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☆ The Biden administration wants to make supply chains so strong that you don't have to think about them
▼ + stars: | 2023-11-28 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The Biden administration is taking action to keep supply chains strong after their pandemic woes. That includes forming a council on supply chain resilience, and pouring money into domestic drug production. To help keep supply chains strong, the White House is forming a new Council on Supply Chain Resilience and pouring money into alleviating drug shortages. Other new supply chain actions include creating a new data-driven Supply Chain Center with the Department of Commerce, which will analyze potential supply chain risks, and $275 million from the Department of Energy in grants towards clean energy supply chains. "Honestly, I think if we're successful, Americans won't have to think about supply chains," Gamble said, "because that means that they're more resilient, they're more stable."

Persons: Biden, —, frustratingly —, Joelle Gamble, Gamble Organizations: Service, White, National Economic Council, Department of Commerce, Department of Energy, Federal Reserve Bank of New Locations: United States

☆ 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

☆ 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

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

Jack Guez | Afp | Getty ImagesAfter a weekend of crisis and tumult, Sam Altman has returned as the CEO of OpenAI. Nathan Laine | Bloomberg | Getty ImagesBret Taylor, board chair Bret Taylor is currently a board member at the e-commerce platform Shopify . It isn't clear if Taylor's involvement with his own AI startup will cease with his appointment to lead OpenAI's board. OpenAI's board fired Altman Friday after determining he was "not consistently candid in his communications," but its members never elaborated further. Jack Guez | AFP | Getty ImagesIlya Sutskever Ilya Sutskever co-founded OpenAI and serves as its chief scientist.

Persons: Sam Altman, Ilya Sutskever, Jack Guez, Altman, There's, Satya Nadella, Nadella, Here's, Bret Taylor, Nathan Laine, He's, Elon, Taylor, Salesforce, Larry Summers, David A, CNBC Larry Summers Larry Summers, Clinton, Summers, Jack Dorsey, Adam D'Angelo Adam D'Angelo, D'Angelo, Helen Toner, CSET, Vox, Jerod Harris, Helen Toner Helen Toner, Toner, Tasha McCauley, Carlton Laguna Nigel, Tasha McCauley Tasha McCauley, Joseph Gordon, Levitt, McCauley, Ilya Sutskever Ilya Sutskever, Sutskever, Greg Brockman, Brockman, Brockman's, Sven Hoppe Organizations: Tel Aviv University, Afp, Getty, Microsoft, CNBC, Sequoia, Tiger Global, Salesforce, Viva Technology Conference, Bloomberg, Google, Economic, Grogan, Harvard University, Obama, Economic Council, Twitter, Meta, Facebook, The Ritz, Carlton, Georgetown University's Center for Security, Emerging Technology, Philanthropy, Business Development, Ritz, Rand Corporation, GeoSim Systems, AFP, University of Toronto, Stanford, Technical University of Munich Locations: Tel Aviv, Paris, Davos, Switzerland, Washington, Laguna Niguel, Dana Point , California, Russian Israeli, Canadian

☆ Israel-Hamas War Israel Indicates It Will Expand Its Offensive Into Southern Gaza
▼ + stars: | 2023-11-18 | by ( Ephrat Livni | Victoria Kim | ) www.nytimes.com time to read: +5 min

The letter affirms President Biden’s opposition to a cease-fire, challenging demands from hundreds of officials that Israel halt its military offensive in the Gaza Strip. Israel’s government and Mr. Biden have rejected such a step as incompatible with Israel’s goal of destroying Hamas. The newer letter was delivered to Mr. Biden on Tuesday with 115 names, but its organizers continued to collect signatures until Friday. The earlier letter of dissent was delivered to Mr. Biden with a signature count but without names, although the signatories are known to that letter’s organizers. She cited an Associated Press-NORC Center for Public Affairs Research poll conducted early this month that found that half of Democrats approved of Mr. Biden’s handling of the Israeli-Palestinian conflict.

