August

2022 - 8 - 31

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Better Markets Month in Review Newsletter August 2022 | Better ... (Better Markets)

View the newsletter online here. August is typically a sleepy time in Washington, but the past month has been incredibly busy for our team at Better Markets ...

The Senate Agriculture Committee overseas the operations of the CFTC, so this legislation would put the Committee squarely in the driver’s seat for Congressional efforts to regulate crypto currencies. Senators Stabenow (D-MI), and Boozman (R-AR), who serve as the Chairwoman and Ranking Member of the Senate Agriculture Committee, respectively, introduced the Digital Commodities Consumer Protection Act of 2022, which would put the Commodity Futures Trading Commission in charge of regulating most digital commodities. [fought for low and moderate income communities](https://bettermarkets.org/newsroom/the-travesty-of-zero-progress-in-homeownership-rates-in-45-years-proves-the-community-reinvestment-act-cra-has-failed-and-must-be-strengthened/) in reforming the Community Reinvestment Act, [urged the federal banking agencies](https://bettermarkets.org/newsroom/the-federal-reserve-and-occ-should-follow-the-jamie-dimon-rule-and-stop-rubber-stamping-too-big-to-fail-bank-mergers-without-resolution-plans/) to stop mindlessly allowing mergers that create more too-big-to-fail megabanks, [applauded the conviction](https://bettermarkets.org/newsroom/the-criminal-conviction-of-two-jpmorgan-chase-officers-could-be-a-gamechanger-signaling-the-beginning-of-the-end-to-the-wall-street-crime-spree/) of JPMorgan officers for committing financial crimes, and released our [second report](https://bettermarkets.org/newsroom/money-market-funds-a-bank-like-product-without-bank-like-regulations-or-protections-needlessly-creates-systemic-risks/) in our shadow banking series on Money Market Funds. Better Markets filed a comment letter in response to the Securities and Exchange Commission’s request for comment about “information providers,” whose activities may warrant regulation as investment advisers. Dennis Kelleher has previously described the CFTC as “the smallest financial regulator with the smallest budget.” If people are serious about the CFTC properly regulating crypto, they should start by doubling the CFTC’s current budget so that it has adequate funding to do its job now. Then add the amount of funding necessary on top of that so that it would be able to do the significantly increased work related to crypto. [law review article](https://digitalcommons.law.wne.edu/cgi/viewcontent.cgi?article=1858&context=lawreview) in the Western New England Law Review where we argued that Wall Street and finance more generally can and should be democratized. “Robinhood is unique in some ways for having the perfect combination of a successful predatory business model at a time when retail investors’ appetite for participating in the markets was at an all-time high. You may love or hate the SEC, but transparent disclosure, clear rules…and enforcement is what builds trust and confidence in our markets.” [Asset managers bet big on crypto despite market rout](https://www.ft.com/content/3261f919-ca98-41d2-b950-bc3a670f994c)“Just because top-tier companies want to make money from something new, that doesn’t make it a good thing to do. “Private funds have become increasingly important in the Treasury markets. In addition to these action items, we are also thinking more broadly about creating a financial system that works for all Americans.

Natural Hazards Monitoring - 30 August 2022 - Haiti (ReliefWeb)

News and Press Release in English on Haiti about Health, Water Sanitation Hygiene, Flood and Land Slide; published on 30 Aug 2022 by PAHO.

The report is available at: About 80% of the canals and pipes of the District overflowed, affecting approximately 110,000 people in 20 sectors of the city. So far, a total of 225 homes and 655 people were affected in the municipality of Jojutla. About 200 houses were affected in the municipality of Zacatepec. In Croix-des-Bouquets, in particular in Corail Celesse, after the rains on 16 August, civil protection officers reported 3 deaths, 350 houses flooded and another 35 were destroyed. On 29 August 2022, the Civil Defense of Haiti, provided information about heavy rains that occurred during the second half of August in several Departments, and which caused extensive material damage and loss of life.

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Results from North Wilkesboro Racetrack Revival - August 30 (Racing America)

Here are unofficial results from August 30 at North Wilkesboro Speedway's Racetrack Revival, featuring qualifying for the CARS Late Model Stock Tour as well ...

12. 11. 10. 9. 8. 7. 6. 5. 4. 3. 2. 1.

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UNICEF Philippines Humanitarian Situation Report No. 8 (Typhoon ... (ReliefWeb)

Situation Report in English on Philippines about Contributions, Coordination, Epidemic, Flood and more; published on 31 Aug 2022 by UNICEF.

