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China's stimulus rally will be short-lived: AEI's Derek Scissors
  + stars: | 2024-09-26 | 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 EmailChina's stimulus rally will be short-lived: AEI's Derek ScissorsBill Bishop, publisher of the Sinocism China Newsletter, and Derek Scissors, Asia economist at the American Enterprise Institute, join CNBC's 'The Exchange' to discuss China's recent stimulus package, how long its rally can last, and more.
Persons: Derek Scissors Bill Bishop, Derek Scissors, CNBC's Organizations: American Enterprise Institute Locations: China, Asia
Men have been steadily dropping out of the workforce, especially men ages 25 to 54, who are considered to be in their prime working years. According to the U.S. Bureau of Labor Statistics, the unemployment rate for prime-age working men was 3.4% in August 2024. But about 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared with just 2.5% in 1954. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. Watch the video above to find out why men are increasingly leaving the workforce.
Persons: Nicholas Eberstadt, Jeff Strohl, Carol Graham, you've Organizations: U.S . Bureau of Labor Statistics, American Enterprise Institute . Education, Center, Education, Workforce, Georgetown University, Pew Research Center, Brookings Institution
It sounds like the setup to a lightbulb joke: How much does it cost to change a microwave bulb? While my lightbulb situation may be somewhat unique, experts say it is not uncommon to learn the cost of repairs is more than the cost to replace an appliance. Figuring out the cost for a repairMy first call to repair our microwave was to the appliance store where I made the purchase. Several states — including California, Maine, Massachusetts, Minnesota and New York — have implemented so-called "right to repair" laws. Some products designed 'with a hostility to repair'Consumer advocates say state laws and the FTC actions help, but haven't solved the problem.
Persons: Stephanie Dhue's, Stephanie Dhue, Gay Gordon, Byrne, Gordon, they're, Nathan Proctor, we've, Alex Reinauer, Proctor Organizations: GE, GE Appliances, U.S ., Getty Images, Federal Trade Commission, Competitive Enterprise Institute, Consumer, FTC Locations: California , Maine , Massachusetts, Minnesota, New York, Colorado, Oregon, South Dakota, France
We will ultimately eliminate the federal Department of Education,” he said earlier this month during a rally in Wisconsin. Previously, federal education programs were housed in other agencies. Ending the department may not eliminate federal education fundingFederal funding programs for K-12 schools that help support the education of students from low-income families and children with disabilities predated the creation of the Department of Education. Calls to abolish the Department of Education or merge it with another federal agency are not new. When Trump was president, his administration proposed merging the Education and Labor departments into one federal agency.
Persons: Donald Trump, Trump, , I’m, , ” Trump, Kamala Harris, ” Harris, Jimmy Carter, Pell, Joe Biden’s, Frederick Hess, Marguerite Roza, ” Roza, Ronald Reagan Organizations: Washington CNN —, Department of Education, of Education, Democratic National Convention, National Education Association, Department, Education’s, IDEA, Civil, Joe Biden’s Department of Education, Obama, Education, American Enterprise Institute, , Georgetown University, Brookings Institution, Republican, Labor, Republicans Locations: Wisconsin, Georgia, Israel
Read previewAn elite Navy SEAL unit may be preparing Taiwanese forces for reconnaissance operations and missions to repel a Chinese invasion, retired Navy officers said after a report said the unit had been training for such an eventuality for over a year. AdvertisementAccording to three retired Navy officers, the unit may be training Taiwanese soldiers to fight back against China should it invade Taiwan. One, he told BI, "is training Taiwanese forces in reconnaissance and perhaps direct attack, focusing on missions that might be required to defeat a Chinese invasion." "Naval reconnaissance forces would locate Chinese forces for long-range attacks," he said, adding: "They might also launch attacks against offshore ships or shipping in Chinese ports." Reports have already given clues as to how the US is preparing for a possible Chinese invasion of Taiwan.
