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☆ Biden’s trade chief walks back comments contradicting Biden on tariffs and inflation
▼ + stars: | 2024-05-16 | by ( Matt Egan | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise. The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation. “The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation. It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected. Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.

Persons: Katherine Tai, Joe Biden’s, ” Tai, —, Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, “, Alex Durante, Tai’s “, Maury Obstfeld, Biden, ”, Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly Organizations: New, New York CNN, US, White, Research, CNN, US International Trade Commission, “, China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, ”, Colorado Gov, Republicans, Asset Management Locations: New York, China, Ukraine, EVs, Europe

☆ TikTok ban will be signed into law, unlikely China will allow for divestiture: Ed Mills
▼ + stars: | 2024-04-19 | 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 EmailTikTok ban will be signed into law, unlikely China will allow for divestiture: Ed MillsEd Mills, Raymond James Washington policy analyst, joins 'Closing Bell Overtime' to talk the recent House vote on Israel and Ukraine aid, the TikTok ban folded in, and more.

Persons: Ed Mills Ed Mills, Raymond James Washington Locations: China, Israel, Ukraine

☆ Partial government shutdown looms: Here's what you need to know
▼ + stars: | 2024-02-27 | 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 EmailPartial government shutdown looms: Here's what you need to knowEd Mills, Raymond James Washington policy analyst, joins 'The Exchange' to discuss the likelihood of a partial government shutdown, what implications a partial shutdown can have, and more.

Persons: Ed Mills, Raymond James Washington

☆ How empty office space became the new bogeyman on Wall Street
▼ + stars: | 2024-02-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

And yet Wall Street is suddenly freaking out about bad real estate loans and empty office buildings. One regional lender — New York Community Bancorp — has seen its stock price implode and its credit rating slashed to junk in part because of its exposure to bad office loans. Japan’s Aozora Bank startled investors by blaming bad loans linked to US offices for a projected loss. That’s a major problem for an industry like real estate known for piling on debt. Importantly, Zandi said these bank failures will be limited to smaller lenders — the ones sitting on suddenly shaky office loans.

Persons: —, ” they’re, It’s, ”, Ed Mills, Raymond James, gameplan, Paul Volcker, That’s, Spencer Platt, ” Alessandro DiNello, NYCB, Powell, Janet Yellen, Jerome Powell, “, ” Mills, Mark Zandi, ” Zandi, Zandi, ” Banks Organizations: New, New York CNN, —, York Community Bancorp, Japan’s, Bank, Federal Reserve, Fed, Regulators, New York Community Bancorp, York Community Bank, Getty, Moody’s, CNN Locations: New York, sweatpants, Washington, Brooklyn, New York City

☆ Doesn't appear that Trump will lose the 2024 GOP presidential nomination, says Ed Mills
▼ + stars: | 2024-01-22 | 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 EmailDoesn't appear that Trump will lose the 2024 GOP presidential nomination, says Ed MillsEdward Mills, Washington Policy Analyst at Raymond James, discusses the 2024 presidential race following Ron DeSantis' end to his campaign.

Persons: Trump, Ed Mills Edward, Raymond James, Ron DeSantis Organizations: Washington Locations: Ed Mills Edward Mills

☆ New tax package should fuel economy and add to soft landing conversation: Raymond James' Ed Mills
▼ + stars: | 2024-01-19 | 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 EmailNew tax package should fuel economy and add to soft landing conversation: Raymond James' Ed MillsEd Mills, Raymond James Washington policy analyst, joins 'Closing Bell Overtime' to talk a pending tax package and the impact it could have on the economy.

Persons: Raymond James, Ed Mills Ed Mills, Raymond James Washington

☆ Largest Starbucks strike in history is planned for Thursday. It shows US labor unrest isn’t over yet
▼ + stars: | 2023-11-16 | by ( Chris Isidore | Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

But the union said the limited duration strike on a key promotion day for Starbucks is important in its efforts to win their first contract at the chain. The union, Starbucks Workers United, won its first representation vote at the company in December 2021, at a store in Buffalo, New York. But many of the stores on strike remained open in past strikes, because management replaced the unionized striking workers with workers from nearby non-union stores and managers. That’s possible because of the close proximity of many Starbucks stores to one another. The union earlier this fall filed an unfair labor practice charge with the NLRB over Starbucks’ refusal to bargain around promotion days.

Persons: haven’t, Moe Mills, Mills, “, ” Mills, ” Organizations: New, New York CNN, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, CNN, National Labor Relations Board, NLRB, Red, Kaiser Permanente, Los Angeles, Teamsters, UPS, Michigan, Boeing Locations: New York, Buffalo , New York, St, Louis , Missouri, Kaiser, Detroit, East Coast

☆ Government shutdown odds diminish if Scalise becomes speaker, says Raymond James' Ed Mills
▼ + stars: | 2023-10-11 | 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 EmailGovernment shutdown odds diminish if Scalise becomes speaker, says Raymond James' Ed MillsEd Mills, Raymond James Washington policy analyst, joins 'The Exchange' to discuss the latest Republican nomination for House Speaker, voter division among House Republicans, and the likelihood of a third candidate coming forward.

