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☆ Lawmakers are set to vote to avert a government shutdown. Here’s what it means for markets
▼ + stars: | 2023-11-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Washington may be able to avoid a government shutdown by the upcoming Friday deadline, but that doesn't mean Congress — or the markets — are quite in the clear. House Speaker Mike Johnson said on CNBC's " Squawk Box " on Tuesday that he expects enough lawmakers on both sides to pass his two-step "laddered" continuing resolution. The continuing resolution plan would extend federal funding for some government agencies until mid-January, while other agencies would be funded through early February. The House is expected to vote on the continuing resolution around 4:30 p.m. That doesn't mean that you're not going to have the showdown — it just means that this is the prologue," Salisbury said.

Persons: Mike Johnson, Chuck Schumer, Mitch McConnell, Israel, Goldman Sachs, Jan Hatzius, Benjamin Salisbury, Salisbury, Brian Gardner, Gardner, It's, Eric Diton, Diton, We've, we've, — CNBC's Michael Bloom, Chelsey Cox Organizations: Freedom Caucus, Democrats, Wall, Government shutdowns, Wealth Alliance, Moody's, Service Locations: Washington, Salisbury

☆ House passes bill to avoid government shutdown, Senate to vote next
▼ + stars: | 2023-11-14 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

U.S. House Speaker Mike Johnson (R-LA) speaks during a press conference on Capitol Hill in Washington, U.S., November 14, 2023. WASHINGTON — The House approved a bill Tuesday that would avert a government shutdown, sending the measure next to the Senate, where it is expected to pass. Once it is approved by the Senate, the bill goes to President Joe Biden, who has signaled he is open to signing it. Senate Majority Leader Chuck Schumer, D-N.Y., said if the bill passed the House, he and Republican Minority Leader Mitch McConnell, R-Ky., would move it swiftly through the Senate. "Senate Leader [Mitch] McConnell and I will figure out the best way to get this done quickly," said Schumer.

Persons: Mike Johnson, WASHINGTON —, Joe Biden, Johnson, Johnson's, Kevin McCarthy, McCarthy, Hakeem Jeffries, Chuck Schumer, Mitch McConnell, Mitch, McConnell, Schumer Organizations: Capitol, WASHINGTON, Senate, Republican, Republicans, Democrats, Democratic, and Drug Administration, Jan, Caucus Locations: Washington , U.S, D, Ky

☆ Stock futures tick higher after S&P 500 and Nasdaq post best day since April: Live updates
▼ + stars: | 2023-11-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock exchange during morning trading on November 10, 2023 in New York City. U.S. stock futures ticked higher on Tuesday night. Dow Jones Industrial Average futures climbed 47 points, or 0.1%, while Nasdaq 100 futures also advanced 0.2%. "Even a small dip in mortgage rates was enough to provide that pop in mortgage application demand last week, and a fall in long rates spurs mortgage demand and keeps upward pressure on housing prices. I think that's why they, in theory, want to hold [rates] higher for longer," he said.

Persons: Joe Biden, Dow, Dow Jones, Ross Mayfield, Mayfield, CNBC's Chelsey Cox Organizations: New York Stock, Dow Jones Industrial, Nasdaq, Senate, Investors, Federal Reserve, Baird, Target, Traders Locations: New York City . U.S, U.S

☆ Avoiding a government shutdown is first major test for House Speaker Mike Johnson
▼ + stars: | 2023-11-13 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

House Republican held a Conference meeting to discuss party agenda. WASHINGTON — The government could shut down at the end of the week — unless House Speaker Mike Johnson, R-La., can get his contentious stopgap funding bill passed. The passage of a bipartisan stopgap measure is what prompted former House Speaker Kevin McCarthy's ouster in October. Democratic Rep. Debbie Wasserman Schultz on Monday said the continuing resolution is driven by the "irresponsible" conservative House Freedom Caucus. Johnson said on Saturday that the continuing resolution places House Republicans "in the best position to fight for conservative victories" by separating it from debates over supplemental funding.