Eight months after Super Typhoon Rai (Odette) made landfall, UNICEF and its partners remain committed to addressing residual humanitarian needs. With this, UNICEF's response to Typhoon Rai and COVID-19 has supported the access of 134,917 children and women to primary healthcare; 219,417 individuals benefited from emergency water, sanitation, and hygiene infrastructure, supplies, and services; 147,488 children were screened for wasting; 30,561 people safely tapped into sexual exploitation and abuse reporting channels; 22,704 children and caregivers accessed mental health and psychosocial support services; 97,174 children benefitted from learning continuity; 3,853 households received humanitarian cash transfers; and 5.5 million people were reached with prevention and service access messaging. The continuing response has been enabled by mobilized funds amounting to US$16 million to address the impacts of the typhoon and the continuing COVID-19 pandemic, and to strengthen disaster preparedness.

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August aid news - Devpolicy Blog from the Development Policy Centre (devpolicy.org)

Our monthly update of news and analysis on aid and international development, with a focus on Australian aid.

[Australia has said](https://www.health.gov.au/ministers/the-hon-mark-butler-mp/media/australia-committed-to-supporting-future-pandemic-preparedness-and-response) that it will provide funding but has yet to nominate how much it will contribute. Pakistan, which is also in the midst of an economic crisis, has [called on the international community](https://www.reuters.com/world/asia-pacific/pakistan-appeals-international-assistance-after-floods-2022-08-24/) to provide emergency assistance. Australia no longer counts the first year of refugee stay as aid, but [many other countries](https://www.oecd.org/dac/financing-sustainable-development/development-finance-standards/refugee-costs-oda.htm) do. Bangladesh [also sought China’s assistance](https://www.abc.net.au/news/2022-08-07/bangladesh-seeks-china-help-to-repatriate-rohingya-refugees/101309542) in repatriating Rohingya refugees back to Myanmar, one the largest stateless populations in the world. Australia has [committed A$2 million](https://www.foreignminister.gov.au/minister/penny-wong/media-release/australian-humanitarian-assistance-response-pakistan-floods) to support the World Food Programme’s Pakistan flood response. Minister for International Development and the Pacific, [Pat Conroy, has declined to say](https://www.abc.net.au/radionational/programs/breakfast/minister-for-pacific-on-solomon-island-s-election-delay/101317752) whether Australia could offer additional support for national elections in Solomon Islands in order to prevent their postponement to 2024. [Asia-Pacific Ministerial Conference on Disaster Risk Reduction](https://apmcdrr.undrr.org/about-1-welcome) from 19 to 22 September, in Brisbane. [terms of reference for its Development Finance Review](https://www.dfat.gov.au/development/development-finance-review#:~:text=At%20the%20request%20of%20Government,and%20deliver%20on%20climate%20change.). [The Global Fund has confirmed](https://devpolicy.org/australia-and-the-global-fund-a-critical-moment-20220824/) the facility is seeking A$450 million from Australia for its next triennial replenishment, which will be hosted by President Joe Biden on 19 September. Donors have postponed the deadline for meeting the target to 2023. The three high-level objectives of the framework are “community resilience”, “resilient economic growth” and “democratic governance”. A further 19% in SDRs (about US$1.5 billion) will be used to bolster IMF resources for developing country support.

Haiti - Severe weather (ECHO Daily Flash of 31 August 2022) - Haiti (ReliefWeb)

News and Press Release in English on Haiti about Disaster Management; published on 31 Aug 2022 by ECHO.

In the commune of Arcahaie and in the City of Cabaret (Ouest Department), 17 houses have been destroyed and 125 others flooded. According to the Pan American Health Organization (PAHO), at least three people died, 350 houses have been flooded and 35 were destroyed in the Croix-des-Bouquets area (Ouest Department). Under the coordination of the Haitian Civil Protection (DGPC), several partners are present on the ground to ensure the management of emergencies caused by these floods, which could worsen in the event of new rains.

ADP: Employers Added 132000 Jobs in August (U.S. News & World Report)

The new report suggests that companies may be slowing their hiring as the economy cools off.

On Tuesday, the Labor Department reported that 11.2 million jobs were open at the end of July, an increase from 10.9 million in June and a sign that the job market remains very tight. "The labor market has so far withstood aggressive rate hikes and growing economic headwinds,” said John Leer, chief economist at Morning Consult. “Different sectors of this economy are still in growth mode and need workers.” After July came in hotter than expected, with 528,000 jobs added, economists are forecasting a pullback to around 300,000 jobs in August. Wages, meanwhile, grew at an annual rate of 7.6% for the month. "We could be at an inflection point, from super-charged job gains to something more normal."

