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Why Washington Can’t Quit Listening to Larry Summers
  + stars: | 2021-06-25 | by ( Jeanna Smialek | ) sentiment -0.78   time to read: +1 min
Larry Summers has split his pandemic time between houses in Massachusetts and Arizona. He also seems to live inside the collective mind of the Washington economic establishment. Deploring the way he dominates the narrative is its own catalyst to his dominance, though his critics often miss the paradox. Other respected academics were repeating variations on the same theme, though most economists argued that a 2021 price pop was more likely to be short-lived. But it was Mr. Summers, a longtime Harvard professor, whose brash declarations worked a sort of nerd magic, drawing the boundaries of the debate and forcing the White House — one he largely supports — on the offensive.
Persons: Larry Summers, Clinton, Obama, Summers, Biden Organizations: Capitol Hill, Federal Reserve, White Locations: Massachusetts, Arizona, Washington
WASHINGTON (Reuters) - Ongoing claims for U.S. unemployment insurance have dipped faster in recent weeks in states ending federal benefits this summer than in states keeping the $300 weekly supplement in place until the fall, according to government data through last week. A sign advertising job openings is seen outside of a Starbucks in Manhattan, New York City, New York, U.S., May 26, 2021. REUTERS/Andrew KellyFrom the week ending May 1 through the week ending June 12, continuing claims for state unemployment benefits fell 17.8% in the 26 states ending benefits early, to 990,000, and by 12.6%, to 2.18 million, in the rest of the country, according to a Reuters analysis of weekly federal unemployment data. Weekly data from small business time provider Homebase through the week ending June 20 in fact has shown no pickup in hiring in the states cancelling unemployment benefits. The states stopping benefits as a group have also pulled closer to their pre-pandemic levels of unemployment, suggesting less room for improvement.
Persons: Andrew Kelly, , Jefferies, Thomas Simons Organizations: WASHINGTON, REUTERS, Republican, Homebase, Democratic, Federal Reserve Locations: Manhattan , New York City , New York, U.S, California, New York, Louisiana, Vermont, Massachusetts, Northeast
President Joe Biden is nominating Cindy McCain to be the U.S. representative to the United Nations Agencies for Food and Agriculture, one of 17 nominations announced Wednesday that included major diplomatic and arts assignments. McCain, the widow of Arizona Sen. John McCain, broke with Republicans and endorsed Biden for president, making her a key surrogate for the Democrat after Donald Trump spent years criticizing her husband. McCain is the chair and director of the Hensley Beverage Company, a Phoenix-based distributor of beer, wine, spirits and nonalcoholic drinks. The president is also nominating Massachusetts state Rep. Claire Cronin to be ambassador to Ireland. Jack Markell, a former Delaware governor, is being nominated to represent the U.S. to the Organization for Economic Co-operation and Development.
Persons: Joe Biden, Cindy McCain, McCain, Arizona Sen, John McCain, Biden, Donald Trump, Claire Cronin, Michael Carpenter, Jack Markell, Fiona Whelan Prine, John Prine Organizations: United Nations Agencies, Food, Agriculture, Republicans, Democrat, Hensley Beverage Company, Massachusetts, Ireland, European Union, Penn Biden Center for Diplomacy, University of Pennsylvania, Organization for Security, Cooperation, Organization for Economic Co, Development, National Council, Arts, Oh Boy Records Locations: U.S, Arizona, Phoenix, Northern Ireland, Europe, Delaware
Deptula also credits another decision — paying their staff a $15 per hour minimum wage — with helping the business transition through the pandemic. Now, Delaware is poised to gradually move toward a $15 per hour state minimum wage by 2025 once Gov. Florida is in the process of gradually going to a $15 per hour minimum wage by 2026 after voters approved a ballot measure last November. Barron-Menza points out the minimum wage was first enacted to lift the struggling economy during the Great Depression. DenisTangneyJr | iStock | Getty ImagesProviding employees with a $15 per hour minimum wage has been successful for the Canalside Inn, which hosts corporate retreats and events.
