Business
‘Too early for victory laps’: Fed inflation fight looms over Biden on December 12, 2023 at 9:04 pm Business News | The Hill
The next chapter of the Federal Reserve’s fight against inflation will stretch through the 2024 election, putting President Biden in a pinch as he campaigns on a yet-to-be-seen soft landing.
The central bank has walked a tightrope to cool the economy and bring down inflation without triggering a recession. The Fed began its battle with an aggressive series of rate hikes, then paused in September as inflation fell steadily over the past 18 months.
After its final meeting of the year concludes Wednesday, the Fed’s rate-setting committee will announce its next step in the fight against inflation after a year of remarkable progress.
While experts don’t expect the Fed to declare victory, they believe the bank is well on its way toward delivering a “soft landing” — a return to low inflation without a recession.
“The odds of a soft landing have certainly increased dramatically in recent months. There’s probably a better than 50-50 chance that we do get that very rare soft economic landing, but it’s too early for victory laps,” Greg McBride, chief financial analyst for Bankrate.com, told The Hill.
The U.S. economy is in a much better place than it was a year and a half ago, economists told The Hill, with inflation falling, strong economic growth and low unemployment.
The economy’s success came in the face of headwinds, including the spectacular collapse of Silicon Valley Bank and Signature Bank this spring, the resumption of student loan payments, the ongoing conflict in Ukraine and the war between Israel and Hamas.
“The U.S. economy is quite resilient. It has been the big story of this year,” Niladri Mukherjee, chief investment officer at TIAA Wealth Management, told The Hill.
Some economists argue the economy is already on track to see lower inflation without a recession, which was widely feared when the bank began hiking rates.
“In my opinion, the soft landing is in the bag,” Claudia Sahm, a former Fed economist and the founder of Sahm Consulting, told The Hill. She is best known as the creator of the “Sahm Rule,” an early warning recession indicator based on the three-month average national unemployment rate.
“We could sustain this labor market. The COVID disruptions, Ukraine disruption and inflation continue to work themselves out. That’s the path we’re on,” Sahm added. “That was not clear last year. Last year was really rough.”
Bidenomics and the 2024 presidential race
Inflation has fallen from its peak topping 9 percent in June 2022 to 3.1 percent in November, according to the latest consumer price index released Tuesday by the Labor Department. That’s still above the Fed’s 2 percent inflation target but within striking distance.
President Biden’s reelection campaign used last week’s jobs report, which showed higher-than-expected job gains, to make the case that he’s “cleaning up the economic disaster” left by his predecessor and presumed challenger in the 2024 race, former President Trump.
But it may be too soon to tell whether the economy is a winning message for Biden as the plane is still coming in for landing.
“This period of incredibly high inflation absolutely does not play well for Biden,” said Michelle Holder, an assistant economics professor at John Jay College.
While it looks like the U.S. economy is coming in for a soft landing, Americans remain concerned with high prices as they’re squeezed by higher borrowing costs. And even Democrats seem to have a hard time backing Biden’s economy.
A recent New York Times/Siena College poll of voters in six battleground states found 62 percent of Biden voters rated the economy “fair” or “poor.” Trump is leading Biden in five of those six battleground states, the poll found, though the hypothetical general election match-up is more than a year away.
While the economy is improving by many measures, many Americans are struggling. Those who enjoyed pandemic stimulus-padded safety nets are seeing those savings dwindle, and credit card, mortgage and auto payment delinquency rates have all risen as borrowing costs have ballooned.
“Sixty percent of U.S. households live paycheck to paycheck. The prices are 20 percent higher than they were pre-pandemic and for a lot of households, income hasn’t increased 20 percent,” McBride said.
“So buying power has been squeezed, budgets are tighter, savings has been eroded, credit card debt has been added, and that reality is weighing on millions of households,” he added.
Where the Fed goes from here
The Fed is widely expected to hold interest rates steady on Wednesday at a range of 5.25 percent to 5.5 percent, the range set by its most recent rate hike in July.