Persons: Mike Johnson, WASHINGTON —, Kevin McCarthy's, Debbie Wasserman Schultz, Monday, Wasserman Schultz, Chip Roy, Karine Jean, Pierre, Saturday, Jean, Johnson Organizations: U.S, Capitol, House Republican, WASHINGTON, Democratic, Caucus, Fla, State and Defense, White House, Republican, Republicans, Food and Drug Administration Locations: Washington ,, Israel, Texas, Mexico, Ukraine, Southern, Jan

☆ Threats against election workers driving exodus of veteran staff, experts say
▼ + stars: | 2023-11-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Election workers process ballots after polls closed for the U.S. midterm elections at the tabulation center at Cobb County Elections and Registration Center in Marietta, Georgia, U.S., November 8, 2022. WASHINGTON — Physical and cyber threats against election workers are driving people away from the industry, potentially endangering the ability of states to conduct off-year elections like those on Tuesday, and the upcoming 2024 presidential election. Some election experts and secretaries of state said the threats have trended upward since former President Donald Trump and his allies allegedly attempted to undermine, then overthrow, the results of the 2020 presidential election. Witnesses urged senators to invest in protections for election workers ahead of the 2024 presidential election. In recent years, election officials have endured death threats, online harassment and other abusive behavior, according to the Brennan Center.

Persons: Sen, Amy Klobuchar, Adrian Fontes, Donald Trump, Elizabeth Howard, Brennan, Laphonza Butler Organizations: U.S, Administration, Justice Department, Force, Associated Press, Brennan Center for Justice Locations: Cobb County, Marietta , Georgia, U.S, WASHINGTON, Arizona, D

☆ Yellen to host China's He Lifeng for 'intensive diplomacy' ahead of APEC
▼ + stars: | 2023-11-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

US Treasury Secretary Janet Yellen (L) shakes hands with Chinese Vice Premier He Lifeng during a meeting at the Diaoyutai State Guesthouse in Beijing on July 8, 2023. WASHINGTON — Treasury Secretary Janet Yellen will host her Chinese counterpart, Vice Premier He Lifeng, for two days of "intensive diplomacy" in San Francisco on Nov. 9-10, the Treasury Department announced Monday. The groups will "provide ongoing channels for our teams to drill into the substance of economic and financial policy issues," Yellen wrote in the Post. "In certain sectors, these unfair practices have resulted in the overconcentration of the production of critical goods inside China," Yellen wrote, but added that a "private-sector pullback" from China would trigger disorder. "Diverse supply chains are necessary in a volatile world; decoupling our economies would be economically disastrous and run counter to our national interests," Yellen wrote.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Yellen, China's Organizations: WASHINGTON —, Treasury Department, Asia Pacific Economic Cooperation, The Washington Post, U.S, Commerce Department Locations: Diaoyutai, Beijing, San Francisco, China, California, U.S

☆ We can use AI to fight predatory robocalls, experts tell senators
▼ + stars: | 2023-10-24 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — Senators took a bipartisan stance against abusive robocalling on Tuesday, appealing to experts for enforcement measures as more scammers employ deceptive artificial intelligence. Witnesses told the Senate Commerce's Subcommittee on Communications, Media and Broadband that generative AI can also work in regulators' favor. Mike Rudolph, chief technology officer for robocall-blocking firm YouMail, Inc., said the AI could flag insufficient mitigation controls in the Federal Communications Commission's Robocall Mitigation Database. "That's a great place where you could apply that [AI] technology and probably discard half the entries in the database in an afternoon or a week of work," Rudolph said. Sen. Ben Ray Luján, D-N.M., chair of the subcommittee, said robocalls have eroded the public's trust in the nation's communications networks.

