You don’t have to be a fashion aficionado to appreciate the drama in “House of Gucci.” In fact, most of the film isn’t about fashion at all. It’s about the infamous Italian fashion empire and the Gucci family as it unraveled.
The film is based on a book by Sarah Gay Forden of the same name and tells the true story of the power struggle that rocked the Gucci family from the 1970s to the mid-1990s. Patrizia Reggiani (Lady Gaga) had a passionate yet turbulent marriage to Maurizio Gucci (Adam Driver) before he eventually divorced her. Reggiani was ultimately tried and convicted of orchestrating her ex-husband’s murder.
Driver tells NBC audiences might be surprised to learn just how much drama was going on behind the scenes in the Gucci family.
“Percentages and stocks and board meetings, and back stabbing and contracts signed,” Driver said. “It’s really rich. I think what is relatable and what might be surprising…you get the sense that if they just had better communication that this all could have been avoided.”
The list of Academy Award nominees and winners starring in this film is a mile long including Lady Gaga, Adam Driver, Jared Leto, Jeremy Irons and Al Pacino. Add to that the highly anticipated Gucci looks worn by Lady Gaga and Ridley Scott’s rich directing style and you have a recipe for box office gold.
Jared Leto is virtually unrecognizable as Paolo Gucci, Maurizio’s well-meaning but somewhat bafoonish cousin. Leto leans into the comedy in his character, which gives the movie some welcome moments of levity.
“I felt that it was important to bring out as much humor as we could,” Leto tells NBC. “So we did lots of improvisation, lots of ad-libbing. And that created a lot of spontaneity.”
Driver confirmed he and Lady Gaga also included a lot of improv in their scenes.
“With this group of actors, everyone was so playful, so prepared and so available,” Driver said. “Everyone was at the tip of their feet.”
Gaga reportedly stayed in character for 9 months while working on this film. And almost the entire cast puts on their best Italian accent to strut their stuff across the big screen.
“House of Gucci” opens in theaters Nov. 24.
Jojo Stone Ocean Episode 13 Release Date
Episode 1-12 of Jojo’s Bizarre Adventure Part 6: Stone Ocean dropped today, and fans are already ready for more. However, figuring out when the release date of Stone Ocean episode 13 will be isn’t easy. Previous Jojo seasons got weekly releases, but we’re not even sure how long the part 6 will be with this one coming in batches. We’ll take a look at when to expect Jojo Stone Ocean episode 13’s release date below.
When will episode 13 of Jojo Stone Ocean be released?
The last few seasons of Jojo have released one episode per week (with one or two breaks per season). For example, Jojo’s Bizarre Adventure: Golden Wind aired from October 13, 2018, to July 28, 2019. However, it’s hard to predict when episode 13 of Stone Ocean will release since Netflix dropped the first 12 episodes in one big batch. Netflix hasn’t given any hints, and many fans are questioning the wisdom of moving away from weekly releases.
If we had to guess, we’ll see Jojo Stone Ocean episodes 13-24 in February-March 2022. Each episode is getting dubbed before its premiere, which takes time, and we’d guess there’ll be at least a week for each episode between batch releases. So, 12 weeks from now is February 23, which is a reasonable estimate for the release date for the next batch of Jojo Stone Ocean episodes.
However, Netflix could release new episodes much sooner or later than anticipated. Given its silence on the topic, the answer could mean we have to wait for more Jojo until even later in 2022. Hopefully, that’s not the case, but it is a possibility we need to prepare ourselves for.
As of episode 12, we’ve made our way through five and a half volumes out of 17 of the Stone Ocean manga. However, we should see things slow down as we move into the meat of the story with the next batch of episodes.
Biden picks Jerome Powell to lead the Fed for a second term as the U.S. battles Covid and inflation
Jerome Powell, who guided the Federal Reserve and the nation’s economy through the staggering and sudden Covid-19 recession by implementing unprecedented monetary stimulus, is being nominated for a second term as chairman of the U.S. central bank.
President Joe Biden made the announcement Monday morning following weeks of speculation that a push from progressives might see Fed Governor Lael Brainard get the spot.
Acknowledging the political pressure he faced to nominate a more progressive Democrat than the Republican Powell, Biden said Monday afternoon he settled on Powell because the current economic circumstances present “enormous potential and enormous uncertainty” and require “stability and independence.”
