Things to know this week: House Speaker John Boehner will resign from Congress, Pope addresses U.N. world leaders in New York, China will implement new environmental plan in 2017, and the Fed will most likely raise t rates by the end of this year.
1. House Speaker John Boehner will resign from Congress
In an unpredicted move, John Boehner declared this Friday morning his intention to resign from Congress. His decision was influenced by the turmoil existing within the Republican party, and the pressure he was receiving from the ultra-conservatives who would not support any bill that did not defund Planned Parenthood.
“My first job as speaker is to protect the institution,” stated Boehner at a news conference. “It had become clear to me that this prolonged leadership turmoil would do irreparable harm to the institution.”
2. Pope addresses U.N. world leaders in New York
During the Pope’s world tour, he has chosen to visit America for the first time this week. Earlier this week he made several speeches in Washington D.C., and today he spoke to U.N leaders. He addressed his trademark concerns of climate change and and those in economic poverty.
“They are cast off by society, forced to live off what is discarded and suffer unjustly from the consequences of abuse of the environment,” Francis said. “These phenomena are part of today’s widespread and quietly growing ‘culture of waste.’ ”
3. China will implement new environmental plan in 2017
China, one of the leading greenhouse gas emitters, committed to their new environmental plan to curb pollution on Friday. This new plan will put a price on greenhouse has emissions, implement yearly limits, and require companies to buy and sell the rights to pollute. This landmark plan will go into effect in 2017.
4. Fed will most likely raise rates by the end of this year
Federal Reserve chair Janet Yellen announced Thursday at the University of Massachusetts that the Central Bank will most likely be raising their rates by the end of this year, as long as the U.S. economy remains stable and will be able to support employment growth.
