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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed hasn't done enough to 'kill' the consumer in inflation fight, says Stifel's Lindsey PiegzaLindsey Piegza, Stifel chief economist, joins 'Squawk Box' to discuss the Fed's decision to hold rates steady, Fed Chair Powell's comments on the lack of progress on fighting inflation, whether a rate hike will be needed at some point this year, and more.
Persons: Stifel's Lindsey Piegza Lindsey Piegza
Why the Fed expects more bank failures
  + stars: | 2024-05-01 | by ( Andrea Miller | Hugh Son | Christina Locopo | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Fed expects more bank failuresOf about 4,000 U.S. banks analyzed by the Klaros Group, 282 banks face stress from commercial real estate exposure and higher interest rates. The majority of those banks are categorized as small banks with less than $10 billion in assets. "Most of these banks aren't insolvent or even close to insolvent. They're just stressed," Brian Graham, Klaros co-founder and partner at Klaros. "That means there'll be fewer bank failures.
Persons: They're, Brian Graham, Klaros Organizations: Fed, Klaros
His creditors also do not trust that he is being honest about the assets he does disclose. For example, Mr. Giuliani lists among his assets an undisclosed number of shares in Uber, the ride-share service. Lawyers for the creditors say he provided them a more detailed account, but it was not filed publicly in the court, as missing details typically are. And as of April 26, Mr. Giuliani had not provided details for his Discover card charges in January. One of the two Georgia election workers he defamed, Shaye Moss, was selected by Mr. Giuliani’s creditors to serve on a three-person committee to represent their interests throughout the bankruptcy case.
Persons: Giuliani, , , ” Bruce, Shaye Moss, Noelle Dunphy, Mr, Lindsey Kurtz Organizations: Uber, New York Yankees, Pritzker, American Express, Dominion Voting Systems Locations: U.S, Georgia
CNN —Donald Trump will make his most concentrated effort yet to turn his criminal trial into a political asset in the next two days, heading from the courtroom to the campaign trail and back again. Not surprisingly, a majority of Democrats feel that Trump is being treated more leniently than others, while a majority of Republicans think the opposite. But there’s also a risk Trump’s loose tongue out on the trail could get him into trouble following his alleged violations of Merchan’s gag order. They were also tied in Pennsylvania, a third swing state Biden flipped from Trump four years ago. Trump is following a similar playbook as he fuses his criminal defense as a supposed victim of partisan persecution with his political offensive for a White House comeback.
Persons: Donald Trump, Trump, They’ve, Michael Cohen, Trump’s, Stormy Daniels, Joe Biden, Juan Merchan, he’s, , , , David Pecker, Matthew Colangelo, Todd Blanche, It’s, Biden, there’s, “ I’m, Republican Sen, Lindsey Graham of, Joe Biden’s, Mike Johnson Organizations: CNN, White, Trump, Conservative Political, Republicans, Biden, Republican, White House, CBS News, Sunday, GOP, Democratic, Capitol, Democratic Party, Columbia University, National Guard Locations: New York, Wisconsin, Michigan, Trump, Georgia, Florida, North Carolina, Bedminster , New Jersey, Lindsey Graham of South Carolina, “ State, Pennsylvania, Waukesha , Wisconsin, Gaza, Charlottesville , Virginia, Washington
More than half, 55%, of all Americans say they see Trump’s presidency as a success, while 44% see it as a failure. Four years ago, he was able to assail Trump’s time in office from his position as a challenger. Biden won all three in 2020 after Trump won them in 2016 in his victory over Democratic nominee Hillary Clinton. In the poll, 92% of Republicans view Trump’s time in office a success, while just 73% of Democrats say Biden’s has been a success. And while 85% of Democrats polled say they back Biden, 91% of Republicans say they support Trump.
