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☆ ‘It’s on him’: Democrats look to Hakeem Jeffries to plot a path to revival
▼ + stars: | 2024-11-19 | by ( Sarah Ferris | Annie Grayer | ) edition.cnn.com time to read: +9 min

In the last Congress, Democrats repeatedly helped Republicans keep the government open and propped up Speaker Mike Johnson when he faced a challenge to his leadership post. He even tapped other senior House Democrats to echo his message to the Biden team, according to another person familiar with the efforts. Still, unlike some in his party, Jeffries is not in despair, according to multiple people familiar with his thinking. But Democrats say Jeffries — alongside Senate Majority Leader Chuck Schumer, who will serve as minority leader in the next Congress — might be the best person to at least try. Internal party sparringOne of Jeffries’ toughest tasks will be keeping Democrats unified on immigration despite the many intraparty divisions.

Persons: Hakeem Jeffries, Jeffries —, Donald Trump, Jeffries, “, ’, Emanuel Cleaver, he’s, ” Jeffries, Mike Johnson, Trump, Rosa DeLauro, Harris, who’ve, Joe Biden, Kamala Harris, overperformed Harris, —, Chuck Schumer, ”, Gregory Meeks, Pramila Jayapal, Jim McGovern, Johnny Cash’s, McGovern, Chip Somodevilla, That’s, That’s James Madison’s, Jeffries didn’t, I’m, Henry Cuellar, ” Cuellar, Cuellar, Gabe Vasquez, Susie Lee of, Scott Peters, Scott Peters of California —, Anna Padilla, Democrats ’, CNN’s Ali, Haley Talbot Organizations: CNN, Democratic Party, House Democratic, Congressional Hispanic Caucus, Progressives, GOP, Capitol, Republicans, Biden, White, Democrats, Democratic, New York Democrat, Progressive, Getty, House Democratic Caucus, Congressional Hispanic, Scott Peters of, Bloomberg Locations: Washington, Yorker, Back, New York, —, Washington ,, New Mexico, Susie Lee of Nevada, Scott Peters of California, Albuquerque , New Mexico

☆ Trump promised massive tariffs on imports but how he’ll pull it off is still being figured out
▼ + stars: | 2024-11-08 | by ( Kayla Tausche | ) edition.cnn.com time to read: +6 min

Washington CNN —Just days after winning a comeback election, President-elect Donald Trump is evaluating how his campaign promises might translate into policy. As a candidate, Trump pledged to slap 60% tariffs on all goods coming in from China and 10% tariffs on goods imported from all other countries. “The way that President Trump looks at tariffs are not in isolation. Trump’s economic advisers – and the president himself – view the forthcoming tariff revenue as a way to offset that cost. “If he can use the tariffs as a means to an end, he’ll do that.”CNN’s Katie Lobosco contributed to this report.

Persons: Washington CNN —, Donald Trump, ”, Trump, Kelly Ann Shaw, Hogan Lovells, –, ” Trump, Larry Kudlow, it’s, ” “, Karoline Leavitt, Vance, Jake Colvin, ” Colvin, “ That’s, Robert Lighthizer, Elon Musk, “, he’s, Katie Lobosco Organizations: Washington CNN, CNN, Trump, Republicans, Jobs, Tax, Center, Social Security, Advisers, “, National Foreign Trade Council, European Union, EU, EV Locations: China, Trump’s, America, Canada, There’s, Tesla

☆ The most haunted home in every US state
▼ + stars: | 2024-10-16 | by ( Priyanka Rajput | ) www.businessinsider.com time to read: +2 min

Business Insider identified haunted homes in every US state via various paranormal sighting reports. The haunted homes industry in the US reportedly checks in at least $300 million annually. In America, haunted homes are not only a staple of the spooky season; they can be highly lucrative and raise a town's profile as a tourist destination. To find the most haunted home in every state, Business Insider considered properties that are known locally for their spooky occurrences or ghost sightings, or ones with horrifying backstories. From abandoned mansions to historic hotels, here's where the spookiest haunted home is hiding in every US state.

