Tag: News

• Before the end of the Cold War, the Iron Curtain cut off the Soviet Union from the rest of Europe.
• Life there was restricted, but as its leaders changed, Western influence began to reach residents.
• Still, some older generations held on to the communist structure and devotion to the state.

The Iron Curtain was a figurative and ideological wall — and eventually a physical one — that separated the Soviet Union from western Europe after World War II.

The name, widely attributed to Winston Churchill, hinted that life in the USSR was secretive and very different from other western, capitalist countries.

But vintage photos provide a peek behind the curtain and show that, while members of the Soviet Union worked tirelessly to prove its power to the rest of the world, there was also time for music, shopping, and vacations in the sun.

The Iron Curtain was a figurative and political barrier that divided Europe.

It sealed off the Soviet Union from Western countries between the end of World War II and the end of the Cold War in 1991.

The Soviet Union was believed to be brutally restrictive, but after Joseph Stalin died in 1953, there were changes to everyday life.

Source: Encyclopedia Britannica

In 1961, the Berlin Wall was built, and a combination of curiosity and fascination with American culture began to build throughout the '60s, '70s, and '80s.

Source: History.com

Some of this fascination was fueled by the US State Department, which sent popular American music to Eastern Europe.

Music like jazz gave people a chance to experiment with a new version of entertainment they were otherwise unfamiliar with.

But Soviet leaders continued to ban rock 'n' roll music.

Source: Smithsonian Magazine

"Style hunters" were basically the Soviet version of today's hipsters. They would listen to smuggled music and dance in hidden discotheques before the police busted them.

Fascination with punk style took the youth by storm, and punks would do anything to get their hands on even just a few seconds of rock 'n' roll.

Source: The Guardian 

 

In the 1950s, "bone records" were old X-rays printed on flimsy vinyl sheets that were used to share American rock music. The sound quality was awful, but it provided the taste of rebellion they were after.

Sports, and particularly soccer, were popular in the Soviet Union. When the soccer team won the European Championship in 1960, there were huge celebrations.

In the earlier years of the Soviet Union, Stalin's leadership had organized teams as a way for the state to maintain control.

While the government was no longer in complete control by the 1960s, they still used victories as a propaganda tool and claimed success whenever there was a big win.

Source: livemint, futbolgrad

 

But as younger citizens stirred up trouble, members of the older generation continued to represent Soviet culture and abide by the communist lifestyle.

Public transport was a crucial tool to keep the republics connected. The Moscow Metro system was known to be the best kept to flaunt socialist success.

Source: ForeignPolicy

But public buses were the predominant means of transportation.

On a normal day, adults would head off to work and occasionally browse a store.

Photographer David Hlynsky told Fast Company that "very few products were branded with anything like the legendary trademarks of the West."

Source: Fast Company

Rather," he said, "these were generic products devoid of any accompanying mythology."

Pictured, a sales assistant shows shirts to customers at the GUM department store, known as the State Department store, in Red Square, Moscow.

Nikita Khrushchev, a former Soviet statesman, visited the US in the 1960s and tried to bring the concept of the Western supermarket to the Soviet Union, but it didn't catch on.

Source: Geohistory

The production and distribution systems just couldn't keep up, and most Soviet citizens continued to shop at small mom-and-pop stores.

Winter in Eastern Europe is known for its extremely cold temperatures, making daily commutes and grocery runs even harder.

But come the summertime, the sunshine and trips to the beach united everyone.

Extreme weather didn't stop military parades.

Every November, thousands would gather in below-freezing weather to celebrate the Soviet Union's anniversary in front of the Red Square.

Missiles were displayed to show the Soviet Union's military power and capabilities.

• Elon Musk just took the next step in rebranding Twitter as X.
• Twitter.com now redirects to the X.com domain.
• Musk has had a fascination with using the letter X for his businesses dating back to at least 1999.

Social media users trying to access Twitter may notice something different today: Typing in Twitter.com now redirects to the X.com domain.

Platform owner Elon Musk confirmed the change in a post early Friday morning, saying, "All core systems are now on X.com."