With rates at their highest level in more than two decades, Fed officials have been willing to sit back and watch the impact of their previous hikes before raising borrowing costs again.
Fed Chair Jerome Powell has also warned the bank could hike rates again in 2024 if inflation shows signs of reigniting.
“My firm base case throughout all of this is the Fed is going to get 2 percent [come] hell or high water,” Sahm said, noting “the Fed’s only tool is fewer customers.”
Even so, the steady decline of inflation and rising pressure on low-income households is prompting calls for the Fed to consider cutting rates.
“As the inflation rate declines, the Fed’s not going to be able to keep rates at current levels indefinitely,” McBride says. Rates that stay high for too long risk tipping the U.S. economy and labor market into a recession.
While a recent estimate by UBS Investment Bank forecasts rate cuts as soon as March, the central bank will have to balance bringing interest rates down without tipping the economy into a recession.
Interest rate hikes target the demand side of the economy, dampening it by jacking up borrowing costs. But that doesn’t tell the full story.
“The misdiagnosis here was the assumption that inflation was largely demand, rather than supply, driven,” Moody’s Analytics Deputy Chief Economist Cristian deRitis told The Hill.
“Fed policy kept inflation from accelerating further by keeping demand in check, but most of the decline in inflation is attributable to improvements in the supply side of the economy.”
Mukherjee warned that if the Fed cuts interest rates too quickly, economic growth could reaccelerate and cause the Fed to reverse course and hike rates that the market is expecting to see cut.
“Everybody’s extrapolating too far up the path of no recession,” Mukherjee said. “That’s what makes it risky for investors.”
Holder said that, “The way to go is to be slow, steady and modest in order to mitigate these feedback effects with higher shelter costs and the very real feedback effect of you raise interest rates, you slow down the labor market, unemployment increases.”
A labor economist who studies women and people of color in the labor market, Holder noted Black workers in particular are experiencing historically low levels of unemployment.
“I do hope the Fed stays the course and continues along this path that has led us to be in this vein of a soft landing because I don’t want to see the gains that Black workers have made be reversed,” Holder said.
Despite a slew of high-profile layoffs, particularly in the technology sector, the national unemployment rate has remained below 4 percent for the longest stretch in decades, edging down to 3.7 percent in November.
“The biggest dynamic that is still at play is the Federal Reserve and the labor market. It’s literally been these are the two fronts which are fighting each other and we will at some point know which direction the fight is breaking,” Mukherjee said. “And you could argue that will have a big say in who wins the next year’s election as well.”
Whether the economy will tip the election in Biden’s favor, or whether Americans will even credit him with a soft landing should it materialize, remains to be seen.
“Whether or not I believe this is going to make or break Biden, or actually break Biden, in terms of his presidential bid, I’m not ready to say that,” Holder said. “I’m not ready to say that inflation is the straw that broke the camel’s back.”
Business, Economy, 2024 presidential election, Donald Trump, federal reserve, inflation, Interest rates, Jerome Powell, Joe Biden The next chapter of the Federal Reserve’s fight against inflation will stretch through the 2024 election, putting President Biden in a pinch as he campaigns on a yet-to-be-seen soft landing. The central bank has walked a tightrope to cool the economy and bring down inflation without triggering a recession. The Fed began its battle with…
Business
Building a 10 Million Army: One Leader’s Mission to Save Tomorrow

Sustainability is often spoken about as if it belongs only to scientists, policy experts, or environmental activists. On the Roselyn Omaka Show, Otto Cannon makes the case that it belongs to everyone. His message is both urgent and deeply human: sustainability is not just about the environment, but about creating a world where people, planet, and profit exist in balance.
Cannon’s mission is striking in its scale. He wants to build what he calls a global army of 10 million sustainability leaders—people across industries and communities who choose to think beyond short-term gains and take responsibility for the future they are helping shape.
My biggest mission is to raise a 10 million global army of sustainability leaders.
Otto’s understanding of this work did not begin in a conference room. It began in childhood, shaped by a father who taught him to see the world’s problems as personal assignments. That early influence instilled in him the belief that real leadership means stepping forward, identifying what is broken, and dedicating yourself to fixing it.

