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More than half of Americans think the United States is in an economic recession, although gross domestic product has been increasing for the past several years. According to a new Guardian/Harris poll, 56% of respondents said they believe the U.S. is in a recession and 58% say that President Joe Biden is responsible for what they see as an economic downturn. A recession is an extended period of economic decline, usually designated when GDP has declined for two or more consecutive fiscal quarters. U.S. GDP growth has been outpacing that of other developed nations. The Guardian/Harris poll is yet another example of an ongoing gap between economic data and economic feelings that has nagged the Biden administration in recent months.
Persons: Kristen Visbal, Harris, Joe Biden, Biden, NBC's Organizations: New York Stock Exchange, Guardian Locations: New York City, United States, U.S, ., America
Independent U.S. presidential candidate Robert F. Kennedy Jr. hikes in the Santa Monica Mountains in Los Angeles on March 18, 2024. "My administration will support the Ape retail rebellion and enact aggressive Wall Street reforms," Kennedy Jr. wrote in a social media post. The apes were motivated in part by a desire to buck bearish Wall Street analysts' grim assessments of the companies' long-term prospects. Kennedy Jr. is actively courting undecided voters with a fringe political brand that could appeal to some anti-establishment meme stock investors. Kennedy Jr. has made obscure statements about his investment record.
Persons: Robert F, Kennedy Jr, Joe Biden, Donald Trump, Kennedy, Trump's, Trump Organizations: Independent U.S, GameStop, AMC Locations: Santa Monica, Los Angeles, bitcoin
U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, on March 11, 2024. President Joe Biden took a victory lap after Target announced it was lowering prices on groceries and other items — and hopes voters will give him the credit. "President Biden called on grocery chains making record profits to lower prices for consumers — and they're answering the call," the White House wrote in a social media post Monday evening in response to a headline about Target's price cuts. Earlier on Monday, Target announced it would lower prices on roughly 5,000 items, including food items such as bread, fruit, vegetables, milk and meat. "President Biden's top economic priorities are fighting inflation and lowering costs for the American people," White House spokesperson Andrew Bates wrote in a memo Monday.
Persons: Joe Biden, Biden, Biden's, Andrew Bates Organizations: Target, White Locations: Goffstown , New Hampshire
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Trump Media & Technology Group, the parent company of Donald Trump's Truth Social platform, disclosed a net loss of $327.6 million in the first quarter of the year, with total revenue at $770,500, according to its earnings report, filed Monday with the Securities and Exchange Commission. "We are particularly excited to move forward with live TV streaming by developing our own content delivery network, which we believe will be a major enhancement of the platform," Nunes added. In April, the company announced that Truth Social would launch a TV streaming platform in three phases, the first for Android, iOS, and Web. In its Q1 report, TMTG said it has signed contracts with its first data center partner, which would host the TV platform, and a hardware vendor to provide equipment.
Persons: Donald Trump, Donald Trump's, Devin Nunes, Nunes, TMTG Organizations: Trump Media & Technology Group, Securities and Exchange Commission, Nasdaq, Android, SEC, BF Locations: Washington ,
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. President Joe Biden has had it out for corporate America for much of his term. This kind of rhetoric has left some in the corporate community with a sour taste. In response, the business community has repeatedly sued the Biden administration for its regulatory action. "Rich special interests are pushing back to protect their abuses and junk fees," Bates added in the Monday memo, nodding to those lawsuits.
Persons: Joe Biden, Biden, Andrew Bates, Neil Bradley, Bates Organizations: America, Big Pharma, U.S . Chamber of Commerce, CNBC, Commerce, Federal Trade Commission Locations: Washington , U.S, California
U.S. President Joe Biden addresses Morehouse College graduates during a commencement ceremony in Atlanta, Georgia, U.S., May 19. Biden's commencement address at Morehouse comes as recent polling has showed Black voters, especially young ones, have weakening enthusiasm for the president. Meanwhile, former President Donald Trump's support from Black voters has increased by 9 percentage points. But Biden still has the majority of support among Black voters, at 69% vs. Trump's 18%. Vice President Kamala Harris has spent years reaching out to Black voters over the course of Biden's first term.
