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CNN —President Joe Biden’s campaign effort brought in $53 million in February, a sign of accelerating donor interest over a month that saw the election rematch crystalize between Biden and former President Donald Trump. The figure, which includes funds from Biden’s campaign, the Democratic National Committee and related joint fundraising committees, contributed to the $155 million Biden’s effort had in the bank at the end of February. Biden’s fundraising efforts in February included a three-day swing in California that was expected to raise as much as $10 million. In all, the Biden campaign says it has received donations from 1.3 million donors since the start of the campaign last year, with 97% coming in under $200. February was the strongest grassroots fundraising month so far, the campaign said.
Persons: Joe Biden’s, crystalize, Biden, Donald Trump, Jill Biden, Robert Hur’s, Barack Obama, Bill Clinton, you’ve, , Rob Flaherty, Biden’s, Flaherty, Organizations: CNN, Democratic National Committee, Democratic, Trump, Air Force, Republican, Biden, GOP Locations: Nevada, Arizona, California, South Carolina
Read previewPresident Joe Biden's cognitive abilities may be better than some say they are — at least according to two AI chatbots. Some who analyzed it said Hur's claims about Biden's memory issues were overstated. And both chatbots' verdicts were that Biden's cognitive abilities are just fine. "These aspects are essential indicators of cognitive abilities and suggest that he could perform cognitively demanding tasks during the interview." AdvertisementWhen it came to Biden's memory, ChatGPT found that he displayed memory recall by describing interactions and processes related to handling classified documents with context.
Persons: , Joe Biden's, Robert Hur, Hur, Biden, Beau, Beau died, Claude Pro, ChatGPT, Claude, Anthropic, didn't, Axel Springer Organizations: Service, Business, CNET
Hunter Biden, the president’s son, on Wednesday rejected a request from House Republicans to testify next week at a public hearing in their impeachment inquiry into President Biden, blasting the G.O.P.’s plans as a “made-for-right-wing-media circus act.”House Republicans had asked the younger Mr. Biden to appear at a hearing on March 20 alongside three of his former business partners. Two of them have been convicted in fraud cases, and the other is angry over being cut out of a deal. But Abbe Lowell, Mr. Biden’s lawyer, cited a scheduling conflict while slamming the proceeding in a letter to Representative James R. Comer, Republican of Kentucky, the chairman of the Oversight Committee. “Your blatant planned-for-media event is not a proper proceeding but an obvious attempt to throw a Hail Mary pass after the game has ended,” Mr. Lowell wrote, adding: “Mr. Biden declines your invitation to this carnival side show.”
Persons: Hunter Biden, Biden, Abbe Lowell, Biden’s, James R, Comer, Mary, ” Mr, Lowell, Mr, Organizations: Republicans, , Republican Locations: Kentucky
Hunter Biden, son of President Joe Biden, makes a statement to the press outside the U.S. Capitol about testifying publicly to the House Oversight and Accountability Committee on Wednesday, December 13, 2023. Hunter Biden on Wednesday declined an invitation to testify in public next week as part of House Republicans' impeachment inquiry into President Joe Biden. Hunter Biden sat for a closed-door deposition with the GOP investigators on Feb. 28. Comer on March 6 had invited Hunter Biden to testify again on March 20, this time in a public hearing titled, "Influence Peddling: Examining Joe Biden's Abuse of Public Office." That invitation came weeks after federal authorities arrested and charged Alexander Smirnov, a former FBI informant, with lying to the government about Joe and Hunter Biden.
Persons: Hunter Biden, Joe Biden, Abbe Lowell, James Comer, Lowell, Mary, Comer, Joe Biden's, Alexander Smirnov Organizations: U.S, Capitol, Republicans, Democratic, GOP, Public Office, FBI Locations: Ky
They were there to talk about classified documents, but somehow President Biden’s mind had turned to Mongolia. Something about being handed a bow and arrow during a visit and embarrassing his host. “Pure luck, I hit the goddamn target,” Mr. Biden recalled. Mr. Biden described giving an oration in law school on a case he had not read and lying his way into an exclusive club in Delaware. He recounted his time with President Barack Obama and trying to “save his ass” from manipulative generals.
