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. >> let's go straight to cnn's matt egan. that, what can you tell us about this? >> reporter: well, the harvard crimson is reporting that claudine gay it is set to resign today, marking the shortest tenure of a presidency in the universities nearly 400 year history. we have not independently confirmed that. we reached out to harvard. we have yet to hear back, but we know that claudine gay is under enormous pressure here. there has been so many things that have gone wrong in just a few last months. the initial response to the october 7th attack was criticized, even by harvard officials. we also know the testimony before congress last month was widely criticized last -- as well. gay did apologize, but the criticism continued. lawmakers have looked into the issue. and at the same time we also have these plagiarism allegations that have swirled around claudine gay. you add that all up and it has proven to be, apparently according to the harvard crimson, too much for claudine gay's presidency to survive. according to the paper, she does plan to step down today. >> matt
. >> let's go straight to cnn's matt egan. that, what can you tell us about this? >> reporter: well, the harvard crimson is reporting that claudine gay it is set to resign today, marking the shortest tenure of a presidency in the universities nearly 400 year history. we have not independently confirmed that. we reached out to harvard. we have yet to hear back, but we know that claudine gay is under enormous pressure here. there has been so many things that have gone wrong in just a...
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matt egan is following this story for us. what is happening here? tell us the latest. tell us what is next. >> breonna and boris, claudine gay is resigning after a tumultuous six months at the helm of one of america's most prestigious universities. gay describe this decision as, quote, difficult beyond words, but she said it was one made with deep low for harvard. in a statement to the harvard community, she wrote that after consultation with members of the corporation it has become clear that it is in the best interest of harvard for me to resign so that our community can navigate this moment of extraordinary challenge with a focus on the institution rather than the individual. this comes three weeks after the harvard corporation issued its unanimous support for gay. they have accepted the resignation of gay who we should note is the first black president in harvard's nearly 400 year history. also, she is just a second woman to lead harvard. the harvard crimson notes that this marks the shortest presidency in harvard's history. let me read you what the harvard corpora
matt egan is following this story for us. what is happening here? tell us the latest. tell us what is next. >> breonna and boris, claudine gay is resigning after a tumultuous six months at the helm of one of america's most prestigious universities. gay describe this decision as, quote, difficult beyond words, but she said it was one made with deep low for harvard. in a statement to the harvard community, she wrote that after consultation with members of the corporation it has become clear...
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Jan 25, 2024
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let's discuss this now with matt egan, and cnn's catherine rampell.rine, this is the message certainly that the biden administration is selling, and there are a lot of excellent indicators. there's also a lot of negative sentiment. i know i feel like a broken record saying that, time again, but that is what we see. >> absolutely. there has been for a while a big disconnect between how the economy looks on paper, if we're talking about gdp, unemployment, even cooling inflation, and how people feel about it. there has been a lot of can sue more pessimism throughout the united states. that said, in the past few months we have seen an uptick in consumer sentiment by a host of different metrics. if you look at what share of americans believe the economy is in recession, it is now fewer than half. it is still very high, to be clear, by historical numbers. but american seem to be getting a little more optimistic, and so i think the best-case scenario for biden's reelection campaign is not necessarily that the economy becomes a winning issue for the incumbent
let's discuss this now with matt egan, and cnn's catherine rampell.rine, this is the message certainly that the biden administration is selling, and there are a lot of excellent indicators. there's also a lot of negative sentiment. i know i feel like a broken record saying that, time again, but that is what we see. >> absolutely. there has been for a while a big disconnect between how the economy looks on paper, if we're talking about gdp, unemployment, even cooling inflation, and how...