Persons: Joe Biden, Morehouse, Donald Trump's, Biden, Biden's, Sebastian Gordon, Kamala Harris, Wally Adeyemo, Steven Horsford, Harris, Adeyemo Organizations: Morehouse College, Morehouse, Black, NBC, NBC News, White House, Georgia, NAACP, state's Democratic, Biden Locations: Atlanta , Georgia, U.S, Gaza, Black, Atlanta, Israel, Detroit, Nevada, Wisconsin
Associate Supreme Court Justice Clarence Thomas arrives for the swearing-in ceremony of Neil Gorsuch as an Associate Supreme Court Justice in the Rose Garden of the White House, Washington, D.C., April 10, 2017. Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome. The letter to Thomas's lawyer, dated Tuesday, raises questions about potential tax violations by the conservative justice, who is the longest-serving member of the Supreme Court. Democrats point to reports that his wife, Ginni Thomas, took part in efforts to overturn the results of the 2020 election. The Supreme Court heard arguments in Trump's immunity appeal on April 25, with Thomas on the bench.
Persons: Clarence Thomas, Neil Gorsuch, Ron Wyden, Sheldon Whitehouse, Thomas, Anthony Welters, Prevost Le, Wyden, Elliot Berke, Whitehouse, Justice Thomas, Welters, Berke, ProPublica, Harlan Crow, Harlan, Donald Trump, Ginni Thomas Organizations: Justice, White House, D.C, New York Times, Finance Committee Locations: Rose, Washington, Welters
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22. President Joe Biden on Wednesday challenged former Donald Trump to two head-to-head debates before the November election, with several special conditions. Both proposed showdowns would be held without the involvement of the non-partisan commission that typically organizes presidential debates. "Just tell me when, I'll be there," wrote Trump. " During the 2020 debates, Biden and Trump regularly broke out into shouting matches as they each tried to get a word in edgewise.
Persons: Donald Trump, Joe Biden, Biden, Trump, Donald, Jen O'Malley Dillon, O'Malley Dillon, Trump's, Robert Kennedy Jr, doesn't Organizations: Democratic, Belmont University, Wednesday, Republican, CNN, Republican National Convention, Democratic National Convention, White, New York Times, American People Locations: Nashville , Tennessee, Democratic, York, Pennsylvania, Michigan, Wisconsin, United States
The Department of Justice on Wednesday announced the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds. DOJ called it a "first-of-its kind" fraud, detailing the seconds-long scheme where the brothers allegedly manipulated the Ethereum blockchain to redirect pending transactions and steal $25 million. "As we allege, the defendants' scheme calls the very integrity of the blockchain into question," said U.S. Attorney Damian Williams for the Southern District of New York in a statement. Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested on Tuesday for charges of wire fraud and money laundering. The Pepaire-Bueno brothers studied math and computer science "at one of the most prestigious universities in the country," according to the DOJ.
Persons: Damian Williams, Anton Peraire, James Pepaire, Bueno Organizations: Justice, Wednesday, DOJ, Southern, of Locations: cryptocurrency, of New York
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.
Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China
Mark Gitenstein, the U.S. ambassador to the EU, said China is deliberately distorting markets with a glut of cheap goods. Speaking to CNBC's Silvia Amaro on Tuesday, Gitenstein said China was "engaged in a deliberate effort to undermine economic sectors in both Europe and the United States." The Chinese Embassy in London did not immediately respond to a request for comment when contacted by CNBC. It comes amid growing concerns over a raft of cheap Chinese "green" goods — such as EVs, batteries and solar panels — flooding international markets. White House officials have already warned Beijing to amend certain trade practices that it argues have weakened global supply chains.
Persons: Mark Gitenstein, CNBC's Silvia Amaro, Gitenstein, Biden, Ursula von der Leyen, Charles Michel, — CNBC's Rebecca Picciotto Organizations: Embassy, CNBC, White, European Commission, European Locations: U.S, China, Europe, United States, London, Beijing, People's Republic of China, PRC
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersThe Biden administration has announced $537 billion in infrastructure investments since the passage of landmark government funding bills, such as the Bipartisan Infrastructure Law, CHIPS Act and the Inflation Reduction Act. New state-by-state White House data released Monday offers a holistic portrait of how President Joe Biden has so far doled out that funding across the country. Several of the biggest awards went to battleground states that will be pivotal to the 2024 presidential election. US President Joe Biden visits the John A. Blatnik Memorial Bridge in Superior, Wisconsin, on January 25, 2024.
