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  • Updated: As Kratom Use Surges, Some States Enact Bans; FDA Warns Companies for Promoting Alternatives to Street Drugs

    Stateline Dec 4

    Robert Roskind is the owner of the Oasis cafe in Carrboro, North Carolina, where a typical serving of kratom is a heaping teaspoon of powder in a mug of hot water, orange juice or chocolate almond milk. As consumption of the opioid-like botanic grows, some cities and states are banning its use.

    Christine Vestal, Stateline, The Pew Charitable Trusts

    On a sunny November afternoon in this quiet college community, a steady stream of customers walks through the doors of a local cafe called Oasis for a cup of an increasingly popular herbal beverage. The menu offers coffee, black tea, beer, wine and pastries, but nearly everyone opts for a $5 mug of kratom (pronounced KRAY-dum).

    A powder ground from the leaves of an indigenous Southeast Asian tree related to the coffee plant, kratom (Mitragyna speciosa) offers pain relief and mood enhancement, similar to prescription painkillers.

    Advocates say the substance, which does not depress the respiratory system and therefore presents little to no overdose risk, could help reduce the nation’s reliance on highly addictive and often deadly prescription painkillers. Some addiction experts also argue the plant could be used as an alternative to methadone, buprenorphine and Vivitrol in medication-assisted therapy for opioid addiction.

    Used for centuries to fight fatigue, pain and anxiety in Indonesia, Malaysia, Myanmar, Papua New Guinea and Thailand, kratom was rarely taken in the United States until recently.

    Now, with growing concerns about the dangers of prescription painkillers, an estimated 3 million to 5 million people are using kratom and reporting positive results, based on information from retailers. But worries that the unregulated plant product could be abused for its mild euphoric qualities and users could become addicted are spurring federal officials to issue public health warnings — and a handful of states and cities to impose bans.

    Alabama, Arkansas, Indiana, Tennessee, Vermont, Wisconsin and the District of Columbia have banned kratom, along with at least three cities — Denver, San Diego and Sarasota, Florida. Legislation was considered last year in at least six other states — Florida, Kentucky, New Hampshire, New Jersey, New York and North Carolina.

    Animal studies have shown that kratom use may lead to addiction. But user surveys indicate that although the herb can be habit-forming, withdrawal symptoms are no worse than those encountered when quitting coffee, sugar or certain herbal supplements. Withdrawal symptoms, which typically last three to four days, include muscle aches, cravings, a runny nose, restlessness and mood swings.

    The Drug Enforcement Administration last year said it intended to classify the herbal supplement as an illegal Schedule 1 drug, along with heroin, LSD and marijuana. But after public demonstrations, letters from Congress and a petition with more than 142,000 signatures, the agency put the proposal on hold.

    Stateline Dec 4

    Advocates in September 2016 held a march in Washington, DC, to protest a proposal to classify kratom as having a high potential for abuse. The Drug Enforcement Administration later withdrew its proposal; Courtesy of the American Kratom Association

    Last month, Food and Drug Administration chief Scott Gottlieb issued a public health warning, citing 36 deaths in which kratom was present, but not necessarily the cause. About 50,000 Americans die of drug overdoses each year. In addition, the FDA, which has been seizing imports of kratom at US ports since 2013, stepped up import enforcement.

    The agency also cited a 10-fold increase in kratom-related calls to poison centers between 2010 and 2015 — from 26 calls to 263, out of roughly 2.2 million calls a year. And Gottlieb warned about the unknown risks of using kratom to treat opioid addiction, saying he fears some kratom may have been laced with opioids, and that the FDA needs to conduct more study on the plant’s potential benefits.

    In response, the American Kratom Association, a Colorado-based advocacy and lobbying organization, issued its own analysis of FDA data on adverse drug events, calling the kratom numbers “incredibly insignificant in the broader context” of drug-related deaths and adverse reactions.

  • A Magical of Christmas; a Season of Hope

    by Roberta McReynolds

    Each holiday season dating back to 1998 my husband and I have had the privilege of portraying Santa and Mrs. Claus at several special locations. He’s the one with the white, fluffy beard, by the way (I keep my whiskers plucked). It can be quite exhausting, requires patience (at times more with the adults than their children), but is hugely rewarding.

    One particular event is scheduled for the three days following Thanksgiving. This year marked the fourth year we have been booked at a local nursery. The place is all decked out with fabulous decorations, ornaments, and plants for sale. Visitors are treated with free coffee, apple cider, and kettle corn. There is a large model train display for everyone to enjoy, with themed villages in different sections and levels. A fellow volunteer loans his track, trains, and time (along with small pieces of candy for the children). The employees spend several hours a day over the course of three weeks setting up the scenery, including all the electrical connections, to transform it into winter wonderland splendor. It’s always a big hit with the children.

    While everyone else is either still recovering from a huge Thanksgiving feast or out shopping for the best Black Friday deals for Christmas gifts, Santa is poised in an antique sleigh surrounded by a forest of artificial trees all sparkling with tiny lights. He has his sack filled with candy canes for every guest. Mrs. Claus stands alongside the sleigh, ready to help visitors scramble up the steps and steady them when they climb back down.

