Morning bird: Trump has a list of replacements for Fed chief Powell. Long holidays of Czech children cost parents tens of thousands
Fed awaits major changes with the change of chairman
Finance Minister Scott Bessent confirmed the names of five candidates on Monday who could replace Jerome Powell as chairman of the influential Federal Reserve System (aka Fed) next year. Donald Trump expects the decision on Powell's successor to be made by the end of this year.
The following five individuals are under consideration: Christopher Waller and Michelle Bowman, former Fed governor Kevin Warsh, White House economic advisor Kevin Hassett and Rick Rieder, chief executive of BlackRock asset manager. These names suggest that regardless of who is chosen, major changes are likely to occur in the Federal Reserve System next year. Moreover, Powell's defiance towards the president led to a number of conflicts, reported AP.
Czechs pay tens of thousands for children's holidays, in Germany they can deduct them from taxes
"Every day off that a child gets, parents have to deal with. A total of twenty to 25 days of vacation throughout the year is available to most parents, while children are at home about 65 days after weekends are deducted. It is even more when director's days off are added. Professional child care costs on average 189 crowns per hour in the CR, and up to 239 crowns in Prague," pointed out in its analysis the company KODAP according to ČTK.
Another commonly used alternative are camps, their price then ranges between 900 CZK and 3000 CZK per day. These inevitable costs for parents with young children can be deducted from taxes in neighboring Germany, for example, but such support is completely lacking in the Czech Republic.
