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Years before becoming House speaker, Republican Rep. Mike Johnson of Louisiana played a leading role aiding Donald Trump’s efforts to overturn the 2020 election. That history will be on display Friday, with Johnson set to deliver remarks alongside the former president about “election integrity” – a phrase Trump often uses to describe the lie that the 2020 election was rigged and unfounded concerns about future mass voter fraud. Johnson carved out an influential role after the 2020 election, helping Trump’s attempts to subvert the will of the people and overturn the legitimate results. He later recruited a majority of House Republicans to endorse a Trump-backed lawsuit seeking to invalidate the results from four key states that Trump lost: Pennsylvania, Georgia, Michigan and Wisconsin. (In truth, as the Supreme Court later affirmed, judges have the power to review state election laws.)
Persons: Mike Johnson, Donald Trump’s, Johnson, , Trump, Trump’s, Joe Biden’s, ” Johnson, Hugo Chávez’s, Smartmatic, would’ve, Biden, – Johnson Organizations: Republican, Trump, Voting Systems, Biden, Dominion, Fox News, House Republicans, Republicans, Democratic Locations: Louisiana, Hugo Chávez’s Venezuela, Georgia, Pennsylvania, Michigan, Wisconsin, Arizona
But the impression that Simpson’s all-consuming trial had on shaping the modern media environment cannot be overstated. Simpson’s trial gave way to a media landscape dominated by salacious reality television and talking head-driven cable news. It’s difficult to imagine Trump being elected to the White House without the three-legged stool that Simpson’s trial played a crucial role in building. Reality TV had started earlier, but after Simpson there was a massive profusion of ‘Reality TV,’” Socolow said in an email. “That’s how ‘The Apprentice’ gave Donald Trump a comeback in American culture, and he rode his reality TV stardom to the White House.”
Persons: New York CNN — O.J, Simpson, Donald Trump, Nicole Brown Simpson, Ronald Goldman, Simpson’s, Jeffrey Toobin, Nancy Grace, Greta Van Susteren, Dan Abrams, Harvey Levin, Gregg Jarrett, Al Cowlings, Allen J, Lance Ito’s, Robert Kardashian, Kardashian, Peter Jennings, Tom Brokaw, Andy Lack, , Michael Socolow, Rupert Murdoch, Socolow, , Ted Turner, Murdoch, Trump, “ Simpson, ” Socolow Organizations: New York CNN, National Football League, Patrol, Bronco, Los Angeles Times, CNN, Court TV, The New York Times, NBC, University of Maine Communications, Fox, Fox News, TV Locations: New York, Los Angeles, California, Brentwood, The, Australian
The crisis in Gaza is entirely human-made, a result of Israel’s war on Hamas and a near-complete siege of the territory, aid experts say. For years before the latest war, Gaza was subject to an Israeli blockade, backed by Egypt. Image A child being treated for malnutrition at Kamal Adwan Hospital in northern Gaza last week. Critics of the way Israel is conducting the war say that the hunger crisis derives largely from Israeli restrictions on where trucks can enter and from an onerous inspection process. (UNRWA said last month that Israel had denied the group access to northern Gaza, though Israel has rebutted that claim.)
Persons: , Jens Laerke, Kamal Adwan, Mahmoud Issa, José Andrés, Arif Husain, Gazans, Israel, Biden, ” Adam Sella Organizations: Hamas, United Nations, Kamal, Reuters, Food Locations: Israel, Gaza, United Nations, Sudan, Somalia, Egypt, Gaza’s, South Sudan, Israeli, United
Representative Alexandria Ocasio-Cortez has made her first-ever contribution to the campaign arm of House Democrats — a $260,000 donation that is a milestone in the New York Democrat’s long and complicated relationship with her own party’s political establishment. In an interview, Ms. Ocasio-Cortez said her decision to give to the campaign arm, the Democratic Congressional Campaign Committee, was driven primarily by the dire threat of Republicans staying in power. She feared a Republican-controlled House would not certify a potential re-election of President Biden this fall. “The entire country saw a terrorist attack on the United States Capitol that was predicated on not certifying the duly submitted results of a presidential election,” Ms. Ocasio-Cortez said of the riot on Jan. 6, 2021. She arrived on Capitol Hill as the youngest woman ever elected to the House and as an instant insurgent instigator who protested that fall in the office of the incoming House speaker, Nancy Pelosi, before even being sworn in.