Persons: —, Lucy Yang Organizations: Service, Ohio State Reformatory, Mansfield Reformatory Preservation Society, Business Locations: America, Mansfield, here's

☆ Russia's economy faces an 'unsolvable trilemma' but can survive for several more years, think tank expert says
▼ + stars: | 2024-10-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russia faces mounting economic issues that could prove "unsolvable," a think tank expert says. This will exacerbate economic imbalances at home, Alexandra Prokopenko wrote in the FT.Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "Instead of hoping that Russia's economic combat power will soon be exhausted, the West must focus on a long-term strategy that will further constrain Putin's war machine and boost Ukraine's own economic resilience." In boosting spending to such heights, Russian President Vladimir Putin is effectively dismissing brewing economic imbalances as other parts of the budget become squeezed. By pouring more money into defense, the Kremlin is exacerbating existing economic imbalances," Prokopenko wrote, adding: "Putin faces an unsolvable trilemma of simultaneously maintaining a balanced financial system, meeting social obligations and sustaining defense spending at current levels."

Persons: Alexandra Prokopenko, —, Prokopenko, Prokopeko, Vladimir Putin, Putin, bode Organizations: Service, Carnegie Russia Eurasia Center, Financial Times, Defense, Putin, Kremlin Locations: Russia, Europe, Ukraine, Soviet, Moscow, stagflation

☆ Tunisia heads to the polls with a fading reputation as the Arab Spring’s only success story
▼ + stars: | 2024-10-06 | by ( Associated Press | ) edition.cnn.com time to read: +9 min

Not long ago, Tunisia was hailed as the Arab Spring’s only success story. He advanced to a runoff promising to usher in a “New Tunisia” and hand more power to young people and local governments. Seventeen potential candidates filed paperwork to run and Tunisia’s election authority approved only three: Saied, Zouhair Maghzaoui and Ayachi Zammel. That includes the 83-year-old leader of Tunisia’s most well organized political party Ennahda, which rose to power after the Arab Spring. People stand in line outside a polling station during the presidential election in the capital Tunis, Tunisia, on October 6, 2024.

Persons: Press — Tunisians, Kais Saied, El, Ben Ali —, Zouhair Maghzaoui, Saied, Saied’s, Zouhair, Ayachi, Jihed Abidellaoui, Rached Ghannouchi, party’s, Abir, Ennahda —, Tunisians, Zoubeir Souissi, Yassine Mahjoub, who’ve, Tunisia won’t Organizations: Press, Abid, Authorities, Reuters, Free Destourian Party, World Bank, European Union, Today, International Monetary Fund, Reuters Economic, Tunisia's, Independent Authority, Elections, Getty, Initiative, Saied Locations: TUNIS, Tunisia, Egypt, Libya, Yemen, Tunis, Europe, Saharan Africa, Africa, AFP, ”, Iran, Russia, Saied, Israel

☆ 'Goldilocks' September jobs report will need to see U.S. unemployment hold, economist says
▼ + stars: | 2024-10-04 | 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 Email'Goldilocks' September jobs report will need to see U.S. unemployment hold, economist saysJohn Silvia, CEO and founder at Dynamic Economic Strategy and former chief economist at Wells Fargo, discusses the September U.S. jobs report and what a "Goldilocks" or soft landing scenario looks like.

Persons: John Silvia Locations: Wells

☆ Japan's new Prime Minister Ishiba unveils cabinet ahead of snap election
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: +3 min

TOKYO, JAPAN - SEPTEMBER 06: Japanese former Defense Minister Shigeru Ishiba speaks during a press conference at the Foreign Correspondents' Club of Japan on September 06, 2024 in Tokyo, Japan. Ishiba and former Environment Minister Shinjiro Koizumi are the front runners in the race of the upcoming presidential election for the ruling Liberal Democratic party of Japan (LDP) according to recent polling. (Photo by Tomohiro Ohsumi/Getty Images)Japan's new Prime Minister Shigeru Ishiba on Tuesday unveiled his cabinet as he seeks to heal party divisions and secure a national mandate with an Oct. 27 snap election. The 67-year-old former defence minister, who last week won a close-fought contest to lead the ruling Liberal Democratic Party (LDP), was confirmed earlier in the day as prime minister by parliament. Yoji Muto, a former junior minister, will take charge at the economy, trade and industry ministry.

