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His Cabinet picks, including the Treasury secretary, traditionally have to be confirmed by the Senate. “The Treasury secretary has historically played a significant role in advancing the administration’s tax policy priorities,” Akabas said. Next year, Trump’s Treasury secretary will act as the quarterback, executing his economic gameplan. It will also fall to Trump’s Treasury secretary to put out fires in financial markets or in the real economy like the regional bank failures that rocked Wall Street and Washington early last year. Trump’s Treasury pick will also help manage the complicated relationship between the president and Federal Reserve Chairman Jerome Powell.
Persons: Donald Trump’s, Trump, , , Ed Mills, Raymond James, Janet Yellen, Shai Akabas, Steven Mnuchin, ” Akabas, Isaac Boltansky, Jerome Powell, Powell, Mills Organizations: CNN, Quarterbacking, Treasury Department, Department, Treasury, Trump, Senate, Republicans, Capitol, Wall, Washington, Committee, Federal, Fed, Trump White House Locations: Washington, filers
Yet there is another force that could deter Trump from some of his most extreme instincts: the $50 trillion US stock market. A view of the New York Stock Exchange on Wall Street on November 13 in New York City. A view of the New York Stock Exchange (NYSE) on Wall Street November 13, 2024, in New York City. Angela Weiss/AFP/Getty Images“There is zero chance that he will take personally any negative feedback from the stock market,” said Sonnenfeld. While the stock market initially celebrated the election results, the bond market did not.
Persons: Donald Trump, Gary Cohn, Trump, Jack Smith, CNN’s Kayla Tausche, , Isaac Boltansky, Angela Weiss, Jerome Powell, Trump’s, Xi Jinping, Ed Mills, Raymond James, Jeffrey Sonnenfeld, Alexander Hamilton, Chip Somodevilla, ” Lori Calvasina, it’s Organizations: New, New York CNN, Trump Republicans, Dow Jones, Federal, New York Stock Exchange, Getty, Trump, CNN, Yale, Leadership, Treasury, Fed, U.S . Department of Treasury, RBC Capital Markets Locations: New York, China, New York City, Argentina, Washington, , Washington ,, recalibrate
Kennedy will likely have some influence over who the president-elect chooses for those roles, health policy experts said. Ultimately, Kennedy's influence over immunization policy could lead to an increase in diseases preventable by vaccines, several health policy experts told CNBC. Investors are already bracing for a crackdown on food policy, with shares of processed food companies, such as Pepsi and Coca-Cola , falling on Friday. Seigerman said "there is little precedent in recent history for HHS policy dictating or affecting FDA regulation or approval of drugs." In 2023, pharmaceutical companies spent nearly $3 billion on advertising for the 10 most promoted drugs.
Persons: Robert F, Kennedy Jr, Thomas Machowicz, Donald Trump, Kennedy, Trump, trifecta, Spokespeople, Brandon Guerrero, Christina House, Gostin, Josh Michaud, Lawrence Gostin, Michaud, he's, Genevieve Kanter, Kanter, Covid, Richard Frank, Frank, Evan Seigerman, Seigerman, Dave Latshaw, Latshaw, Drugmakers, Joe Biden's, Amy Campbell Organizations: Reuters, Department of Health, Human Services, Republican, HHS, Affordable, Food and Drug Administration, Centers for Disease Control, National Institutes of Health, Centers, Medicare, Services, CNBC, CVS, Los Angeles Times, Getty, Health Defense, NBC News, FDA, NPR, Georgetown University, CDC, Vaccines, Children, Kennedy, NIH, University of Southern, Brookings Schaeffer Initiative, Health, pharma, RFK, BMO Capital, Pepsi, Trump, University of Illinois Chicago School of Law Locations: Phoenix , Arizona, U.S, Compton, Huntington Park, Kennedy ., University of Southern California
“So, I paid it.”On online baby message boards and other social media forums, pregnant women say they are being asked by their providers to pay out-of-pocket fees earlier than expected. In some cases, they may cause women to forgo prenatal care altogether, especially in places where few other maternity care options exist. When a pregnancy ends, OB-GYNs typically file a single insurance claim for routine prenatal care, labor, delivery, and, often, postpartum care. In addition, many people are opting for high-deductible health insurance plans, leaving them to shoulder a larger share of the costs. Of the 100 million U.S. people with health care debt, 12% attribute at least some of it to maternity care, according to a 2022 KFF poll.