Persons: Biden’s, Obama, Biden, Ron Klain, Lawrence H, Summers, Barack Obama, Colin H, Kahl, Joseph W, Westphal, Mr, Samantha Power, Power, Antony J, Blinken, Josh Paul, Soifer Organizations: Biden, Democratic, National Economic Council, Mr, U.S . Agency for International Development, United Nations, White House, State Department, Capitol, State Department’s Bureau, Political, Military Affairs, Jewish Democratic Council of America, Associated Press, NORC, for Public Affairs Research, Reuters Locations: Israel, Gaza, U.S, Saudi Arabia, United States

☆ 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

☆ Stock futures are little changed after the S&P 500's best week of 2023: Live updates
▼ + stars: | 2023-11-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

U.S. equity futures were flat on Sunday evening after the major averages capped their best week so far this year. S&P 500 futures ticked higher by 0.03% and Nasdaq 100 futures hovered below the flat line at 0.01%. November is the best-performing month for the S&P 500, according to the Stock Traders' Almanac. The S&P 500 has generated an average return of 7% from November through April since then, he said. Several other Fed officials are making public remarks later in the week as well, including New York Federal Reserve President and CEO John Williams, Atlanta Federal Reserve President Raphael Bostic, Richmond Federal Reserve President Thomas Barkin and Dallas Fed President Lorie Logan.

Persons: Dow, LPL, Adam Turnquist, Turnquist, Walt Disney, Wynn, Jerome Powell, Bharat Ramamurti, CNBC's, Lisa D, Cook, John Williams, Raphael Bostic, Thomas Barkin, Lorie Logan Organizations: Dow Jones, Nasdaq, Stock Traders, MGM Resorts, Occidental Petroleum, National Economic Council, New York Federal Reserve, Atlanta Federal Reserve, Richmond Federal, Dallas Fed Locations: Horton, Atlanta, Richmond

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

☆ 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 ,

☆ 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

☆ The Fed probably won't cut interest rates just yet — but its next move is expected to be good for Americans
▼ + stars: | 2023-10-31 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's expected to pause interest rate hikes. On Wednesday, the Federal Open Market Committee is expected to announce its next interest rate decision, and a hike probably isn't in the cards. In September, the Fed paused interest rate hikes as it continued to receive promising data on the country's economic recovery. Powell has not indicated whether a interest rate cut will come this year to get consumers further relief. AdvertisementAdvertisementEven if interest rate cuts are not on the horizon anytime soon, administration officials are confident Americans will not face a recession as they enter 2024.

Persons: It's, —, Nick Bunker, Bunker, Jerome Powell, Powell, we've, Greg McBride, we're, McBride, Janet Yellen, Joelle Gamble, Gamble Organizations: Federal, Service, Fed, North America, New York Federal, Bloomberg, White, National Economic Council Locations: Israel, Ukraine

☆ 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

☆ Joe Biden wants more people to start living in empty offices
▼ + stars: | 2023-10-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Office vacancies are at a 30-year high as WFH continues after the pandemic. But the White House initiative will make more than $35 billion available from existing federal programs in the form of grants and low-interest loans to encourage developers to convert offices into residential. Office vacancies stand at a 30-year high of 18.2%, according to research by CBRE. AdvertisementAdvertisementThe White House hopes the initiative will alleviate both these problems, creating more housing and revitalizing the commercial real estate sector. Conversions are faster than new construction, 20% cheaper, and produce fewer greenhouse gas emissions, the White House added.

Persons: —, Joe Biden's, Biden, Silverstein, Lael Brainard Organizations: Biden Administration, Service, Resources, Department, Transportation, CBRE, National Association of Realtors, It's, National Economic Council, ABC News Locations: Manhattan, New York, San Francisco, It's

☆ Explainer: What is pushing the Nigerian naira to record lows?
▼ + stars: | 2023-10-27 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +4 min

Investors cheered when Tinubu lifted the currency controls, hoping a unified exchange rate would make it easier to access foreign currency, but that is yet to happen. Banks then repaid foreign credit lines with their own funds when the central bank did not pay out. New central bank governor Yemi Cardoso said clearing the backlog was a priority but he gave no timeline for how long it would take. The country's forex reserves fell to $33.5 billion in September from $37 billion in January, central bank data shows. Banks use their open net positions on foreign currency to finance short-term trade lines without resorting to the central bank for bidding.

Persons: Bola Tinubu, Tinubu, corporates, Banks, Yemi Cardoso, Chijioke Ohuocha, MacDonald Dzirutwe, Hugh Lawson Organizations: JPMorgan, FX, National Economic Council, BANK, Thomson Locations: ABUJA, Nigeria

☆ White House asking Congress for $6 bln to extend internet subsidy program -official
▼ + stars: | 2023-10-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The White House says the program, overseen by the Federal Communications Commission and known as the Affordable Connectivity Program, helps current users save over $500 million per month on their internet bills. The $6 billion in additional government funding would extend the program through December 2024, the official said. "Congress should act swiftly to fund the Affordable Connectivity Program and prevent more than 21 million households from losing access to affordable, high-speed internet," said White House National Economic Council director Lael Brainard in a statement to Reuters. Internet service providers say there are about 27 million additional U.S. households that are eligible but are not yet enrolled. Verizon (VZ.N), Comcast (CMCSA.O) and AT&T (T.N) have all called for Congress to extend the program that could run out of money by March.