Persons: Biden’s, Mr, Biden, , Barack Obama, Robert K, Hur, Richard M Organizations: Mr Locations: Mongolia, Mongolian, Delaware
President Joe Biden clinched the Democratic presidential nomination Tuesday, NBC News projects, winning a majority of the necessary delegates and setting up what is expected to be a bitter, closely contested rematch with Donald Trump. By clearing the field for the 81-year-old Biden, Democrats have gambled that he remains the party's best shot at defeating Trump one more time. The general election campaign opens with Biden an underdog against an opponent who historians have ranked as the worst president in the nation's history. He ran for the party's nomination in 1988 and again in 2008 and never made headway with rank-and-file Democratic voters. Through sheer persistence, he is now finishing a presidential term while wrapping up his second party nomination in a row.
Persons: Joe Biden, Donald J, Trump, Donald Trump, Biden, Govs, Gavin Newsom, Gretchen Whitmer, , Liano Sharon, parry, Marc Morial, Sen, Claire McCaskill, Beau's, Barack Obama's, Obama, Hillary Clinton, John Kerry, Al Gore, Edward M, Kennedy Organizations: United, Former U.S, YMCA Allard Center, Democratic, NBC News, Biden, Trump, Democratic National Committee, parry Republicans, State, Union, National Urban League, Israel, Office Locations: Goffstown , New Hampshire, United States, Michigan, New Orleans, Israel, Gaza, South Carolina
When President Biden declared over the weekend that he was drawing a “red line” for Israel’s military action in Gaza, he appeared to be trying to raise the potential cost for Prime Minister Benjamin Netanyahu as their relationship plummets to new depths. But he never said what would happen, exactly, if Mr. Netanyahu ignored him and continued Israel’s military operation by invading the southern city Rafah, a step that Mr. Biden has said — repeatedly — would be a major mistake. Mr. Biden’s line-drawing was immediately dismissed — and matched — by Mr. Netanyahu, who shot back: “You know, I have a red line. You know what the red line is? That Oct. 7 doesn’t happen again.” The prime minister was referring, of course, to the Hamas attack that killed 1,200 people in Israel, left scores more as hostages and precipitated a war now in its sixth month.
Persons: Biden, Benjamin Netanyahu, Netanyahu, , Barack Obama, George W, Bush, Iraq —, Biden’s Organizations: White Locations: Gaza, Rafah, Syria, North Korea, Iran, American, Iraq, Israel
But the transcript of Biden's interview, which was reviewed by NBC News, paints a more nuanced picture on both sides. At one point, Hur acknowledged that some of the questions he would ask would "relate to events that happened years ago." According to the review of the transcript, Biden at times expanded beyond the narrow subject areas of particular questions. In his opening statement, Hur planned to defend his investigation, the final report and his treatment of Biden's age. He also noted that some of the issues he was dealing with as vice president continue today.
Persons: Robert K Hur, Jabin, Robert Hur's, Joe Biden's, Biden, Hur, Beau Biden's, Beau's, Biden Biden, Israel, it's, Joe Biden, Evelyn Hockstein, Jim Jordan, James Comer, Hur's, Bob Bauer, Bauer, Richard Sauber, Joseph R, Beau, Tom Brenner, Beau Biden, I'm, hadn't, Trump, Mandel Ngan, They're, Benjamin Netanyahu, Barack Obama's, Obama, Pope Francis, Francis Organizations: White, Washington , D.C, Washington Post, Getty Images WASHINGTON, NBC, NBC News, Trump, Hamas, Pullman, Reuters, Republican, Capitol, White House, Justice Department, Biden III National Guard / Reserve, New, Penn Biden Center, Chamber, AFP, Getty Locations: Brady, Washington ,, Mongolia, Atlanta , Georgia, U.S, Ohio, Ky, New Castle, New Castle , Delaware, Penn, Virginia, Delaware, State, Israel, Afghanistan, Iran
which found evidence Biden willfully retained classified materials but that the evidence did not rise to the level of proof beyond a reasonable doubt. And he took on criticism directly over his inclusion of the state of Biden’s memory. On the Republican side, lawmakers pressed Hur on why he didn’t charge Biden despite the evidence of classified documents in Biden’s possession. “In short, to borrow a phrase from the last administration, the Hur report represents the complete and total exoneration of President Biden,” Nadler said. Hur found some evidence that Biden willfully retained classified materials after he left the Obama White House.
