Biden’s Fed Picks | Gates’ Reading List | Closed For Thanksgiving

Plus: Technology Employees Risk Pay And Benefits To Push For Change—And In Many Cases, It’s Working

Good morning.

Stocks jumped at President Joe Biden’s picks for chair and deputy chair of the Federal Reserve, which ended weeks of speculation over the central bank taking a new direction on record-breaking inflation. We’re also covering the trend of retailers keeping their doors closed over Thanksgiving, and which books were Bill Gates’ favorites this year. Finally, we look at the activist tech workers risking gold-plated jobs to drive corporate change.

In The News Today

Days after jurors in Wisconsin found Kyle Rittenhouse not guilty in a closely-watched homicide trial, the 18-year-old criticized pundits and politicians for how they discussed his case in an interview with Fox News host Tucker Carlson.

The White House has ordered the release of 50 million barrels of oil from the Strategic Petroleum Reserve in a bid to lower gasoline prices.

Top Take-Aways

President Biden nominated Jerome Powell for a second term as chair of the Federal Reserve, picking Lael ​​Brainard, the only Democrat on the central bank’s board of governors  and a favorite among progressives for her views on climate change risks, as his deputy. Stocks jumped on the news that ended weeks of speculation over a change of direction at the Fed.

Billionaire bookworm Bill Gates has released the annual list of his favorite books of the year. It features three novels and two works of nonfiction that display a flair for science, innovation, and the power of imagination.

The Obama Foundation received its largest single gift to date from Jeff Bezos. The world’s second richest person committed $100 million to former President Barack Obama’s philanthropic initiative to support its leadership programs and honor the late civil rights icon, Representative John Lewis.

The SoftBank Vision Fund is buying a $300 million stake in LTK, a Dallas-based technology platform that enables more than 150,000 social media influencers to make their posts shoppable, giving cofounder and president Amber Venz Box a $315 million net worth.

Target says it will never open its stores again on Thanksgiving. It’s the latest retailer changing its opening hours around Thanksgiving and Black Friday.

Marriott International, the world’s largest hotel chain, has agreed to include mandatory resort fees in room rates after the Pennsylvania Attorney General investigated whether the company was in violation of consumer-protection laws.

Today's Must Read

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