Mike Johnson says he will not bring the House back in session until the government reopens

Chipotle stock craters as company says young people without jobs can't afford their food anymore Chipotle's menu innovation was not enough to lure in customers who are being pickier during the third quarter.

Chipotle stock craters as company says young people without jobs can't afford their food anymore

The day after a tough workout where everything hurts. I kind of like it.

Powell: "If you listen to the reports of big public consumer-facing companies, many of them are saying there's a bifurcated economy and that consumers on the lower end are struggling and buying less and shifting to lower cost products, but that at the top people are spending."

Powell: "There are 2 things affecting the job market. One of them is just a dramatic reduction in the supply of new workers. That's declining labor force participation, which is a cyclical thing, and then there's declining immigration which is just a big policy change."

BREAKING: A divided Federal Reserve cut interest rates by a quarter of a percentage point, acknowledging the limitations in data due to the federal government shutdown reut.rs/3Jbs9E5

Paramount begins laying off 2,000 people months after Skydance merger David Ellison, whose Skydance bought the media conglomerate this summer for $8 billion, announces move “addressing redundancies.”

Here's what we know about how the Paramount layoffs are affecting CBS News:

• The South Africa bureau is closing,
• Mornings Plus and Evening News Plus, streaming-only extensions of the morning and nighttime broadcasts, are ending.

www.washingtonpost.com/business/202...

A federal judge has denied OpenAI's request to dismiss a copyright suit from George R. R. Martin, Ta-Nehisi Coates, John Grisham and other authors.

The judge says that text generated by ChatGPT may infringe their copyrights.

Powell: "Job gains have slowed significantly since earlier in the year. A good part of the slowing likely reflects a decline in the growth of the labor force due to lower immigration and labor force participation, though labor demand has clearly softened as well."

Powell: "A further reduction in the policy rate at the December meeting is not a foregone conclusion."

Powell: "In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside -- a challenging situation. There is no risk-free path for policy as we navigate this tension between our employment and inflation goals."

Powell has repeatedly insisted that people shouldn't expect another rate cut in December

Powell: "Higher tariffs are pushing up prices in some categories of goods, resulting in higher overall inflation."

The Dow dropped after Powell said a December rate cut is not a foregone conclusion.

Mike Johnson: "If the president was a king, then the government would be open." (Trump yesterday said he no longer has a need for Congress.)

Like Zohran Kwame Mamdani said, “Politics is not something you have, it’s something that you do.” Good morning.

"You don't choose the times you live in, but you do choose who you want to be, and you do choose how you want to think." –

Grace Lee Boggs

“In Tuesday’s remarks, Soyinka reaffirmed that he no longer has his green card. “Unfortunately, when I was looking at my green card, it fell between the fingers of a pair of scissors, and it got cut into a couple of pieces.”

RAJU: Given how dire things are for so many Americans right now, how do you justify the administration giving this big massive bailout to Argentina?

MIKE JOHNSON: Look, we give the execution of foreign policy to the executive branch. We trust the president. Let's talk about the government shutdown

US mortgage rates fell to a fresh one-year low, falling 7 basis points to 6.3% in the week ended Oct. 24.

Lisa McClain: "Don't let the facts get in the way of the good story"

Q: Trump floated running for president in 2028. Are you comfortable with those comments?

MIKE JOHNSON: Well, there is the 22nd Amendment. I think the president knows about the restrictions of the Constitution, as much as so many Americans lament that. I don't see a way to amend the Constitution.

OpenAI Restructures to Become a More Traditional For-Profit Company

before people / the press treat this as a fait accompli, let's wait to see what Bonta & Jennings say. pretty telling there's no mention of their explicit sign off in these early reports ... www.nytimes.com/2025/10/28/t...

Mike Johnson on SNAP benefits ending Saturday: "The White House has all the pain dials turned back to just a 0 or a 1 as best they can, but when you're out or resources they go all the way up. And it's out of their hands, it's out of our hands."

BREAKING: The percent of subprime auto loans that are 60 days or more overdue on their payments has hit an all-time high of 6.4%, per Fitch.

Q: What's your reaction to yesterday's purge of senior ICE officials? When is it time for Congress to do some oversight?

MIKE JOHNSON: I don't know any of the details of that yet. I just heard about that, literally I was walking in.

Q: Should the White House now be able to find some funding for the SNAP program since they've done it for all those other ones?

MIKE JOHNSON: They certainly tried

Corporate buzzword masterclass

It is 8:27 a.m. on a Tuesday. National Guard troops are out raking leaves by the National Cathedral.

Washington, D.C., in 2025.

Damn.

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