DIRS.INFO The most relevant business & tech news

☆ The Ukraine aid that House Republican leaders are blocking might actually be good for the US economy
▼ + stars: | 2024-02-18 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

House Speaker Mike Johnson is blocking a $95 billion emergency foreign aid bill, saying he's in "no rush" to take up the legislation the Senate overwhelmingly approved last week. While supporters of the legislation say it's needed urgently to help Ukraine, The Wall Street Journal also points out that the bill would benefit the US economy. Lael Brainard, the director of the White House National Economic Council, told the Journal in a recent interview that the impact on the US economy would be significant. AdvertisementIt remains unclear when or if the House will take up the Senate bill. Trump in recent weeks also helped tank a bipartisan bill that would have tightened the US asylum system, among other measures.

Persons: Mike Johnson, —, Russia's, Joe Biden's, Lael Brainard, Donald Trump, Trump Organizations: Business, Street, Pentagon, White, National Economic Council, The Locations: Mexico, Ukraine, Israel, Gaza, Taiwan

☆ NEC Director Lael Brainard: Overall economic picture still looks good despite the hot CPI print
▼ + stars: | 2024-02-13 | 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 EmailNEC Director Lael Brainard: Overall economic picture still looks good despite the hot CPI printLael Brainard, National Economic Council Director and former Federal Reserve vice chair, joins 'Money Movers' to discuss the latest CPI data, what could be problematic for the economy, and getting through the 'last mile' of inflation.

Persons: Lael Brainard Organizations: NEC, National Economic, Federal Reserve

☆ Biden is calling out corporations because 'his administration is underwater with independents,' Andrew Yang says
▼ + stars: | 2024-02-13 | by ( Taylor Craig | In | ) www.cnbc.com time to read: +1 min

Biden was sitting beside common snacks like Oreos, Doritos and Goldfish during the 48-second clip, posted to X. Shrinkflation happens when consumer products get smaller in weight, size or quantity while their prices stay the same or even increase. "That's a message that the average consumer will nod their heads and say 'sure, I hate it when that happens,'" former presidential candidate Andrew Yang said. "They're gonna have to keep making this case around the country because the Biden administration is underwater with independents who are going to decide this November's election," Yang, now the co-chair of the Forward Party said. "They're going to be trying anything they can to say, at least, 'we're on your side.'"

Persons: Joe Biden, Biden, I've, Andrew Yang, that's, Lael Brainard, Yang Organizations: Super, Sunday, National Economic, Forward Party

☆ Lael Brainard slams food companies for ‘shrinkflation' as White House attacks price gouging
▼ + stars: | 2024-02-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Director of the National Economic Council Lael Brainard speaks during the daily press briefing at the White House January 11, 2024 in Washington, DC. National Economic Council Director Lael Brainard on Tuesday blamed higher consumer prices on "shrinkflation," doubling down on the latest battlefront of President Joe Biden's corporate pressure campaign. Shrinkflation, the practice of reducing product sizes while keeping prices the same, is Biden's latest line of attack against corporations, which he debuted on Super Bowl Sunday. Both the White House and Biden's 2024 reelection campaign have touted inflation recovery as a key accomplishment of his economic agenda, dubbed Bidenomics. "The president is going to continue emphasizing that input costs have come down, supply chains have healed," Brainard said.

Persons: Lael Brainard, Brainard, Joe, Biden Organizations: National Economic, Economic, Cola, PepsiCo, Procter, Gamble, Super, Sunday, White Locations: Washington , DC

WASHINGTON (AP) — The Biden administration on Wednesday plans to name a top White House aide as the director of the newly established safety institute for artificial intelligence, according to an administration official who insisted on anonymity to discuss the position. Elizabeth Kelly will lead the AI Safety Institute at the National Institute for Standards and Technology, which is part of the Commerce Department. Currently an economic policy adviser for President Joe Biden, Kelly played an integral role in drafting the executive order signed at the end of October that established the institute, the administration official said. The administration considers the safety tests as necessary to unlock the benefits of the rapidly moving technology, creating a level of trust that will allow for wider adoption of AI. But so far, those tests lack the universal set of standards that the institute plans to finalize this summer.

