DIRS.INFO The most relevant business & tech news

TradeBiden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."

Persons: Biden, Niels Wenstedt, Trump, Katherine Tai, Sen, Elizabeth Warren, Barack Obama Organizations: BSR Agency, Getty, Republican Party, American Free Trade, World Trade Organization, Big Tech, Trump, Bloomberg News, Brookings Institution, TransPacific, US, Biden, Politico Locations: Washington, China, American, Mexico, Beijing

☆ Trump advisers are mulling penalties for any countries that stop using the dollar, report says
▼ + stars: | 2024-04-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Donald Trump's advisors are discussing penalties for countries that move away from the dollar, sources told Bloomberg. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEconomic advisors to Donald Trump are working out plans to blunt de-dollarization efforts, which could include penalties on any economy that moves away from the greenback. As of March, the dollar still leads in global payments, making up 47.4% of transactions, SWIFT data shows.

Persons: Donald, —, Donald Trump, Trump, Emmanuel Macron, hasn't, Nouriel Organizations: Bloomberg, Service, greenback, West, United, CNBC Locations: Ukraine, China, Russia, Saudi Arabia, United Arab Emirates, Europe

☆ Trump allies are drawing up plans to make the Fed less independent, report says
▼ + stars: | 2024-04-26 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +1 min

Allies of former president Trump are drafting plans to chip away at the independence of the Fed, The Wall Street Journal reported. Trump has not publicly acknowledged the plan, but sources said it has his blessing. The plan also suggests Trump could fire Jerome Powell before his term ends in 2026. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Trump, Jerome Powell, —, Donald Trump's Organizations: Fed, Street Journal, Service, Republican, Federal Reserve, Street, Business

☆ AI could split workers into 2: The ones whose jobs get better and the ones who lose them completely
▼ + stars: | 2024-04-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Lower-income workers without a college degree could be at the most risk of AI job replacement. AdvertisementNothing is certain about the future of AI technologies, but three things are becoming more clear. That said, if and when some AI job replacement does come, some workers could be more at risk than others. Conversely, 17% of high school graduates had jobs with high AI exposure, and 14% had jobs with both high AI exposure and low performance requirements. Re-training workers who lose their jobs due to AI could help move the needle in a more positive direction.

Persons: —, It's, Angus Deaton, Deaton, he's Organizations: Service, of Economic Advisors, Walmart, Target Locations: China

☆ CEA chair on jobs report: Good news for working families
▼ + stars: | 2024-02-02 | 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 on jobs report: Good news for working familiesJared Bernstein, Council of Economic Advisors chair, joins 'Money Movers' to discuss Friday's jobs report, the wage gains despite fewer hours worked, and whether inflation can reach the Fed's target with the current economic strength.

Persons: Jared Bernstein Organizations: Economic Advisors

☆ 'Mnuchin has not been in the room': Trump Treasury secretary absent from 2024 campaign
▼ + stars: | 2024-01-04 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

After serving in the Trump administration for four years, former Treasury Secretary Steven Mnuchin is keeping his distance from the Republican former president and his campaign, according to people familiar with the matter. "Mnuchin has not been in the room," said Stephen Moore, a conservative economist who is advising Trump. A person close to Mnuchin who was granted anonymity in order to recount private conversations, said Mnuchin supports Trump's 2024 run for president. In 2016, Mnuchin was Trump's national finance chairman during his first run for the White House. For now, Mnuchin's private equity firm, Liberty Strategic Capital, takes up most of his time, people close to the former secretary told CNBC.