That mindset later became deeply personal. In one of the interview’s most emotional moments, Cannon shares how the death of his dog after swallowing a plastic bottle cap changed his life. What might have seemed like an isolated tragedy became, for him, a doorway into a much larger truth: waste is never just waste when it destroys ecosystems, harms wildlife, and threatens the future.
Instead of turning away, he turned pain into action. Through his work, he helped build a recycling company that processed over 10,000 tons of plastic and supported tree-planting efforts that have already reached more than 500,000 trees. His story reflects the broader idea of sustainability leadership, which is commonly framed as the integration of environmental, social, and economic responsibility into real-world decision-making.
What makes Cannon’s perspective especially compelling is the way he challenges common misconceptions. He argues that sustainability is too often boxed into environmental language alone, when in reality it applies to every sector—fashion, construction, energy, transportation, manufacturing, and beyond. This broader understanding aligns with current sustainability leadership thinking, which emphasizes systems, collaboration, and long-term value creation across sectors.
Profit should never come at the expense of people or the planet.
That belief is central to everything Cannon describes. For him, sustainability is not anti-business. It is about designing business, innovation, and progress in a way that does not leave harm behind for future generations. A solution that helps today but creates a deeper problem tomorrow, he argues, is not truly a solution at all.

This is also the thinking behind the Global Sustainability Summit and Awards in London, where Cannon brings together leaders from government, business, and civil society to share ideas, showcase innovation, and inspire action. Cross-sector collaboration is widely recognized as a core part of effective sustainability work, especially when the goal is cultural and systemic change rather than isolated projects.
The power of Cannon’s message lies in its accessibility. He is not calling only on policymakers or executives. He is speaking to creators, founders, farmers, designers, builders, and everyday professionals—anyone who has influence over materials, waste, systems, sourcing, or the choices that shape modern life.
By the end of the conversation, one image lingers: the idea that one person is a drop of water, but many drops together can become a wave. That is the future Otto Cannon is working toward—not a movement powered by one voice, but one built by millions who decide that sustainability is not optional, but necessary.
Business
GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

FOR IMMEDIATE RELEASE
Theme: “People, Planet, and Profit in the Age of AI and Innovation”
London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.
This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.
Among the distinguished speakers, delegates and honorees already lined up for the Summit are:
• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum
• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria
• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom
• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament
• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia
• His Excellency Nangolo Mbumba — Former President of Namibia
• Former President of Tanzania
• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum
• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria
• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom
• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom
• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum
• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast
• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature
• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo
• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)
• Professor Payam Akhavan — Massey College, University of Toronto
• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.
Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:
“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”
The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.
More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.
Business
What the Michael Biopic Means for Every Indie Filmmaker

The Michael Jackson biopic Michael is more than celebrity drama; it is a real-time lesson in how legal decisions can quietly rewrite a story that millions of people will see. You do not need a $200M budget for the same forces—contracts, settlements, and rights issues—to shape or even erase key parts of your own work.

What Happened to Michael
The film Michael originally included a third act that addressed the 1993 child sexual abuse allegations and their impact on Jackson’s life and career. Trade reports say this version showed investigators at Neverland Ranch and dramatized the scandal as a turning point in the story. After cameras rolled, lawyers for the Jackson estate realized there was a clause in the settlement with accuser Jordan Chandler that barred any depiction or mention of him in a movie.
Because of that old agreement, the filmmakers had to remove all references to Chandler and rework the ending so the story stopped years earlier, in the late 1980s at Jackson’s commercial peak.
According to reporting, this meant roughly 22 days of reshoots, costing around 10–15 million dollars and pushing the total budget over 200 million.
Meanwhile, actress Kat Graham confirmed her portrayal of Diana Ross was cut for “legal considerations,” showing how likeness and approval issues can wipe out an entire character even after filming.
For audiences, the result is a movie that intentionally avoids one of the most controversial chapters of Jackson’s life, which some critics argue makes the portrait feel incomplete or selectively curated.