Persons: robocalling, Mike Rudolph, Rudolph, Sen, Ben Ray Luján, Chuck Schumer Organizations: WASHINGTON, Senate, Communications, Media, Inc, Federal Communications, Capitol

☆ Biden's pick for Israel envoy faces tough questions from senators on Iran
▼ + stars: | 2023-10-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — Jacob Lew, President Joe Biden's nominee for ambassador to Israel, defended his handling of Iran policy in the Obama administration on Wednesday at his Senate confirmation hearing. "This whole thing is about Iran," said Sen. James Risch, R-Idaho, ranking member of the Foreign Relations Committee. As Treasury secretary under former President Barack Obama, Lew played a key role in formulating the 2015 Iran nuclear deal. Several Republicans suggested that Lew had effectively opened the door to grant Iran access to the mainstream banking system. If he were confirmed, Lew said, he would uphold Biden's commitment to deny Iran a nuclear weapon.

Persons: Jack Lew, WASHINGTON — Jacob Lew, Joe Biden's, Obama, Sen, James Risch, Barack Obama, Lew, Donald Trump Organizations: U.S, Treasury, Foreign, Capitol, D.C, Foreign Relations, Republicans, Democratic, CNBC Locations: Israel, Capitol Hill, Washington, Iran, Idaho, U.S

☆ CFPB pushing to give consumers more control over their financial data
▼ + stars: | 2023-10-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

The Personal Financial Data Rights rule would ensure consumers' legal right to their checking and prepaid account, credit card and digital wallet history and require fee-free data sharing among financial institutions, according to a release. It also includes restrictions on the monetization of sensitive consumer data by banks and tech companies and permits customers to revoke access to their data. "When it comes to our financial lives, a handful of very large banks and financial firms control much of the market," CFPB Director Rohit Chopra told reporters Thursday. If adopted, the rule would reactivate a statute of the 2010 Dodd-Frank Act tasking the CFPB with ensuring fair competition for consumer financial products. Biden "encouraged the CFPB to consider issuing rules to make it easier for consumers to take their financial data to a new financial services provider," Brainard told reporters Thursday.

Persons: Rohit Chopra, Dodd, Biden, Chopra, Lael Brainard, Joe Biden's, Brainard Organizations: Financial, WASHINGTON, Consumer Financial, Frank, National Economic Council, CNBC Locations: U.S

☆ TransUnion settles with the FTC, CFPB for $23 million for impeding tenants' ability to obtain housing
▼ + stars: | 2023-10-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

"Americans across the country were put at risk of wrongful housing denials because TransUnion failed to follow the law," Consumer Financial Protection Bureau Director Rohit Chopra said. "We are ordering TransUnion to cease its yearslong illegal activity, clean up its broken business practices, redress its victims, and pay penalties." Under the proposed order, which is pending approval by a federal court, $11 million of a $15 million settlement will compensate consumers and $4 million will go to the CFPB's civil penalty fund. The firm also said it has worked with the CFPB and FTC over the past year "to enhance our rental-screening reporting practices, including making certain changes to how eviction records are reported." The CFPB and FTC further argued that tenants who can't access vendors that keep criminal and eviction records face challenges in correcting inaccurate background data.

Persons: TransUnion, Rohit Chopra, CFPB, TURSS, Samuel Levine Organizations: San Francisco , California ., San Francisco , California . WASHINGTON —, Trans, Financial, Federal Trade Commission, Inc, CNBC, Consumers, Consumer Protection Locations: San Francisco , California, San Francisco , California . WASHINGTON, Colorado, FTC's

☆ Businesses are returning $140 million in surprise overdraft fees to consumers, according to a CFPB report
▼ + stars: | 2023-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The nation's federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work to uncover illegal so-called junk fees. "The [Consumer Financial Protection Bureau] continues to uncover junk fee scams that violate the law and undermine consumer trust," CFPB Director Rohit Chopra said in a statement. The bureau on Wednesday released a report of supervisory highlights in tandem with the Biden administration's newly announced policies targeting junk fees across industries. Financial institutions that hit customers with surprise overdraft and NSF fees account for $120 million of the $140 million that companies will reportedly refund to consumers following the March edition of the report, the CFPB found. Nearly two-thirds of banks with more than $10 billion in assets have also eliminated NSF fees, saving customers nearly $2 billion a year, according to a separate report released Wednesday.

