DIRS.INFO The most relevant business & tech news

[1/3] An employee hiring sign is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. So far, he said at a Boston Fed labor market conference earlier this month, measures like the employment-to-population ratio largely have not behaved differently for key racial groups, for women versus men, or among those with different education levels. Research has since tended to suggest that there may be untapped pools of labor that only become available when the job market is tight - an argument for keeping monetary policy looser than not. The labor market recovery so far has been "remarkably equitable," she said. Pandemic-era programs threw a safety net under many families, and the tight job market that has since developed helped many get a foothold, Rouse said.

Persons: Elizabeth Frantz, William M, Rodgers III, Rodgers, Torsten Slok, Jerome Powell, quartile, Chris Wheat, Cecilia Rouse, Joe Biden, Rouse, what's, we're, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, Rights, Institute for Economic Equity, St, Louis Federal Reserve, Boston Fed, Blacks, Apollo Global Management, JPMorgan Chase Institute, Workers, Reuters Graphics, of Economic Advisers, Brookings Institution, Thomson Locations: Arlington , Virginia, U.S, joblessness

☆ Exclusive: Biden taps Jackson for economic adviser, signals focus on education
▼ + stars: | 2023-08-11 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

U.S. President Joe Biden delivers remarks on veterans' care at George E. Wahlen Department of Veterans Affairs Medical Center in Salt Lake City, Utah, U.S. August 10, 2023. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Aug 11 (Reuters) - U.S. President Joe Biden is tapping C. Kirabo Jackson, a labor economist whose research advocates robust public spending on schools, to fill out his three-member Council of Economic Advisers (CEA), according to a White House official. The selection suggests public education will be a key area of focus for Biden's brain-trust ahead of a 2024 re-election bid expected to turn on the strength of the economy. Jackson's pick also comes as the Biden administration is thinking through how to boost lagging educational performance since the COVID-19 pandemic. Reporting by Trevor Hunnicutt; Editing by Heather Timmons and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, George E, Jonathan Ernst, Kirabo Jackson, Jackson, Biden, Jackson's, Cecilia Rouse, Trevor Hunnicutt, Heather Timmons, Andrea Ricci Organizations: George, Wahlen Department of Veterans Affairs Medical, REUTERS, Economic Advisers, White, Northwestern University, Princeton University, CEA, Thomson Locations: Salt Lake City , Utah, U.S

☆ Show me the money: The highest revenue raising taxes in Biden's proposed budget
▼ + stars: | 2023-03-11 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

Many of the proposed taxes are more of messaging signals as the president prepares to launch a potential re-election bid and enter the 2024 campaign season. Raise corporate tax rate to 28%: $1.326 trillionBiden's budget calls for increasing the corporate income tax to 28% from the current 21%. Increasing taxes on the highest earners, including large corporations, is central to its implementation. Impose minimum income tax on 0.01%: $436.61 billionIncrease the wealthy's ACA tax: $344.37 billionBiden's budget calls for increasing the 3.8% Affordable Care Act tax to 5% on Americans earning more than $400,000. If enacted, the income tax hike would reverse cuts made by former President Donald Trump in his 2017 tax bill.

☆ Biden is once again pushing to give all US workers paid parental leave— and he wants their kids to have free universal preschool, too
▼ + stars: | 2023-03-09 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Biden is pushing for paid family and medical leave in his budget proposal unveiled on Thursday. "Policies such as paid leave and childcare will bring more workers into the labor force and improve productivity," Cecilia Rouse, chair of the White House Council of Economic Advisers, said. Biden has long supported paid family and medical leave, along with investments in childcare, and he has urged Congress to implement measures that would bolster those programs. "For middle- and low-income workers in particular, access to paid family and medical leave is all too rare, but even the highest wage workers are more likely than not to be without paid family leave," they wrote in their letter. The last time the Biden administration tried to push through paid leave — even at just four weeks — it was torpedoed by Republicans and one Democrat.

☆ Biden budget would cut deficit by $3 trillion over next decade with 25% minimum tax on richest Americans
▼ + stars: | 2023-03-09 | by ( Emma Kinery | ) www.cnbc.com time to read: +6 min

President Joe Biden released his budget on Thursday, vowing to cut $3 trillion from the federal deficit over the next decade, in part, by levying a 25% minimum tax on the wealthiest Americans. "It does this in part by reforming our tax code to reward work, not wealth, including by ensuring that no billionaire pays a lower tax rate than a teacher or firefighter and by quadrupling the tax rate on corporate stock buybacks," Young said. In addition to social spending, the budget includes robust defense funding. House Budget Chairman Jodey Arrington told CNN on Wednesday the GOP budget should be ready by the second week in May. Preempting Republican concerns, Rouse stressed the ways the Biden White House has repeatedly bucked economic expectations.

