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☆ Tension with Israel represents only one of Biden’s immense election challenges
▼ + stars: | 2024-05-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

New York prosecutors claim he falsified business records to hide a payment to Stormy Daniels in an early act of election interference in 2016. Trump’s base voters have no problems either with his criminal trials or his false claims that he was cheated out of office. Israel may be far from the biggest worry for Trump’s campaignPolls consistently show that voters care most about the economy. And voters who say the economy is very important to their vote backed Trump over Biden 62% to 30%. It’s not clear that heated Republicans attacks on Biden over Israel Thursday will seriously wound him with his own voters.

Persons: Joe Biden, Biden, Donald Trump –, pollsters, Trump, Stormy Daniels, He’s, Biden outpolls, Trump’s, CNN’s Erin Burnett, Burnett, ”, ” Biden, ’, George H.W, Bush, ” Bush, Bill Clinton, Clinton, Israel —, Benjamin Netanyahu, Netanyahu, Republican Sen, Thom Tillis, GOP Sen, Josh Hawley Organizations: CNN, New, Republican, Biden, Federal, Capitol, Arab American, Hamas, Israel, Israel Thursday, GOP, Capitol Hill, Democratic Locations: Wisconsin, East, Ukraine, Gaza, America, Manhattan, New York, it’s, Israel, United States, Arkansas, Scranton, Gazan, Rafah, Michigan, Missouri

☆ UK GDP growth: Country exits recession as services bounce back
▼ + stars: | 2024-05-10 | by ( Hanna Ziady | Anna Cooban | ) edition.cnn.com time to read: +2 min

The increase follows falls of 0.3% in the fourth quarter and 0.1% in the third quarter of last year. The Bank of England now expects UK GDP to expand by 0.5% this year, double the pace forecast in February, according to projections published Thursday. A growing economy could, however, delay the interest rate cuts widely expected this year. “Stronger GDP growth raises the risk of stronger demand pressures on inflation,” analysts at Nomura wrote in a note, adding that Friday’s GDP release “casts doubt” over a cut in June. Annual UK inflation came in at 3.2% last month, a sharp slowdown from a rate above 10% about a year ago.

Persons: Rishi Sunak, Sunak, Nomura, ”, Andrew Bailey, Bailey Organizations: London CNN, Gross, Office, National Statistics, Conservative Party, Labour Party, The Bank of England, P Global . Service, Bank of England Locations: United Kingdom

☆ Golden visas attracted wealthy Americans to Southern Europe. Then their housing crisis followed.
▼ + stars: | 2024-05-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

This is in part the doing of so-called "golden visas," hugely popular residency visas for foreign investors. And they purchased more Portuguese golden visas than any other nationality in 2022. Related storiesBut as Portugal has experienced a worsening housing affordability crisis, Portuguese public opinion on golden visas has soured. Last year, the country changed the terms of its golden visa program to exclude real estate investment. Other southern European countries are following suit, similarly pointing to skyrocketing real estate prices.

Persons: —, They're, they're, João Pereira dos Santos, Pereira dos Santos, Nuno Fazenda, Holger Schmieding, Schmieding, David Zorrakino Organizations: Service, Business, The New York Times, School of Economics, Finance, Queen Mary University of London, State, Tourism, Trade, Services, Bloomberg, Berenberg Bank, Getty, European Central Bank, Paris Locations: Greece, Portugal, Tourism, Lisbon, Athens, Spain, Southern Europe, Portuguese, London, Ramblas, Barcelona, Catalonia, Europe, Germany, Netherlands, France

☆ Economic conditions are in a "goldilocks" period, says Jeremy Schwartz
▼ + stars: | 2024-05-08 | 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 EmailEconomic conditions are in a "goldilocks" period, says Jeremy SchwartzJeremy Schwartz, Global Chief Investment Officer at WisdomTree, discusses the economy, earnings, and the international markets.

