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Everton striker Rondon leaves club 6 months early

LIVERPOOL, England (AP) — Everton striker Salomon Rondon agreed to terminate his contract with the club six months early on Friday.

The 33-year-old Venezuela international made just three starts since Frank Lampard took over at the end of January despite first-choice forward Dominic Calvert-Lewin spending much of that period injured.

Rondon was signed by former manager Rafael Benitez in mid 2021 and made 31 appearances. They included 13 starts but just three goals.

“Salomon Rondon has left Everton with immediate effect after reaching an agreement with the club to terminate his contract,” the club said in a statement.

His contract was to initially finish in June 2023.

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AP World Cup coverage: https://apnews.com/hub/world-cup and https://twitter.com/AP_Sports

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Caribbean divided as Netherlands mulls slavery apology

PARAMARIBO, Suriname (AP) — Dutch colonizers kidnapped men, women and children and enslaved them on plantations growing sugar, coffee and other goods that built wealth at the price of misery.

On Monday, the Netherlands is expected to become one of the few nations to apologize for its role in slavery. Dutch Prime Minister Mark Rutte plans to speak in the Netherlands as members of his Cabinet give speeches in seven former Caribbean colonies, including Suriname.

Symbolism around crimes against humanity is controversial everywhere, and debates over Monday’s ceremonies are roiling Suriname and other Caribbean countries.

In Suriname, activists and officials say they have not been asked for input about the apology, and that’s a reflection of a Dutch colonial attitude. What’s really needed, they say, is compensation.

In 2013, the Caribbean trade bloc known as Caricom made a list of requests including that European governments formally apologize and create a repatriation program for those who wish to return to their homeland, which has not happened.

“We are still feeling the effects of that period, so some financial support would be welcome,” said Orlando Daniel, a 46-year-old security guard and a descendant of slaves.

Suriname is an ethnically diverse country where roughly 60% of its 630,000 inhabitants live below the poverty line and 22% identify as Maroon — ancestors of slaves who escaped and established their own communities.

The Dutch first became involved in the trans-Atlantic slave trade in the late 1500s but did not become a major trader until the mid-1600s, when they seized Portuguese fortresses along Africa’s west coast and plantations in northeastern Brazil. Eventually, the Dutch West India Company became the largest trans-Atlantic slave trader, said Karwan Fatah-Black, an expert in Dutch colonial history and an assistant professor at Leiden University in the Netherlands.

Hundreds of thousands of people were branded and forced to work in plantations in Suriname and other colonies.

Portugal became the first European country to buy slaves in West Africa with help from the Catholic Church in the 1400s, followed by Spain. Some experts argue that large-scale sugar production in what is now Brazil then gave rise to the Atlantic slave trade that saw an estimated 12 million Africans transported to the Caribbean and the Americas over some 400 years, with at least 1 million dying en route.

Britain was among the first countries to ban the slave trade, in 1807. Dutch slavery continued until 1863.

If, as expected, the government issues a formal apology on Monday, it will put the Netherlands, which has a long history of progressive thinking and liberal laws, in the vanguard of nations and global institutions seeking to atone for their roles in historical horrors.

In 2018, Denmark apologized to Ghana, which it colonized from the mid-17th century to the mid-19th century. In June, King Philippe of Belgium expressed “deepest regrets” for abuses in Congo. In 1992, Pope John Paul II apologized for the church’s role in slavery. Americans have had emotionally charged fights over taking down statues of slaveholders in the South.

A Dutch government-appointed board issued a report last year saying that “today’s institutional racism cannot be seen separately from centuries of slavery and colonialism.”

Politicians and civil-society organizations in Suriname say that July 1, 2023 would be a more appropriate date for the apology ceremony because it marks 160 years since the abolition of slavery in the country.

“Why the rush?” asked Barryl Biekman, chair of the Netherlands-based National Platform for Slavery Past.

Johan Roozer, chairman of Suriname’s National Slavery Past Committee, said that Legal Protections Minister Franc Weerwind, who has slave ancestors and is visiting Suriname Monday, should also be given reparations.