Persons: Kristen Deptula, Deptula, John Carney, Michael Saltsman, Stephanie Dhue, Alissa Barron, Menza, Barron, bartenders, Saltsman Organizations: Finance, Institute, Business, CNBC, Massachusetts Institute, Delaware Restaurant Association, iStock, Getty Locations: Rehoboth Beach , Delaware, Washington, Seattle, Delaware, Florida, Wawa, Bethany Beach , Delaware
Workers linked to a US company were interrogated by Chinese officials in April, sources told Axios. The workers were linked to nonprofit Verité, which investigates labor abuses in global supply chains. At least seven people working in partnership with a US labor-rights company were interrogated for several days by Chinese officials, Axios reported. Chinese authorities questioned people working on behalf of Verité in April, Axios reported, citing several unnamed sources familiar with the matter. Verité is a Massachusetts-based nonprofit that investigates possible labor abuses in supply chains.
Persons: Axios, Verité Organizations: State Department, US State Department, Nike, Disney Locations: Verité, Massachusetts, China, Xinjiang
Every house for sale right now kind of sucks
  + stars: | 2021-06-24 | by ( Taylor Borden | ) + 0.00   time to read: +16 min
The movement upended the housing market, which led Google searches for "should I buy a house?" For that very reason, it's all too easy to find downsides to every kind of single-family home on the market right now, from new builds to decrepit fixer-uppers. The median size of a single-family house completed in 2020 was 2,261 square feet, according to US Census Bureau data. Meanwhile, the National Association of Home Builders found that lumber prices have been so high that they could stand to add over $35,000 in costs to a new build. But lumber prices are already cooling, which could provide builders much-needed relief soon.
Persons: Mark Hamrick, Hamrick, Glen Clemmons, Saul Loeb, Clemmons, Homeownership, Jami Pettiford, Brad, Gay, Cororaton, Justin Sullivan, that's, Devin Stockfish, Weyerhaeuser, Hillary Hoffower, Gioi Tran, Josh Wiener, Natalia Bratslavsky, Tyner Lawrence, Lawrence, Rachel Kalvert Organizations: Service, Google, National Association of Realtors, Getty, Wall Street, Gallup, millennials, Wall, Wall Street Journal, Institute, Builders, National Association of Home Builders, Census Bureau, Bank of America Research, Harvard University's, for Housing Studies, Rocket Mortgage, New York Post, Inc, Boston Magazine, Boston Locations: North Carolina, Grosse Pointe Woods , Michigan, West Virginia, York, Montana, Brooklyn, Boston, New Hampshire, Massachusetts
A historic approval of Biogen's Alzheimer's drug will have ramifications across the drug industry. That bet paid off on June 7, when the Food and Drug Administration approved Biogen's Alzheimer's drug, called Aduhelm. In Aduhelm's wake, Eli Lilly seeks a speedy approval for its own Alzheimer's drug Eli Lilly Chief Scientific Officer Daniel Skovronsky. New treatments could mean new opportunities for diagnostics companies like QuanterixBiogen's drug approval could be good for diagnostic companies like Quanterix. This article was initially published on June 8 and has been updated with new information on Lilly's Alzheimer's drug.
Persons: Andrew Tsai, Biogen, Eisai, Eli Lilly, Daniel Skovronsky, Eli Lilly Eli Lilly, Lilly, Eli Lilly's, Roche, Andrea Pfeifer, Prothena, Aduhelm, Kennen MacKay, Michael Yee, Quanterix, hasn't, James Brewer, Dr, William Burke, Matt York, Brian Tanquilut, Tanquilut, RadNet, aren't, Tsai, Leen, Athira, Alzheon Organizations: Rivals, and Drug Administration, FDA, Jefferies, Roche, RBC Capital Markets, Banner Alzheimer's Institute, Associated Press Companies, Athira Pharma, Washington State University Locations: Alzheimer's, Massachusetts, Swiss, Colombia, Phoenix, Seattle, ATH
Simon MayleThis small gesture had a big effect on how welcome Mayle and his husband felt on the property. It was also a detail he was primed to notice as a cofounder of Proud Experiences, an LGBTQ+ travel conference. A survey conducted by IGLTA found that 73% of LGBTQ+ travelers were planning a major vacation by year's end. "It will be interesting to see how that influences LGBTQ+ travel over the long run." Other destinations keen to follow their lead might consider adjusting their funding models first before plunging into LGBTQ+ marketing.