Persons: —, Biden, Elizabeth Kelly, Joe Biden, Kelly, Lael Brainard, Kelly “, it's, Obama Organizations: WASHINGTON, White, AI, National Institute for Standards, Technology, Commerce Department, The Associated Press, National Economic Council, Yale Law School, Obama White

The Congressional Budget Office in 2022 estimated that the tens of billions of new IRS funding provided by the IRA would increase revenues by $180.4 billion from 2022 to 2031. The IRS now says that if IRA funding is restored, renewed and diversified, estimated revenues could reach as much as $851 billion from 2024 to 2034. However, House Republicans built a $1.4 billion reduction to the IRS into the debt ceiling and budget cuts package passed by Congress last summer. IRA funding "is enabling the IRS to reverse this trend,” Leiserson said. The tax gap — which is the difference between taxes owed and taxes paid — has grown to more than $600 billion annually, according to the IRS.

Persons: Joe Biden's, Lael Brainard, Brainard, Greg Leiserson, Leiserson, — Organizations: WASHINGTON, IRS, Treasury Department, Democrats, Congressional, Office, Republicans, Congress

A new poll from The Associated Press-NORC Center for Public Affairs Research finds that 35% of U.S. adults call the national economy good. That's an uptick from 30% who said so late last year and up from 24% who said so a year ago. While 65% still call the economy poor, that’s also an improvement from a year ago, when 76% called it poor. The evidence of a stronger economy has yet to spill over into greater support for Biden. “He has a lot on his plate right now and he’s doing quite well,” she said.

Persons: —, that’s, Joe Biden, Biden, Donald Trump, Trump, Molly Kapsner, “ He’s, ” David Veksler, Jo Jorgenson, he's, ” Veksler, “ I’m, ” Harry Broadnax, ”, Broadnax, I’m, doesn't, Lael Brainard, Deborah Shields, she's, Shields, “, ” Richard Tunnell, “ He's, ” Tunnell, they’ll Organizations: WASHINGTON, Associated Press, NORC, for Public Affairs Research, Voters, Republican, Biden, Denver, Trump, White, National Economic Council, Republicans, Democratic, Air Force Locations: U.S, Wisconsin, “, North Carolina, Orlando , Florida, Huntsville , Texas

☆ Interest Rate Cuts Could Be a Boon to Biden
▼ + stars: | 2024-01-31 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

Federal Reserve officials do not set interest rates with presidential elections in mind. Investors do not widely expect rate cuts to be announced when Fed officials conclude a two-day meeting on Wednesday. Interest rate cuts could also help to improve housing affordability, an issue for young voters that has bedeviled the president. Falling interest rates could drive down mortgage rates. White House officials are careful not to comment on Fed rate decisions; Lael Brainard, a former Fed governor who heads Mr. Biden’s National Economic Council, laughed off a reporter’s question on the topic last week.

Persons: Jerome H, Powell, Biden, Lael Brainard Organizations: Federal, White, Fed, Investors, Economic Council Locations: Biden’s

☆ White House touts highest consumer confidence in more than 2 years
▼ + stars: | 2024-01-30 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden delivers remarks at the St. John Baptist Church in Columbia, South Carolina, on Jan. 28, 2024. The White House cheered the Conference Board report on Tuesday showing consumer confidence rising to its highest level in more than two years. Consumer confidence reached its highest level since December 2021, and was up more than 30% since its April 2020 low of 85.7. The Conference Board's consumer confidence index rose for a third straight month to 114.8 in January, up from a revised 108 in December 2023. Despite the increasing consumer sentiment, just 33% of voters approve of Biden's handling of the economy, according to CNBC's All-America Economic Survey in December.

Persons: Joe Biden, Lael Brainard, Donald Trump, Biden's, Trump Organizations: St, John Baptist Church, Economic, Biden Administration, America Economic Survey, CNBC, Biden, Trump, CNBC PRO Locations: Columbia , South Carolina

(Both men already hold sizable amounts of Alibaba stock.) Alibaba itself bought back $9.5 billion worth of stock last year, reducing its share count by over 3 percent. The stock purchases will probably bring attention back to Ma, a former English teacher who helped start Alibaba as an e-commerce platform. Ma, who hasn’t held a management role at Alibaba or Ant in years but remains a lifetime partner in the Alibaba Partnership, now largely focuses on Bill Gates-style philanthropy. And she’s expected to take swipes at Trump’s economic record as president.