Persons: Kathleen Clark, Clark, that’s, , , Caitlin Donovan, Lisa Satterfield, it’s, Pamela Boatner, isn’t, Boatner, Peterson, Joy Burkhard, Erin Duffy, Jamie Daw’s, GYN, Daw, Sabrina Corlette, Lacy Marshall, Marshall, Dr, Sanjay Gupta, , Peter, “ I’m Organizations: Health, OB, Patient Advocate Foundation, American College of Obstetricians, Maternal Mental, University of Southern California’s Schaeffer Center for Health, Columbia University, Center, Georgetown University, Medical, Rapha Health, CNN, CNN Health, KFF Locations: Cleveland , Tennessee, U.S, Georgia, Los Angeles, New York, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeploying Western-made long-range missiles is not a changing point for the war, analyst saysMax Hess, a fellow at the Foreign Policy Research Institute, says that U.S. President Joe Biden's decision to allow Ukraine to deploy America-made long-range missiles is not a major changing point for the war.
Persons: Max Hess, Joe Biden's Organizations: Foreign Policy Research Institute Locations: Ukraine, America
Andrew Harnik | Getty ImagesPresident-elect Donald Trump's return to the White House is poised to have big impacts on consumer health care. CMS, in turn, administers the Affordable Care Act marketplace and the Children's Health Insurance Program (CHIP), among other endeavors. A spokesperson for Trump's transition team did not respond to a request from CNBC for comment about the President-elect's health policy plans. Still, it's a 'big' gamble to forgo health insurance Around 3.8 million people will lose their health insurance if the subsidies expire, the Congressional Budget Office estimates. Short-term health insurance plans offer coverage for limited amounts of time, and typically on fewer medical services than comprehensive coverage.
Persons: Donald Trump, Andrew Harnik, Donald Trump's, Michael Sparer, Sparer, Trump, Robert F, Kennedy Jr, Kennedy, who's, Mario Tama, Cynthia Cox, I'd, Cox, Sabrina Corlette, Georgetown University's, Corlette, Carolyn McClanahan, Larry Levitt, Levitt, enrollee, they're, Yasin Ozturk, Biden, It's, Organizations: Base Andrews, Getty, Affordable, Trump, Republican, Columbia University, of Health Policy, Management, of Health, Human Services, Medicare, Services, CMS, Children's Health Insurance, Washington Post, The Washington Post, CNBC, Providence St, Mary Medical Center, Finance, American, ACA, Cox, Congressional, Office, Republicans, Center, Health, Georgetown, Georgetown University's McCourt School of Public, Planning Partners, Medicaid, Social Security, Maskot, of Columbia, U.S, Capitol, Washington , D.C, Anadolu Agency, GOP, Corlette, pharma, Centers Locations: Base Andrews , Maryland, U.S, Duluth, Apple Valley , California, Jacksonville , Florida, Washington ,
“Donald Trump’s bungling of public health policy during the Covid pandemic cost hundreds of thousands of lives. “FDA’s war on public health is about to end,” he said in a social media post. Pack your bags.”That warning followed comments Kennedy has made about ending National Institutes of Health research into infectious diseases, putting doctors in the field on edge. water systems to remove fluoride from public water. Kennedy’s messaging on food policy has resonated with some health experts in that field.
