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    Slaying Dragons for 20 Years

    World of Warcraft was first released two decades ago. You might not have played World of Warcraft, but you probably know of it. The game, which turns 20 this year, inspired an Emmy-winning “South Park” episode and a (not-so-great) movie. Its fans include celebrities like Henry Cavill and Mila Kunis.WoW, as the game is known, was social media before social media. As a teenager, I would log on as my undead mage character mostly to hang out with my friends. What we did together was certainly different than how people use today’s social media; I do not typically hunt giant dragons on Facebook or Instagram. But it was a chance to socialize with the people I had met in the game. It was also, as a 16-year-old, the only space I felt safe being openly gay.The game was truly huge. When it was released 20 years ago, so many people tried to play that the servers struggled for weeks to handle the demand. At its peak, WoW had more than 12 million monthly subscribers worldwide, making it one of the biggest games of its time. More than 100 million people have played it at one point or another.Perhaps most impressively, the game is still going. It got a new expansion, called The War Within, this year. Imagine everything that has changed in the world since 2004, when phones were still dumb and the biggest movie of the year was “Shrek 2.” WoW has endured all of that.My colleagues wrote about World of Warcraft’s 20th anniversary in this lovely story that published today. We’ve included excerpts from their reporting below. I recommend reading the whole piece, which has many more interesting stories that we couldn’t fit in the newsletter.A welcoming space for womenA World of Warcraft fan in costume in 2014.Jae C. Hong/Associated PressWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    What a Matt Gaetz Justice Department Would Mean for Business

    The Trump loyalist supports an “aggressive” antitrust approach and has called for breaking up Big Tech. But can the controversial nominee win Senate approval?Matt Gaetz may be Donald Trump’s most surprising and contentious pick yet to join his cabinet.Mike Blake/ReutersA “disrupter” for the Justice DepartmentMatt Gaetz is known for his outspoken defenses of Donald Trump, numerous scandals and a House ethics investigation. He can now add another distinction: being the president-elect’s pick to be nominee for attorney general.It isn’t clear whether Gaetz, perhaps the most divisive of Trump’s cabinet choices so far, will get Senate confirmation. But if he does, he could keep corporate America on its toes.Trump and his allies see the position of attorney general as especially important, given the president-elect’s numerous legal woes.The Times reports that Trump weighed more traditional candidates, including Jay Clayton, who was S.E.C. chair in his first administration, and Bob Giuffra, a co-chair of the white-shoe law firm Sullivan & Cromwell. But he ultimately chose a loyalist who supported efforts to overturn the results of the 2020 election.Gaetz “is a disrupter,” said Representative Chip Roy, Republican of Texas, praising Trump’s selection. Gaetz, who resigned from his position as representative of Florida last night, repeatedly challenged Republican leaders, picked fights with Democrats and pulled off stunts like trying to barge into the secure chambers for the House Intelligence Committee.Will he go after Trump’s perceived enemies, including in business? In his announcement on social media, Trump said that Gaetz would “dismantle Criminal Organizations” as part of a mission to bring “desperately needed reform at the Department of Justice.” On X, Elon Musk wrote that “the Hammer of Justice is coming.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Iran and Trump Are Front of Mind at Saudi Summit

    Leaders from across the Arab and Muslim world were in Riyadh for a meeting officially convened to discuss the fighting in Gaza and Lebanon.Leaders from across the Arab world gathered on Monday in the capital of Saudi Arabia for a summit that came at a delicate moment for the kingdom, which has signaled a rapprochement with Iran after a violent, decades-long rivalry.The meeting was officially convened to discuss the fighting in Gaza and Lebanon, where Israel’s military is battling Iran-backed militant groups. It takes place amid heightened regional tensions and the prospect of a hawkish Trump administration on Iran.Saudi Arabia had been preparing to recognize Israel, but the wars in Gaza and Lebanon cooled that prospect. Now, the kingdom and its allies find themselves warming to Tehran. Last month, the foreign ministers of the Persian Gulf states met for the first time as a group with their Iranian counterpart. On Sunday, the chief of staff of Saudi Arabia’s armed forces met with his Iranian counterpart in Tehran — further signaling a thaw in relations as Iran considers a response to Israeli attacks on its territory.Saudi Arabia’s powerful crown prince, Mohammed bin Salman, emphasized the relationship in his opening remarks at the summit on Monday.“We call on the international community to compel Israel to respect Iran’s sovereignty and not to attack its territory,” he told the audience in Riyadh, the Saudi capital. Saudi Arabia and Iran have been locked in a long battle for regional dominance, a rivalry shaped by the competing branches of Islam each country embraces. Iran’s network of regional proxies — which includes Hamas in Gaza and Hezbollah in Lebanon — has long been a particular source of concern for Saudi Arabia.While Hamas and Hezbollah have been weakened by the Israeli military’s operations in Gaza and Lebanon, Iran still arms and supports the Houthis in Yemen — a group that has been implicated in attacks on the kingdom.“The issue that we’ve had, and that was the basis for the divergence in our relationship, was Iran’s regional behavior, which from our perspective has not contributed to stability,” the Saudi foreign minister, Prince Faisal bin Farhan, said last week. “We are having very, very clear and honest conversations with the Iranians.”Analysts said that Saudi Arabia could also be using the summit in Riyadh as an opportunity to send a message to the incoming Trump administration. President-elect Donald J. Trump has said he will “stop wars” when he takes office, noted Hasan Alhasan, a senior fellow for Middle East policy at the International Institute for Strategic Studies.“Saudi Arabia could be trying to position itself as an attractive and credible choice for the Trump administration to work with if Trump follows through with his pledge to broker a deal to end the war, especially given the fact that diplomatic efforts led by other regional mediators, notably Qatar and Egypt, have failed to bear fruit,” Mr. Alhasan said. More