Persons: Alexandria Ocasio, Cortez, Democrats —, Ocasio, Biden, ” Ms, Ms, Joseph Crowley, Nancy Pelosi Organizations: Democrats, Democratic Congressional, Republican, United States Capitol, Democratic, Bronx, Capitol Locations: York, Queens
That may not be a surprise to consumers who are still feeling the weight of higher prices. Inflation — as measured by the consumer price index — rose 3.5% from a year ago and 0.4% for the month. The consumer price index, or CPI, tracks the average changes in prices over time for consumer certain goods and services. Consequently, if your wages haven't increased by that much over the same period, you're more likely to feel the pinch of higher prices. About 60% of households are living paycheck to paycheck, McBride said.
Persons: Kazuhiro Nogi, Brett House, Eugenio Aleman, Raymond James, Aleman, Greg McBride, McBride Organizations: Afp, Getty Images, Columbia Business School, Consumers, Bankrate Locations: Tokyo
Ukraine has identified 100 Patriots that it believes its allies can spare, its foreign minister said. AdvertisementUkraine's foreign minister said his team had identified more than 100 Patriot air-defense systems that its allies could spare, as the country struggles with munition shortages against Russian attacks. Ukraine has between three and five Patriot systems; the exact number and location of their deployment have been kept secret. Related storiesUkrainian President Volodymyr Zelenskyy said earlier this month that Ukraine needs 25 Patriot systems with between six and eight batteries each to protect the country fully. AdvertisementThe Post reported that Zelenskyy told Kuleba to focus on persuading countries with spare Patriot systems to transfer them to Ukraine.
Persons: Dmytro Kuleba, , Volodymyr Zelenskyy, Zelenskyy, Kuleba, Anthony Sweeney, US Army Kuleba, Josep Borrell, Borrell Organizations: Patriots, Service, Washington Post, Patriot, US Army, Congress, U.S, Army, Post, Getty Locations: Ukraine, Greece, Russia, Zaporizhzhia, NATO, Brussels
Due to lack of funds, April will be the final month the ACP can provide full benefits, the FCC said Tuesday. Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said. After that, program subscribers may have to pay hundreds of dollars more per year to stay online, or could potentially have to give up internet service entirely. Many ACP subscribers have told CNN that without help, they could have to choose between paying for internet and putting food on the table. CNN is reaching out to major internet providers for comment on the FCC’s call for those voluntary measures.
Persons: Biden, Mike Johnson, Chuck Schumer, Ohio Democratic Sen, Sherrod Brown, Kansas Republican Sen, Roger Marshall, Organizations: CNN, Federal Communications Commission, FCC, ACP, Ohio Democratic, Kansas Republican, Senate Locations: Congress
In the letter, Greene laid out a detailed case against the speaker, accusing Johnson of failing to deliver on promises he ran on and breaking legislative procedural rules. She even blamed him for jeopardizing the House Republican majority by not doing more to prevent some retiring GOP members from leaving Congress early. Part of the argument to try and dissuade Greene from moving forward with the process, according to sources, is that ousting Johnson would only deliver Democrats the House majority. “And no, electing a new Republican Speaker will not give the majority to the Democrats. That only happens if more Republicans retire early, or Republicans actually vote for Hakeem Jeffries.
Persons: Marjorie Taylor Greene, Mike Johnson’s, Johnson, Greene, Marjorie, “ Mike Johnson, ” Greene, , , Johnson’s, Thomas Massie, Chip Roy, Warren Davidson, CNN’s Manu Raju, ” “ I’ve, Kevin McCarthy, she’s, that’s, Mike Johnson, Trump, Hakeem Jeffries, It’s, Donald Trump, of Justice that’s, ” CNN’s Haley Talbot, Morgan Rimmer Organizations: CNN, GOP, House GOP, Louisiana Republican, Republican, Democratic, White House, Republicans, , of Justice Locations: Georgia, Washington, Louisiana, Ukraine
When Britain’s foreign secretary, David Cameron, went to Washington on Tuesday, he made all the usual stops, from the State Department to Capitol Hill. But it was his pilgrimage to Palm Beach, Fla., where he met former President Donald J. Trump for dinner on Monday evening at Mar-a-Lago, that grabbed most of the attention. Mr. Cameron is the first top British government official to meet with Mr. Trump since he left the White House. His visit — ostensibly to cajole Mr. Trump into backing additional American military aid to Ukraine — attests to Mr. Trump’s influence over a far-right faction of House Republicans who have been holding up a vote. Mr. Cameron, a onetime prime minister, has emerged as almost a shadow British leader abroad, standing in for Prime Minister Rishi Sunak, who is busy with a looming general election at home.
