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☆ Biden administration plans to end Covid public health emergency on May 11
▼ + stars: | 2023-01-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Biden administration plans to end the Covid public health emergency this spring, which will mark a major turning point in the U.S. response to pandemic. The White House, in a statement Monday, said it would terminate on May 11 both the public health emergency and the national emergency declared by the Trump administration in 2020. Enrollment in Medicaid has also surged during the public health emergency because Congress basically barred states from disenrolling people from the program. The Trump administration first declared a public health emergency in response to Covid in January 2020 and then declared a national emergency the following March. The public health emergency has been extended every 90 days across both the Trump and Biden administrations.

☆ Former Covid chief Jeff Zients to replace Ron Klain as White House chief of staff, Biden confirms
▼ + stars: | 2023-01-27 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

Jeff Zients, former White House Covid-19 response coordinator under Biden and an economic advisor to former President Barack Obama, will replace Ron Klain as White House chief of staff, President Joe Biden confirmed in a statement Friday. Zients is a longtime ally of both Biden and Klain and has a reputation of getting things done. In recent weeks he has returned to the White House to help coordinate staff turnover after the midterms, where he has worked closely with Klain. The White House will hold an official transition event next week to welcome Zients and thank Klain, Biden said in his statement. Zients worked as CEO of health care consulting firm the Advisory Board Company, which is now part of UnitedHealth.

☆ Ron Klain, Biden’s White House chief of staff, is reportedly expected to step down
▼ + stars: | 2023-01-21 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

U.S. Vice President Joe Biden (R) is joined by Ebola Response Coordinator Ron Klain (L) in the Eisenhower Executive Office Building on the White House complex in Washington, U.S. November 13, 2014. White House Chief of Staff Ron Klain is preparing to step down in the coming weeks, according to a report from The New York Times. After the midterm elections in November and an action-packed two years in the White House, Klain has told colleagues that he is ready for something different, the report said. Klain previously acted as Biden's chief of staff during former President Barack Obama's first term, and he's worked with Biden since he ran for president back in 1987. The White House did not immediately respond to CNBC's requests for comment.

This year, women will hold all four of the top positions on the House and Senate Appropriations committees for the first time in history. “Oftentimes people say, you know, ‘We need to have women at the table.’ Well, women are the table.”Spending and debt fights loomOver the decades, these women have seen their share of spending fights. But I’m absolutely convinced that we have to stand together,” said Granger, who last week became the first female Republican to chair the House Appropriations Committee. Women, Murray said, are good communicators, and she and her colleagues can translate a big, complicated appropriations bill for everyday Americans. But as a 14-year House Appropriations staffer, she also intimately knows each of the top appropriators and recognizes the significance of this glass-ceiling-shattering moment.

“Around the country, MAGA extremists are lining up to take on those bedrock freedoms,” Mr. Biden said, using Mr. Trump’s Make America Great Again slogan to describe the former president’s allies. While he had repeatedly and consistently said he intended to run, Mr. Biden stoked renewed speculation by delaying his kickoff for months. Mr. Biden tapped Julie Chávez Rodríguez, a senior White House adviser and granddaughter of the iconic labor leader Cesar Chávez, as his campaign manager. But the operation is expected to be overseen from the White House by top presidential aides. While polls show that most Democrats have favorable opinions about Mr. Biden, a majority of them would still rather he not run again.

☆ Before Biden Left the White House as Vice President, a Scramble to Pack Documents
▼ + stars: | 2023-01-14 | by ( Ken Thomas | Sabrina Siddiqui | ) www.wsj.com time to read: 1 min

WASHINGTON—President Biden’s departure from the White House in January 2017 involved a rush to pack up documents and other belongings, former aides said, as the then-vice president embarked on an intense stretch of domestic and international travel and a series of official events. During those final weeks, staff members were tasked with packing up Mr. Biden’s West Wing office, where he did much of his work, along with his larger office space at the Eisenhower Executive Office Building near the White House and his residence at the Naval Observatory.