Persons: Shigeru Ishiba, Ishiba, Shinjiro Koizumi, Tomohiro Ohsumi, Katsunobu Kato, Yoshimasa Hayashi, Kato, Sanae, Takeshi Iwaya, Gen Nakatani, Yoji Organizations: Defense, Foreign, Club of Japan, Liberal Democratic, Liberal Democratic Party, Washington, NATO, Nikkei Locations: TOKYO, JAPAN, Tokyo, Japan, United States, China, Beijing, U.S, East Asia, North Korea, Russian

☆ America is facing a nightmare scenario with a looming strike and wrecked infrastructure after Hurricane Helene
▼ + stars: | 2024-09-30 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

A port strike and the effects of Hurricane Helene could slow the US's transport of goods. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . JPMorgan analysts have estimated that the costs of shutdowns related to the strike could reach $5 billion a day. "The timing of the strike is especially concerning, as the US economy has seen progress in lowering inflation," Mousavian said. Meantime, Angela Blanchard, Houston's chief recovery and resilience officer, argued on X that the response to and recovery from the hurricane would be "significantly impeded" by a strike.

Persons: Hurricane, —, Hurricane Helene, Jon Davis, Amir Mousavian, Mousavian, Jason Greer, haven't, We're, Greer, Angela Blanchard, Houston's, Blanchard Organizations: Service, Longshoremen's Association, JPMorgan, Federal Reserve, University of New England's College of Business, Shipping, Greer Consulting, National Labor Relations Board Locations: Hurricane, Asheville , North Carolina, East Coast, Gulf, Florida , Georgia, North Carolina, West

☆ American Companies' China Profits Are Declining; Increased War Chance
▼ + stars: | 2024-09-22 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Without the promise of profits, American firms are also becoming less willing to go to bat for China — to reinforce the idea that China's market is crucial to the success of their futures. No demandAfter pandemic lockdowns ended in 2023, the Chinese economy experienced what is known on Wall Street as a "dead cat bounce." What money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. Related storiesWhat money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. It gives corporations, already under financial pressure as China's economy declines, even less reason to act as interlocutors encouraging stability between Washington and Beijing.

Persons: Washington —, Xi Jinping, Lee Miller, lockdowns, They're, Xi, Yi Gang, Michael Pettis, Tesla, Elon Musk, it's, Ball, Jamie Dimon, It's, China's, Goldman Sachs, Ray Dalio, seeping, Miller, Kamala Harris, Donald Trump, Harris, —, Trump, Biden, we're, Cordell Hull Organizations: Apple, Nike, Chinese Communist Party, People's Bank of, Carnegie Endowment, China Business Council, Starbucks, Street, Bridgewater Associates, Beijing, East Asia State Department, CCP, Trump, State Department, Republicans, Financial, Broadcom, Nvidia, Biden Administration Locations: China, America, Beijing, Washington, American, South China, Taiwan, People's Bank of China, Shanghai

☆ What the top 2024 election issues are for these young voters
▼ + stars: | 2024-09-22 | by ( Elise Hammond | Shania Shelton | ) edition.cnn.com time to read: +19 min

Along with the economy, young voters also name abortion, immigration, foreign policy, climate and gun control as other priorities. A recent GenForward survey conducted by the University of Chicago supports what dozens of young voters told CNN. Foreign policyAmerica’s position on the world stage is also top of mind for young voters. The Israel-Hamas war has proved to be a key sticking point for progressive and young voters, as well as Arab American and Muslim communities. Regardless of what issues are galvanizing young voters to head to the polls, many say they think their turnout in November will surprise some people.