Persons: Tsai, Ma, Alibaba, Ant, hasn’t, Bill Gates, Nikki Haley, Donald Trump, Eric Rosengren, Robert Kaplan, Kaplan, Rosengren, Archer, Daniels, Vikram Luthar, Scott Stuber, Spike Lee, Martin Scorsese, Jane Campion, Stuber, Ted Sarandos, Netflix’s, Bela Bajaria, Biden’s, Janet Yellen, Lael Brainard, they’re, Biden, ” Ray Fair Organizations: Pool Management, Alibaba, Brooklyn Nets, New York Liberty, Nets, Boston Fed, Dallas Fed, Republican, Biden, Yale, Times Locations: U.S, Hong Kong, China, Ma, Beijing, ’, Paris, New Hampshire, Dixville

☆ Top Economic Aide to Biden Pitches ‘Comeback’ in Hard-Hit America
▼ + stars: | 2024-01-22 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

Those “place-based” policies are often directed at former industrial strongholds that were battered by automation and foreign competition. They are a cornerstone of Mr. Biden’s economic agenda across several major pieces of legislation he has signed and a big part of his re-election pitch. Whether voters perceive them as successful could affect Mr. Biden’s chances in November, particularly in industrial swing states like Pennsylvania and Wisconsin. Mr. Biden “came to office determined to invest in all of America, to leave no community behind. It is working,” Ms. Brainard plans to say, according to a copy of her prepared remarks.

Persons: Biden’s, Lael Brainard, Biden “, ” Ms, Brainard, ” Organizations: Economic Council, Brookings Institution Locations: Pennsylvania, Milwaukee, Wis, Biden’s, Washington, Wisconsin, America, “

☆ Biden administration unveils proposed changes to big banks' overdraft fees
▼ + stars: | 2024-01-17 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Samuel Corum/Bloomberg via Getty ImagesWASHINGTON — The Consumer Financial Protection Bureau on Wednesday unveiled long-awaited changes to how the nation's biggest banks structure overdraft protection plans. Since 2000, American consumers have paid an estimated $280 billion in bank overdraft fees, according to CFPB data. During that time, the annual revenue big banks derived from overdraft fees soared, helped along by the boom in consumer debit cards tied directly to checking accounts. Taken together, these banks typically account for more than 80% of the overdraft fees charged in any given year. Banking trade groups deeply opposed to any changes in the overdraft rules have already begun to mobilize opposition, which is only expected to grow.

Persons: Washington . Samuel Corum, Joe Biden, Parks, Lael Brainard, Andrew Caballero, Reynolds, CFPB, Biden Organizations: Consumer Financial, Bloomberg, Getty Images WASHINGTON, National Economic, White, AFP, Getty, Banking, Consumer Bankers Association Locations: Washington ., Washington ,

RIVERHEAD, N.Y. (AP) — Prosecutors say they are planning a major announcement in their investigation of the suspected serial murders of a group of women whose bodies were found strewn along a coastal highway near Long Island's Gilgo Beach. The prime suspect in some of those killings, Rex Heuermann, is due in court Tuesday, months after he was charged in the deaths of three women. Suffolk County District Attorney Ray Tierney is set to make the announcement after a court hearing in the case in Riverhead, New York. Heuermann was charged in July with the killings of Melissa Barthelemy, Megan Waterman and Amber Costello, whose bodies were found buried along a remote beach parkway. Prosecutors said Heuermann is also suspected in the death of Maureen Brainard-Barnes, who vanished in 2007.

Persons: Rex Heuermann, Ray Tierney, Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes Organizations: — Prosecutors, Prosecutors, Netflix, ” Authorities Locations: RIVERHEAD, N.Y, Long, Suffolk County, Riverhead , New York, Suffolk, Riverhead, Gilgo Beach, Manhattan, Massapequa

☆ Rex Heuermann Faces Fourth Murder Charge in Gilgo Beach Serial Killings
▼ + stars: | 2024-01-16 | by ( Corey Kilgannon | ) www.nytimes.com time to read: 1 min

Rex Heuermann, whom prosecutors charged in July as the Gilgo Beach serial killer, was indicted Tuesday morning in connection with a fourth murder. Mr. Heuermann, 60, was previously charged in the killings of three of the four women who in 2010 were found bound in similar fashion with burlap, belts and tape on the Long Island oceanfront. In July, prosecutors called Mr. Heuermann the prime suspect in the murder of the fourth woman, Maureen Brainard-Barnes, 25, of Norwich, Conn. Ms. Brainard-Barnes disappeared in 2007, becoming the first of the so-called Gilgo Four to vanish. But charges in her killing were delayed, pending DNA test results on a hair recovered from her remains, and the grand jury in the case continued its work. Months later, it finally returned a murder indictment in connection with her death.