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Jan 1, 2024
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. >> we have matt egan to talk to us about the economy. pretty optimistic there, classic biden, is his optimism warranted, matt? >> a resident fighting to get reelected, it's basically required to be optimistic. but economist are also bullish on america, especially compared to a year ago when it was gloom and doom and people assume that a recession was unavoidable. looking at 2024, there's reasons to be optimistic. first of all, inflation. a lot of people thought it would cool but very few thought it would cool this fast. one economist is praising it as a remarkable cooldown, and because of that, the fed is now preparing to cut interest rates, maybe as soon as march, that means lowering car loans, credit cards, all of this has fired up wall street, block busters stock market returns in 2023. a lot of that is fueled by real optimism about the economy. despite all these warnings, the jobs market is historically strong, layoffs are low, hiring is robust, lastly, paychecks are finally catching up to prices, and that is important. none of this
. >> we have matt egan to talk to us about the economy. pretty optimistic there, classic biden, is his optimism warranted, matt? >> a resident fighting to get reelected, it's basically required to be optimistic. but economist are also bullish on america, especially compared to a year ago when it was gloom and doom and people assume that a recession was unavoidable. looking at 2024, there's reasons to be optimistic. first of all, inflation. a lot of people thought it would cool but...
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Jan 18, 2024
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let's go to matt egan with a closer look at the numbers and what they mean.uld we be encouraged by these numbers? >> reporter: i think so, especially on the jobs front, initial claims, a proxy for layoffs, falling to 187,000. that is not just a 16 month low , this is historically low. back in 2020, during the peak of the covid crisis, this metric spite to above 6 million. crazy high. anything above 300,000 would be flashing a recession warning. clearly, we are nowhere near that level. for a simple reason, bosses cannot let go of the workers they have because they needed to keep up with the strong demand. very robust retail sales in december. bosses are worried, if they let go of workers, they cannot find new ones. the jobs market is in a good place with unemployment below 4% and steady hiring. paychecks are finally starting to rise faster than prices. as you know, this economy does not have a jobs problem, it is a cost-of-living problem. white house officials even say there are affordability challenge, cars, childcare, housing. there is nothing about the numb
let's go to matt egan with a closer look at the numbers and what they mean.uld we be encouraged by these numbers? >> reporter: i think so, especially on the jobs front, initial claims, a proxy for layoffs, falling to 187,000. that is not just a 16 month low , this is historically low. back in 2020, during the peak of the covid crisis, this metric spite to above 6 million. crazy high. anything above 300,000 would be flashing a recession warning. clearly, we are nowhere near that level. for...
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Jan 3, 2024
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matt egan, thanks so much for the update. >> a lot of digits there. >>> coming up, a 16-year-old is shakingd of darts, and the world dirt championship is happening right now. we will have more on that 16- year-old pre-match ritual, and how he is doing in that final. to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. >>> now, as we speak, there is a young, 16-year-old, who prepares, feels himself with the daily omelettes, followed by a pizza, competing fiercely in the world darts championship. >> the peak of athleticism. omelette followed by pizza. luke littler is the youngest finalist in the history of the competition. maybe not the youngest looking, though. walk us through what littler said ahead o
matt egan, thanks so much for the update. >> a lot of digits there. >>> coming up, a 16-year-old is shakingd of darts, and the world dirt championship is happening right now. we will have more on that 16- year-old pre-match ritual, and how he is doing in that final. to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow...
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cnn's matt egan starts off coverage on her resignation. what more do we know about the seemingly sudden move, considering harvard edits board have been publicly standing behind dr. gay for the past month? >> jake, clearly this is a very difficult moment for one of the most prestigious universities on the planet. they have now decided to accept the resignation of claudine gay , the first black president in harvard's nearly 400 year history, and just the second woman to ever lead this university. as you noted, it was just three weeks ago that the school's top board, they voiced their unanimous support for gay and now they are accepting a letter of resignation. in a statement, they said that gay has shown remarkable resilience in the face of deeply personal and sustained attacks, and while some of this is played out in the public domain, much of it is taken the form of republic and in some cases racist vitriol directed at her through disgraceful emails and phone calls. now, the harvard corporation, they say they accept this resignation with s
cnn's matt egan starts off coverage on her resignation. what more do we know about the seemingly sudden move, considering harvard edits board have been publicly standing behind dr. gay for the past month? >> jake, clearly this is a very difficult moment for one of the most prestigious universities on the planet. they have now decided to accept the resignation of claudine gay , the first black president in harvard's nearly 400 year history, and just the second woman to ever lead this...