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Image courtesy of "Mashable"

Wordle today: Here's the August 31 Wordle answer and hints (Mashable)

Stuck on 'Wordle' #438 on August 31? Click for hints, tips, subtle clues, and today's Wordle answer. Wordle spoilers within.

But unless you activate this mode, we can assure you that [Wordle ](https://web.archive.org/web/20220609104016/https://mashable.com/article/wordle-harder-new-york-times)isn't getting harder. [fans have even created alternatives to Wordle](https://mashable.com/article/best-wordle-clones-alternatives) inspired by the original format. If you're struggling to remember what letters even are, or just a bit stumped, Mashable's [daily Wordle hints and tips](https://mashable.com/category/wordle) might be the help you need. However, occasionally the puzzle game will accept two different correct solutions on the same day. Such tips include choosing a word with at least two different vowels to rule those building blocks in or out, plus a few common consonants such as S, T, R, or N. The answer to the August 31 Wordle, puzzle #438, can be found at the end of this article. This aberration is due to [there is a Hard Mode you can enable](https://web.archive.org/web/20220609104016/https://mashable.com/article/wordle-hard-mode) to give yourself more of a challenge. [We have some ideas](https://web.archive.org/web/20220609104016/https://mashable.com/article/best-wordle-starting-word) to help you pick the perfect first move. [the entire archive of past puzzles](https://mashable.com/article/wordle-archive), the archive was taken down at the request of the New York Times, according to the site's creator. [You'll find the Wordle answer for August 29 here.](https://mashable.com/article/wordle-today-answer-august-29) This includes music identification game [Heardle](https://mashable.com/article/wordle-heardle-song-music-guessing-game), Hollywood nerd faves [Actorle](https://mashable.com/article/framed-actorle-movie-wordle) and Framed, and variations like [Dordle](https://mashable.com/article/dordle-double-wordle-game) and [Quordle](https://mashable.com/article/quordle-four-dordle-wordle-game) that make you [guess multiple words at once](https://mashable.com/article/wordle-variant-dordle-31-untrigintordle).

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Private payrolls grew by just 132000 in August, ADP says in ... (CNBC)

Private payrolls grew by just 132000 for the month, a deceleration from the 270000 gain in July, the firm said in its monthly payroll report.

August's numbers add to the inflation worries, as the firm reported annual pay up 7.6% for the month. An earlier version misstated the year. While much of the changes are technical in nature, ADP's count differs in how it accounts for issues such as weather and natural disasters. Richardson told media members that the revised approach "captures a new evolution in how we are viewing data at ADP. The more closely watched nonfarm payrolls report from the Bureau of Labor Statistics comes out Friday and is expected to show an increase of 318,000. economy which saw negative growth for the first half of 2022 amid the highest inflation the nation has seen since the early 1980s.

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U.S. private payrolls growth slows in August-ADP (Reuters)

U.S. private payrolls increased moderately in August, according to the ADP National Employment report, which likely exaggerates the slowdown in the labor ...

According to a Reuters survey of economists, private payrolls likely increased by 300,000 jobs in August after rising by 471,000 in July. The economy created 528,000 jobs in July. In the BLS survey a person is counted as employed if they received pay during the week that includes the 12th day of the month. The subsequent recovery in the ADP figures has been correspondingly weaker." Economists were skeptical that the new ADP report would be a reliable labor market indicator. Historical data for the past 12 years has been benchmarked.

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Today's Wordle Answer (#438) - August 31, 2022 (GameSpot)

It's time for another Wordle guide to try and break up that mid-week slump that I'm sure many of us are up against right now. This puzzle, #438, is also the ...

If those hints weren't enough to tip the scales in your direction, don't worry, as we have the full answer to the August 31 Wordle right here. Finally, if those hints don't end up working out, we will also spell out the full answer further down in the guide. This puzzle, #438, is also the last one for the month of August, so that's just another reason for players to get it right.

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Wordle today: Answer, clues for Wednesday, August 31 2022 word ... (For The Win)

WARNING: THERE ARE WORDLE SPOILERS AHEAD! DO NOT READ FURTHER IF YOU DON'T WANT THE AUGUST 31, 2022 WORDLE ANSWER SPOILED FOR YOU.

