Morning Wire Tuesday Afternoon Update | 10.18.22
Oct 18, 2022
Economic shifts highlight a rising risk of recession, along with key updates on student debt and the ongoing pandemic's impact on education. The cancellation of the crabbing season due to a drastic decline in the Bering Sea winter snow crab population raises environmental concerns. On the geopolitical front, China's military recruitment strategies and Australia’s changing policies on Jerusalem are examined, coupled with Kevin Spacey's legal troubles.
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Recession Prediction
- Bloomberg economists predict a 100% chance of a recession within the next year.
- The White House acknowledges this as the Federal Reserve raises rates to combat inflation.
Student Loan Forgiveness Applications
- Over 8 million people have applied for student loan forgiveness.
- The White House views this program as a significant benefit for many Americans.
Fauci on School Closures
- Anthony Fauci acknowledged the negative impact of school closures during COVID-19.
- He denied responsibility, emphasizing his advocacy for keeping schools open.