Persons: Rex Heuermann, Heuermann, Maureen Brainard, Ms . Brainard, Barnes Locations: Barnes, Norwich, Conn

☆ Gilgo Beach murders: timeline of the case and investigation
▼ + stars: | 2024-01-15 | by ( Emma Tucker | Authorities Find First Remains In Gilgo Beach Murders | ) edition.cnn.com time to read: +12 min

CNN has reached out to Heuermann’s attorney, the Suffolk County District Attorney’s Office and the Suffolk County Police Department for comment. Here is a timeline of the Gilgo Beach killings, how the investigation unfolded and what ultimately led to Heuermann’s arrest. Two days later, investigators discovered the remains of three additional victims – Maureen Brainard-Barnes, Amber Costello and Megan Waterman – strewn across a half-mile stretch on Gilgo Beach. Authorities later said they believed Gilbert’s death may have been accidental and not related to the Gilgo Beach slayings. The task force included the Suffolk County Police Department, the Suffolk County Sheriff’s Office, the New York State Police and the FBI.

Persons: Long, Rex Heuermann, ” Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Heuermann, Amber Lynn Costello, Shannan Gilbert, hadn’t, “, Barthelemy, ”, Jane Doe, Jessica Taylor, Spencer Platt, Steve Cohen, Barthelemy’s, Cohen, James Carbone, WH ”, Geraldine Hart, “ Jane Doe, Valerie Mack, Hart, Rodney Harrison, Ray Tierney, surveilling, “ Brainard, Tierney, Harrison, Eduardo Munoz Alvarez Organizations: CNN, Authorities, Attorney, CNN Sunday, Attorney’s Office, Suffolk County Police Department, Police Department, Police, Craigslist, Garden, Getty, New York’s Suffolk County Police Department, FBI, Suffolk County Police, Sheriff’s Office, New York State Police, New, Suffolk County Crime Laboratory, RH, & Associates Locations: Shore, York, Suffolk County, Suffolk, Megan Waterman Suffolk, Gilgo Beach, Gilgo, Jersey City , New Jersey, Manhattan, Madison, Manorville, Long, Wantagh , New York, Nassau County, New York City, Fire, Beach, Oak Beach , New York, ”, New York’s Suffolk County, Philadelphia, New York, Heuermann, Yaphank

☆ Biden criticizes US companies for keeping raised prices high 'even as inflation has come down'
▼ + stars: | 2023-11-28 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

President Biden criticized companies that have failed to bring prices down even as inflation eases. The White House has blamed inflation on issues like supply chain disruptions and Russia's invasion of Ukraine. The president also said companies that are taking advantage of inflation to boost profits are "price gouging." The Commerce Department has developed new tools to assess risks to the supply chain and has partnered with the Energy Department on the supply of renewable energy resources. The supply chain group is co-chaired by Lael Brainard, the White House National Economic Council director, and Jake Sullivan, the White House national security adviser.

Persons: Biden, —, Joe Biden, we've, Democrat Biden, Lael Brainard, Jake Sullivan Organizations: Service, Monday, Democrat, Human Services Department, Cabinet, The Commerce Department, Energy Department, Shipping, Transportation Department, White, National Economic Council, White House, White House Council, Economic Advisers, National Intelligence, Management, Science, Technology Locations: Ukraine, United States, U.S

☆ Biden will convene his new supply chain council and announce 30 steps to strengthen U.S. logistics
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden listens during a meeting with his administration's Supply Chain Disruptions Task Force and private sector CEOs in the South Court Auditorium of the White House December 22, 2021 in Washington, DC. "We're determined to keep working to bring down prices for American consumers and ensure the resilience of our supply chains for the future," said Lael Brainard, director of the White House National Economic Council and a co-chair of the new supply chain council. The announcement comes after supply chain problems fueled higher inflation as the United States recovered from the coronavirus pandemic in 2021. The Commerce Department has developed new tools to assess risks to the supply chain and has partnered with the Energy Department on the supply of renewable energy resources. Besides Brainard, the council will be co-chaired by Jake Sullivan, the White House national security adviser.