    The beauty of this particular event is that there is no charge for photographs. People use their own cameras or phones to capture photographic memories. We are busy most of the time, but there is rarely anyone waiting in line. A number of our visitors have special needs, and we have always been able to adjust to whatever any given situation requires. Santa has climbed down so we can kneel next to a wheelchair, given an autistic child the quietness and calm they need, and welcomed those with mental limitations with patience and understanding. We held a baby that was just two weeks old this year and had a woman who proclaimed she was 91 and had never had her picture taken with Santa before. Some visitors bring in their dogs for a picture and Mrs. Claus makes sure Santa has a supply of dog biscuits for our furry friends. 

    We sometimes need to get creative with children who are reluctant to make that trip to see Santa, despite the desperate urgings of their parents or grandparents. Some parents are perfectly content getting a picture of their child crying on Santa’s lap and almost consider it a ‘rite of passage’ to include that in their album. Others desire that sweet, contented smile and we try to accomplish that for them. I may suggest that a parent get in the sleigh next to Santa and hold the child while I take the picture, or if one of the employees is free they will take the picture so I can be in the photo, too. When that doesn’t work, we’ve had families pose in front of the sleigh so the child isn’t even aware of us in the background. Sometimes it just takes giving the child a little more time to warm up to the idea; I advise parents to spend more time watching the train and looking at ornaments, allowing the child time to watch us (and other children) from a distance until they feel ready. It was an encounter with such a child who ended up providing Mrs. Claus with a truly magical experience.

    She was a darling, but an extremely shy little girl who, I later learned was five years old. The girl’s father had obviously brought her to see Santa and get her picture taken, but she was too overwhelmed. Her father wisely walked her over to the train layout to distract her for a while. I was able to observe them from a distance, frequently making eye-contact with her father. 

    Eventually, the little girl tired of the trains, so her father began walking her around to look at all the decorations and ornaments. Noticing whenever they passed by I could see her peering around displays and eyeing Santa. When I would smile and offer a friendly little wave, she would predictably duck behind her father’s leg. Her father once got near enough to whisper, “We’re getting closer all the time!” I encouraged him to take all the time he needed; we’d be there whenever she felt willing.

    It must have taken the better part of an hour before she felt brave enough to come over, but she was still feeling unsure about the situation. When her father introduced me to Elyse, I knelt down (pardon my slip-up … Mrs. Claus knelt down) and asked the curly-headed girl if she knew the Jingle Bells song. She didn’t think so, so I softly began singing, “Jingle bells, jingle bells, jingle all the way….” I saw Elyse was mouthing the words along with me, and I thought I could almost detect a murmur of a tiny voice.

    “Oh what FUN,” I continued, putting lots of emphasis on the ‘fun’ part, “it is to ride in a one-horse, open sleigh!” and with that, I pointed to Santa’s sleigh. Maybe it’s not exactly Child Psychology 101, but I remember being the curly-headed little girl who was terrified of Santa and I was on a mission. Bottom line – it worked. Elyse was ready, but even after climbing up into the sleigh she was too shy to speak. Santa assured her that she could always write a letter and have Dad mail it to the North Pole. Her father appeared appreciative of the suggestion and took his pictures.

    After Elyse had sat next to Santa for a few minutes, she got up and stood quietly in the front part of the sleigh and didn’t seem in any hurry to leave. I was still standing nearby, alert to when she might decide she had enough and climb out. Her father attempted to help Elyse relax and talk to us by sharing that she knew a magic trick. 

     “You know how to do a trick?” I prompted. She nodded but didn’t say a word. Her father said she knew how to make a rock disappear. When I asked her, in my most astounded voice, if that was so, she nodded and held out her hand to show me a little piece of gravel she had been carrying around.

    “Well, show her!” her father encouraged. I truly had my doubts that this timid little creature was going to do anything more than silently stand in Santa’s sleigh … but what followed next was a total transformation!

  • Financial Services Industry: Trends in Management Representation of Minorities and Women and Diversity Practices

     What GAO* Found

    Overall representation of minorities in first-, mid-, and senior-level management positions in the financial services industry increased from about 17 percent to 21 percent from 2007 through 2015. However, as shown in the figure below representation varied by race/ethnicity group and management level. Specifically, representation of African-Americans at various management levels decreased while representation of other minorities increased during this period. Overall representation of women was generally unchanged during this period. Representation of women among first- and mid-level managers remained around 48 percent and senior-level managers remained about 29 percent from 2007 through 2015.

    Representation of Specific Races/Ethnicities in Various Management Levels in the Financial Services Industry, 2007 and 2015

    Representation of Specific Races/Ethnicities in Various Management Levels in the Financial Services Industry, 2007 and 2015

    Note: The “Other” category includes Native Hawaiian or Pacific Islander, Native American or Alaska Native, and “two or more races.”