Persons: Simon Mayle, Eduardo, Keen, Mayle, Mark Ellwood, Jacob Riis, Pamies, Gen, Wunderman Thompson, IGLTA, , David Paisley, Richard Gray, Gray, he'll Organizations: Service, luxe, . Training, Marriott International, Hyatt Hotels, International Gay, Lesbian Travel Association, LGBT Capital, Hornet, Kantar Consulting, CMI, Visit Locations: Brazil, Iguazu, Argentina, South Africa's, Beaujolais, France, Winston, Salem , North Carolina, New York, Oriol, centennials, Provincetown , Massachusetts, Fort Lauderdale , Florida, Visit Lauderdale, Fort Lauderdale, Philadelphia
128 organizations sent a letter to Biden urging him to extend the student-loan payment pause. They want the pause maintained until Biden reforms student-loan programs and cancels student debt. This week, Elizabeth Warren and Chuck Schumer urged Biden to extend the pause by six months. That's why they are calling on the president to further extend the pause. "Failing to extend this pause would not only hurt our nation's struggling students, but it could also impact future economic growth and recovery."
Persons: Biden, Elizabeth Warren, Chuck Schumer, Joe Biden, Massachusetts Sen, Warren, servicers, Cardona, Schumer Organizations: Biden, Student, Protection, American Civil Liberties Union, ACLU, Service Employees International Union, SEIU, Public, Democratic, Education Department Locations: Massachusetts
That means that one popular relief measure — the allowance of to-go cocktails at restaurants — is either expiring or continuing, depending on where you live. The National Restaurant Association counted about 26 states — most of the ones that permitted to-go cocktails during the pandemic — that have opted to allow the practice to continue. Georgia and Texas , for example, made to-go cocktails permanent this spring. The bar has been selling bottled cocktails that customers can add to their home bars, Pride, the bar's co-owner, said. Dante encouraged customers to buy the remaining bottled cocktails in an Instagram post on Thursday.
Persons: Mike Whatley, Whatley, Dante, Linden Pride, Jean Georges, Babel, Myriam, she's, Karl Franz Williams, Williams, takeout, There's, there's Organizations: CNN, National Restaurant Association, New York, Liquor Authority, National Restaurants Association, CNN Business, Barclays Center Locations: York, , . Georgia, Texas, Colorado, Massachusetts, Virginia, New York, Manhattan, New York City, Brooklyn, Babel
Biden nominates Cindy McCain to U.N. post
  + stars: | 2021-06-23 | by ( Reuters Staff | ) + 0.95   time to read: +1 min
FILE PHOTO: Cindy McCain, Chairman of the board of The McCain Institute for International Leadership, speaks on stage at the Women In The World Summit in New York, U.S, April 12, 2019. REUTERS/Brendan McDermid/File PhotoWASHINGTON (Reuters) - President Joe Biden on Wednesday nominated Cindy McCain, widow of the late Republican Senator John McCain, to be U.S. representative to the United Nations agencies for food and agriculture, the White House said. McCain endorsed Biden in November’s election in which the Democrat defeated Republican President Donald Trump, who had repeatedly criticized McCain’s husband. John McCain died in 2018. McCain is chair and director of the Phoenix-based Hensley Beverage Co, which distributes wine, spirits and non-alcoholic beverages.
Persons: Cindy McCain, Brendan McDermid, Joe Biden, John McCain, Biden, Jack Markell, McCain, Donald Trump, McCain’s, Claire Cronin, Fiona Whelan Prine, John Prime Organizations: The McCain Institute for International Leadership, Women, REUTERS, WASHINGTON, Republican, United Nations, Democratic, Organization for Economic Cooperation, Development, Democrat, Food, Agriculture Organization, International Fund for Agricultural Development, Hensley Beverage Co, Massachusetts Democratic, National Council, Arts Locations: New York, U.S, Delaware, November’s, United States, Rome, Food, Ireland
Exxon must face Massachusetts lawsuit alleging climate change deceit
  + stars: | 2021-06-23 | by ( Jonathan Stempel | ) sentiment -0.98   time to read: +2 min
(Reuters) - A Massachusetts state judge has rejected Exxon Mobil Corp’s bid to dismiss a lawsuit by state Attorney General Maura Healey accusing the oil company of misleading consumers and investors about its role in climate change. “Climate change indisputably is a topic that has attracted government attention,” Green wrote. 1, an activist hedge fund focused on climate change, won three seats on Exxon’s 12-member board, an unexpected blow to an energy industry facing growing investor complaints about global warming. Healey had accused Irving, Texas-based Exxon of downplaying the impact its fossil fuel products had on climate change and the risks climate change posed to its business, in an effort to boost profit and its stock price. In December 2019, a New York state judge dismissed a lawsuit by that state’s Attorney General Letitia James accusing Exxon of defrauding investors by hiding the true cost of climate change regulation.