Persons: Robert Hur, Joe Biden’s, Hur, Biden, Donald Trump, Jim Jordan’s, Jerry Nadler, Jordan, misremembering, Trump, Viktor Orbán, ” Nadler, Jacquelyn Martin, AP Hur, ” Hur, , Robert Mueller, Mueller, Eric Swalwell of, ” Swalwell, isn’t, , Hank Johnson, Adam Schiff, ” Schiff, didn’t, I’m, ’ ”, Tom McClintock, Joe Biden, Biden “, Obama, “ Joe Biden, he’s, Mr, ” Jordan, Nadler, Biden’s, CNN’s Devan Cole, Hannah Rabinowitz, Holmes Lybrand, Evan Perez Organizations: Committee, Republicans, Biden, Trump, Rep, Department of Justice, Capitol, Democratic, Georgia Democrat, , California Democrat, Senate, Republican, California Republican, Democrat, Ohio Republican, Obama Locations: Egypt, Mexico, Hungary, Turkey, Washington ,, Russia, Eric Swalwell of California, Georgia, California, House, Ohio
Robert Hur, who had been appointed to investigate whether Biden mishandled classified documents, wrote that the president couldn’t recall in an interview with prosecutors the date when his adult son, Beau, died of cancer. And Biden recalled the specific date that Beau died, although he briefly wondered aloud about the year as the conversation toggled between various events. “Oh, God, May 30th.”A White House lawyer interjected by saying, “2015.”“Was it 2015 he had died?” Biden asked. Beau died while Biden was serving as vice president, and his deep sorrow helped deter him from running for president in 2016, when Trump ultimately defeated Hillary Clinton. Biden mentioned the death during an interview that Hur conducted on Oct. 8.
Persons: Joe Biden’s, Biden, Robert Hur, couldn’t, Beau, ” Biden, Hur, Hur didn't, , interjected, ” “, affirmatively, Donald Trump, Hunter, Trump, Hillary Clinton, , “ Beau, Hunt, ” Hur, ____, Zeke Miller Organizations: WASHINGTON, National Guard, Senate, Locations: Virginia, Iraq, Charlottesville , Virginia
Like all presidential budgets, Biden's 2025 plan is more of a wish list than it is a policy document. "Do you really think the wealthy and big corporations need another $2 trillion in tax breaks? Biden's populist, progressive, tax-the-rich funding plan is not a novel proposal from his White House. House Republicans tried to preempt Biden's budget proposal last week, by passing their own 2025 budget resolution in a party-line committee vote. Back-and-forth disagreements in Congress have meant that six months into the fiscal year, lawmakers have still not settled on a permanent budget.
Persons: Joe Biden, Joe Biden's, Donald Trump, Biden, Kevin McCarthy Organizations: Hylton Performing Arts Center, Capitol, Biden, White, Social Security, Republicans, Republican Locations: Manassas , Virginia, U.S, Washington
Biden wants to hire 2,000 air traffic controllers in 2025
  + stars: | 2024-03-11 | by ( ) www.cnbc.com   time to read: 1 min
US President Joe Biden delivers remarks at the National League of Cities Congressional City Conference in Washington, DC, on March 11, 2024. The Biden administration said Monday it is seeking funding from Congress to hire another 2,000 air traffic controllers in the 2025 budget year after a series of near-miss incidents. The Federal Aviation Administration is facing a persistent shortage of controllers that has caused flight delays and forced the FAA to extend cuts to minimum flight requirements at congested New York City-area airports through October 2024. At many facilities, controllers are working mandatory overtime and six-day work weeks to cover staffing shortages. The FAA wants $43 million to accelerate the hiring and training controllers.