Persons: Joe Biden, Kevin Lamarque, Biden, Natalie Quillian, Mandel Ngan, Donald Trump, John A, Saul Loeb Organizations: Gateway Technical College, Reuters, Infrastructure Law, White, House, AFP, Getty Images, Trump, Commerce Department, Treasury Department, Federal Communications Commission, Law, Getty Locations: Sturtevant , Wisconsin, U.S, California, Texas, York, Florida, Pennsylvania, Illinois, Arizona, Maryland, Ohio, Michigan, Fern, Pittsburgh , Pennsylvania, Getty Images Pennsylvania, . Georgia, Superior , Wisconsin
Ambassador to the United Nations Nikki Haley (L) and Former U.S. President and Republican presidential candidate Donald Trump, campaigning in New Hampshire on Jan. 23rd, 2024. Donald Trump on Saturday made it clear that former Republican presidential candidate Nikki Haley is not on his running mate shortlist, quieting rumors that his campaign had been considering her as an option. The comment came several hours after Axios reported that Haley was in the Trump campaign's vice president conversation, citing two anonymous sources. Haley's wealthy donor base could help Trump make up his fundraising problems, which are compounded by legal fees related to several ongoing lawsuits. "Now when I say that, that probably means that she's not going to be chosen as the vice president."
Persons: Nikki Haley, Donald Trump, Axios, Haley, Trump, Joe Biden's, Elise Stefanik, Sen, Tim Scott, Marco Rubio, Doug Burgum, Kristi Noem, Kim Jong, Trump's Organizations: U.S, United, Former U.S, Republican, Jan, Trump campaign's, Trump, GOP, North Dakota Gov, Doug Burgum . South Dakota Gov, North, Wisconsin Locations: New Hampshire, Doug Burgum ., North Korean
People visit St Mary's lighthouse in Whitley Bay to see the aurora borealis, commonly known as the northern lights, on May 10, 2024 in Whitley Bay, England. Skywatchers gathered to witness and snap photos of the aurora borealis, typically only visible in high north latitudes. This time, however, it stretched as far south as Louisiana due to the supercharge of some intense sun eruptions. On Thursday, the National Oceanic and Atmospheric Administration issued its first severe geomagnetic storm warning since 2005, serving as a heads-up about Friday's skylight show. Here is what the aurora looked like around the world:
Organizations: National Oceanic, Atmospheric Administration Locations: Mary's, Whitley Bay, Whitley Bay , England, Louisiana
Securities and Exchange Commission Chair Gary Gensler on Tuesday refused to comment on speculation of whether Trump Media is a funding organ for Donald Trump's presidential campaign. "What's important is that their disclosures are accurate and that folks aren't in the market front-running or trading on insider information." As the majority shareholder, Trump stands to gain the largest financial boost from DJT upswings. On Friday, Trump's stake added 36 million more shares to his existing 78.8 million, due to a clause in the company's contract that unlocks bonus shares as the stock hits certain checkpoints. Given that bump, Trump's stake had a paper value of over $5 billion at Tuesday's market open.
Persons: Gary Gensler, Donald Trump's, I'm, Gensler, Trump, upswings, Trump's Organizations: Securities, Exchange, Trump Media, Nasdaq, Trump
US President Joe Biden speaks about his Investing in America agenda at the Wilmington Convention Center in Wilmington, North Carolina, on May 2, 2024. President Joe Biden is set to meet Tuesday afternoon with a slate of executives from a variety of industries, some of which have been the targets of his regulatory agenda. The guest list includes United Airlines CEO Scott Kirby, Citi CEO Jane Fraser, Evercore founder and senior chairman Roger Altman, Marriott International CEO Anthony Capuano, Flex CEO Revathi Advaithi, Bechtel Group CEO Brendan Bechtel, former Xerox CEO Ursula Burns and Corning CEO Wendell Weeks, according to a White House official. Biden is planning to discuss his "strategy of investing in America and rebuilding international alliances," the official said in a statement. And as part of a broader siege against what Biden calls "junk fees," the White House has issued rules prohibiting certain fees from airlines and credit card companies.