Persons: Mike Segar, Lael Brainard, David Shepardson Organizations: Sabey Data, REUTERS, Rights, Reuters Wednesday, Federal Communications Commission, Program, White, National Economic, Verizon, Comcast, Thomson Locations: Intergate.Manhattan, Manhattan, New York

FILE PHOTO: An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. REUTERS/Stephanie Lecocq/File Photo Acquire Licensing RightsWASHINGTON, Oct 24 (Reuters) - Apple (AAPL.O) on Tuesday will announce plans to make parts, tools and documentation needed to fix its iPhones and computers available to independent repair shops and consumers nationwide, the White House said. In recent years, Apple executives have begun touting the longevity and resale value of its devices while making it easier to fix them and to access spare parts. Apple started distributing parts and manuals to some independent repair shops in 2019. While Apple has provided spare parts to repair shops since 2019, the California bill also requires it to supply diagnostic tools to those shops as well.

Persons: Stephanie Lecocq, Apple, Joe Biden, Lael Brainard, Brainard, Nathan Proctor, Proctor, Andrea Shalal, Stephen Nellis, Lisa Shumaker Organizations: Apple, REUTERS, Rights, National Economic, Manufacturers, Thomson Locations: Lille, France, U.S, California, Colorado , New York, Minnesota, San Francisco

☆ CFPB pushing to give consumers more control over their financial data
▼ + stars: | 2023-10-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

The Personal Financial Data Rights rule would ensure consumers' legal right to their checking and prepaid account, credit card and digital wallet history and require fee-free data sharing among financial institutions, according to a release. It also includes restrictions on the monetization of sensitive consumer data by banks and tech companies and permits customers to revoke access to their data. "When it comes to our financial lives, a handful of very large banks and financial firms control much of the market," CFPB Director Rohit Chopra told reporters Thursday. If adopted, the rule would reactivate a statute of the 2010 Dodd-Frank Act tasking the CFPB with ensuring fair competition for consumer financial products. Biden "encouraged the CFPB to consider issuing rules to make it easier for consumers to take their financial data to a new financial services provider," Brainard told reporters Thursday.

Persons: Rohit Chopra, Dodd, Biden, Chopra, Lael Brainard, Joe Biden's, Brainard Organizations: Financial, WASHINGTON, Consumer Financial, Frank, National Economic Council, CNBC Locations: U.S

WASHINGTON (AP) — The Federal Trade Commission on Wednesday proposed a rule to ban any hidden and bogus junk fees, which can mask the total cost of concert tickets, hotel rooms and utility bills. President Joe Biden has made the removal of these fees a priority of his administration. The Democrat's effort has led to a legislative push and a spate of initiatives aimed at helping consumers. The FTC estimates that consumers waste 50 million hours each year searching for the total price for tickets and lodging. After Biden discussed junk fees at a February meeting with aides, the U.S. Chamber of Commerce issued a statement that the “Washington-knows-best approach” would lead to fewer choices for consumers and make the economy less competitive.

Persons: Joe Biden, “, Lina Kahn, Biden, Lael Brainard Organizations: WASHINGTON, Federal Trade Commission, Administration, FTC, Consumer Financial, Bureau, White, National Economic Council, U.S . Chamber of Commerce Locations: U.S, Washington

☆ The Biden administration wants to completely ban the hidden fees that make your plane and concert tickets unexpectedly expensive
▼ + stars: | 2023-10-11 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The FTC proposed a rule on Wednesday that would ban all hidden and misleading fees. Businesses who use hidden fees might have to give consumers refunds, per the rule. AdvertisementAdvertisementThe Biden administration has been trying to crack down on the hidden fees that pop up when you try to book a plane or a concert ticket or even just order food — and now wants to outright ban them. Those junk fees "plague" Americans across all sorts of transactions. The CFPB's Wednesday guidance clarified that provision to ensure every American knows they do not need to pay junk fees to get basic information from their bank.