Persons: Joe Biden, Biden Organizations: National League of Cities Congressional City Conference, Federal Aviation Administration, FAA Locations: Washington ,, New York City
“It is a red line, but I am never going to leave Israel,” Biden said. We’re not going to leave (Gaza),” Netanyahu said Sunday in an interview with German outlet Axel Springer. “You know, I have a red line. “It (Israel) cannot have 30,000 more Palestinians dead,” Biden told MSNBC Saturday. Asked about the moment, Biden told MSNBC the comment meant he intends to have a serious meeting soon with Netanyahu.
Persons: Joe Biden, Benjamin Netanyahu, Biden, Netanyahu, Israel ”, Israel, , ” Netanyahu, ” Biden, “ We’ll, We’re, Axel Springer, Kamala Harris, , Bibi –, Antony Blinken, Michael Bennett, Bibi Organizations: CNN, Israeli, MSNBC, Politico, Israel, Sunday, US, Gaza Ministry, Health, Michigan Democratic Locations: Gaza, Israel, Rafah
An intense weekend of campaigning, with the rivals both visiting the critical swing state of Georgia, laid out the stakes of their clash – as well as their strategies and vulnerabilities. Still, a successful State of the Union address can clarify a president’s purpose not just to voters – but to himself and his own campaign. Backstage in Georgia, Trump met the parents of Laken Riley, the 22-year-old nursing student who was allegedly killed by an undocumented migrant. Biden’s campaign knows it must do more to defuse concerns about his capacity to fully serve a second term. “Here’s a guy who’s kicking off his general election campaign up the road with Marjorie Taylor Greene.
Persons: Joe Biden, Donald Trump, Biden, Trump, won’t, Aileen Cannon, Jack Smith’s, Robert Hur, Pete Buttigieg, , Biden’s, he’ll, , Viktor Orbán, ” Orbán, , Nikki Haley, Laken Riley, ” Georgia Democratic Sen, Raphael Warnock, “ craven, Riley, dithering, I’m, ” Biden, “ Donald Trump, Hur, Georgia –, “ Joe Biden, ” Warnock, Brian Kemp, hasn’t, Marjorie Taylor Greene, MAGA Organizations: CNN, GOP, Republicans, Transportation, ABC News, Trump, South Carolina Gov, CNN’s, Union, , ” Georgia Democratic, MSNBC, Court, Trump Republicans, Georgia Locations: Georgia, Florida, Mar, Hungarian, Hungary, CNN’s “ State, ” Georgia, State, New Hampshire , Wisconsin, Michigan, Pennsylvania, “ State
AI is not ready for primetime
  + stars: | 2024-03-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com   time to read: +7 min
Generative AI tools, including ChatGPT, have been alleged to violate copyright. That’s not stopping Big Tech companies and AI firms, which continue to hook consumers and businesses on new features and capabilities. “Access to major generative AI systems in widespread use is controlled by a few companies,” said Venkatasubramanian, noting that these systems easily make errors and can produce damaging content. He believes bolder reforms may be necessary too, such as taxing AI companies to fund social safety nets. For now, current day generative AI users must understand the limitations and challenges of using products that are still quite far from where they need to be.
Persons: , Taylor Swift, Joe Biden, Mandel Ngan, That’s, OpenAI, Elon Musk, Elon Musk Gonzalo Fuentes, ” Suresh Venkatasubramanian, Venkatasubramanian, ” Arvind Narayanan, CNN he’s, Narayanan, , ChatGPT, Bard –, haven’t, ” Gemini, Brian Fung Organizations: CNN, Chamber, Getty, Big Tech, Microsoft, Google, Reuters, Brown University, , White, Office of Science, Technology, Management, Executive, Princeton, “ Tech Locations: Washington ,, AFP, New Hampshire
The sum, which was shared first with NBC News, is a record for Biden's re-election effort, the campaign said. The money flowed in via approximately 116,000 donations from 113,000 contributors, a senior Biden campaign adviser said. Biden's campaign proper had $56 million in the bank at the end of January, the most recent period covered by public campaign finance filings, while the DNC had $24 million. Biden's campaign said its $10 million post-State of the Union total came amid other highs in the past week. "We thank our grassroots supporters who are motivated more than ever to reelect President Biden and Vice President Harris.