Persons: Raymond James, Ed Mills Ed Mills, Raymond James Washington Organizations: House Republicans

☆ As more colleges are promising high schoolers guaranteed admission, 'everybody wins,' expert says
▼ + stars: | 2023-10-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Sonoma State University Courtesy: Sonoma State UniversityTo help make college a reality, Sonoma State University is trying a relatively new approach: High school students who have completed the requisite coursework and have a minimum 2.5 high school GPA are now "guaranteed admission" to the Rohnert Park, California-based school. Last spring, the State University of New York sent automatic acceptance letters to 125,000 graduating high school students. College enrollment is droppingSonoma State University Courtesy: Sonoma State UniversityStill, fewer students are going to college. More high schoolers want career trainingMost Americans still agree a college education is worthwhile when it comes to career goals and advancement. High schoolers are putting more emphasis on career training and post-college employment, the nonprofit found after polling more than 5,000 high school students six times since February 2020.

Persons: Ed Mills, Mills, Robert Franek, Franek, Lakhani, Doug Shapiro, Cole Clark, Connie Livingston Organizations: Sonoma, Sonoma State University, California State University, Finance, Princeton, Virginia Commonwealth University, State University of New York, Sonoma State University Still, Nationwide, CNBC, National Center for Education Statistics, Student Clearinghouse Research, College Board, Public, USA, ECMC Group, Junior Achievement, Citizens, Brown University Locations: , California, Sonoma State, Richmond , Virginia, New York, U.S

☆ Who might replace McCarthy as speaker and what it means for markets
▼ + stars: | 2023-10-04 | 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 EmailRaymond James analyst on who might replace Kevin McCarthy as House speaker and likely market impactEd Mills of Raymond James discusses House Speaker Kevin McCarthy's ousting and says there's a "much higher chance" of a US government shutdown in November.

Persons: Raymond James, Kevin McCarthy, Ed Mills, Kevin McCarthy's

☆ The U.S. is nearing a government shutdown. What that means for stocks and how we're playing it
▼ + stars: | 2023-09-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The U.S. is just days from a federal government shutdown at 12:01 a.m. Goldman Sachs put the chances of a shutdown at 90%, saying it could last around two to three weeks. "In the seemingly unlikely event Congress passes a short-term extension, we would still expect a shutdown sometime later in Q4," which begins on Monday. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Morgan Stanley, Raymond James, Ed Mills, Jim Cramer, Jerome Powell, What's, Moody's, It's, Goldman Sachs, we've, Jim Cramer's, Jim, Brendan SMIALOWSKI, BRENDAN SMIALOWSKI, Brendan Smialowski Organizations: Capitol, United Auto Workers, General Motors, Chrysler, Ford, Reserve, Fed, Social Security, AAA, Jim Cramer's Charitable, CNBC, Republican, Getty, Afp Locations: Central, U.S, Washington ,, AFP

☆ Government shutdown looms: What investors need to know
▼ + stars: | 2023-09-25 | 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 EmailGovernment shutdown looms: What investors need to knowEd Mills, Raymond James Washington policy analyst, joins 'The Exchange' to discuss why he believes the markets will be unaffected by the potential government shutdown, what investors need to know, and more.

Persons: Ed Mills, Raymond James Washington Organizations: Government

☆ The stock market reaction to government shutdowns may surprise you
▼ + stars: | 2023-09-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

But surprisingly, the stock market has historically gone up when the government shuts down, according to Raymond James. "Markets are largely unaffected in the lead up to a shutdown, and on average continue to rise in the 30 days following the resolution of a shutdown," Mills said. Other sectors in the broad market index that have had historically strong showings during shutdowns include communications services, consumer staples and technology. Ultimately, a government shutdown will not likely create lasting effects in the market, according to Raymond James. Not only are Democrats and Republicans on different pages, but Republicans are also not singing from the same sheet of music as other Republicans," Mills said.

Persons: Raymond James, Ed Mills, Mills, Biden, furloughs, — CNBC's Michael Bloom Organizations: Energy, Congress, Republican, Representatives, Freedom Caucus, Congressional Democrats, Senate Republicans, Senate Democrats, Caucus, Republicans Locations: U.S, Ukraine

☆ Trump-Biden rematch will revolve around big economic issues, says Raymond James' Ed Mills
▼ + stars: | 2023-09-05 | 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 EmailTrump-Biden rematch will revolve around big economic issues, says Raymond James' Ed MillsEd Mills, Raymond James Washington policy analyst, joins 'Squawk on the Street' to discuss the upcoming deadline for a congressional budget resolution, the Biden Administration's effort to de-escalate tensions with China, and expectations for the upcoming presidential nominees.