A popup message alerting users to the change reads: "We are letting you know that we are changing our URL, but your privacy and data protection settings remain the same."

The change marks the latest step in Musk's rebrand of Twitter to X since buying the platform in 2022.

Last year, he ditched Twitter's famous blue bird logo for an X and said posts on the platform should no longer be called "tweets" but instead "Xs."

Musk has long talked about his plans for an "everything" app called X that he envisions would take inspiration from Tencent's WeChat.

"If you're in China, you kind of live on WeChat," he's said. "It does everything — sort of like Twitter, plus PayPal, plus a whole bunch of things, and all rolled into one, with a great interface. It's really an excellent app, and we don't have anything like that outside of China."

Musk has also used the letter X in the branding of his other businesses.

Last year, he launched a company called xAI, for example. But his fascination with X for his businesses dates back decades: In 1999, Musk cofounded a financial services business with the domain X.com that would ultimately become part of PayPal through a merger. Not to mention, he runs SpaceX.

• Justice Alito and his wife had an upside-down American flag flying on their lawn in January 2021.
• Inverted flags were a symbol of the pro-Trump "Stop the Steal" movement.
• Justice Alito told The New York Times his wife put it there and blamed a dispute with neighbors. 

Supreme Court Justice Samuel Alito had an explanation for the pro-Trump symbol hanging outside his Virginia home in the weeks following the Capitol Riot: his wife put it there.

The New York Times first reported that an upside-down American flag was displayed at the conservative justice's property in January 2021, just weeks after the Capitol riot.

Inverted flags were a symbol used by the "Stop the Steal" movement, according to the Times, which falsely claims President Joe Biden didn't legitimately win the 2020 election.

The flag reportedly flew in the Alitos' yard while the court was deciding whether to hear cases about the election's legitimacy. The Supreme Court ultimately declined to hear the cases; Alito dissented at the time and wanted to take up the cases.

US flag code says the American flag shouldn't be flow upside down unless "except as a signal of dire distress in instances of extreme danger to life or property."

But when asked by the Times about the flag, Alito blamed his wife.

"I had no involvement whatsoever in the flying of the flag," Justice Alito told the Times in an email. "It was briefly placed by Mrs. Alito in response to a neighbor's use of objectionable and personally insulting language on yard signs."

Justice Alito's wife, Martha-Ann, had clashed with a neighbor who displayed an anti-Trump sign using an expletive, according to the Times.

The pro-Trump symbol is ethically questionable because Supreme Court Justices are supposed to maintain neutrality with respect to issues that could come before them, according to experts cited by the Times and the court's own Code of Conduct.

Another of the Supreme Court's conservative justices, Clarence Thomas, is facing accusations of unethical behavior himself. A series of ProPublica investigations revealed Thomas had accepted lavish gifts and vacations from a wealthy GOP donor but didn't disclose them.

Thomas denied any wrongdoing, and the donor said Thomas was simply a friend.

The Supreme Court's public information office did not immediately respond to a request for comment from Business Insider.

The court is expected to rule in June on its first January 6 case — a crucial decision that could upend the obstruction charges against Trump and hundreds of rioters, many of whom have already been convicted.

The Supreme Court is also deciding on a challenge from Trump himself, whose lawyers argued to the justices that he is immune from criminal prosecution for anything he did while in office.

Trump is facing felony charges accusing him of attempting to subvert the 2020 election results during his final days as president.

• The House passed a resolution on Friday condemning calls to defund the police.
• Several progressive House Democrats voted against it.
• The resolution also blamed progressive policies for an uptick in violence against cops.

The House of Representatives easily passed a resolution by a 337-61 margin on Friday that condemned calls to defund the police and blamed progressive policies for an uptick in violence against officers.

61 House Democrats voted against the resolution, while 134 — along with other Republicans present — voted for it.

The resolution, authored by Republican Rep. Pete Stauber of Minnesota, included several noncontroversial provisions, such as clauses expressing "condolences and solemn appreciation" for the families of slain officers and recognizing "the mental stress and strain law enforcement officers suffer."