Romeo Bronne, a 58-year-old businessman in Suriname, said an apology is needed, but he wants to hear it from the king of the Netherlands or its prime minister.

“Slavery was a terrible period, and degrading acts were committed,” he said as he called for financial reparations to be spent on education, health and other public benefits. “We remained poor.”

Irma Hoever, a 73-year-old retired civil servant who lives in the capital, Paramaribo, said that the Dutch “do not understand what they have done to us.”

“They still enjoy what their ancestors did to this day. We still suffer. Reparations are needed,” she said.

Activists in the Dutch Caribbean territory of St. Maarten have rejected the anticipated apology and demanded reparations, too.

“We’ve been waiting for a few hundred years for true reparatory justice. We believe that we can wait a little further,” Rhoda Arrindell, a former government minister and member of a local nonprofit, said at a recent government meeting.

Like many nations, the Netherlands has been grappling with its colonial past, with the history of Dutch slavery added for the first time to local school curriculums in 2006.

“There is a sector in society that really clings to colonial pride and finds it difficult to acknowledge that their beloved historical figures have played a part in this history,” Fatah-Black said, referring to seafarers and traders long revered as heroes of the 17th century Dutch Golden Age, when the country was a major world power.

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Coto reported from San Juan, Puerto Rico.

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Column: We could do without 3rd-place game, all these bowls

As the World Cup holds a game to decide third place — who cares? — and a tidal wave of unnecessary bowl games gets cranked up — really, who cares? — we’re reminded that sports, as great as they can be, have a few things we could definitely do without.

Modern pentathlon, anyone?

We’ll get back to that befuddling sport in a moment.

For now, let’s focus on a World Cup game of zero significance Saturday between Morocco and Croatia, plus the first of 42 major college bowls — only three of which mean anything — being played Friday in a country (the Bahamas) that has no real affinity for American-style football.

Morocco made a stunning run at the World Cup, becoming the first African team to reach the semifinals while sparking joyous celebrations in the Arab world and beyond.

For all intents and purposes, that electrifying performance ended with a 2-0 loss to defending world champion France in the semifinals Wednesday. The Moroccans should be at home now, reveling in the adulation of an appreciative nation.

Instead, they’ll be back on the pitch one more time in Qatar, deciding the tournament’s third-best team when they face a Croatian squad that lost to Argentina 3-0 in the other semifinal.

The players tried to act like this means something.

Trust us, it doesn’t.

Morocco and Croatia will long be remembered for making it to the semis. The winner of the third-place game is sure to be quickly forgotten.

Morocco coach Walid Regragui summed it up best.

“You are so disappointed,” he said. “You’ve just lost a semifinal and then two days later, you have to go back out there.”

Of course, when it comes to worthless contests, nothing beats the college football bowl system.

Four teams — Georgia, Michigan, TCU and Ohio State — have berths in the College Football Playoff. The Peach and Fiesta semifinals, followed by the national championship game, are the only major-college postseason games that matter.

Yet, over the next 2 1/2 weeks, there will be 39 more — essentially serving as huge bloc of holiday programming for ESPN and a few other networks, as monotonous and insignificant as all those Hallmark Christmas movies.

In a match-up of 6-6 teams that had never faced each other before and had little reason to travel to the Bahamas for their first meeting, UAB held on for what was admittedly a thrilling 24-20 victory over Miami of Ohio.

Beyond all the whooping and hollering from the players, the reaction to a game-winning tackle just short of the goal line was silence. The stadium appeared to be largely empty, as it should have been.

At least UAB and Miami got to enjoy a week in paradise.

Other bowls are set for decidedly non-paradise locales such as Boise, Idaho; Shreveport, Louisiana; Fort Worth, Texas; and Montgomery, Alabama.

Why?

