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Morning Wire

UPenn’s President Resigns & Interest Rate Optimism | 12.11.23

Dec 11, 2023
13:44
Snipd AI
UPenn's president resigns after congressional testimony on anti-Jewish hate; interest rate cuts anticipated due to a labor market cooldown; Hunter Biden faces new charges
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Podcast summary created with Snipd AI

Quick takeaways

  • UPenn President resigns amid controversy over anti-Semitic speakers at a campus event, showcasing the impact of donor concerns on university leadership.
  • Cooling labor market fuels optimism for interest rate cuts, potentially stimulating the economy through cheaper borrowing and increased investment opportunities.

Deep dives

Resignation of University President Over Testimony on Anti-Jewish Hate

Liz McGill, the embattled president of the University of Pennsylvania, resigned following criticism of her testimony before Congress regarding calls for genocide against Jews on campus. Pressure from donors played a significant role, as they voiced concerns about Penn's hosting of the Palestine Rights Literature Festival, which featured speakers associated with anti-Semitism. McGill's reaction to the controversy failed to satisfy donors, leading to the withdrawal of major grants and calls for her resignation. The resignations of presidents from Harvard and MIT are also speculated.

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