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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPresident-elect Trump is the most pro-stock market president in history: Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss President-elect Trump's election victory, the impact on markets and the economy, independence of the Fed, and more.
Persons: Trump, Wharton's Jeremy Siegel Jeremy Siegel, Trump's Organizations: University of Pennsylvania’s Wharton School of Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA split Congress is probably the favorite for the markets, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the state of the 2024 election, the potential impact on markets, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
New York CNN —The last three years have upended everything about the way we expect the economy to work. But the pandemic-era inflationary period played out unlike any other in history, and wealthy people made out like bandits. And that may be because the only real inflation we’ve seen in decades was a multi-year profit bonanza for them. And that has provided a permission structure for some wealthy Trump supporters to shrug their shoulders at his inflationary economic agenda. But it won’t be the same flavor of profit-driven inflation we’ve seen over the past three years.
Persons: CNN Business ’, That’s, Donald Trump’s, “ It’s, , Kent Smetters, , we’ve, ” It’s, He’s, Harris, Josh Bivens, Bivens, ” Bivens Organizations: CNN Business, New York CNN, Wall, University of Pennsylvania’s Wharton School, Trump, Wall Street Journal Locations: New York, Ukraine
“It kept these players alive that couldn’t survive in normal situations.”Competition from juggernauts like Amazon, Walmart, Costco, Home Depot and other big-box retailers has also squeezed smaller chains. In 2017 and 2018, retailers closed a combined 13,400 stores, according to Coresight. Retailers closed a record 9,800 stores in 2019. Around 9,700 stores closed in 2020, according to Coresight. Drug store chains are also shrinking.
Persons: , , Michael Brown, Kearney, ” Brown, Barbara Kahn, Charlotte Russe, Shopko, Ted Decker, Joann Fabric, Denny’s, Kelli Valade, Justin Sullivan, Amazon’s, It’s, ” Kahn, TJ Maxx, TJX Organizations: New, New York CNN, Walgreens, Research, Companies, Consumers, , Walmart, Costco, Home, ” Retailers, United, University of Pennsylvania’s Wharton School, Coresight, Retailers, Sears, P Global Market Intelligence, CVS, Aid, Marshalls, Aldi Locations: New York, , Amazon, United States, Gymboree, JCPenney, Tijuana, HomeGoods
A mid-October poll by The Associated Press measured which of the two candidates voters trust on a variety of economic issues. Harris’ campaign declined to say where she wants to set the federal minimum wage, which is currently $7.25 per hour. Former President Donald Trump answers questions as he works the drive-thru line at a McDonald's on Oct. 20 in Feasterville-Trevose, Pa. “Donald Trump is running on a middle-class tax hike, Kamala Harris is running on a middle-class tax cut,” Harris campaign spokesperson James Singer said. “Working families like rank-and-file Teamsters overwhelmingly support President Trump because only he will Make America Wealthy, Strong, and Great Again.”
Persons: Donald Trump’s, Kamala Harris, Harris, Trump, , Kent Smetters, Sen, Chris Caldwell, Harris ’, Smetters, , hasn’t, Joe Biden, Donald Trump, Win McNamee, “ Donald Trump, ” Harris, James Singer, , Anna Kelly Organizations: Biden, Tufts University, Trump, University of Pennsylvania’s Wharton School, Daily, Wharton, Democratic, The Associated Press, Voters, Bureau of Labor Statistics, Economic, Institute, Republican National, Teamsters, America Locations: Pennsylvania, McDonald’s, Las Vegas, U.S, Arizona, Feasterville, Pa, China, Communist
Experts noted then, as they note today, that high costs and complex logistics make mass deportation more complicated than campaign promises suggest. Immigrants deported from the United States arrive in Guatemala City on an ICE deportation flight on February 9, 2017. John Moore/Getty ImagesSo what would deporting the millions of undocumented immigrants living in the United States cost? The organization also argues that mass deportation would make more jobs available for Americans. The economic impact of mass deportation, he says, would amount to “utter disaster.”“We Americans, we, the country, we, in our communities, would be significantly damaged,” he says.