While we’re at it, here’s a few other things we should sweep into the dustpan of sports history:

— The aforementioned modern pentathlon, which somehow remains an Olympic event even though only a few dozen people in the entire world seem to know what it is. We’re told it has something to do with mimicking the skills needed by a pre-20th century soldier: shooting, sword fighting, swimming, running and riding a horse. The riding part appears on the way out after a coach — apparently a fan of “Blazing Saddles” — was accused of punching a horse at the 2020 Tokyo Olympics. Here’s a better idea: Let’s just get rid of the whole sport.

— Roman gladiators are no longer a thing, which we can all agree is a good thing, right? There’s no need in a modern, supposedly civilized world for the “sport” (yep, I’m doing air quotes) of MMA, which is essentially two people in a cage attempting to beat each other to a bloody pulp, break someone’s arm or choke the other fighter into unconsciousness.

— All-Star games, of any kind. The NFL sort of wised up, eliminating its farce known as the Pro Bowl, though it still plans to have a skills competition and flag football game (FWIW, I won’t be watching that, either). Major League Baseball’s all-star game once served an actual purpose, matching the best players from two leagues that didn’t face each other during the regular season, but interleague play ended that. As for the NBA and the NHL, their midseason showcases are defense-free affairs that in no way mimic actual games.

— LIV Golf. One professional golf tour was boring enough. Why in the world would we need two? Especially one that’s funded by the repressive Saudi regime and led by the insufferable Greg Norman?

— Fishing is something you do to put a delicious meal on the table. It’s no more a sport than raising chickens or shucking oysters. Please quit trying to pass it off as such.

— Cornhole is a good way to get through the holidays without having to carry on a real conversation with annoying relatives. It serves no other real purpose. I shouldn’t come across cornhole matches on my TV at 2 in the morning when I’m having trouble sleeping.

Though, come to think of it, cornhole might serve one other purpose: a cure for amnesia.

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Paul Newberry is the national sports columnist for The Associated Press. Write to him at pnewberry(at)ap.org or at https://twitter.com/pnewberry1963

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AP sports: https://apnews.com/hub/sports and https://twitter.com/AP_Sports

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Congress To Track Evidence of Russian War Crimes in Ukraine

Congress is tracking and codifying evidence of Russian war crimes in Ukraine, a move meant to set the stage for future legal proceedings against Moscow’s army and Russian president Vladimir Putin.

“We are putting Russian troops on notice that the deliberate rape, torture, and slaughter of civilians in Ukraine will not go unanswered,” Rep. Michael McCaul (R., Texas), the incoming head of the House Foreign Relations Committee, told the Washington Free Beacon following the passage this week of legislation he helped craft. The bill, included in the 2023 National Defense Authorization Act (NDAA), a yearly spending bill, is among the first official efforts by U.S. lawmakers to document crimes being committed on the battlefield in Ukraine.

McCaul says the legislation will help America prosecute Russian soldiers in a future war crimes tribunal. Ten months into the unprovoked war that has galvanized Western nations against Russia, more than 6,490 Ukrainian civilians have been killed, another 9,972 have been injured, and 6.6 million displaced, according to official estimates. Human rights organizations allege somewhere around 50,000 war crimes committed by Russian forces, including the bombings of hospitals and schools, as well as gang rapes and other forms of sexual assault.

“Blood is on Vladimir Putin’s hands, and the world is watching,” McCaul said. “These thugs have kidnapped hundreds of thousands of innocent Ukrainian children and must be held accountable.”

The Ukraine Invasion War Crimes Deterrence and Accountability Act requires the president to report to Congress on all “atrocities committed” since February 2022, when Russia launched its unprovoked invasion. The White House will have 90 days to produce and furnish this report to Congress.

It will include information on U.S. efforts to “collect, analyze, and preserve evidence related to war crimes and other atrocities committed during the invasion,” according to the legislation. The White House must also detail how it can use this information for a domestic, foreign, or international court tribunal related to these crimes.

The legislation focuses on some of the worst alleged Russian war crimes. It refers to Russia’s war as a “premeditated, unprovoked, unjustified, and unlawful full-scale invasion of Ukraine.” Congress wants to document Moscow’s deliberate targeting of civilians, including attacks on hospitals, schools, and shelters, such as one bombing of a Mariupol-based theater that was serving as a shelter and was explicitly labeled as containing children.