Persons: Steven Mnuchin, Donald Trump, Ivanka Trump, Trump, Mnuchin, Stephen Moore, it's, Larry Kudlow, Bob Lighthizer, Trump's, Joe Biden's, Hillary Clinton, Mike Pompeo, Mike Pence Organizations: White House, White, Republican, Trump, Fox Business, National Economic Council, NBC News, Liberty Strategic Capital, CNBC, East . Press, Capitol, The Washington Post Locations: Washington , U.S, United States, East

☆ Where Are the Pros in Biden’s Campaign?
▼ + stars: | 2023-11-30 | by ( Karl Rove | ) www.wsj.com time to read: 1 min

Journal Editorial Report: His economic advisors have proposed myriad revenue raisers. Images: AP/Getty Images Composite: Mark KellyWe knew the answer as soon as the question was raised. At Monday’s White House briefing, Ed O’Keefe of CBS asked press secretary Karine Jean-Pierre if, “given the president’s sagging poll numbers,” which show him trailing “any Republican opponent,” there has “been any talk in this White House about a change in strategy or staffing.” Ms. Jean-Pierre dismissed this with a curt “no.”

Persons: Mark Kelly, Ed O’Keefe, Karine Jean, Pierre, Ms, Jean, curt “ Organizations: CBS, Republican

Argentine President-elect Javier Milei departs the Eisenhower Executive Office Building after meeting with Biden administration staff at the White House complex in Washington, U.S., November 28, 2023. His foreign policy, meanwhile, is unabashedly pro-United States and pro-Israel, with a cooler stance on top trade partners Brazil and China. 2 Gita Gopinath and other fund officials, the fund said separately. The IMF has said in the past that dollarization is not a substitute for sound macroeconomic policy. Milei and IMF officials had a first virtual meeting on Friday, which Georgieva called a "very constructive engagement".

Persons: Javier Milei, Kevin Lamarque, Milei, Jake Sullivan, Juan Gonzalez, Benjamin Gedan, Alberto Fernandez, Vladimir Putin, Kristalina Georgieva, Posse, Luis Caputo, Gita Gopinath, Georgieva, Jason Lange, Rodrigo Campos, Rosalba O'Brien, Christopher Cushing Organizations: Argentine, Biden, REUTERS, Rights, U.S, White, National Security, Western, United, Israel, America, Wilson, International Monetary Fund, IMF, Reuters, Thomson Locations: Washington , U.S, Washington, Argentina, United States, Brazil, China, U.S, Moscow, Ukraine, Beijing, Argentine, New York

☆ Americans don't have to worry about interest rates getting higher in the Fed's latest move
▼ + stars: | 2023-11-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve continued its pause on interest rate hikes in November. Still, uncertainty going into 2024 suggests an interest rate cut won't happen anytime soon. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Still, while the Federal Open Market Committee has remained cautiously optimistic about the direction the economy is moving toward, it doesn't anticipate interest rate cuts will happen anytime soon. Its meeting minutes from September stated that some participants felt it necessary to shift the conversation from "how high to raise the policy rate to how long to hold the policy rate at restrictive levels."

Persons: —, Jerome Powell, Powell, we've, Janet Yellen, Goldman Sachs, David Solomon Organizations: Federal Reserve, Service, Federal, Market Committee, White House's Council, Economic Advisors, Bloomberg, United Auto Workers Locations: American, Ukraine, China

☆ I worked in the White House as an unpaid intern. The job was intense and fascinating — here's what my day looked like.
▼ + stars: | 2023-09-26 | by ( Aria Yang | ) www.businessinsider.com time to read: +10 min

Julian Sarafian is a 29-year-old former White House intern from Sacramento, California. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Julian Sarafian, a 29-year-old former White House intern from Sacramento, California. It's a 10 to 15 minute walk to the White House grounds, and I even walked there on cold and snowy days. It's the side where visitors often gather to take photos of the White House, so it was neat walking in like a VIP. They were accompanied by the White House groundskeeper and were often spotted around the grounds.

