Newsletter Nov 23, 2021

President Biden played it safe in selecting his Federal Reserve Chair nomination, sticking with current chief Jerome Powell to run the show.

3 things you must know

Biden opts to renominate Jerome Powell as Fed Chair
President Joe Biden and former President Donald Trump don't see eye to eye on many things, but they agree when it comes to picking the best person to run the Federal Reserve. Biden has decided to renominate the current Fed Chair Jerome Powell.
The choice isn't a major upset since Powell has solid support on both sides of the Senate, but there was some pressure from progressive Democrats to replace him with Lael Brainard, whom Biden tabbed for deputy vice chair. It seems staying the course during the economic recovery from the pandemic was a safe call.
FIND OUT HOW THE MARKETS RESPONDED TO THE NEWS

Red-hot housing market headed for 15-year record high
The existing home sales market still seems to have a lot of steam as it reached a nine-month high on Monday, increasing 0.8% in October. The small but steady ascent has the housing market on course to break a record high in sales not reached since 2006.
But there are still concerns about the overall health of the housing picture as declining inventory and skyrocketing rent prices is pinching potential buyers out of the American dream. Only 29% of the average of 40% of those buying home are first-time buyers.
SEE HOW THE HOUSING MARKET IS A TWO-EDGED SWORD

You can't cash-proof your portfolio, but you can fix behavior
First off, there's no such thing as cash-proofing your portfolio. The stock market and economy just don't work that way. But what investors can do is adjust their behavior and build a sound plan.
With so many newcomers to the game aiming to hit home runs on every stock purchase, it takes a disciplined approach to keep focused on the fundamentals of investing. But IBT contributor Vern Hayden, a hardened veteran with more than a half-century of experience in the game, breaks down all the do's and don'ts.
GET SMART TIPS ON HOW TO MANAGE YOUR PORTFOLIO

Markets

DJIA	35,619.25	0.05%
S&P 500	4,682.94	-0.32%
Nasdaq Composite	15,854.76	-1.26%
Japan: Nikkei 225	29,774.11	0.09%
UK: FTSE 100	7,262.32	0.09%
Crude Oil Futures	76.48	-0.35%
Gold Futures	1,796.30	-0.55%
Yen	115.02	0.12%
Euro	1.12	0.05%
* As of market close

Over 90% of federal workforce vaccinated

Say what you will about the legality of COVID vaccine mandates for federal employees; the Biden administration is just calling it effective. The White House announced Monday that over 90% of the federal workforce (95% excluding contractors) has complied with the order.

That might work in the public sector but Biden's mandates on private companies with 100 or more employees appears to be on thin ice under a court order and a flood of lawsuits by more than half the states. It appears Biden expected the blowback but did it to push vaccinations.

FIND OUT THE LIKELY FATE OF BIDEN'S PRIVATE MANDATES

JFK assassination debated 58 years later

The Nov. 22, 1963 assassination of then-President John F. Kennedy was a moment Baby Boomers used to bookmark their lives. Everyone knew where they were when they got the news, but many of those who experienced it are dead, leaving future generations with questions.

With so many conspiracy theories surrounding the incident (including some QAnon followers who are still in Dallas awaiting his and his late namesake's return), historians still have questions left unanswered by the 1964 Warren Commission, giving rise to wild alternative theories.

FIND OUT WHY BIDEN AND TRUMP DELAYED A NEW REPORT

Uber Eats going into the weed delivery biz

Marijuana users who run out of weed won't have to go down to the corner dispensary or visit their local pot dealer. Uber Eats is adding weed to its delivery menu to bring herb to your front door, but for now only in Ontario, Canada. Don't worry potheads; help is on the way.

After legalizing weed nationally three years ago, Canada is the first test market for Uber Eats to deliver marijuana products to eligible users. The U.S. is finally seeing some bipartisan support for decriminalization and strict state regulation. If it passes, Uber Eats will be ready to roll. There's also a chance the same driver will return in an hour with pizza.

SEE UBER EATS' PLAN TO CORNER THE POT DELIVERY MARKET