financial incentives

In the meantime, keep an eye on hiring trends within your industry. “Layoffs and cost-cutting measures in the tech sector are having a ripple effect on business services like advertising, legal services, and business support services,” Julia Pollak, chief economist at ZipRecruiter, said in a statement. 

This week, CNN said it would cut its workforce by a single-digit percentage, which would equate to roughly 400 staff members at the company, which had around 4,400 employees before the layoffs were announced.

The tech sector has also been cutting costs. In early November, Tesla founder Elon Musk laid off 7,500 staff members at Twitter — nearly 50% of the company’s global workforce. Facebook’s parent Meta recently announced it would lay off 11,000 workers, equivalent to 13% of the social-media company’s employee base.

But if finances are tight for your employer, don’t give up. There are other forms of compensation your manager might be able to offer you, such as an educational stipend or career coaching. That could allow you to improve your skills and set you on a path for a future promotion and pay raises, Heitmann said. 

Jeffry Bartash contributed to this report.

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Larry Summers predicts Fed will need to raise interest rates more than market anticipates

Former Treasury Secretary Larry Summers said the Federal Reserve will likely need to raise interest rates more than the market anticipates as prices remain high but grew at slower rates in October. 

Summers told Bloomberg Television’s “Wall Street Week” with David Westin that the economy has a “long way to go” before inflation is under control. 

“My sense is that inflation is going to be a little more sustained than what people are looking for,” he said. 

The Fed has raised interest rates by 0.75 percentage points four times in a row in successive meetings, but Chairman Jerome Powell said it will likely raise it by a smaller amount at its meeting later this month. 

Still, he said the Fed needs “substantially more evidence to get comfort” that inflation is declining. Consumer prices rose at a slightly slower pace in October than expected despite Americans increasing their spending. 

Powell has said the Fed will continue to raise interest rates as much as necessary to get inflation under control. Officials are aiming for inflation to get back to a 2 percent annual rate. 

The stock market surged after Powell’s comments that the interest rate hikes will slow down. 

Some financial experts have expressed concerns about the Fed raising rates too much too quickly and causing an economic downturn. Reports have indicated the rising interest rate has not had a major effect on the overall economy, but Summers said the effects of the increases can happen suddenly. 

“At a certain point, consumers run out of their savings and then you have a Wile E. Coyote kind of moment,” he said, referring to the cartoon character who falls off cliffs while chasing Road Runner. 

Summers said a “real risk” for an “avalanche aspect” exists but added that the Fed should not change its target of 2 percent for inflation.

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‘My mother didn’t raise a hypocrite’: Why Brendan Fraser won’t be at the Golden Globes if nominated – Upworthy

  1. ‘My mother didn’t raise a hypocrite’: Why Brendan Fraser won’t be at the Golden Globes if nominated Upworthy
  2. MeToo five years on: More work needs to be done The Indian Express
  3. Brendan Fraser Won’t Attend Golden Globes After Accusing President of Sexual Assault lovebscott.com
  4. Brendan Fraser attends GQ party after declaring that he ‘will not participate’ in Golden Globes Daily Mail
  5. Oscar-tipped Brendan Fraser to skip Golden Globes after sex-assault allegation against HFPA member News24
  6. View Full Coverage on Google News

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