    Potential employees for the financial services industry, including those that could become managers, come from external and internal pools. For example, the external pool includes those with undergraduate or graduate degrees, such as a Master of Business Administration. In 2015, about 33 percent of the external pool included minorities and around 60 percent were women. The internal talent pool for potential managers in financial services includes those already in professional positions. In 2015, nearly 28 percent of professional positions in financial services were held by minorities and just over 51 percent were held by women.

    Research, financial services firm representatives, and financial industry stakeholders described challenges to recruiting and retaining members of racial/ethnic minority groups and women and practices that could help address these challenges, including recruiting from a wider variety of schools. Firm representatives said that it is important for firms to assess firm-level data on diversity and inclusiveness. However, firm representatives and other stakeholders differed in their views on whether firm-level diversity data should be made public. For example, one stakeholder stated that sharing diversity data publicly would create incentives for improvement. However, a firm representative said that for firms that are not diverse, making employee diversity data public could make improvement of workforce diversity more difficult for them.

    Why GAO Did This Study

    The US workforce force has become increasingly diverse and is projected to become even more diverse in the coming decades. As a result, many private sector organizations have recognized the importance of recruiting and retaining minorities and women for key positions to improve their business or organizational performance and help them better meet the needs of a diverse customer base. The financial services industry is a major source of employment in the United States and affects the economic well-being of its customers. However, questions remain about diversity in the financial services industry, which provides services that help families build wealth and are essential to economic growth.

    GAO was asked to analyze diversity trends in the financial services industry, particularly in management positions. This report examines (1) trends in management-level diversity in the financial services industry from 2007 through 2015, (2) trends in diversity among potential talent pools, and (3) challenges financial services firms identified in trying to increase workforce diversity and practices firms used to address them.

    GAO analyzed data from the Equal Employment Opportunity Commission (EEOC) and the Department of Education. The most recent available data were from 2015. GAO also reviewed studies on workforce diversity and interviewed representatives from financial services firms and organizations that advocate for the financial services industry, women, or minorities. EEOC provided technical comments on a draft of this report that GAO incorporated as appropriate.

    For more information, contact Daniel Garcia-Diaz at (202) 512-8678 or GarciaDiazD@gao.gov.

    *The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for Congress. Often called the “congressional watchdog,” GAO investigates how the federal government spends taxpayer dollars. The head of GAO, the Comptroller General of the United States, is appointed to a 15-year term by the President from a slate of candidates Congress proposes. Gene L. Dodaro became the eighth Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO) on December 22, 2010, when he was confirmed by the United States Senate. He was nominated by President Obama in September of 2010 from a list of candidates selected by a bipartisan, bicameral congressional commission. He had been serving as Acting Comptroller General since March of 2008.
    Our Mission is to support the Congress in meeting its constitutional responsibilities and to help improve the performance and ensure the accountability of the federal government for the benefit of the American people. We provide Congress with timely information that is objective, fact-based, nonpartisan, nonideological, fair, and balanced.
  • Women Rule? We’re Getting Closer

     

    Leading women from the Women Rule Summit share their personal stories about starting their own business in Washington, how to have the tough conversations in business and offer their advice as mentors.

    by Jo Freeman

    We may be in for another Year of the Woman.  The last year to get that designation was 1992, which saw a great leap upward in the number of women elected to Congress, from 29 to 47 in the House and from 2 to 7 in the Senate.  This followed the highly publicized revelations of Anita Hill during confirmation hearings on Clarence Thomas for the Supreme Court that he had made numerous sexual overtures to her when he was her boss at the EEOC and the Dept. of Education. 

    On December 5 Rep. Cheri Bustos (D-IL) told the Fifth annual Woman Rule Summit that she saw the same energy and enthusiasm in women during the last year that she saw in 1992, and thought another Year might be coming.  Sexual harassment by powerful men certainly attracted a lot more attention in 2017 than it did 25 years ago.  There has been a shift in the presumption that the women were lying to a belief that the men are in denial.  

    The Women Rule Summit, organized by Politico, featured a lot of women and a few men talking about issues of importance to women in more than just politics.  The Fifth Summit had panels on women in sports, as entrepreneurs, in federal law enforcement, as well as a lot on politics.

    Sen. Marco Rubio (R-FL) spoke on a panel about how to stop human trafficking.  Last Spring he and Sen. Elizabeth Warren (D-MA) jointly sponsored a bill to curtail the use of the financial system for trafficking.  While they are polar opposites on most issues, they agreed that the government should look for ways to stop “this heinous crime.”

    Cong. Jackie Speier (D-CA) said that in Congress, the system protects the harassers while describing the long process victims must go through if they want to complain*.  She did think there has been a “new enlightenment” that all those accused should resign.  That same day Rep. John Conyers (D-MI) said he is retiring after numerous allegations by former female staffers of improper conduct.  A few days earlier Speier had called him a predator
    Me Too Founder, Tarana Burke 
    The greater willingness of women to speak out about sexual harassment during 2017 appears to be one consequence of Trump’s bragging about grabbing women’s ‘pussies’ during the campaign. That was highlighted by the massive women’s march on January 21.  Trump’s boasts angered women.  The women’s march empowered them.  
     