Persons: Jeremy Schwartz Jeremy Schwartz Organizations: Global Chief

☆ U.S. and China trade divisions threaten a 'reversal' for global economy, IMF official warns
▼ + stars: | 2024-05-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Carlos Barria | Afp | Getty ImagesDifferences between U.S.-led Western and China-aligned economic blocs threaten global trade cooperation and economic growth, a top official with the International Monetary Fund warned on Tuesday. IMF Deputy Managing Director Gita Gopinath said in a speech at Stanford University that events such as the global pandemic and Russia's invasion of Ukraine have disrupted global trade relations in ways not seen since the Cold War. "Increasingly, countries around the world are guided by economic security and national security concerns in determining who they trade with and invest in," she said, adding that this has resulted in countries increasingly picking sides between China and the U.S. Trade between the China and U.S. blocs has declined compared with trade among countries within the groupings, Gopinath said. The U.S. bloc mainly includes Europe, Canada, Australia and New Zealand, while China-leaning countries include Russia, Eritrea, Mali, Nicaragua and Syria.

Persons: Xi Jinping, Carlos Barria, Gita Gopinath, Gopinath Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Afp, International Monetary Fund, Stanford University, U.S, IMF, Trade, West Locations: Asia, San Francisco , California, China, Ukraine, Washington, Beijing, U.S, South, Taiwan, Europe, Canada, Australia, New Zealand, Russia, Eritrea, Mali, Nicaragua, Syria

☆ Biden says economy is doing well, claims polls don’t tell the whole story
▼ + stars: | 2024-05-08 | by ( Kevin Liptak | ) edition.cnn.com time to read: +3 min

“We’ve already turned it around,” Biden told CNN’s Erin Burnett in Racine, Wisconsin, where he was promoting new economic investments that could result in thousands of new jobs. Biden pointed to surveys showing many Americans view their own economic situation favorably, even as they look negatively on the nationwide economy. “The idea that we’re in a situation where things are so bad that folks – I mean, we’ve created more jobs. “Let me say it this way – when I started this administration, people were saying there’s going to be a collapse to the economy. But surveys have shown voters giving Biden little credit for the record.

Persons: Joe Biden, “ We’ve, ” Biden, CNN’s Erin Burnett, Biden, ”, we’ve, “, Donald Trump Organizations: Wisconsin CNN, Biden, White Locations: Racine, Wisconsin, Racine , Wisconsin, Taiwan

☆ An escalating cold war between US and China would be a blow to global growth, IMF official says
▼ + stars: | 2024-05-08 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Read previewA more intense cold war between the US and China would have a potentially dire impact on the global economy, according to an official from the International Monetary Fund. Speaking at Stanford University on Tuesday, IMF deputy managing director Gita Gopinath said that while US-China tensions haven't yet devolved into a full-blown cold war, such an escalation would be a major headwind to global growth. Advertisement"The emergence of these 'connector' countries—perhaps most notably Mexico and Vietnam—may have helped cushion the global economic impact of direct trade decoupling between the U.S. and China," Gopinath said. Zooming out, Gopinath highlighted that geopolitical instability in regions like the Middle East and turmoil stemming from the Russia-Ukraine war has sparked trade turbulence unseen since the Cold War. The IMF emphasized that trade fragmentation carries a higher price tag today, with the goods trade-to-GDP ratio now at 45% compared to 16% at the onset of the Cold War.

Persons: —, Gita Gopinath, Gopinath Organizations: Service, International Monetary Fund, Stanford University, Tuesday, Business, IMF, U.S Locations: China, Mexico, Vietnam, Russia, Ukraine

☆ Key lines: CNN’s interview with Biden on polls, protests and more
▼ + stars: | 2024-05-08 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden sat down with CNN’s Erin Burnett on Wednesday for a rare, one-on-one television interview with a member of the national media. But Biden expanded, suggesting protesters have gone too far:There is a legitimate right to free speech and protest. There’s a legitimate right to do that and they have a right to do that. But there’s not a legitimate right to use hate speech. There is not a legitimate right to block people’s access to class.

Persons: Joe Biden, CNN’s Erin Burnett, Biden, Donald Trump, We’ve, they’re, ” Biden, ”, SSRS, Jennifer Agiesta, He’s, I’ve, Trump, won’t, ’, ►, Joe ”, There’s, there’s, Israel, bin, They’re, “ We’re Organizations: CNN, Biden, Trump, University of Michigan, Microsoft Locations: Wisconsin, Midwest, Israel, Racine , Wisconsin, Scranton, “, Gaza, Afghanistan, Iraq, Rafah

☆ As Social Security's funds face insolvency, experts say these are key factors to watch
▼ + stars: | 2024-05-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Phoenix Wang | Moment | Getty ImagesA new Social Security trustees report released on Monday provides a modest bright spot for the program. watch nowThe trust fund shortfall may be addressed through tax increases, benefit cuts or by taking funds from general revenues, he said. But Social Security is poised to be an issue in the upcoming House, Senate and presidential campaigns, he said. Here are some key revelations to note from this year's Social Security trustees report. If there is a major recession, many workers who are at the margin may apply for disability benefits, he said.