Persons: Maura Healey, Jason Reed, Karen Green, Healey, ” Green, Exxon, Casey Norton, Irving, , ” Healey, Letitia James Organizations: Reuters, Exxon Mobil, Exxon, UNITED, Superior Locations: Massachusetts, Boston, Texas, New York
Although the number of uninsured Latino children was still higher than that of non-Latino children, the 2016 rate was a historic low believed to reflect an improvement in narrowing health coverage disparities between Latino children and their peers. The comprehensive report shows how certain factors such as state of residency, country of origin and immigration status can make some Latino uninsured children more vulnerable than others. It matters where Latino children liveTo Whitener's surprise, state of residency is the factor that "correlates more with uninsured rates" among Latino children, she said. As many as 1 in 5 Latino children lack health insurance in Mississippi, which is among the five states with the highest rates of uninsured Latino children, the study shows. The data shows that Medicaid expansion "is imperative" to ensure more Latino children have coverage, Whitener said.
Persons: Donald Trump, Kelly Whitener, Joe Biden's, Trump, Whitener, Mario Tama, Biden Organizations: Center for Children, Families, Georgetown University, Trump, Georgetown University's Center for Children, NBC, Children's Health Insurance, Puerto, Children's Health, Facebook, Twitter Locations: U.S, Massachusetts, Mississippi, Texas, Tennessee, Georgia, South Carolina, Arkansas, Wyoming, South Dakota , Wisconsin , Alabama, North Carolina , Kansas, Florida, Puerto Rican, California, Florida , Texas, Honduran, Modesto , Calif, Colombian, Puerto
WASHINGTON — Democrats on Capitol Hill are urging President Joe Biden to extend the federal student loan payment moratorium by at least six months as the economy continues to rebound from the coronavirus pandemic. President Donald Trump then took executive action to extend the student loan payment deferral through January, and Biden on his first day in office signed an executive order continuing the pause through Sept. 30. The call to extend the loan pause also comes as Democrats and advocates for debt cancelation have pressured Biden to use executive action to wipe out up to $50,000 in federal student loan debt for all borrowers. In the letter to Biden on Wednesday, Democrats encouraged the president to complete the review process before federally held student loan payments resume. "However, given the fast-approaching deadline for borrowers to resume payments, it is critical that the Administration act as quickly as possible to extend the pause on payments and interest," they wrote.
Persons: Joe Biden, Biden, Sen, Elizabeth Warren of, Chuck Schumer, Ayanna Pressley, Joe Courtney of Connecticut, Donald Trump, Miguel Cardona, Persis Yu, cancelation, Ron Klain Organizations: WASHINGTON, Democrats, Capitol, NBC News, Democratic, Ayanna Pressley of Massachusetts, Department of Education, Education Department, Consumer, National Consumer Law, Federal Reserve, White, Wednesday Locations: Elizabeth Warren of Massachusetts, New York, Ayanna Pressley of
But in 30 days, the Tokyo Games are almost certain to take place despite months of unprecedented dissent from Japanese doctors, public health experts and most of its citizens. The International Olympic Committee and Japanese officials are adamant that beginning July 23, they can host the games not only safely, but successfully. 'Barring Armageddon' — it's a goThe IOC and Japanese officials have held firm, though in reality only the IOC has the legal authority to pull the plug. An advertising board for the postponed Tokyo 2020 Olympic Games near Tokyo's Statue of Liberty replica in May. That's because, as well as the money it's already spent on the games, Japan would have lost out on expected revenues during the event.