Persons: Joe Biden, We're, Lael Brainard, Biden, Brainard, Jake Sullivan Organizations: Force, White, National Economic Council, Democrat, Human Services Department, Cabinet, The Commerce Department, Energy Department, Shipping, Transportation Department, White House, White House Council, Economic Advisers, National Intelligence, Management, Science, Technology Locations: Washington , DC, United States, U.S

WASHINGTON (AP) — President Joe Biden on Monday will convene the first meeting of his supply chain resilience council, using the event to announce 30 actions to improve access to medicine and needed economic data and other programs tied to the production and shipment of goods. “We’re determined to keep working to bring down prices for American consumers and ensure the resilience of our supply chains for the future,” said Lael Brainard, director of the White House National Economic Council and a co-chair of the new supply chain council. The announcement comes after supply chain problems fueled higher inflation as the United States recovered from the coronavirus pandemic in 2021. The Commerce Department has developed new tools to assess risks to the supply chain and has partnered with the Energy Department on the supply of renewable energy resources. Political Cartoons View All 1265 ImagesBesides Brainard, the council will be co-chaired by Jake Sullivan, the White House national security adviser.

Persons: Joe Biden, “ We’re, ”, Lael Brainard, Biden, Brainard, Jake Sullivan Organizations: WASHINGTON, White, National Economic Council, Democrat, Human Services Department, Cabinet, The Commerce Department, Energy Department, Shipping, Transportation Department, White House, White House Council, Economic Advisers, National Intelligence, Management, Science, Technology Locations: United States, U.S

☆ Biden to invoke Cold War-era law to boost medical supplies
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden speaks at a dinner hosted by the Human Rights Campaign at the Washington Convention Center in Washington, U.S., October 14, 2023. REUTERS/Ken Cedeno/File Photo Acquire Licensing RightsWASHINGTON, Nov 27 (Reuters) - President Joe Biden will invoke a Cold War-era measure to boost investment in U.S. manufacturing of medicines and medical supplies that he has deemed important for national defense, the White House said. Biden will authorize the Department of Health and Human Services to use powers under the Cold War-era Defense Production Act to enable investments in "essential medicines," the White House said in a statement. The areas of investment also include "medical countermeasures," which include supplies that diagnose, prevent, or treat diseases related to chemical, biological, radiological, or nuclear attacks. He is holding his first meeting of a new White House Council on Supply Chain Resilience on Monday.

Persons: Joe Biden, Ken Cedeno, Biden, Lael Brainard, Jason Lange, Jeff Mason, Sonali Paul Organizations: Human, Washington Convention Center, REUTERS, Rights, of Health, Human Services, White, Democrat, White House Council, Economic Council, Thomson Locations: Washington , U.S, U.S

Chang said the Biden-Xi meeting was a “good” one, pointing to their agreement to resume high-level military communications. “It should help reduce the tensions between the U.S. and China, and it should increase stability of Taiwan Strait,” Chang said. Washington has a security pact with Taiwan to deter any armed attack from Beijing and has stepped up its support for the island. Xi sought assurances from Biden that the U.S. would not support Taiwan's independence and requested that Washington support China’s peaceful reunification with Taiwan. Sun Yun, director of the China program at the Washington-based Stimson Center think tank, said Washington won’t accept Beijing’s new demand to support peaceful reunification.

Persons: Joe Biden, China's Xi, Morris Chang, ” Chang, Chang, Biden, Xi, Nancy Pelosi, ” Biden, Sun Yun, Washington won’t, Sun, Tsai Ing, Tsai, Kamala Harris, Antony Blinken, Lael Brainard, Fumio Kishida Organizations: FRANCISCO, Taiwan Semiconductor Manufacturing Company, Asia Pacific Economic Cooperation, U.S, Washington, Stimson, APEC, Japanese Locations: Taiwan, Asia, Pacific, San Francisco, China, Taiwan Strait, Beijing, Washington, The U.S, U.S, “ China

☆ NEC Director Lael Brainard: Both the policies and economic record of President Biden are very strong
▼ + stars: | 2023-11-06 | 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 EmailNEC Director Lael Brainard: Both the policies and economic record of President Biden are very strongLael Brainard, National Economic Council Director and former Federal Reserve vice chair, joins 'Squawk Box' to discuss the state of the U.S. economy, whether 'Bidenomics' is working, why Americans haven't been on board with President Biden's economic plan, and more.

Persons: Lael Brainard, Biden, haven't, Biden's Organizations: NEC, National Economic, Federal Reserve Locations: U.S

NEW YORK (AP) — “Junk fees” are just what they sound like: hidden or misleading charges that increase the total cost of concert tickets, hotel rooms, utility bills and other goods and services. Here's what to know:WHAT QUALIFIES AS A JUNK FEE? That should reduce junk fees for financial advice for people saving for retirement. HOW CAN I AVOID PAYING JUNK FEES? HOW MUCH DO THESE FEES COST CONSUMERS?

