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US backing off Saudi Arabia over oil production cuts marks a significant reversal for Biden

3 years 8 months ago
Several months after President Joe Biden promised Saudi Arabia would suffer "consequences" after the Saudi-led OPEC+ oil cartel unexpectedly announced it would cut production, the Biden administration has no plans to take proactive steps to punish -- let alone significantly reorient its posture toward -- the oil-rich Middle East kingdom, multiple sources on Capitol Hill and in the administration tell CNN.

Is the Fed ignoring long Covid in its inflation fight?

3 years 8 months ago
Federal Reserve officials have for months blamed a dwindling supply of US workers for elevated inflation levels. During his December press conference, Fed Chair Jerome Powell said that Covid-related deaths accounted for a large chunk of the structural labor shortage in the economy.

The used car bubble is bursting -- and when to skip tipping

3 years 8 months ago
"Nightcap's" Jon Sarlin asks CNN's Peter Valdes-Dapena if used cars will keep getting cheaper and if more EV price cuts are coming. Plus, Lizzie Post, the great-great granddaughter of etiquette icon Emily Post, shares when to tip and when to skip. To get the day's business headlines sent directly to your inbox, sign up for the Nightcap newsletter.
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