Persons: Donald Trump, he’ll, he’s, Trump, they’ve, Tom Homan, Stephen Miller, JD Vance, he’d, Biden, , John Sandweg, Obama, ” Trump, wasn’t Trump, “ It’s, Laura Collins, George W, Sandweg, John Moore, Collins, Miller, Jason Houser, , Houser, “ That’s, ” Collins, , you’re, ” Sandweg, they’re, ” Houser, it’s, “ They’re, who’d, , Lisa Sherman Luna, Saul Young, Michael Ettlinger, Zeke Hernandez, Hernandez, that’s Organizations: CNN, Republican National Convention, Customs, Trump, Migration, ICE, Bush Presidential, Immigrants, American Action, American Immigration, Pew Research Center, of Homeland Security, Syracuse University, Department of Homeland Security, Migration Policy, MPI, Pew Research, Tennessee, Refugee Rights Coalition, Community, Knoxville News Sentinel, USA, Carsey School of Public, University of New, Taxation, University of Pennsylvania’s Wharton School, Federation for American Immigration Reform Locations: United States, United, Guatemala City, China, Cuba, India, Russia, Venezuela, Mississippi, Tennessee, Morristown , Tennessee, University of New Hampshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect a 3-handle on the Fed funds rate by the middle of next year, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the state of the economy, what to expect from the September CPI data, impact on the Fed's inflation fight, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
But now, as the dangers of a widening deficit and mounting debt grow, former President Donald Trump and Vice President Kamala Harris are making little effort to address it. A budget deficit occurs when a country’s spending exceeds what it collects in revenue, primarily through taxes. The deficit is expected to widen under the status quo and could get even worse under proposals by both Harris and Trump, if enacted. During the Trump-Harris presidential debate earlier this month, the budget deficit was mentioned just twice, when Harris jabbed Trump for his proposals, which are expected to add considerably more to the deficit than hers. In the 2021 fiscal year, during which Trump left office, the country ran a $2.8 trillion deficit.
Persons: Donald Trump, Kamala Harris, Harris, Trump, Jerome Powell, “ It’s, ” Powell, Harris jabbed Trump, , Maya MacGuineas, , Barack Obama, we’ve, I’ve, Obama, Mitt Romney, ” Obama, Romney, Hillary Clinton, Powell, MacGuineas, There’s, Kent Smetters, aren’t Trump, Smetters, aren’t Organizations: New, New York CNN, White, Trump, Republican, Democratic, Congressional, CNN, University of Pennsylvania’s Wharton School, Penn Wharton Budget, , Republicans, Democrats, Locations: New York, China, Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis was the best news I've heard from the Fed in years, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the Fed's interest rate decision, why he was 'pleasantly surprised' by the 50 basis point cut, rate path outlook, and more.
Persons: I've, Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
New York CNN —It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN that 100% tariffs would threaten the economy. It’s possible he is floating 100% tariffs as just a threat designed to change the behavior of other countries. ‘No question it’s inflationary’The Trump campaign did not provide an explanation to CNN about how Trump would implement 100% tariffs nor what the trigger would be. He said Trump’s tariff plan, if enacted, would risk setting off a market panic like former UK Prime Minister Liz Truss did in 2022.
Persons: New York CNN —, Donald Trump, Trump, ” Trump, , you’re, ” Maury Obstfeld, Obstfeld, ” Obstfeld, Christine McDaniel, George W, Bush, , McDaniel, George Mason University’s, Alex Durante, ” Durante, Brian Hughes, ” Hughes, , Harris, Kamala Harris, ” Kent Smetters, Smetters, Wharton “, it’s, ” Wharton, Liz, Joe Brusuelas, ” “ I’m, Joe Biden, Biden, Brusuelas, Liz Truss, Matt Priest, Trump’s Organizations: New, New York CNN, Peterson Institute for International Economics, CNN, International Monetary Fund, Trump, United States Trade Representative, Commerce Department, Tax Foundation, University of Pennsylvania’s Wharton School, Penn Wharton Budget, Wharton, ABC, RSM, Democratic, Footwear Distributors, Retailers of America Locations: New York, Wisconsin, United States, China, Russia, , American
(And in doing so, gave rise to a generation of hilarious “That’s why, for this pride month, I’ve partnered with” memes. But more damaging than the cringe of a tone-deaf tweet about diversity is when companies give up on the performance altogether. This week, Molson Coors, a longtime sponsor of Pride events and partner to LGBTQ+ nonprofits, joined the list. A Molson Coors representative declined to comment beyond the memo. Coors Light may have looked at its rival getting pummeled by right-wing pundits and feared being the next target.