Persons: Biden, Raymond James, Ed Mills Ed Mills, Raymond James Washington Organizations: Trump Locations: China

☆ As cracks emerge in Russia, US plots fresh sanctions to crank up pressure on Moscow
▼ + stars: | 2023-08-24 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Washington plans to keep piling pressure on Russia through additional sanctions in a bid to force hard choices in Moscow, a senior US official tells CNN. The preparations of further economic punishments come as cracks emerge in Russia’s economy and society because of the war in Ukraine and sanctions from the West. The scramble in Russia to shore up the crumbling ruble shows the pressure on Moscow is working, the senior US official told CNN. The United States has steadily imposed sanctions on Russia and the US official said Washington plans to continue doing so in a bid to ramp up pressure. Former CIA director David Petraeus argues now is the time for the United States to crank up the pressure on Russia.

Persons: . Wagner, Yevgeny Prigozhin, Putin, David Petraeus, “, ” Petraeus, Petraeus, ”, Ed Mills, Raymond James, Mills, Biden Organizations: New York CNN Business —, CNN, ., US, United, Washington, CIA, KKR Global Institute Locations: New York CNN Business — Washington, Russia, Moscow, Ukraine, United States, South Africa, Washington, United

☆ India set to ban sugar exports for first time in 7 years, Reuters reports
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: +1 min

Sacks of refined sugar are stacked at a wholesale store in New Delhi on May 25, 2022. India is the world's biggest sugar exporter after Brazil and restricted exports to protect its own food supplies. "For the upcoming season, we will not have enough sugar to allocate for export quotas." India allowed mills to export only 6.1 million tonnes of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million tonnes last season. In 2016, India imposed a 20% tax on sugar exports to curb overseas sales.

Persons: Sacks Locations: New Delhi, India, Brazil, New York, London, Maharashtra, Karnataka

[1/2] Sugar mill workers load harvested sugar cane in a tractor trolly in Sangli district, in the western state of Maharashtra, India, December 3, 2022. India allowed mills to export only 6.1 million tonnes of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million tonnes last season. In 2016, India imposed a 20% tax on sugar exports to curb overseas sales. Patchy rains would cut sugar output in the 2023/24 season and even reduce planting for the 2024/25 season, an industry official, who declined to be named, said. The recent increase in sugar prices eliminates any possibility of exports," said another government source.

Persons: Rajendra Jadhav, Mayank Bhardwaj, Barbara Lewis Organizations: REUTERS, Rights, Thomson Locations: Sangli district, Maharashtra, India, Rights MUMBAI, DELHI, New York, London, Karnataka, New Delhi, Mumbai, Thailand, Brazil

U.S. Capitol police stand outside the Capitol building as the Senate votes on debt ceiling legislation to avoid a historic default at the U.S. Capitol in Washington, U.S., June 1, 2023. Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills. With the downgrade it becomes the second major rating agency after Standard & Poor’s to strip the United States of its triple-A rating. Investors use credit ratings to assess the risk profile of companies and governments when they raise financing in the debt capital markets. Other analysts had pointed to the risk that another downgrade by a major rating agency could affect investment portfolios that hold top-rated securities.

Persons: Evelyn Hockstein, Fitch, Joe Biden, Janet Yellen, Biden, Karine Jean, Pierre, Keith Lerner, Raymond James, Ed Mills, Mohamed El, Davide Barbuscia, Jyoti Narayan, Lewis Krauskopf, Saeed Azhar, Megan Davies, Arun Koyyur, David Gregoiro, Gerry Doyle Organizations: Capitol, U.S, REUTERS, White, AAA, Standard, Democratic, Republican, Treasury, Advisory Services, ” Treasury, Fitch, AA, Queens ' College, Thomson Locations: Washington , U.S, States, United States, Atlanta, New York, Bengaluru

☆ Mills: Yellen's visit to China is a way to build confidence between Washington and Beijing
▼ + stars: | 2023-07-06 | 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 EmailMills: Yellen's visit to China is a way to build confidence between Washington and BeijingEd Mills, Raymond James Washington Policy Analyst, discusses what Treasury Secretary Janet Yellen can reasonably achieve through her four-day visit to China, amid rising tensions with the U.S. and the West.

