Shafik said tenured professor Joseph Massad, who a day after the October 7 attack penned a piece online that labeled it “awesome,” had been “spoken to” by members of his department of Middle Eastern, South Asian and African Studies. Shafik walked back her on answer on his removal at committee chair, but then later confirmed he was under investigation for discriminatory remarks.
Federal Reserve officials have been saying for months they need to see more convincing data demonstrating that inflation is on a sustainable path to 2% before they can feel comfortable cutting rates. Last month’s unexpectedly hot Consumer Price Index report is the exact opposite of that. That’s why Fed Chair Powell conveyed on Tuesday the central bank won’t be cutting interest rates any time soon.