WORD ON THE STREET 

• Powell To Speak To Congress – Fedwatchers, to the televisions. Federal Reserve Chairman Jerome Powell will begin testimony to Congress beginning today. The Fed recently paused interest rate increases, but gave no clear sign about whether another rate hike is forthcoming. A rate decrease has been all but ruled out.

• President’s Son Pleas Out To Misdemeanors – It wasn’t exactly the political earthquake some Republicans were hoping for. Hunter Biden has reached an agreement with the U.S. attorney for Delaware to plea out to two federal misdemeanor counts of failing to pay taxes. He is also facing a (felony) gun charge, but has reached an agreement for it to be dismissed if it meets certain conditions. He will reportedly serve no jail time.

• Corporate America Gears Up For Modi Meeting – Some of America’s most important business leaders will be attending a White House state dinner this week, including the CEOs of Apple, Google, Microsoft and Fedex. The guest of honor – Indian Prime Minister Narendra Modi. It will be the first state dinner for India at the White House in its history.

• China’s Economy Stumbling – Markets worldwide declined yesterday, and the subpar economy in China is to blame. China announced only a small interest rate reduction, disappointing observers who were hoping for more stimulus from Beijing.

HOT SPOTS: What’s Going on in Geopolitics

• Pentagon: Oh My, Who Left These Billions Of Dollars Lying Around? – Good news for Kyiv. The Powers That Be took another look at the accounting error that freed up an extra $3 billion in aid for Ukraine, and wouldn’t you know it, it was wrong again. It is actually $6.2 billion (they say). This paves the way for more military aid as Ukraine wages a counteroffensive. But about that…

• Ukraine Pauses Counteroffensive – The pro-Ukraine Institute for the Study of War says Kyiv may be pausing its counteroffensive as it takes a fresh look at tactics. While Ukraine has liberated a few villages, it has not punched through any major prepared Russian defenses. However, the ISW notes that Ukraine “does not appear to have launched its main effort.

• Ukraine Reconstruction Bill Set At More Than $411 Billion – That will take more than a Pentagon accounting error. The Ukraine Recovery Conference is raising the total bill for the reconstruction effort of Ukraine, as the cost is increasing because of continuing fighting. Prime Minister Rishi Sunak is reportedly preparing to announced $3 billion in guarantees from the World Bank. Only more than $408 billion to go!

Bank collapses, corporate bankruptcies and more.

Silicon Valley is being gutted and completely reshaped.

Learn how one trigger could be the key to witnessing hundreds of triple digit wins in the aftermath of The Tech Reckoning

CUTTING EDGE: What‘s Happening In Tech

• Military On Patrol For Mean Tweets – The U.S. Army Protective Services Battalion is searching the Internet for mean tweets against America’s top military leaders, whom its duty is to protect. The unit not only protects top generals from physical threats, but also from “embarrassment,” and a procurement document cites efforts to search social media, including Twitter, Reddit, and even 4chan.

• Another Company Joins Tesla’s Charging Standard – Rivian is adopting Tesla’s EV charging standard. Elon Musk’s company is now a dominant force in the market, already boasting the largest network in the USA and recently striking deals with General Motors, Ford, and even the state of Texas.

• Gates, Bezos, Ma Help Launching AI Mining Company – KoBold Metals is the newest AI unicorn, reaching $1 billion in market cap after a $200 million fundraising round. Breakthrough Energy Ventures, a venture capital firm backed by Bill Gates which invests on behalf of moguls including Jeff Bezos and Jack Ma, was among those who assisted.

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