But it also included language that Democrats took issue with, including blaming "decreased penalties and no-bail policies" for opening the door to "record criminal activity in cities across the country."

Many progressive district attorneys have supported efforts to reform bail policies, arguing that the status quo leads to poorer people who are accused of crimes being stuck in jail while the wealthy are able to buy their freedom.

Many Democrats voted against the resolution, arguing that it was an unserious effort to address police safety. Democratic Rep. Glenn Ivey of Maryland, a former prosecutor, listed off several previous bills that Democrats had supported and passed when they controlled Congress, including legislation to extend benefits to officers suffering from post-traumatic stress disorder.

Several of the Democrats who voted against the resolution have also expressed support, in various forms, for efforts to shift resources away from traditional policing and toward alternative community safety approaches.

This story will be updated with a list of House Democrats who voted against the resolution when it becomes available via the House Clerk.

• House committee hearing disrupted as Rep. Taylor Greene and Rep. Ocasio-Cortez clashed.
• Greene criticized Jasmine Crockett's appearance, prompting AOC to demand her words be struck.
• The dispute began during a vote to hold Attorney General Garland in contempt of Congress.

A House Oversight Committee was disrupted on Thursday evening when Reps. Marjorie Taylor Greene and Alexandria Ocasio-Cortez exchanged barbs that led to nearly an hour of disorder.

The war of words broke out as the committee voted to hold Attorney General Merrick Garland in contempt of Congress for refusing to hand over an audio recording of President Joe Biden's interview with special counsel Robert Hur.

Georgia Republican Rep. Greene asked if any Democrats on the panel were employing the daughter of Judge Juan Merchan, who is overseeing Donald Trump's hush money trial in New York.

"Please tell me what that has to do with Merrick Garland," Texas Democratic Rep. Jasmine Crockett asked, adding, "Do you know what we're here for?"

Greene responded: "I don't think you know what you're here for. I think your fake eyelashes are messing up what you're reading."

New York Democrat Ocasio-Cortez then stepped in, saying Greene's comments were "absolutely unacceptable" and asking her: "How dare you attack the physical appearance of another person?"

Ocasio-Cortez called for Greene's words to be struck from the record.

The pair traded jibes until Ocasio-Cortez told Greene, "Oh, girl, baby girl, don't even play."

She was then cut off by Chairman James Comer calling for order. At one point, Comer was forced to gesture to his ears and say, "I don't know if you noticed, but I have two hearing aids. I'm very deaf, I'm not understanding, everyone is shouting. I am doing the best I can."

Greene then said: "Baby, girl? I don't think so." Ocasio-Cortez replied: "We are gonna move and we are gonna take your words down."

Chairman Comer suspended the hearing while they decided whether to strike Greene's words. 

While they discussed it, Ocasio-Cortez could be heard saying "No way is that being allowed, not today."

She added: "We're not going to do a smarmy apology. She has to actually apologize. And that needs to be up to Ms. Crockett as well. It needs to be sincere."

Greene later said she would strike her words but refused to apologize and called Ocasio-Cortez "not intelligent."

Business Insider did not immediately receive a response from Greene's office regarding her comments.

Jasmine Crockett posted on X later that evening: "So MTG wanted to talk about my appearance in COMMITTEE?!"

"This is what happens when mentally deficient people who can't read and follow rules or just don't give a damn… somehow end up in CONGRESS!" she wrote.

The committee eventually voted to hold Merrick Garland in criminal contempt. It means the motion will move to the full House for a vote. 

AOC and Greene have a long history of animosity

In 2021, Greene attacked Ocasio-Cortez with a slew of offensive remarks. She called her a "little communist" and "not an American" to then labelling her a "hate-America terrorist sympathizer."

Ocasio-Cortez replied on X, writing, "First of all, I'm taller than her."

The pair clashed again last year when Greene accused Ocasio-Cortez of acting like a "teenage girl" after the latter accused the Republican of "trafficking in antisemitic conspiracy theories."