The decision, announced after financial markets closed, gives Biden a pair of trusted Washington insiders to steer economic policy as the risk of recession fades but inflation lingers. Big fights also loom with the Republican-controlled House of Representatives over raising the debt ceiling. The shakeup comes as the White House tries to tackle what officials view as a frustrating disconnect between relatively strong economic data and weak public sentiment. The White House has refused to discuss spending cuts without a debt ceiling vote first. Bernstein last week conceded that the White House's early description of inflation as "transitory" had missed the mark.

☆ Op-ed: U.S. inflation and jobs reports show fastest recovery in 30 years under Biden
▼ + stars: | 2023-02-14 | by ( Cecilia Rouse | Chair Of The Council Of Economic Advisers | ) www.cnbc.com time to read: +6 min

The employment report earlier this month suggested U.S. employers added 517,000 jobs in January, well above what private forecasters were expecting. Over 12 million jobs have been created since President Joe Biden took office. At the same time, we have experienced the fastest jobs recovery from a recession in the last three decades. In January, the unemployment rate was 3.4%, with Black unemployment and unemployment for workers with less than a high school degree at near record lows. Looking back to where we were when President Biden came into office and the progress we have made is extraordinary.

☆ Biden to name Fed's Lael Brainard as top economic advisor, source says
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: +1 min

Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard to the White House's top economic policy position as early as Tuesday, a source familiar with the matter said on Monday. Brainard would replace White House National Economic Council (NEC) Director Brian Deese, who has announced his resignation. In addition, Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers, the source said. "Under normal circumstances I would have thought that her advice to Biden would be very pro stimulus," he said.

☆ Biden to name Fed's Lael Brainard as top economic adviser - source
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

Feb 13 (Reuters) - U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard to the White House's top economic policy position as early as Tuesday, a source familiar with the matter said on Monday. Brainard would replace White House National Economic Council (NEC) Director Brian Deese, who has announced his resignation. In addition Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers, the source said. The White House declined to comment. "Under normal circumstances I would have thought that her advice to Biden would be very pro stimulus," he said.

☆ Who is Jared Bernstein, new chief White House economist?
▼ + stars: | 2023-02-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

Americans remain unimpressed by Biden's economic performance, with prices of many basic goods and mortgage rates high. Bernstein, who played the double bass in jazz bands and worked as a social worker in New York City, has long been a voice for progressive economic policy. He served in the Labor Department under former President Bill Clinton and then as Biden's chief economist when he was vice president. At the Economic Policy Institute, a Washington think tank, he wrote and testified to Congress extensively on the shrinking U.S. middle class, a bedrock Biden theme. U.S. business groups worry that Bernstein's labor ties and anti-free trade stance could hamper efforts to bolster trade ties with other countries.

Feb 14 (Reuters) - U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard as his top economic policy adviser as early as Tuesday, a source familiar with the matter said, as the 2024 elections approach. Brainard, an experienced fiscal and monetary affairs official, would replace White House National Economic Council (NEC) Director Brian Deese, who has announced his resignation. In addition, Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers, the source said. The White House declined to comment. Biden's overhaul of his top economic team comes as the Fed is still trying to glide inflation down without causing a recession.

☆ Biden taps Fed's Brainard, Bernstein for top economic jobs as part of White House reshuffle
▼ + stars: | 2023-02-14 | by ( Emma Kinery | ) www.cnbc.com time to read: +4 min

In recent weeks, Jeff Zients has replaced Ron Klain as White House chief of staff. Kate Bedingfield, White House communications director, said she plans to leave at the end of the month. The pair will have tremendous influence over economic policy at a tricky time for the United States. As NEC director, Brainard will be tasked with crafting the president's economic agenda and coordinating economic responses between various agencies. "He is an expert on worker empowerment and a worker-centric economic policy, which has long been the heart of my economic vision."

☆ Morning Bid: Wings of a Dove
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +5 min

U.S. President Joe Biden is expected on Tuesday to name Fed Vice Chair Lael Brainard to a top White House economic policy position, replacing National Economic Council Director Brian Deese. Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers. Brainard was seen as a powerful voice cautioning against over-aggressive Fed policy tightening. U.S. stock futures and world equities were higher on Tuesday, U.S. Treasury yields and the dollar were steady to lower. Euro zone economic growth slowed in the last three months of 2022 but avoided a contraction many had predicted for months.

Walsh will then start his new private-sector job as executive director of the NHL labor union, the hockey news website reported. The NHL Players' Association did not respond to a request for comment. Deputy Labor Secretary Julie Su, a former California labor secretary, is expected to take over as acting secretary. As Labor secretary, Walsh had vowed to boost union membership, a key issue for Biden. The NHL players' union represents 750 athletes, according to the organization.

☆ U.S. Labor Secretary Walsh to depart Biden administration, source says
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Biden, set to delivers his State of the Union address to Congress later on Tuesday, relied on Walsh to negotiate labor talks that helped avert a railway shutdown in September. Walsh will step down in the days following Biden's address, the Daily Faceoff, a hockey news website, reported on Tuesday citing sources. Walsh then be installed as executive director of the NHL labor union, the website reported. The NHL Players' Association did not immediately respond to a request for comment. Council of Economic Advisers chair Cecilia Rouse and National Economic Council director Brian Deese are expected to depart in the coming weeks.