Persons: CNN Business ’, Kendell Jenner, I’ve, John Deere, Davidson, Molson Coors, Coors, Robby Starbuck, , Nathaniel Meyesohn, Starbuck, George Floyd, Bud Light, Cait Lamberton, , you’ve, pummeled, they’re, Tom Sebok, Molson, Sebok Organizations: CNN Business, New York CNN, Pepsi, Harley, Tractor Supply, Molson Coors, Molson, Human Rights, Coors, DEI, University of Pennsylvania’s Wharton School of Business, The New England Consulting Locations: New York, America, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs to make an emergency cut, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, why he's calling for emergency rate cuts from the Fed, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
But it can really, really help. To do that, I collect large-scale data in the course of people’s everyday lives … That’s kind of the 100,000-foot view. And I think that’s the kind of thing that doesn’t really stop at any magic threshold. I think people need to think about this more of kind of like a happiness portfolio. And oh, by the way, getting some daily exercise, not living in an environment that’s really polluted, that would be good.
Persons: CNN Business ’, there’s, Matt Killingsworth, Mo, Killingsworth, jk, I’ve, Reagan, we’re, it’s, don’t Organizations: CNN Business, New York CNN, University of Pennsylvania’s Wharton School Locations: New York, what’s
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou're not going to get value moving until the Fed drops rates, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, what to expect from June's PCE inflation data today, impact on the Fed's interest rate decision, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWharton's Jeremy Siegel: No way Democrats can hold the Senate if Trump wins the presidencyJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the impact of the assassination attempt of former President Trump on markets, 2024 presidential election, down ballot races, and more.
Persons: Jeremy Siegel, Trump Organizations: Trump, University of Pennsylvania’s Wharton School of Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed should definitely cut after 'game-changing' June CPI data, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, what to make of the key inflation data this week, impact on the Fed's rate path outlook, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
But now “you can have it all happen instantly across the whole country.”Success strikes twiceThis isn’t even the first time little Trader Joe’s bags have gone viral. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. A Trader Joe's mini tote bag is shown in Palmyra, N.J., on Wednesday, March 13, 2024. “It’s always a surprise.”The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.
Persons: Thaddeus Yan, Joe’s, Yan, Stanley, , Colin Campbell, Joe doesn’t, Talia Heskett, Joe’s Talia ”, Heskett, She’s, Christy Vetere, , Tara Miller, “ I’m, Christina Paciolla, Matt Sloan, Miller, Joe’s hasn’t, Jonah Berger, ” Berger, Lindsey Nicholson, G Yan, “ It’s, TikToker Heskett Organizations: New, New York CNN, eBay, University of San, Facebook, , tote, CNN, University of Pennsylvania’s Wharton School, Nike, Variety, Trader Joes, Getty, G Locations: New York, London, University of San Diego’s, Vetere, Palmyra, N.J, Queens , New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are 'very favorable signs' inflation will come down, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, Fed Chair Powell's commentary, interest rate outlook, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
That’s why Fed Chair Powell conveyed on Tuesday the central bank won’t be cutting interest rates any time soon. How would the US economy handle more months of painstakingly high interest rates? Investors are banking on cutsWhen Fed officials initially penciled in three rate cuts at the end of last year, markets hit new highs. But the longer the Fed leaves interest rates higher means more pain could be inflicted on households and businesses, said Goldstein. But not everyone thinks cracks in the economy will widen if the Fed doesn’t cut rates this year.