Persons: Joe Biden, Joe Biden's, Donald Trump, Biden, Trump, that's, Julie Chavez Rodriguez, Harris, Chavez Rodriguez Organizations: Chamber, U.S, Capitol, Washington , D.C, NBC News, Biden's, Democratic National Committee, Biden, Trump, Republican National Committee Locations: Washington ,, President's
The second-largest donation in 2022 to the non-profit arm of Future Forward, the primary Super PAC supporting Biden, came from a group run by James McClave and Emily Berger. That’s more than any group other than the George Soros-linked Open Society Policy Center, which gave $15.2 million that year. That trend is set to continue this year: Future Forward has announced plans to run the largest ever political advertising campaign by a Super PAC in 2024. A spokesperson for Future Forward did not respond to a request for comment. The pro-Biden group Future Forward has said it plans to run the largest political advertising campaign by a Super PAC this year.
Persons: Joe Biden, James McClave, Emily Berger, Jane, McClave, Berger —, George Soros, Biden, they’re, , , Anna Massoglia, Berger, Massoglia, ” Anna Massoglia, Janet Protasiewicz, Manhattan DA Alvin Bragg, Claude, Sam Bankman, Fried, Jane Street, Julia Nikhinson, Anita Dunn, Harris, It’s, ” Biden, Biden’s, Vox Organizations: CNN, PAC, Biden, , Policy Center, Soros, League of Conservation Voters, Fund, Hopewell Fund, Super PAC, McClave, Democratic Party, Wisconsin Supreme, Manhattan DA, Securities and Exchange Commission, New York Stock Exchange, University of California, Bloomberg, FF PAC, White House, New York Times, Super, Commission, Forward, Center for Voter, Democratic, BEMC Foundation Locations: Manhattan, McClave, Wisconsin, Anthropic, University of California Berkeley, Manassas , Virginia
"Fluid intelligence" slows with aging, Walsh said. U.S. President Joe Biden delivers the State of the Union address at the U.S. Capitol in Washington, D.C., March 7, 2024. Nearly 80% of older workers say they've seen or experienced age discrimination in the workplace, according to research by AARP. There are areas where older workers outperform younger workers. Philip Taylor University of Warwick professor"Crystallized intelligence," considered wisdom, also grows throughout our life, experts say.
Persons: Joe Biden, Biden, Chip Somodevilla, Robert K, Hur, Abdel Fattah el, John Walsh, Walsh, hasn't, Elizabeth Frantz, Selkoe, I've, Joel Kramer, Biden's missteps, Kramer, Philip Taylor, Taylor, Alex Katz, Toni Morrison, they've, , Joseph Biden Organizations: Getty, gerontology, University of Southern, U.S, Capitol, Washington , D.C, Reuters, University of California, AARP ., UCSF, Aging, University of Warwick, Employees, Philip Taylor University of Warwick, Bettmann Locations: Washington , DC, California, Egypt, Mexico, Gaza, University of Southern California, Washington ,, Israel, Biden's State
President Joe Biden on Saturday signed a $460 billion spending bill into law, averting a partial government shutdown that would have taken effect this weekend. On Friday evening, the Senate had voted 75 to 22 to approve the package after the House passed it earlier this week. This is the fourth time this fiscal year that Congress has had to pass a short-term spending bill to keep the government funded and avert a shutdown. Democrats have been pushing for the continued full funding of a special food assistance program for women, infants and children. They also secured wins on rent assistance and pay for infrastructure employees like air traffic controllers and railway inspectors.