Persons: Donald Trump’s, Robert F, Kennedy Jr, Dr, Ashish Jha, , Carlos del Rio, Trump, ” Trump, “ Robert F, Kennedy, Jr, ” Robert Weissman, “ Donald Trump’s bungling, Michael Osterholm, , Osterholm, he’d, Ronald Reagan’s, he’s, ” Kennedy, Paul Offit, Jesse Watters, I’ve, Jason Schwartz, Edward Chen, it’s, I’m, Ashley Malin, ” Malin, Food Kennedy, Sanjay Gupta, Marion Nestle, Sen, Ron Johnson, Nestle, ” Nestle, CNN’s Carma Hassan, Nadia Kounang, Daniel Dale, Aaron Pellish Organizations: CNN, US Department of Health, Human, Brown University School of Public Health, Emory School of Medicine & Grady Health, Public Health, Health, HHS, Department of Health, Human Services, Public Citizen, Infectious Disease, University of Minnesota, US Centers for Disease Control, US Food and Drug, FDA, Pharma, of Health, Vaccine Education Center, Children’s Hospital of Philadelphia, CDC, Vaccines, Health Defense, Fox News, Yale School of Public Health, Trump White, U.S, American Dental Association, Environmental Protection Agency, MSNBC, Epidemiology, University of Florida’s College of Public Health, CNN Health Locations: Wisconsin
Major tech companies have cracked down on fully remote work, including Amazon, Google, and Meta. Get into the office and soak up the knowledge within its walls, Google's former CEO says. Studies have also suggested that being fully remote decreases workers' productivity. Companies, including Amazon, JPMorgan, and Goldman Sachs, have ditched their remote work policies for full return-to-office mandates, with some even threatening to track performance or terminate those who don't comply. However, Google assured workers in October that it would not follow Amazon's expectations for staff to come into the office five days a week.
Persons: Eric Schmidt, Schmidt, , unravels ChatGPT, Goldman Sachs, Mark Zuckerberg, Sam Altman, Eric misspoke Organizations: Amazon, Google, Service, Technologies, Street, Stanford's Institute for Economic Policy Research, Companies, JPMorgan, Meta, Fortune, Stanford University
Gaetz has criticized Big Tech for censoring conservatives and supports antitrust enforcement. Both the Justice Department and the FTC enforce antitrust laws that impact large tech companies. Gaetz has frequently railed against Big Tech, accusing Silicon Valley firms of censoring conservatives. The current Federal Trade Commission chair, Lina Khan, whom Trump may end up replacing, has aggressively gone after Big Tech companies. "But the hurdles for Big Tech could remain elevated," he added.
Persons: Donald Trump, Matt Gaetz, Gaetz, , Trump, Lina Khan, Khan, JD Vance, Mark, Buchanan Ingersoll, Rooney, he's, Isaac Boltansky, Barron's, Kasten, TikTok, George Hay, Hay Organizations: Big Tech, Justice Department, Service, Senate, Florida Republican, Business, FTC, Federal Trade Commission, Nvidia, Meta, Microsoft, Wall Street Journal, China, Apple, Google, Cornell University Locations: Florida, Silicon, Silicon Valley
The US has sent Ukraine and Israel billions of dollars worth of ammunition in recent years. The wars in Ukraine and the Middle East show the US how much ammo it will need for its next big war. Beyond the ammunition, the US has also sent Ukraine a significant amount of armored vehicles, air-defense systems, drones, anti-tank weapons, small arms, and more. Given Beijing's formidable arsenal of anti-ship missiles, Navy vessels would need to be well-armed with interceptors to take down these threats and defend American assets in the Pacific. The US has transferred Patriot batteries and their associated interceptor missiles to Ukraine, where they have gotten a workout against Russian missiles.
Persons: , Bradley Martin, Biden, Dwight D, Eisenhower, Mark Cancian, Martin, Alexandra Shea, Lockheed Martin Organizations: US, Service, Factory, AP, Pentagon, Brown University, US Navy, Navy, US Marine Corps, Center for Strategic, International, RAND, US Army, Pacific . Officials, Russian, Ship Locations: Ukraine, Israel, Red, Navy, Russia, Ukrainian, Iran, Yemen, Gulf of Aden, Iranian, China
Millions of Americans risk losing subsidies next year that help them pay for health insurance following President-elect Donald Trump’s election win and Republicans’ victory in the Senate. Even Democratic control of the House likely won’t save the subsidies, he added. As of Thursday afternoon, House Republicans had won 209 seats, just nine short of the majority, according to an NBC News tracker. In 2024, more than 20 million people got health insurance through the ACA, according to the Centers for Medicare and Medicaid Services. “This means fewer people will know their rights under the law and many will not sign up for ACA health care plans.