Persons: Joe Biden, Donald Trump, he’s, William Barr, Trump, CNN he’d, Ron DeSantis, Biden, Robert F, Kennedy Jr, , Israel, Mike Johnson, Benjamin Netanyahu, underscoring, Hillary Clinton, South Carolina Republican Sen, Lindsey Graham, CNN’s Dana, Nikki Haley, Biden’s, CNN’s Kristen Holmes, Kit Maher, CNN’s Kaitlan Collins, Trump . Barr, Trump’s, Chris Sununu, Haley, , Georgia —, ” Biden, He’s, Colin Jost, , ” Jost, Washington Hilton Organizations: CNN, GOP, Republican Party, Florida Gov, Trump’s, Democratic, Columbia University, National Guard, Israel, DeSantis, CBS, Biden, Trump, Trump ., South Carolina Republican, South Carolina Gov, New, New Hampshire Gov, , White, Republican, Washington Locations: New York, Gaza, Manhattan, Rafah, Michigan , Pennsylvania, Wisconsin, “ State, New Hampshire, Georgia, Ukraine, Russia, Israel, American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy so many U.S. cities are in financial troubleSpending cuts are occurring across many U.S. cities as inflation lingers and pandemic-era stimulus dries up. At least 53 major cities have debt obligations that outstrip assets, according to an estimate from Truth in Accounting. The nonprofit group estimates higher debt burdens than many public officials acknowledge because of allegedly underreported retiree benefits. The rising public debt may potentially leave future generations on the financial hook for decisions made by today's leaders.
Organizations: today's Locations: U.S
Lindsey and David Barber save 75% to 80% of their income for retirement and their son's future. Despite having enough to retire early, the millennial couple plans to keep working. AdvertisementLindsey Harrison Barber, 34, and her husband, David Barber, 35, have enough to retire early, but neither intends to slow down. Lindsey owns a marketing agency, while David owns an insurance agency, which bring in a combined eight figures in top-line revenue. Some are part of the FIRE movement — financial independence, retire early — though others are moving away from early retirement, whether to continue building generational wealth or transitioning to lower-stress roles that still give them something to do.
Persons: Lindsey, David Barber, they've, , Lindsey Harrison Barber, David, we've, we're, he's, hasn't, they're, she'll, they'll Organizations: Service, Business, North Carolina Locations: North Carolina , Texas , Kentucky, Ohio, Lindsey, North Carolina
In recent weeks, Trump, seizing the role of both an erstwhile diplomat and ascending opposition party leader, has extended welcomes to a series of foreign leaders at his homes in Florida and New York. It’s not unusual for foreign leaders to meet with the leader of the party that doesn’t control the White House – especially one with a serious chance of becoming commander in chief. Biden and his top envoys have also met and spoken with opposition leaders, something that has been a longstanding practice for US officials. Last week, Trump met with Poland’s Duda at Trump Tower, where the two discussed NATO spending over dinner. Trump, both while president and during his 2024 campaign, has called on NATO countries to spend more on defense.
Persons: Donald Trump, hasn’t, Trump, Andrzej Duda, David Cameron, Saudi Crown Prince Mohammed bin Salman, Taro Aso, It’s, Sen, Barack Obama, Mitt Romney, Biden, Sviatlana Tsikhanouskaya, Antony Blinken, Keir Starmer, Joe Biden, “ They’re, he’s, , Vladimir Putin, Xi Jinping, ” Biden, , Kim Jong Un, ” Trump, Brian Hughes, Viktor Orban, Putin, Javier Milei, Orban, Viktor Orbán, Orbán, Aso, Fumio Kishida, Kishida, Lindsey Graham, Salman, King Hamad bin Isa Al Khalifa, Poland’s Duda, Duda, meanwhile, Cameron, Karen Pierce, Cameron’s, Pierce didn’t, Queen Elizabeth II Organizations: CNN, Air Force, British, Saudi Crown, Middle East, Republican, UK Labour Party, US State Department, Biden, Trump, NATO, Conservative Political, Japanese, White, Liberal Democratic Party, Saudi, New York Times, South Carolina Republican, Hamas, The New York Times, Trump Tower, Republicans, Democrats, UK Locations: House, huddling, Florida, New York, Lago, Manhattan, Japan, China, North Korea, Berlin, United Kingdom, Israel, Poland, Belarus, Munich, Europe, America, Ukraine, Korean, United States, Palm, Saudi Arabia, Bahrain, American, Russia, British, Washington
The Senate passed a bill to provide aid to Ukraine, Israel, and Taiwan — and force a sale of TikTok. Republicans opposed the Ukraine aid, while some Democrats took issue with Israel aid. Republicans generally voted against the package because of their long-standing opposition to Ukraine aid, while Democrats opposed the bill over the lack of conditions on Israel aid. AdvertisementThat included a vote on a nearly $61 billion Ukraine aid bill, a more than $26 billion Israel aid bill, Taiwan aid, and a bill that combined an amended version of a previously approved TikTok bill that was combined with a bill allowing the US to seize Russian assets to pay for Ukraine aid. Related stories37 House Democrats voted against Israel aid, while 112 House Republicans voted against Ukraine aid.