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Jan 25, 2024
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our matt egan has reporting on that and he joins us this morning.hey've got to change the narrative, matt, on biden cometbidenomics and people feeling it. >> janet yellen and the white house, they want to take credit for the economic comeback from covid. they are being very careful not to declare mission accomplished. that makes sense to me. when you look at the economic indicators, there no doubt bright spots, low unemployment, 40 401(k)s are up. people are feeling better about the economy. they're going to come off as tone deaf if they focus on the positives. there is an affordability crisis. in the major speech by yellen, she's going to flat out say, quote, it is still too hard to be a working parent. she's going to focus on child care, housing, education and note that millions of children were plunged back into poverty when the expanded child tax credit went away. the message from yellen, they're all in on the middle class and their work is not done here. >> the importance of the message, i think, is underscored by great reporting you have done.
our matt egan has reporting on that and he joins us this morning.hey've got to change the narrative, matt, on biden cometbidenomics and people feeling it. >> janet yellen and the white house, they want to take credit for the economic comeback from covid. they are being very careful not to declare mission accomplished. that makes sense to me. when you look at the economic indicators, there no doubt bright spots, low unemployment, 40 401(k)s are up. people are feeling better about the...
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Jan 24, 2024
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matt egan is with us now. this is something that the u.s.cretary, janet yellen is aaaware of. >> she is. she's giving a major speech tomorrow in chicago. excerpts of the speech shared with cnn shows yellen will focus in part on how the administration wants to lift up middle-class families who are dealing with real-world financial problems right now. key line from the speech, yellen's going to say, i'm quoting, it is still too hard to be a working parent. we need to get american families access to affordable childcare and other support for their children. now on that point about childcare, care.com has a study out that shows that parents spend on average 24% of their household income on childcare. 24%. and almost half the parents who responded to the survey say they're spending more than $18,000 a year, again, just on childcare. yellen plans to talk about other areas that they can focus on to help the middle class including housing, education, and she's going to note that the expanded child tax credit, which went away, plunged millions of chi
matt egan is with us now. this is something that the u.s.cretary, janet yellen is aaaware of. >> she is. she's giving a major speech tomorrow in chicago. excerpts of the speech shared with cnn shows yellen will focus in part on how the administration wants to lift up middle-class families who are dealing with real-world financial problems right now. key line from the speech, yellen's going to say, i'm quoting, it is still too hard to be a working parent. we need to get american families...
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matt egan has been covering this every step of the way. what's next? >> the last few months have been a nightmare for harvard and everyone who cares about harvard. the fact that she's resigned does no end that nightmare. the problems continue, including pressure from congress, the house committee that is investigating this plagiarism scandal. they made clear they are still want that mountain of documents from harvard. harvard is still very much on the hook to turn over this mountain of documents. we also know that there's an anti-semitism investigation from that same house committee. there's also a federal probe from the education department looking into allegations of anti-semitism and islamophobia. they have to find a new president of this school, one who is going to repair the reputation that has taken a big hit. i also think how all of this has gone down the last few weeks ha has raised questions about thehorse vard corporation. that's the powerful top board at harvard. it's chaired by the billionaire former obama official, and there's a lot of que
matt egan has been covering this every step of the way. what's next? >> the last few months have been a nightmare for harvard and everyone who cares about harvard. the fact that she's resigned does no end that nightmare. the problems continue, including pressure from congress, the house committee that is investigating this plagiarism scandal. they made clear they are still want that mountain of documents from harvard. harvard is still very much on the hook to turn over this mountain of...
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matt egan is following this story for us, and we should be clear, these two things are connected, because looking at her academic works, and certainly, there were problems with them, but that was something that came about, it seems, because of some of the criticism of what she said in that hearing. >> reporter: i think that is right. it is all connected. claudine gay is announcing that she is stepping down. she described this decision as difficult beyond words, and she used a deeply personal term to describe the past few months. let me read what she said. " it has been distressing to have doubt cast on my commitment to confronting hate and to upholding scholarly rigor. two values that are fundamental to who i am, and frightening to be subjected to personal attacks and threats fueled by racial animus. " this stunning development comes just three weeks after harvard's top board announced its unanimous support for gay. now that board, the harvard corporation, has accepted the resignation of gay, who we should note is the first black president in harvard's nearly 400 year history. she is just
matt egan is following this story for us, and we should be clear, these two things are connected, because looking at her academic works, and certainly, there were problems with them, but that was something that came about, it seems, because of some of the criticism of what she said in that hearing. >> reporter: i think that is right. it is all connected. claudine gay is announcing that she is stepping down. she described this decision as difficult beyond words, and she used a deeply...