Persons: David Cameron, Donald J, Trump, Cameron, , Ukraine —, Rishi Sunak Organizations: State Department, Capitol, British, Mr, White, House Republicans Locations: Washington, Palm Beach, Fla, Ukraine
A recent Wall Street Journal poll of American voters in swing states found that while people think the national economy is in bad shape, they feel good about their personal finances. In Gallup polling from last April, just 16% rated the economy as “good” or “excellent,” but 45% said their personal finances were “good” or “excellent.”But according to available data the economy has improved. But the dichotomy between how people feel about their own finances and the economy at large presents a different conundrum. It’s important to look at consumer behavior and not just sentiment when determining how Americans feel about the economy, said Harris. Those behaviors signal that Americans, overall, actually feel pretty good about their economy.
Persons: New York CNN — Nathan Frederiksen, , , ” Frederiksen, It’s, “ We’ve, I’ve, ” He’s, , Wisconsin —, Joe Biden, Ben Harris, else’s, ” Harris, Harris, Jonathon Barricklow, Barricklow, we’d, Dave Koloskee, he’ll, Megan McCoy, we’re, ” McCoy, Julie Levitch, Suze Orman, she’s, I’m, ’ ”, , they’re Organizations: New, New York CNN, CNN, Gallup, Economic, Brookings, Bureau of Labor Statistics, Facebook, Kansas State University, , Finance, LinkedIn Locations: New York, Boise , Idaho, Arizona, Georgia, Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, it’s, United States, Bowling Green , Ohio, East, Europe, Erie , Pennsylvania, Scottsdale , Arizona
A four-day workweek could be the antidote to employee burnout. The biggest benefits of a four-day workweek: Happier, more productive employeesExos reports that six months after introducing a four-day workweek, business performance and productivity remained high, revenue increased and turnover dropped. But the biggest benefit of embracing a four-day workweek has been the increased efficiency, says Hill. Roughly 85% of Exos' employees work in-person, while the remaining 15% are hybrid or remote. How the four-day workweek is gaining momentum
Persons: Greg Hill, There's, Adam Grant, Marissa Shandell —, Exos, Hill Organizations: Fortune, Adobe, Humana, CNBC, Wharton School, Business Locations: U.S
Outrage over a strike by the Israel Defense Forces that killed seven aid workers in Gaza has supercharged resistance among congressional Democrats to sending arms and fresh military funding to Israel. The mounting concern has added uncertainty to a pending foreign aid package for Ukraine and Israel that has been stalled in the House for months. It has also fueled calls by Democrats for the administration to stop sending Israel offensive weapons already in the pipeline, some of them for many years. But that dynamic appears to have shifted substantially in recent days, particularly after the killing on Monday night of aid workers for the anti-hunger organization World Central Kitchen. A group of House Democrats is circulating a letter to Mr. Biden and Secretary of State Antony J. Blinken expressing displeasure with their approach to Israel.
Persons: Biden, Mr, Antony J, Organizations: Israel Defense Forces, Republicans, U.S Locations: Gaza, Israel, Ukraine
CNN —House Republicans leading the impeachment inquiry into President Joe Biden were dealt their latest blow this week when the CIA informed them that an allegation they pushed was false, the latest example of House Republicans citing questionable information to make a serious claim. But the CIA has refuted that claim in a letter obtained first by CNN that was sent to Jordan and Comer. House Republicans are pushing back on the refutation. “I’ve made a document production in conjunction with the grand jury investigation,” Morris testified in his closed-door interview with Republicans conducting the inquiry in January. Republicans have raised questions about why Morris lent the president’s son millions of dollars and have sought to connect him to their impeachment inquiry into President Biden.
Persons: Joe Biden, Hunter Biden’s, undercutting, James Comer, Jim Jordan, Hunter Biden, Comer, Congressional Affairs James A, Catella, Russell Dye, Jamie Raskin, ” Raskin, Kevin Morris, Hunter, Morris, “ I’ve, ” Morris, , , Biden, Gary Shapley, CNN’s Paula Reid Organizations: CNN — House Republicans, CIA, Republican, Department of Justice, FBI, IRS, CNN, , Congressional Affairs, Republicans, Democrat Locations: Jordan, Delaware
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. "This report and the February report showed some broadening in terms of job creation, which is a very good sign." Stocks have tumbled this week amid concerns that a strong labor market and resilient economy could keep the central bank on hold for longer than expected. Correction: The unemployment rate edged lower to 3.8%.
