Secretary of the Treasury Janet L. Yellen has commended the United States Senate and House of Representatives for passing the National Security Supplemental, providing crucial military, economic, and humanitarian support to Ukraine in its ongoing conflict with Russia. Yellen emphasized the significance of this assistance, stating, "This vital – and long overdue – assistance will bolster Ukraine’s capabilities on the battlefield."In addition to military aid, Yellen highlighted the importance of economic support to prevent Ukraine's collapse on the homefront and ensure the...
Researchers at the University of Rochester are making strides in developing new methods to monitor brain physiology and prevent neurological complications in patients undergoing extracorporeal membrane oxygenation (ECMO) therapy. The therapy, which involves circulating a patient's blood through a machine to support heart and lung function, is crucial for individuals with acute heart or lung failure but carries risks, including brain injury.Regine Choe, an associate professor of biomedical engineering, and Imad Khan, an assistant professor of neurology and neurosurgery,...
In a groundbreaking effort to increase COVID-19 vaccination rates in Sierra Leone, a team of economists and public health researchers led by Mushfiq Mobarak embarked on a journey to rural communities facing significant challenges in accessing vaccines.Mobarak, a professor of economics at Yale, highlighted the geographical obstacles faced by Sierra Leoneans, stating, "You can drive for three or four hours without encountering a town." He emphasized the impact of these conditions on vaccination uptake, saying, "If you and I were under those conditions, we wouldn’t get a...
Stanford neurologist Sharon Sha, MD, sheds light on the misconceptions surrounding memory and aging. Refuting the common belief that memory loss dramatically worsens with age, Sha explains that the effects of healthy aging on cognitive functions are subtle. She emphasizes, "Although dementia is linked to age, it's not an inevitable part of getting older."In a discussion on distinguishing between normal aging and dementia, Sha highlights that cognitive impairment indicating dementia involves functional decline, where individuals struggle to carry out daily tasks...
On March 21 at 1 p.m. ET, the U.S. Small Business Administration (SBA) and the White House’s Office of the National Cyber Director will host a virtual session entitled “Fortifying Your Business: Strategies for Resilience in the Digital Age.” The event is free and open to all who sign up.The session will feature speakers including Mark Madrid, Associate Administrator of the SBA’s Office of Entrepreneurial Development; Jacob (“Jake”) Braun, Acting Principal Deputy, National Cyber Director in the White House; and Seeyew Mo, Assistant National Cyber Director for Cyber...
On a recent trip to Southeastern Virginia, the Richmond Fed President Tom Barkin, along with Regional Executive Renee Haltom and Community Development Manager Jarrod Elwell, delved into the complexities of the region's economic landscape, particularly in the area known as Peanut Country.The team's visit unveiled contrasting narratives within Peanut Country, showcasing the delicate balance between preserving rural traditions and embracing urban developments. In Greensville County and Emporia, the team discovered a community striving to reverse historic disinvestment and...
Yale College has announced a new partnership with the nonprofit organization Leadership Enterprise for a Diverse America (LEDA) to host summer programs for talented rising high school seniors from underserved communities. The collaboration will see the final week of LEDA’s Aspects of Leadership Summer Institute, a program focused on leadership training, academic writing, standardized test preparation, and college guidance, taking place at Yale University for the first time this summer.Yale College Dean Pericles Lewis expressed enthusiasm for the partnership, highlighting...
Stanford University has a rich history of female trailblazers who have made significant contributions in various fields. From astronauts to mathematicians, the legacy of these remarkable women continues to inspire generations. In the realm of space exploration, Stanford alumnae have left an indelible mark. Sally Ride, the first American woman in space, Mae Jemison, the first Black woman in space, and Ellen Ochoa, the first Hispanic woman in space, all have Stanford connections. Reflecting on her journey, Ochoa shared, "I had to speak up about what I thought I was capable...
Federal Reserve Bank of Boston President Susan M. Collins recently visited various locations in New Hampshire to share her economic outlook and engage with local leaders. During her visit to Dartmouth College, Collins discussed economic disparities and the importance of inclusivity in local economies. She emphasized the need for collaborative efforts across different sectors to provide opportunities for all individuals. Collins highlighted the significance of understanding diverse experiences and achieving an inclusive economy to address challenges effectively.Collins...
Jed Finn, Head of Morgan Stanley Wealth Management, emphasized the growing importance of alternative investments like private market shares, stating, “Alternative investments like private market shares are only growing in importance as investors seek deeper portfolio diversification.”Michael Gaviser, Head of Private Markets at Morgan Stanley Wealth Management, expressed the company's commitment to working with clients to create lasting value in the private markets, saying, “As a larger percentage of capital formation and economic growth is occurring in the private...