Other crimes of interest to Congress include “unlawful civilian deportations,” “the taking of hostages,” and the “rape, or sexual assault or abuse” of citizens, according to the bill.

The lead prosecutor in a team of experts looking into war crimes in Ukraine told Reuters that recent Russian attacks have “focused on eliminating infrastructure crucial to the means of civilian survival such as heat, water, power, and medical facilities.”

And multiple experts said the attacks’ “primary purpose” is “to spread terror among the civilian population,” which is forbidden under international law.

The legislation is well-timed, as world leaders are expected to gather in February to collectively push for a series of war crimes trials, according to a new report. The issue is “high on the agenda” when world leaders from across North America and Europe get together for the annual Munich Security Conference, an annual gathering that brings together high-ranking officials from across the globe.

“This theme of accountability, in the country of the Nuremberg trial, is the right place to do that,” German diplomat Christoph Heusgen, who leads the conference, told Defense One. “So I want to put the subject ‘how to prevent impunity’ high on the agenda.”

In addition to Russian war crimes, this year’s version of the NDAA also includes provisions that will bolster Taiwan’s defense against a potential invasion by China, another issue of great concern for U.S. foreign policy leaders such as McCaul. These provisions will include “increasing the United States’ strategic clarity towards a CCP invasion” and “establishing a comprehensive set of tools to increase Taiwan’s military capabilities to deter and defeat a CCP attack,” according to information published by the lawmaker’s office.

The post Congress To Track Evidence of Russian War Crimes in Ukraine appeared first on Washington Free Beacon.

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U.S. House Jan. 6 committee preparing to vote on recommending least 3 criminal charges against Trump -report

2022-12-16T20:33:57Z

The U.S. House of Representatives committee investigating the Jan. 6, 2021, Capitol attack is preparing to vote on urging the Justice Department to pursue at least three criminal charges against former president Donald Trump, including insurrection, Politico reported on Friday, citing two unidentified people familiar with the matter.

Related Galleries:

Former U.S. President Donald Trump announces that he will once again run for U.S. president in the 2024 U.S. presidential election during an event at his Mar-a-Lago estate in Palm Beach, Florida, U.S. November 15, 2022. REUTERS/Jonathan Ernst/File Photo

A mob of supporters of then-U.S. President Donald Trump climb through a window they broke as they storm the U.S. Capitol Building in Washington, U.S., January 6, 2021. REUTERS/Leah Millis/File Photo


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Argentines flock to Qatar for chance to win the World Cup

DOHA, Qatar (AP) — From a soccer-crazed country known for its world-class players and its repeated economic crises, Argentine fans are making great sacrifices to be in Qatar to see their team try to win the World Cup for the first time in 36 years.

Passionate and noisy, the euphoria in Doha has grown to the rhythm of “Muchachos” — the unofficial anthem of the fans — and with each victory of Lionel Messi and his team ahead of Sunday’s final against defending champion France.

In a corner of the Souq Waqif bazaar in the capital, locals and tourists gathered around a young woman clad in the Argentine sky blue-and-white stripped jersey juggling a ball with her feet. In a hand-written banner in English and Arabic, she asks for tickets to the World Cup final at Lusail Stadium. Passersby leave change on a hat placed on the ground.

“Soccer for me is everything,” said 24-year-old Belen Godoy, who has been in Doha for a month and attended nearly every Argentina game by buying resale tickets.

“I left my family. I spent all my savings,” she said. “I’ll return to Buenos Aires and I don’t know how I’m going to pay the rent … but no one can take away what I’ve lived.”

Nearby, Cristian Machinelli walked along one of the winding cobbled alleys of the labyrinthine bazaar draped in an Argentina flag decorated with images of Messi and late soccer great Diego Maradona kissing the World Cup trophy.

Maradona led the team to its last World Cup title, in 1986.