Persons: , Osama bin Laden, Mark Cancian, Bradley Martin, Sam Tangredi, Graeme Thompson, Joe Biden, Samuel Paparo, Martin, Cancian, Daniel Ceng, Phil Davidson, Davidson, Feng Hao, Paparo, Frank Kendall, Kendall Organizations: Service, Navy SEAL, Financial Times, Business, Navy, Marine, Center for Strategic, International Studies, US Navy, Getty, Eurasia Group, Wall Street Journal, Reuters, International Institute for Strategic Studies, Pacific Command, Washington Post, Congressional Research Service, Senate Armed Services Committee, Theater Command, PLA, China Military, Anadolu, American Enterprise Institute, Institute for, Japan's Nikkei, RAND Corp, US Air Force, Air & Space Forces Association Locations: Virginia, Taiwan, Afghanistan, Yemen, Syria, Somalia, Pakistan, China, People's Republic of China, Pingtung County, AFP, Washington ,, Australia, United States, Taichung, Anadolu, Pacific
Many said he failed to acknowledge the real reason many grandparents don't help with childcare more: They can't afford to. Many American families are stuck between a retirement crisis and a childcare crisis, with young parents unable to help their own parents — and vice versa. The childcare crisis meets the retirement crisisSandra, 51, has been dealing with both childcare and eldercare challenges over the past year. "And that would help parents who want to stay home and care for kids; it would also help grandparents who want to help care for kids while their parents are working." AdvertisementRachidi also said that revisiting the usefulness of regulations around informal care — settings like friend and family care — should be on the table, too.
Persons: Linda C, Donald Trump, Joe Biden, Sen, JD Vance, Linda, I'd, Vance, Trump, she's, , Taylor Van Kirk, Van Kirk, Sandra, grandpa, Elliot Haspel, Haspel, Kamala Harris, Jennifer Baker, they'd, that's, Baker, who's, Angela Rachidi, Rowe, Rachidi, Connie Adler, Adler, Vance's Organizations: Service, Democratic, Business, AARP, Capita, American Enterprise Institute, asheffey Locations: California, Sweden, Arizona
In fact, the Biden administration recently imposed its own set of tariffs, while extending ones first levied during the Trump administration. Take the tariffs the Trump Administration imposed on washing machines in 2018. The washing machine tariffs were part of a broad new tariff regime Trump imposed in an effort to protect American workers from anti-competitive Chinese trade practices. It resulted in what is generally viewed as a “trade war” involving retaliatory tariffs imposed on American goods. The White House gave a rationale similar to the Trump administration when it announced its tariffs.
Persons: Kamala Harris, Donald Trump, Trump, ” Trump, ” Harris, Biden, Harris, , There’s, , ” Biden, Douglas Irwin, ” Irwin, ” Sen, Sherrod Brown, Sen, Tom Cotton, Nick Iacovella, , ” Iacovella, Davis Organizations: GOP, Democratic, Tax, Trump, Coalition for, Prosperous, White, American Enterprise Institute, Federal, “ Ohio steelworkers, “ Workers, Administration, U.S . Steel, Harvard University, University of California Locations: China, Prosperous America, U.S, Mexico, Ohio , New York, Ohio
Read previewA Navy SEAL unit that killed Osama bin Laden is busy preparing for a possible Chinese invasion of Taiwan, the Financial Times reported, citing people familiar with the preparations. SEAL Team 6, an elite military special missions unit, has spent more than a year planning and training for a potential Chinese invasion of the island at its Dam Neck base in Virginia Beach, per the FT. People familiar with its planning did not provide details to the FT about what specific missions it is preparing for. These include the rapid modernization of its armed forces over the past two decades, and drills around Taiwan. According to a June report from the American think tank RAND Corp, the US — if it decided to defend Taiwan from a Chinese invasion — may have to do it alone as several of its biggest allies are unlikely to commit troops.
Persons: , Osama bin Laden, Osama bin, Phil Davidson, Adm, Samuel Paparo Organizations: Service, Navy SEAL, Financial Times, Business, Operations Command, Pentagon, Department of Defense, American Enterprise Institute, Institute for, Pacific, Japan's Nikkei, RAND Corp Locations: Taiwan, Virginia Beach, Afghanistan, Yemen, Syria, Somalia, Pakistan, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt'd be 'reasonable' for the Fed to cut rates by 50 basis points next week: Former Fed board memberSteven Kamin, senior fellow at the American Enterprise Institute, and a former director of the Division of International Finance at the Federal Reserve Board, says "the economy is slowing somewhat and inflation is clearly on the way down," and discusses the political implications of a potential 50-basis-point interest rate cut.
