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☆ NEC Director Lael Brainard: Slowing inflation proves economy is on a very stable trajectory
▼ + stars: | 2024-10-31 | 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: Slowing inflation proves economy is on a very stable trajectoryLael Brainard, National Economic Council director, joins CNBC's 'Money Movers' to discuss slowing inflation, the economy, the job market, and more.

Persons: Lael Brainard Organizations: NEC, National Economic Council

☆ Americans’ economic mood is perking up ahead of the election, survey finds
▼ + stars: | 2024-10-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

The Conference Board’s latest consumer survey showed that Americans this month became more optimistic about the future of both the labor market and the broader US economy. The monthly survey’s Consumer Confidence Index jumped in October by the fastest clip since March 2021. In September, jitters over the job market’s health weighed on consumer confidence, but economic data after that showed that the job market remains solid. “Views on the current availability of jobs rebounded after several months of weakness, potentially reflecting better labor market data,” Peterson said. Data for September pointed to a robust job market, which translated into better consumer confidence.

Persons: “, ” Dana Peterson, jitters, ” Peterson, Kamala Harris, ”, Lael Brainard, Robert Frick, August’s Organizations: Washington CNN, Conference Board’s, White House, Navy Federal Credit Union

WASHINGTON — A dockworkers strike threatens to harm shipping, manufacturing, pre-holiday retail inventories — and Vice President Kamala Harris' bid for the presidency. They have been at an impasse with the United States Maritime Alliance, or USMX, which represents shipping and port operations companies. As polls show Harris trailing Trump on the question of who is best suited to handle the economy, the work stoppage puts Democrats in a bind. Harold Daggett, center, with picketing workers outside of the APM container terminal at the Port of Newark in New Jersey, on Tuesday. "President Trump promised to support the ILA in its opposition to automated terminals in the U.S.," Daggett said in the statement.

Persons: WASHINGTON, Kamala Harris, Harris, Tim Walz, Donald Trump's, Sen, JD Vance, Ohio, —, Joe Biden, Pete Buttigieg, Julie Su, Lael Brainard, Trump, Harold Daggett, ” Daggett, Biden, Taft, Hartley, They've, Daggett, Joe Biden’s, “, Michael Nagle, ” Trump, Tim Ryan, Vance, didn't, ” Organizations: Longshoreman's Association, Minnesota Gov, United States Maritime Alliance, Trump, ILA, AFL, Teamsters, Fox News, Democratic, USMX, APM, Port, Bloomberg, Getty, Democratic Party, Federal, Senate Locations: Gulf of Mexico, New York, Washington, Taft, U.S, Delaware, Palm Beach , Florida, Queens, Newark, New Jersey, Trump's

White House officials on Friday met with representatives from the consortium, the US Maritime Corporation, to encourage the association to stay at the negotiating table. President Joe Biden has sent a clear message that he has no plans to do the latter. Without taking that move, there’s not much else the White House can do. “The administration is using its bully pulpit, and has been for a while,” says John Porcari, who served as the White House supply chain czar under Biden. “In political terms, there’s no good time for a strike,” the former official said.

Persons: dockworkers, Biden, Taft, Hartley, Joe Biden, “, ” Biden, Kamala Harris, there’s, ”, John Porcari, George W, Bush, Liz Shuler, Jeff Zients, Lael Brainard, USMX, Harold Daggett, Labor Julie Su, ” Daggett, Donald Trump, Harris, –, Ford, Ohio Sen, JD Vance, Tim Walz, Trump Organizations: CNN, International Longshoremen’s Association, US Maritime Corporation, White House, ”, White, Republicans, House Transportation, Labor, ” AFL, GOP, National Economic, International Longshoreman’s Association, Republican, Biden administration’s, Biden, Anderson Economic Group, Boeing, United Auto Workers, Minnesota Gov Locations: East, Gulf, Taft, West Coast, Michigan, Dearborn, Ohio, Minnesota

☆ Clock ticks down towards a port strike with little hope it will be avoided
▼ + stars: | 2024-09-30 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

The maritime alliance represents the major shipping lines, all of which are foreign owned, as well as terminal operators and port authorities. Depending on the length of the strike, there could be shortages of consumer and industrial goods, which could then lead to price hikes. What could be in short supplyThe ports involved include the Port of New York and New Jersey, the nation’s third-largest port by volume of cargo handled. Port Wilmington in Delaware describes itself as the nation’s leading banana port, bringing in a large share of America’s favorite fruit. The union has pledged to continue to handling military cargo even during a strike and said passenger ships won’t be affected.

