WTF Just Happened Today

Thursday, January 26, 2023

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1/ The U.S. economy expanded at a 2.9% annualized rate in the fourth quarter last year, beating expectations despite high interest rates and fears of a recession. For the year overall, GDP grew 2.1% after growing 5.7% in 2021. Most economists, however, think the slowing economy will slide into at least a mild recession by midyear, triggered in part by the highest borrowing costs in decades. (CNBC / New York Times / Wall Street Journal / Washington Post / Politico / Associated Press / Bloomberg / CBS News)

2/ Adam Schiff announced that he is running for U.S. Senate in 2024, seeking to replace Dianne Feinstein. Schiff has served in the House since 2001. “We’re in the fight of our lives for the future of our country,” Schiff said. “Our democracy is under assault from MAGA extremists, who care only about gaining power and keeping it. And our economy is simply not working for millions of Americans, who are working harder than ever just to get by.” The 89-year-old Feinstein, meanwhile, won’t announce her 2024 intentions until next year, saying “I need a little bit of time, so it’s not this year.” (Washington Post / Los Angeles times / KQED / NBC News / Politico / Raw Story New York Times)

3/ The Biden administration banned mining for 20 years in the watershed upstream from Minnesota’s Boundary Waters Canoe Area Wilderness. The plan closes over 350 square miles to mineral and geothermal leasing critical to a proposed copper and nickel mine the Trump administration had tried to greenlight. A 20-year moratorium is the longest amount of time the Interior Department can sequester the land without congressional approval. (Washington Post / New York Times / CBS News)

4/ The FBI seized the computer infrastructure used by a ransomware gang, which extorted more than $100 million from more than 1,500 victims worldwide, including hospitals, schools, and others. The Justice Department said it used a court order to seize two back-end servers belonging to the Hive ransomware group in Los Angele...

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