Persons: Critics, Charly Triballeau, Andrew Zimbalist, NBCUniversal, Issei Kato, Naoto Ueyama, Naomi Osaka, Richard Pound, Seiko Hashimoto, Kaori Yamaguchi, Yoshihide Suga, Eugene Hoshiko, Shigeru Omi, Omi, Suga, Alexandre Miguel Mestre, Abreu Advogados, Naoki Ogura, Jeff Shell, Everybody, Takahide Kiuchi, it's, Leon Farr, Farr, they've Organizations: Tokyo Games, Olympic Committee, Getty, IOC, Smith College in, NBC News, Olympic, NBC Sports Group, Organizers, East, NBC, Asahi Shimbun, Olympics, Japan Doctors Union, Evening Standard, Japan's, Kyodo, Rings, Fuji Television, Pfizer, Critics, Olympic Games, Reuters NBCUniversal, Credit, Communications Conference, Bank of Japan, Nomura Research Institute, Reuters Locations: Olympics, Tokyo, Japan, AFP, Smith College in Massachusetts, United States, East Asia, Tokyo's, London
WASHINGTON — Former Democratic National Committee Chairman Tom Perez is running for governor of his home state of Maryland, where the outgoing Republican governor has proven immensely popular despite the state’s heavy Democratic tilt. Perez led the Civil Rights Division of the Department of Justice and then served as labor secretary under President Barack Obama. When his term as DNC chair ended earlier this year, Perez was replaced by current chairman Jaime Harrison, who ran for Senate in South Carolina last year. Maryland goes heavily Democratic in presidential elections but, like its fellow Northeast liberal states Massachusetts and Vermont, currently has a popular Republican governor. Perez enters the race with widespread name recognition, connections to national donors and some key local endorsements, but he is hardly alone in the race.
Persons: WASHINGTON —, Tom Perez, Perez, Barack Obama, Hillary Clinton’s, Donald Trump, Jaime Harrison, Perez ’, Obama, Perez “, , Larry Hogan, John King Jr Organizations: WASHINGTON, WASHINGTON — Former Democratic National, Republican, Democratic, Civil, Division, Department of Justice, House, GOP, Maryland Democrats, Education Department Locations: Maryland, South Carolina, Northeast, Massachusetts, Vermont
At least 78 same-sex couples married in Massachusetts that day — the same day President George W. Bush called for a congressional amendment banning same-sex marriage. In 2010, when Iceland recognized same-sex marriage midway through Jóhanna’s tenure, the pair became one the first same-sex married couples in the country. Gerber was fired from the post office and eventually moved to New York, where he continued advocating for gay rights until his death in 1972. Body, Baer wrote about being ostracized at school and feeling ill at ease in his assigned sex. “I introduced myself as a man, never as a woman,” Baer wrote.
Persons: Kathy Kozachenko, Chris Goodney, Harvey Milk, Kozachenko, ” Kozachenko, , MaryAnn Geiger, , I’m, Charles, Buddy, Rogers, Richard Arlen, William A, Jack, Charles Rogers, David, they’re, ” Clara Bow, Kevin Sessums, Francesca Seravalle, Dave’s, Wellman humanized, Otto K, Olesen, Sappho, Dale Jennings, Don Slater, Jonathan Rauch, ” Marcia Kadish, Tanya McCloskey, United States Marcia Kadish, Dina Rudick, Margaret Marshall, McCloskey, Kadish, NPR’s, George W, Bush, Hodges, Michael McConnell, Jack Baker, Daley, Picasso, , , Stonewall, Jóhanna, Jóhanna Sigurðardóttir, Olivier Morin, Kristian Foss, Jónína Leósdóttir, Henry Gerber, Gerber, Magnus Hirschfeld, Renée Richards, Australia's Lesley Hunt, Richards, Renée Clark —, San, Dick Carlson, Tucker Carlson, Renee, Billie Jean King, Richards ’, Alfred Ascione, Virginia Wade, Betty Ann Stuart, Betty Stöve, Martina Navratilova, Navratilova, Karl M, Baer, B’nai, ” Baer, Arolsen, Iris Rachamimov, Brooke Blurton, Bachelorette ” Brooke Blurton, Faith Moran, ” Blurton, Osher Günsberg, Brooke, Colton Underwood Organizations: U.S, Supreme, Bloomberg, Getty, San Francisco, of Supervisors, Ann, Ann Arbor City Council, University of Michigan, NBC, Hulton, Army Air Service, Hays, Inc, Magazine, Los, Circuit, Washington, Brookings Institution, Cambridge City Hall, Boston Globe, . Department of Public Health, NPR, Gay, Christopher, Windy City, Civic, Chicago Tribune, Chicago Gay Liberation, Chicago Pride, Social Democratic Party, SDP, . Society for Human Rights, Society for Human Rights, Chicago, Crilly, Historic Landmark, National Park Service, Walter Brown, Fox News, Tennis, United States Tennis Association, New York Supreme, USTA, Richards, Wimbledon, Prussian Interior Ministry, ABC, Daily Telegraph Locations: U.S, Pittsburgh, Ann Arbor, Michigan, , France, United States, Los Angeles, America, L.A, Massachusetts, Goodridge, Obergefell, New York, Washington, Chicago, North, Reykjavik, Norway, Iceland, Illinois, Chicago’s, San Diego, Arolsen, Germany, Hamburg, Berlin, Perth, Australia, Paradise, Western Australia