Persons: N’Dea Gordon, ” Gordon, Gordon, who’ve, ”, Donald Trump, Kamala Harris –, they’ve, Logan Paul, Adin Ross, Harris, Vivek Rallabandi, Joe Biden, “ I’m, I’m, ” Rallabandi, Trump, Rallabandi, he’s, “, hasn’t, she’s, Vivek, Darius Diggs, Biden, Diggs, –, Darius Dupri Diggs, Darius Dupri Diggs Chaim Birzen, Birzen, “ That’s, Tyler Sands, Beyton Owens, Finn Gaensler, Finn, “ It’s, ” Gaensler, Roe, Wade, Ava Pallotta, Pallotta, Gen, Erin Clark, Kalkowski, Katelyn, Sebastien Ostertag, Sebastien Ostertag That’s, Ostertag, we’re, Jacob Telenko, ” Telenko, Jean Kojali, ” Kojali, Harris doesn’t, Harris ’, Noe Nunez, Nunez, ” Nunez, “ it’s, Jed Lyons, Joseph Yang, Yang, Joseph Yang “, “ We’re, CNN’s Kate Sullivan, Dana Elobaid Organizations: CNN, Western Governors University, University of Chicago, Trump, Federal Reserve, White, Republican, Marquette Law School, Senate, Trump’s, Harvard University, Boston Globe, Young, America, Democratic, US, Republican Party, Immigration, state’s Young Republican, United States Postal Service Locations: Columbus , Ohio, Pennsylvania, Rockland County , New York, America, Montana, California, Idaho, Santa Cruz , California, “, Port Chester , New York, Chapel Hill , North Carolina, Dearborn , Michigan, Israel, Gaza, Ukraine, Henderson , Nevada, United States, Cobb County , Georgia, Mexico, Zebulon , North Carolina, Mexican American, Gilbert , Arizona, Phoenix, Korean, Chandler , Arizona

☆ The Fed gives the US its first jumbo interest-rate cut in 4 years
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It's the first time the Federal Reserve has cut rates since March 2020. The unemployment rate also ticked down in August, giving the Fed the data it needed to cut rates. AdvertisementAccording to CME FedWatch, which estimates interest-rate changes based on market predictions, a rate cut was all but certain; the question was how big of a cut the Fed would implement. Additionally, some economists and Democratic lawmakers had for months been calling for a rate cut of at least 50 basis points. "They're going to cut rates this week," Bharat Ramamurti, a senior advisor for economic strategy at the American Economic Liberties Project, told reporters during a Monday briefing.

Persons: —, Jerome Powell's, Skanda Amarnath, Democratic Sens, Elizabeth Warren, John Hickenlooper, Sheldon Whitehouse, Powell, delinquencies, Bharat Ramamurti Organizations: Service, Federal, Market Committee, Federal Reserve, Business, CME FedWatch, Democratic, Fed, American Economic Liberties Locations: Jackson Hole , Wyoming, America

☆ Europe's economy survived 'terrible prophecies' but must now tackle trade with China: EU's Gentiloni
▼ + stars: | 2024-09-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. A former prime minister of Italy, Gentiloni has served as the European Commissioner for Economy under EC President Ursula von der Leyen since December 2019. Gentiloni will not be returning for a second term as commissioner following Von der Leyen's tumultuous re-election as president — but he has laid out the economic picture that awaits his imminent successor. "The economy is growing, slowly, but growing. And the risks of differences among the European Union, that was very high when the pandemic happened, are very limited," he noted.

Persons: Paolo Gentiloni, Gentiloni, Steve Sedgwick, Ursula von der Leyen, Von der, —, Russia's Organizations: European Union, Economy, European, European Central Bank, Moscow, European Commission Locations: Ukraine, China, Europe, Cernobbio, Italy's, Como, Italy

☆ One of China’s Most Talkative Nationalists Suddenly Goes Silent
▼ + stars: | 2024-08-06 | by ( Chris Buckley | ) www.nytimes.com time to read: +1 min

One of China’s most influential, and garrulous, nationalist voices on social media has suddenly gone quiet, and the country’s internet is wondering why. But in late July, Mr. Hu stopped updating his page, baffling readers and gratifying some of his critics. Mr. Hu has not explained his silence; nor have China’s internet authorities. But many in China think he has been censored, pointing to signs that party officials may have been irked — paradoxically — because Mr. Hu lauded them in the wrong way. In Mr. Hu’s view, the party used phrasing in its plan for the economy that suggested that China would reduce the status of state-owned companies, giving private companies a big boost.

