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☆ Mark Cuban says Trump's tariff proposals will ramp up prices
▼ + stars: | 2024-11-10 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Mark Cuban has criticized Donald Trump's tariff proposals. AdvertisementMark Cuban is raising the alarm again on President-elect Donald Trump's tariff proposals. In a Threads post on Friday, Cuban said companies are already bracing for potential tariffs on Chinese imports by shoring up inventory. Cuban wrote that this will inevitably raise consumer prices due to the cost of storing inventory. Many economists say that Trump's tariffs will ultimately hurt consumers' wallets.

Persons: Mark Cuban, Donald Trump's, —, Cuban, Trump, Kamala Harris, Harris, Paul Krugman, Philip Daniele, Timothy Boyle, Oliver Zipse Organizations: Service, Cuban, Trump, Peterson Institute for International Economics, Federal, Taxation, Economic, Columbia, Washington Post, BMW Locations: Cuban, China, United States

☆ Economists say Trump could give Americans the very thing they voted against
▼ + stars: | 2024-11-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

AdvertisementA key sticking point for the 73,479,065 Americans (and counting) who voted for President-elect Donald Trump was inflation. Inflationary promisesThe main Trump proposals viewed as inflationary are: sweeping tariffs on imports, mass deportation of immigrants, and lower taxes. Related storiesTypically, US companies simply pass the tariff costs to consumers via higher prices, and company executives are already signaling this to investors. Possible inflation falloutIf Trump delivers on all of these proposals, then a rebound in inflation is all but guaranteed, economists have said. AdvertisementIt's worth noting that the tariffs Trump enacted in his first term did not result in a significant inflation increase.

Persons: —, Donald Trump, Trump, It's, Taylor Rogers —, Philip Daniele, Timothy Boyle, Wendy Edelberg, Nobel, Paul Krugman, Ned Davis, Veneta Dimitrova, Dimitrova Organizations: Trump, Service, White, Biden, Republican National, Center, Columbia, Washington Post, National Association of Homebuilders, Federal Reserve Locations: China, —

☆ Fed cuts rates again, but Trump's tariff plan sparks inflation fears and market uncertainty
▼ + stars: | 2024-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the Fed cutting interest rates yesterday was never really in doubt . Additional rate cuts aren't as clear, though, as Donald Trump's proposed widespread tariffs could slow down the Fed's plans . The market is indicating inflation could lead the Fed to keep borrowing rates high. AdvertisementGreg McBride, chief financial analyst at Bankrate.com, told Insider Today that Fed Chair Jerome Powell didn't indicate a pause in cuts was coming in December during Thursday's press conference.

Persons: —, MANDEL NGAN, Chelsea Jia Feng, Donald Trump's, Paul Krugman, It's, Chip Somodevilla, Greg McBride, Jerome Powell didn't, Powell, McBride, There's, Dominique Lapointe, Lapointe, Trump, ANGELA WEISS, Morningstar, Trump's, Dave Sekera, Goldman execs, Goldman Sachs, David Solomon, Donald Trump, Jenny Chang, Rodriguez, Elon Musk, David Zaslav, Zaslav, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty Images, BI, Federal Reserve, Treasury, Fed, Manulife Investment Management, Morningstar, Elon, Trump, Keystone State, Big Tech's, Walmart, Target, Costco, Big Media, Warner Bros, Discovery, Paramount, Sony Locations: AFP, China, Pennsylvania, New York, London

☆ Trump is about to make the Fed's job a lot harder
▼ + stars: | 2024-11-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Donald Trump's election victory is set to make the Federal Reserve's job more difficult. His tariff and immigration plans are expected to stoke inflation, complicating the Fed's policy decisions. Trump has also said he'd like a say in setting monetary policy, which would erode Fed independence. Donald Trump's election win brings his vision of hefty trade tariffs and a sweeping immigration crackdown closer to becoming reality. A study from the Peterson Institute of International Economics said interfering with the Fed's independence could cost the economy $300 billion and drive inflation higher.

Persons: Donald Trump's, Trump, —, it's, Glen Smith, Smith, Paul Krugman, Trump's, Jerome Powell, Powell Organizations: stoke, Service, Treasury, GDS Wealth Management, Fed, Fed Trump, Peterson Institute of International Economics, Pantheon Macroeconomics, Trump Locations: China

As Election Day begins to wind down, polls suggest that the presidential race will be one of the closest in the history of American politics, as neither candidate holds a meaningful edge in enough states to win 270 electoral votes.