Persons: —, Biden, Lina Khan, Khan, that's, Vicki Morwitz, Morwitz, Rohit Chopra, Lael Brainard Organizations: FTC, Service, Federal Trade Commission, Columbia Business School, Consumer Financial, —, Economic Locations: America, United States

☆ White House announces new efforts to crack down on 'tens of billions' in junk fees
▼ + stars: | 2023-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — The White House on Wednesday will announce new initiatives to rein in tens of billions worth of surcharges tied to goods and services, or "junk" fees, in partnership with two of the nation's leading consumer-protection agencies. "When people request basic information about their accounts, big banks cannot charge them massive fees or trap them in endless customer service loops," Chopra told reporters on Tuesday. "Charging a competitive price for a legitimate service makes sense but charging junk fees for basic customer responsiveness doesn't. Both the FTC and the CFPB have taken preliminary actions toward cracking down on junk fees over the past few months. Earlier this year, the CFPB released a rule proposal on excessive credit card fees, while the FTC began targeting unfair practices in ticketing and other fees in late 2022.

Persons: Joe Biden, WASHINGTON —, surcharges, Lael Brainard, Lina Khan, Rohit Chopra, Khan, Chopra, Wells Organizations: WASHINGTON, National Economic Council, Federal Trade, Consumer Financial, Bank of America, Regions Bank, Information, Regulatory Affairs, NEC, of Economic Advisers, FTC Locations: Israel, Washington , DC

☆ Here's where the jobs are for September 2023 — in one chart
▼ + stars: | 2023-10-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The 96,000 net jobs gain last month was more than the combined total for August and July. The U.S. labor market saw broad gains in September in a surprisingly strong jobs report that sparked a quick sell-off in the bond market . Bars and restaurants were the strongest group within leisure and hospitality, adding 61,000 jobs. That is up sharply from the 6,000 jobs added in the same month a year ago. The job market has continued to defy expectations of a significant slowdown, and in fact the numbers for August and July were revised upward.

Persons: Jason Furman, Furman, they've, subsector Organizations: Bureau of Labor Statistics, Harvard, National Economic Council, BLS, Permanente, Screen Actors Locations: U.S

☆ Something is breaking in financial markets — Here's what's behind the sell-off
▼ + stars: | 2023-10-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

Brendan McDermid | ReutersThat cracking sound in financial markets isn't the typical kind of break, where one asset class or another fractures and gives way. "The cost of capital is going up, companies are going to have to refinance at a higher rate." That sentiment was buttressed this week, when at least four central bank officials either endorsed hikes or indicated that higher rates would be staying in place for an extended period. Consumers, for one, are feeling the squeeze of higher rates on everything from mortgages to credit cards to personal loans. "Now, at some point, my guess is that markets will eventually get to cheap enough levels where you'll bring buyers in.

Persons: Brendan McDermid, Quincy Krosby, Krosby, Larry McDonald, Treasurys, McDonald, It's, Joseph LaVorgna, LaVorgna, Donald Trump, I've Organizations: New York Stock Exchange, Federal Reserve, Treasury, LPL, Labor Department, Wall, P Bank ETF, Congressional, Treasury Department, The, White House, National Economic Council, Nikko Securities Locations: New York City, Washington, U.S

☆ NEC Director Lael Brainard: The inflation data today is absolutely good news
▼ + stars: | 2023-09-29 | 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: The inflation data today is absolutely good newsLael Brainard, National Economic Council Director, joins 'Squawk on the Street' to discuss the August PCE price index, inflation outlook, the potential economic impact of a government shutdown, and more.

Persons: Lael Brainard Organizations: NEC, National Economic

☆ Sam Bankman-Fried talked crypto with Jerome Powell the same month that the Fed chair met with JPMorgan and Goldman Sachs CEOs
▼ + stars: | 2023-09-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried met with Jerome Powell last year to discuss crypto, per the NYT. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementJerome Powell, the chair of the Federal Reserve, once met with Sam Bankman-Fried to discuss crypto, The New York Times reported. Prior to the meeting, Wetjen sent the Fed chair some policy papers that FTX had recently published, according to the NYT. The FDIC and a spokesperson for Bankman-Fried did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Sam Bankman, Fried, Jerome Powell, SBF, Martin Gruenberg, —, Mark Wetjen, Wetjen, FTX, Powell, stablecoins, cryptocurrencies, Goldman Sachs, David Solomon, Jamie Dimon, Morgan Stanley, James Gorman, Lael Brainard Organizations: Wall Street, Service, Federal Reserve, The New York Times, Commodity Futures Trading Commission, JPMorgan Chase, Times, Fed, National Economic Council, Federal Deposit Insurance Corporation, FDIC, Customers Locations: Alameda

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