“I sold a Toyota truck for this,” the 34-year-old Machinelli said. “It’s what I’ve been spending here so far, and I have enough left to buy the ticket to the final. There’s no explanation, no reasoning, except that we Argentines are just crazy about soccer, and we’ll do any craziness to support (the team).”

There are no official numbers on how many Argentine fans have traveled to Qatar. Not all of them come from Argentina, however, with many living in Europe and the United States.

Although not always the majority in the stands, the fans’ encouragment during matches — chants accompanied by drums — seemed to help their team at crucial moments.

“When we lost against Saudi Arabia (in the first game) the people were behind us. We felt everyone’s support and that is matchless,” Argentina coach Lionel Scaloni said. “We’re all rooting for for the same side. We all want the common good — we’re all fans of the sky blue and white.”

Argentine fan Julián Santander attended that first game against Saudi Arabia at Lusail Stadium wearing a team jersey. His friends said he had brought the team back luck.

“I went to see Spain against Costa Rica. I have the Spain shirt because of my Spanish family, and they ended up winning 7-0. A friend told me to leave it on for Argentina,” the 23-year-old Santander said.

Since then, he has been rooting for Messi and Co. while wearing Spain’s red national team shirt.

After the first loss, Santander’s father, Osvaldo, also changed his wardrobe for Argentina’s crucial match against Mexico. He wore a black replica of a shirt worn by one of the Argentina goalkeepers during the 2014 World Cup.

“I was in mourning,” the 57-year-old Osvaldo Santander said. “We sacrificed jobs, studies, life, so much for our passion and they were sending us back home. Things turned around and now we’re just three days from a moment that who knows how it will play out.”

Reaching the World Cup final brought much-needed relief to a country mired in a bruising economic crisis with one of the world’s highest inflation rates and growing poverty rates.

“The plane and match tickets are very expensive. We’ve made a lot of efforts to be here,” Argentine fan Viviana Rodríguez said. “Argentina is going through such a difficult time politically and economically. Everything is 10 times more expensive.”

The 53-year-old Rodríguez and her son, 20-year-old Lautaro Longhi, joined a demonstration in Doha to ask FIFA for fair ticket prices for the final because resale options are selling for several times face value.

“They’re asking for the equivalent of a brand new car for a ticket. It’s a fortune,” Longhi said, worried that he might miss out on watching Messi lift the trophy.

In essence, every Argentine fan in Qatar feels as important as the 11 players on the field.

“It would be a good way to give closure to a life, although I don’t want to be apocalyptic,” Osvaldo Santander said. “As a fan, I’ve done all that I had to do — I traveled, I left loved ones behind, I spent a ton of money, I fought for the tickets. That’s what we’re here for.”

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Associated Press writer Luis Andres Henao contributed to this report.

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AP World Cup coverage: https://apnews.com/hub/world-cup and https://twitter.com/AP_Sports

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The SEC is reaching out to Blackstone and Starwood after the real-estate giants limited investors’ withdrawals from their funds, report says

Steve Schwarzman, the chief executive of Blackstone, wears a purple tie in front of a blue background.Steve Schwarzman, the chief executive of Blackstone.

Roy Rochlin/Getty Images

  • Investors are pulling their money from big real estate funds at a quick pace.
  • Blackstone and Starwood recently limited investors’ ability to withdraw.
  • The SEC is now asking for details about these decisions, according to Bloomberg.

Blackstone and Starwood Capital Group are drawing attention from the Securities and Exchange Commission for their recent moves to limit the ability of individual investors to take their money out of the companies’ real estate investment trusts, according to Bloomberg.

The real estate funds have recently seen a surge in withdrawal requests amid a broad drop in investor sentiment and potential economic downturn. This led both private equity giants to pause redemptions after monthly and quarterly withdrawal limits were reached.

Investors in and outside of the funds took notice, as has, apparently, the SEC. The regulatory agency reached out to both Blackstone and Starwood this month to assess the market impact and specific circumstances of the pauses, according to Bloomberg, which cited multiple anonymous sources. 

