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☆ What kind of 'Barbie' are you? Here are the Barbieland jobs that most real-life women hold, according to government data
▼ + stars: | 2024-03-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.

Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S

☆ Federal Reserve Chair Jerome Powell Will Help Decide the 2024 Election
▼ + stars: | 2024-03-11 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

Beyond the academic argument, whether the Fed cuts interest rates has a significant political bearing this year. Voters are unhappy about higher prices, and they feel weighed down by high interest rates, too. Interest rates may seem abstract, but they can have a real impact on how people view their financial situations. But lowering interest rates should make people feel better about economic conditions and could give Democrats and Biden a boost. He's well aware lower interest rates would boost the economy, lift people's moods, and, ultimately, help the party in charge.

Persons: Jay Powell, — Donald Trump —, Powell, Joe Biden, Patrick McHenry, McHenry, Skanda Amarnath, it's, Larry Summers, Biden, Amarnath, — Trump, Hillary Clinton's, Richard Nixon, Ronald Reagan, Paul Volcker, Volcker, shied, Trump, Elizabeth Pancotti, Sarah Binder, Binder, what's, They've, Diane Swonk, Emily Stewart Organizations: Federal, Trump, Republican, Financial Services, Fed, Roosevelt Institute, George Washington University, Reserve, KPMG US, Business Locations: North Carolina, It's, America, Roosevelt

☆ A Surprising Shift in Economics
▼ + stars: | 2023-11-16 | by ( David Leonhardt | More About David Leonhardt | ) www.nytimes.com time to read: +1 min

A then-obscure think tank named the Roosevelt Institute released a report in 2015 that called for a new approach to economic policy. It was unabashedly progressive, befitting the history of the institute, which was created by trusts honoring Franklin and Eleanor Roosevelt. National news outlets covered the report while also noting how much of a break it represented with decades of economic policy by both the Democratic and Republican Parties. American workers have become more interested in unionizing, and labor unions in both the auto industry and Hollywood have recently won big victories. “It’s very surprising this all happened,” Felicia Wong, the longtime president of the Roosevelt Institute, told me.

Persons: Franklin, Eleanor Roosevelt, Biden, ” Felicia Wong, ” Organizations: Roosevelt Institute, Democratic, Republican, Biden, Trump, Hollywood

☆ The Greased-Pig Economy: Higher Inflation, Stock Market Crash Possible
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since. But with inflation still above the Fed's goal, it's clear we need to recalibrate some on the demand side still.

Persons: it's, Jerome Powell, Mike Konczal, Konczal, we've, Price, proclivity, that's, Taylor Swift, we'd, Charles Evans, Christine Lagarde, Morgan, Jamie Dimon, Roosevelt, —, you've, Justin Simon, Jasper Capital, Linette Lopez Organizations: Consumers, Federal, Roosevelt Institute, Fed, Chicago Fed, European Central Bank, Census Locations: American, America, Jasper

☆ America is stuck in a greased-pig economy
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. And consumers were so intent on spending money to have a good time that cities let Beyoncé dictate public transit. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since.

☆ Paul Krugman says 'the war on inflation has been pretty much won — without a recession'
▼ + stars: | 2023-09-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

The economist Paul Krugman says the war on inflation is pretty much over. This points to a "Goldilocks" scenario, in which inflation cools without a recession. That's perhaps what happened last month, when core inflation was "distorted by lags in the measured price of shelter," Krugman wrote on X, formerly called Twitter. He pointed to what some call a "Goldilocks" scenario, in which inflation cools without a recession. Notably, among items seeing lower inflation, nearly three in four had an increase in the actual quantity bought by consumers.

Persons: Paul Krugman, disinflation, Krugman, Mike Konczal, Konczal, Patience Organizations: Service, New York Times, Federal Reserve Bank of Chicago, Roosevelt Institute Locations: Wall, Silicon, Ukraine

“I think there's great concern about the state of our democracy at this time,” said Mark Updegrove, CEO of the LBJ Foundation, which supports the LBJ Presidential Library in Austin, Texas. Those organizations all support presidential libraries created under the Presidential Library Act of 1955, along with the Eisenhower Foundation. The push for the joint statement was spearheaded by Daniel Kramer, executive director of the George W. Bush Institute. “America is experiencing a decline in trust, social cohesion, and personal interaction.”Valerie Jarrett, a senior adviser to former President Barack Obama who is now CEO of the Obama Foundation, said the former president supported the statement. “This is a moment where we could all come together and show that democracy is not about partisan politics,” she said.