Brainard was designated as vice chair of the board of governors; she had been widely expected to get a separate vice chair for supervision post, which oversees the nation’s banking system. As vice chair for monetary policy, she would succeed Richard Clarida, whose term expires Jan. 31, 2022, and will oversee a wider swath of policy decisions.
Read more: Who is Lael Brainard?
“As I’ve said before, we can’t just return to where we were before the pandemic, we need to build our economy back better, and I’m confident that Chair Powell and Dr. Brainard’s focus on keeping inflation low, prices stable, and delivering full employment will make our economy stronger than ever before,” Biden said in an earlier statement.
The nominations next head to the Senate for confirmation.
In making the decision, Biden praised the Powell Fed for its “decisive” action in the early days of the pandemic.
The Fed rolled out an unprecedented array of lending programs while also cutting interest rates back to near zero and instituting a monthly bond-buying program that would increase the central bank’s holdings of Treasurys and mortgage-backed securities by more than $4 trillion.
“Chair Powell has provided steady leadership during an unprecedently challenging period, including the biggest economic downturn in modern history and attacks on the independence of the Federal Reserve,” a White House statement said. “During that time, Lael Brainard – one of our country’s leading macroeconomists – has played a key leadership role at the Federal Reserve, working with Powell to help power our country’s robust economic recovery.”
The announcement coincided with a boost to the stock market while government bond yields were higher across the board.
Markets are watching closely the pace the Fed will follow as it unwinds its massive policy support.
Officials already have indicated they will start paring back the bond purchases, with reductions of some $15 billion per month that would see the program likely conclude in late spring or early summer 2022.
Interest rate hikes are another matter.
Most Fed officials thus far have said they won’t consider raising rates at least until the bond buying taper winds down. However, markets have been looking for a faster timeline for rates, with the initial hike now priced in for June 2022.
“The president chose the status quo for monetary policy and financial regulation,” said Mark Zandi, chief economist at Moody’s Analytics. “The Fed’s going to slowly but steadily take its foot off the monetary accelerator.”
Treasury Secretary Janet Yellen, who also was Powell’s immediate predecessor at the Fed’s helm, lauded Powell for the way he handled the job in the face of the pandemic crisis, which brought the U.S. not only its steepest but also its shortest recession.
“Over the past few years, Chair Powell has provided strong leadership at the Federal Reserve to effectively meet and address unexpected economic and financial challenges, and I am pleased our economy will continue to benefit from his stewardship,” Yellen said.
Controversy in recent days
Though Powell carried the day, it was not without controversy.
The Fed has been under fire lately following an ethics scandal in which multiple officials engaged in trading stocks at a time when the institution was implementing policies aimed at boosting markets. Powell disclosed that he owned municipal bonds, which the Fed also was buying, and he also bought and sold funds tied to the broad stock market indexes.
At the same time, the Fed has been hit with inflation running faster than it had anticipated – in fact, at the sharpest pace in 30 years. Official Fed policy since September 2020 has been to let inflation run somewhat hotter than the standard 2% target if it allows for full and inclusive employment, but prices have been rising well above that level.
Powell has held to the line that inflation will cool off once factors associated with the pandemic return to normal. But the recent readings have raised questions about the so-called average inflation targeting that signaled a historic turn in central bank monetary policy.
The inflation also has come with a rapid economic recovery and a decline in the unemployment rate from a pandemic peak of 14.8% to its current 4.6%.
Presented later Monday afternoon in a joint appearance with Biden, both Powell and Brainard stressed the importance of controlling inflation.
“We know that high inflation takes a toll on families, especially those less able to meet the higher costs of essentials like food, housing and transportation,” Powell said. “So we use our tools both to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched.”
Brainard added that she is “committed to putting working Americans at the center of my work at the Federal Reserve. This means getting inflation down at a time when people are focused on their jobs and how far their paychecks will go.”
Brainard emerged as a key force in the race over who would carry the Fed through the next four years. She has taken point on several issues important to the Biden administration, particularly the need for the Fed to brace the banking system against disruptive climate change events.
A former undersecretary of the Treasury during the Obama administration, Brainard also has been a strong proponent of a digital dollar as a means to open the financial system to the unbanked.
The White House statement stressed the importance of progressive for the Fed in the years to come.
Biden said that Powell and Brainard “also share my deep belief that urgent action is needed to address the economic risks posed by climate change, and stay ahead of emerging risks in our financial system.”