If you’re here, you’re probably [struggling with it](https://ftw.usatoday.com/lists/wordle-best-first-words-list) and looking for some help. [hardest Wordle words go](https://ftw.usatoday.com/lists/wordle-hardest-words-nyt-buys), Wednesday’s answer was challenging. [That’s a topic](https://ftw.usatoday.com/lists/wordle-strategy-first-word-best-adieu) we’ve [covered a bunch here.](https://ftw.usatoday.com/lists/wordle-best-first-words-list) According to the Times’ WordleBot, [the best starting word is:](https://ftw.usatoday.com/lists/wordle-best-starting-word-ny-times-wordlebot) CRANE. [this link from the New York Times](https://www.nytimes.com/games/wordle/index.html) and start guessing words. How to play Wordle And the answer to Wednesday’s Wordle is below this photo:

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Image courtesy of "CNN"

Private sector job growth slows to just 132000 positions added in ... (CNN)

The private sector added 132000 jobs in August, an indication that the white-hot pace of hiring could be slowing after months of strong job growth.

While statisticians have formulas to mitigate the effects of seasonality on sector-specific fluctuations — such as retailers shedding jobs in January after the post-holiday shopping season — the distortions created by the pandemic posed an unprecedented challenge. ADP also said annual pay rose by 7.6% — the first time its report has tracked pay, which it said will encompass gross earnings inclusive of tips, commissions and bonuses. ADP handles payroll transactions for more than 25 million workers.

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Today's Wordle 438 answer and hint: Wednesday, August 31 (PC Gamer)

Looking for today's Wordle answer? The August 31 #438 puzzle has arrived so here's a hint to help you out, as well as the full answer if you need it.

The word puzzle game has since inspired tons of [games like Wordle](https://www.pcgamer.com/best-games-like-wordle/) (opens in new tab), refocusing the daily gimmick around music or math or geography. 🟩 means you've got the right letter in the right spot. Past Wordle answers can also give you some excellent ideas for fun starting words that keep your daily puzzle solving fresh. Are you ready to win? From local raffles to international challenges, competition winners usually receive today's word for their efforts in the form of cash, trophies, medals, or any other desirable item. Has the hot weather fired up your imagination or fried your puzzle-solving mind?

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US companies added 132000 jobs in August, new ADP data show ... (Livemint)

Businesses' payrolls rose 132000 this month after a nearly 270000 gain in July, according to newly compiled data from ADP Research Institute in ...

Hiring Among U.S. Employers Slowed in August -- ADP (MarketWatch)

By Xavier Fontdegloria U.S. private sector employers added jobs in August, albeit less than in the previous month, in a sign the labor market cooled amid...

Employment in the manufacturing sector remained unchanged, according to the data. Department of Labor is expected to release its August employment report on Friday. By sector, services providers added 110,000 jobs, and 96,000 of them were created in the leisure and hospitality industry. Before the change in methodology, the ADP series could diverge considerably from the Labor Department's data. Annual pay was up 7.6% in August, in line with monthly readings since spring 2022, ADP said. workers and is independent from the Labor Department official data.

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US companies added just 132000 jobs in August as hiring slows: ADP (Fox Business)

The ADP National Employment Report published on Wednesday showed that private employers hired just 132000 workers in August amid growing fears of a ...

The data precedes the release of the more closely watched August jobs report on Friday morning, which is expected to show that employers hired 300,000 workers following a gain of 528,000 in July. Officials approved two consecutive 75 basis point rate hikes in June and July and have signaled that another of that magnitude is on the table in September. The changes are largely technical, as ADP previously faced criticism for struggling to accurately predict the employment count in the Labor Department's more closely watched job report. Companies added just 132,000 jobs last month, sharply missing the 288,000 gain that economists surveyed by Refinitiv had predicted. Education and health services employment declined by 15,000, while the financial activities sector shed 20,000 jobs. "We could be at an inflection point, from super-charged job gains to something more normal."

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BSH Radio #369: A very late-August hockey podcast (Broad Street Hockey)

We're getting close to training camp, which means it is the perfect time to speculate about which Flyers will win the team awards this year.

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August 30, 2022 (Voice of America)

1 Sri Lankan police officers detain a demonstrator during a government protest by members of the Inter-University Student's Federation, amid the country's ...

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Image courtesy of "MarketWatch"

Job growth slows for second straight month in August, revamped ... (MarketWatch)

U.S. private employers created 132000 jobs in August, down from 270000 jobs in the prior month, new data from ADP showed Wednesday.

