California might be doubling down on its pro-marijuana stance.
Berkeley Mayor Jesse Arreguín told Cheddar that the state could soon follow in his city’s cannabis law footsteps.
“California is actually looking at potentially becoming a sanctuary state for cannabis, just like we’re a sanctuary state for enforcement of federal immigration laws,” he told Cheddar on Tuesday.
Berkeley’s City Council announced last month that municipal agencies would no longer collaborate with the Drug Enforcement Administration to enforce federal policies on recreational, adult-use marijuana. It became the first “sanctuary” city for marijuana in the U.S.
The move was a direct jab at Attorney General Jeff Sessions, who earlier this year scrapped Obama-era rules that said the federal government would not interfere with states’ cannabis laws. Arreguín encourages states and cities looking to offer citizens an extra layer of protection to take the plunge and stand for states’ rights.
“Cannabis is still a drug under federal law, but many states … have actually decided that now is the time for decriminalization,” he said, “to remove the black market, to address the social impact that the war on drugs has had on communities of color, and to try to level the playing field.”
For the full interview, [click here](https://cheddar.com/videos/berkeley-mayor-california-could-become-marijuana-sanctuary-state).
HotelPlanner CEO Tim Hentschel told Cheddar that the travel industry is taking the worst hit it has seen in nearly two decades thanks to the coronavirus outbreak paralyzing multiple countries.
Stocks are whipping up and down after the Federal Reserve swooped into the market with an emergency rate cut in hopes of shielding the economy from the effects of the fast-spreading virus. Tuesday's surprise move gave stocks a strong, brief boost, but it took just 15 minutes for the gains to evaporate.
Chairman Jerome Powell said at a news conference that the virus “will surely weigh on economic activity both here and abroad for some time.” It was the Fed's first rate cut since last year, when it reduced its key short-term rate three times.
These are the headlines you Need 2 Know for Tuesday, March 3, 2020.
As COVID-19 rocked the world and the U.S. markets, the bitcoin price trended right alongside them, appearing more like a risk asset than the safe-haven asset so many crypto enthusiasts hope it can be.
Flip or Flop star Tarek El Moussa is stepping out on his own in a new HGTV series Flipping 101 where he will use his real estate expertise to help first-time flippers navigate the obstacles of flipping a house.
Dow Jones skyrockets on hopes central banks protect the economy from the coronavirus outbreak.
Stocks rose in early trading on Wall Street following a seven-day rout brought on by worries that the spreading coronavirus outbreak will stunt the global economy.
These are the headlines you Need 2 Know for Monday, March 2, 2020.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