☆ Biden to deliver State of the Union address to Congress on Feb. 7
▼ + stars: | 2023-01-13 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

President Joe Biden has accepted an invitation from House Speaker Kevin McCarthy to deliver his State of the Union address to Congress on Feb. 7, the White House said. "We have received Speaker McCarthy's kind invitation and the president has accepted it and looks forward to delivering the State of the Union address," White House press secretary Karine Jean-Pierre said Friday. McCarthy earlier Friday tweeted out his invitation to Biden, writing it was his "solemn obligation" to do so. "Your remarks will inform our efforts to address the priorities of the American people," McCarthy wrote. The speech will be Biden's first State of the Union since Republicans won back control of the House, ending two years of unified Democratic government in Washington.

☆ Morning Bid: Wall Street on Santa's naughty list
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +3 min

This year, it looks like Santa Claus has no plans to visit Wall Street. The S&P 500 (.SPX) is on course for its third weekly decline and the famed "Santa rally", where the index stages a run-up in the week leading to Dec. 25, hasn't materialised. The index rallied straight into the third week of January in just 22 of the 90 years. On average, since 1932, the S&P 500 has returned some 0.4% in any given Santa rally week. The worst pre-Christmas week was in 1957, bang in the middle of what was known as the "Eisenhower recession".

☆ OK Boomers, Let Go of the Presidency
▼ + stars: | 2022-12-22 | by ( Karl Rove | ) www.wsj.com time to read: 1 min

The U.S. is about to enter 2023, but in important ways it feels like 1960. The president then was Dwight D. Eisenhower , a well-liked chief executive and war hero, who led Allied Forces on D-Day. Born in October 1890 in Denison, Texas, he was the last president from the 19th century.

☆ These are 10 most popular fighter planes in service around the world
▼ + stars: | 2022-12-22 | by ( Miguel Ortiz | We Are The Mighty | ) www.businessinsider.com time to read: +9 min

Using data from Cirium, FlightGlobal published their 2023 World Air Forces directory detailing military aircraft fleets around the world, including the most popular fighter planes. These are the 10 most popular fighter planes in service around the world:Northrop F-5An F-5 Tiger II takes off at Naval Air Station Fallon in Nevada. Despite its age, the J-7 remains extremely popular with 444 in active service. 522 Typhoons are in active service, including with all of the original collaborating countries except France. 545 F-35s are in active service, with more on the way as existing orders are filled and additional orders are placed.

☆ Expert on White House chiefs of staff says Mark Meadows 'absolutely owns' the title of 'worst' chief in history after ex-aide's damning testimony
▼ + stars: | 2022-12-19 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +11 min

The historian Chris Whipple said Mark Meadows was the worst White House chief of staff in history. The author Chris Whipple, who has interviewed dozens of White House chiefs of staff, said that Cassidy Hutchinson's shocking testimony before the House January 6 committee has made it abundantly clear that Mark Meadows is by far the "worst" White House chief of staff in history. On December 19, the panel released an executive summary of its findings that was harshly critical of Meadows' book "The Chief's Chief." Whipple wrote the literal book on White House chiefs of staffABC's George Stephanopoulos interviews the author Chris Whipple in 2017. "I've said oftentimes that being White House chief of staff is perhaps the second most powerful job in Washington, D.C.

☆ U.S. begins buying back oil for strategic petroleum reserve
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: +2 min

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile. The department will buy up to 3 million barrels for delivery in February, a senior official told reporters. The sale shrunk levels in the SPR to about 380 million barrels, their lowest since 1984, raising concerns about energy security. "We'll be releasing a solicitation to purchase 3 million barrels of oil for delivery in February of next year, 2023," the official said. "We are able to do that at the same time we're doing the 3 million barrel buy-back," the official said.