☆ The US economy is in for a double shock if Trump is elected president, Nobel economist Paul Krugman says
▼ + stars: | 2024-10-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Trump's policies could leave the US economy with two major challenges, Paul Krugman said. Krugman pointed to Trump's economic plan, which economists have described as inflationary. Trump's deportation plans could also hit the economy, given that immigration has boosted the job market. AdvertisementThe US could be in for twin shocks if Trump becomes president for a second time, Nobel economist Paul Krugman said. Trump's general economic plan is also widely thought to be more inflationary than Harris's.

Persons: Paul Krugman, Krugman, —, Trump, Harris Organizations: Service, Peterson Institute for International Economics, Financial Times, University of Chicago, American Immigration, New York Times Locations: York

☆ 2 steps China still needs to take to avoid a 'quagmire' of deflation, Yale economist says
▼ + stars: | 2024-10-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

China is at risk of falling into a prolonged period of deflation, Yale economist Stephen Roach says. The country's monetary stimulus blitz was a move in the right direction, Roach said in an FT op-ed. The two missing pieces are fiscal support and structural reform, Roach wrote in a new op-ed for the Financial Times. AdvertisementAccording to Roach, China's projected GDP rate of 4% over the next five years virtually mirrors Tokyo's situation 30 years ago. China now needs to do the same with fiscal stimulus.

Persons: Stephen Roach, Roach, —, China's, Beijing's hesitancy, Paul Krugman, Krugman Organizations: Yale, Service, Financial Times, Communist Party's Locations: China, Beijing, Japan

☆ Opinion | The Tech Bro Style in American Politics
▼ + stars: | 2024-09-26 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

It seems hard to believe now, but in 2021, Time named Elon Musk its Person of the Year. Musk’s right-wing turn isn’t universal or even typical: Reporting suggests that even with the rightward turn of several boldface names, Silicon Valley remains heavily Democratic. But right-wing tech bros are exerting a significant and, I’d argue, malign influence on the political landscape. Consider the case of JD Vance, the junior senator from Ohio and Donald Trump’s running mate. He’s a remarkable campaigner — remarkable, that is, in the sense that he seems incredibly bad at it.

Persons: Elon, Musk, I’d, JD Vance, Donald Trump’s, Vance, —, rollouts Organizations: Time, SpaceX, Twitter Locations: Silicon, Ohio

☆ Opinion | The Fed’s Big Rate Cut Wasn’t Political. It Was an Economic No-Brainer.
▼ + stars: | 2024-09-19 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

In one sense, you could say that Wednesday’s decision by the Federal Reserve to cut rates was of minimal importance. The interest rate the Fed more or less directly controls — the federal funds rate — is the rate at which banks lend one another money overnight. For one thing, Fed rate changes tend to percolate into longer-term interest rates that really do matter for the economy. For example, the series of rate hikes the Fed undertook in 2022 and 2023 drove 30-year fixed mortgage interest rates up to almost 8 percent from about 3 percent. Most of their decisions are based on the same data about unemployment, inflation and so on available to anyone with an internet connection.

Persons: Jerome Powell, don’t Organizations: Federal Reserve

☆ Trump's tariffs would eat up time and money at even the smallest business, Mark Cuban says
▼ + stars: | 2024-09-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Cuban has warned that Trump's plan to impose sweeping tariffs on US imports would burden even tiny businesses with expensive, arduous compliance. Related storiesHe was critical of Trump's tariffs on China during his time in the White House and has slammed the Republican candidate's threat of more of the same. "Tariffs are the worst possible incentive for all but a few products," he said, adding that they "almost always" cost consumers more money. Tariff pain and small business woePaul Krugman has been vocally against plans for fresh tariffs if Trump wins in November.

Persons: —, Cuban, Elon Musk's, Grok, Trump, He's, Kamala Harris, Paul Krugman, what's, Kevin O'Leary Organizations: Service, Business, Cuban, Trump, Republican, Dallas Mavericks, Yahoo, White, Democratic, Getty Locations: Cuban, China, Wisconsin

☆ Economist Paul Krugman defends Harris' price-gouging plan — but 'Shark Tank' star Kevin O'Leary calls it a 'horror film'
▼ + stars: | 2024-08-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. What works is to flood the market with supply: lots of oil means lower oil prices, lots of labor means lower labor prices, lots of whatever means lower prices — it's a simple supply and demand curve. Obviously, this is a populist political gesture — a way to offer something to voters upset about high food prices. Krugman noted that many states including Texas have laws banning businesses from overcharging for essentials like food and fuel during disasters.

