Saturday's economy stories
Fox News host: the White House is lying about Russia
"'Lie after lie after lie': Fox News's Shepard Smith has a Cronkite moment on Russia," by WashPost's Aaron Blake:Shep, to Fox News Sunday host Chris Wallace: "It's pilin' up. ... We're still not clean on this, Chris. If there's nothing there — and that's what they tell us: They tell us there's nothing to this and nothing came of it, there's a nothingburger, it wasn't even memorable, didn't write it down, didn't tell you about it, because it wasn't anything so I didn't even remember it — with a Russian interpreter in the room at Trump Tower?""If all of that, why all these lies? Why is it lie after lie after lie? ... The deception, Chris, is mind-boggling. And there are still people who are out there who believe we're making it up. And one day they're gonna realize we're not and look around and go: Where are we, and why are we getting told all these lies?"Chris Wallace: Trump staff should be summoned and told, "from the first time you had beef stroganoff to the last shot of Stolichnaya, you put down every contact with a Russian you know about and let's get it out. It may be bad, it may be embarrassing, but we can't keep having this new information dribble out."
"Come clean! Tell it now! Let the chips fall where they may. And if, in fact, there was no crime committed, you'll survive it. It'll be embarrassing, but it'll be better than this."New Yorker Editor David Remnick in next week's issue, "Trump Family Values": "Social-media wags delighted in reviving the Trump-as-Corleone family meme and compared Donald, Jr., to Fredo, the most hapless of the Corleone progeny. This was unfair to Fredo."

The political minefield of AI regulation
Congress is turning its attention to artificial intelligence, as evidenced by Senator Maria Cantwell's proposed legislation to create an AI advisory committee, which "would serve as a first step in establishing federal policy in an increasingly important sphere," as as Axios' David McCabe puts it.
The news has some AI advocates like Kriti Sharma of Sage Group excited that the federal government can be an edifying force in the development of AI, but there's ample reason to be skeptical of this idea.

St. Louis' minimum wage is decreasing by 22%
Correction: An earlier version of this post mistakenly stated that the minimum wage is set to decline by 17%, rather than 22%.
Minimum wages are generally marching higher in states and cities across the U.S., but the wage floor in St. Louis is set to fall from $10 to $7.80 later this summer. That's after a Republican-controlled state legislature voted to make illegal a city-wide minimum wage law that went into effect 10 weeks ago.
The St. Louis Post-Dispatch chats with employers in the city, most of whom say they will cut the pay of workers they had raised just 10 weeks before. But some, even those who opposed the higher minimum initially, can't bring themselves to do it.
Why it's unusual: Few ideas poll better than raising the minimum wage, and the issue has had particular success in state and city legislatures and the voting booth in recent years. Watch to see if Missouri is the movement's high-water market.



