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...
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...
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....
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...
The U.S. Small Business Administration (SBA) recently embarked on its America’s Seed Fund Road Tour, a national outreach effort aimed at connecting entrepreneurs working on advanced and innovative technology with funding opportunities. The Road Tour, which visited Orlando, Florida, on February 7 and Puerto Rico on February 9, seeks to engage startups and small businesses and help them access the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs."America relies on ingenuity to develop critical technologies and create the...
The National Credit Union Administration (NCUA) has announced that its four funds have received unmodified, or "clean," audit opinions for the year 2023. This information was revealed in the audited financial statements released by the agency's Office of Inspector General.The financial statements were audited by the independent auditor KPMG LLP and cover the National Credit Union Share Insurance Fund, the agency's Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. These funds play a crucial role in protecting the deposits...
The Federal Reserve Bank of Richmond has recently announced new officer appointments to key positions within the organization. These appointments highlight the bank's commitment to fulfilling its mission of fostering economic stability and strength.One of the notable appointments is that of Christin Patel as senior vice president with responsibility for the National Procurement Office. In this role, Patel will oversee the management of procurement activities for the Federal Reserve System. Patel has been with the Richmond Fed since 2008, starting as a strategic management...
Nearly every Fortune 500 company now uses AI screening tools in hiring and 40 percent of all companies are expected to use AI interviews in choosing candidates this year. While employers have turned to these tools as a way to enhance efficiency in filling openings, some have raised concerns that using algorithms in hiring can introduce bias into the search and hiring process.Hilke Schellmann, a professor in NYU’s Arthur L. Carter Journalism Institute and the author of "The Algorithm: How AI Decides Who Gets Hired, Monitored, Promoted, and Fired, And Why We Need To Fight...
Kailani Acosta, a PhD student in Earth and Environmental Sciences at Columbia University, has traveled the world to study nutrient cycles in the ocean. Her research explores the interconnectivity of geology, race, agriculture, and marine biology. Acosta's work will be showcased in an exhibition she curated, which will open for one night only at Persona Studio in Brooklyn.Acosta's journey in research began after graduating from Brown University, where she worked in environmental consulting in New York City. She discovered her passion for conducting research, being out in...
According to a recent report by economists Pinghui Wu and Lucy McMillan from the Federal Reserve Bank of Boston, working college students who experience job loss are more likely to drop out of school. The study, titled "Credit Access and the College-persistence Decision of Working Students: Policy Implications for New England," reveals that when a working undergraduate aged 18 to 24 faces involuntary job loss, their chances of not returning to school the following academic year increase by 17%.Although only 2% of the students in the study sample were affected by job loss,...
Pine Gate Renewables, LLC, a developer and owner-operator of utility-scale solar and energy storage projects in the United States, has announced the closing of a $150 million credit facility with global investment firm Carlyle (NASDAQ: CG). The credit facility was finalized in the fourth quarter of 2023 and will be used to accelerate construction activities for Pine Gate's growing development pipeline and support a subset of its 2.2 GW operating portfolio.This partnership with Carlyle will provide Pine Gate with access to additional capital and diversify its financing...
