Co-Author of Chilling Climate Change Report Warns of Imminent Threat to Economy
*By Christian Smith*
If you didn't find this weekend's dramatic climate report unsettling, read it again.
Andrew Light, distinguished senior fellow at the World Resources Institute and co-author of the report, said on Cheddar Monday that the effects of climate change are imminent ー unless the federal government acts now.
"It is threatening almost every sector of the economy ー of course more so those sectors that are dependent on natural resources," Light said.
"We should start moving with the most effective and efficient policies that can begin switching our energy sources in earnest from fossil-fuel based to non-fossil fuel based, and also begin to lead the entire country on measures towards adaptation and resilience."
The Trump administration released its dire findings on the Friday after Thanksgiving, timing many have called suspicious ー among them, Politico reporter Matt Daily, who thinks officials meant to bury the news on a holiday weekend.
"I don't know if burying it on Black Friday was a very successful tactic," Daily told Cheddar, noting that the attempt to downplay the news only handed environmental advocates a new line of criticism against the administration.
The [National Climate Assessment](https://nca2018.globalchange.gov/), which is required by federal law to be published every four years, found that climate change will cost the American economy hundreds of billions of dollars by the end of the century and will endanger thousands of American lives each year. The White House issued a [statement](https://www.nytimes.com/2018/11/25/climate/trump-climate-report.html) saying that the report, which was instituted under the Obama administration, was "largely based on the most extreme scenario” of global warming.
Daily disagreed.
"That's a bit of a stretch, to put it mildly," Daily said. "The report offers quite a wide range of what's possibly coming our way by the end of the century."
Light noted that some states and cities were already moving in the right direction ー but he added the federal government needs to take the lead.
"The U.S. federal government is not leading even though we are seeing states and cities do quite a lot," Light said.
Pfizer has asked the FDA to expand authorization of COVID booster shots for all adults. The agency is expected to grant the request in the coming weeks, allowing vaccinated Americans as young as 18 to get boosted before the holidays. Dr. Bayo Curry-Winchell, Regional Clinical Director at Carbon Health, joined Cheddar to discuss.
The Justice Department has filed a lawsuit to block Penguin Random House from acquiring its rival Simon & Schuster. The DOJ hopes this will block the merger, which it says would ultimately hurt authors and consumers nationwide. Barry C. Lynn, executive director of the Open Markets Institute, joined Cheddar to explain what the lawsuit signals about the Biden administration's approach to cracking down on antitrust, and why Amazon might be next.
The major markets took a breather Tuesday, with the Dow, S&P, Nasdaq, and Russell 2000 all finishing lower after notching record closes on Monday. Rhys Williams, Chief Strategist at Spouting Rock Asset Management, joins Cheddar News' Closing Bell, where he provides his biggest takeaways from the day's activity.
The U.S. economy added 531,000 jobs in the month of October, painting a better picture of the economy that analysts had expected. Jared Bernstein, Council of Economic Advisers Member for President Biden joined Cheddar's Opening Bell to discuss.
Election Day 2021 is in the books, and it wasn't a pretty picture for Democrats. Governor Phil Murphy narrowly won re-election in New Jersey and Republican Glenn Youngkin upset Democrat Terry McAuliffe in Virginia, with many other disappointing losses for the left. Meridith McGraw, national correspondent for Politico, breaks down the key takeaways from this year as the nation looks ahead to the 2022 midterms.
Markets opened higher to kick off the week as investors continue to digest the better-than-expected jobs report, which showed 531,000 new jobs created in October. Ken Johnson, CFA, Investment Strategy Analyst joined Cheddar's Opening Bell to break down his early market insights.
Almost 2 years into the pandemic, supply chain woes continue to wreak havoc on our everyday lives.
From groceries to chip shortages, both consumers and retailers are feeling the strain with prices only climbing as a result. Data intelligence company Morning Consult is out with its U.S. Economic Outlook for November revealing just how much of a threat these hold-ups could pose to the greater economic recovery. John Leer, Chief Economist at Morning Consult joined Cheddar's Opening Bell.
After many years and at least two presidents hoping to overhaul America's infrastructure, congress finally came to an agreement. The House passed the bipartisan infrastructure bill late Friday, receiving thirteen republican votes but failing to earn votes from the six progressive squad members. Joseph Zeballos-Roig, Economics Reporter at Insider joined Cheddar's Opening Bell to discuss the economic impact of the bill.