Persons: Herbert Hoover, ”, Mark Updegrove, Updegrove, Lyndon Johnson, John F, Richard Nixon, Gerald R, Ronald Reagan, George, Barbara Bush, George W, Daniel Kramer, Kramer, “, Bill Gates, Gates, ” Kramer, ” Melissa Giller, ” Giller, ” Valerie Jarrett, Barack Obama, ” Jarrett, Obama Organizations: WASHINGTON, LBJ Foundation, LBJ Presidential, Hoover Presidential Foundation, Roosevelt Institute, Truman Library Institute, Kennedy Library Foundation, Richard, Richard Nixon Foundation, Ford Presidential Foundation, Carter Center, Ronald Reagan Presidential Foundation and Institute, Barbara, Barbara Bush Foundation, Clinton Foundation, Bush Presidential Center, Obama, Center, Eisenhower Foundation, The Eisenhower Foundation, Associated Press, Bush, Bush Institute, Ronald, Ronald Reagan Foundation and Institute, Obama Foundation Locations: Austin , Texas, loggerheads, Maricopa County, Phoenix, The, Washington ,, Chicago

☆ Get ready to see millions of Americans lose their jobs if Congress doesn't raise the debt ceiling in the next few days
▼ + stars: | 2023-05-29 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

The US could default on its debt as soon as June 5 if the debt ceiling isn't raised by then. That would translate to "7.8 million jobs lost from peak to trough," Yaros said. Other industries would see over half a million jobs lost in this scenario, including construction. "It's something closer to the 2001 recession that we had after the dot-com bubble, and you get about 1.5 million jobs lost from peak to trough," Yaros said. And 1.5 million jobs lost — that's still a huge human toll that was unnecessarily incurred."

☆ Why some Democrats think Biden shouldn't worry about legal challenges that would come from getting rid of the debt ceiling forever
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

A US default could be days away, and Congress still doesn't have a debt ceiling deal. Some Democrats think Biden should use the 14th Amendment to address the crisis. On Monday evening, McCarthy and Biden met once again to attempt to reach an agreement on raising the debt ceiling and avoiding an unprecedented default. Experts and lawmakers have said that this clause makes a default, and therefore the debt ceiling, unconstitutional, getting rid of the issue forever. Anna Moneymaker/Getty ImagesWhy Biden shouldn't worry about legal challengesNo president has ever invoked the 14th Amendment to address the debt ceiling.

☆ Veterans benefits, Social Security and Medicare payments, and SNAP could be among the first federal programs at risk if the US defaults in 10 days, a new analysis says
▼ + stars: | 2023-05-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The US could default on its debt in as soon as ten days if Congress doesn't raise the debt ceiling. The Bipartisan Policy Center estimated which federal programs would be at risk in the days following a default. Social Security and Medicare payments, veterans benefits, and SNAP could be among the first to go. In the first ten days of June, the government could be unable to afford the following programs:Bipartisan Policy Center analysis of federal programs impacted by potential debt default. "If the debt ceiling isn't raised, there will be some hard choices to make about what bills go unpaid," Yellen said.

☆ A student-loan company at the center of a lawsuit blocking Biden's debt cancellation with a 'dubious record of customer service' just got a new contract to keep servicing millions of borrowers, Cori B
▼ + stars: | 2023-05-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department awarded five student-loan companies new contracts, including MOHELA. "No company should be profiting from the student debt crisis, especially MOHELA with their dubious record of customer service in the past," she continued. "My office will continue our work to hold student loan servicers accountable for their harm to our communities. Ultimately, there is still much work to be done to provide student debt relief, bolster college affordability, and begin the transition to a world without student debt at all." As Bush referenced, MOHELA is responsible for the whole PSLF portfolio, which forgives student debt for government and nonprofit workers after ten years of qualifying payments.

☆ Factbox: Fed, FDIC reviews of US bank failures to spotlight problems, fixes
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +6 min

On Friday the banks' regulators - the Federal Reserve and the Federal Deposit Insurance Corporation - will publish their accounts of what happened at both institutions, and propose fixes to prevent a repeat. The FDIC will also publish a separate report on deposit insurance by Monday. Barr has said the Fed's report will include confidential supervisory information, including citations and exam material not typically disclosed. DEPOSIT INSURANCEThe second FDIC report could provide insight into how officials are thinking about the role of deposit insurance, currently capped at $250,000 per depositor, in financial stability. "The most interesting thing I expect to see is what the FDIC recommends about the deposit insurance cap," Phillips said.

☆ Premarket stocks: From Wile E. Coyote to edibles: Recession forecasts are getting weird
▼ + stars: | 2023-03-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +12 min

And for the US economy, it could likely mean a “Wile E. Coyote moment,” Summers said — if we run off the cliff, gravity will eventually win out. AntibioticsWhen describing the state of the economy, Summers doesn’t just rely on Looney Tunes. “Will working people be better off if we just walk away from our jobs and inflation remains 5% or 6%?” Powell replied. Before the Bell: Is it necessary to increase the unemployment rate to successfully fight inflation? In a related action, the government shut down Signature Bank, a regional bank that was teetering on the brink of collapse in recent days.

