One final note on the State of the Union.
The president mentioned a bunch of companies last night. Most of them are big enough they don't need a presidental shoutout.
But then he said this:
"Nick Chute is here today with his boss, John Serano. John's an owner of Punch Pizza in Minneapolis, and Nick helps make the dough. And now he's making more of it."
We had to call them up, right?
We got ahold of John Puckett. He's a co-owner of Punch Pizza along with John Serrano. I asked him what happened when the White House called:
"We really thought it was a practical joke at first... It's been incredible, [especially] on social media. The nice thing is, it's warming up above -20 today in Minnesota, so we'll probably see it more today than we did last night. I think everyone was still hunkered down, watching the State of the Union.
Turns out, tragically enough, the president didn't even get to taste the pizza:
"You know, it doesn't transport that well from St. Paul to Washington. Ours is wood fired Neopolitan pizza and it's best when you get it right out of the oven."
The suit is the first direct challenge to the FISA Amendments Act, the statute the government relies on to collect international communications in bulk.
Two Norwegian politicians say Edward Snowden has "contributed to a more stable and peaceful world order" by exposing U.S. surveillance practices. The Nobel Peace Prize nominations will be pared down to a short list in March and May.
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What the Fed does on interest rates matters not just to Americans, but the entire global economy -- and that's because the dollar continues to tighten its grip as the world's reserve currency.Foreign investors holding trillions in securities and dollar assets have an incentive to the keep the currency afloat — even when the value of the dollar declines.
It's what Cornell economics professor Eswar Prasad calls the "Dollar Trap."
"The financial crisis had its origins in the U.S., the federal reserve has been pumping huge amounts of dollars into the global financial system, which ought to cheapen its value." Prasad says. "[But] In times of turmoil, the world wants safety, and the U.S. is still seen as the safest place to invest."
So what happens if the world loses faith in the dollar?
Prasad examined several tipping-point scenarios. He found this could result in turmoil for the U.S. financial market, and in turn, spread to the rest of the world.
"The dollar's value is stronger than it ought to be. That means fewer jobs, less exports, so it's not all together a good thing for the U.S.," he says.
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