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☆ People are too optimistic about the prospect of many rate cuts, says Mercatus' Veronique De Rugy
▼ + stars: | 2024-06-28 | 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 EmailPeople are too optimistic about the prospect of many rate cuts, says Mercatus' Veronique De RugyVeronique De Rugy, political economy chair at the Mercatus Center, Ben Harris, Brookings Institution economic policy director, and CNBC's Steve Liesman join 'Squawk Box' to react to May's PCE report and more.

Persons: Mercatus, Veronique De Rugy Veronique De Rugy, Ben Harris, Steve Liesman Organizations: Mercatus, Brookings, PCE

☆ Why some people feel good about their bank accounts but bad about the economy
▼ + stars: | 2024-04-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

A recent Wall Street Journal poll of American voters in swing states found that while people think the national economy is in bad shape, they feel good about their personal finances. In Gallup polling from last April, just 16% rated the economy as “good” or “excellent,” but 45% said their personal finances were “good” or “excellent.”But according to available data the economy has improved. But the dichotomy between how people feel about their own finances and the economy at large presents a different conundrum. It’s important to look at consumer behavior and not just sentiment when determining how Americans feel about the economy, said Harris. Those behaviors signal that Americans, overall, actually feel pretty good about their economy.

Persons: New York CNN — Nathan Frederiksen, “, ”, ” Frederiksen, It’s, “ We’ve, I’ve, ” He’s, —, Wisconsin —, Joe Biden, Ben Harris, else’s, ” Harris, Harris, Jonathon Barricklow, Barricklow, we’d, Dave Koloskee, he’ll, Megan McCoy, we’re, ” McCoy, Julie Levitch, Suze Orman, she’s, I’m, ’ ”, ‘, they’re Organizations: New, New York CNN, CNN, Gallup, Economic, Brookings, Bureau of Labor Statistics, Facebook, Kansas State University, “, Finance, LinkedIn Locations: New York, Boise , Idaho, Arizona, Georgia, Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, it’s, United States, Bowling Green , Ohio, East, Europe, Erie , Pennsylvania, Scottsdale , Arizona

☆ Robie Harris, Often-Banned Children’s Author, Is Dead at 83
▼ + stars: | 2024-02-05 | by ( Adam Nossiter | ) www.nytimes.com time to read: 1 min

Robie Harris, a children’s book author and former teacher whose writing about sexuality made her among the most banned authors in America, died on Jan. 6 in Manhattan. Her death, in a hospital, was confirmed by her sons David and Ben Harris. Ms. Harris’s most well-known book, “It’s Perfectly Normal: Changing Bodies, Growing Up, and Sexual Health” (1994), with its explicit illustrations, has been pulled from library shelves all over the country and has regularly made the American Library Association’s list of Frequently Challenged Children’s Books. The book has been fought over from Virginia to Idaho, with detractors calling it pornography and supporters saying it is merely a frank and honest guide to sexuality for children and teenagers. It is geared for children 10 and up.

Persons: Robie Harris, David, Ben Harris, Ms, Harris’s, “ Organizations: American Locations: America, Manhattan, Virginia, Idaho

☆ It does feel like perceptions are changing around the economy, says Brookings' Ben Harris
▼ + stars: | 2024-01-23 | 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 EmailIt does feel like perceptions are changing around the economy, says Brookings' Ben HarrisLanhee Chen, Hoover Institution fellow, and Ben Harris, Brookings Institution economic policy director, join 'Squawk Box' to discuss the state of the 2024 race, how big of a factor the economy will play, and more.

Persons: Brookings, Ben Harris Lanhee Chen, Ben Harris Organizations: Hoover Institution, Brookings

“It’s an ongoing effort,” said White House chief of staff Jeff Zients. “Under his leadership, we’ve attacked inflation from every angle.”The question is whether voters are feeling the improvement and will reward Biden. Or will they penalize him because inflation became a problem on his watch as the U.S. emerged from pandemic shutdowns? Past and current Biden administration officials say the decline in inflation since then was a result of a set of choices. Much of the public saw inflation through the lens of their grocery stores, strip malls and gas stations, but the White House considered it a worldwide issue.