Persons: Wang, Jason Fichtner, Fichtner, Max Richtman, Laura Haltzel Organizations: Social Security, Center, Committee, Budget, National Committee, Preserve Social Security, Social, Congressional Research Service

☆ A soft landing will be tough to achieve, and inflation has hit lower-income Americans hard, Citi CEO Jane Fraser says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

A "soft landing" scenario is unlikely for the US economy, Citi CEO Jane Fraser said. "We're seeing a much more cautious low-income consumer," Fraser said. AdvertisementIt's going to be tough for the US to stick an economic soft landing, and rampant inflation is hitting lower-income Americans hard, Citi CEO Jane Fraser said. "It's hard to get a soft landing," Fraser told CNBC on Monday. Yet, Fraser cautioned against declaring a soft landing was a done deal.

Persons: Jane Fraser, Fraser, —, Gary Shilling, Roukaya Ibrahim Organizations: Citi, Service, CNBC, Federal Reserve

☆ Warren Buffett says one question posed by AI has stumped economists for a century
▼ + stars: | 2024-05-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."

Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ Citigroup CEO Jane Fraser says low-income consumers have turned far more cautious with spending
▼ + stars: | 2024-05-06 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Citigroup CEO Jane Fraser said Monday that consumer behavior has diverged as inflation for goods and services makes life harder for many Americans. Fraser, who leads one of the largest U.S. credit card issuers, said she is seeing a "K-shaped consumer." "We're seeing a much more cautious low-income consumer," Fraser said. That means Americans must live with higher rates for credit card debt, auto loans and mortgages for longer. "It's hard to get a soft landing," the CEO added, using a term for when higher rates reduce inflation without triggering an economic recession.

Persons: Jane Fraser, Fraser, CNBC's Sara Eisen Organizations: Citigroup, Federal Reserve

☆ Gaza Isn’t Root of Biden’s Struggles With Young Voters, Polls Show
▼ + stars: | 2024-05-06 | by ( Charles Homans | Neil Vigdor | ) www.nytimes.com time to read: +1 min

Young Americans’ outrage over the Israel-Hamas war has dominated the political conversation for weeks. But these headlines are not reflective of young voters’ top concerns this election year, according to recent polls. Surveys taken in recent months show young voters are more likely to sympathize with Palestinians in the conflict, but few of them rank the Israel-Hamas war among their top issues in the 2024 election. Like other voters, young people often put economic concerns at the top the list. And while young voters are cooler to Mr. Biden than they were at the same point in 2020, there is little evidence that American support for the Israeli invasion of Gaza is a critical factor in their relative discontent.

Persons: Biden, Donald Trump, Joe Biden, ”, Devon Schwartz Organizations: Democratic, Republican, Columbia University, University of Texas Locations: Israel, Gaza, Austin

☆ Turkey suspended trade with Israel pending a permanent cease-fire in Gaza. Here's what that could mean for Israel.
▼ + stars: | 2024-05-05 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Turkey has suspended trade with Israel, demanding a cease-fire in Gaza. AdvertisementTurkey halted trade with Israel last week, demanding a permanent cease-fire in Gaza and criticizing Western influence in the war. That's a significant portion of Israel's trade, according to recent trade data. Though they didn't name the United States, Turkish leaders also called out the West's tolerance and support of the war. The United States abstained from the vote, sparking sharp dissent from Israeli President Benjamin Netanyahu.

Persons: Israel, —, Tayyip Erdogan, Benjamin Netanyahu, Netanyahu, Joe Biden, Erdogan Organizations: Service, Israel, Israel Defense Forces, Reuters, MIT Media Lab, United Nations, United Locations: Turkey, Israel, Gaza, Rafah, That's, China, United States

☆ The fall of Gucci was inevitable
▼ + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.

Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia

☆ Tim Cook gets real about China
▼ + stars: | 2024-05-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Still, CEO Tim Cook believes there's still "work to do" in bolstering sales to its major market. "I think it has been and is the most competitive market in the world," Cook said regarding China. AdvertisementApple CEO Tim Cook says there's still more work to do on the China front. While overall iPhone sales were down 10% year-over-year, CEO Cook noted that Apple "still saw some growth" on iPhone in China, specifying that "two best-selling smartphones in urban China" are the iPhone 15 and iPhone 15 Pro Max. "I feel good about China, I think more about long term than to the next week or so," Cook told CNBC in an interview before earnings.

Persons: Tim Cook, there's, Cook, —, Max Organizations: Apple, Service, Counterpoint Research, Huawei, CNBC, Business Locations: China, Shanghai

☆ UK to suffer slowest growth of all rich nations next year, OECD says
▼ + stars: | 2024-05-02 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The U.K.'s "sluggish" growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to new forecasts from the Organisation for Economic Cooperation and Development. The downbeat prediction comes as the global economy shows signs of recovery, with growth forecast to remain steady at 3.1% in 2024, before rising modestly to 3.2% in 2025. "We start seeing some recovery in many parts of the world," Alvaro Pereira, director of the OECD's policy studies branch, told CNBC's Silvia Amaro Thursday. Growth among advanced nations next year is set to be led by North America, which Pereira said follows "strong growth" forecasts of 2.6% in the U.S. in 2024. Growth in Europe, meanwhile, is expected to pick up next year after a sluggish 2024.

Persons: Alvaro Pereira, CNBC's Silvia Amaro Thursday, Pereira Organizations: Organisation for Economic Cooperation, Development, North Locations: Germany, Paris, Canada, France, Japan, U.S, North America, Europe

☆ Linde's guidance leaves investors wanting more. We're saying thanks to the sellers
▼ + stars: | 2024-05-02 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Shares of Linde fell on Thursday after the industrial gas giant reported mixed first-quarter results and its guidance left some investors wanting more. We're not sure of the rationale for excluding it but that explains why we're not fretting about Linde's lack of guidance raise. Guidance For the second quarter, Linde projects adjusted EPS between $3.70 and $3.80, which implies 5% to 7% year-over-year growth, excluding currency impacts. As always with Linde, the midpoint of the guidance assumes no economic improvement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Linde, —, Sanjiv Lamba, Matthew White, White, Lamba, Eaton, We're, we're, Jim Cramer's, Jim Cramer, Jim, Michaela Rehle Organizations: Linde, Revenue, LSEG, Products, Management, LIN, Nvidia, CNBC Locations: Munich, Pullach, Germany

☆ Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russia needs to keep its war with Ukraine going or risk an economic hard landing, Elina Ribakova wrote for the Financial Times. The country's military industry has been a major driver of structural economic strength during the war. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But while this may look good on paper, the country is actually at risk of a hard landing if war efforts cease, Elina Ribakova said. For decades," Ribakova wrote.

Persons: Elina Ribakova, Ribakova, —, Vladimir Putin, That's Organizations: Financial Times, Service, Financial, International Monetary Fund, Peterson Institute for International Locations: Russia, Ukraine, Russian, Moscow

☆ Here's a point-by-point rundown on why we're buying more of 3 portfolio stocks
▼ + stars: | 2024-05-02 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

We are buying 50 shares of Stanley Black & Decker at roughly $84.38, 25 shares of Linde at $416.58, and 50 shares of TJX Companies at $94.82. Shares of TJX Companies are down since peaking at $101 in March. When consumers push back on price, it doesn't mean they want lower-quality goods, it means they want a better value — what TJX Companies offers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stanley Black, Decker, Jim Cramer's, Linde, we're, We're, We've, Jim Cramer, Jim Organizations: Stanley, Linde, TJX Companies, SWK, LIN, TJX, Management, Starbucks, CNBC

Israeli Prime Minister Benjamin Netanyahu has long sought relations with Saudi Arabia, home of Islam’s holiest sites, as the move could domino across the wider Muslim world. The first component includes a package of agreements between the US and Saudi Arabia, another component has the normalization of relations between Saudi Arabia and Israel, and a third component for a pathway to a Palestinian state. The subsequent Israeli assault on Gaza, which has left the enclave in ruins and killed more than 34,000 Palestinians, may have changed the parameters of the deal for Saudi Arabia, analysts say. However, there has been no indication that the Biden administration would opt to bypass Congress for the bilateral agreement with Saudi Arabia to pass. Saudi Arabia is rich in uranium deposits and has insisted on being able to enrich it domestically, which would be a first for an Arab state.