Persons: Joe Biden, Scott Kirby, Jane Fraser, Roger Altman, Anthony Capuano, Revathi Advaithi, Brendan Bechtel, Ursula Burns, Corning, Wendell Weeks, Biden Organizations: Wilmington Convention, United Airlines, Citi, Marriott International, Flex, Bechtel, Xerox, White, Federal Trade Commission, Department Locations: Wilmington, Wilmington , North Carolina, America
Hamas said it told Egyptian and Qatari negotiators that it has approved a cease-fire proposal to halt the war in Gaza. Israel is examining the proposal that Hamas approved and has not confirmed whether it would accept or reject it, an Israeli official told NBC News. Hostage release negotiations intensified over the weekend, with facilitation from U.S. CIA Director William Burns, alongside mediators from Egypt and Qatar. U.S. officials have repeatedly warned Israel against an offensive in Rafah, where millions of civilians have taken refuge. President Joe Biden reiterated that stance on a half-hour Monday call with Israeli Prime Minister Benjamin Netanyahu, which took place before Hamas had announced its approval of a cease-fire proposal.
Persons: Ismail Haniyeh, Ashraf Amra, Daniel Hagari, Matthew Miller, William Burns, Burns, Joe Biden, Benjamin Netanyahu Organizations: Hamas, Anadolu, Egyptian, Qatari, NBC, Israel Defense Forces, Department, NBC News, CIA, Israeli Locations: Palestinian, Sakura, Istanbul, Turkiye, Gaza, Israel, Egypt, Qatar, Arab, Gaza's, Rafah
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Republican South Dakota Gov. Kristi Noem implied that President Joe Biden's dog, Commander, should meet the same ill fate as her own 14-month-old dog Cricket, who she shot due to its aggressive behavior, as she revealed in her upcoming memoir. "Joe Biden's dog has attacked 24 Secret Service people. In the days since Noem's memoir anecdotes went public, the South Dakota governor has been doing damage control to save her VP bid.
Persons: Kristi Noem, Joe Biden's, Noem, Biden, vies, Donald Trump's, Newt Gingrich, Donald Trump Organizations: NRA, ILA, National Rifle Association, Republican South Dakota Gov, Cricket, CBS, Secret Service, South Locations: Houston , Texas, U.S, White, South Dakota
Atkeson, a political scientist who researches election surveys and public opinion, has been conducting voter polls since 2004. She is currently a professor at Florida State University and has authored several books. "People were not answering their phones," Rachael Cobb, a political science professor at Suffolk University, told CNBC. Polarization and technology are among the obstacles that pollsters cite as complicating the task of taking accurate voter surveys. As a result, over the past several election cycles, polling organizations have made some major mistakes.
Persons: Ron DeSantis, Donald Trump, Nikki Haley, Lonna Atkeson, Atkeson, Rachael Cobb Organizations: Florida, Republican, Florida State University, CNBC, Suffolk University Locations: Loudon , New Hampshire
(Photo by Danny Lee/South China Morning Post via Getty Images)The Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver. He came to be known as "Bitcoin Jesus," for getting in early on the digital currency and making a fortune. The DOJ alleges that in preparing those tax filings, Ver underrepresented his bitcoin holdings and evaded taxes on them. The United States is seeking his extradition to face trial on eight counts related to tax evasion, mail fraud and filing false tax returns. According to the indictment, the IRS used a strategy called "clustering analysis" to track the blockchain and identify Ver's bitcoin transactions.
Persons: Roger Ver, Danny Lee, Ver, Bryan Skarlatos, bitcoin Organizations: South China Morning, Getty, Justice Department, Internal Revenue Service, DOJ, CNBC, eBay, IRS Locations: South, California, Caribbean, St, Kitts, Nevis, U.S, Spain, United States, Pest
Scott Olson | Getty Images News | Getty ImagesFormer President Donald Trump is building a second-term economic agenda that analysts say could reheat the very inflation that he has slammed President Joe Biden for creating. We have a ring around the country," Trump said in a TIME interview released Tuesday, referring to aggressive tariffs he has promised to impose in a second term. Yet economists and Wall Street analysts agree that these plans would likely drive consumer prices higher. "A second Trump term could bring higher tariffs, attempts to weaken the dollar, even higher deficits, deportation of illegal immigrants, and other policies that could put upward pressure on inflation," Piper Sandler analysts wrote last week. Reached for comment, the Trump campaign said, "under President Trump, inflation was non-existent, gasoline was cheap, groceries were affordable, and the American Dream was alive and well."