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    Trump, Jay Powell and a Potential Fight over the Fed’s Future

    As Trump allies including Elon Musk endorse ending the Federal Reserve’s independence, the central bank’s chair is reportedly ready to go to court to fight back.Jay Powell appears ready to defend Fed independence, and his job.Kent Nishimura/Getty ImagesA battle over the Fed’s future Donald Trump’s threat to exert more say over the Fed or even fire Jay Powell, the chair of the central bank, has alarmed some on Wall Street. But the president-elect’s effort took on added weight in recent days, after Elon Musk endorsed a push to erode the Fed’s independence.The fight shows how the future of the Fed could remain high on the agenda, and how far Musk’s influence — and the role of X as place for announcing policy positions — could extend across government.The Fed has its foes. Senator Mike Lee, Republican of Utah, introduced a bill in June to abolish the central bank, accusing it of being an “economic manipulator that has directly contributed to the financial instability many Americans face today.”Lee said on X that he wants to see the Fed under the president’s control — a view that Musk backed.Powell could turn to the courts to challenge any White House attempt to exert more control, according to The Wall Street Journal’s Nick Timiraos. Trump appointed Powell in 2017 but flirted with removing him shortly afterward. Powell held onto his job, but was ready for a fight if Trump made a move, Timiraos writes:Powell told then-Treasury Secretary Steven Mnuchin that he would fight his removal if sought by the president, according to people familiar with the matter. Trump was upset the Fed was raising interest rates against his wishes.For Powell, the unsavory prospect of a legal showdown — one he might have to pay for out of his own pocket — was imperative to preserve the ability of future Fed chairs to serve without the threat of being removed over a policy dispute.Powell has made it clear that the president doesn’t have the authority to remove a Fed chair. Last week, he said he wouldn’t step down if Trump asked him to do so after the central bank lowered borrowing costs by a quarter point. Removing him, he added, was “not permitted under the law.”A 1977 law gave Congress more oversight of the Fed, but enshrined the institution’s independence on policy.The central bank’s ability to set monetary policy without political influence is a core tenet for markets and the economy. The Fed also has an outsized influence through its freedom to buy and sell securities, like Treasury notes and bonds, as it looks to bring more liquidity to trading.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Democrats Who Won

    We’re covering this year’s successful Democratic campaigns.In a very bad year for their party, some Democrats still figured out how to win tough races.Marcy Kaptur seems to have won a 22nd term in Congress despite representing an Ohio district that has voted for Donald Trump three straight times. Marie Gluesenkamp Perez of Washington State was re-elected in a House district where Trump thumped Kamala Harris. Jared Golden of Maine is leading in a similarly red district. In Senate races, Tammy Baldwin (Wisconsin), Ruben Gallego (Arizona), Jacky Rosen (Nevada) and Elissa Slotkin (Michigan) prevailed or are leading in states that Trump won.How? These Democrats ran on strikingly similar themes — part progressive, part moderate, part conservative. Above all, they avoided talking down to voters and telling them they were wrong to be frustrated about the economy, immigration and post-pandemic disorder. “The fundamental mistake people make is condescension,” Gluesenkamp Perez told my colleague Annie Karni after the election.In today’s newsletter, I’ll focus on three issues that helped these candidates win.1. ImmigrationMany Democrats have been in denial about immigration. Some initially argued that immigration didn’t soar under President Biden. Others claimed Biden’s policies weren’t the cause. Still others dismissed concerns about strained social services and crowded schools as Republican misinformation. (Many Republicans, to be clear, did tell lies about immigrants.)But Biden did spark a huge immigration wave. He encouraged more people to come to the U.S. and loosened entry rules. Sure enough, immigration surged to its highest levels in many decades.Source: Congressional Budget Office | By The New York TimesIf anyone doubted Biden’s role, more proof came this year when he tightened policy, and immigration plummeted.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Revisiting the Harlem Renaissance