☆ Majority of Americans don't want Biden or Trump to run again in 2024, CNBC survey shows
▼ + stars: | 2022-12-09 | by ( Steve Liesman | ) www.cnbc.com time to read: +2 min

That's how majorities of the public responded when the CNBC All-America Economic Survey asked if President Joe Biden or former President Donald Trump should run again for president. And 70% say Biden should not run for a second term with just 19% supporting a run. CNBC's Democratic and Republican pollsters both believe Democrats will likely support Biden if he's the nominee and that Republicans will support Trump. While Trump has announced he's running, President Biden has yet to officially do so. Just 8% say age is a major reason they don't back another run for Trump, who is 76.

☆ The US Navy spent 4 weeks blasting one of its aircraft carriers to figure out how to keep enemies from sinking them
▼ + stars: | 2022-12-08 | by ( Harrison Kass | ) www.businessinsider.com time to read: +7 min

In May 2005, the US Navy sank the decommissioned aircraft carrier America in the Atlantic Ocean. The USS America (CV-66) was one of three Kitty Hawk-class carriers built in the 1960s. Building the USS America of the Kitty Hawk-classUSS America in the Indian Ocean on April 24, 1983. The career of the USS AmericaA U-2 reconnaissance aircraft on the flight deck of the aircraft carrier USS America. A declassified image of USS America sinking after four weeks of live-fire weapons damage tests in May 2005.

☆ Supreme Court takes Biden student debt relief case, holds program for now
▼ + stars: | 2022-12-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

US President Joe Biden speaks in the Eisenhower Executive Office Building in Washington, D.C., US, on Monday, Oct. 17, 2022. The Supreme Court said Thursday that it will hear arguments in a case challenging the Biden administration's student loan debt relief plan — but kept in place a lower appeals court's nationwide injunction that prevents that program from taking effect for now. The administration on Nov. 18 asked Justice Brett Kavanagh to lift an injunction against the student loan relief program, which would cancel hundreds of billions of dollars in federal debt. Kavanagh is the Supreme Court justice responsible for handling emergency applications arising from 8th Circuit cases. In its order Thursday, the Supreme Court said that consideration of the application to lift the injunction "is deferred pending oral argument."

☆ The week in review, the week ahead — Nov. 18, 2022
▼ + stars: | 2022-11-18 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

It certainly gave the market some pause in the back half of the week. Looking ahead, we remind members that markets will be closed on Thursday for Thanksgiving, and will close early at 1:00 p.m. Also Thursday, initial jobless claims for the week ending Nov. 12 came in at 222,000, a decrease of 4,000 from the prior week and below expectations of 228,000. Below are some other earnings reports and economic numbers to watch in the week ahead. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Biden administration to make it easier for student loan borrowers to discharge debt in bankruptcy
▼ + stars: | 2022-11-17 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

President Joe Biden speaks on the student debt relief plan as Secretary of Education Miguel Cardona listens in at the Eisenhower Executive Office Building in Washington, D.C., on Oct. 17, 2022. The Biden administration announced on Thursday updated guidelines that will make it easier for those struggling with their student debt to discharge it in bankruptcy. Under the rules, the agencies may recommend that a bankruptcy judge discharge a borrower's student debt if they find their case warrants it. Currently, it's difficult, if not impossible, for someone to walk away from their federal student debt in a normal bankruptcy proceeding. Outstanding student debt exceeds $1.7 trillion, and even before the pandemic, some 10 million borrowers were in delinquency or default.