Persons: Joe Biden, he's, Biden, ”, Jeff Zients, we’ve, Jason Smith of Missouri, Donald Trump, ” Trump, “ We're, Bharat Ramamurti, shutdowns, “, Jared Bernstein, White, Ben Harris Organizations: WASHINGTON, White, Bureau of Labor Statistics, Biden, Federal Reserve, House, National Economic Council, Congressional, Medicare, Factories, Shipping, White House Council, Economic Advisers, White House, U.S, Republican, Treasury Department, Associated Press, NORC, for Public Affairs Locations: “, U.S, Los Angeles, Long Beach , California, Russia, Ukraine, Israel, Red

☆ Not surprised by Moody's negative U.S. outlook, former economic advisor to Biden says
▼ + stars: | 2023-11-14 | 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 EmailNot surprised by Moody's negative U.S. outlook, former economic advisor to Biden saysBen Harris, VP and director of economic studies at the Brookings Institute and former U.S. assistant secretary of the Treasury for Economic Policy, discusses the U.S. economy and political landscape.

Persons: Biden, Ben Harris Organizations: Brookings Institute, Treasury, Economic

☆ The End of the Magic World’s 50-Year Grudge
▼ + stars: | 2023-07-08 | by ( David Segal | More About David Segal | ) www.nytimes.com time to read: +2 min

The science fiction author Arthur C. Clarke wrote that “any sufficiently advanced technology is indistinguishable from magic,” and today magic and technology are merging. He still prefers nondigital methods, though, which he attributes in no small part to the influence of Mr. Geller. Mr. Money-Coutts first met Mr. Geller in 2003. A student at the British prep school Eton who was a budding magician, he invited Mr. Geller to perform for 700 gobsmacked schoolboys. Mr. Geller had relocated to Britain by then, having spent 12 tumultuous years in the United States, most of them in New York City.

Persons: Arthur C, Clarke, ”, Alice Pailhès, Volodymyr Zelensky, Randi, Ben Harris, Drummond, Coutts, conjurer, Midjourney, Pope Francis, Geller, Mr Organizations: Magic, Netflix, Eton Locations: Ukraine, Britain, United States, New York City

☆ Why Spending Cuts Likely Won’t Shake the Economy
▼ + stars: | 2023-05-29 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

The deal averted default, but it hindered what was already a slow recovery from the Great Recession. The debt deal that President Biden and Speaker Kevin McCarthy have agreed to in principle is less restrictive than the one President Barack Obama and Speaker John Boehner cut in 2011, centered on just two years of cuts and caps in spending. The economy that will absorb those cuts is in much better shape. “The most important impact is the stability that comes with having a deal,” Mr. Harris said. “Markets can function knowing that we don’t have a cataclysmic debt ceiling crisis looming.”

WASHINGTON, May 1 (Reuters) - JPMorgan Chase & Co's (JPM.N) deal to buy First Republic Bank pushed the Biden administration into a corner, leaving officials scrambling to explain how their stance against mergers squared with allowing the largest U.S. bank to get even bigger. At a White House event on small business on Monday, President Joe Biden hailed the sale of the troubled San Francisco-based lender, saying it would protect all depositors and avert a government bailout. "A poorly supervised bank was snapped up by an even bigger bank — ultimately taxpayers will be on the hook," Warren tweeted. "No recent administration has done more to promote competition, address (the) concentration process across industries," she told a White House briefing. Jean-Pierre added that Biden administration officials valued the fact that community banks offer services to those who might not otherwise have banking access.

REUTERS/Sergei Karpukhin/File PhotoHOUSTON, Feb 16 (Reuters) - Russia's decision to cut crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, Ben Harris, a U.S. Treasury Department Assistant Secretary, said on Thursday. Russia's Deputy Prime Minister Alexander Novak last week said it would voluntarily cut production beginning next month following the start of Western price caps on Russian oil and oil products on Feb. 5. Poland, Latvia, Lithuania and Estonia have pushed for lowering the crude oil cap. There have been no American companies involved in trading Russian oil above the price cap, he said. Phillips 66's (PSX.N) Chief Executive Mark Lashier said the company's base assumption is that Russia's crude and oil products will find their way into the marketplace.

Here are the known and unknowns so far:WHO'S IN THE PRICE CAP COALITION? Britain said Thursday it could ban countries from using its services to transport Russian oil purchased for a price exceeding the cap. WHAT WILL THE PRICE CAP LEVEL BE? Moscow could end up cutting production as a result, which would apply upward pressure on global oil prices. Worries about potential sanctions, even if unfounded, can cause traders to avoid deals, another factor that can boost oil prices.

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