Persons: Steven Kamin Organizations: Fed, American Enterprise Institute, Division of International Finance, Federal Reserve Board
Held by Russia Kyiv UKRAINE PokrovskHow Russia’s Steady Advance Threatens Ukraine’s EastRussia is closing in on a key city in Ukraine’s East in one of the fastest advances for its military since the early days of the war. RUSSIAN ADVANCES Myrnohrad Rail lines Pokrovsk Hrodivka Ocheretyne Russian forces are closing in on a key rail and road hub. Novohrodivka Russian gains since June 1 Held by Russia before June 1 Selydove Avdiivka Russian advances are threatening to encircle Ukrainian troops here. Front line on June 1 RUSSIAN ADVANCES Pokrovsk Novohrodivka Russian gains since June 1 Selydove Rail lines Russian advances are threatening to encircle Ukrainian troops here. Front line on June 1 RUSSIAN ADVANCES Pokrovsk Hrodivka Novohrodivka Russian gains since June 1 Selydove Rail lines Russian advances are threatening to encircle Ukrainian troops here.
Persons: Selydove, Myrnohrad, Avdiivka, Pokrovsk, Pokrovsk Hrodivka, Chasiv Yar, Bakhmut, Yar, DONBAS, Vladimir V, Putin Organizations: Russia Kyiv, Donetsk, American, Planet Labs, Institute for, Russia Kharkiv Locations: Russia, Russia Kyiv UKRAINE, Ukraine’s East, Pokrovsk, Ukraine, Russian, Kurakhove, Chasiv, Kursk, Russia Kharkiv Russia, Avdiivka Donetsk
Getting F-16s and long-awaited weaponsDelays in getting Western equipment have long been a source of frustration for Ukraine. Western allies lifted some restrictions in May, allowing Ukraine to strike Russian troops building up at its borders. AdvertisementTaking the war inside RussiaThe biggest change this year is that Ukraine altered the dynamics of the conflict by launching a surprise attack on Russia's Kursk region. In just two weeks, starting on August 6, Ukraine claims its forces took more territory in Kursk than Russia had since the beginning of 2024. Ukraine is "losing territory and may suffer a breakthrough," Benjamin Friedman, policy director at the Defense Priorities think tank, told BI.
Persons: , Abishur Prakash, Volodymyr Zelenskyy, Zelenskyy, Volodymyr Zelenskyi, Vitalii, Mark Temnycky, it's, Gabrielius Landsbergis, Ukraine wouldn't, Mark Cancian, year's, Putin, Joe Biden, Benjamin Friedman, Michael Kofman, Rob Lee, Prakash Organizations: Service, Russia, Republican, Business, Inc, Reuters, Army Tactical Missile Systems, Getty, Council's Eurasia, Times, Institute for, American Enterprise, Air Assault Brigade, REUTERS, US Marine Corps, Center for Strategic, International Studies, CNN, Defense, Carnegie Endowment, International Peace, Foreign Policy Research Institute, Foreign, Kyiv Locations: Ukraine, Russia, Russian, Kursk, Toronto, Kharkiv, London, Russia's Kursk, Malaya Loknya, Kursk Region, REUTERS Russia, Kyiv
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Read previewUkraine's Kursk offensive shows what the country could achieve if its allies dropped their weapons restrictions, a leading European official said. It's also complicated Russian plans for offensive operations later this year, Ukraine's military spymaster, Kyrylo Budanov, told Ukrainian radio station Radio Charter on Saturday, per a translation by the Institute for the Study of War. Western allies lifted some restrictions in May, allowing Ukraine to strike Russian troops building up at its borders, but it's still not allowed to use Western weapons to carry out deep strikes . "There's no one capability that will, in and of itself, be decisive in this campaign," Austin said, per Politico.
Persons: , Marko Mihkelson, Mihkelson, Gen, Oleksandr Syrskyi, Syrskyi, It's, Kyrylo Budanov, it's, Volodymyr Zelenskyy, Defense Lloyd Austin, Austin Organizations: Service, West, Estonia's Foreign Affairs, Business, CNN, Radio, Institute for, Ramstein, American Enterprise, Defense Locations: Kyiv, Ukraine, Ukrainian, Russia's Kursk, Russia, Kursk, Pokrovsk, Western, Germany
Since Harris replaced President Joe Biden as the Democratic nominee, Trump has constantly attempted to portray her as weak on immigration and crime. On Friday, Harris also chose not to mention mass deportation during a radio interview with Univision, when the host asked her to summarize her argument to undecided Hispanic voters. “There is a way in which those [crime and immigration] issues in particular are also about bigger things,” said Adrianne Shropshire, executive director of BlackPAC, a group working to mobilize Black voters for Harris and Democrats. And many of those voters might recoil from these Trump policies on crime and immigration if they heard more about them. “What he is hoping is that the Black voters who he is [courting] don’t see that stuff,” Shropshire said.