Persons: Benjamin Netanyahu, Matthew Miller, ” Miller, Antony Blinken, ”, Blinken, Prince Mohamed bin Salman, Netanyahu, Biden, Prince Faisal bin Farhan, Israel, Lindsey Graham, ” Graham, Firas Maksad, “, Jamal Khashoggi, ” Maksad, Crown Prince, Karen Young, Edward J, Markey Organizations: CNN, State, Saudi, State Department, Abraham Accords, Israel, MBS, Saudi Foreign, Republican, Senate, Bahrain, Biden, Strategic Outreach, Middle East Institute, Washington DC, Congress, Washington Post, Crown, Columbia University’s Center, Global Energy, Neighboring United, Democratic, Nuclear Weapons, NATO Locations: Saudi Arabia, United States, Israel, Iran, Russia, China, Palestinian, Gaza, ”, Riyadh, Saudi, Washington, Turkey, “ Saudi Arabia, Emirates, Bahrain, U.S

☆ Sorry, America, it's looking like higher interest rates are going to stick around longer
▼ + stars: | 2024-04-30 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The Federal Reserve is expected to once again hold interest rates steady on Wednesday. Some predictions also do not forecast any interest rate cuts until the second half of the year. AdvertisementIt's probably still not time for the nation's central bank to cut interest rates just yet. AdvertisementGiven that inflation is still above the Fed's 2% target, it's looking like rate cuts might not come until the second half of 2024. "Inflation has continued to run hot and there is no compelling need for the Fed to cut interest rates until they're comfortable with where inflation is headed."

Persons: Powell, —, It's, Julia Pollak, Jerome Powell, Gregory Daco, Greg McBride Organizations: Federal, Service, Fed Locations: Washington

☆ CNN Poll: Trump maintains lead over Biden in 2024 matchup as views on their presidencies diverge
▼ + stars: | 2024-04-28 | by ( Jennifer Agiesta | ) edition.cnn.com time to read: +9 min

Overall, 92% of Republicans call Trump’s time in office a success, while just 73% of Democrats say Biden’s has been a success so far. Among independents, 51% say Trump’s presidency was successful, while only 37% see Biden’s as a success. Those voters who say the economy is deeply important break heavily for Trump in a matchup against Biden, 62% to 30%. In the Biden vs. Trump matchup, the poll finds Biden faring worse than in previous CNN polls among the youngest voters, trailing Trump by a 51%-to-40% margin among voters younger than 35. But the poll finds that Biden voters and Trump voters largely just don’t understand each other.

Persons: Donald Trump, Joe Biden, Biden’s, Trump, That’s, Trump’s, it’s, Biden, Robert F, Kennedy Jr, Cornel, Jill Stein, Kennedy, Stein, SSRS, CNN’s Ariel Edwards, Levy, Ed Wu Organizations: CNN, SSRS, Biden, Capitol, Republicans, Trump, Supreme Court, Hamas, Democratic, GOP, Cornel West, Green Party, Fox News, Pew Research, Surveys Locations: Israel, Gaza, Washington, Trump

☆ The Fed will only cut rates when it's panicking over a recession and a market crash, Black Swan investor says
▼ + stars: | 2024-04-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Investors should be wary of coming Fed rate cuts, Black Swan investor Mark Spitznagel warned. That's because the Fed is only cutting rates in response to a weakening economy, Spitznagel told Reuters last week. The US could see a recession and major stock crash before rates head lower, he predicted. That's because the Fed is only likely to ease monetary policy when the economy is slammed with a recession and the market is flailing, according to famous "Black Swan" investor Mark Spitznagel. "There are lag effects when you reset interest rates like we had."

Persons: Black Swan, Mark Spitznagel, Spitznagel, —, Swan, Nassim Taleb Organizations: Reuters, Service, Federal Reserve, Universa, Federal, National Association of Business Economics, Investor

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