Persons: Hu Xijin, Hu, Mr, Hu’s Organizations: Global Times, Communist Party, Sina Weibo, Weibo Locations: China

☆ Americans are suddenly finding it harder to land a job — and keep it
▼ + stars: | 2024-07-08 | by ( Elisabeth Buchwald | Alicia Wallace | ) edition.cnn.com time to read: +5 min

Suddenly, the red-hot labor market is feeling closer to lukewarm for job seekers. The unemployment rate rose to a three-year high of 4.1% in June, with 6.8 million people unemployed. At that time a year ago, the unemployment rate was at 3.6% and 6 million people were unemployed. The rising unemployment rate — driven primarily by more people entering the workforce — means that it’s getting more competitive for job hunters to get hired. Since 2022, the temporary help sector has added jobs in only four months.

Persons: It’s, Luke Pardue, switchers, David Tinsley, Jack McIntyre Organizations: CNN, Aspen, Bank of America, Bank of America Institute, “, of Labor Statistics, Labor Department, Brandywine Global

☆ LinkedIn cofounder Reid Hoffman takes aim at venture capitalist David Sacks for his support of Donald Trump
▼ + stars: | 2024-06-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Read previewLinkedIn cofounder Reid Hoffman had some choice words for venture capitalist David Sacks after he endorsed Donald Trump earlier this month. "Sadly, rather than originality, Sacks' letter awkwardly regurgitates pro-Trump groupthink." "The voters have experienced four years of President Trump and four years of President Biden," Sacks wrote in his letter. With respect to economic policy, foreign policy, border policy, and legal fairness, Trump performed better. Sacks' support for Trump — and Hoffman's vocal condemnation for it — comes as a growing faction of Silicon Valley elites have voiced their support for the former president post-conviction.

Persons: —, Reid Hoffman, David Sacks, Donald Trump, Sacks, Joe Biden's, Biden, Hoffman, Trump, Sacks hasn't Organizations: Service, Business, Trump, Putin, Silicon, Republican

☆ UK tech bosses urge focus on AI skills and growth in high-stakes election — no matter who wins
▼ + stars: | 2024-06-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Pa Images | Getty ImagesLONDON — British technology executives and entrepreneurs want the next government to focus on promoting skills around the development and use of artificial intelligence and growth-oriented fiscal measures. Upskilling in an AI ageOne thing U.K. tech executives are pushing for is fostering innovation in artificial intelligence and cultivating citizens' grasp on AI-centric skills — across multiple generations. Last month, dozens of business executives, entrepreneurs, and investors signed an open letter stating their support for Labour in the upcoming election. Leon Neal | Getty Images News | Getty ImagesSignatories included several influential names in the world of U.K. tech: Wikipedia founder Jimmy Wales, Founders Forum co-founder Jonathan Goodwin, and Atom Bank CEO Mark Mullen. Tech bosses CNBC spoke with found themselves unable to point to specific policies and plans from either of the main political parties.

Persons: Rishi Sunak, Sir Keir Starmer, Keir Starmer, Zahra, Salesforce, Einstein, Astro, Matthew Houlihan, Rachel Reeves, Angela Rayner, Leon Neal, Jimmy Wales, Jonathan Goodwin, Mark Mullen, Sunak, Liz Truss, Jeremy Hunt, Danny Lawson, Rishi Khosla, Khosla Organizations: Conservatives, Labour Party, LONDON, it's, Labour, CNBC, Innovation, Cisco, coy, Centre, Getty, Founders Forum, Atom Bank, BAE Systems, Tech Locations: Downing, Salesforce's, Europe, Purfleet, United Kingdom, Ukraine, British, Barrow, Furness, England

☆ More than 100 business leaders including Wikipedia's Jimmy Wales sign open letter backing Britain's center-left opposition
▼ + stars: | 2024-05-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England. LONDON — More than 100 business leaders on Tuesday voiced their support for the U.K.'s center-left opposition Labour Party, nearly five weeks before the country heads to the polls. The group, which includes Wikipedia founder Jimmy Wales and former vice-chairman of JP Morgan Cazenove Charles Harman, said in an open letter to The Times newspaper: "We, as leaders and investors in British business, believe it is time for a change." The writers of the letter claim that the U.K. economy has suffered from a decade of stagnation amid a lack of both political stability and a long-term, consistent economic strategy. The Labour Party has "shown it has changed and wants to work with business to achieve the UK's full economic potential," they said.

