Key Patriot Act Provisions Expire
June 01, 2015
Three provisions of the Patriot Act expired at 12:01 this morning. These authorities relate to the monitoring and seizure of phone, hotel, and banking records of suspected terrorists, as well as roving wiretaps.
• Three provisions of the Patriot Act expired at 12:01 this morning. These authorities relate to the monitoring and seizure of phone, hotel, and banking records of suspected terrorists, as well as roving wiretaps. Late Sunday, the Senate advanced a House Bill that would extend these provisions, while curtailing some domestic spy programs. However, due to procedural obstacles raised by Sen. Rand Paul (R-KY), the Senate was unable to prevent the expiration of these provisions. The Senate will reconvene later today to continue amending this bill, with a new version expected to be sent to President Obama by mid-week. [The Hill][NYT][BGOV]
Economic Indicators & News
• US consumer spending was unexpectedly flat in April. Consumer income increased 0.4%, more than projected, as households scaled back on automobile purchases and utilities. Consumers also continued to save more, with the saving rate increasing to 5.6%. [CNBC]
• The British economy grew at increasing rate. After official figures revealed only 0.3% growth in first quarter, the Confederation of British Industry reported that business activity has increased sharply in the last three months. The services sector in particular recorded its fastest growth since February 2006.[BBC]
• Conflict in Ukraine hit the nation’s economy harder than expected. The IMF reported that Ukraine’s economy is likely to shrink by 9% in 2015, with inflation rates reaching 46% by end of the year. [BBC]