Persons: Joe Biden, — CNBC's Rebecca Picciotto Organizations: Chamber, U.S, Capitol, Saturday, Republicans, Environmental Protection Agency, FBI, Alcohol, Tobacco, Firearms, Explosives Locations: Washington , U.S
After speech, Biden launches major tour plus $30 million ad buy
  + stars: | 2024-03-09 | by ( ) www.cnbc.com   time to read: +3 min
US President Joe Biden speaks at a campaign event in Philadelphia, Pennsylvania, on March 8, 2024. An estimated 32.2 million people watched Biden's State of the Union speech, according to Nielsen ratings from 14 television networks. Biden campaign officials said they expect an extremely close race against Trump with opinion polls showing a neck-and-neck race for the 270 electoral votes necessary for victory. Polls show Biden, 81, and Trump, 77, closely matched, with most voters unenthusiastic about the rematch after Biden defeated Trump four years ago. Deputy campaign manager Rob Flaherty said the $30 million ad buy over the next six weeks is more than the Biden campaign spent in all of 2023.
Persons: Joe Biden, Biden, Kamala Harris, Donald Trump, Harris, Nielsen, Julie Chavez Rodriguez, Rob Flaherty, Flaherty, Friday Biden, Trump Organizations: Republican, Georgia, Nielsen, Television, Trump, Biden, Democratic, Comedy Central, ESPN Locations: Philadelphia , Pennsylvania, Pennsylvania, , New Hampshire, , Wisconsin, Michigan, Arizona, Nevada, Biden's, Ohio, Florida, Philadelphia, Delaware County
Opinion: Biden gave the speech of his life
  + stars: | 2024-03-08 | by ( Opinion Cnn Contributors | ) edition.cnn.com   time to read: +29 min
CNN —CNN Opinion asked political and policy contributors to weigh in on President Joe Biden’s State of the Union address. David Gergen: Biden just rewrote the presidential racePresident Joe Biden not only delivered perhaps the best speech of his life last night; he may have also changed the race itself. Roxanne Jones: Biden finally sounds like he’s ready to fightPresident Joe Biden finally has my attention. At the end of his speech, Biden reminded voters that he “grew up among working people” in Scranton. In his State of the Union speech, Biden had to answer the mail on all of these.
Persons: Joe Biden’s, David Gergen, Biden, Joe Biden, , Carrie Sheffield, Carrie Sheffield Barry Morgenstein, Donald Trump’s, pandered, Sophia A, Nelson, Trump, Sen, Andrew, , Donald Trump, Harris, Daniel McCarthy, Trump President Joe Biden, Daniel McCarthy Biden, Ronald Reagan, Bill Clinton, wasn’t, he’s, haven’t, Cori Bush, Rashida Tlaib, Bernie Sanders, Nikki Haley, Trump couldn’t, Reagan, Roxanne Jones, ” Biden, Smart, Jill Filipovic, Mike Johnson, David A, Vladimir Putin, Putin, ” David A, Benjamin Netanyahu, , SubStack’s, Paul Sracic, It’s, White, Paul Sracic Arne Hoel It’s, Hillary Clinton, Joe, ” Paul Sracic, Raul A, Reyes, ” Raul A, Marjorie Taylor Greene’s, Laken Riley, Mark Zandi, Mark Zandi Moody's, Ana Marie Cox, Ana Marie Cox Faith Fonseca, Biden’s, Dobbs, Roe, Wade, Peter Bergen, George W, Bush, Vladimir Putin’s, , beefed, Gazans Organizations: CNN, David Gergen CNN, Union, Harvard Kennedy School, Gallup, NATO, Democratic, Republicans, Trump, Independent Women’s, United States Senate, Biden, Congressional, Trump President, South Carolina Gov, GOP, Republican, Conservative, The Spectator, Syndicate, Big Pharma, Companies, American, Democrats, Twitter, NATO —, Israel, New York Times, CBS News, Democratic Party, United Auto Workers, Youngstown State University, Hudson Institute, Reyes CNN, Border Patrol, Georgia, ” Progressives, Pew Research Center, White, USA, Moody’s Analytics, Ana Marie Cox Faith, Jackson, Peter Bergen CNN, US Senate, New, Arizona State University Locations: Joe Biden’s State, America, United States, State, Gaza, Israel, New York, Ukraine, , American, China, Iran, Europe, Asia, Chicago, Scranton , Pennsylvania, Belvidere , Illinois, Scranton, Claymont , Delaware, Delaware, Ohio, Washington , DC, Georgia, Alabama, Austin, Iraq, New America
“Well, guys, if you’re watching at home, I assume you’re still cleaning up from your big State of the Union party. What kind of wings do you want — right wing, left wing?” — JIMMY FALLON“Yeah, earlier tonight, President Biden delivered the annual State of the Union address, and Biden’s speech was historic. You can’t just go back to your old job like you never left — unless you’re Jon Stewart. You’re crushing it.” — STEPHEN COLBERT“Tonight, the room was filled with over 500 members of Congress, but Senator Mitch McConnell wasn’t there. Well, he attended, but he wasn’t there.” — JIMMY FALLON“Ahead of the president’s arrival there, members of the Supreme Court filed in.
