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Worried about the economy? Watch bank earnings

New York (CNN Business)1. Bank earnings: As the global economic outlook darkens, American banks have an unenviable job: Convincing a jittery public that the US economy remains strong and can keep growing.Concerns about whether the economy can continue expanding have gripped investors in recent weeks, and spurred erratic swings in global markets. Such fears threaten…

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Worried about the economy? Watch bank earnings

New York (CNN Business)1. Bank earnings: As the global economic outlook darkens, American banks have an unenviable job: Convincing a jittery public that the US economy remains strong and can keep growing.

Concerns about whether the economy can continue expanding have gripped investors in recent weeks, and spurred erratic swings in global markets. Such fears threaten to weigh on banks this year, because their performance is closely tied to the health of the economy.
Bank profits suffer when the economy stumbles and businesses are scared to borrow. They become especially vulnerable when a recession hits and some customers aren’t able to pay back loans.

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FDA vaccine advisers vote to recommend Pfizer’s Covid-19 vaccine for children 5 to 11

‘);$vidEndSlate.removeClass(‘video__end-slate–inactive’).addClass(‘video__end-slate–active’);}};CNN.autoPlayVideoExist = (CNN.autoPlayVideoExist === true) ? true : false;var configObj = {thumb: ‘none’,video: ‘health/2021/10/26/dr-christakis-intv-pfizer-fda-children-5-to-11-vaccinated-school-sot-lead-vpx.cnn’,width: ‘100%’,height: ‘100%’,section: ‘domestic’,profile: ‘expansion’,network: ‘cnn’,markupId: ‘large-media_0’,adsection: ‘const-article-pagetop’,frameWidth: ‘100%’,frameHeight: ‘100%’,posterImageOverride: {“mini”:{“width”:220,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-small-169.jpg”,”height”:124},”xsmall”:{“width”:307,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-medium-plus-169.jpg”,”height”:173},”small”:{“width”:460,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-large-169.jpg”,”height”:259},”medium”:{“width”:780,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-exlarge-169.jpg”,”height”:438},”large”:{“width”:1100,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-super-169.jpg”,”height”:619},”full16x9″:{“width”:1600,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-full-169.jpg”,”height”:900},”mini1x1″:{“width”:120,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-small-11.jpg”,”height”:120}}},autoStartVideo = false,isVideoReplayClicked = false,callbackObj,containerEl,currentVideoCollection = [],currentVideoCollectionId = ”,isLivePlayer = false,mediaMetadataCallbacks,mobilePinnedView = null,moveToNextTimeout,mutePlayerEnabled = false,nextVideoId = ”,nextVideoUrl = ”,turnOnFlashMessaging = false,videoPinner,videoEndSlateImpl;if (CNN.autoPlayVideoExist === false) {autoStartVideo = true;autoStartVideo = typeof CNN.isLoggedInVideoCheck === ‘function’…

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FDA vaccine advisers vote to recommend Pfizer’s Covid-19 vaccine for children 5 to 11
‘);$vidEndSlate.removeClass(‘video__end-slate–inactive’).addClass(‘video__end-slate–active’);}};CNN.autoPlayVideoExist = (CNN.autoPlayVideoExist === true) ? true : false;var configObj = {thumb: ‘none’,video: ‘health/2021/10/26/dr-christakis-intv-pfizer-fda-children-5-to-11-vaccinated-school-sot-lead-vpx.cnn’,width: ‘100%’,height: ‘100%’,section: ‘domestic’,profile: ‘expansion’,network: ‘cnn’,markupId: ‘large-media_0’,adsection: ‘const-article-pagetop’,frameWidth: ‘100%’,frameHeight: ‘100%’,posterImageOverride: {“mini”:{“width”:220,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-small-169.jpg”,”height”:124},”xsmall”:{“width”:307,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-medium-plus-169.jpg”,”height”:173},”small”:{“width”:460,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-large-169.jpg”,”height”:259},”medium”:{“width”:780,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-exlarge-169.jpg”,”height”:438},”large”:{“width”:1100,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-super-169.jpg”,”height”:619},”full16x9″:{“width”:1600,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-full-169.jpg”,”height”:900},”mini1x1″:{“width”:120,”type”:”jpg”,”uri”:”//cdn.cnn.com/cnnnext/dam/assets/211026173521-dr-christakis-small-11.jpg”,”height”:120}}},autoStartVideo = false,isVideoReplayClicked = false,callbackObj,containerEl,currentVideoCollection = [],currentVideoCollectionId = ”,isLivePlayer = false,mediaMetadataCallbacks,mobilePinnedView = null,moveToNextTimeout,mutePlayerEnabled = false,nextVideoId = ”,nextVideoUrl = ”,turnOnFlashMessaging = false,videoPinner,videoEndSlateImpl;if (CNN.autoPlayVideoExist === false) {autoStartVideo = true;autoStartVideo = typeof CNN.isLoggedInVideoCheck === ‘function’ ? 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Nor’easter lashes East Coast

Leaders on New York’s Long Island are reporting limited impacts from the nor’easter so far.Nassau County Executive Laura Curran said Tuesday she is keeping a watchful eye on the nor’easter, but she doesn’t expect the effects of the storm to be on the same scale and as devastating as Tropical Storm Ida.“It is always better…

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Nor’easter lashes East Coast

Leaders on New York’s Long Island are reporting limited impacts from the nor’easter so far.

Nassau County Executive Laura Curran said Tuesday she is keeping a watchful eye on the nor’easter, but she doesn’t expect the effects of the storm to be on the same scale and as devastating as Tropical Storm Ida.

“It is always better to be over prepared…and we always want to stay one step ahead,” Curran stated. 

Curran said there have already been a couple dozen power outages in Nassau County. The rain and wind will continue until tomorrow morning, and said they’re “looking out for the potential of fallen trees, fallen limbs, down power lines.” 

At least 16 car crashes have already occurred in Nassau County. Curran urged everyone to drive with caution and warned people to be watchful of flooding, which can occur due to high tides around the later afternoon. 

Medics and the police department will be on standby to help anyone in distress, Curran said. 

Meanwhile, Suffolk County leaders are following New York state’s lead in issuing an emergency declaration as they anticipate worse winds that could cause widespread power outages, downed wires and trees and road issues. 

The storm has had limited impact of rain so far that county officials and crews can manage, acting Police Commissioner Stuart Cameron said. However, heavy rain and strong wind create may result is worsened driving conditions and widespread power loss as the winds likely pick up tonight, according to County Executive Steven Bellone.

“You’ve got a storm that is delivering both heavy rains and high winds, which poses significant challenges of course,” Bellone said.

The rain has been heavy enough at points to obscure visibility for drivers, Cameron said. The county saw 23 motor vehicle crashes between midnight and 11:15 a.m. ET.

CNN’s Kelly Christ contributed to this report.

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Here’s how Democrats want to tax billionaires’ capital gains

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Here’s how Democrats want to tax billionaires’ capital gains
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