Persons: , Joe Biden's, Mike Johnson, Donald Trump, Sen, Lindsey Graham of, Bernie Sanders, Vermont Jeff Merkley, Oregon Peter Welch of Organizations: Service, Republicans, Ukraine, Democratic, Republican Locations: Ukraine, Israel, Taiwan, Lindsey Graham of South Carolina, Vermont, Oregon, Oregon Peter Welch of Vermont
Sitting together last month, Graham and MBS spoke with Trump for roughly five minutes, two people familiar with the call told CNN. The call encapsulates how Trump looms over an agreement that US, Israeli and Saudi officials all see as vital to achieving lasting stability in the Middle East. Graham informed Biden officials of the call between MBS and Trump and says they understand why he wants to keep Trump in the loop. With the election looming and the region engulfed by turmoil over Israel’s war in Gaza, the window of opportunity is rapidly shrinking, people involved in the negotiations told CNN. “I think President Trump understands this is building on what he did,” Graham told CNN.
Persons: South Carolina Republican Sen, Lindsey Graham, Prince Mohammad Bin Salman, — Donald Trump, Graham, Joe Biden, Salman, Biden’s, Trump, Abraham, Biden, Donald Trump, Saudi Crown Prince Mohammed bin Salman, Evan Vucci, , ” Trump, “ They’re, That’s, , ” Graham, Jamal Khashoggi, Sen, X.com Graham, Bibi Netanyahu, Benny Gantz, Jake Sullivan, Amos Hochstein, Antony Blinken, Jake, ” CNN’s Alex Marquardt Organizations: CNN, South Carolina Republican, Biden Administration, Trump, Saudi, Abraham Accords, Saudi Crown, White, MBS, New York Times, Biden, Republican, Graham, Saudi Press Agency, Israel, President’s National, US Locations: Saudi Arabia, Israel, Iran, Saudi, Palestine, Bahrain, UAE, Washington, Gaza, Riyadh, NATO, Palestinian
The CMO role at several companies, including Walgreens, Uber, and Starbucks, has been eliminated. A 2023 McKinsey report found that 40% of Fortune 500 companies don't have a CMO or another growth- or customer-related position in their CEO's executive committee. But role models like Rare Beauty's CMO, Katie Welch, offer young marketers hope for the profession's future. "Businesses that are eliminating the CMO role or pulling it into something else, the leadership in those companies don't see the value of marketing," she said. "She knows how to market to Gen Z," Hyams said.
Persons: , Katie Welch, Piper Phillips, Piper Phillips Piper Phillips, Phillips, I've, Natasha Badger, Badger, Katie Welch Lindsey Hyams, Lindsey Hyams, Hyams, Z, Welch, Vijat Organizations: Service, Walgreens, Uber, Starbucks, McKinsey, Fortune, Business, Tru, LinkedIn, Lindsey Hyams Industry Locations:
How floodplain buyouts work
  + stars: | 2024-04-22 | by ( Lindsey Jacobson | Jason Reginato | Christina Locopo | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow floodplain buyouts workThe U.S. government is buying up and destroying American homes. Homeowners in the floodplain are choosing to voluntarily sell their doomed properties to the government. Since 1989, FEMA has helped fund around 45 to 50,000 home buyouts. FEMA is estimated to have spent somewhere around $4 billion on the project so far but that's just a fraction of the total amount spend on buyouts, since there are programs outside of FEMA. But not everyone is convinced buyouts are a good idea.