Persons: Donald Trump’s, , Trump, Chris Meekins, Raymond James, , , Meekins, Cynthia Cox, Cox, ” Cox, Lawrence Gostin, ” Gostin, Gostin Organizations: Republicans ’, Senate, American, Republicans, White House, GOP, HHS, NBC, Centers, Medicare, Services, Congressional, Trump, CBO, Congress, O’Neill Institute for National, Global Health Law, Georgetown University, ACA Locations: Southern, KFF
Leading the way was Trump Media and Technology Group (TMTG), the company that owns the Truth Social media platform. Shares of Tesla, the electric automaker owned by Elon Musk, also saw a sizable gain — up 12%. Finally, the price of bitcoin saw an increase of 6.5%, briefly touching an all-time-high of more than $75,000. Trump served as keynote speaker at this year's annual Bitcoin conference in Nashville. Trump has generally pledged to extend or enact major tax cuts while loosening regulations, something that the business community is set to embrace.
Persons: Donald Trump —, Trump, Elon Musk, Musk, Kamala Harris, Isaac Boltansky Organizations: Trump Media, Technology, Social, TMTG, Tesla, Elon, Democratic, Trump Locations: Nashville
Major stock indexes soared Wednesday morning in the wake of Donald Trump's decisive victory in Tuesday's presidential election. The last time the Dow, which represents larger, more established firms, saw a 1,000-point jump in a single day was November 2022. NBC News is projecting that Trump will finish with 276 Electoral College votes in his defeat of Vice President Kamala Harris, his Democratic opponent. Trump has promised to extend or enact sweeping tax cuts and deregulatory policies that are widely supported across the business community. That represents market pushback on one of Trump's key policy planks: A weaker dollar that would support U.S. exports.
Persons: Donald Trump's, Kamala Harris, Trump, David Bahnsen, Wells, Russell, Isaac Boltansky, Boltansky Organizations: Nasdaq, Dow Jones Industrial, Dow, NBC, Trump, Electoral, Democratic, Senate, Bahnsen, JPMorgan, Bank of America, U.S Locations: Wells Fargo, BTIG, U.S
BTIG's list of biggest Trump winners and losers
  + stars: | 2024-11-06 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
In addition, he has floated plans to reduce corporate tax rates to as low as 15% from 21%, and eliminate income tax on tips, Social Security and overtime pay. Those include reduced individual income tax rates and increased alternative minimum tax (AMT) exemption amounts. These stocks are among those BTIG sees as the biggest winners and losers from Trump's victory. Winners M & A and consolidation A Trump presidency likely means a more supportive environment for corporate consolidation, Boltansky said. That would be positive for names like HealthEquity, which BTIG rates a buy, and Webster Financial , he noted.
Persons: Donald Trump, BTIG, Isaac Boltansky, Trump, Boltansky, CoreCivic, MicroStrategy, Webster Organizations: White, ACA, Social Security, Trump, Discover Financial, Discover, Republican White, Geo, United States Marshals Service, Federal Bureau of Prisons, Geo Group, Webster Financial, HealthEquity, Everest Group Locations: United States, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley's Zezas: Stocks may not benefit from a Republican win the same way they did in 2016Michael Zezas, Morgan Stanley head of U.S. public policy research, joins CNBC's 'Squawk on the Street' to discuss how stocks may react to a Republican vs. Democratic win, policy expectations for both candidates, and more.
Persons: Morgan Stanley's Zezas, Michael Zezas, Morgan Stanley Organizations: Republican, Democratic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina relations 'top of mind' in election, says Brookings' Michael O'HanlonMichael O’Hanlon, Brookings Institutions director of foreign policy research, to discuss what foreign relations are most at stake for the U.S. election, how China relations could play out in either election outcome, and more.