Persons: WASHINGTON, Rohit Chopra, overdraft Organizations: Consumer Financial, Biden

☆ White House announces new efforts to crack down on 'tens of billions' in junk fees
▼ + stars: | 2023-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — The White House on Wednesday will announce new initiatives to rein in tens of billions worth of surcharges tied to goods and services, or "junk" fees, in partnership with two of the nation's leading consumer-protection agencies. "When people request basic information about their accounts, big banks cannot charge them massive fees or trap them in endless customer service loops," Chopra told reporters on Tuesday. "Charging a competitive price for a legitimate service makes sense but charging junk fees for basic customer responsiveness doesn't. Both the FTC and the CFPB have taken preliminary actions toward cracking down on junk fees over the past few months. Earlier this year, the CFPB released a rule proposal on excessive credit card fees, while the FTC began targeting unfair practices in ticketing and other fees in late 2022.

Persons: Joe Biden, WASHINGTON —, surcharges, Lael Brainard, Lina Khan, Rohit Chopra, Khan, Chopra, Wells Organizations: WASHINGTON, National Economic Council, Federal Trade, Consumer Financial, Bank of America, Regions Bank, Information, Regulatory Affairs, NEC, of Economic Advisers, FTC Locations: Israel, Washington , DC

☆ Former U.S. Army sergeant charged with offering classified information to China
▼ + stars: | 2023-10-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — A former U.S. Army sergeant was arrested on Friday for allegedly attempting to provide classified national security information to China, the Department of Justice said. Schmidt allegedly initiated efforts to provide Chinese intelligence with U.S. defense information after separating from the military in January 2020, the department said. He was part of the 109th Military Intelligence Battalion, where he had access to information classified "Secret" and "Top Secret," the DOJ said. He also is accused of reaching out to both the Chinese Consulate in Turkey and the Chinese security services via email to offer the information. "Individuals entrusted with national defense information have a continuing duty to protect that information beyond their government service and certainly beyond our borders," said Matthew Olsen, assistant Attorney General for National Security, in a statement.

Persons: WASHINGTON —, Joseph Daniel Schmidt, Schmidt, Schmidt's, Matthew Olsen, Tessa Gorman, Gorman Organizations: Defense, Pentagon, Washington D.C, U.S . Army, Department of Justice, DOJ, Joint, Lewis, McChord, 109th Military Intelligence Battalion, Consulate, National Security, Attorney, Western, of, of Defense Locations: Washington, United States, China, San Francisco, Hong Kong, Seattle, U.S, Turkey, of Washington

☆ Woman pleads guilty in $1.6 million counterfeit Series I savings bond scheme
▼ + stars: | 2023-10-05 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — A woman pled guilty to helping process more than $1.6 million in counterfeit Treasury Department Series I savings bonds through financial institutions around the country, the U.S. Department of Justice announced Thursday. Summer Marie Creech, 45, of Fontana, California, entered a guilty plea Wednesday for conspiracy to make, pass and transfer counterfeit U.S. securities and passing counterfeit U.S. securities. Creech forged counterfeit bonds using authentic bond numbers and sent them to co-conspirators who used stolen identification to negotiate the forgeries at financial institutions in the Southern District of Texas and other locations, according to the DOJ. Lewis pled guilty May 1 to passing counterfeit bonds through banks in the Houston and Brownsville areas of Texas, U.S. Immigration and Customs Enforcement announced. Series I bonds rose in popularity as the country experienced a period of high inflation during the Covid-19 pandemic.