Persons: JIMMY FALLON, Biden, , JIMMY FALLON “ Biden, , ’ ”, JIMMY FALLON “, George Santos, you’re Jon Stewart, Jon ! You’re, ” — STEPHEN COLBERT “, Mitch McConnell wasn’t, Clarence Thomas, ” — STEPHEN COLBERT Organizations: Union, State of, State Locations: State
Cavan Images | Cavan | Getty ImagesPresident Joe Biden has floated plans to address the country's affordable housing issues, including new tax breaks for first-time homebuyers and "starter home" sellers. "If inflation keeps coming down, mortgage rates will come down as well. Interest rates still near 'multidecade highs'With soaring home prices and mortgage interest rates, 2023 was the least affordable year for homebuyers in more than a decade, according to a report from Redfin. "We're close to multidecade highs for mortgage rates," said Keith Gumbinger, vice president of mortgage website HSH. watch nowThere's a 'housing supply crisis'Of course, higher mortgage interest rates are only one piece of the country's affordable housing puzzle.
Persons: Joe Biden, Biden, I'm, Keith Gumbinger, it's, Janneke Ratcliffe Organizations: Getty, White, Chamber, U.S, Capitol, Washington , D.C, homebuyers, Housing Finance, Center, Urban Institute, Urban Locations: Cavan, seller's, Washington ,, Redfin
Income-driven repayment plansIncome-driven repayment plans, which date to 1994, set borrowers' monthly payments based on a share of their discretionary income. "The loan servicers weren't keeping track of the number of qualifying payments," Kantrowitz said in a previous CNBC interview. watch nowThe Biden administration has been evaluating millions of borrowers' loan accounts to see if they should have had their debt forgiven. Most people with federal student loans qualify for income-driven repayment plans, and can review the options and apply at Studentaid.gov. Public Service Loan ForgivenessNavigating the Public Service Loan Forgiveness program has been famously difficult.
Persons: Joe Biden, Shawn Thew, Mark Kantrowitz, Kantrowitz, Biden, George W, Bush Organizations: Chamber, Afp, Getty, CNBC, Education Department, Valuable Education, Public, Consumer Financial Locations: Washington ,
In today's big story, we're looking at pharma companies' surging stocks and threatening tech darlings thanks to their weight-loss drugs. And it comes despite only 1% of US adults taking weight-loss drugs, according to Bank of America , which predicts that number could rise to 15% by 2035. Weight-loss drugs are also cutting more than just fat. For Wall Street, meanwhile, the equation is much simpler: Getting more people on weight-loss drugs boosts the economy. The trend, which will be powered by cash-rich mega-cap tech companies, is thanks to strong earnings growth, the bank said.
Persons: , Joe Biden, Donald Trump —, Trump, Zhan, Eli Lilly, Tesla, Hannah Latham, Octavio Jones, Christian Rodriguez, Laura MacPherson, Jenny Chang, Rodriguez, they're, Goldman Sachs, Biden, Barry Sternlicht, Fernando Gutierrez, It's, Elon Musk, TikTok, Pete Ryan, RJ Scaringe, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, pharma, Business, Tesla, Microsoft, JPMorgan, Pfizer, Novo Nordisk, Bank of America, Nvidia, Companies, Fed, Infrastructure Investment, Alpha, Commission, Elon, EV, Nike, Congress, White, Meta, SXSW Locations: China, US, New York, London
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