Persons: Brookings, Michael O'Hanlon Michael O’Hanlon Organizations: China, Brookings, U.S Locations: China
Bloomberg | Bloomberg | Getty ImagesRegardless of the outcome of the U.S. presidential election, there could be some clear winners for exchange-traded funds, or ETFs, experts say. Potential winners and losersIn the months ahead, some ETFs or funds could outperform depending on the election outlook. Exchange-traded funds have steadily gained popularity among investors, with ETF assets crossing the $10 trillion mark in September — a trend experts say is largely due to advantages like lower tax bills and fees relative to mutual funds. Exchange-traded funds are generally known for passive strategies, but there has also been a surge in actively managed ETFs, with the goal of beating the performance of broader markets. watch nowHowever, most financial advisors caution against making hasty changes to your investment portfolio based on the outcome of this election.
Persons: Donald Trump, Kamala Harris —, Kim Wallace, Anu Ganti, Dow, Kristina Hooper, Harris, Invesco's Hooper, Hooper, Trump, Biden, 22V's Wallace, Wallace Organizations: Bloomberg, Getty, U.S, Democratic, ETF.com, Dow Jones Indices, Big Tech, Trump, Congress, Exchange, Federal Locations: Washington, U.S,
Brundage was a key figure in AGI research at OpenAI. He was also responsible for some of OpenAI's biggest safety research innovations, including external red teaming, which involves bringing outside experts to look for potential problems in the company's products. AdvertisementBrundage said his departure, at least, was not motivated by specific safety concerns. "I'm pretty confident that there's no other lab that is totally on top of things," he told Hard Fork. He told Hard Fork that he still stands by the decision and elaborated on why he left.
Persons: Miles Brundage, OpenAI, Brundage, , we're, John Schulman, AGI, Dario Amodei, Anthropic Organizations: Service, AGI
AdvertisementChina's warplanes are pressuring Taiwan and have all but eliminated an important dividing line, with near-daily incursions creating a dangerous new normal. Since 2020, Taiwan has released regular, almost daily updates on incursions in its air defense identification zone by Chinese military aircraft. In 2021, the Chinese military flew 972 aircraft into Taiwan's ADIZ, and that number nearly doubled in 2022. "We've become desensitized to high numbers of the military aircraft flying across the median line of the Taiwan Strait," Shattuck told Business Insider. AdvertisementChinese incursions are tiring out Taiwan's forcesThe near-daily ADIZ incursions aren't just changing the status quo in the area; they're also exhausting Taiwan's military.
Persons: , Thomas J, Shattuck, Benjamin Lewis, They're, Nancy Pelosi, We've, hasn't, Lai Ching, of National Defense Yen Teh, Lewis, Lai, Taiwan's, Amanda Hsiao, GAO Organizations: Service, Foreign, Research, deconfliction, Taiwan, Getty, CAP, People's Liberation Air Force, Taiwan's Military News Agency, Anadolu, Getty Images, People's Liberation Army, of National Defense, Democratic Progressive Party Locations: Taiwan, China, AFP, Taiwan Strait, Taiwan's, Getty Images China, Taipei, Washington, Beijing, Taiwan's ADIZ, United States
AdvertisementWith North Korean forces believed to be moving toward Russia's front lines, fears are growing that the Ukraine war is about to enter a new phase. Around 3,000 North Korean soldiers arrived in Russia last week, according to US, South Korean, and Ukrainian intelligence. The reports signaled a deepening military alliance between Russia and North Korea — an alliance that has been met with a muted response from China. AdvertisementThe bland statement may have been aimed at balancing its influence over North Korea and Russia with its relationship with Ukraine's Western allies. For North Korea, China has long been its most important ally, providing trade, diplomatic support, and military aid to Kim Jong Un.
