Daily dozen | Forbes: US Dollar Peaks; Bitcoin Blow; Jetson’s Dream Delay

The Biden administration acknowledged it is conducting a review of the damage caused by former President Donald Trump’s storage of classified documents at Mar-A-Lago that is separate from the Justice Department investigation. The Department of Education shared new details about how student loan relief will work. And we look at how race has been largely left out of the “quiet quit” conversation so far.

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In the news today

• The US dollar hit a 20-year high on Monday, following Federal Reserve Chairman Jerome Powell’s comments that the central bank will continue to tackle inflation “vigorously,” apparently by continuing to raise interest rates. A stronger dollar could help ease inflation as imports of goods and services become cheaper, but could also deal a blow to the stock market as 30% of earnings earned by S&P 500 companies originate outside the US
• Bitcoin fell below $20,000 Saturday, traded at its lowest level in over a month. The decline came after stocks sold off sharply on Friday as investors pulled back from risky assets amid renewed concerns that the Federal Reserve’s efforts to fight inflation could fuel an economic slowdown. A “very concerned” Sen. Elizabeth Warren (D-Mass.) said the Fed’s move will “tip the economy into recession.”

Top take-aways

The Office of the Director of National Intelligence is working with the Justice Department to find out about the trove of classified documents that former President Donald Trump brought to Mar-a-Lago posed some threats to national security. This is the first acknowledgment by the Biden administration that it is conducting a review along with the Justice Department investigation.

The U.S. Department of Transportation declared a regional emergency for Illinois, Indiana, Michigan and Wisconsin after a fire shut down the BP oil refinery in Whiting, Ind., the largest in the Midwest and No. 6 in the nation. There has been no impact on gas prices so far, and analysts are warning against consumers “panic” buy gas.

A new digital cash service using the same technology as Zelle and Venmo will cut Visa and Mastercard fees. Sionic is partnering with Google Cloud Services and MX, a company that connects fintechs to users’ bank accounts, to launch pay-for-bank payments. The product allows merchants to cut out card authorization fees, but success depends on whether consumers will switch from credit or debit cards.

When President Joe Biden unveiled an unprecedented executive action providing up to $20,000 in federal student forgiveness, key details were unclear. Here’s an overview of the latest insights from the US Department of Education.

Electric vertical takeoff and landing vehicles, known as eVTOLs, are all the rage among those looking for new sustainable, Jetsons-like ways to travel. But while the current version of eVTOLs – primarily helicopters for the wealthy – may have better economics, there are bigger challenges ahead.

The PGA Tour ended its turbulent season when it crowned Rory McIllroy The $18 million FedEx Cup champion. But the celebration may not last long. Rumors abound that LIV Golf, the upstart Saudi-backed tour, will announce more poaching ahead of its September 2 Boston event. Here’s our list of the most likely to jump. More: An in-depth look at pro golfer Scottie Scheffler.

The The White House scored the most popular tweet week with a snarky thread clapping back at congressional Republicans who criticized President Joe Biden’s student loan forgiveness plan despite forgiving corporate pandemic loans, a rare viral win for a major institutional account on the platform.

Today’s must-read

NASA is heading back to the moon, and here are innovators who want to help get there

The Artemis mission is to establish permanent human settlements on the Moon and, if all goes well, Mars.

In case you missed it

“Quit quietly” seems generational—enthusiasts seem to be mostly millennial and Gen-Z professionals. But conversations about this new term are noticeably raceless. Take a look at the viral trend relevance to black workerswho often experience a racial promotion and pay gap and say they have to be “twice as good” as their white colleagues.

Tips you can trust

• Contract, freelance and temp workers are considered the front line in the gig economy. However, there is a growing trend of recent college graduates and highly experienced, well-qualified professionals stuck in a cycle of freelance jobs and unable to find full-time employment. This can affect the mental health, emotional well-being and finances of millions of independent workers.

• Want to make it yourself indispensable for future employers? It’s not just technical skills you need to cultivate. As the pace of change continues to accelerate, the skills you need to thrive in the workplace are changing. Here are the 10 most in-demand skills for the next 10 years.

Must see video

Unusual indicators of a recession you may not have heard of

As we enter the final weeks of summer, inflation, supply chain delays and higher interest rates continue. While the US economy is not officially considered to be in a recession, there are a few non-traditional indicators to watch for warning signs.

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