"I have repeatedly asked you to debate me, but you have been a coward and can't even respond. But you go on CNN and lie about me," Greene tweeted in response.

"When are you going to be an adult and actually debate me on policy instead of run your mouth like a teenage girl?"

• Interior designer Jade Joyner, cofounder of Metal + Petal, shared her best interior-design swaps. 
• To upgrade a living room, she recommended replacing mismatched throws with coordinating blankets. 
• She also suggested occasionally switching up your living room layout to keep things fresh. 

Swap out matching throw pillows for fresh patterns and designs.

According to Joyner, an easy way to change up your living-room design is to swap out matching pillows that may have come with your sofa for coordinating ones.

"Mix velvet and linens, add in silk, and bring in an animal print to keep the couch fresh," Joyner told Business Insider. 

Joyner also recommended collecting throw pillows from your favorite shops to create your own bespoke or custom-made look. 

Introduce real plant life into your home.

Though artificial plants can make your life easier, Joyner recommends swapping out all faux foliage and flowers for real ones to enhance your space and even your life.

"Live plants are key to any good room," Joyner told BI. "They clean the air and can sharpen the focus."

Replace floor lamps with sconces to add interest to a room.

To give your living room a little more flair, consider changing up your lighting. 

"I love a good sconce because it adds such interest to a room," Joyner said. "I use them often in bedrooms with adjustable arms, so you really have task lighting for reading."

Joyner also suggested using scones to add light to a dark hallway or to frame a mirror.

Upgrade your window treatments to something more custom if you have the budget.

Not only is going the custom route a great way to avoid poor-fitting window coverings that don't control the sunlight as you may wish, but also it tends to look nicer.

"Store-bought drapes are usually pretty thin and not very luxe," Joyner told BI. "Custom drapes upgrade your space immediately."

Joyner also said that with custom window treatments, you can also add puddling and widths together to create a more full appearance.

Exchange old throws with a lush cashmere or linen blanket.

Swap out your old throw blankets that don't match your interior aesthetic and invest in something that does. 

"Think cashmere or linen," Joyner said. "Spend a little more money on one great throw blanket that works with the room, and then you never have to hide them."

Though your sofa may not be expensive, a quality throw blanket could upgrade the look.

Make a statement by replacing your mismatched lamps with coordinating ones.

Joyner suggested making a statement by getting lamps that are either oversized or super scaled-down. 

"I love a good lamp, and search high and low for the right ones for the right space," Joyner said. "Lately, I have been obsessed with lamps in the kitchen. They could not be more perfect for adding low light to any kitchen."

Make your home more eco-friendly by changing out all of your bulbs to LEDs.

According to Joyner, the glow from LEDs is softer and prettier, and much more energy-efficient

"I want my rooms to read clean, not yellow," Joyner told BI. "Plus, they last so much longer."

Start an art collection by swapping out your posters for real art pieces.

"Find up-and-coming local artists that you love and start a collection you can grow over time," Joyner said.

Joyner recommended ordering affordable art prints from places like Juniper Print Shop and Artfully Walls and having them custom framed to make a lovely piece for your walls.

Add fun and fabulous wallpaper to your home in place of plain, painted walls.

"While I do love a good paint color, wallpaper can transform the space," Joyner told BI. "Textured papers specifically can add so much warmth to a space."

Though there are many options to choose from, Joyner recommended adding texture to a space through a print or grasscloth.

Move your layout around each season to keep your space feeling fresh.

It's free to rearrange your living space. For instance, you can move your sofa to face the fireplace in the winter and the windows in summer. 

Joyner suggested also suggested angling your furniture and adjusting your sofa and chairs before you have guests.

"I touch every piece of furniture before guests arrive to make the room feel fresh," Joyner said.

Replace machine-made rugs with unique vintage ones.

To bring more character to your living room, swap any manufactured rugs for something vintage. 

"Find a great vintage rug at an estate sale to bring in character and age," Joyner told BI. "I recently found two 10-by-14-foot rugs at an estate sale for $200 each. They aren't high quality, but they have lovely colors and a beautiful design." 