Persons: Nonfarm, Dow Jones, Lauren Goodwin, Jerome Powell Organizations: Dow, Labor Department's Bureau of Labor Statistics, Wall, Retail, New York Life Investments, Federal Reserve, Stock
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. During the Club's Morning Meeting, Jim Cramer said he's monitoring the potential impact of the massive earthquake in Taiwan on semiconductor production there. Jim Cramer called Eaton the "most megatrend big cap story there is," citing positives for the company from industrialization and artificial intelligence. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Eaton, Jim, Procter, Estee Lauder, Jim Cramer's Organizations: CNBC, ADP, Treasury, Wall, Barclays, Procter, Gamble, JPMorgan Locations: Taiwan
She began the body of work from which “White Shoes” is drawn during graduate studies at the International Center of Photography (ICP) program at Bard College. Nona Faustine/Courtesy Brooklyn MuseumFor centuries, New York City played a significant role in the enslavement of Black people. By 1730, forty-two percent of White households in the city enslaved Black people — the second-largest percentage of household slave ownership, after Charleston, South Carolina, in the United States. A tiara is balanced on her head, representing Western royalty and the dehumanizing ways White people treated enslaved Black women. Faustine's "White Shoes" exhibition at the Brooklyn Museum opens with her 2012 shot "Venus of Vlacke Bos," (far left).
Persons: Nona Faustine, Faustine, ” Faustine, , Jacob Morris, Baring, , Vlacke Bos, Mason, Dixon, Isabelle, Saartjie, Sarah ” Baartman, it’s, Catherine Morris, Carla Forbes, Morris, I’m, Faustine —, Truth’s Organizations: CNN, Brooklyn Museum, International Center of Photography, Bard College, New York City, , New York City, Harlem Historical Society, Brooklyn —, Brooklyn, Brooklyn Museum’s, Brooklyn Borough Hall Locations: New York City, Brooklyn, York, Manhattan, New York, New Amsterdam, , New York, Harlem, Wall, Lower Manhattan, White, Charleston , South Carolina, United States, Dutch, Flatbush, Lefferts House, Prospect Park , Brooklyn, African, Europe, Chinatown, Bronx, Staten Island
AdvertisementSeven House Republicans have proposed renaming an international airport just outside the nation's capital after former President Donald Trump. Guy Reschenthaler, a Pennsylvania Republican, introduced a bill late last week to rename Washington Dulles International Airport, which was named after former Secretary of State John Foster Dulles. Related stories"As millions of domestic and international travelers fly through the airport, there is no better symbol of freedom, prosperity, and strength than hearing 'Welcome to Trump International Airport' as they land on American soil," Reschenthaler told Fox News. Republicans in Congress and at the state level have repeatedly attempted efforts to buttress Trump's legacy. The other major airport in the DC area, Ronald Reagan Washington National Airport, was renamed after Reagan in 1998.
Persons: Donald Trump, , Donald Trump ., Guy Reschenthaler, John Foster Dulles, Reschenthaler, George Washington, Ronald Reagan, Reagan, Don Beyer, Trump's, Beyer, Dulles, Allen Dulles, Sen, Robert Dole, Dwight D, Eisenhower, Michael Waltz of, Andy Ogles, Charles, Chuck, Fleischmann, Fleischmann of Tennessee, Paul Gosar of, Barry Moore of, Troy Nehls Organizations: Seven, Virginia Democrat, Service, Republicans, Donald Trump . Rep, Pennsylvania Republican, Washington Dulles International Airport, GOP, Fox News, Trump International, Ronald Reagan Washington National Airport, Dulles, The Washington Post, Communist Republican Locations: Virginia, Pennsylvania, Ronald Reagan Washington, Vietnam, Michael Waltz of Florida, Tennessee, Fleischmann of, Paul Gosar of Arizona, Barry Moore of Alabama, Texas
"Since the pandemic, affordability has just totally collapsed," said Chen Zhao, a senior economist at Redfin. February 2021 was the last month when the typical household earned more money than they needed to afford the median home. The U.S. Department of Housing and Urban Development (HUD) sets the standard of affordability at 30% of household income. Affordability deficit narrowed in FebruaryThe average household fell short $29,448 to afford a home in February, according to Redfin. The affordability deficit narrowed because rates have been on a consistent decline since the last peak in October, according to Zhao.