Persons: “, ” Harold Daggett, containerization, John McCown, Biden, ”, Joe Biden, Taft, Hartley, George W, Bush, Julie Su, Peter Buttigieg, Lael Brainard, ” Biden, ” CNN’s Arlette Saenz Organizations: New, New York CNN, Gulf Coasts, International Longshoremen’s Association, ILA, United States Maritime Alliance, American Farm Bureau, “, Business, Labor, National Economic Council, CNN, Union, Labor Department Locations: New York, Gulf, Maine, Texas, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, West Coast, Taft

☆ With ports strike imminent on East Coast, Gulf, truckers, rails are scrambling to move billions in cargo before midnight shutdown
▼ + stars: | 2024-09-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

As much as 43% to 49% of total containerized goods entering the U.S are processed through ports on the East Coast and Gulf Coast. Michael Kanko, CEO of ImportGenius, tells CNBC the economic importance of the ports impacted by an ILA strike is profound. Approximately 50,000 ILA union members work at the ports of Boston, New York/New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa, Miami, New Orleans, Mobile, and Houston. UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. East Coast ports in the U.S. are forecast to handle 2.3 million TEU (twenty-foot equivalent units) in October.

Persons: Gary Hershorn, Lading, Alan Baer, Baer, Michael Kanko, Brian Bourke, Pete Buttigieg, Julie Su, Lael Brainard, Biden, We've, Taft, Hartley, Donald Trump, Harold Daggett, let's, Estee Lauder, Steve Lamar Organizations: Port, Port Newark Container, Corbis, CNBC, International Longshoremen's Association, US Maritime Alliance, USA, ILA, U.S ., Seko Logistics, Gulf, Transportation, National Economic, UBS, Maersk, Democrats, Hartley, Business, The U.S . Chamber of Commerce, Biden, ., L'oreal, ABB, Walmart, Walgreens, Disney, Port Authority of, American Apparel & Footwear Association Locations: Port Newark, New York City, Newark , New Jersey, Coast, U.S, ImportGenius, East Coast, Gulf Coast, U.S . East Coast, Maine, Texas, Boston , New York, New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, The, Port of New York, Port Authority of NY, Virginia, Mitre . East Coast, Port of Virginia

☆ Watch: Biden delivers remarks at the Economic Club of Washington, D.C.
▼ + stars: | 2024-09-19 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 1:15 p.m. Please refresh the page if you do not see a player above at that time.] President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates. The president's remarks come the day after the Federal Reserve announced its decision to cut interest rates by a surprisingly aggressive 50 basis points. "The declines in inflation and interest rates are welcome, but no one's declaring victory," National Economic Council Director Lael Brainard told reporters ahead of Biden's remarks.

Persons: Joe Biden, Lael Brainard, Biden's Organizations: Economic, of Washington, of Washington , D.C, Federal Reserve Locations: of Washington ,

New York officials released Monday forensic sketches and informational flyers about a possible new victim in the Gilgo Beach serial killings case, in an effort to identify them and get new leads in the roughly 20-year-old homicide. The remains of the victim, referred to as “Asian Doe,” were found in 2011 near the bodies of at least 10 others near Long Island, New York’s Gilgo Beach. Long Island architect Rex Heuermann, 61, was arrested last year in connection with the Gilgo Beach serial killings. Heuermann was initially charged with killing three women — Megan Waterman, Amber Costello and Melissa Barthelemy — and dumping their bodies near Gilgo Beach. Authorities previously disclosed that “Asian Doe” was wearing women’s clothing, but did not provide further details.