Organizations: Homeowners, FEMA Locations: U.S
How your skin reacts tells you whether the dark circles are caused by thinner under-eye skin or pigmentation. Related storiesFor thin skin, Zubritsky told BI that products with hyaluronic acid should help hydrate and plump the skin. AdvertisementBoth she and Penzi suggested Neutrogena Hydroboost Eye Gel Cream, and Penzi also recommended First Aid Beauty Hydrating Eye Cream with Hyaluronic Acid. If you deal with puffiness, "it's important to look for under-eye creams with ingredients like caffeine," Zubritsky said, because caffeine constricts blood vessels and improves circulation. Advanced Eye, Neutrogena Hydro Boost+ Caffeine Eye Gel Cream, and CeraVe Skin Renewing Eye Cream as all options with caffeine in them.
Persons: , Dr, Lindsey Zubritsky, Zubritsky, Lauren Penzi, Penzi, dermatologists, Bliss Organizations: Service, Business, L'Oreal Paris, Triple, Neutrogena Hydro Locations: Pennsylvania, New York
'I have no regrets'Andrea Jones accepted a floodplain buyout for her home in the Charlotte, North Carolina, area. CNBCAndrea Jones, 59, sold her home in the Charlotte, North Carolina, area in a floodplain buyout. On average, federal buyouts can take two to five years, though 80% of the FEMA acquisitions are approved in less than two years. Jones' buyout was delayed by the pandemic, but once she started the process up again in May 2022, things moved quickly. In addition to FEMA, the U.S. Department of Housing and Urban Development and many state and local communities fund floodplain buyouts.
Persons: Siders, Andrea Jones, CNBC Andrea Jones, Jones, Andrea Jones Jones, they're, Mathew Sanders, Sanders Organizations: Federal Emergency Management Agency, FEMA, University of Delaware's, Program, CNBC, Finance, Charitable, Congressional Research Service, U.S . Department of Housing, Urban Development Locations: Charlotte , North Carolina
Gen Zers are in their boycott era, turning against anything that doesn't align with their beliefs. But McGoff said Gen Zers wanted their workplace to align politically — so they had to talk about it. Getty ImagesGabrielle Yap, who's 26, said Gen Zers grew up in a time when information was available at their fingertips 24/7. "The company's public stance on these points, as well as the managers' views, affect the organization's capacity to hire Gen Zers," he said. It was a 2018 survey by Deloitte, not Deloitte's 2023 Gen Z and Millennial Survey.
Persons: Zers, , there's, Gen, Z, Gen Zers, Karim Adib, Omar Taleb, Zer, George Floyd, Erin McGoff, McGoff, Adib, Gabrielle Yap, We've, we're, Yap, It's, Khalid Machchate, Zoomers, would've, Taleb Organizations: Service, Starbucks, McDonalds, Hyundai, HP, Siemens, Deloitte, Survey, ClickThrough, Bright Network, W Technology Locations: Israel, Gaza, who's, Lindsey, Africa
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhere a $100,000 salary still buys the American DreamMore than half (52%) of Americans say they would need at least $100,000 a year to be financially comfortable, according to the August 2023 CNBC Your Money Survey. It's becoming increasingly more difficult to achieve the American Dream, especially as younger generations are beginning their adulthood with thousands of dollars in student loans. Watch the video above to learn more about how much it costs to achieve the American Dream.
Organizations: Survey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Congress is regulating artificial intelligenceSome businesses using new artificial intelligence tools have reported big gains in labor productivity. These AI assistants, backed by some of the biggest names in tech, could someday change how work gets done in the U.S. As the technology shuffles up white-collar work in the U.S., some policymakers are pitching ideas like 32-hour work weeks and robot taxes. Meanwhile, other countries are banning high-risk uses of AI in sectors like education and financial services.
Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow March's CPI report could impact the Fed's interest rate policyLindsey Piegza, Stifel chief economist, joins 'Power Lunch' to discuss whether the Federal Reserve should have raised rates higher to bring inflation down, whether the Fed's next move could be a hike, and more.
