CNBC Daily Open: The battleground for Fed chair might have shifted to renovations from rates

Homo economicus, oregon the "economic man," is an thought that depicts humans arsenic rational beings. This presumption has been utilized to conception models of the system and, much broadly, society.

The large flaw successful that mentation is the supposition of logic successful humans. We know, connected an mundane basis, however flimsy that conception is. We request to support our humor cholesterin successful check, but the crunch of that fried chickenhearted is irresistible.

On Thursday, the U.S. Office of Management and Budget Director Russell Vought accused Federal Reserve Chair Jerome Powell of shooting implicit the fund to renovate the cardinal bank's office by astir $700 million.

In the aforesaid breath, he besides questioned wherefore determination weren't immoderate "rooftop terrace gardens, VIP backstage eating rooms and elevators, h2o features, premium marble, and overmuch more" constructed, arsenic was primitively planned.

To beryllium fair, if each the allegations are existent — that the promised luxury features factored into the budget had been omitted portion costs person busted expectations — that would constitute mismanagement. At this point, however, either the fund oregon the fountain's got to give.

The accusation, much fundamentally, raises the question of whether U.S. President Donald Trump — who has engaged successful multiple tirades against Powell — volition usage this incidental to footwear the Fed chair.

The thought of "homo economicus" was wide criticized successful the precocious 20th century. Through intelligence experiments, economists person proven nary quality is afloat rational. But, really, did they person to spell to specified lengths?

— Dan Mangan contributed to this report.

Norway’s Tesla obsession defies Europe’s Musk backlash

Tesla recorded a 54% year-on-year leap successful caller car income successful Norway successful June, according to data from the Norwegian Road Federation, fueled by a 115.3% yearly summation successful registrations for its revamped Model Y sports inferior vehicle.

The Tesla Model Y appears to beryllium particularly fashionable successful Norway due to the fact that of its competitory terms and the information that it meets section request for ample luggage space, high-ground clearance, all-wheel thrust and a tow hitch, said Christina Bu, caput wide of the Norwegian EV Association.

— Sam Meredith