WASHINGTON—President Biden will nominate Cindy McCain, the widow of Sen. John McCain, to be U.S. representative to the United Nations Agencies for Food and Agriculture, a post that carries the rank of ambassador, the White House said. Mrs. McCain was among a handful of high-profile Republicans who endorsed Mr. Biden in the 2020 presidential race. The White House named Mrs. McCain as part of a slate of nominations Mr. Biden will make for key roles in his administration. The list also named Claire Cronin, a Democratic Massachusetts state representative, as Mr. Biden’s pick for U.S. ambassador to Ireland. Mr. Biden met virtually with the Irish prime minister Micheál Martin on St. Patrick’s Day, and the latter was among the first foreign leaders he spoke to after being elected president.
Persons: Biden, Cindy McCain, Sen, John McCain, McCain, Mr, Claire Cronin, Biden’s, Micheál Martin, Patrick’s Organizations: WASHINGTON, United Nations Agencies, Food, Agriculture, Democratic, U.S Locations: Democratic Massachusetts, Ireland, St
Six Connecticut women have pleaded guilty in a scheme that involved stealing tens of thousands of dollars worth of Victoria's Secret merchandise, federal prosecutors said. The scheme involved returning stolen merchandise as if the item's receipt had been lost and being given a gift card worth the stolen item's value. The purchased item was returned with a real receipt, except the full balance — which included the value of the stolen item — was credited back to a debit card. The wire fraud scheme resulted in a loss of more than $100,000 to L Brands stores in Connecticut and Massachusetts. L Brands owns Victoria's Secret and other companies like PINK and Bath & Body Works.
Persons: Organizations: Brands, L Brands, Body Locations: Connecticut, Massachusetts
Your mortgage rate will also depend on your finances and which type of mortgage you get. Mortgage and refinance rates by stateCheck the latest rates in your state at the links below. AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyomingHow are mortgage rates determined? Employment and inflation are the two main economical factors that impact mortgage rates. When employment numbers and inflation go up, mortgage rates tend to follow suit.
Persons: it's, you'll, you've, Laura Grace Tarpley, Ryan Wangman Organizations: RedVentures . Mortgage, Alabama Alaska, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode, South, South Carolina South Dakota Tennessee Utah Vermont Virginia Washington Washington DC, South Carolina South Dakota Tennessee Utah Vermont Virginia Washington Washington DC West Virginia, Finance Locations:, RedVentures, Alabama, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi, Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon, South Carolina South Dakota Tennessee Utah Vermont, South Carolina South Dakota Tennessee Utah Vermont Virginia Washington Washington DC West, South Carolina South Dakota Tennessee Utah Vermont Virginia Washington Washington DC West Virginia Wisconsin Wyoming
Boston Consulting found the US will continue to house the most ultra-wealthy people through 2025. By 2029, though, it predicts China will overtake the US with $10.4 trillion in ultra-wealthy assets. The number of ultra-rich people in the US have prompted some Democrats to call for a wealth tax. The Boston Consulting Group — a management consulting firm — released its Global Wealth Report of 2021 earlier this month, which analyzes how global wealth is and will be distributed. It's prompted some Democratic lawmakers to call for a wealth tax to help equalize income distribution.