Persons: Lindsey Piegza Organizations: Federal
Kristi Noem said Donald Trump was “exactly right” to want states in charge of abortion access in America. For Noem, Scott and others in consideration to become Trump’s running mate, the former president’s latest contortions around abortion present a new challenge as they compete for his attention. Trump angered several anti-abortion leaders this week by refusing to back a federal abortion ban while embracing exceptions that Republicans throughout the country have for years opposed as morally questionable. But for a party that has long defined life as beginning at conception, Trump’s latest evolution on abortion will test those aspiring to run with him. “That’s just a fact.”Rubio was an early co-sponsor of South Carolina Sen. Lindsey Graham’s bill to ban abortion nationwide 15 weeks into a pregnancy.
Persons: Kristi Noem, Donald Trump, Unaddressed, Sen, Tim Scott, , Scott, Trump, Wade, Mike Pence, , it’s, Noem, Byron Donalds, Ohio Sen, J.D, Vance, Trump’s, ” Vance, Florida Sen, Marco Rubio, Rubio, ” Rubio, “ That’s, South Carolina Sen, Lindsey Graham’s, Roe, ” Trump, Kari Lake, Marjorie Dannenfelser, Susan B, Anthony Pro, Elise Stefanik, Stefanik, ” CNN’s Kristen Holmes, Manu Raju, Kit Maher, Alison Main Organizations: CNN, South Dakota Gov, Capitol, Trump, South Carolina Republican, Indiana, Manhattan, Florida Rep, Republicans, South, Monday, Democratic, Arizona Supreme, Senate, Republican, New, Arizona Senate, America, SBA, New York Republican Locations: America, Texas, California, Ohio, Florida, South Carolina, Graham, New York, Arizona
Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021. The Environmental Protection Agency, EPA, released long-awaited regulations Wednesday on some toxic "forever chemicals" found in drinking water. The bonds are incredibly strong and take a very long time to break down, earning them the nickname "forever chemicals." The EPA's new final rule sets limits on 5 individual PFAS: PFOA, PFOS, PFNA, PFHxS, and HFPO-DA (also known as GenX Chemicals.) The EPA also set a Hazard Index level for PFAS when two or more of four are mixed: PFNA, PFHxS, HFPO-DA, and PFBS.
Persons: Tom Neltner Organizations: United States Environmental Protection Agency, Washington , D.C, Environmental Protection Agency, EPA, CNBC, Environmental Defense, Safer Chemicals, . Geological Survey, GenX Chemicals Locations: Washington ,
CNN —Interim head coach Twila Kilgore said that the US Women’s National Team will only keep improving after winning a fifth straight SheBelieves Cup in a dramatic penalty shootout against Canada. Goalkeeper Alyssa Naeher made three saves and scored a penalty in the shootout after Tuesday’s game in Columbus, Ohio, ended 2-2. We have a growth mindset, we’re getting better, and like I said at Gold Cup, this team is just getting started.”The victory marked the US’ seventh SheBelieves Cup title and fifth in a row after previous wins against Spain, Brazil, Iceland and Japan. The victory will give the team confidence ahead of the Olympics later this year with a fifth gold medal – and first since 2012 – on the line. “I will be there to support her and the team as we move forward and that’s an exciting thing.”
Persons: Twila Kilgore, Alyssa Naeher, Adriana Leon, Sophia Smith, Smith, Trinity Rodman, Crystal Dunn, Leon, Kadeisha Buchanan, Emily Sonnett, Lindsey Horan, Naeher, Evelyne, Emily Fox, Jason Mowry, ” Kilgore, Emma Hayes, “ I’m, we’re, Jay LaPrete, Hayes, , , Kilgore Organizations: CNN, Interim, US, National Team, Canada, Getty, Chelsea, Gold, Spain, Brazil, Japan, South Locations: Columbus , Ohio, Brazil, Iceland, Japan, Canada, South Korea, Mexico, Paris
Read previewFormer President Donald Trump can't escape the issue of abortion rights. As a Florida resident, he will have the opportunity to vote on an abortion rights ballot initiative this November. Biden's campaign has also released multiple ads tied explicitly to the issue of abortion rights. "Elect me," Biden told reporters at the White House in response to a question about the Arizona ruling. Key battleground states, including Arizona and Nevada, may both have abortion rights directly on their respective ballots this November.