    Tarana Burke, Founder of Me, Too movement, speaker, Women Rule
     
    Early signs that female discontent will be expressed in the voting booth could be seen on November 7.  In Virginia, the number of women in the House of Delegates increased by 50 percent and the gender gap in all races widened significantly.  These electoral wins favor the Democrats.  Since 1992, there has  been a “party gap.”  Democratic women are much more likely to run for office than Republican women and win when they do.   When the Democrats win, women win.  Republican women’s success in winning elections has stagnated in the last 25 years.
     
    At the Fifth Summit Eliana Johnson, Politico’s political reporter, asked South Carolina state representative Phyllis Henderson, a Republican, why Republicans didn’t elect more women.  She carefully avoided answering the question by referring to the difficulties of raising money.  While that may have been true decades ago, data show that women candidates’ success in raising money today is no different than men’s.  Yet, the “party gap” persists.
     
    Politics apart, women have increased their presence in most fields, but not all.  Speakers at a panel on law enforcement said that women’s presence in federal law enforcement has been frozen at 15 percent for decades.  The worst agency in terms of female employment is the Border Patrol, with just five percent women.  The best, in employment percentages, is the FBI with 20 percent women.  Back in the day of J. Edgar Hoover, there weren’t any.
     
     
    *How To File a Complaint of Sexual Harassment: Correcting the Record With the OOC

    In recent weeks there have been many media reports about the process for employees in the legislative branch to file claims with the Congressional Office of Compliance (OOC) under the Congressional Accountability Act of 1995 (CAA). Several of those reports contain incorrect information about that process. The questions and answers [in this post] address the most common misconceptions about the OOC; more detailed information is available [at the website].
  • Pew Research Center: On Gender Differences, No Consensus on Nature vs. Nurture; Americans Say Society Places a Higher Premium on Masculinity Than on Femininity

    Twenty-five years after the release of the bestseller Men are from Mars, Women are from Venus, the debate over how and why men and women are different and what that means for their roles in society is far from settled.

    A new Pew Research Center survey finds that majorities of Americans say men and women are basically different in the way they express their feelings, their physical abilities, their personal interests and their approach to parenting. But there is no public consensus on the origins of these differences. While women who perceive differences generally attribute them to societal expectations, men tend to point to biological differences.

    The public also sees vastly different pressure points for men and women as they navigate their roles in society. Large majorities say men face a lot of pressure to support their family financially (76%) and to be successful in their job or career (68%); much smaller shares say women face similar pressure in these areas. At the same time, seven-in-ten or more say women face a lot of pressure to be an involved parent (77%) and be physically attractive (71%). Far fewer say men face these types of pressures, and this is particularly the case when it comes to feeling pressure to be physically attractive: Only 27% say men face a lot of pressure in this regard.

    When asked in an open-ended question what traits society values most in men and women, the differences were also striking. The top responses of women related to physical attractiveness (35%) or nurturing and empathy (30%). For men, one-third pointed to honesty and morality, while about one-in-five mentioned professional or financial success (23%), ambition or leadership (19%), strength or toughness (19%) and a good work ethic (18%). Far fewer cite these as examples of what society values most in women.

    The survey also finds a sense among the public that society places a higher premium on masculinity than it does on femininity. About half (53%) say most people in our society these days look up to men who are manly or masculine; far fewer (32%) say society looks up to feminine women. Yet, women are more likely to say it’s important to them to be seen by others as womanly or feminine than men are to say they want others to see them as manly or masculine.

    Using the terms ‘manly or masculine’ and ‘womanly or feminine’

    There are key demographic and political fault lines that cut across some of these views. Just as Republicans and Democrats are divided in their views on gender equality, they have divergent opinions about why men and women are different on various dimensions. Attitudes on gender issues also often differ by education, race and generation.

    The nationally representative survey of 4,573 adults was conducted online Aug. 8-21 and Sept. 14-28, 2017, using Pew Research Center’s American Trends Panel.1 Among the key findings:

    Americans are divided along gender and party lines over whether differences between men and women are rooted in biology or societal expectations

  • Abuse of Authority Strips Protections from a Dinosaur Shangri-la, Undermining 1906 Antiquities Act

    The vast and austere landscape of the Grand Staircase-Escalante National Monument offers a spectacular array of scientific and historic resources. Download. Grand Staircase-Escalante National Monument. Bob Wick / BLM

     Hours after President Donald Trump issued a proclamation taking an ax to Grand Staircase-Escalante National Monument in Utah, conservation organizations filed a lawsuit attacking the order as an abuse of the president’s power. Earthjustice is representing eight organizations in a suit charging that the president violated the 1906 Antiquities Act by stripping monument protections from this national treasure: The Wilderness Society, the Grand Canyon Trust, the Sierra Club, Defenders of Wildlife, Great Old Broads for Wilderness, Center for Biological Diversity, WildEarth Guardians and Western Watersheds Project.  The Southern Utah Wilderness Alliance and Natural Resources Defense Council are co-plaintiffs in the lawsuit and represented by in-house counsel.