Persons: Kamala Harris, Donald Trump, Trump, Harris, Joe Biden, Gary Segura, UnidosUS, Segura, Ohio Sen, JD Vance, Stephen Miller, Miller, Michael Ettlinger, Goldman Sachs, Jeffrey Passel, Passel, Rudolph Giuliani, Michael Bloomberg, Black, Ed Chung, Vera Action, Tim Walz, Trump’s, she’s, surrogates, , Adrianne, , ” Segura, ” Tom Wong, Wong, ” Wong, Daniela Gilbert, That’s, Biden, Gilbert, ” Gilbert, ” Anthony Baber, Baber, “ Trump, ” Baber, ” Harris, She’s, Chung, , Dana Bash, , Daniel Cox, BlackPAC Organizations: CNN, Democratic, Unidos, , White, Trump, of Police, National Guard, University of New, Carsey, of Public, Boston Globe, Pew Research Center, New York Police Department, Minnesota Gov, Univision, Black, GOP, US Immigration, Center, University of California, America’s, Marquette Law School, Religion Research Institute, Detroit, Whites, Survey Center, American Enterprise Institute Locations: California, Wisconsin, Texas, New York City, Phoenix, Las Vegas, Philadelphia, Atlanta, Savannah, Adrianne Shropshire, San Diego, United States, CNN’s, Michigan, Pennsylvania, Shropshire, ” Shropshire
Mapping Ukraine’s Surprise Invasion of Russia
  + stars: | 2024-08-23 | by ( Josh Holder | ) www.nytimes.com   time to read: +6 min
Mapping Ukraine’s Surprise Invasion of RussiaAfter two and a half years of fighting a war on their own soil, Ukrainian forces are continuing to advance within Russia, as their surprise invasion of the Kursk region enters its third week. RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed. UKRAINIAN TROOPS Guyevo UKRAINE Sumy 5 miles RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed. UKRAINIAN TROOPS Guyevo UKRAINE Sumy 5 miles RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed. UKRAINIAN TROOPS Guyevo UKRAINE Sumy 5 miles RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed.
Persons: Oleksandr Syrsky, Volodymyr Zelensky Organizations: Korenevo, American, Institute for, Labs, Planet Labs, Military, Kremlin Locations: Russia, Kursk, Ukraine, RUSSIA Ukraine, UKRAINE Sumy, UKRAINIAN, Washington, RUSSIA, UKRAINE RUSSIA, UKRAINE, Glushkovo, U.S, Pokrovsk, Niu
In this article DHILENPHM Follow your favorite stocks CREATE FREE ACCOUNTShareholder returns for top homebuilders D.R. Horton and Lennar outpaced the wider S&P 500 between August 2014 and August 2024. Quintero's research suggests lower levels of competition among homebuilders may contribute to the U.S. housing shortage. "The supply shortage that we have estimated [is] anywhere from 2 [million] to 8 million. Some people put it at even 20 million housing units that we are short," said Tobias Peter, co-director of the American Enterprise Institute's Housing Center.
Persons: LEN PHM, Horton, Lennar, LEN, Luis Quintero, Tobias Peter, Margaret Whelan, Whelan Organizations: Industry, Johns Hopkins University Carey School of Business, American Enterprise Institute's Housing Locations: United States, California, Texas
Desmond Lachman, a former IMF deputy director, says there are "plenty of reasons to worry" about the US economy in the months ahead. Another risk is the prospect of a second Trump presidency, given his proposed policies around tariffs and taxes, Lachman said. Advertisement"There are a huge number of risks," Lachman said. "The Fed could cut interest rates midmeeting but that would be because the sky was falling. But if the sky is not falling, the Fed doesn't want to give the impression that the sky is falling," Lachman said.