Persons: , Ukraine's, Bruce Klingner, Kim Jong Un, Ali Wyne, Sari Arho Havrén, Trump, Ann Marie Dailey Organizations: Service, Council, Foreign Relations, European Union, EU, Bank, China, Heritage Foundation, North, Royal United Services Institute, RAND Locations: China, Russia, Ukraine, South, North Korea, EU, Beijing, North, Eurasia, Korea
How each presidential candidate's tax policy compares
  + stars: | 2024-10-28 | 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 EmailHow each presidential candidate's tax policy comparesMichael Zezas, Morgan Stanley head of public policy research, joins 'Money Movers' to discuss if this presidential cycle is harder to model than usual, which election scenario clients are most interest in, and much more.
Persons: Michael Zezas, Morgan Stanley
And birth control and abortion access play key roles in women's economic success. Several states will have abortion access on the ballot. Access to reproductive healthcare made the difference again for Young when she experienced a miscarriage at work during a subsequent pregnancy. AdvertisementAbortion denial has downstream effects on women's economic potential, Salganicoff said, impacting everything from their education level to their ability to advance in their careers. Similarly, a recently published study from the Georgetown Center on Poverty and Inequality found that restrictions on abortion access "pose significant risks to the well-being and economic security of women," especially low-income women.
Persons: Tracy Young, , Young, Alina Salganicoff, Salganicoff, Roe, Wade Organizations: Service, LinkedIn, Guttmacher Institute, University of California, Georgetown Center Locations: Women's, California, San Francisco
In North Carolina, the signs read in Spanish, “WARNING: if you are not a citizen of the United States of America, you cannot vote in elections. Earlier this week, Forward Justice addressed a letter to the North Carolina State Board of Elections, calling for the signs to be removed because they constitute "unlawful voter intimidation." The letter was co-signed by nearly two dozen organizations, including the North Carolina chapter of the American Civil Liberties Union. It’s already illegal for noncitizens to vote in elections in North Carolina and at the federal level — and illegal voting rarely happens. Early voting in North Carolina ends on Nov. 2.
Persons: it's, , , Cleta Mitchell, Mitchell, Donald Trump’s, Kathleen Roblez, hotlines, Jaclyn Maffetore, Maffetore, Spanish Jim Womack, Womack Organizations: North, Democratic Oklahoma, Forward Justice, North Carolina State Board, American Civil Liberties Union, ACLU, noncitizens, Brennan, Cato Institute, Heritage Foundation, GOP, Homeland Locations: North Carolina, United States of America, Durham County, U.S, Spanish, Lee County
OpenAI is disbanding its "AGI Readiness" team, which advised the company on OpenAI's own capacity to handle increasingly powerful AI and the world's readiness to manage that technology, according to the head of the team. On Wednesday, Miles Brundage, senior advisor for AGI Readiness, announced his departure from the company via a Substack post. Former AGI Readiness team members will be reassigned to other teams, according to the post. Madry will still work on core AI safety work in his new role, OpenAI told CNBC at the time. Leike added that OpenAI must become a "safety-first AGI company."
Persons: OpenAI, Miles Brundage, Brundage, Miles, Mira Murati, Bob McGrew, Barret Zoph —, Aleksander Madry, Madry, reassign Madry, Sam Altman, it's, Altman, Lina Khan, they've, OpenAI's, Ilya Sutskever, Jan Leike, Leike, Greg Brockman, Brockman Organizations: AGI Readiness, CNBC, Security Committee, Google, Microsoft, Meta, Princeton University, Democratic, Federal Trade Commission, Department of Justice, Nvidia Locations: OpenAI
Donald Trump's planned tariffs as president threaten to ruin Christmas next year, Mark Cuban said. The "Shark Tank" star said a 60% tariff on Chinese imports would raise the price of presents. Kamala Harris told Cuban that Trump's economic plans would fuel inflation and cause a recession. AdvertisementChristmas will be ruined next year if Donald Trump is reelected president and enacts his tariff plans, Mark Cuban said. "To me, I think Donald Trump is the Grinch that stole Christmas," Cuban told Vice President Kamala Harris in a conversation uploaded to YouTube on Wednesday.
Persons: Donald Trump's, Mark Cuban, Kamala Harris, Cuban, , Donald Trump, we're, Trump, Harris Organizations: Service, YouTube, Democratic, Trump, Republican, Tax, Yale, Cuban Locations: China
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