    “President Trump has perpetrated a terrible violation of America’s public lands and heritage by going after this dinosaur treasure trove,” said Heidi McIntosh, Managing Attorney in Earthjustice’s Rocky Mountains office. “While past presidents have used the Antiquities Act to protect unique lands and cultural sites in America, Trump is instead mangling the law, opening this national monument to coal mining instead of protecting its scientific, historic, and wild heritage. We will not let this stand. We will use the power of the law to stop Trump’s illegal actions.”

    The Grand Staircase-Escalante contains dinosaur fossils found nowhere else in the world. Since its designation, 21 new dinosaur species have been unearthed by scientists in the monument, leading some to call these lands a “Dinosaur Shangri-la,” and a “geologic wonderland.” Grand Staircase holds one of the richest collections of fossils from the Late Cretaceous Period, which gives scientists and the public alike an unparalleled window into the dinosaurs that lived in these lands 10 million years ago. In mid-October, scientists airlifted one of the most complete tyrannosaur skeletons ever found out of Grand Staircase. These fossils are largely found in the Kaiparowits Plateau, where the coal industry has long coveted access for coal mining that would wreak havoc on this dinosaur treasure trove that belongs to the American people.

    “I’m a resident of Kanab, and there are a lot of local businesses that are completely dependent on tourism related to Grand Staircase-Escalante,” said Laura Welp of Western Watersheds Project, and a former BLM botanist at Grand Staircase-Escalante National Monument. “The entire ‘staircase’ of spectacular geological layers, with its world-class fossil resources, deserves to be protected intact from the threat of coal mining and other types of commercial exploitation.”

    President Trump’s executive order to revoke and replace Grand Staircase-Escalante National Monument came on the heels of a review conducted by Interior Secretary Ryan Zinke. Over 2.7 million Americans roared their support for national monuments across the country, and public participation in the comment period was overwhelmingly in favor of keeping these public lands and waters protected just as they are.

    “President Trump is attempting an unauthorized remodel of the Grand Staircase, knocking out not only geologic steps but cornerstones of the evolution of species, human history, and our cultural heritage as well,” said Tim Peterson, Utah Wildlands Program Director with the Grand Canyon Trust. “We’ve spent 20 years working to preserve Grand Staircase, and now we’re asking the courts to help us reconstruct what was torn down today.”

    “The Trump administration’s effort to sell out our public lands is deeply unpopular and goes against American values,” said Michael Brune, Executive Director of the Sierra Club. “We will work to ensure our lands and waters remain open to the public and protected for future generations to explore and enjoy.”

    “For more than two decades, through Democratic and Republican Administrations alike, we have worked with the BLM, paleontologists, local landowners, ranchers and business owners to ensure the monument’s resources are protected,” said Nada Culver, Senior Counsel for The Wilderness Society. “This unlawful, short-sighted action by President Trump is an affront to that collaborative work happening and to the benefits the monument provides to research, the local economy, and all Americans.”

  • FactCheck: Trump Likely Benefits from Tax Bills

    “President Donald Trump claimed that the Republican tax plans in Congress would “cost me a fortune.” He has offered no proof of that, and it’s highly doubtful. Several provisions of the tax bills would benefit wealthy individuals like Trump.”

    Sen. Jon Tester (D-Montana) holds up a copy of the 479-page GOP tax bill, complete with handwritten edits, in a video shot just before the bill passed the Senate early Saturday morning; Billings Gazette

    President Donald Trump claimed that the Republican tax plans in Congress would “cost me a fortune.” He has offered no proof of that, and it’s highly doubtful. Several provisions of the tax bills would benefit wealthy individuals like Trump.

    This isn’t the first time that the president has claimed that a tax overhaul wouldn’t be good for him, or the wealthy, despite analyses of the tax plans that show most of the benefits accruing to the top income earners. But we can’t say exactly how the plans would impact Trump since he has broken decades of political precedent by refusing to release his tax returns. A Democratic effort in the House to force the release of Trump’s tax returns failed this week.

    Trump made his latest unsubstantiated claim about the impact on the tax plans in a speech in Missouri on Nov. 29.

    Trump, Nov. 29: This is going to cost me a fortune, this thing, believe me. Believe me — this is not good for me. Me, it’s not so — I have some very wealthy friends. Not so happy with me, but that’s OK. You know, I keep hearing Schumer: “This is for the wealthy.” Well, if it is, my friends don’t know about it.

    The statistical odds alone are that Trump or his “very wealthy friends” will come out ahead. According to the Tax Policy Center’s analysis of the House bill, 76.5 percent of those earning more than $1 million would get a tax cut in 2018 and 70.6 percent of them get a cut in 2027, compared with current law. Under the Senate bill, more than 80 percent of millionaires get a tax cut in both 2019 and 2027, with the average cut at more than $46,000 in the latter year.