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Jan 17, 2024
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matt egan has more details for us on this. what is the administration proposing? >> they're basically proposing taking a sledge hammer to overdraft fees. i don't think you will hear many americans complain because they're kind of the worst. first you run out of money in your bank account and then slapped with a fee. it's like getting kicked when you're already down. we're not talking about pennies. the average overdraft fee is $35. that adds up. since 2000, regulators say americans have been charged $280 billion on overdraft fees alone. $280 billion. now, under these new rules proposed by regulators the cost of an overdraft could go down to as little as $3. officials say this could save the average household $150 a year. that's nothing to sneeze at because they say overdraft fees hurt the most vulnerable, the people who can afford it the least. president biden put out a statement saying, quote, for too long some banks have charged exorbitant overdraft fees that hit the most vulnerable americans the hardest while banks pad their bottom lines. banks call it a servic
matt egan has more details for us on this. what is the administration proposing? >> they're basically proposing taking a sledge hammer to overdraft fees. i don't think you will hear many americans complain because they're kind of the worst. first you run out of money in your bank account and then slapped with a fee. it's like getting kicked when you're already down. we're not talking about pennies. the average overdraft fee is $35. that adds up. since 2000, regulators say americans have...
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Jan 31, 2024
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cnn's matt egan has much more.d everyone of the significance of these first meetings of the year. >> well, kate, the fed is preparing right now to make a significant shift in policy. this is a shift that everyone is going to feel. >> yeah. >> remember, the fed has been hiking interest rates at the fastest pace since the 1980s, right? all of that designed to try to get inflation under control. this, of course, has lifted the cost and a lot of the viewers out there can attest to. it can get more expensive to get a car loan and credit card debt and to get a mortgage and all of this tough medicine from the fed, it has actually worked and inflation has cooled off. it's cooled off so much that the fed can now s.t.atart finally lowering interest rates and giving borrowers a bit of a break for the first time since 2020. there is debate when it will happen. it's not going to happen today. there's almost no chance of a rate cut today, but the market is pricing a 60% chance of of a rate cut at the next meeting in march and th
cnn's matt egan has much more.d everyone of the significance of these first meetings of the year. >> well, kate, the fed is preparing right now to make a significant shift in policy. this is a shift that everyone is going to feel. >> yeah. >> remember, the fed has been hiking interest rates at the fastest pace since the 1980s, right? all of that designed to try to get inflation under control. this, of course, has lifted the cost and a lot of the viewers out there can attest...
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Jan 3, 2024
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gay told matt egan that she made a decision to resign last week before the latest tranche of claims of plagiarism came out. the university clearly felt torn by this. they said that she suffered enormously. racist vitriol coming her way by phone call and emails. they felt very badly for her. she will stay on at harvard and they say the search for a new president will occur in due course. >> all right. thank you. >>> earlier you heard governor chris christie call senator menendez a completely unethical, unprincipled politician. prosecutors are alleging a new superseding indictment that the bribery and extortion scheme went on longer than first believed. now with the details. what are the newest allegations? >> not only did it go on longer than they believed but it involved a second foreign country. >> not just egypt. >> now they're alleging that he took steps favorable to qatar and that he did it help to obtain multimillion dollars. among the things prosecutors allege menendez did, that he set up introductions between the qatari royal family. that he then hamdi praise on the qataris and
gay told matt egan that she made a decision to resign last week before the latest tranche of claims of plagiarism came out. the university clearly felt torn by this. they said that she suffered enormously. racist vitriol coming her way by phone call and emails. they felt very badly for her. she will stay on at harvard and they say the search for a new president will occur in due course. >> all right. thank you. >>> earlier you heard governor chris christie call senator menendez a...