Persons: Biden, Ariel Nelson, Nelson, ”, “, Lina Kahn, Lael Brainard, Charles Schwab Organizations: Federal Trade Commission, Consumer Finance Protection Bureau, Department of Labor, National Consumer Law Center, Republican, Consumer Financial, Department, Labor, Securities and Exchange Commission, Interest, White, National Economic Council, FTC, Associated Press, Charles, Charles Schwab Foundation, Inc, AP

☆ New Biden target in junk fee crackdown: retirement advisers
▼ + stars: | 2023-10-31 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

The proposed Labor Department rules require retirement plan providers to only sell commodities and insurance products, such as annuities, to clients when doing so is in the customer's best interest. "Financial advisors should put savers best interest first, and not sell them lower returning products in order to maximize their own fees," Lael Brainard, director of the White House National Economic Council, said. "When a retirement saver pays for trusted advice that is actually not in their best interest and comes at a hidden cost to their lifetime savings, that's a junk fee," Brainard said. Taking on "junk fees" gives Biden and his allies fodder to show they are helping people tackle costs as many Americans are dissatisfied with his economic stewardship. The proposed rule would ensure that retirement advisers must provide advice in the saver’s best interest, regardless of whether they are recommending a security or insurance product and where they are giving advice, senior administration officials said.

Persons: Joe Biden, Leah Millis, Biden, Lael Brainard, Brainard, doesn't, Jarrett Renshaw, Michael Perry Organizations: Artificial Intelligence, White, REUTERS, Labor Department, National Economic Council, Securities, Exchange Commission, Thomson Locations: Washington , U.S, IRAs

☆ Biden administration to crack down on ‘junk fees’ in retirement plans
▼ + stars: | 2023-10-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Biden administration is cracking down on so-called "junk fees" in retirement accounts. The "hidden costs" of financial conflicts in retirement plans amount to "junk fees," Lael Brainard, director of the White House National Economic Council, said during a press call Monday evening. watch now"It's time to get junk fees out of the retirement savings market," said Julie Su, acting secretary of the Labor Department, during the call. However, the Labor Department can regulate them if sold in a retirement account, according to a Biden administration official speaking on background. It's time to get junk fees out of the retirement savings market.

Persons: Julie A, Su, Tom Williams, Biden, There's, Lael Brainard, Julie Su, Sen, Bill Cassidy, Virginia Foxx, Anna Moneymaker, Obama Organizations: Labor, Health, Education, Washington , D.C, CQ, Inc, Getty, U.S . Department of Labor, Finance, Securities and Exchange Commission, Congressional Research Service, White, National Economic Council, Labor Department, Rep, Economic, SEC, Biden, Department of Labor Locations: Washington ,

☆ Exclusive: Trucking firm prepares long-shot bid for Yellow, seeks US Treasury support
▼ + stars: | 2023-10-30 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

Jack Cooper officials, including Executive Chair Sarah Amico, have been talking with Biden administration officials in recent months to get support for extending the terms of the loan. The White House said it was referring all Jack Cooper stakeholder inquiries to the Treasury Department. Jack Cooper and the Teamsters union declined to comment. Yellow owns approximately 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing. Trucking firm Estes Express submitted a revised bid worth $1.525 billion in cash for Yellow Corp's shipment centers, topping a $1.5 billion bid from Old Dominion Freight Line (ODFL.O).

Persons: Mike Blake, Biden, Jack Cooper, Sherrod Brown, Republican Roger Marshall, Bernie Sanders, Trump, Jack Cooper's, Sarah Amico, Amico, Lael Brainard, Brendan Danaher, Bob Casey, Tammy Baldwin, Jarrett Renshaw, Dietrich Knauth, Heather Timmons, Matthew Lewis Organizations: U.S, Yellow, Jack Cooper Transport, Ford, Brotherhood of Teamsters, Senators, Republican, Treasury Department, Reuters, Yellow Corp, Treasury, Biden, Democratic, U.S . Senate, Teamsters, White, National Economic Council, Democratic U.S, Citadel, MFN Partners, Walmart, Trucking, Express, Old Dominion Freight, Thomson Locations: Mexico, San Diego , California, U.S, Georgia, Pennsylvania, Wisconsin, Nashville , Tennessee, Philadelphia, New York

Search resuls for: "Brainard"

25 mentions found