Persons: —, Kamala Harris, Harris, Lindsay Owens, Donald Trump, Mark Zandi, Kamala, Dave Ramsey, It's, cramp, Kevin O'Leary, there's, That's, There's, O'Leary, it's, Kamala Harris's, Gus Ruelas, Paul Krugman, I've, Richard Nixon, Nicolas Maduro, Krugman, Brian Cornell, Cornell Organizations: Service, Democratic, Business, Federal, CBS, Republican, York Post, Fox, Netflix, Fox News, Laureate, Princeton, New York Times, CNBC Locations: York, America, Cuba, Venezuela, North Korea, Soviet Union, Texas, overcharging

☆ The Federal Reserve Must Be Independent. Here’s Why. - The New York Times
▼ + stars: | 2024-08-13 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

On Saturday, Kamala Harris was asked to respond to Donald Trump’s suggestion that the president should have a say in the Federal Reserve’s interest rate decisions. But why should the Fed be independent? The Federal Reserve’s legal status is complicated, but there’s no fundamental constitutional principle saying that elected officials must keep their hands off the money supply. Historically, central banks like the Fed have often been treated like ordinary government agencies, and not only under autocratic regimes. Why take this particular piece of policy out of the hands of elected officials?

Persons: Kamala Harris, Donald Trump’s, “, Trump, Biden Organizations: Fed, Wall Street, Trump, Bank of England, Britain’s Treasury Department Locations: Harris

☆ What Donald Trump Calling Kamala Harris a ‘Communist’ Shows - The New York Times
▼ + stars: | 2024-08-12 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Donald Trump has been using an ugly word to describe Vice President Kamala Harris. For example, Elon Musk, in a post on X, declared “Kamala is quite literally a communist,” demonstrating, among other things, that he quite literally doesn’t know the meaning of “literally.”Now, Harris obviously isn’t a communist. So why does Trump say that she is? Well, red-baiting, like race-baiting — which Trump also does when it comes to Harris — is very much part of the American political tradition. In these countries, politicians like Harris, who supports a free-market economy with a robust social safety net, are known as social democrats.

Persons: Donald Trump, Kamala Harris, Elon Musk, “ Kamala, Harris, Trump, Harris —, Ronald Reagan, It’s Organizations: Coffee, Communist

☆ Opinion | Tim Walz and the Weird Politics of Free School Lunches
▼ + stars: | 2024-08-08 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

You could say that Tim Walz became the Democratic vice-presidential nominee with one weird trick — that is, by using that word to describe Donald Trump and JD Vance, a categorization that went viral. He has also been an activist governor of Minnesota with a strong progressive agenda. And I’d like to focus on one key element of that agenda: requiring that public and charter schools provide free breakfasts and lunches to all students. In any case, free school meals are a big deal in pure policy terms. And the partisan divide over feeding students tells you a lot about the difference between the parties, and why you really, really shouldn’t describe the MAGA movement as “populist.”

Persons: Tim Walz, Donald Trump, JD Vance, Joe Biden, Walz, Kamala Harris, MAGA, ” Organizations: Democratic, Republican Locations: Minnesota

☆ Opinion | The Economy Is Looking Pre-Recessionary
▼ + stars: | 2024-08-05 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

The good news is that they can greatly reduce that risk by losing weight, improving their diet and getting more exercise. But I found myself thinking about medical analogies when looking at recent economic data. The United States probably (probably) hasn’t entered a recession yet. But the economy is definitely looking pre-recessionary. And policymakers — which right now basically means the Federal Reserve — need to move quickly to head off the risks of serious economic deterioration.

