'No reason' to raise interest rates after jobs report, Trump says

President Donald Trump has said there is "no reason" to raise interest rates during an interview with NBC News' "Meet the Press" that aired on June 7.

Trump pushed back when asked about economists' warnings that the Federal Reserve may have to raise rates following the most recent us jobs report. Financial markets tanked following the release of the report, which was stronger than expected. Employers added 172,000 jobs in May, and previous months were revised upward, according to the Labor Department.

Trump argued that "Success can kill inflation just like higher interest rates."

Reference Sources

1. usatoday - 'No reason' to raise interest rates after jobs report, Trump says

S. Korean President Lee Nominates SME Minister Han Seong-sook As New Prime Minister

South Korean President Lee Jae Myung has nominated Han Seong-Sook, the incumbent Minister of Small and Medium-sized Enterprises (SMEs), as his next Prime Minister.

If confirmed by the National Assembly, Han would become the Lee government's first female Prime Minister and South Korea's second female Prime Minister since Han Myeong-Sook, who served in the post from 2006-2007.

Han, a former chief executive of Online portal giant Naver, spent most of her career in the Internet industry.

The role of Prime Minister is largely ceremonial and administrative under South Korea's Presidential system.

The nomination comes after Lee's party dominated local elections on Wednesday, although the Democratic Party lost the high-profile Seoul Mayoral race to the opposition.

The elections also sparked controversy over ballot shortages that affected 50 polling stations nationwide, prompting the head of the state election watchdog to resign.

Lee has "judged nominee Han to be the right person to take responsibility for growth and people's livelihoods at a time when the country faces a major strategic transition driven by AI innovation and complex global crises," said Lee's chief of staff Kang Hoon-Sik.

Reference Sources

1. bernama - S. Korean President Lee Nominates SME Minister Han Seong-sook As New Prime Minister
2. nikkei - South Korea nominates Han Seongsook as first female PM in 2 decades
3. bloomberg - SKorea’s Lee Nominates Tech Guru Han as PM to Lead AI Growth
4. thestarmy - SME Minister Han Seong-sook nominated as South Korea's first female prime minister in two decades
5. philstar - South Korean president nominates would-be second woman PM

Bring Your Own Power, Ireland Tells Tech Titans Hungry for Data Centers

Ireland's big Tech sector uses a fifth of the country's electricity, more than all of the country's urban homes put together. For much of the past three years, the country barred new data centers to ensure its electricity grid could cope.

Now, Ireland is trying a new approach: B. Y. O. P., or bring your own power.

New data centers and expansions of existing facilities are welcome, but must have their own power plants on site or contracts for new, largely renewable sources of energy to be produced nearby.

They can't just grab juice from the grid.

Reference Sources

1. wsj - Bring Your Own Power, Ireland Tells Tech Titans Hungry for Data Centers

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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