    The Joint Committee on Taxation’s analyses found that more than 50 percent of the tax relief goes to those earning at least $200,000 in 2027 under the House bill, or 2025 under the Senate bill.

    Treasury Secretary Steven Mnuchin acknowledged that the wealthy would have to benefit from these tax overhauls since they pay most of the federal income taxes. Mnuchin told Politico in October: “So when you’re cutting taxes across the board, it’s very hard not to give tax cuts to the wealthy with tax cuts to the middle class. The math, given how much you are collecting, is just hard to do.”

    Here’s how Trump may be affected by some of the major tax provisions:

    Estate tax. The clearest benefit for the Trump family would be the tax bills’ changes to the estate tax, which falls on estates worth more than $5.49 million (nearly $11 million for a couple). The House bill would repeal the estate tax entirely in 2024. As we’ve written before, that would save Trump’s estate $564 million, according to a Bloomberg estimate, based on a net worth of $3 billion. Trump has said his net worth is $10 billion, and if so, the savings to his estate from a repeal of the tax would be $1.9 billion.

  • Henry James, American Painting and Memorable Heroines

    Return from the Lido

    Return from the Lido, 1884, Oil on canvas, Isabella Stewart Gardner Museum; purchased by Isabella Stewart Gardner from the American painter and collector Ralph W. Curtis (1854-1992), Venice for $150 in December 1884.

    Henry James and American Painting, an exhibition that is the first to explore the relationship between James’ literary works and the visual arts, is appearing at the Isabella Stewart Gardner Museum in Boston. On view until Jan. 21, 2018, it offers a fresh perspective on the master novelist and the significance of his friendships with American artists John La Farge, John Singer Sargent, and James McNeill Whistler, and close friend and esteemed arts patron, Isabella Stewart Gardner. 

    Originating this past summer at the Morgan Library and Museum, the exhibition includes a rich selection of more than 50 oil paintings, drawings, watercolors, photographs, manuscripts, letters, and printed books from 24 museums and private collections in the US, Great Britain, and Ireland. The Gardner Museum will also pay special attention to James’s enduring relationship with Gardner and their circle of mutual friends through archival objects and correspondence drawn from the Museum collection.  

    “Isabella Stewart Gardner’s bold vision for the Museum as an artistic incubator where all disciplines of art inform and inspire each other — from visual art to dance, literature, music, and the spoken word — is as relevant as ever in today’s fluid, multi-faceted culture,” said Peggy Fogelman, the Museum’s Norma Jean Calderwood Director. “In many ways, it all began in those grand salons with Gardner, James, Sargent, and Whistler.”

    James, who had a distinctive, almost painterly style of writing, is best known for his books, Portrait of a Lady (1880)Washington Square (1880), The Wings of a Dove (1902), and The Ambassadors (1903).  He was part of a creative circle of writers and artists in the late 1800s that were on the move between grand salons and artists’ studios in Boston, Florence, London, and Rome. A woman ahead of her time, Gardner was an influential part of the group, and her Museum vividly evokes one city that captivated all of them: Venice. 

    An Interior in Venice

    John Singer Sargent’s 1889 painting, An Interior in Venice, showcases a palazzo’s grand salon and is part of the exhibition, on loan from the Royal Academy of Arts in London.

  • How Far Have We’ve Come? Janet Yellen, Her Resignation and the Current Economic Outlook

    tour3

    Chair Janet L. Yellen meets with the students, school administrators, local workforce leaders, and employer partners from the “Right Skills Now” job training program at Cuyahoga Community College; September 2017, Cleveland

    Resignation Letter to President Trump

    The Current Economic Outlook and Monetary Policy

    Chair Janet L. Yellen, November 29, 2017 … Before the Joint Economic Committee, U.S. Congress, Washington, DC

    Chairman Tiberi, Ranking Member Heinrich, and members of the Committee, I appreciate the opportunity to testify before you today. I will discuss the current economic outlook and monetary policy.

    The Economic Outlook
    The US economy has strengthened further this year. Smoothing through the volatility caused by the recent hurricanes, job gains averaged about 170,000 per month from January through October, a somewhat slower pace than last year but still above the range that we estimate will be consistent with absorbing new entrants to the labor force in coming years. With the job gains this year, 17 million more Americans are employed now than eight years ago. Meanwhile, the unemployment rate, which stood at 4.1 percent in October, has fallen 0.6 percentage point since the turn of the year and is nearly 6 percentage points below its peak in 2010. In addition, the labor force participation rate has changed little, on net, in recent years, which is another indication of improving conditions in the labor market, given the downward pressure on the participation rate associated with an aging population. However, despite these labor market gains, wage growth has remained relatively modest. Unemployment rates for African Americans and Hispanics, which tend to be more sensitive to overall economic conditions than those for whites, have moved down, on net, over the past year and are now near levels last seen before the recession. That said, it remains the case that unemployment rates for these minority groups are noticeably higher than for the nation overall.