Persons: ”, Ray Tierney, Doe, 5’3 ”, Tierney, ” Tierney, “, Rex Heuermann, Heuermann, Megan Waterman, Amber Costello, Melissa Barthelemy —, — Maureen Brainard, Barnes, Jessica Taylor, Sandra Costilla —, Megan Waterman’s, “ We’re, Bill Blass, Shannan Gilbert Organizations: Attorney’s Office, Authorities, New York City Police Department, NBC Locations: York, Long Island, Suffolk County, Southern China, Gilgo Beach, Gilgo, Oak Beach

☆ Gilgo Beach killings: Prosecutors to provide new information about “Asian Doe” victim in serial killings case
▼ + stars: | 2024-09-16 | by ( Lauren Mascarenhas | ) edition.cnn.com time to read: +3 min

CNN —Prosecutors are expected to provide new information Monday about a victim referred to as “Asian Doe” in the investigation into Gilgo Beach serial killings suspect Rex Heuermann. Suffolk County District Attorney Ray Tierney said his office will present the development at a news conference after a court proceeding in Heuermann’s case. The arrest came after years of searching for the person responsible for a string of unsolved killings targeting women. At least 11 sets of human remains have been found on Long Island’s Suffolk County, including those belonging to women Heuermann is accused of killing. “This was a planning document used by Heuermann to methodically blueprint and plan out his kills with excruciating detail.

Persons: Rex Heuermann, Ray Tierney, Heuermann, Michael Brown, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Jessica Taylor, Sandra Costilla, Barthelemy, Waterman, Costello, Brainard, Taylor, Costilla, Raymond Tierney, “, CNN’s John Miller, Mark Morales, Brynn Gingras Organizations: CNN — Prosecutors, Gilgo Locations: Rex Heuermann . Suffolk County, New York, Long, Long Island’s Suffolk County, Suffolk County

☆ Mr ChatGPT and other AI power players are going to the White House to discuss AI’s massive thirst for energy
▼ + stars: | 2024-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The meeting, which hasn’t been previously reported, is the first time senior White House officials will sit down with tech company leadership to discuss how to quench AI’s insatiable thirst for energy. The source said the White House expects to detail how the public and private sector can work together to maintain US leadership in AI in a sustainable way. AI is expected to spark a 160% surge in power demand from data centers by 2030, according to Goldman Sachs. Exowatt just launched a new system that can generate and store clean energy to AI data centers. Other US officials expected to attend Thursday’s AI power meeting include White House Chief of Staff Jeff Zients, National Economic Adviser Lael Brainard, National Security Adviser Jake Sullivan and top climate officials Ali Zaidi and John Podesta.

Persons: Sam Altman, Ruth Porat, Dario Amodei, hasn’t, Jennifer Granholm, Gina Raimondo, Harris, Joe Biden, Kamala Harris, Biden, Goldman Sachs, Altman, ”, ” Altman, “, Robyn Patterson, Jeff Zients, Lael Brainard, Jake Sullivan, Ali Zaidi, John Podesta, Oprah Winfrey, Bill Gates Organizations: CNN, White, Google, White House, Wall, . Energy, Biden, Microsoft, International Energy Agency, Washington Post, United, “, National Economic, National, ABC Locations: America, Washington, United States, Exowatt

☆ CPI shows 'we're turning the page on inflation,' says NEC's Lael Brainard
▼ + stars: | 2024-09-11 | 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 EmailCPI shows 'we're turning the page on inflation,' says NEC's Lael BrainardLaell Brainard, National Economic Council director, joins CNBC's 'Squawk on the Street' to discuss if she's worried about the increase in key inflation measures, her reaction to Jamie Dimon's warning about government spending keeping prices elevated, and more.

Persons: NEC's Lael Brainard Laell Brainard, she's, Jamie Dimon's Organizations: CPI, National Economic Council

Vice President Kamala Harris on Saturday pledged to eliminate taxes on tipped wages for service workers, matching a proposal from former President Donald Trump. “When I am president, we will continue our fight for working families of America, including to raise the minimum wage, and eliminate taxes on tips for service and hospitality workers,” Harris said. Harris would push the proposal with an increase in the minimum wage as well, the official said. “Kamala Harris, whose ‘Honeymoon’ period is ENDING, and is starting to get hammered in the Polls, just copied my NO TAXES ON TIPS Policy,” he wrote. “She can only steal from me.”Trump announced a policy proposal to eliminate taxes on tips during a June rally in Las Vegas.