Persons: , Jeff Bezos, Elon Musk, Warren Buffett, Massachusetts Sen, Elizabeth Warren Organizations: Boston Consulting, Twitter Locations: China, Asia, India, everyone's, Massachusetts, America
64 Democrats sent a letter to Biden urging him to extend the student loan payment pause by 6 months. Led by Elizabeth Warren and Chuck Schumer, they say borrowers are still recovering from the pandemic. Sixty-four Democrats want to give borrowers certainty — and an additional six months, at least, free of student-loan payments. The Democrats wrote in the letter, obtained by Insider, that the pause on student-loan payments and interest have provided "essential relief" to borrowers during the pandemic. "In the interim, extending this payment pause will provide a crucial additional layer of relief for millions of borrowers.
Persons: Biden, Elizabeth Warren, Chuck Schumer, Miguel Cardona, haven't, Massachusetts Sen, Ayanna Pressley, Joe Courtney, Joe Biden, , Warren, servicers, Cardona, Schumer, Pressley Organizations: Connecticut, Democratic, Brandeis University, American Association of University Women, Education Department, Education, Justice Locations: Massachusetts
"But … I think they're very tone deaf," Cramer added on "Squawk on the Street." "I think that billionaires just kind of feel like, 'Well, listen, we're oligarchs and we get to do what we want.'" Cramer said he believes that attitude is misguided, particularly under Democratic President Joe Biden, who succeeded former President Donald Trump, a Republican, in January. This administration is certainly not pro-capitalist, it's pro-labor — much more, I think, than the Obama administration," Cramer said. Cramer on Wednesday did not detail specific tax reforms he believes billionaires should be willing to embrace.
Persons: CNBC's Jim Cramer, Sen, Elizabeth Warren, Cramer, Vermont Sen, Bernie Sanders, Joe Biden, Donald Trump, Biden, Obama, Warren Buffett's, Berkshire Hathaway, Buffett, they're, I've Organizations: Massachusetts Democrat, Democratic, Republican, Berkshire Locations: U.S, Washington, Massachusetts, Vermont
"People can't have an emergency stress response that stays the same forever, so they convert from an acute stress response to a chronic stress response," she said. The Covid-19 pandemic has had a major impact on Americans' mental health since the first cases were recorded at the beginning of last year. People who are currently dealing with chronic stress, anxiety or PTSD could very well be dealing with it for quite some time. Nizzi and others said it's important that the U.S. increase its investments in mental health services so that the many people who are struggling with mental health issues right now can hopefully get the help they need. She said the U.S. wasn't dedicating enough resources to mental health before the pandemic, and even more resources are needed now.
Persons: Marie, Christine Nizzi, Nizzi, Nicole Schramm, it's, Uri Maoz, George Floyd, everything's, Soo Jeong Youn Organizations: Dartmouth College, Brain, Chapman University, for Disease Control, Duke Institute for Brain Sciences, Harvard Medical School, Massachusetts General Hospital Locations: U.S, Massachusetts
Democrats in both chambers of Congress plan to reintroduce bills that would create more overdraft protections, banning overdraft fees on debit transactions while adding other safeguards. And during a hearing last month, Senator Elizabeth Warren, Democrat of Massachusetts, rebuked big bank executives for continuing to charge overdraft fees to struggling consumers during a pandemic. Ms. Warren called Jamie Dimon, the chief executive of JPMorgan Chase, “star of the overdraft show,” noting that his bank collected nearly $1.5 billion in overdraft fees last year. (A JPMorgan spokeswoman said it waived more than $430 million in overdraft fees at customers’ requests from January 2020 through March 2021.) Aaron Klein, a senior fellow at the Brookings Institution, recently found that several small banks had become “overdraft giants, relying on overdraft fees as their main source of profit.” At six banks, overdraft revenues accounted for more than half of their profit, he said.
Persons: , Rebecca Borné, Overdrafts, Elizabeth Warren, Warren, Jamie Dimon, JPMorgan Chase, Chase, Wells Fargo, Wells, Cassidy, Aaron Klein Organizations: Center for Responsible Lending, Consumer Financial, JPMorgan, Bank of America, RBC Capital, Brookings Institution Locations: Massachusetts, Wells Fargo
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