Persons: , Donald Trump, Trump, Marjorie Dannenfelser, Susan B, Sen, Lindsey Graham, Joe Biden's, They've, Roe, Wade, Biden's, Kamala Harris, Biden, Wade —, Jen Cox, Harris Organizations: Service, Business, South Carolina Republican, Good Republicans, Senate, White, Biden, Independents, Trump, Politico, Republican Locations: Arizona, Florida, Nevada
“But we’re not going to allow and we’re not going to fund, as long as you have the abortion going on at Planned Parenthood. Four months later, Trump signed a bill allowing states to withhold federal money from organizations that provide abortion, reversing an Obama-era regulation. “Nobody has ever done more for Right to Life than Donald Trump,” Trump said in an interview. March 19, 2024To the confusion and frustration of some within his campaign, Trump more recently had flirted with supporting a federal abortion ban at 15 weeks. “We’ll be making a statement next week on abortion,” Trump teased instead.
Persons: Donald Trump, Trump, , , Ronald Reagan, ” Trump, we’re, I’ve, Trump’s, Chris Matthews, ” Matthews, Hillary Clinton, Roe, Wade –, ’ ”, , Dobbs, Republicans didn’t, they’ve, Ron DeSantis, DeSantis, it’ll, Kellyanne Conway, South Carolina Sen, Lindsey Graham, Floridians, Wade Organizations: CNN, , Press, GOP, Trump, Republican, MSNBC, Democratic, Life, Dobbs, Jackson, WIN, LIFE, United States Supreme, Republicans, , White Locations: America, United States, Washington, South Carolina, Florida, Grand Rapids , Michigan
But this is actually exactly the type of law that Supreme Court Justice Samuel Alito referred to in the majority opinion overturning Roe v. Wade in 2022. The patchwork of access created by the Dobbs decision has created abortion rights states and abortion ban states. The decision by Arizona’s state Supreme Court to return to the 1864 law is just the latest evidence of the tortured fallout. Video Ad Feedback Arizona governor blasts ruling on abortion ban 03:07 - Source: KNXVWhat is the law in Arizona now? Democrats, nonetheless, are hoping to use the abortion rights issue to mobilize voters in November.
Persons: , Samuel Alito, Roe, Wade, , , Dobbs, Donald Trump, Trump, Arizona’s, Katie Hobbs, Ben Toma, Warren Petersen, Cindy Von Quednow, Christina Maxouris, Lauren Mascarenhas, Doug Ducey, Ron DeSantis, DeSantis, Kari Lake, Toma, Petersen, Hobbs, South Carolina Sen, Lindsey Graham Organizations: CNN, US, Jackson, Health Organization, Court, Trump, Republican, Democratic, Wade, Republican Gov, Republican Senate, South Carolina, Democrats Locations: Arizona, Florida
On Monday, Trump rejected leading anti-abortion groups' efforts to get him to endorse a nationwide abortion ban. I respectfully disagree with President Trump’s statement that abortion is a states’ rights issue. On Monday, the group's president, Marjorie Dannenfelser, said that it would work to defeat President Joe Biden. "We are deeply disappointed in President Trump's position," Dannenfelser said in a statement released by the organization. Ultimately, Trump's alliance with conservatives and anti-abortion groups was sealed by a vow to work to confirm Supreme Court justices to overturn Roe v. Wade.
Persons: , Donald Trump, Trump, Sen, Lindsey Graham, Scott, Graham, Trump’s, Dobbs, , WloOJ0ImaW — Lindsey Graham, @LindseyGrahamSC, Ron DeSantis, Susan B, Anthony Pro, Marjorie Dannenfelser, Joe Biden, Trump's, Dannenfelser, Kristan Hawkins, Hawkins, Comstock, Kamala Harris, Roe, Wade, Mike Pence, hasn't Organizations: Service, Business, Black, Republican, White, Trump, Life, New York Times, The New York Times Locations: American, Florida, Minnesota
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