☆ Stocks week ahead: US banks sitting on unrealized losses of $620 billion
▼ + stars: | 2023-03-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

US banks were sitting on $620 billion in unrealized losses (assets that have decreased in price but haven’t been sold yet) at the end of 2022, according to the FDIC. What’s happening: Back when interest rates were near zero, US banks scooped up lots of Treasuries and bonds. The result is that most banks have some amount of unrealized losses on their books. “Unrealized losses weaken a bank’s future ability to meet unexpected liquidity needs,” he added. Before the Bell: Do we need unemployment to rise in order to ease inflation rates?

☆ How universities became giant piggy banks for hedge-fund billionaires
▼ + stars: | 2023-03-08 | by ( Catherine Liu | ) www.businessinsider.com time to read: +14 min

The move also marked the beginning of a new way to manage endowment funds. The arrangement has been a boon for the hedge-fund managers who received university endowment cash, but the benefits for the schools are trickier to parse. As Eaton put it in his book, universities directed funds to "wherever those allocations would generate the largest further investment returns." Eaton estimated in 2017 that tax breaks for university endowments cost federal coffers up to $19 billion a year. As the influence of billionaires and hedge-fund managers has grown, universities have moved further away from their ultimate goal: educating people.

☆ The US economy has been 'more than fine' without your student debt
▼ + stars: | 2023-03-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Her story shows the extra juice that delaying — or as some would argue, canceling — student debt can provide to people's lives and the economy as a whole. "If we cancel student debt, what that really means is the federal government is choosing not to collect payments from debtors on the debt that's already issued," Steinbaum said. Biden's student loan bailout will cost every taxpayer, even those who never went to college, at least $2,500." But to be clear, we don't have the most concrete data about the effects of student loan relief — since, well, it hasn't been done. Do you have a story to share about student debt?

☆ Companies raising prices to get ahead of skyrocketing costs was one of the biggest drivers of surging inflation, a new study shows
▼ + stars: | 2023-01-18 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Over the past two years, soaring inflation has hit Americans in their wallets. Some pointed to soaring inflation as a byproduct of corporate greed, as firms took advantage of the economic environment to rake in record profits. Even across industries that had "very different relative demand and inflation rates" throughout 2021, markup growth remained pretty much the same. Throughout 2021, companies saw their profits soar, pocketing their highest margins since December 1950. They added that "this suggests that the source of high markup growth in recent years was not a steady increase in monopoly power."

☆ Yellen sees key role for Treasury's racial equity council despite Republican criticism
▼ + stars: | 2022-12-06 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 5 (Reuters) - U.S. Treasury Secretary Janet Yellen on Monday said a new racial equity advisory committee, which has drawn the ire of Republican lawmakers, would play a big role in helping the department address acute economic disparities faced by communities of color. Yellen told the inaugural meeting of the 25 members of the Treasury Advisory Committee on Racial Equity that the Biden administration remained focused on ensuring that disadvantaged communities were no longer left behind in the U.S. economy. "The Treasury Advisory Committee on Racial Equity will play a major role in our effort," she said. Yellen in 2021 named Janis Bowdler, a Latina activist and former head of the philanthropic arm of JPMorgan Chase & Co (JPM.N), as the department's first-ever counselor for racial equity. A spokesperson for Brady said the lawmakers had not yet received a reply from Yellen or the Treasury.

☆ It's looking more likely that any recession next year will be shallow and manageable
▼ + stars: | 2022-11-10 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

That's a slowdown from the year-over-year increase of 8.2% in September, and below the 8.0% increase economists surveyed by Bloomberg expected to see. And core CPI, which excludes volatile food and energy prices, saw a year-over-year increase of 6.3% in October, below September's year-over-year increase of 6.6%. This inflation data comes amid concerns of a looming recession, and debates on how bad of an economic downturn it will truly be. Any recession that comes will be mildAs Insider previously reported, a 2023 recession will look unlike any recession Americans have recently experienced, and the latest inflation data and strong jobs report bolster that sentiment. And looking forward, declining inflation levels are likely to shape the Fed's December decision on hiking interest rates.

☆ The inflation-employment conundrum, with AEI's James Pethokoukis & Roosevelt Institute's Mike Konczal
▼ + stars: | 2022-11-01 | 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 EmailThe inflation-employment conundrum, with AEI's James Pethokoukis & Roosevelt Institute's Mike KonczalJames Pethokoukis, economic policy analyst at the American Enterprise Institute, and Mike Konczal, director of macroeconomic analysis at the Roosevelt Institute, join 'Power Lunch' to discuss Fed policy decisions, the importance of getting inflation under control and the timeline for a potential pivot.

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