Persons: Chen Zhao, They've, Zhao, It's, Jeff Ostrowski, Veronica Fuentes, Fuentes, Ostrowski, Buyers, Redfin, Louis, What's Organizations: Getty, Redfin, Finance, U.S . Department of Housing, Urban Development, Northwestern Mutual, Cleveland Locations: U.S, Detroit, Pittsburgh, St, Philadelphia, Indianapolis, Warren, Mich, Cincinnati, Milwaukee , Kansas City , Virginia Beach, Va, Antonio, Columbus , Ohio
“Bob Good didn’t come here to govern. Rep. Derrick Van Orden talks with reporters after a meeting of the House Republican Conference in the US Capitol on Tuesday, November 7, 2023. Asked if Good’s vote to oust McCarthy prompted the House GOP effort to defeat him, Georgia Rep. Austin Scott said: “It has something to do with that. Rep. Bob Good speaks with reporters at the US Capitol on January 12, in Washington, DC. Bob Good leads the fighters.”CNN’s Sheden Tesfaldet contributed to this report.
Persons: Bob Good’s, Manu Raju ”, Derrick Van Orden, Bob Good, Kevin McCarthy, Van Orden, propping, John McGuire –, “ Bob Good didn’t, ” Van Orden, “ Bob Good’s, he’s, Matt Gaetz, Andy Biggs of, Chip Roy, Texas, Good, Tom Williams, They’ve, , , Gaetz, McCarthy, Bob, McGuire –, , ” McGuire, Austin Scott, we’ve, McGuire, John McGuire, John C, Clark, Nancy Pelosi, Mike Rogers, Rogers didn’t, Donald Trump, Ron DeSantis, Trump, “ Trump, Trump’s, Mark Meadows, ” Meadows, that’s, Kent Nishimura, Joe Biden, won’t, “ I’m, Ryan Zinke of, Marjorie Taylor Greene, ” “ John McGuire, she’s grandstanding, Chris LaCivita, “ Bob Good won’t, LaCivita, ” LaCivita, doesn’t, “ I’ve, ” Gaetz, Sheden Tesfaldet Organizations: Republican, Virginia CNN —, Caucus, House Republicans, GOP, Wisconsin Republican, CNN, House Republican Conference, “ Conservative, Navy, Democrat, Denver, Georgia Rep, Capitol, , Republicans, Pentagon, House Armed, Good, Florida Gov, DeSantis, Virginians, Conservative Leadership PAC, Trump, Mar, Trump Cabinet, Republican Party Locations: Appomattox, Virginia, tatters, Wisconsin, Florida, Andy Biggs of Arizona, Washington, Virginia –, Georgia, Richmond , Virginia, Congress, Alabama, Trump, Washington , DC, Iowa, Ryan Zinke of Montana, United States
If you're looking for the best place in the U.S. to raise your family, consider moving to Illinois or Pennsylvania. Both states contain several towns that ranked highly on a recent report from Niche assessing the nation's top family-friendly locales. The two states combined were home to seven of the top 10 places to raise a family in America. Other factors taken into account include:Crime ratesHousingEthnic, generational and economic diversityPercentage of households with childrenPercentage of residents age 17 and underChesterbrook, Penn. took the top spot on Niche's list, thanks in part to the Philadelphia suburb's highly-rated public school system.
Organizations: Census, Department of Education, FBI, Philadelphia Locations: U.S, Illinois, Pennsylvania, America, Penn
Domino's Pizza's China operator DPC Dash reported Wednesday its 26th straight quarter of same-store sales growth — including the pandemic period. Pizza push Domino's has a roughly 14% stake in DPC Dash, which listed in Hong Kong about a year ago. Woo has a buy rating on DPC Dash and a price target of 73.05 Hong Kong dollars. "Chinese people do eat pizza," DPC Dash CEO Wang said. Yum China, which owns Pizza Hut in China among other brands, is set to release earnings in late April.