Persons: Julian Sarafian, Barack Obama, Joe Biden, —, Barack Obama's, Obama, Jason Furman, I'd, It's, wasn't, Sarafian, interning, Sunny, Yang Organizations: White, Service, UC Berkeley, UC Washington Program, of Economic Advisors, FBI, of Economic, of Economic Advisers, DC, UC Washington, Secret, Harvard Law School Locations: Sacramento , California, Washington ,, Dupont, Washington

☆ Former Bridgewater CEO Dave McCormick would get big money backing for Pennsylvania U.S. Senate run
▼ + stars: | 2023-09-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Dave McCormick, Republican U.S. Senate candidate from Pennsylvania , greets supporters during a campaign event with Sen. Ted Cruz, R-Texas, at Lehigh Valley Sporting Clays in Coplay, Pa., on Tuesday, January 25, 2022. The last time McCormick ran for Senate, his chief rival in the Republican primary was TV host Dr. Mehment Oz. Christian Ferry, who previously worked for Republican Sen. Lindsey Graham and late GOP Sen. John McCain, said, "Every cycle these totals continue to go up." McCormick has reportedly been promised the support of the Senate Leadership Fund, a super PAC aligned with Republican Senate Minority Leader Mitch McConnell of Kentucky. Burch paid approximately $16 million for the estate, according to Newsday.

Persons: Dave McCormick, Sen, Ted Cruz, Dave McCormick's, Tory Burch, McCormick, Goldman Sachs, Lloyd Blankfein, Steven Mnuchin, Gary Cohn, David Solomon, Bob Steel, Perella Weinberg, Mnuchin, Donald Trump, Cohn, Bob Casey, Paul Singer, Steve Schwarzman, Burch, Mnuchin Cohn, Singer, Schwarzman, Steel, Dave, agains Casey, Dina Powell McCormick, Dina, Democrat John Fetterman, Mehment Oz, OpenSecrets . Oz, Donald Trump . Oz, Casey, Oz, Alex Conant, Republican Sen, Marco Rubio, It's, Lindsey Graham, GOP Sen, John McCain, Mitch McConnell of Organizations: Republican U.S, Lehigh Valley, U.S, Senate, Bridgewater Associates, Democratic, Elliot Investment Management, Blackstone, CNBC, Steel, NBC News, Associated Press, McCormick, Keystone, Bush, Treasury, Pennsylvania Senate, Democrat, Republican, GOP, PAC, Bridgewater, Pennsylvania Democratic Party, Fund, Prosperity, that's, Koch Industries, Hamptons, Newsday Locations: Republican, Pennsylvania, Texas, Coplay, Pa, Connecticut, Pittsburgh, Trump, OpenSecrets ., Mitch McConnell of Kentucky, Southampton, Long, , New York, Palm Beach

☆ Argentina August inflation forecast at highest since 1991
▼ + stars: | 2023-09-11 | by ( Hernan Nessi | ) www.reuters.com time to read: +2 min

Argentina was already battling annual inflation near 115%, which is driving a painful cost of living crisis and pushing people into poverty. "August was the worst month, I would say in the last 25 years of Argentina's economy," Sergio Massa, Minister of Economy and presidential candidate for the ruling Peronist bloc, said in a recent television interview. Reuters Graphics Reuters GraphicsThe survey of 28 analysts polled by Reuters forecast monthly inflation for August ranging from 9.3% to a maximum 12.9%. Analysts also predicted inflation would likely remain in double figures for September. Reporting by Hernan Nessi; Writing by Valentine Hilaire; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Javier Milei, Sergio Massa, Eugenio Mari, Hernan Nessi, Valentine Hilaire, Josie Kao Organizations: Index, Peronist, Reuters Graphics Reuters, Reuters, Argentina's National Institute of Statistics, T Economic Advisors, Libertad y Progreso Foundation, Thomson Locations: BUENOS AIRES, Argentina

☆ We're in an 'incredible economic moment' with disinflation amid tight labor market, says CEA Chair
▼ + stars: | 2023-08-25 | 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 EmailWe're in an 'incredible economic moment' with disinflation amid tight labor market, says CEA ChairCNBC's Steve Liesman and Jared Bernstein, chair of President Biden's Council of Economic Advisors, join 'Squawk Box' to discuss the state of the U.S. economy, effects of Bidenomics, inflation outlook, and more.