    Meanwhile, economic growth appears to have stepped up from its subdued pace early in the year. After having risen at an annual rate of just 1-1/4 percent in the first quarter, US inflation-adjusted gross domestic product (GDP) is currently estimated to have increased at a 3 percent pace in both the second and third quarters despite the disruptions to economic activity in the third quarter caused by the recent hurricanes. Moreover, the economic expansion is increasingly broad based across sectors as well as across much of the global economy. I expect that, with gradual adjustments in the stance of monetary policy, the economy will continue to expand and the job market will strengthen somewhat further, supporting faster growth in wages and incomes. Although asset valuations are high by historical standards, overall vulnerabilities in the financial sector appear moderate, as the banking system is well capitalized and broad measures of leverage and credit growth remain contained.

    Even with a step-up in growth of economic activity and a stronger labor market, inflation has continued to run below the 2 percent rate that the Federal Open Market Committee (FOMC) judges most consistent with our congressional mandate to foster both maximum employment and price stability. Increases in gasoline prices in the aftermath of the hurricanes temporarily pushed up measures of overall consumer price inflation, but inflation for items other than food and energy has remained surprisingly subdued. The total price index for personal consumption expenditures increased 1.6 percent over the 12 months ending in September, while the core price index, which excludes energy and food prices, rose just 1.3 percent over the same period, about 1/2 percentage point slower than a year earlier. In my view, the recent lower readings on inflation likely reflect transitory factors. As these transitory factors fade, I anticipate that inflation will stabilize around 2 percent over the medium term. However, it is also possible that this year’s low inflation could reflect something more persistent. Indeed, inflation has been below the Committee’s 2 percent objective for most of the past five years. Against this backdrop, the FOMC has indicated that it intends to carefully monitor actual and expected progress toward our inflation goal.

    Although the economy and the jobs market are generally quite strong, real GDP growth has been disappointingly slow during this expansion relative to earlier decades. One key reason for this slowdown has been the retirement of the older members of the baby-boom generation and hence the slower growth of the labor force. Another key reason has been the unusually sluggish pace of productivity growth in recent years. To generate a sustained boost in economic growth without causing inflation that is too high, we will need to address these underlying causes. In this regard, the Congress might consider policies that encourage business investment and capital formation, improve the nation’s infrastructure, raise the quality of our educational system, and support innovation and the adoption of new technologies.

    Monetary Policy
    I will turn now to the implications of recent economic developments and the outlook for monetary policy. With ongoing strengthening in labor market conditions and an outlook for inflation to return to 2 percent over the next couple of years, the FOMC has continued to gradually reduce policy accommodation. The Committee raised the target range for the federal funds rate by 1/4 percentage point at both our March and June meetings, with the range now standing at 1 to 1-1/4 percent. And, in October, the Committee began its balance sheet normalization program, which will gradually and predictably reduce our securities holdings. The Committee set limits on the pace of balance sheet reduction; those limits should guard against outsized moves in interest rates and other potential market strains. Indeed, there has been little, if any, market effect associated with the balance sheet runoff to date. We do not foresee a need to alter the balance sheet program, but, as we said in June, we would be prepared to resume reinvestments if a material deterioration in the economic outlook were to warrant a sizable reduction in the federal funds rate.

    Changes to the target range for the federal funds rate will continue to be the Committee’s primary means of adjusting the stance of monetary policy. At our meeting earlier this month, we decided to maintain the existing target range for the federal funds rate. We continue to expect that gradual increases in the federal funds rate will be appropriate to sustain a healthy labor market and stabilize inflation around the FOMC’s 2 percent objective. That expectation is based on the view that the current level of the federal funds rate remains somewhat below its neutral level–that is, the rate that is neither expansionary nor contractionary and keeps the economy operating on an even keel. The neutral rate currently appears to be quite low by historical standards, implying that the federal funds rate would not have to rise much further to get to a neutral policy stance. If the neutral level rises somewhat over time, as most FOMC participants expect, additional gradual rate hikes would likely be appropriate over the next few years to sustain the economic expansion.

    Of course, policy is not on a preset course; the appropriate path for the federal funds rate will depend on the economic outlook as informed by incoming data. The Committee has noted that it will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. More generally, in determining the timing and size of future interest rate adjustments, the Committee will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

    Thank you. I would be pleased to answer your questions.

    Janet L. Yellen submitted her resignation Monday as a Member of the Board of Governors of the Federal Reserve System, effective upon the swearing in of her successor as Chair.

    Dr. Yellen, 71, was appointed to the Board by President Obama for an unexpired term ending January 31, 2024. Her term as Chair expires on February 3, 2018. She also serves as Chair of the Federal Open Market Committee, the System’s principal monetary policymaking body.

    Prior to her appointment as Chair, Dr. Yellen served as Vice Chair of the Board of Governors, from October 2010 to February 2014, and as President of the Federal Reserve Bank of San Francisco, from June 2004 to October 2010. She was initially appointed to the Board by President Clinton in August 1994 and served until February 1997, when she resigned to serve as Chair of the President’s Council of Economic Advisers, until August 1999.

