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Mar 15, 2017

DealBook Afternoon Edition on March 15, 2017: Fed Raises Interest rates For Third Time Since Financial Crisis


Wednesday, March 15, 2017

Andrew Harnik/Associated Press
By BINYAMIN APPELBAUM
The move will increase the upward pressure on interest rates that consumers pay, but the immediate effect is likely to be modest.

Why the Fed Raised Rates
By KARL RUSSELL
The Federal Reserve is raising interest rates for the third time since the financial crisis after being at near zero.
Shocks, Recession and 9/11: When the Fed Intervenes
By PRADNYA JOSHI
The Federal Reserve has a history of changing interest rates to better steer the changing dynamic of the American economy. Here are several pivotal moments.
Business Day
Russian Agents Were Behind Yahoo Hack, U.S. Says
By VINDU GOEL AND ERIC LICHTBLAU
Four men, including two Russian intelligence agents, were charged for their roles in the theft of 500 million Yahoo accounts in 2014.
Trump Picks a Regulator Who Could Help Reshape Dodd-Frank Act
By BEN PROTESS
J. Christopher Giancarlo was selected to run the Commodity Futures Trading Commission, which regulates the sort of derivatives trading that spread panic on Wall Street in 2008.
Trump Wrote Off $100 Million in Losses in 2005, Leaked Forms Show
By PETER BAKER AND JESSE DRUCKER
The MSNBC host Rachel Maddow disclosed information from President Trump’s 2005 tax return on Tuesday night.
A.M.T., Which Hit Trump in 2005 Taxes, Is No One’s Favorite
By PATRICIA COHEN
The alternative minimum tax was enacted to make sure high-income earners didn’t avoid a fair share of tax, but many say its effectiveness has eroded.
Kushners, Trump In-Laws, Weigh $400 Million Deal With Chinese Firm
By CHARLES V. BAGLI AND MICHAEL FORSYTHE
A potential agreement to sell a stake in a New York skyscraper would be extremely lucrative for the family of Jared Kushner, and could protect the Chinese buyers from scrutiny.
Trump, Easing Emissions Rule, Vows to Expand Auto Jobs
By BILL VLASIC
The president spoke on Wednesday before hundreds of auto executives and workers in a former assembly plant near Detroit.
James Donovan Is Latest Goldman Sachs Executive to Join Trump Administration
By KATE KELLY
Mr. Donovan, a longtime Goldman banking and investment management executive, has been named to be the deputy to Treasury Secretary Steven T. Mnuchin.
Monsanto Weed Killer Roundup Faces New Doubts on Safety in Unsealed Documents
By DANNY HAKIM
A lawsuit contends that the main ingredient in Roundup, the world’s most widely used weed killer, can cause cancer.
DEAL PROFESSOR
Should Agencies Decide Law? Doctrine May Be Tested at Gorsuch Hearing
By STEVEN DAVIDOFF SOLOMON
The Supreme Court nominee, Neil M. Gorsuch, is a critic of Chevron deference, a doctrine that says courts should defer to a federal agency’s interpretation of the law.
German Police Raid Audi Offices, Escalating Volkswagen Diesel Inquiry
By JACK EWING
Searches of Audi offices threaten to damage the image of one of Volkswagen’s main sources of badly needed profit.
ENTREPRENEURSHIP
A Boom in Rock Climbing, Minus the Rocks
By JOANNE KAUFMAN
More entrepreneurs are bringing their enthusiasm for climbing indoors: Gyms are sprouting across the country with walls for climbing and bouldering.
Buzz Tracker
Why Warren Buffett is investing in the airline business.  Mr. Buffett once called the airline business a “death trap.” Now he has turned into one of its biggest investors, which is an indicator of how much the industry has changed.  – Los Angeles Times
Alaska Airlines announces San Diego expansion.  The airline announced new routes to Albuquerque; Austin, Tex.; Kansas City, Mo.; Minneapolis/St. Paul; Omaha; and St. Louis. — USA Today
Looking Ahead
The Bank of England’s decision on monetary policy is due. The bank will release its latest monetary policy decision on Thursday. The British economy has performed better than expected since Britain’s vote in June to leave the European Union, but the Bank of England’s Monetary Policy Committee is still widely expected to keep interest rates steady. Prime Minister Theresa May is expected this month to invoke Article 50, which would start a two-year negotiation process to leave the 28-country bloc. Chad Bray