Machine-made, manufactured rugs are great, but if you really want to add some character, Joyner said, think about incorporating a hand-knotted rug.

Invest in a marvelous light fixture to replace your old ceiling fan.

One way to (literally) brighten a room is with a beautiful ceiling-light fixture.

To do so, Joyner suggested swapping your ceiling fan out in your living room for a marvelous light fixture.

Even if it needs to be ceiling-hugging, Joyner said, just finding something unique or vintage is a great way to add character to a new home.

This story was originally published on April 2, 2022, and most recently updated on May 17, 2024.

• Metros in the Sun Belt are notching the steepest rent declines in the country, Redfin reported.
• The pandemic-era demand that led to accelerated construction has since subsided, leading to more vacancies.
• These declines are happening as rent rises nationwide.

The country's steepest rent declines are happening in metro areas across the Sun Belt as pandemic-era demand spikes subside, Redfin reported Friday. 

Leading the regional trend is Austin, Texas, where rent fell 6.6% on an annual basis last month. Runner-ups included Nashville, Tennessee, Jacksonville, Miami, and San Diego.

"The Sun Belt has built a ton of new apartments in recent years, partly to meet the surge in demand brought on by the flood of people who moved in during the pandemic housing boom," Redfin Senior Economist Sheharyar Bokhari said in the report. "But the boom is over, and now property owners are struggling to fill vacancies, which is causing rents to fall."

For renters, it's a welcome sight: in recent years, a lack of apartment units, the rise of remote work, and a hard-to-breach housing market have sent rent pricing soaring. 

Nationally, the biggest rent drop actually took place not in the Sun Belt, but in Seattle, Washington. Median asking rent fell 7.3% year-over-year in the Northwestern city, Redfin cited. But the reasons were no different — like the Sun Belt, the metro witnessed a boom in construction. 

Outside of these areas, the trend isn't a nationwide phenomenon. In fact, US asking rent rose 1% to $1,648, marking its first gain in a year as home builders grapple to catch up with demand. 

According to CBRE's 2024 market outlook, 440,000 new units are expected to come online this year, potentially helping slow rent growth. At the same time, construction is expected to slow through the year, worn down by weak fundamentals and high interest rates.

As with rent, Redfin separately found that a property surplus has also sent housing prices lower, at least in Florida and Texas. Both Sun Belt states sped up construction during the pandemic to make room for a wave of remote workers, but years later, that's left behind a supply glut.

• The Subaru Ascent is a midsize, all-wheel-drive, three-row family SUV.
• I recently reviewed a $50,000 2024 Subaru Ascent in the Touring trim.
• I loved the Subaru Ascent's powerful engine, Symmetrical AWD system, and EyeSight safety system.

Competition is fierce among carmakers for family SUV sales. Honda, Nissan, Hyundai, and Kia have all recently introduced all-new or updated three-row family SUVs.

Subaru threw its hat into the ring in 2019 with the Ascent, giving loyal Forester, Impreza, and Outback drivers a legitimate three-row SUV option.

After a few years on the market, Subaru updated the Ascent with edgier styling and upgraded tech.

I recently spent a week driving a 2024 Subaru Ascent in the top-spec Touring Trim. I really enjoyed its revised styling, an impressive suite of standard safety features, and powerful engine.

Here's a closer look at some of my favorite features.

1. Subaru's 2.4-liter, turbocharged engine.

Power for the Ascent comes from Subaru's F24F 2.4-liter, turbocharged, horizontally opposed four-cylinder engine. The motor, which debuted back in 2019 with the Ascent, produces a stout 260 horsepower and 277 pound-feet of torque. The engine felt strong and robust, with a solid punch off the line.

2. The 3-camera driver assist system

Subaru's EyeSight suite of driver assistance features includes adaptive cruise control with lane centering, lane departure warning, pre-collision braking, automatic emergency steering, and pre-collision throttle management, which reduces engine power when it detects potential danger ahead.

Subaru updated the system in 2023 to include a new wide-angle camera mounted above the rearview mirror for improved pedestrian and cyclist detection.

