Daily Dozen | Forbes: US Dollar Peaks; bitcoin stroke; Jetsons Dream Delay

The Biden administration has acknowledged that it is conducting a review of the damage caused by the storage of classified documents by former President Donald Trump at Mar-A-Lago, which is separate from the Justice Department investigation. The Department for Education has shared new details on how student loan relief works. And we look at how race has been largely overlooked so far.

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In the news today

  • The US dollar hits its highest level in 20 years on Monday, following comments by Federal Reserve Chairman Jerome Powell that the central bank will continue to fight inflation “forcefully,” apparently by continuing to raise interest rates. A stronger dollar could help dampen inflation as imports of goods and services become cheaper, but could also hurt the stock market since 30% of S&P 500 companies’ earnings come from outside the US. United States.
  • Bitcoin fell below $20,000 Saturday, trading at its lowest levels in over a month. The decline came after equities sold off sharply on Friday as investors retreated from risky assets amid renewed fears that the Federal Reserve’s efforts to fight inflation could fuel an economic slowdown. “Very worried” Sen. Elizabeth Warren (D-Mass.) said Fed decisions “will tip the economy into recession.”

Best takeaways

The Office of the Director of National Intelligence is working with the Justice Department to determine if the treasure trove of classified documents that former President Donald Trump brought with him to Mar-a-Lago posed a threat to national security. This is the first acknowledgment from the Biden administration that it is conducting a review alongside the Justice Department investigation.

The US Department of Transportation has declared a regional emergency for Illinois, Indiana, Michigan and Wisconsin after a fire shut down the BP oil refinery in Whiting, Ind., the largest in the Midwest and the sixth from the country. There has been no impact on gasoline prices so far, and analysts warn consumers “freak out” by buying gasoline.

A new digital payment service that uses the same technology as Zelle and Venmo will reduce Visa and Mastercard fees. Sionic partners with Google Cloud Services and MX, a company that connects fintechs to users’ bank accounts, to launch bank-based payments. The product allows merchants to reduce card acceptance fees, but its success depends on the capacity consumers will abandon credit or debit cards.

When President Joe Biden unveiled an unprecedented executive action offering up to $20,000 in pardons to federal students, some key details were unclear. Here’s a breakdown of the latest information from the US Department of Education.

Electric vertical take-off and landing vehicles, called eVTOLs, are all the rage among those looking new sustainable ways to travel Jetsons style. But while the current version of eVTOLs – mostly helicopters for the rich – might have better economy, there are bigger challenges for the future.

The PGA Tour concluded its tumultuous season when it crowned Rory McIllroy the $18 million FedEx Cup champion. But the party may not last long. Rumors abound that LIV Golf, the new Saudi-backed tour, will announce more poaching ahead of its September 2 event in Boston. Here is our list of the most likely to skip. After: An in-depth look at professional golfer Scottie Scheffler.

The The White House marked the most popular tweet of the week with a sarcastic thread applauding congressional Republicans who criticized President Joe Biden’s plan to cancel student loans despite canceling pandemic business relief loans, a rare viral victory for an account major institutional on the platform.

Must read today

NASA has returned to the Moon and here are some innovators who will help make it happen

The Artemis mission is to establish permanent human settlements on the Moon and, hopefully, on Mars.

In case you missed it

“Quiet abandonment” seems generational — enthusiasts seem to be mostly millennial and Gen Z professionals. But conversations about this new term are noticeably raceless. Take a look at the viral trend relevance to black workerswho often experience racial promotion and a pay gap and say they need to be “twice as good” as their white colleagues.

Advice you can trust

  • Contract, self-employed and temporary workers are considered to be the at the forefront of the gig economy. However, there is a growing trend of recent university graduates and highly experienced, well-accredited professionals stuck in a cycle of freelance jobs and unable to find full-time work. It can impact the mental health, emotional well-being and finances of millions of self-employed people.

  • want to make you essential for future employers? It’s not just the technical skills you need to cultivate. As the pace of change continues to accelerate, the skills you need to thrive in the workplace are evolving. Here are the top 10 most in-demand skills for the next 10 years.

Must-see video

Unusual indicators of a recession you may not have heard of

As we enter the final weeks of summer, inflation, supply chain delays and rising interest rates persist. Although the US economy is not officially considered to be in recession, there are a few non-traditional indicators to watch as warning signals.

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