Persons: Kamala Harris, Donald Trump, Tim Walz, Harris, ” Harris, Harris ’, Trump, “ Kamala Harris, ”, TRUMP, ” Trump, Karoline Leavitt, Sen, Ted Cruz, Lael Brainard, Brainard, Joe Biden, “ Organizations: Minnesota Gov, Culinary Workers Union, Las, NBC News, Yale University, Republican, Biden White, West Wing Locations: Las Vegas, America, Texas, Nevada

☆ Biden administration proposes new rule banning airlines from charging parents extra fees to have their kids seated next to them
▼ + stars: | 2024-08-01 | by ( Pete Muntean | Samantha Waldenberg | ) edition.cnn.com time to read: +3 min

CNN —Airlines would no longer be allowed to charge parents extra fees for their kids to be seated next to them under a new rule proposed by the Biden administration. White House officials say their “fee-free family seating” proposal could potentially save parents up to $200 per round trip flight. Today’s ban on family seating fees could save a family of four as much as $200 per round trip. “We’ll cap service fees on tickets to concerts and sporting events and make companies disclose all fees upfront. And we’ll prohibit airlines from charging up to $50 roundtrip for families just to sit together,” Biden said in 2023.

Persons: Biden, Pete Buttigieg, Buttigieg, Lael Brainard, “, Joe Biden, Kamala Harris, Kevin McCarthy, Andrew Caballero, Reynolds, ” Biden Organizations: CNN — Airlines, White, National Economic, Chamber, U.S, Capitol, Getty, “, Frontier, JetBlue, Department of Transportation’s, Airlines, America Locations: Washington ,, AFP, Alaska, American

☆ Biden announces plan to cap rent increases at 5% for half of American rental households
▼ + stars: | 2024-07-16 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +5 min

Read previewPresident Joe Biden on Tuesday rolled out a plan offering landlords a choice: cap annual rent increases at 5% for the next two years or risk losing valuable tax credits. These landlords control more than half the national rental market, according to senior White House officials. Corporate landlords who increase rent by more than 5% would lose the valuable tax benefit known as depreciation deductions. AdvertisementA focus on housing affordabilityAs president, Biden has pushed a series of pro-housing policies and generally favored more federal participation in housing policy. Tuesday's move is part of a series of recent housing policy announcements from the administration.

Persons: —, Joe Biden, Lael Brainard, Biden, Donald Trump, alledgedly colluding, Kamala Harris, Janet Yellen Organizations: Service, White House, Business, Harvard Joint Center for Housing Studies, Harvard, Tax, Republicans, Union Locations: Nevada, Clark County, Henderson , Nevada, State

☆ NEC Director Lael Brainard: Consumer brand companies really need to lower their prices
▼ + stars: | 2024-07-11 | 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: Consumer brand companies really need to lower their pricesLael Brainard, National Economic Council Director, joins 'Squawk on the Street' to discuss her thoughts on Thursday's inflation report, consumers who are still stretched, and much more.

Persons: Lael Brainard Organizations: NEC, Consumer, National Economic

☆ Biden Announces Tariffs on Chinese Metals Routed Through Mexico
▼ + stars: | 2024-07-10 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

The Biden administration took steps on Wednesday to prevent China from circumventing American tariffs on Chinese steel and aluminum by routing those imports through Mexico. The administration said it would impose tariffs on imports of Mexican metals that are partially made in China. American officials said the move would close a trade loophole that has allowed cheap, state-subsidized Chinese metals to circumvent existing U.S. tariffs. The United States will now impose a 25 percent tariff on Mexican steel that is melted or poured outside of North America before being turned into a finished product. Previously, that steel would have entered the country duty free.

Persons: Biden, Lael Brainard Organizations: White, Economic Council Locations: China, Mexico, United States, North America, Mexican, Belarus, Iran, Russia

☆ Biden Cabinet officials roll out new plans to cut costs of living ahead of Trump debate
▼ + stars: | 2024-06-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden delivers remarks alongside Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo during a Cabinet Meeting at the White House on June 06, 2023 in Washington, DC. President Joe Biden's Cabinet will wrap up a barnstorming tour Thursday after two weeks on the road, touting the administration's economic accomplishments ahead of the Democratic incumbent's first debate against former President Donald Trump. In the 10 days leading up to Thursday's debate, the White House organized 29 public events, featuring more than a dozen top administration officials to promote Biden's economic agenda, a White House official said in a memo announcing the blitz. Not anymore," Neera Tanden, White House domestic policy advisor, said in the release. "Thanks to President Biden's economic plan, the American economy is strong and resilient, with robust economic growth in recent quarters," she said in a speech Monday.