Persons: Rachel Reeves, Jimmy Wales, JP Morgan, Charles Harman, Karen Blackett, Andrew Higginson Organizations: Bank of, Labour Party, The Times, WPP, JD Sports, British Retail, Tesco Bank, Heathrow Airport Locations: Bank of England, London, England

☆ Yellen sees no 'showstoppers' on G7 Ukraine loan backed by Russian asset earnings
▼ + stars: | 2024-05-25 | by ( ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen attends an interview with Reuters Editor in Chief Alessandra Galloni in Washington, U.S., April 25, 2024. U.S. Treasury Secretary Janet Yellen said on Friday that she does not see "any showstoppers" in her discussions with fellow G7 finance ministers about a larger loan to Ukraine backed by the income of frozen Russian sovereign assets. Yellen told Reuters in an interview on the sidelines of a G7 finance leaders meeting that not all of the technical details of the loan proposal need to be worked out this weekend. G7 leaders are due to meet next month in Puglia, southern Italy. "I think there is a general view that we should express a common set of concerns to China," she said.

Persons: Janet Yellen, Alessandra Galloni, Yellen, I've Organizations: Treasury, Reuters, U.S . Treasury, Ukraine Locations: Washington , U.S, Ukraine, Stresa, U.S, Puglia, Italy, Japan, Germany, France, Britain, China

☆ Biden calls for a tripling of tariffs on Chinese steel as he makes economic pitch in Pittsburgh
▼ + stars: | 2024-04-17 | by ( Betsy Klein | Michael Williams | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden called on his administration to ratchet up pressure on the Chinese steel industry as he brings his economic competition pitch to Pittsburgh, the heart of the American steel industry, on Wednesday, part of a three-day campaign trail swing through battleground Pennsylvania. The trip comes after Biden last month publicly opposed a controversial $14 billion deal for Japan’s Nippon Steel to purchase US Steel. President Biden will not impose ineffective, across-the-board tariffs that would increase costs and harm hundreds of thousands of jobs,” the official said. The United Steelworkers, a key union representing workers in the steel industry, endorsed Biden’s reelection campaign last month. Trump made tariffs against China a central feature of his global economic strategy, and Biden has largely maintained them, despite external criticism.

Persons: Joe Biden, ” Biden, Biden, Donald Trump, Katherine Tai, “, Tai, Lael Brainard, ” Brainard, “ They’re, ” , ”, Biden’s, he’s, Trump, Xi Jinping, Lloyd Austin, CNN’s Chris Isidore, Arlette Saenz, Kevin Liptak Organizations: CNN, United Steelworkers, United States Trade, National Economic, of, Japan’s Nippon Steel, US Steel . US Steel, Justice Department, Foreign Investment, US Steel, ”, American, steelworkers, Biden, Trump Locations: Pittsburgh, Pennsylvania, China, America, Scranton, Philadelphia, New York City, United States, American

☆ Biden’s China tariff threats are more bark than bite, economists say
▼ + stars: | 2024-04-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden attends a bilateral meeting with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. REUTERS/Kevin LamarqueThe Biden administration this week sent several signals of a toughening U.S. economic strategy against China. Earlier in the week, Treasury Secretary Janet Yellen delivered tougher economic red lines on a visit to China. China has so far denied the overcapacity accusation as "groundless" and fired back that the U.S. is threatening protectionist trade policies to stifle global competition. "It remains unclear what this relationship will endure in the months and years ahead," Yellen said at a press conference in Beijing on Monday.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Biden, Fumio Kishida, Kishida, Janet Yellen, Yellen, CNBC's Sara Eisen, Republican Donald Trump Organizations: Economic Cooperation, REUTERS, China, Japanese, U.S ., Biden, EU, U.S, Republican Locations: Filoli, Asia, Woodside , California, U.S, Washington, Japan, China, United States, Beijing

☆ U.S. Amb. to Japan Rahm Emanuel: China's most persistent & pernicious economic strategy is coercion
▼ + stars: | 2024-04-09 | 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 EmailU.S. Amb. to Japan Rahm Emanuel: China's most persistent & pernicious economic strategy is coercionRahm Emanuel, U.S. Ambassador to Japan, joins 'Squawk Box' to discuss the state of U.S.-Japan relations ahead of the U.S.-Japan summit between President Biden and Japanese Prime Minister Fumio Kishida, U.S.-China relations and doing business in China, and more.