Persons: Steve Liesman, Jared Bernstein Organizations: Biden's, Economic Advisors Locations: U.S

☆ How Biden's new student-loan repayment plan could keep borrowers from owing far more debt than they originally took out
▼ + stars: | 2023-08-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden formally launched the new income-driven repayment plan, known as the SAVE plan. Interest capitalization often keeps borrowers in repayment without being able to touch their principal balance. AdvertisementAdvertisementThe new SAVE plan would work to prevent that from happening. AdvertisementAdvertisementAside from the SAVE plan, the Education Department had previously announced plans to tackle growing interest on borrowers' balances. The formal launch of the SAVE plan comes as the student-loan payment pause is about to end after over three years.

Persons: Biden, Joe Biden's, Biden's Organizations: Service, Economic Advisors, CEA, Education Department, Higher Locations: Wall, Silicon, Biden's

☆ Watch CNBC's full interview with Robert Reich, Tyler Goodspeed and Marc Morial
▼ + stars: | 2023-07-07 | 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 EmailWatch CNBC's full interview with Robert Reich, Tyler Goodspeed and Marc MorialRobert Reich, former Labor Secretary, Marc Morial, National Urban League president and CEO, and Tyler Goodspeed, former Council of Economic Advisors acting chair, join 'Last Call' to discuss the June jobs report and why there might still be concern in the labor market.

Persons: Robert Reich, Tyler Goodspeed, Marc Morial Robert Reich, Marc Morial Organizations: Labor, National Urban League, of Economic Advisors

☆ Permanent child tax credits could encourage Americans to reenter the workforce: Tyler Goodspeed
▼ + stars: | 2023-07-07 | 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 EmailPermanent child tax credits could encourage Americans to reenter the workforce: Tyler GoodspeedRobert Reich, former Labor Secretary, Marc Morial, National Urban League president and CEO, and Tyler Goodspeed, former Council of Economic Advisors acting chair, join 'Last Call' to discuss the June jobs report and why there might still be concern in the labor market.

Persons: Tyler Goodspeed Robert Reich, Marc Morial, Tyler Goodspeed Organizations: Labor, National Urban League, of Economic Advisors

☆ The US economy is doing way better than the rest of the rich world
▼ + stars: | 2023-07-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

The US is performing much better than many other wealthy nations when comparing economic growth and inflation rates. The US had the highest GDP growth since the start of the pandemic among the G7 countries, an informal group of industrialized democracies. Even when taking out food and energy prices, which were especially elevated in Europe due to the invasion of Ukraine, the US came in below the other G7 countries. Despite this data, "inflation going forward remains considerably uncertain across all G7 nations, including the US," the CEA wrote. But despite the US's outperformance on GDP and inflation, many Americans are still worried about the nation's economy.

Persons: —, Joanne Hsu, Hsu Organizations: US, Service, OECD, Commerce Department, White House Council of Economic Advisors, Index, CEA, University of Michigan, Consumers Locations: Canada, Italy, Germany, Japan, Europe, Ukraine

☆ Watch CNBC's full interview with Tyler Goodspeed, Donna Edwards and Greg Branch
▼ + stars: | 2023-05-05 | 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 EmailWatch CNBC's full interview with Tyler Goodspeed, Donna Edwards and Greg BranchFormer Council of Economic Advisors Chair Tyler Godspeed, Former Congresswoman Donna Edwards (D-Maryland), and Veritas Financial Founder Greg Branch join 'Last Call' to discuss the risk involved with the upcoming debt ceiling showdown in congress and what that means for the stock market.