Persons: Joe Biden, Janet Yellen, Gina Raimondo, Joe Biden's, Donald Trump, Lael Brainard, Pete Buttigieg, Neera Tanden, Yellen, Biden's Organizations: White House, Democratic, White, National Economic, Transportation, Seniors Locations: Washington , DC, Georgia , Nevada , Pennsylvania, Michigan, White, Minnesota, American

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ Biden economic advisor unveils 'key principles' for tax policy plan ahead of expiring Trump tax cuts
▼ + stars: | 2024-06-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Director of the National Economic Council Lael Brainard speaks at the White House in Washington, D.C., on Jan. 11, 2024. President Joe Biden's top economic advisor on Thursday unveiled plans to address trillions of dollars in expiring tax breaks enacted by former President Donald Trump. Some expiring individual provisions include lower federal income tax brackets, a higher standard deduction, a more generous child tax credit and doubled estate and gift tax exemption, among others. Expiring TCJA provisions could affect all Americans, but Brainard reaffirmed Biden's pledge to extend tax breaks only for those making less than $400,000. By comparison, former President Donald Trump has said he plans to extend all expiring TCJA provisions.

Persons: Lael Brainard, Joe Biden's, Donald Trump, Biden, Brainard, Biden's Organizations: National Economic, White, Washington , D.C, Tax, Finance, Fed Locations: Washington ,

☆ Rex Heuermann: Inside the document prosecutors say the accused Gilgo Beach serial killer used to ‘plan out his kills’
▼ + stars: | 2024-06-09 | by ( Ramon Sanchez | Ray Sanchez | ) edition.cnn.com time to read: +9 min

Details of the content of the document come from the latest bail application from prosecutors. DNA evidence initially linked him to a hair found on the burlap sack where Waterman’s remains were found. The 60-year-old architect was surprised by the latest charges, Heuermann attorney Michael Brown said after the defendant appeared in an eastern Long Island courtroom. The bail application said a tattoo on Taylor’s torso had been mutilated with a sharp object. It recommended the use of heavier rope since lighter types “broke under the stress of being tightend,” the bail application said.

Persons: Rex Heuermann, “, ” criminologist, Scott Bonn, Heuermann, Jessica Taylor, Sandra Costilla, “ I’ve, Raymond Tierney, ”, Casey Jordan, ” “, ” ‘, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes –, ” Heuermann, ” Tierney, Taylor, Costilla’s, Michael Brown, Brown, ” Brown, Tierney, ” Jordan, “ Heuermann, Dennis Rader, Rader, “ We’re, We’re, Said Jordan, ” CNN’s Mark Morales, Brynn Gingras, Carolyn Sung, Samantha Beech Organizations: CNN, Long, Heuermann, Force, ”, Cub Scout Locations: New York, ” Suffolk County, Bonn, Manhattan, Long, ” Bonn, Suffolk County

☆ Biden vs. Trump: Here's what the next president means for your taxes
▼ + stars: | 2024-06-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Howard Gleckman Senior fellow at the Urban-Brookings Tax Policy CenterOf course, future legislative updates, if any, will depend on which party controls Congress. More generous child tax creditAnother expiring TCJA provision is the bigger child tax credit, which some lawmakers have fought to expand in 2024. The TCJA doubled the maximum child tax credit to $2,000, boosted the refundable portion to $1,400 and expanded eligibility. Biden has called for an expansion, but there have been debates in Congress over the child tax credit design, including the amount, eligibility and refundability, said Gleckman. Fully extending the TCJA tax breaks could add an estimated $4.6 trillion to the deficit over the next decade, according to the Congressional Budget Office.

