In a year with record-setting fires in the West and historic hurricane numbers in the East, climate change is top of mind for many people.
For just the second time in history, Atlantic storms are being named using the Greek alphabet after surpassing the annual list of names.
"As far as the hurricanes, there's a lot of scientific debate on the hurricanes," Andrew R. Wheeler, administrator of the Environmental Protection Agency, claimed today on Cheddar's Opening Bell.
Meanwhile, leaders in Western states have been raising concerns about climate change once again as devastating and deadly fires consume more land than ever before. Those leaders pressed President Trump on the issue last week after the administration blamed forest management for the fires. At the time, the president claimed that "it will get cooler soon."
Wheeler told Cheddar he does believe in climate change and humanity's contribution.
But Wheeler doubled-down on the administration's claims that forest management was behind California's increasingly destructive fires. "I do believe most of it is forest management issues because you don't have the same problems in other parts of the country," Wheeler said.
This week a group of former leaders of the EPA endorsed Joe Biden. The group was made up of EPA leaders who served under Democratic and Republican administrations. Christine Todd Whitman, a former Republican governor from New Jersey who ran the EPA under President George W. Bush, reiterated her stance Monday that the current administration was running a war against science.
Wheeler hit back today on Cheddar. "Yesterday's announcement was just pure politics," he said. "They had no facts to back up their statement."
Wheeler touted the agency's record on regulation enforcement and said he is "very proud of the fact that we have doubled the amount of both civil and criminal penalties by the Obama-Biden administration during the same time period." He went on to say the agency's foremost responsibility now is to enforce existing regulations as more and more environmental programs are delegated to the states.
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