Persons: Desmond Lachman, Lachman —, Lachman, Trump, , France Organizations: Service, Business, Lachman, American Enterprise Institute, AEI, Trump, EU Locations: China, Israel, Gaza, Lebanon, Palestine, Iran, France, Italy, Europe
While it waits to amass the ammunition, manpower, and resources to launch a large-scale, well-timed counteroffensive, Ukraine should experiment with ways to take the initiative and gain momentum, war analysts say. "Ukrainian forces," they argued, "are very unlikely to be able to initiate significant counteroffensive operations in 2024 and into 2025." Such a strategy isn't necessarily new for Ukraine, which has repeatedly found ways to deal unexpected blows to Russian forces despite a grueling ground fight. "It will also protract the war and dramatically increase its costs to Ukraine and to Ukraine's supporters," they said. "Ukraine should thus seek every possible way of restoring maneuver to this war as soon as possible, daunting though that task appears."
Persons: , AEI's Frederick Kagan, ISW's Kimberly Kagan, Volodymyr Zelenskyy, Oleksandr Syrskyi, Zelenskyy, Vladimir Putin Organizations: Service, Russia, Business, American Enterprise Institute and Institute, Washington DC, Russian Ministry of Defense, Getty, MIC, REUTERS Kyiv, Kremlin Locations: Ukraine, Russia, Kursk, Russian, Anadolu, Kharkiv, Moscow, Sudzha, IZ.RU
CNN —Israeli Prime Minister Benjamin Netanyahu lambasted his Defense Minister Yoav Gallant on Monday and accused him of adopting an “anti-Israel narrative,” revealing a deep rupture at the top of the Israeli government as the Middle East risks spiraling into a full-scale regional conflict. “When Gallant adopts the anti-Israel narrative, he harms the chances of reaching a hostage deal,” the prime minister’s office said in a statement. Critics have accused Netanyahu of being more interested in defeating Hamas and preserving his government than returning the hostages. He has previously called on Netanyahu to declare that Israel would not establish civilian or military control over Gaza, although the prime minister has remained vague on his plans for the “day after” the war. “The conditions today for a Lebanon war are the opposite of what they were at the beginning of the war,” Gallant reportedly told lawmakers.
Persons: Benjamin Netanyahu, Yoav Gallant, Gallant, , Saul Loeb, Ismail Haniyeh, Fu’ad Shukr, Haniyeh’s, Haniyeh, Netanyahu, , Joe Biden, ” Gallant, Yahya, Sinwar, Daniel Hagari, Organizations: CNN, Israeli, US State Department, Getty Images, Qatari, ” CNN, American Enterprise, Institute for Locations: Israel, Gaza, Iran, Lebanon, United States, Washington ,, Getty Images Iran, Tehran, Beirut, of Israel, Egypt, Qatar, Cairo, Doha
Senator JD Vance of Ohio, the Republican vice-presidential nominee, is a pioneer in what friends and critics alike call a new form of Republican economic thinking. It’s a vision to steer the economy toward advancing socially conservative goals, even when those policies defy conservative orthodoxy about government intervention in private markets. Mr. Vance has built his brief political career on that new brand of economic populism. He has championed efforts to reward families for having children, with tax breaks that some Republican economists say discourage people from working. “He’s a social conservative first,” said Michael R. Strain, an economist at the conservative American Enterprise Institute in Washington who has known Mr. Vance and discussed policy with him for years, well before he decided to enter politics.
Persons: JD Vance, Ohio, Vance, , Michael R Organizations: Republican, American Enterprise Institute Locations: Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemocrats continue to see influx of funding following Harris pickCNBC’s Brian Schwartz and James Pethokoukis, economic policy analyst at the American Enterprise Institute, join 'The Exchange' to discuss the influx of donations to the Democratic party, implications for the presidential race, and more.
Persons: Harris, Brian Schwartz, James Pethokoukis Organizations: Email, American Enterprise Institute, Democratic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe strength of our country is in our unity, says Harvard's Arthur BrooksArthur Brooks, American Enterprise Institute president emeritus and Harvard University professor, joins 'Squawk Box' to discuss his thoughts on former President Trump's speech at the RNC, searching for unity in the U.S., calming the political rhetoric, and more.
