Will New Marijuana Laws Go Up In Smoke?

Dec. 3 (Bloomberg) -- Voters in Colorado and Washington passed measures last month to legalize recreational marijuana use, putting state laws in conflict with federal law. But it's not the first time that's happened. Seventeen states have already legalized medical marijuana, even though federal law says marijuana has no medically acceptable use. So what happens when state and federal laws are in conflict? Under the Supremacy Clause of Article VI of the US Constitution, the federal courts can lock you up for carrying a small bag of marijuana, even if state law says otherwise. But first you have to be prosecuted. And other than some very limited attempts, the feds haven't gone after people who are prescribed marijuana by a doctor. (Source: Bloomberg)

Key Takeaways From Janet Yellen's Comments
54:49 - Federal Reserve Chair Janet Yellen suggested the central bank might delay, but not abandon, planned interest-rate increases in her presentation of the Fed's semi-annual economic report to Congress. Bloomberg's Carl Riccadonna reports on "What'd You Miss?" (Source: Bloomberg)
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