The agency was looking into how the firms served redemptions to their clients, and if any affiliates of the two companies sold their shares before the clients, according to one of the sources. The inquiries are not indications that either firm is under investigation or committed any wrongdoing, the report said.

A Blackstone spokesperson declined to comment to Insider. Representatives for the SEC and Starwood did not immediately return requests for comment on Friday.

Individual investors deal a blow to Blackstone’s stock

Blackstone launched the Blackstone Real Estate Income Trust, known in the industry as BREIT, in 2017 as a way to cater to rich individuals — beyond the firm’s typical large institutional client — who were in search of better returns in what was then a near-zero-interest rate world.  

By the assets that flowed into the fund, it was a success. It has amassed $68 billion, and last year the firm looked to replicate the fund for private-credit investors with the Blackstone Private Credit Fund, known as BCRED.

But this year has brought challenges as the real estate market sours and more investors are turning bearish. Bill Katz, a research analyst at Credit Suisse who tracks Blackstone, raised concern over the funds’ growth in a report to clients and downgraded the stock to the equivalent of a “sell” rating. Blackstone shares are down 21% in the past month, compared with a 3% drop for the S&P 500.

In recent statements to Insider, a Blackstone representative said BREIT returns have been strong. The fund has posted a return of 8.4% so far this year and a three-year annualized return of 14.9%, according to its website, representing respectable performance to some analysts.

“In response to BREIT redemption limits, our experts agree that the fund is delivering on its mandate from both a performance and liquidity perspective,” Morgan Stanley research analysts said in a report to clients on Friday.

Read the original article on Business Insider
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U.N. shelves bid by Afghan Taliban, Myanmar junta for representation

2022-12-16T20:22:40Z

A Taliban soldier sits outside a news conference where Taliban officials announced they will start issuing passports to its citizens again following months of delays that hampered attempts by those trying to flee the country after the Taliban seized control, in Kabul, Afghanistan October 5, 2021. REUTERS/Jorge Silva

The United Nations General Assembly on Friday approved postponing – for the second time – a decision on whether the Afghan Taliban administration and the Myanmar junta can send a United Nations ambassador to New York.

The 193-member General Assembly approved without a vote the decision by the U.N. credentials committee, which also deferred a decision on rival claims to Libya’s U.N. seat. The nine-member committee includes Russia, China and the United States.

The postponement of decisions on Myanmar, Afghanistan and Libya leaves the current envoys in place. But the credentials committee said it could “revert to consideration of these credentials at a future time in the seventy-seventh session” of the General Assembly, which ends in September next year.

Competing claims were again made for the seats of Myanmar and Afghanistan with the Taliban administration and Myanmar’s junta pitted against envoys of the governments they ousted last year. U.N. acceptance of the Taliban administration or Myanmar’s junta would be a step toward the international recognition sought by both.

A rival claim was also made this year for Libya’s U.N. seat – currently held by the Government of National Unity in Tripoli – by a “Government of National Stability” led by Fathi Bashagha and backed by a parliament in the country’s east.

The Taliban seized power in mid-August last year from the internationally recognized government. When the Taliban last ruled Afghanistan between 1996 and 2001, the ambassador of the government they toppled remained the U.N. envoy after the credentials committee deferred its decision on the seat.

Myanmar’s junta seized power from Aung San Suu Kyi’s elected government in February last year.

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Fed could push rates higher, keep them there longer, policymakers say

2022-12-16T20:12:06Z

New York Federal Reserve President John Williams speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/File Photo

Federal Reserve policymakers may need to lift U.S. borrowing costs above the peak 5.1% they penciled in just this week, and keep them there into 2024 to slow the labor market enough to squeeze high inflation out of the economy, two of them signaled on Friday.

The hawkish messages, delivered in separate appearances by New York Fed President John Williams and San Francisco Fed President Mary Daly, underscore the U.S. central bank’s determination to do what it takes to ease price pressures that erode wages and impose an especially high tax on lower-income Americans.