    Dr. Yellen is Professor Emerita at the University of California at Berkeley, where she has been a member of the faculty since 1980. She was born in Brooklyn, New York, in August 1946 and received her undergraduate degree in economics from Brown University in 1967 and her Ph.D. in economics from Yale University in 1971. Dr. Yellen is married and has an adult son.

  • New App Maps Overdose Epidemic in Real Time; Few States Are Sharing Data with Other States

    Stateline

    First responders in Huntington, West Virginia, put a patient in an ambulance after rescuing her from an apparent heroin overdose. New mapping software is helping police, emergency medical personnel and public health officials prepare for increasingly common heroin and fentanyl overdose spikes.

    By Christine Vestal, Stateline, Pew Charitable Trusts

    In the summer of 2016, drug overdose deaths in Baltimore were exploding and health commissioner Dr. Leana Wen told federal Drug Enforcement Administration officials the city needed real-time data to better manage its public health response. 

    Four months later, the DEA’s Washington/Baltimore High-Intensity Drug Trafficking Area (HIDTA) team had developed a smartphone application that could be used by first responders to record the time and location of overdoses and transmit the information to a regional mapping database.   

    Today, that tool, known as ODMAP, is used by more than 250 law enforcement, first responder and public health agencies in 27 states. 

    In an opioid overdose epidemic that killed more than 53,000 Americans last year and shows no signs of relenting, nearly every community in the nation is fortifying its public health, emergency medical and law enforcement response. But with limited resources, it’s essential to target efforts where they are needed most, said Washington/Baltimore HIDTA deputy director Jeff Beeson. 

    Since the epidemic began, a few cities and states have begun collecting data on drug seizures, arrests, overdose deaths and other collateral effects of the opioid epidemic. 

    Indiana, for example, is working on a statewide, multi-agency database that includes information on pharmacy robberies, overdose-related ambulance calls and the use of the opioid overdose antidote naloxone. Alaska, Arizona, Florida, Maryland, Massachusetts, Minnesota and Virginia have declared the opioid epidemic a state of emergency, in part to enable better information sharing among agencies. 

    But few states are sharing data with other states. And there has been no consistent, timely nationwide data available on drug overdoses. The US Centers for Disease Control and Prevention compiles overdose death data from state death certificates, but the information is published only once a year and is more than a year old.  

    According to Beeson, ODMAP is the only tool designed to track drug overdoses, both fatal and non-fatal, by location, as they happen. And because the same application can be used by all state and local authorities, the resulting database is the first to support a nationwide map. 

    The more states and counties start using the free application, he said, the better it will become at analyzing how overdoses move from one neighborhood, county or state to another. 

    “We already know, for example, that drugs are moving along major highways from Baltimore to West Virginia and down to Northern Virginia,” Beeson said. With ODMAP, an overdose spike in Baltimore can serve as an early warning for Berkeley County, West Virginia, and Alexandria, Virginia, for example, that a potential surge may hit their communities a couple of hours later, because the same dealers will be selling the same high-potency drugs along their usual routes. 

    So far, ODMAP has been adopted in parts of Alabama, California, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Michigan, Montana, New Mexico, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington, Wisconsin and West Virginia.  

    How it Works

    After first responders attempt to rescue an overdose victim in a home, parking lot, public restroom or on the street, they record the incident with a single click on one of six colored-coded bars displayed on the app. For non-fatal overdoses, the bars indicate whether naloxone was administered and if so, whether one or multiple doses were used. For fatal overdoses, the choices are the same. 

    The information is then transmitted to a central database along with the location and time. On a moment-to-moment basis, maps of all known overdoses in an area can be accessed by hospitals, emergency medical teams, police, public health officials and policymakers to either prepare a response or analyze trends. 

    If there’s a spike in overdoses, for example, police, fire and emergency medical responders can stock extra doses of naloxone in their vehicles and make sure sufficient staff is on standby. Hospital emergency departments can prepare for an influx of overdose-related cases. And public health officials can direct training and distribution of naloxone to the affected neighborhoods to help prevent further deaths. 

    The police department in Columbia, South Carolina, was one of the first to adopt ODMAP. Police Chief William “Skip” Holbrook said he immediately saw the value of the tracking tool because his last job was in West Virginia, where the overdose rate is highest in the nation. He said he learned from his tenure in Appalachia that illicit drugs and the crime and deaths they cause seldom remain isolated. 

    Although West Virginia had been suffering from the opioid epidemic for more than a decade, it was just emerging in South Carolina when he started his job there three-and-a-half years ago. Holbrook said about a year after he arrived, he became concerned that heroin would start moving into Columbia and surrounding Richland County from Myrtle Beach and other coastal towns where it was becoming a growing problem. 

    Now that’s happening, Holbrook said. But with the Richland and Charleston County Sheriff’s Departments contributing overdose data to ODMAP, he said, it has allowed officials to see where, and how quickly, the problem is spreading, which has allowed the Columbia police force to be more proactive. 

    “It’s not a matter of whether the drugs will come to your jurisdiction,” he said, “but when and how prepared you’re going to be.”