Persons: DPC Dash, they've, Xi Jinping, Papa John's, Papa, DPC, Aileen Wang, Wang, Walter Woo, Woo, McDonald's, That's, Christopher J, Kempczinski Organizations: Starbucks, Apple, HSBC, U.S, DPC, Advertising, Hong, Hong Kong Stock Exchange Locations: China, Shanghai, U.S, DPC, Hong Kong, North America, Beijing, Xi'an, Changsha, FY24E, Thurs
The mere prospect of a future settlement has already caused some Americans to change their behavior when buying and selling their homes. If approved by a judge, the settlement comes with new rules for Realtors. Potential for lower homebuying costsThe new rules could help lower home prices, experts say. Sales commissions, traditionally shared between a buyers’ agent and the agent who lists a home on the market, are usually between 5% and 6% of a home’s selling price. But, for the time being, buyers’ agents will still be able to see that Hanley isn’t offering them compensation, potentially disincentivizing them from showing his home to clients.
Persons: homebuyers, , Debra Dobbs, Jeremy Cannon, Cannon, ” Cannon, , Matt Hanley, ” Hanley, “ I’m, Hanley isn’t, Hanley, “ We’ve, ‘ Let’s, ’ ”, Mariya Letdin, Letdin, ” Letdin Organizations: CNN, National Association of Realtors, Realtors, , NAR, Florida State University Locations: Chicago, Corona , California, Minnesota
Just one week later, it topped the Hot 100, even though some country radio stations initially refused to play it. Many Black artists creating country music have already seen major boosts in streaming numbers. "There are a lot of Black people who love country music, that have been afraid to say that they love country music, even afraid to make country music." Ice breakers: In the six weeks since Beyoncé dropped the two lead singles from "Cowboy Carter," Shaboozey has felt a palpable uptick in attention surrounding Black country artists. Listen to a roundup of key tracks by Black country artists on Business Insider's Spotify.
Persons: Lil Nas, Beyoncé, Carter, It's, she's, Pablo, Don, gatekeepers, Billboard's Kyle Denis, Cowboy Carter, Tanner Adell, Chase Foster, Tanner, Adell, Josh Turner, Shania Twain, Texas, doesn't, Queen Bey, Buckle, Luke Combs, Daniel Prakopcyk, Shaboozey, Collins Chibueze, Southern, Marty Robbins, Woody Guthrie, I've, Kashus Culpepper, Buffalo Kin, Valerie June, Brittany Howard, Breland, Henry Ammann, Nelly, Tim McGraw, Daniel Gerard Breland, Nashville darlings, Thomas Rhett, Keith Urban, Blanco Brown, Blanco, Brown, Tim McGraw's, he's, He's, Tiera Kennedy, Alexa Campbell, Tiera, Kennedy, Dolly Parton, Johnny Cash, who've Organizations: Chicks, Business, Dallas Cowboys, Buffalo, BI, Nashville, LaFace Records, Buffalo Wild Wings, Spotify Locations: Texas, Houston, Nashville, Kentucky, California, Wyoming, Church, Star Valley , Wyoming, Plano, Beverly, Virginia, America, New Jersey, Atlanta, Butler , Georgia, Alabama
The wealth of the 1% just hit a record $44 trillion
  + stars: | 2024-03-28 | by ( Robert Frank | ) www.cnbc.com   time to read: +4 min
Middle-class Americans have also seen a rising wealth tide, with the middle 50% to 90% of Americans seeing their wealth increase 50%. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter. The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve. Economists say the rising stock market is giving an added boost to consumer spending through what is known as the "wealth effect." "Of course, this highlights a vulnerability of the economy if the stock market were to falter.
Persons: Robert Frank, Mark Zandi, Zandi, Liz Ann Sonders, Charles Schwab, – Sonders Organizations: Federal Reserve, Moody's, Stocks, Conference Board Locations: U.S
In 1970, more than two-thirds of American adults between 25 and 49 lived with a spouse and at least one kid. For a society structured around the ideal of the nuclear family, its demise has left everyone wondering: What happens now? Without one partner focused on full-time housekeeping, the amount of work required to run a nuclear family isn't really feasible. It doesn't take much of a mental leap to see why capitalism and the nuclear family make for such cozy bedfellows. Coontz, a leading historian of the American family, notes that every family structure comes with its own set of distinct weaknesses, strengths, and possibilities.
Persons: Elon Musk, Vivek Ramaswamy, O'Brien, David Brooks, Moira Weigel, Brooks, Charles E, " O'Brien, Stephanie Coontz, Kristen Ghodsee, Ghodsee, coparenting, Mark Boster, Coontz, Organizations: Pew Research, Elon, Labor, Getty, University of Pennsylvania, Brookings Institution, Pew, Los Angeles Times, Guardian Locations: The, California, Somerville , Massachusetts
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