They also stand in stark contrast with expectations expressed in financial markets. Traders on Friday leaned into bets that the Fed policy rate will peak below 5% and the Fed will start cutting rates in the second half of 2023 to cushion what the New York Fed’s own internal model suggests will be an economic downturn.

Williams said he’s not expecting a recession, but told Bloomberg TV “we’re going to have to do what’s necessary” to get inflation back to the Fed’s 2% target, adding that the peak rate “could be higher than what we’ve written down.”

The Fed this year has raised rates from near zero in March to a range of 4.25%-4.5% in the steepest round of rate hikes since the 1980s, the last time it battled fast-rising prices. Inflation by the Fed’s preferred measure is currently running at 6%, three times its 2% target.

Earlier this week as policymakers delivered the latest rate hike they also published projections that signaled nearly all of them see the need to lift rates still further, to a 5%-5.25% range, in coming months.

Inflation has cooled in recent months, as supply chain problems eased and higher interest rates have restrained the housing market.

But the labor market has remained strong, with employers adding hundreds of thousands of jobs each month and the unemployment rate at a low 3.7%. With workers in short supply, particularly after millions retired early on in the pandemic, wage growth is running well beyond what the economy can sustain, and adding to upward price pressure, policymakers say.

Central bankers have become increasingly blunt that bringing inflation down will require a labor market slowdown that they will not try to offset with interest-rate cuts until they are confident they have beaten back inflation.

Over the past several rate-hiking cycles, the Fed raised rates and kept them there for an average of 11 months before cutting them.

“I think 11 months is a starting point, is a reasonable starting point. But I’m prepared to do more if more is required,” San Francisco Fed chief Daly said, adding that exactly how long will depend on the data. She said her own forecast for rates is in line with the 5.1% peak rate expected by the majority of her colleagues.

While the Fed is seen likely to raise rates at its next couple of meetings, Daly’s remarks suggests rates could stay high into the first couple of months of 2024 – even as the Fed predicts the unemployment rate will rise to 4.6%, an increase that analysts say could mean the loss of 1.5 million or more jobs.

As of last month, central bank staff economists viewed the risks of recession against continued growth as roughly even, minutes from the Fed’s November policy meeting show.

Meanwhile, on Thursday, the New York Fed said its internal economic model sees a 0.3% decline in overall activity next year and flat growth in 2024, with a return to positive growth the year after.

Fed policymakers this week forecast GDP growing about a half-a-percent next year.

In his news conference after the end of the Dec. 13-14 policy meeting, Fed Chair Jerome Powell nodded to the challenges that higher unemployment, if not necessarily a recession, would pose.

“I wish there were a completely painless way to restore price stability,” he said. “There isn’t, and this is the best we can do.”

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Twitter chaos too much? There are plenty of other options

Twitter has been engulfed in chaos since billionaire Tesla CEO Elon Musk took the helm, cutting the company’s workforce in half, upending the platform’s verification system, reinstating previously banned accounts including those of white nationalists and suspending journalists who’ve been covering him.

While it’s not clear if the drama is causing many users to leave — in fact, having a front-row seat to the chaos may prove entertaining to some — lesser-known sites Mastodon and even Tumblr are emerging as new (or renewed) alternatives. Here’s a look at some of them.

(Oh, and if you are leaving Twitter and want to preserve your tweet history, you can download it by going to your profile settings and clicking on “your account” then “download an archive of your data.”)

MASTODON

Sharing a name with an extinct mammal resembling an elephant, Mastodon has emerged as a front-runner among those curious about life beyond the blue bird. It shares some similarities with Twitter, but there are some big differences — and not just that its version of tweets are officially called “toots.”

Mastodon is a decentralized social network. That means it’s not owned by a single company or billionaire. Rather, it’s made up of a network of servers, each run independently but able to connect so people on different servers can communicate. There are no ads as Mastodon is funded by donations, grants and other means.

Mastodon’s feed is chronological, unlike Facebook, Instagram, TikTok or Twitter, which all use algorithms to get people to spend as much time on a site as possible.