“Fundamentally, if we want to continue to build on the economic success of this year we need stability and independence at the Federal Reserve – and I have full confidence after their trial by fire over the last 20 months that Chair Powell and Dr. Brainard will provide the strong leadership our country needs,” he added.
Biden still has more work to do on the Fed: There is one vacant position on the board of governors, while the Clarida vacancy will need to be filled come January. He also will need to name a vice chair for supervision, a post the departing Randal Quarles had held until his term expired in October. The White House indicated Monday that those moves will be announced in early December.
The initial congressional reaction to Monday’s news was positive.
Sen. Sherrod Brown (D-Ohio), who chairs the pivotal Senate Banking Committee that will first hear the nominations, said, “I look forward to working with Powell to stand up to Wall Street and stand up for workers, so that they share in the prosperity they create.”
Pennsylvania Republican Patrick Toomey said he will support Powell though he noted he has had disagreements with central bank policies.
The news is likely a disappointment to progressives including Sen.
Biden recently met with Warren to discuss the appointments, according to a source familiar with the matter.
Two other Democratic senators, Sheldon Whitehouse of Rhode Island and Jeff Merkley of Oregon, also.
Battling back from Covid
President Donald Trump appointed Powell to the position in 2018 in somewhat of a surprise. Trump chose to pass over then-Chair Janet Yellen, an unusual move in that Fed leaders are rarely removed after just one term. Former President Barack Obama initially appointed Powell to a 14-year term as governor in 2014.
Though Trump nominated Powell, he later fired withering criticism at the Fed chief when the central bank raised interest rates seven times in 2017 and 2018. The former president went as far as to call the Fed policymakers “boneheads” for trying to normalize policy as the economy recovered.
As for Brainard, she is now widely expected to be named vice chair of supervision, a key Fed post to oversee the nation’s banking system.
The Fed is empowered by Congress to fulfill two mandates: Maximize U.S. employment and keep inflation stable. Its leaders, known as governors, are nominated by the president and vote on how to adjust interest rates, regulate the nation’s largest banks and monitor the health of the economy.
To combat the spike in unemployment and recession that began in the spring of 2020, the central bank slashed interest rates and began buying some $120 billion in Treasury bonds and mortgage-backed securities every month. It also instituted a variety of lending programs aimed at keeping fixed income markets functioning after they endured significant stress at the beginning of the pandemic.
Economists credit that quick and sizable response for stabilizing financial markets and later repressing long-term interest rates. Lower interest rates make it easier for corporations to take on loans to build new factories, or for individuals to buy homes or cars.
“Under Powell the Fed has placed more emphasis on having the economy operate at maximum employment,” Mike Feroli, chief U.S. economist at JPMorgan, said via email.
“This is a goal progressive economists have long advocated and a goal which is presumably consistent with Biden’s agenda.”
Treasury Secretary Janet Yellen, one of Biden’s top economic advisors and a counselor on his Fed nominations, told CNBC earlier this month that she is happy with the Fed chief’s work. Yellen was the first woman to serve as the Fed’s chair and is the country’s first female Treasury secretary.
“I talked to him about candidates and advised him to pick somebody who is experienced and credible,” Yellen said. “I think that Chair Powell has certainly done a good job.”
Powell is also popular on Capitol Hill, where lawmakers on both sides of the aisle have praised his leadership and amiability since he took over for Yellen in February 2018.
Trump ‘stoked’ crowd on January 6 and should be held accountable, federal judge says
“There may be others who bear greater responsibility and should be held accountable,” Jackson said to Peterson. “But this is not their day in court. It’s yours.”
While Jackson stopped short of laying full responsibility at the feet of those who spoke at the January 6 rally, she and other judges have lambasted Trump and even suggested he may face legal consequences.
Jackson also said Peterson should be held accountable, noting that he is an adult and responsible for his own actions on January 6. “
You did receive a lot of overwhelming inaccurate information on social media,” Jackson said to Peterson, “but you had a choice to reject the lies and not to join the antidemocratic call for martial law.”
“No one was swept away to the Capitol. No one was carried,” the judge added.
Peterson was sentenced to 30 days in jail — twice the jail time prosecutors had asked for — and was ordered to pay $500 for damage done to the Capitol building during the riot. Jackson pointed to concerning posts on Peterson’s social media accounts before and after the riot, including a comment where he said he “had fun lol” on January 6, as one of the main reasons she believed he deserved a jail sentence.
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