Photo: Getty Images/Getty Images It’s reasonable to be worried about a recession. Banks have been failing , offices are closing , and it’s not like anything has been getting cheaper . Still, you have people like Neel Kashkari , the CEO of the Federal Reserve Bank of Minneapolis, saying that the economy is fine, that no downturn is on the horizon. It is all very confusing. When good data does come along, it seems to come with an asterisk. On Wednesday, the federal government released new information on the amount of jobs out there, and it was pretty great. Not only are businesses still hiring like crazy, they actually increased the total number of job listings in April. There were 10.1 million openings last month, according to the Bureau of Labor Statistics — nearly two for each of the 5.8 million unemployed. People are still quitting jobs for better ones, and fewer people are getting laid off. Good, right? Actually — this news sucked, and the Dow Jones Industrial Average … [Read more...] about How to Navigate the Bizarro Economy
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Head of JPMorgan Chase says he never met Jeffrey Epstein, who kept millions at the bank for 15 years
The head of JPMorgan Chase said that he had never met disgraced financier Jeffrey Epstein and never even heard of him until Epstein’s 2019 arrest, and that he wasn’t aware of the bank’s internal investigation of its relationship with Epstein, who kept much of his fortune at the bank for 15 years. JPMorgan Chase CEO Jamie Dimon was deposed last week by lawyers for plaintiffs suing the bank over its alleged role in enabling Epstein’s sex trafficking, as well as a lawyer for a former Chase executive whom the nation’s largest bank blames for prolonging its ties to Epstein. Epstein, who pleaded guilty to soliciting a minor for prostitution in 2008, died by suicide in jail in 2019 after being rearrested and charged with trafficking. During the deposition, Dimon said he didn’t “recall knowing anything about Jeffrey Epstein until the stories broke sometime in 2019,” adding he was “surprised that I didn’t even, had never even heard of the guy, pretty much, and how involved he was … [Read more...] about Head of JPMorgan Chase says he never met Jeffrey Epstein, who kept millions at the bank for 15 years
Past Into Present: 4 Journeys That Changed Us
An African-American resort town in Michigan, circa 1970; a raucous family road trip from Kansas City, Mo., to New York state; a bittersweet return to Hyderabad, India; and a college student’s self-discovery in Australia: Four New York Times Travel contributors share their memories of trips that still impart a sense of wonder and hope. Lost in Time on the Shores of Lake Idlewild By Ron Stodghill At some point, even as I began racking up frequent-flier miles, I came to accept a simple truth: I’d find no sleep as peaceful as I found on Lake Idlewild. My slumbers in Michigan’s densely wooded, all-black resort started as a kid. Belly full of fried catfish, Jones Homemade Ice Cream and ZotZ penny candy from Lee-John’s Novelty and Soda Bar, I would curl up on a lounge chair by the lake and snooze for hours to the sound of waves gurgling along the shore, the purring of fishing boats motoring by, the crackling of the Detroit Tigers radio broadcast wafting … [Read more...] about Past Into Present: 4 Journeys That Changed Us