I found the updated system excellent, building upon the strong performance of previous iterations.

3. Subaru's signature Symmetrical All-Wheel-Drive.

Most of Subaru's rivals offer all-wheel drive as a pricey optional extra. However, the Ascent comes standard with the brand's Symmetrical All-Wheel-Drive system.

What also sets the Subaru apart is that its AWD system constantly sends power to all four wheels. In most of Ascent's competitors, their AWD systems only send power to the rear wheels when they detect traction loss.

4. The Starlink infotainment system and 11.6-inch touchscreen.

The 2019-2022 Ascents' Starlink infotainment system lived in a standard 6.5-inch or optional 8.0-inch touchscreen. Starting in 2023, all Ascents come with an 11.6-inch vertical touchscreen. The updated setup also comes with wireless Apple CarPlay and Android Auto.

The updated Starlink Infotainment looks great and is intuitively organized. However, I did experience some occasional lag in response time, especially with the wireless Apple CarPlay.

5. The 360-degree camera system.

The optional 360-degree camera system can stitch together images from its front, rear, and side cameras to create a birds-eye view of the Ascent.

6. The rearview mirror camera

The Ascent is available with an optional rear-vision camera display embedded into the mirror. The rear camera itself is located on the tailgate at the top of the rear window. This feature really comes in handy when the Ascent is loaded up with cargo and you can't see out of the back window.

7. Quality interior.

The Ascent's overall interior fit and finish are outstanding. Everything feels solidly put together with quality materials. The Ascent Touring's perforated Nappa leather seats and wood grain trim inject a dose of luxury into a cabin that puts a premium on utility.

8. The Harmon-Kardon surround sound stereo

The Ascent can be optioned with a Harman-Kardon QuantumLogic surround sound system. We enjoyed the rich and powerful sound put out by the system's 14-speakers and 792-watt amplifier.

9. A Panoramic power moonroof

The Ascent can be had with a large, powered panoramic moonroof that fills the cabin with light. I found it to be a worthwhile option even though it robbed the first and second-row occupants of about an inch of headroom.

10. The MySubaru App

Ascent owners can remotely start, lock, and unlock their vehicles using their smartphones through the MySubaru App. You can also pre-set climate setting, get status reports on the all of the vehicles various systems and schedule service appoints using the app.

11. All kinds of power plugs

The Ascent not only offers a large number of charging options throughout its cabin, but it also offers charging in a variety of options. Up front, there are both USB-A and USB-C plugs, along with a traditional cigarette lighter-style outlet in the dash. Second- and third-row passengers have dedicated USB-A and USB-C plugs. There is also a 120V AC power socket located in front of the second row.

12. The panoramic rear-view mirror

Near the rearview mirror is a sunglass holder with an integrated panoramic mirror handy for keeping tabs on the rest of the cabin. The panoramic mirror complements the cabin connect feature on higher-trim models that amplifies the driver's voice to passengers in the back.

13. Lots of cargo room

Open up the powered tailgate and you'll find 17.6 cubic feet of cargo space behind the third row. With the third row folded, capacity increases to 42.1 cubic feet.

And with all rear seats down, the maximum cargo capacity behind the driver's seat is 72.8 cubic feet.

14. Built in sunshades

The Ascent can be optioned with sunshades built into its back doors. These come in handy when you run into an afternoon or morning glare.

• Lauren Boebert was in New York to support Trump's criminal trial on Thursday.
• But reports say she's been absent from her son Tyler's court hearings in her home state of Colorado.
• Boebert's son faces multiple felony charges, which she previously said "breaks my heart."

Rep. Lauren Boebert made headlines with her show of support at former President Donald Trump's hush-money trial on Thursday, but has been conspicuously absent for her own son's court appearances, according to multiple reports.

The Colorado congresswoman joined a gaggle of Freedom Caucus loyalists at the Manhattan criminal court on Thursday, writing on X: "I'll never stop standing up for President Trump, even if I'm the last one standing."