Persons: who’ve, they’re, hasn’t Organizations: Fed Locations: United States

☆ 3 reasons to worry about July’s weak jobs report — and 1 reason not to panic
▼ + stars: | 2024-08-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The Federal Reserve now has egg on its face after it kept interest rates near a quarter-century high earlier this week. By now, there’s ample evidence that the job market, a key driver of the US economy, has lost steam. Here are three reasons to be worried about July’s shockingly weak jobs report — and one silver lining. Consumer demand itself also hasn’t weakened just yet, despite the highest interest rates in more than two decades. Generally, the Fed makes its decision congruent with what’s going on with inflation or the job market.

Persons: , July’s, ’, ”, Claudia Sahm, Sahm, Elizabeth Crofoot, Alicia Wallace, Jerome Powell, ” Crofoot, ” Michael Gapen, Matt Egan, weren’t, ” Truist’s Keith Lerner, they’ll, hasn’t, ” Chris Rupkey, Alan Blinder, Paul Krugman Organizations: New, New York CNN, Federal Reserve, Fed, Bloomberg, Bank of America, Dow, Nasdaq, Wall, Investors, Labor, Citigroup, JPMorgan Locations: New York, decelerate, American

☆ Opinion | How 2024 Became a Crypto Election
▼ + stars: | 2024-08-01 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

I didn’t anticipate the political twists and turns of the past few weeks, but then, who did? One thing I do blame myself for not seeing coming, however, is the extent to which this has become a crypto election. What is crypto? Donald Trump recently said, “Most people have no idea what the hell it is.” Indeed. Even now, it’s hard to explain exactly what Bitcoin and other crypto assets really are.

Persons: Donald Trump, “

☆ It’s not the end of the world if the Fed doesn’t cut rates tomorrow
▼ + stars: | 2024-07-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The Federal Reserve is all but certain to hold interest rates steady at its meeting this week. That’s why Torsten Slok, Apollo Global’s chief economist, is maintaining his prior forecast that the Fed won’t cut rates at all this year. “There are still two more CPI releases before the September 18 [Fed] meeting, so we have to wait and see if the downtrend in inflation continues,” he told CNN. Fed officials have signaled that September will be when they finally lower interest rates. The difference between a few months for that initial cut “really doesn’t matter unless there’s some big shock that hits the economy in that time,” Fed Governor Christopher Waller said earlier this month.

Persons: Alan Blinder, Paul Krugman —, Blinder, what’s, Brandon Bell, Torsten Slok, Apollo, ”, Sean Snaith, it’s, Christopher Waller, Waller Organizations: New, New York CNN, Federal, CNN, ” University of Central, ” Locations: New York, ” University of Central Florida, Iran, Israel

☆ The Sahm Rule Hints at Recession, But Don’t Panic - The New York Times
▼ + stars: | 2024-07-30 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Do you remember the 2023 recession? But back in 2022 there were so many confident predictions of imminent recession that I wonder whether some people have the vague sense that they must have come true. I could have told you at the time that this analogy was wrong, and in fact I did. The inflation doomerism of 2022, I’m tempted to say, was the least responsible economic projection, at least by mainstream economists, made in the past 40 years. When it inverts — when long-term rates are lower than short-term rates — this has historically predicted a recession (recessions are the shaded areas on the chart):

Persons: I’m

☆ How Did JD Vance Get Here? - The New York Times
▼ + stars: | 2024-07-29 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

There are talented politicians, there are untalented politicians, and then there’s JD Vance — I mean, he tried to calm the furor over his “childless cat ladies” remarks by feebly deadpanning that he’s “got nothing against cats.”Now he’s just gaslighting, claiming that Kamala Harris called for an end to the child tax credit, even though as part of the Biden administration, she of course supported a major expansion of the tax credit that greatly reduced child poverty but expired in 2022 in the face of unified Republican opposition. So how did this guy end up as the Republican vice-presidential nominee? Who’s his constituency? Despite the “Handmaid’s Tale” vibe of his views on women and reproductive rights, he doesn’t have deep roots in the religious right. And he’s a late adopter of the MAGA worldview, having once fretted that Donald Trump could wind up being “America’s Hitler.”Vance’s ascent has, to a significant degree, been powered by a small group of technology billionaires with Peter Thiel, who poured millions into Vance’s 2022 Senate race, at the center.