Persons: Japan Rahm Emanuel, Rahm Emanuel, Biden, Fumio Kishida Organizations: U.S, U.S ., Japanese Locations: Japan, U.S, China

The economy has been a drag on Biden's poll numbers, but there are recent signs of improving consumer sentiment. “Though some forecasters thought a recession last year was inevitable, President Biden and I did not,” Yellen said Thursday at the Chicago Economic Club. Yellen also said Trump’s Tax Cuts and Jobs Act “prioritized tax cuts for corporations, disproportionately benefited top earners and did not fix the broken international tax system that encourages companies to shift jobs and profits overseas.”Political Cartoons View All 253 ImagesYellen said the tax cuts added $2 trillion to the national deficit “while doing little to spur investment." Her visit to Wisconsin comes a day after Biden himself was visiting the state to showcase the administration's infrastructure investments. A bipartisan agreement that would revive a variety of tax breaks for businesses and enhance the child tax credit, though not to pandemic-era levels, is moving through Congress.

Persons: Janet Yellen, Trump, Joe Biden, Donald Trump, Biden, ” Yellen, Biden’s, Yellen, I’m, “ Organizations: WASHINGTON, —, Biden, Chicago Economic, Fox News Locations: Illinois, Wisconsin, Milwaukee, Chicago

☆ Watch live: Treasury chief Yellen touts GDP numbers as a boon to the middle class
▼ + stars: | 2024-01-25 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — Treasury Secretary Janet Yellen praised the positive economic growth numbers on Thursday as a benefit for the middle class. "Instead of contracting, the economy has continued to grow, driven by American workers and President Biden's economic strategy." Economic growth for all of 2023 also beat the Wall Street outlook at the start of the year. Consumer spending, measured by core prices for personal consumption expenditures, also rose 2% in Q4 while the headline rate was 1.7%. The rate of inflation reached record highs in 2022.

Persons: Janet Yellen, Joe, Biden, Yellen, Biden's Organizations: Economic, of Chicago, Commerce Department, Federal Reserve Locations: WASHINGTON

☆ Janet Yellen: It’s still too hard to be a working parent in America
▼ + stars: | 2024-01-24 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

There’s much more the President and I would like to do to support the middle class,” Yellen plans to say during the speech at the Economic Club of Chicago. Treasury officials have billed the speech as one of the most significant Yellen plans to deliver this year and an effort to set the tone for her domestic agenda during 2024. We need to get American families access to affordable child care and other support for their children,” Yellen is set to say, according to the excerpts. “This story of the middle class is not separate from the state of the economy. “Though some forecasters thought a recession last year was inevitable, President Biden and I did not,” Yellen will say.

Persons: Janet Yellen, ”, Yellen, Biden, “, Joe Biden, ” Biden, Biden’s Organizations: New, New York CNN, CNN, Economic, of Chicago, Treasury, ”, University of Michigan Locations: New York, Chicago, Covid, North Carolina

☆ UK needs new plan to reverse hit to living standards, researchers say
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

People walk alongside the City of London financial district in London, Britain, October 25, 2023. REUTERS/ Susannah Ireland/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - Britain needs a new economic strategy to reverse 15 years of falling living standards and worsening inequality, a leading think tank and an academic research centre said on Monday. "There is no excuse for fatalism," Torsten Bell, chief executive of the Resolution Foundation, said. "Closing the gap with peers like Australia, France and Germany would deliver huge living standards gains, with typical households over 8,000 pounds better off." ($1 = 0.7881 pounds)Writing by William Schomberg; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Susannah Ireland, Jeremy Hunt, Keir Starmer, Torsten Bell, William Schomberg, Daniel Wallis Organizations: City, REUTERS, Foundation, London School of Economics, Centre for Economic, Labour Party, Conservative Party, Starmer's Labour, Thomson Locations: London, Britain, Australia, France, Germany, Birmingham, Manchester

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