Persons: Harvard's Arthur Brooks Arthur Brooks, Trump's Organizations: American Enterprise Institute, Harvard University, RNC Locations: U.S
CNN —Poland is considering a Ukrainian proposal to intercept Russian rockets that are on course to hit cities in Ukraine or enter Polish territory, Polish Foreign Minister Radosław Sikorski said following a speech at the American Enterprise Institute on the sidelines of the NATO summit on Friday. “We are a frontline state and Russian missiles breach our airspace – we assume by mistake,” Sikorski said. Sikorski explained that some missiles fired from around St. Petersburg fly along the Polish border through Belarusian airspace, before briefly entering Polish airspace for about 40 seconds before hitting targets inside Ukraine. Sikorski said the idea of Poland downing Russian missiles was discussed in that agreement. “If NATO does not make such a decision, Poland will not make it individually,” Kosiniak-Kamysz said.
Persons: Radosław Sikorski, , ” Sikorski, Sikorski, , Volodymyr Zelensky, Władysław Kosiniak, Kamysz Organizations: CNN, Polish, American Enterprise Institute, NATO, Russian, Polish Defense, Polskie Radio Locations: Poland, Ukraine, Russian, St, Petersburg, Belarusian, , Warsaw
Most people don’t use mail the way they used to – if they send out mail at all. And, most of all, businesses still depend on the mail to help them reach customers and keep the economy going. A history older than AmericaThe postal service and the United States have grown side by side since before the country’s birth – quite literally. The band The Postal Service was an indie-pop darling near the turn of the century. While stamp prices have doubled in that time, most experts point the finger at technology instead.
Persons: , Michael Plunkett, Benjamin Franklin, Alexis de Tocqueville, “ Alexander M, , Santa Claus, Cliff, Newman, , David Brin, Kevin Costner, ” Plunkett, Kevin Kosar, that’s, Plunkett, Sackler, ” ‘, doesn’t, Louis DeJoy, Kyle Grillot, Michael Kubayanda, Mark Dimondstein, ” Kubayanda Organizations: New, New York CNN, US Postal Service, Association for Postal Commerce, Boston Post, United States, Smithsonian Magazine, Getty, New York City, Postal Service, Post, ” Workers, Service, American Enterprise Institute, , , Coalition, Century Postal Service, USPS, American Postal Workers Union Locations: New York, United States, Boston, United, Britain, France, Siren , Wisconsin, City, Los Angeles, AFP
“FIGHT FOR AND PROTECT SOCIAL SECURITY AND MEDICARE WITH NO CUTS, INCLUDING NO CHANGES TO THE RETIREMENT AGE,” the platform reads. “It’s not a genuine policy prescription to save Social Security,” Jason Fichtner, chief economist at the Bipartisan Policy Center and former acting deputy commissioner of Social Security, said of the party platform. The combined Social Security trust funds – which help support monthly payments to the elderly, survivors and people with disabilities – are expected to be exhausted in 2035, according to its trustees’ annual report. Both candidates have painted themselves into a corner by saying they won’t cut benefits, said Biggs. “Never before have the two parties’ presidential candidates been closer in their positions on Social Security,” he said.
Persons: Donald Trump, , Trump, “ It’s, ” Jason Fichtner, Andrew Biggs, “ Donald Trump’s, , Biggs, Joe Biden Organizations: CNN, Security, Republican National Committee, White House, Republicans, Social, Center, Social Security, American Enterprise Institute, Social Security Administration Locations: November’s
The Federal Reserve, which acts independently from the Oval Office, was slow to act to contain hot inflation, for example. That Biden is seen as stoking high inflation is due somewhat to optics: he took office in early 2021, around the time inflation spiked notably, economists said. "In my view, neither Trump nor Biden is to blame for the high inflation," said Mark Zandi, chief economist at Moody's Analytics. At a high level, hot inflation is largely an issue of mismatched supply and demand. For example, Trump imposed tariffs on imported steel, aluminum and several goods from China, which Biden largely kept intact.
Persons: Joe Biden, Donald Trump, Justin Sullivan, Trump, Biden, David Wessel, Mark Zandi, Wu Shaoyang, Wessel, Zandi, Stephen Brown, Eric Baradat, , Michael Strain, Strain, Jerome Powell, Olivier Douliery Organizations: CNN, Getty, Federal Reserve, Biden, Trump, Hutchins, Brookings Institution, Moody's, Qingdao Port, International Monetary Fund, North, Capital Economics, American, Afp, American Enterprise Institute, Federal, . Federal Locations: Atlanta, U.S, Ukraine, Qingdao, Shandong Province, China, North America, Washington, It's
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