    Why the era still resonates a century later.I’m a Brooklyn girl, but I’m low-key obsessed with the Harlem Renaissance. I’ve written a book about the era and taught its literature at universities. I can, and often do, spend whole weekends rereading Langston Hughes and Zora Neale Hurston, listening to Louis Armstrong and Duke Ellington, thumbing through books featuring artwork by Aaron Douglas and Augusta Savage.But what brings me back to the Renaissance again and again is the way it changed this country. When the movement started a century ago, the United States was finally creating our own distinctly original culture — songs and dances, paintings and novels. We were looking less to Europe as a model of creativity. And in this moment — the 1920s, in New York City, both uptown and downtown — we become more wholly American.This year, a team of Times journalists marked the 100th anniversary of the Harlem Renaissance with a series examining its vibrant history.A 1925 breakfast party for Langston Hughes.Schomburg Center for Research in Black Culture, Photographs and Prints Division, The New York Public LibraryWe began with a little-known dinner party that took place on March 21, 1924, an unprecedented interracial gathering that included such luminaries as W.E.B. Du Bois, Carl Van Doren and Alain Locke, as well as up-and-coming writers like Gwendolyn Bennett and Countee Cullen.Even today, in New York, this kind of gathering is rare. The purpose of the dinner was to marry talent to opportunity, connecting writers with editors and critics, and it was a wild success: In the decade after the dinner, Renaissance writers published more than 40 volumes of fiction, nonfiction and poetry, works that transformed the literary landscape of our nation. You can read about the dinner party (and the friendships, feuds and affairs that it launched) in this piece.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Powell, Fed Chair, Will Likely Face Heavy Pressure From Trump

    The chair of the Federal Reserve made clear he would not resign, even under pressure. But pressure from the White House is likely, market watchers say.Jay Powell, the Fed chair, with President Trump during more tranquil times in 2017.Carlos Barria/ReutersPowell pushes back Jay Powell and the Fed may have pulled off the improbable soft landing in taming inflation while not crashing the economy into recession, proving many a Wall Street naysayer wrong.But an even bigger wildcard looms in another Donald Trump presidency — what Trump 2.0 might mean for interest rates, Fed independence and the Fed chair’s own job.That tension burst into the open at the Fed’s news conference on Thursday. The usually dry event had moments of high drama that nearly overshadowed the decision to cut the benchmark lending rate by a quarter percentage point. Powell delivered a forceful “no” when asked by Victoria Guida of Politico if he would consider resigning if Trump asked.He delivered a more emphatic response when pressed by another reporter on whether the president had the legal authority to fire him. “Not permitted under the law,” Powell said.Trump has made waves by saying that a president should have a say in rates policy. And suggestions have circulated from inside the president-elect’s camp that he would sideline Powell if re-elected — something Trump flirted with during his first term after appointing Powell in 2017.The S&P 500 advanced as the news conference wore on, closing at another record, and Treasury bonds also rallied.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    A November Surprise That’s Jostling the Markets

    The dollar, Treasury yields and crypto currencies have fallen, reversing some elements of the so-called Trump trade after an unexpected poll result. In the race’s final hours, a poll reminds the markets of the power of women voters.Caroline Gutman for The New York TimesDown to the wire Investors on Monday appear to be unwinding bets on the so-called Trump trade. In a major reversal, bonds have rallied and the dollar and crypto currencies have dipped in the race’s final hours.One explanation is a surprising new poll that showed Vice President Kamala Harris, powered in part by support from women and older voters, edging ahead in deep-red Iowa — a finding that’s also led to a tightening of Donald Trump’s lead in political prediction markets.Why the change of heart? The highly regarded Ann Selzer/Des Moines Register/Mediacom Iowa poll that was published on Saturday gave Harris a three-point advantage over Trump in the Hawkeye State, a Republican stronghold. “It’s hard for anybody to say they saw this coming,” Selzer said.Some urged caution about the poll. The Economist questioned whether the small sample size in Selzer’s poll made it a good predictor of what might happen in other states. And the Trump campaign pointed to another Iowa poll out this weekend that showed the former president with a 10-point lead over Harris.But Michael McDonald, a politics professor at the University of Florida who runs a vote-tracking site, pointed to similar dynamics in a recent Kansas poll.The Selzer poll has roiled the political betting markets. Following its publication, Trump’s odds of victory fell on platforms including Polymarket, after they had climbed in recent weeks, in tandem with crypto and other elements of the Trump trade.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More