The Hidden Power of Contracts and Rights
The key detail in the Michael story is that a contract signed decades ago could dictate what present-day filmmakers are allowed to show. That settlement clause did not just affect the people who signed it; it effectively controlled the narrative of a big-budget film made years later. This is how legal documents become invisible co-authors: they quietly set boundaries around what your story can and cannot include.
Creators face similar invisible lines with:
- Life-rights and defamation: If you dramatize real people, especially in a negative light, they can claim defamation or invasion of privacy if your portrayal is inaccurate or harmful.
- Copyright and trademarks: Unlicensed music, clips, logos, or artwork can trigger copyright or trademark claims that block distribution or force expensive changes.
- Distribution contracts: Some deals give distributors the right to re-edit, retitle, or repackage your work without your approval unless you negotiate otherwise.
Legal commentary warns that fictionalizing real events and people carries heightened risk because audiences tend to connect your dramatization back to actual individuals. That risk does not disappear just because you are “small” or “indie”; impact, not audience size, usually determines exposure.
Why This Matters for Indie Filmmakers and Creators
Independent filmmakers often choose the indie route precisely to maintain creative control, but they can face more risk if they skip legal planning. Common problems include unclear ownership of the script, missing music licenses, handshake agreements with collaborators, and no written permission to use locations or people’s likenesses. These are the kinds of issues that can derail distribution, block a streaming deal, or force last-minute cuts that fundamentally change your story.
Legal guides for indie filmmakers consistently emphasize a few realities:
- You do not fully “own” your film unless you have clear contracts for writing, directing, producing, and underlying rights.
- Unregistered or unlicensed creative elements (like music and logos) can make your project uninsurable or unattractive to distributors.
- Fixing legal problems after the fact is almost always more expensive and limiting than planning for them at the beginning.
So when you watch Michael skip over certain events, you are seeing, in exaggerated form, the same forces that can shape an indie short, web series, documentary, or podcast episode.
Practical Legal Lessons You Can Apply Now
You do not need a law degree, but you do need a basic legal strategy for your creative work. Here are practical steps drawn from entertainment-law and indie-film resources:
- Clarify who owns the story
- Use written agreements with co-writers, directors, and producers that state who owns the script and finished film.
- If your work is based on a real person or memoir, secure life-rights or written permission where appropriate, especially if the portrayal is sensitive.
- Be intentional with real people and events
- When telling true or inspired-by-true stories, avoid making specific, negative claims about identifiable people unless they are well-documented and legally vetted.
- Change names, details, and circumstances enough that the person is not clearly identifiable if you do not have their cooperation.
- Lock down music and visuals
- Use original scores, licensed tracks, or reputable libraries; never assume you can keep a song just because it is in a rough cut.
- Clear artwork, logos, and recognizable brands, or replace them with generic or custom-designed alternatives.
- Protect yourself in contracts
- When signing any distribution or platform deal, read the clauses about editing, retitling, and marketing carefully; ask for limits or at least consultation rights.
- Include terms that let you reclaim rights if a partner fails to release the work, goes dark, or breaches key promises.
- Document everything
- Keep organized copies of releases, licenses, and contracts; these documents are part of your project’s value and proof of your rights.
- Register your work where applicable (for example, copyright), which strengthens your ability to enforce your rights if someone copies you.
Education-focused legal resources repeatedly stress that preventative steps—basic contracts, clear permissions, and simple registrations—are far cheaper than dealing with takedowns, lawsuits, or forced rewrites later.
The Big Takeaway: Story and Law Are Connected
The Michael biopic illustrates what happens when legal obligations and creative vision collide: whole characters disappear, endings are rewritten, and the public only sees a version of the story that fits within old contracts.
As an indie filmmaker, writer, or content creator, you may not have millions at stake, but you do have something just as valuable—your voice and your ability to tell the story you meant to tell.
Understanding the legal dimensions of your work is not a distraction from creativity; it is a way of protecting it. When you know where the legal boundaries are, you can design stories that are bold, truthful, and still safe enough to reach the audiences they deserve.
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