Persons: JD Vance —, feebly, “, Kamala Harris, Biden, MAGA, Donald Trump, “ America’s Hitler, Peter Thiel Organizations: Republican, Senate

☆ Opinion | JD Vance’s ‘Cat Ladies’ Riff Has Serious ‘Handmaid’s Tale’ Vibes
▼ + stars: | 2024-07-25 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

You may have heard about JD Vance’s “childless cat ladies” riff. It’s a statement, as my colleague Jessica Grose writes, that shows the desperation of Republicans who are still “clinging to the tag line that the G.O.P. It’s the kind of comment that makes you wonder if Vance thinks that he has been nominated by the Republican Party to serve as the vice president of the Republic of Gilead. Sorry — yes — Vance knows that our nation is still called the United States of America. But there’s a real “Handmaid’s Tale” vibe to a lot of what we’re hearing from the right.

Persons: JD Vance’s, Vance, they’ve, Kamala Harris, It’s, Jessica Grose, — Vance Organizations: Senate, Republican Party Locations: America, Republic of, United States of America

☆ Why immigration is boosting the US economy, according to Nobel economist Paul Krugman
▼ + stars: | 2024-07-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewImmigration isn't taking jobs away from Americans — and it's actually great for the US economy, according to Nobel laureate Paul Krugman. The unemployment rate among native-born workers remains near a historical low US Bureau of Labor Statistics/Federal ReserveThe labor force participation rate among native-born workers has been on the decline, but among prime-age native-born workers, the labor force participation rate has actually been rising, Fed data shows. Advertisement"So the near stagnation of native-born employment isn't a demand-side issue, in which people aren't working because they can't find jobs. If we didn't have the immigrants, we wouldn't have the jobs," Krugman wrote. AdvertisementOther economists and strategists on Wall Street have said immigration could end up being a big boost to the economy.

Persons: —, it's, Paul Krugman, Trump, Krugman, they've, We've, There's, aren't Organizations: Service, The New York Times, Business, Federal Reserve, Bureau of Labor Statistics, US, of Labor Statistics, Fed, Congressional, Office Locations: America, Foreign

☆ Wages have outpaced inflation since 2020 but many consumers still feel burdened by prices
▼ + stars: | 2024-07-24 | by ( John Towfighi | ) www.businessinsider.com time to read: +5 min

Read previewAmerican consumers have been frustrated by high prices over past years, but there's some good news: wages have outpaced inflation since the start of the COVID-19 pandemic. Since 2020, average hourly wages for most US workers have risen faster than the consumer price index, meaning income has maintained its purchasing power against rising prices. While wage gains have outpaced inflation, it can be difficult for consumers to feel the growth, and plenty of people still miss the "good old days" of lower prices. Since spring 2023, year-over-year wage growth for production and nonsupervisory workers has consistently been above inflation. While US consumers adjust to higher prices, strong wage growth should help ease affordability concerns, Krugman wrote.

Persons: —, Sarah Foster, Foster, Paul Krugman, Krugman Organizations: Service, Bureau of Labor Statistics, Business, Michigan Ross, Economic Policy Institute, Federal Reserve, New York Times Locations: jtowfighi@businessinsider.com

☆ Opinion | Trump’s Cynical Attempt to Pit Recent Immigrants Against Black Americans
▼ + stars: | 2024-07-22 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Obviously, the big political news of the past couple of days has come from the Democratic side. But before last week’s Republican National Convention fades from view, let me focus instead on a development on the G.O.P. Until now, most of the anti-immigration sloganeering coming from Donald Trump and his campaign has involved false claims that we’re experiencing a migrant crime wave. Increasingly, however, Trump and his associates have started making the case that immigrants are stealing American jobs — specifically, the accusation that immigrants are inflicting terrible damage on the livelihoods of Black workers. Of course, the idea that immigrants are taking jobs away from native-born Americans, including native-born Black Americans, isn’t new.

Persons: Donald Trump, Trump, JD Vance, Vance Organizations: Democratic, Republican, Black

☆ Americans want prices to go down, but deflation could spark a wave of unemployment, top economist Paul Krugman says
▼ + stars: | 2024-07-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Falling prices could bring on a spike in unemployment and wage cuts, according to Paul Krugman. The Nobel economist pointed to pressure from consumers to lower high prices. The US appears to be entering a soft landing, he said, where inflation eases without a rise in unemployment. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmericans hate high prices — but there's a reason people should hope the cost of goods and services don't drop back to pre-pandemic levels, according to Nobel laureate Paul Krugman.

Persons: Paul Krugman, — Organizations: Service, The New York Times, Business

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