Persons: Beijing Ed Mills, Raymond James Washington, Janet Yellen Organizations: U.S Locations: China, Washington, Beijing

☆ Louisiana Lawmakers Pass Ban on Transition Care for Transgender Minors
▼ + stars: | 2023-06-07 | by ( Rick Rojas | ) www.nytimes.com time to read: +4 min

Republican lawmakers resuscitated the bill after a previous attempt failed at the committee level. youthIf the measure becomes law, Louisiana would join 17 states that have enacted bans or severe restrictions this year on access to transition care for minors, all part of a broader effort by conservative lawmakers to regulate the lives of transgender or gender-nonconforming young people. The state has an estimated 4,000 transgender teenagers, according to a report published last year by the Williams Institute, an L.G.B.T.Q. Under the terms of the bill, young people already receiving this treatment would be allowed to temporarily continue it to avoid an abrupt halt, but that window would close at the end of 2023. The bill, he said at the time, “was going to become law whether or not I signed it or vetoed it.”

Persons: Gabe Firment, Critics, Fred Mills, Mills, Edwards —, —, “, ” Organizations: Republican, Democrats, Republicans, ”, Health, Welfare, Associated Press, Louisiana Legislature, Williams Institute, University of California, Louisiana Department of Health Locations: Louisiana, Los Angeles

☆ Mills: The risk of default is off the table, the new concern is all the new debt Treasury will issue
▼ + stars: | 2023-06-01 | 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 EmailMills: The risk of default is off the table, the new concern is all the new debt Treasury will issueRaymond James' Ed Mills discusses the next steps for the debt ceiling bill in the Senate, and whether passage of the measure could be delayed past the so-called X date on June 5th.

Persons: Raymond James, Ed Mills Organizations: Senate

Reflecting investor optimism about passage, the cost of insuring exposure to a U.S. debt default dropped on Tuesday, but some concerns remained because of the tight timeline and opposition from some lawmakers. Last week, credit rating agency Fitch placed its "AAA" rating of U.S. sovereign debt on watch for a possible downgrade, citing downside risks including political brinkmanship and a growing debt burden. In a previous debt ceiling crisis in 2011 rating agency Standard & Poor's cut the U.S. top 'AAA' rating by one notch a few days after a debt ceiling deal, citing political polarization and insufficient steps to right the nation's fiscal outlook. "Even if a U.S. default is averted, a ratings downgrade could still happen," Vishwanath Tirupattur, a strategist at Morgan Stanley, said in a research note on Sunday. Some also fear a debt ceiling resolution could only provide short-term relief to markets because the U.S. Treasury is expected to quickly refill its account with bond sales, sucking out hundreds of billions of dollars of cash from the market.

Persons: Joe Biden, Kevin McCarthy, Fitch, Raymond James, Ed Mills, Alex Anderson, Vishwanath Tirupattur, Morgan Stanley, Spokespeople, Blair Shwedo, Davide Barbuscia, Shankar Ramakrishnan, Pete Schroeder, Megan Davies, David Gregorio Our Organizations: YORK, Democratic, Republican, U.S . Treasury Department, BMO Capital Markets, AAA, Moody's, U.S . Treasury, Thomson Locations: U.S

☆ Analysis: Why we may need a stock market plunge to solve the debt ceiling crisis
▼ + stars: | 2023-05-22 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

They know how it ends: with politicians waiting until the last minute before giving in and finally raising the debt ceiling before disaster strikes. On Friday, it looked like the White House and Republicans were getting closer to a deal on the debt ceiling before talks unexpectedly broke down. In 2011, the most serious near-default in American history, markets experienced volatility in the days and weeks before Washington reached a last-minute deal to raise the debt ceiling. None of this is to say markets are completely ignoring the debt ceiling drama today. The debt ceiling is a manufactured crisis that officials could have dealt with months ago.

☆ Janet Yellen told bank CEOs more mergers may be necessary, sources say
▼ + stars: | 2023-05-19 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —During Thursday’s meeting with the CEOs of large banks, Treasury Secretary Janet Yellen told executives that more bank mergers may be necessary as the industry continues to navigate through a crisis, two people familiar with the matter told CNN. However, sources tell CNN that bank mergers were discussed during Yellen’s meeting with bank CEOs. Yellen echoed remarks from US regulators who have said there may be bank mergers in the current environment, one person familiar with the matter said. Yet earlier this month, regulators allowed JPMorgan Chase, the nation’s largest bank, to buy most of First Republic, the second-largest bank to fail in US history. Michael Hsu, acting comptroller of the currency, told lawmakers earlier this week that his agency would be willing to quickly consider bank mergers.

☆ Mills: There's a ton of pressure to get a debt ceiling deal done if Treasury's cash balance drops
▼ + stars: | 2023-05-19 | 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 EmailMills: There's a ton of pressure to get a debt ceiling deal done if Treasury's cash balance dropsRaymond James' Ed Mills discusses the latest developments in the debt ceiling talks, what a potential deal may look like and whether June 1st is the actual "X Date" deadline.

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