Speaking at a makeshift press conference outside the court, Boebert was heckled with chants of "Beetlejuice" — a reference to when she was thrown out of a Denver theater showing the film after vaping and apparently groping a male companion.

While Trump is facing criminal charges of falsifying business records in relation to a hush-money scheme to silence porn actor Stormy Daniels, Boebert's 19-year-old son Tyler has also had court dates.

Tyler Boebert was arrested in February on multiple felony charges including the criminal possession of identity documents, criminal trespass, and possession of a financial device.

He's had two court hearings to date — one on April 11 and another on May 9.

During the April hearing, Boebert was in Congress voting against the passage of the Sea Turtle Rescue Assistance and Rehabilitation Act, records show.

Boebert also wasn't in the Colorado courthouse last week, according to the Daily Mail. Local reports of both hearings made no mention of the congresswoman being there, and she was not visible on a video feed of the proceedings.

BI wasn't able to independently confirm the reports and Boebert's office didn't immediately reply to a request for comment.

Records show that the day before the May hearing, Boebert spoke in a House debate.

At that latest hearing, Tyler Boebert was rebuked by the judge for not having legal representation. He explained that he had only just filed the paperwork for a public defender.

In April's hearing, the teen described having difficulty "with the prices" of finding someone to defend him.

As news of her son's arrest broke, Boebert released a statement saying: "It breaks my heart to see my child struggling and, in this situation, especially when he has been provided multiple opportunities to get his life on track."

Tyler should be held accountable for "poor decisions just like any other citizen," she said.

It is not clear if she holds the former president to the same standards.

Showing up to support Trump in court has become something of a pilgrimage for many GOP figures in recent weeks.

But the latest cohort's visit did not sit well with some in the party, with anonymous GOP sources telling The Daily Beast that it opened the party up to losing votes in Congress.

An Oversight Committee vote was postponed in order to accommodate the visit, according to The New York Times.

• The Fed has a strong case to lower interest rates, according to BlackRock's Rick Rieder.
• The bond chief said high rates may stoke inflation, as the economy has shifted to being a net creditor.
• "I would lay out an argument that actually, if you cut interest rates, you bring down inflation," Rieder said. 

It might sound counterintuitive, but the Federal Reserve should cut rates to tackle inflation. 

In an interview with Bloomberg TV, BlackRock's bond chief Rick Rieder argued that the Fed needs to loosen monetary policy before inflation falls. 

 That's partly because high interest rates may actually be stoking inflation, thanks to the huge transfer of money in the economy from borrowers to lender, Rieder said. 

Cash in the economy has shifted from the public sector to the private sector, which is a net creditor, Rieder said. That means those companies — and the middle- to high-income workers at those firms – are actually benefitting from high interest rates, as they're benefiting from interest payments.

In theory, that could raise spending among middle- to high-income consumers, raising prices throughout the economy.

"I'm not certain that raising interest rates actually brings down inflation. In fact, I would lay out an argument that actually, if you cut interest rates, you bring down inflation," Rieder said. 

Others on Wall Street have made that argument despite it going against conventional wisdom. High interest rates could also be responsible for keeping shelter costs elevated, JPMorgan strategists recently said, suggesting that rate cuts were needed for any "meaningful downward pressure" on shelter inflation, which has been a big input into the elevated consumer price index readings in recent months. 

Inflation has come down dramatically from its peak, another reason rate cuts are in order, Rieder added. Central bankers have raised rates 525 basis points since March 2022, and the Fed's preferred inflation gauge clocked in at 2.5% in March, close to its official 2% target.

The economy also looks pretty stable, another green light for the Fed to pivot from its restrictive policy, Rieder said.

"As long as you're price-stable, employing a lot of people, growing the size of the workforce, and moderating a little bit on the growth side, it's pretty good," he added of the economy.

Yet, Fed officials have suggested interest rates are staying higher for longer, and markets have already dialed back their expectations for rate cuts this year. Investors see just one to three rate cuts by December, according to the CME FedWatch tool, down from as many as seven expected at the beginning of the year.