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken action against the Los Pochos Drug Trafficking Organization (DTO) based in Guatemala. The DTO, primarily engaged in cocaine trafficking from Guatemala through Mexico to the United States, has been a target of sanctions since 2019. According to Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson, the Los Pochos DTO has continued to facilitate the flow of illicit drugs using corrupt officials.The Los Pochos DTO, associated with Mexico's Sinaloa...
The Federal Reserve Bank of New York has recently published a case study shedding light on pension fund investments in affordable apartments. Titled “Alternative Investments in Community Development: A Case Study of Pension Fund Investments in Multifamily Affordable Housing,” the study examined the investment patterns of seven pension funds over a five and a half-year period, ending in June 2023. The findings indicate a preference for preserving existing affordable housing over constructing new developments.According to Jonathan Kivell, director of community investments...
Three emerging leaders have been selected as recipients of the 2024-25 Luce Scholars Program, with three Yale students among the 18 individuals chosen for this prestigious opportunity.Awa Cisse, Adriana Golden, and Anna Lenaker have been named as the recipients of the Luce Scholarships, offering them a 13-month fellowship that includes stipends, language training, and immersive professional placements in Asia tailored to their interests and career aspirations.Awa Cisse, currently pursuing a Bachelor of Science in molecular biology and a Bachelor of Arts in French...
Washington – Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), has announced significant changes to the Surety Bond Guarantee Program (SBG) that are set to benefit small businesses across the country. The SBA will now be increasing the statutory contract limits for the program, allowing for greater revenue opportunities and supporting job creation and economic growth.Effective March 18, the SBA will begin guaranteeing bid, performance, payment, and ancillary bonds up to $9 million for all projects and up to $14 million on federal...
Carlyle has appointed Jeff Currie as Chief Strategy Officer of Energy Pathways, effective immediately. Currie, a seasoned economist and former Global Head of Commodities Research at Goldman Sachs, brings his expertise to Carlyle's energy division. In his new role, Currie will analyze commodity market trends and evaluate new investment opportunities in energy markets and the commodity supply chain crucial to the energy transition.Carlyle's CEO, Harvey Schwartz, emphasized the importance of the global economy's decarbonization as a significant investment opportunity....
Experimental computer memories and processors built from magnetic materials have shown promise in using significantly less energy compared to traditional silicon-based devices. Researchers at MIT have made a significant breakthrough in this area by demonstrating precise control of a van der Waals magnet at room temperature.Deblina Sarkar, the AT&T Career Development Assistant Professor in the MIT Media Lab and Center for Neurobiological Engineering, explained, "The heterostructure device we have developed requires an order of magnitude lower electrical current to switch...
Pollsters and physicists are now turning to a new optimization technique that speeds up Bayesian inference without requiring additional work from scientists. This new method, called deterministic ADVI (DADVI), offers faster and more accurate results compared to traditional approaches."When you actually dig into what people are doing in the social sciences, physics, chemistry, or biology, they are often using a lot of the same tools under the hood. There are so many Bayesian analyses out there. If we can build a really great tool that makes these researchers lives easier,...
CUNY Chancellor Félix V. Matos Rodríguez expressed gratitude for the ratification of a new contract with over 10,000 employees at The City University of New York. The agreement, approved by the CUNY Board of Trustees, includes a retroactive wage increase of 14.9% over the contract's duration, a minimum wage raise to $18, and a $3,000 ratification bonus.In a statement, Chancellor Rodríguez highlighted the importance of the university's employees, stating, "We often hear that it takes a village. CUNY’s village includes the public safety officers who keep us safe, the nurses...
The Federal Reserve Bank of Philadelphia has appointed new members to its Economic and Community Advisory Council (ECAC). Among the appointees are Laura Ducceschi, Ken Kaiser, Jesse McCree, and Leslie Smallwood-Lewis, who bring a wealth of experience and expertise to the council.Dennis Pullin, president and CEO of Virtua Health, has been named chair of the ECAC, while Loree Jones Brown, chief executive officer of Philabundance, has been named vice chair.The ECAC, established in 2008, is comprised of leaders from various sectors including businesses, nonprofit...
WASHINGTON– The U.S. Small Business Administration (SBA) announced significant milestones in expanding access to private equity and debt capital for American small businesses and startups through the Small Business Investment Company (SBIC) Program. This announcement was made by Administrator Isabel Casillas Guzman during a White House convening with National Economic Council Director Lael Brainard.The event, attended by over 60 leaders from private investment firms and industry associations, highlighted the progress made in regulatory reforms to the SBIC Program. Among...