Persons: Donald Trump, Scott Olson, Joe Biden, Trump, Jay Powell, Piper Sandler, Donald Trump's, Paul Ashworth, Wells Organizations: Clinton Middle School, Getty, Wall Street, Trump, Federal, Wall, Capital Economics, North, U.S ., Wells Locations: Clinton , Iowa, China, Mexico, South Carolina, North America
Biden's new policy is largely a rewrite of the Obama administration's rule to safeguard U.S. critical infrastructure called the Presidential Policy Directive, or PPD-21, which was published in 2013. The effort to redraft that Obama-era infrastructure policy began over a year ago, in part to modernize it and keep up with hackers who have benefited from over a decade of technological advancement. The Biden administration has warned China not to help Russia in its invasion of Ukraine, or else the U.S. would be ready to act with sanctions. "We're aware now of the serious Chinese threat to our critical infrastructure, specifically prepositioning to disrupt or destroy critical infrastructure in the event of a major crisis," a senior administration official said. "The presidential policy directive that was created in 2013 didn't mention anything about CISA's role because we weren't created yet," a senior administration official said.
Persons: Joe Biden, Obama, cyberattacks, Christopher Wray, congressmembers, Wray, Biden's, Biden Organizations: White, Washington , D.C, Directive, FBI, Taiwan, of Homeland Security, Infrastructure Security Agency Locations: Washington ,, China, Russia, Ukraine, U.S, Taiwan
South Dakota Governor Kristi Noem greets former U.S. President and Republican presidential candidate Donald Trump before he speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Republican South Dakota Governor Kristi Noem on Sunday attempted to spin a controversial anecdote about killing her puppy, revealed in her upcoming memoir, into a case for her political deftness as she vies to become Donald Trump's vice presidential pick. Noem has spent the weekend dealing with ridicule from both Democrats and Republicans since those anecdotes became public. Florida Governor and former GOP presidential candidate Ron DeSantis posted a call to action for people to adopt rescue dogs. In March, the South Dakota governor posted an infomercial-style video for a Texas dentist appearing to act as a commercial testimony for the business, despite holding public office.
Persons: Kristi Noem, Donald Trump, Donald Trump's, Noem, Doug Burgum, Tim Scott, Elise Stefanik, Laura Loomer, Loomer, Joe Biden's, Biden, Kamala Harris, Ron DeSantis Organizations: Republican, South, South Dakota Republican, Republican South, Guardian, Cricket, North, Florida Governor, GOP Locations: South Dakota, Rapid City , South Dakota, U.S, Republican South Dakota, North Dakota, Florida, Washington, Texas
Biden signs Israel, Ukraine, TikTok bill into law
  + stars: | 2024-04-24 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +1 min
US President Joe Biden speaks after signing the foreign aid bill at the White House in Washington, DC, on April 24, 2024. President Joe Biden on Wednesday signed into law measures to provide aid to Israel, Ukraine and Taiwan, as well as force Chinese TikTok parent company ByteDance to sell the social media platform. It should have been easier and it should've gotten there sooner," Biden said Wednesday after signing the bill. Biden had signaled his intention to sign the bill into law after the House passed the proposal on Saturday. The law earmarks roughly $60 billion in aid for Ukraine, $26 billion for Israel and $8 billion for security in Taiwan and the Indo-Pacific.
Persons: Joe Biden, should've, Biden, TikTok Organizations: White, Capitol, Senate Locations: Washington ,, Israel, Ukraine, Taiwan, America, U.S
The U.S. Chamber of Commerce and several other business groups on Wednesday sued the Federal Trade Commission in Texas federal court over the commission's vote to ban noncompete clauses, which are used to block employees from leaving to work for competitors in the same industry. On Tuesday, the FTC voted to enact the ban on the basis that noncompete clauses stifle the efficiency of the labor market, hinder competition and can lead to higher prices for consumers. The business groups claimed that the FTC's ban, "breaks with centuries of state and federal law." In addition to the Chamber of Commerce, the Business Roundtable, Texas Association of Business and Longview Chamber of Commerce are all plaintiffs in the suit. The FTC suggested that instead of relying on noncompete clauses, companies should look to other safeguards of information, like nondisclosure agreements.
Persons: Lina Khan, Douglas Farrar Organizations: House Energy, Commerce, U.S . Chamber of Commerce, Wednesday, Federal Trade Commission, Federal, U.S . Chamber, Eastern District of Texas, Chamber of Commerce, Business Roundtable, Texas Association of Business, Longview Chamber, FTC, CNBC Locations: Texas, Eastern District
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