According to the U.S. Chamber of Commerce, a short-term extension of the debt ceiling has been enacted six times since 1993 to buy time for a broader package to take shape. For now, the White House remains committed publicly to its position pushing for a long-term solution and remains open to a two-track process to negotiate spending separately from the debt ceiling. "This is not our plan," a White House spokesperson said of a short-term extension. Moderate Democrats in Congress have signaled a willingness to vote for a short-term extension — making it an option that could pass through a deeply divided legislative branch. "I think if the White House understands how important it is for us to do things like claw back unobligated Covid funds, not spend $500 billion on an unconstitutional student loan forgiveness, start to unlock American energy," Johnson tells NBC News, "I think they're going to find Republicans receptive if the White House understands our values."

☆ 'The market is shrugging off' possible debt default, says Vertitas' Greg Branch
▼ + stars: | 2023-05-05 | 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 Email'The market is shrugging off' possible debt default, says Vertitas' Greg BranchFormer Council of Economic Advisors Chair Tyler Goodspeed, Former Congresswoman Donna Edwards (D-Maryland), and Veritas Financial Founder Greg Branch join 'Last Call' to discuss the risk involved with the upcoming debt ceiling showdown in Congress and what that means for the stock market.

☆ US Declining Population, Worker Shortage Will Cause Economic Crisis Without a Fix
▼ + stars: | 2023-05-04 | by ( Gadel Valle | ) www.businessinsider.com time to read: +15 min

That means that unless people start having a lot more kids, the US population could eventually start to shrink — just like China's population has. While the US population has managed to avoid an outright drop, population growth reached an unprecedented low of 0.12% in 2021. One way the US could encourage more immigration is by focusing on temporary visas for specific industries that need workers. And the treatment of workers in the country on temporary visas has been a problem for decades. After all, the US is running out of options, and soon its growing people shortage is going to spell economic disaster.

☆ China wants the dollar's dominance to fade - and the US should defend its reserve currency status, Biden nominee says
▼ + stars: | 2023-04-19 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Lawmakers should raise the debt ceiling to defend the greenback's reserve currency status, he says. "I think there's some evidence that it does," he told Tennessee Senator Bill Hagerty, who had asked whether China wants the dollar's dominance as the global reserve currency to fade. "There are extremely important privileges, and even in the realm of security [there are] benefits to having the reserve currency," Bernstein added. "One of the most obvious is of course sanctions — if you control the reserve currency, you are able to impose sanctions as we've done on Russia to considerable effect." Read more: The anti-dollar drive spearheaded by Asia has spread to Europe, with France growing sour on the greenback's dominance.

☆ The bond market is signaling concern over the economy, says The New York Times' Joe Rennison
▼ + stars: | 2023-03-24 | 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 EmailThe bond market is signaling concern over the economy, says The New York Times' Joe RennisonBen White of Politico, The New York Times' Joe Rennison and former acting chairman of the Council of Economic Advisors Tyler Goodspeed, join CNBC's Brian Sullivan and 'Last Call' to discuss money being pulled from U.S. banks and whether Deutsche Bank is in trouble.

☆ Former CEA Chair Glenn Hubbard: The Fed should continue to raise rates
▼ + stars: | 2023-03-20 | 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 EmailFormer CEA Chair Glenn Hubbard: The Fed should continue to raise ratesGlenn Hubbard, former Council of Economic Advisors chair, joins 'Closing Bell: Overtime' to discuss Amazon's layoffs and the Fed's next move.

☆ Fmr. Council of Economic Advisors Chair Jason Furman breaks down his op-ed's call for a more hawkish Fed
▼ + stars: | 2023-03-03 | 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 EmailFmr. Council of Economic Advisors Chair Jason Furman breaks down his op-ed's call for a more hawkish FedJason Furman, fmr. Council of Economic Advisors chair, joins 'Closing Bell: Overtime' to discuss his reasoning for the Fed to go faster and higher with its rate hikes.

Search resuls for: "Economic Advisors"

25 mentions found