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Image courtesy of "Business Insider"

Hiring trends: 132000 private payrolls added in August, missing ... (Business Insider)

Hiring landed below forecasts in August, signaling the labor market is slowing alongside rising interest rates and signs of weaker spending.

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US Stocks End a Turbulent Month on a Down Note: Markets Wrap (Bloomberg)

US stocks and bonds ended a turbulent August lower as traders recalibrated rate-hike expectations after central banks across the globe vowed to step up ...

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Wall Street ends August with a whimper on Fed worry (Reuters)

Snap jumps as it restructures ad business, lays off staff · Bed Bath & Beyond sinks on corporate overhaul · Biggest August pct drop for Dow, S&P 500, Nasdaq since ...

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Stock futures fall after Wall Street closed out August with losses (CNBC)

Dow Jones Industrial Average futures fell by 42 points, or 0.13%. S&P 500 and Nasdaq 100 futures declined 0.27% and 0.48%, respectively. Those moves follow four ...

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Private sector added 132K jobs in August as pay rose 7.6% (Accounting Today)

Overall the employment figures represented a step back from July, when the economy created nearly 270,000 jobs, and payroll growth also slowed in July when ...

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US stocks register weakest August performance in seven years (Sky News)

By Wednesday's close, according to preliminary data, the Dow Jones industrial average had fallen just over 4%, the tech-rich Nasdaq was down 4.64%, ...

U.S. stocks threaten to extend losing streak to 4 days as August ... (Morningstar.com)

By Isabel Wang and William Watts. Bed Bath & Beyond shares plunge after strategic update. Early gains once again faded away for U.S. stocks, ...

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Yemen: Situation Update - Humanitarian Impact of Flooding | As of ... (ReliefWeb)

Situation Report in English on Yemen about Education, Food and Nutrition, Flood and more; published on 31 Aug 2022 by OCHA.

Al Jawf Governorate also continued to experience heavy rains and flooding, leading to the destruction of roads, houses, and displacement sites, as well as causing damage to farms, water projects, and solar panel systems. In Al Hodeidah, Hajjah, Rayhma, and Mahwit governorates, heavy rains and flooding persisted, causing injuries and damage to houses and other infrastructure such as roads, thus limiting access to affected areas. Heavy rains and flooding continued across Yemen into the third week of August.

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Wall Street ends August with a whimper on Fed worry (INQUIRER.net)

Cleveland Federal Reserve Bank President Loretta Mester said on Wednesday the central bank will need to boost interest rates somewhat above 4% by early next ...

Another strong report is likely to further cement expectations the Fed will continue with outsized rate hikes after three straight increases of 75 basis points. Data earlier in the day showed ADP private payrolls increased by 132,000 jobs in August, falling short of economists’ forecast of job growth of 288,000, according to a Reuters poll. For the month, the Dow fell 4.06 percent, the S&P 500 lost 4.24 percent and the Nasdaq declined 4.64 percent. The three main indexes suffered their biggest monthly percentage declines in August since 2015. The jobs data from the Labor Department is due on Friday and is expected to show nonfarm payrolls rose by 300,000 last month after recording a 528,000 increase in July. Snap Inc rose 8.69 percent after saying it will cut 20 percent of staff, restructure its advertising sales unit and shut down some projects to focus on improving sales and number of Snapchat users. “September is usually the worst month of the year; it and February are the only ones to post average declines, but September is the only month of the year to fall more than it rises so it could end up being sort of a self-fulfilling prophecy,” said Sam Stovall, chief investment strategist at CFRA in New York. However, the report was suspended for June and July as the methodology was overhauled following a poor track record of being in sync with the government’s payrolls report. The Dow Jones Industrial Average fell 280.44 points, or 0.88 percent, to 31,510.43; the S&P 500 lost 31.16 points, or 0.78 percent, to 3,955; and the Nasdaq Composite dropped 66.93 points, or 0.56 percent, to 11,816.20. “All (Powell) cares about is getting inflation down and raising rates to do that, and in terms of how aggressive to be that is all to be determined from the data,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York, New York. Cleveland Federal Reserve Bank President Loretta Mester said on Wednesday the central bank will need to boost interest rates somewhat above 4% by early next year and hold them there in order to bring inflation back down to the Fed’s goal, and that the risks of recession over the next year or two have moved up. Adding to pressure were declines in the technology sector, and more specifically chipmakers, after soft forecasts from Seagate and HP Inc.

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