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Former President Donald Trump took part in a CNN event for the first time since 2016. During a televised town hall, Trump falsely claimed that the 2020 presidential election was "rigged" and said he will pardon Jan. 6 rioters if he is re-elected in 2024. More: - When asked about Wednesday's civil verdict against him for the alleged sexual assault of writer E Jean Carroll, Trump said he has never met Carroll and called her claim "fake news."
- On Wednesday, a federal jury in Manhattan found Trump guilty of battery and defamation and ordered him to pay $5M to Carroll.
- Trump did not say which side he supports in the Russo-Ukrainian war and declined to call Russian President Vladimir Putin a war criminal when asked.
- He took credit for the overturning of Roe v. Wade by the Supreme Court last year but didn't give a clear answer when asked if he supports a national abortion ban.
- Trump did not commit to accepting the results of the 2024 election, saying he would only do so if he felt "it's an honest election."
- The event, which was moderated by CNN's Kaitlan Collins, featured an audience of Republicans and independents.
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What the numbers say: New unemployment claims hit 264,000 last week, an 18-month high. Relevance: Last week's claims were 22,000 higher than in the preceding week and 19,000 above analysts' expectations. Meanwhile, the number of continuing claims increased by 12,000 to 1.813 million in the week ending on April 29. These figures indicate that layoffs are increasing and that people who have lost their jobs are struggling to find new positions. What's next: A continued increase in unemployment claims over the next few weeks would indicate that the superhot U.S. labor market is cooling down after the unemployment rate hit 3.4% in April, a multi-decade low and down from 3.5% in March. | | | |
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The Bank of England (BoE) no longer predicts that the U.K. will enter a recession later this year. The BoE's Monetary Policy Committee (MPC) voted 7-2 in favor of raising the main bank rate from 4.25% to 4.5%, its highest level since October 2008. More: - The BoE expects U.K. GDP to remain flat over the first half of 2023 before rising by 0.9% in the middle of 2024 and 0.7% by mid-2025.
- The British headline consumer price index (CPI) was up 10.1% annually in March, down from 10.4% in February.
- Core CPI ― which excludes food, energy, alcohol, and tobacco prices ― increased 5.7% in the 12 months to March, unchanged from a month earlier.
- The MPC projects that headline inflation will fall to 5.1% by the end of 2023, up from a previous estimate of 3.9%.
- Policymakers said that wage and price increases may take "longer to unwind than they did to emerge."
Zoom Out: - Unlike the Federal Reserve and the European Central Bank, both of which also raised interest rates by 25-basis-points this month, the BoE struck a hawkish tone by saying that it could raise interest rates again if there is "evidence of more persistent [inflationary] pressures."
- Vivek Paul of the BlackRock Investment Institute said that central banks now face "sharper trade-offs between maintaining growth and controlling inflation."
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| 4 | | 
GOOD NEWS: A Canadian family turned an old elementary school building into a drive-through for locally grown vegetables. The Nel family established the Let-Us Grow Hydroponics farming program to address a shortage of fresh produce in Hudson Bay, Saskatchewan. More: - The farm started when June and Jan Nel, who immigrated to Canada from South Africa, responded to a town call seeking proposals for the schoolhouse, which was facing demolition.
- They began planting vegetables in one classroom in 2019 and later expanded their growing operations to other parts of the school.
- The Nels want to build hydroponic farms, which use far less water than outdoor farms, in other towns.
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| 5 | | 
A poll shows Turkish President Recep Tayyip Erdoğan more than five points behind his main rival days before the May 14 election. The poll indicates that Kemal Kilicdaroglu has the support of 49.3% of the electorate, versus 43.7% for Erdoğan. More: - Kilicdaroglu is an economist and the leader of the opposition Republican People's Party (CHP).
- He is representing a six-party opposition coalition in the presidential race.
- The poll was conducted on May 6-7, before another candidate, Muharrem Ince, withdrew from the race.
- Ince, who had 2.2% of support in the poll, did not back another candidate.
- If no candidate wins over 50% of the vote there will be a run-off between the top two candidates on May 28.
Zoom Out: - Erdoğan's Justice and Development Party has governed Turkey since 2002, with Erdoğan leading the country as Prime Minister or President for a majority of that period.
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| 6 | | Job satisfaction in the U.S. hit a 36-year high in 2022, according to a survey by the Conference Board. The business research organization found that 62.3% of American workers were satisfied with their jobs, compared to 60.2% in 2021 and 56.8% in 2020. More: - The data is based on a November survey of 1,680 workers, who were polled on 26 aspects of work.
- Workers who switched jobs during the pandemic and those working hybrid roles that include both in-person and remote work reported higher job satisfaction.
- Men reported higher job satisfaction than women across the board, particularly in relation to leave policies, bonuses, promotions, communications at work, and corporate culture.
- Many people reported being satisfied with their commutes, their colleagues, the physical environment they work in, and job security.
Zoom Out: - Conference Board projects that the U.S. will enter a short recession later this year and that the unemployment rate will increase from the current rate of 3.4% to 4.4% by Q1 2024.
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- Treasury Secretary Janet Yellen threw cold water on a proposal to increase the debt ceiling. She said it would be "legally questionable" if President Biden were to invoke the 14th Amendment to challenge the constitutionality of the debt limit.
- Zach Whitecloud, a Canadian NHL player of Indigenous descent, forgave an ESPN anchor who made an insensitive joke about his name. The 26-year-old, who is the first member of the Sioux Valley Dakota Nation to play in the NHL, said he was proud to carry his grandfather's name and to represent First Nations peoples in professional hockey.
- Blogger Heather Armstrong, who gained fame after writing about motherhood on her popular Dooce.com website for nearly two decades, passed away at the age of 47.
- The Barcelona women's soccer team ended a 62-game winning streak after drawing 1-1 against Sevilla.
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| 💡 | | ART OF THE DAY 
Woman Reading a Book with an Orange by Georgy Kurasov. Date unknown. | | | |
Term of the Day Real gross domestic product: Real GDP is calculated by subtracting the effect of inflation from the nominal GDP. Question of the Week What's the most bizarre work-related dream you've ever had? Join the conversation Today's Knowledge Hub Is Brought To You By |
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 | Writer | | Dr. Daniel Smith is an Inside writer with a Ph.D. in Political Science from the University of Cambridge. Follow him on Twitter @DJS12321 or email him at Daniel@inside.com. | | This newsletter was edited by Eduardo Garcia | |
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