☆ 'Tulsa King' review: Sylvester Stallone tries to rewind the clock on Paramount+.
▼ + stars: | 2022-11-11 | by ( Review Brian Lowry | ) edition.cnn.com time to read: +3 min

Enter “Tulsa King,” a slim vehicle for Sylvester Stallone that’s a little too overtly designed as a mobster fish out of water. “There’s nothing left for you here,” says the new boss (“The Wire’s” Domenick Lombardozzi), noting, “We can’t just rewind the clock.”Conceptually, though, that’s exactly what “Tulsa King” does, or at least tries to do, exiling Dwight to the dreary confines of Oklahoma. “Tulsa King” turns out to be a rather odd mix of attributes, relying almost entirely on Stallone’s movie-star charisma as the show alternates between sitcom conventions and R-rated “The Sopranos”-flecked flourishes. In that sense, “Tulsa King” suggests maybe you can rewind the clock, just a little, even if you’re gonna fly a little bit lower now. “Tulsa King” premieres November 13 on Paramount+.

☆ Rhode Island Gov. Daniel McKee faces off against Republican Ashley Kalus in gubernatorial election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +2 min

Daniel McKee is running against Republican Ashley Kalus in Rhode Island's gubernatorial race. Daniel McKee faces off against Republican Ashley Kalus in Rhode Island's gubernatorial election. Rhode Island's gubernatorial candidatesMcKee was sworn in as governor following former Rhode Island Gov. Kalus, McKee's challenger, is a relative newcomer to Rhode Island, which prompted McKee's campaign to slam her as an outsider. Rhode Island's voting historyRhode Island went for President Joe Biden over Trump by nearly 20 percentage points in 2020.

Jerry Lee Lewis, the rock ’n’ roll trailblazer and piano virtuoso who electrified audiences with his raucous, free-wheeling performances but attracted scandal after he married his 13-year-old cousin, died Friday, his publicist said. Jerry Lee Lewis in 1957. He is a defiant, reckless, indefatigable wild man that can rock you into oblivion,” the Rock & Roll Hall of Fame said when he was inducted in 1986. Jerry Lee Lewis with Myra Gale Brown in 1962. Jerry Lee Lewis performs in 1986.

"These are junk fees," President Joe Biden told reporters at the Eisenhower Executive Office Building. The White House said the move could eliminate billions in banking fees. The agency said that both fees likely violate the Consumer Financial Protection Act's prohibition on unfair fees that are unavoidable to consumers. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019. He cited processing fees for concert tickets and resort fees at hotels as two items his administration is examining.

☆ How Google's former CEO Eric Schmidt helped write AI laws in Washington without publicly disclosing investments in AI start-ups
▼ + stars: | 2022-10-24 | by ( Eamon Javers | ) www.cnbc.com time to read: +18 min

'Conflict of interest'Schmidt's investment was just the first of a handful of direct investments he would make in AI start-up companies during his tenure as chairman of the AI commission. Altogether, Schmidt and entities connected to him made more than 50 investments in AI companies while he was chairman of the federal commission on AI. To Poulson, Schmidt was simply given too much power over federal AI policy. The new entity would continue the work of the congressionally created federal commission, with many of the same goals and much of the same staff. More than a dozen staffers from the federal commission followed Schmidt to the new private sector project.

☆ President Biden says 22 million people have signed up for student loan forgiveness
▼ + stars: | 2022-10-21 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden speaks on the student debt relief plan in the South Court Auditorium at the Eisenhower Executive Office Building on October 17, 2022 in Washington, DC. President Joe Biden said 22 million people have registered for student loan relief since applications opened on Monday. Biden campaigned on a promise of student loan forgiveness. In August, he announced that federal student loan borrowers earning under $125,000 or households with less than $250,000 in income would be eligible for up to $10,000 in forgiveness. "In total more than 40 million Americans stand to benefit from this relief," Biden said.

Biden blamed Russian President Vladimir Putin’s invasion of Ukraine for higher crude and gasoline prices, while noting prices had fallen 30% from their peak earlier this year. “Families are hurting,” and gasoline prices are squeezing their budgets, he added. Retail gasoline prices have fallen from a high in June, but remain above historical averages, and are a major contributor to inflation. Biden said oil companies should feel more confident about investing in production with the new SPR repurchase pledge, and stop pushing stock buybacks. So you can act now to increase oil production," he said.

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