REUTERS/Kevin LamarqueWASHINGTON, Feb 1 (Reuters) - U.S. President Joe Biden is still weighing candidates for new top economic advisers, officials familiar with the process said, and no final decisions are expected before next week's State of the Union speech. Biden is focused on Tuesday's address to Congress and had not made a decision on the top jobs at the National Economic Council (NEC) and the Council of Economic Advisers (CEA), officials said. Other candidates for the NEC job include Deputy Treasury Secretary Wally Adeyemo and Commerce Secretary Gina Raimondo, Reuters reported last week. Only the CEA job requires Senate confirmation. Brainard was widely floated as the frontrunner for Treasury secretary when Biden came to office, only for him to pick Yellen instead.

☆ CEA Chair Cecilia Rouse weighs in on Chevron's $75 billion stock buyback announcement
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEA Chair Cecilia Rouse weighs in on Chevron's $75 billion stock buyback announcementWhite House Council of Economic Advisors Chair Cecilia Rouse joins 'Closing Bell" to discuss Chevron's $75 billion buyback program, moderating price per GDP, and investing in America's infrastructure and productivity.

☆ Biden celebrates easing inflation numbers, defends his economic policies
▼ + stars: | 2022-12-13 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

President Joe Biden on Tuesday celebrated the positive consumer price index report that showed inflation easing in the United States ahead of the holiday season. "We learned last month that the inflation rate came down, down more than experts expected," Biden said, speaking from the White House. "In a world where inflation is rising in double digits in many major economies around the world, inflation is coming down in America." But he said the positive economic news confirms that his economic policies are working, and urged Americans to stay the course. "What is clear is my economic plan is working and we're just getting started," Biden said.

☆ U.S. prints its first-ever currency with two women's signatures on them
▼ + stars: | 2022-12-08 | by ( ) www.nbcnews.com time to read: +3 min

U.S. Treasury Secretary Janet Yellen will honor fellow pioneers when she presides over Thursday’s unveiling of the first U.S. banknotes printed with two women’s signatures, while calling for “much more” work to advance equity for women and minorities. The Fort Worth facility — one of two in the United States — prints over 50% of U.S. paper currency each year. “We’ve made progress in providing greater economic opportunity for women at Treasury and in the economics profession. It means a lot to me and my colleagues that she will be the first female Treasury secretary with her signature on the dollar note,” she said. “It represents that we are finally getting the insight from important parts of our economy and our society,” she said.

☆ Yellen honors fellow pioneers as U.S. prints first banknotes with two women's signatures
▼ + stars: | 2022-12-08 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

FORT WORTH, Texas, Dec 8 (Reuters) - U.S. Treasury Secretary Janet Yellen will honor fellow pioneers when she presides over Thursday's unveiling of the first U.S. banknotes printed with two women's signatures, while calling for "much more" work to advance equity for women and minorities. The Fort Worth facility - one of two in the United States - prints over 50% of U.S. paper currency each year. "We’ve made progress in providing greater economic opportunity for women at Treasury and in the economics profession. But we know that much more needs to be done," Yellen said in remarks prepared for the event. "It represents that we are finally getting the insight from important parts of our economy and our society," she said.

☆ Yellen honors pioneers as U.S. prints first banknotes with women's signatures
▼ + stars: | 2022-12-08 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

REUTERS/Shelby TauberFORT WORTH, Texas, Dec 8 (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday hailed fellow pioneers during the unveiling of the first U.S. banknotes printed with two women's signatures, while calling for "much more" work to advance equity for women and minorities. Seeing the bills for the first time, Yellen told Malerba: "Oh my gosh. Asked how she felt, a beaming Yellen told reporters: "Excited. But we know that much more needs to be done," Yellen told printers after a tour of the 675-person facility. It means a lot to me and my colleagues that she will be the first female Treasury secretary with her signature on the dollar note," she said.

☆ White House economic adviser says Fed actions starting to cool U.S. economy
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Oct 16 (Reuters) - White House economic adviser Cecilia Rouse said on Sunday that Federal Reserve interest rate hikes were starting to cool the "red-hot" U.S. economy, especially labor and housing markets, but inflation was still too high. Rouse, who chairs the White House Council of Economic Advisers, told CNN that the Biden administration would work to bring costs down "to the best of our abilities". But some inflation is related to energy price spikes prompted by the war in Ukraine, she said. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ CEA Chair Cecilia Rouse: We understand inflation is a challenge
▼ + stars: | 2022-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEA Chair Cecilia Rouse: We understand inflation is a challengeCecilia Rouse, Council of Economic Advisors chairwoman, joins 'TechCheck' to discuss the worldwide battle with inflation, the possibility for the Fed to achieve a soft landing, and the U.S. on track to reduce its deficit this year.

Search resuls for: "Cecilia Rouse"

23 mentions found