It can be a tad daunting to try to sign up to Mastodon. Because each server is run separately, you will need to first pick one you want to join, then go through the steps to create an account and agree with the server’s rules. There are general and interest- and location-based ones, but in the end it won’t really matter. Once you’re in, the feed is reminiscent of Twitter. You can write (up to 500 characters), post photos or videos, and follow accounts as well as see a general public feed.

“We present a vision of social media that cannot be bought and owned by any billionaire, and strive to create a more resilient global platform without profit incentives,” Mastodon’s website says.

Currently, the site has more than 1 million users, nearly half of whom signed up after Musk took over Twitter on Oct. 27, according to founder Eugen Rochko.

CLUBHOUSE

Remember Clubhouse, back when we were all under lockdown and couldn’t talk in person? It’s the buzzy audio-only app that got somewhat overshadowed by copycat Twitter Spaces, which also lets people talk to each other (think conference call, podcast or “audio chat”) about topics of interest.

Once you join, Clubhouse lets you start or listen into conversations on a host of topics, from tech to pro sports, parenting, Black literature and so on. There are no posts, photos or videos — only people’s profile pictures and their voices. Conversations can be intimate, like a phone call, or might include thousands of people listening to a talk by boldface names, like a conference or stage interview.

SUBSTACK and MEDIUM

For longer reads, newsletters, and general information absorption, these sites are perhaps closest to the blog era of the early 2000s. You can read both without signing up or paying, but some writers, creators and podcasters create premium content for paying subscribers.

TUMBLR

Tumblr, which was all but left for dead, appears to be enjoying somewhat of a resurgence. The words/photos/art/video site is known for its devoted fan base and has been home to angry posts from celebrities like Taylor Swift. It angered many users in 2018 when it banned porn and “adult content,” which made up a big part of its highly visual and meme-friendly online presence and led to a large drop in its user base.

Onboarding is simple, and for those who miss the early years of social media, there’s a decidedly retro, comforting feel to the site.

T2 or TBD?

Gabor Cselle, a veteran of Google who worked at Twitter from 2014 to 2016, is determined to create a better Twitter. For now, he’s calling it T2 and says the Web domain name he purchased for it — t2.social — cost $7.16. T2, which may or may not be its final name, is currently accepting signups for its waitlist, but the site is clearly not yet functioning.

“I think Twitter always had a problem in figuring out what to do and how to decide on what to do. And that was always kind of in the back of my mind,” Cselle told The Associated Press. “I decided to just go for it. I didn’t see anyone else really doing it.”

Twitter-style text and TikTok-style videos are one idea. Cselle says for this to work, the text really has to be “amped up” so it’s not drowned out by the videos.

“My bet is that it’s going to be easier and more efficient to build a better Twitter or public square now than fix the legacy problems at Twitter,” Cselle added.

Cselle, of course, is not the only one jumping to the opportunity. Project Mushroom, for instance, plans a “safe place on the internet — a community-led open-source home for creators seeking justice on an overheating planet” and says it has received 25,000 early signups to its yet-to-launch platform.

“My sense is that things are going to further fragment into more ideological platforms and some will die and then we’ll see some new consolidation emerge over the next couple of years,” said Jennifer Stromer-Galley, a professor at Syracuse University who studies social media.

NEWS SITES

One of Twitter’s most valuable features has been the way it allows people to find information within seconds. Was that just an earthquake? Twitter will tell you. Or at least it did.

While there is no perfect replacement for Twitter, staying up to date with local, national and international news is easier than ever. Apple and Google both offer news services that aggregate articles from a broad range of publication (Apple offers a premium subscription service that gets you access to more articles, while Google shows free stories first.) There’s also Flipboard, which works kind of like a personal magazine curated to your interests.

Of course, subscribing to individual publications (or downloading a free news app such as the AP’s AP News) is also an option.

Yes, you might have to pay for some of them and no, you won’t get a blue check mark with your subscription.

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