Persons: Joe Biden, Donald Trump, Chip Somodevilla, Alex Wong, Howard Gleckman, Garrett Watson, Biden, Trump, Gleckman, Watson, Lael Brainard Organizations: Urban, Brookings Tax, Tax, Center, Congressional Locations: Lower, China

☆ Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at the pump ahead of the Fourth of July holiday and summer driving season. Rising energy prices stirred speculation in April that the Biden administration might tap the Strategic Petroleum Reserve in Texas and Louisiana ahead of the November presidential election. Though gasoline prices have come down over the past month, broader inflation has remained stubborn, irking consumers. The barrels will be sold from storage sites in New Jersey and Maine that are part of the Northeast Gasoline Supply Reserve, which was established after Superstorm Sandy knocked out refineries in 2012. The Biden administration released 180 million barrels from the SPR in 2022 as energy prices spiked in the wake of Russia's invasion of Ukraine.

Persons: Joe Biden, Biden, Jennifer Granholm, Lael Brainard, Superstorm Sandy Organizations: Eisenhower, Strategic Petroleum Reserve, White, National Economic, AAA, Retailers, Department of Energy, DOE, Northeast Gasoline Supply, Superstorm Locations: Washington ,, Israel, Texas, Louisiana, Iran, New Jersey, Maine, Ukraine

☆ Blue-collar jobs are booming. White-collar jobs, not so much.
▼ + stars: | 2024-05-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +14 min

Now, she told me, blue-collar work is an oasis in the fake-email-job desert, with a newfound social cachet. In a survey conducted in late 2021, 67% of blue-collar workers said they believed the pandemic changed how people viewed their jobs, and 75% of white-collar workers agreed. AdvertisementNow, the economy is adding blue-collar jobs at a rapid clip. There is a tendency — particularly among white-collar workers — to look at blue-collar work through rose-colored glasses, to romanticize the hard work and skills it requires. The labor market hasn't completely reversed course; blue-collar jobs may be booming, but a bachelor's degree is still often a prerequisite for roles with high pay and numerous benefits.

Persons: Alyssa DeOliveira, didn't, DeOliveira, Chris Collins, Collins, Steven Kurutz, influencers, Eames, Bernie Sanders, Elise Gould, she's, it's, moratoriums —, Gould, Frankie Giambrone, Giambrone, Biden, Lael Brainard, Scott Gove, Michael Kaye, Gove, there's, he's, Sam Pillar, Jeff Goldalian Organizations: Walmart, UPS, Business, The New York Times, Economic, Bureau of Labor Statistics, National Economic Council, Teamsters Union, United Auto Workers, Teamsters Locations: Boston, Tennessee, New York City

☆ Biden to increase tariffs on $18 billion in Chinese imports in a new warning to Beijing
▼ + stars: | 2024-05-14 | by ( Kayla Tausche | ) edition.cnn.com time to read: +5 min

Washington CNN —President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete.

Persons: Joe Biden, “, ”, Lael Brainard, “ China’s, Donald Trump, Biden, Wang Wenbin, Trump, Janet Yellen, Antony Blinken, “ They’re, ” Biden, Sam Fossum Organizations: Washington CNN, White, National Economic Council, CNN, Biden, Trade Organization, Brookings Institute, United Steelworkers, Trump, China’s Ministry, Commerce Locations: China, Beijing, Europe, Brazil, Turkey, Pittsburgh, Midwest

☆ Biden Looks to Raise Tax Revenue When Trump Cuts Expire Next Year
▼ + stars: | 2024-05-10 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

President Biden’s top economic adviser said on Friday that lawmakers should take advantage of a looming tax debate next year to try to reduce budget deficits by sharply raising taxes on corporations and the rich. Under that plan, Mr. Biden would more than offset the cost of maintaining tax cuts for people earning $400,000 a year or less. A batch of tax cuts signed into law in 2017 by former President Donald J. Trump, who is facing Mr. Biden in a rematch this fall, is set to expire at the end of next year. It includes cuts for individuals at all income levels. Republicans built that expiration into the tax bill to reduce its projected cost to deficits and comply with congressional rules.

Persons: Biden’s, Biden, Lael Brainard, Donald J, Trump Organizations: Hamilton Project, Brookings Institution, White, National Economic Council, Republicans Locations: Washington

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