Persons: Powell, ” Powell, paring, Itay Goldstein, Tesla, Goldstein, , Brian Rose, David Mericle, Goldman Sachs Organizations: New, New York CNN — Federal Reserve, Bank of Canada, Tiff, Investors, Dow, Nasdaq, University of Pennsylvania’s Wharton School of Business, CNN, Fed, Treasury, UBS Global Wealth Management Locations: New York
Why Corporate America is keeping quiet on abortion
  + stars: | 2024-04-16 | by ( Allison Morrow | ) edition.cnn.com   time to read: +8 min
New York CNN —Eight years ago, when North Carolina tried regulate how transgender people use public bathrooms, Corporate America revolted. Nearly two dozen states have either banned or severely curtailed abortion rights since Roe v. Wade was overturned two years ago. Lamberton: What we’ve seen is the natural life cycle of an idea. But in the last few years, we’ve seen that position softening. Economically, we’ve seen a great deal of volatility just in the last half decade.
Persons: CNN Business ’, Roe, Wade, we’ve, Bud, Cait Lamberton, ” Lamberton, , Lamberton, We’ve, Bud Light, Busch, isn’t, it’s, they’re, John Wanamaker Organizations: CNN Business, New York CNN —, America, PayPal, Associated Press, , American Civil Liberties Union, University of Pennsylvania’s Wharton School of Business, Consumers, Anheuser, Bud, Brands, Coca Cola, Companies, Technology Locations: New York, North Carolina, Ukraine, Georgia, Philadelphia
So how does CEO Dave Calhoun still have a job? Boeing said it is working closely with regulators’ investigations and has plans in place to improve safety measures at its production facilities. Boeing’s 737 Max problems would be egregious enough on its own. But Dave Calhoun, Boeing’s chief executive since 2020, remains in his job, as does the entire C-suite at the time of this writing. Boeing hired Calhoun to right the ship.
Persons: New York CNN —, Dave Calhoun, “ It’s, ” Richard Aboulafia, , Max, John Barnett, Barnett’s, , Calhoun, ’ ”, Aboulafia, McDonnell Douglas, , ” Aboulafia, Boeing hasn’t, haven’t, ” Gad Allon, Allon isn’t Organizations: New, New York CNN, Boeing, ” Boeing, Airbus, CNN, University of Pennsylvania’s Wharton School of Business Locations: New York, Australia, New Zealand, Calhoun
How do we solve a problem like Boeing?
  + stars: | 2024-03-13 | by ( Allison Morrow | ) edition.cnn.com   time to read: +6 min
New York CNN —It took decades for Boeing to build a reputation as one of the most reliable companies on the planet. The latest headache for Boeing came Monday, when a 787 Dreamliner flying from Australia to New Zealand plunged suddenly mid-flight, injuring several passengers. It’s not clear what, if any, culpability Boeing has here — it said it’s gathering information about what went wrong. So, how do we solve a problem like Boeing? “This can be really as big as a financial crisis,” considering how many businesses around the world rely on Boeing planes.
Persons: CNN Business ’, Tesla, Brian Jokat, it’s, can’t, ” Gad Allon, , ” Allon isn’t, Matt Stoller, ” Stoller, that’s, “ There’s, ” Allon Organizations: CNN Business, New York CNN, Boeing, American, Regulators, Latam Airlines, CNN, Wall Street Journal, FAA, Airbus, Pilots, University of Pennsylvania’s Wharton School of Business, American Economic Liberties, Boeing isn’t Locations: New York, Australia, New Zealand, American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNo hurry for the Fed to lower rates 'as long as the economy remains strong': Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's rate path outlook, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: Fed, University of Pennsylvania’s Wharton School of Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed can't be 'anywhere near as stubborn' when it comes to rate cuts: Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business, joins 'Squawk Box' to discuss the latest market trends, whether major averages can continue riding the five-week win streak, the Fed's rate hike outlook, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed should 'start talking' about lowering rates, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, 2024 outlook, and more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business
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