Persons: WASHINGTON —, Summer Marie Creech, Creech, Creech's, Daniel Alan Lewis, Lewis Organizations: U.S . Department of Justice, Southern District of, DOJ, Immigration, Customs Enforcement Locations: Fontana , California, Southern District, Southern District of Texas, Houston, Brownsville, Texas, U.S

☆ Former Trump lawyer Rudy Giuliani sues Biden for defamation over 'Russian pawn' crack
▼ + stars: | 2023-10-04 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Former Mayor of New York Rudy Giuliani speaks to reporters as he leaves his apartment building in New York, Wednesday, Aug. 23, 2023. WASHINGTON — Rudy Giuliani sued President Joe Biden for defamation Wednesday, saying he lost clients and podcast listeners after Biden called him a "Russian pawn" during an October 2020 debate with then-President Donald Trump. His suit against Biden comes a week after the president's son, Hunter Biden, sued Giuliani for alleged violations of computer fraud and data access. Weeks before the 2020 election, Giuliani gave The New York Post a purported copy of Hunter's laptop computer. "Nobody believes it except ... his good friend Rudy Giuliani."

Persons: New York Rudy Giuliani, WASHINGTON — Rudy Giuliani, Joe Biden, Biden, Donald Trump, Giuliani, Trump, Hunter Biden, Hunter Biden's, Buddy, Rudy Giuliani Organizations: New York, Court, New, New York City, Trump, CIA, Democratic Party Locations: New York, Merrimack County, Concord , New Hampshire, Ukraine, Russian, Atlanta, Georgia

☆ Sen. Tommy Tuberville says U.S. military not an 'equal opportunity employer'
▼ + stars: | 2023-09-27 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Sen. Tommy Tuberville, R-Ala.,speaks to reporters outside the Senate chamber in the Capitol on Thursday, July 13, 2023. WASHINGTON — Sen. Tommy Tuberville, an Alabama Republican and former football coach, said Tuesday that the U.S. military is "not an equal-opportunity employer." The military is an equal-opportunity employer, and the Pentagon has an "Office of Equal Employment Opportunity." "I heard some things that he talked, about race and things that he wanted to mix into the military," Tuberville said about Brown. "We're not looking for different groups, social justice groups," Tuberville said.

Persons: Sen, Tommy Tuberville, WASHINGTON — Sen, Tuberville, Charles, CQ, Brown Organizations: Alabama Republican, Pentagon, Bloomberg, Air Force, Joint Chiefs, Staff

☆ Former OPM employee sentenced to 2 years probation for directing contracts to family-owned companies
▼ + stars: | 2023-09-25 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

The scene from outside the U.S. Office of Personnel Management in Washington, D.C., on May 21, 2019. WASHINGTON — A former employee of the U.S. Office of Personnel Management was sentenced to two years probation for steering more than $10 million worth of contracts toward businesses associated with herself or her husband. Federal sentencing guidelines recommended a sentence of zero to six months in jail with eligibility for probation, according to the defendant's memorandum. The company won multiple OPM contracts, starting in 2011, with Spann serving as OPM's point of contact. The Spanns also benefited from Enlightened's contract with consulting firm Tier 1 LLC from March 2012 to April 2017, according to court records.

Persons: WASHINGTON —, Sheron Spann, Spann, Prosecutors, Thomas Spann III Organizations: U.S ., Management, Washington , D.C, Enlightened Inc Locations: Washington ,, U.S

☆ Pressure mounts on McCarthy ahead of shutdown deadline as Democratic Rep. Boyle blames 'infighting'
▼ + stars: | 2023-09-25 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — Bipartisan lawmakers on Monday weighed in on a possible government shutdown, as pressure builds on House Speaker Kevin McCarthy to get something passed with less than a week before the deadline. McCarthy, R-Calif., is in a bind and can't afford to lose more than four Republican votes on a spending bill. Rep. Tim Burchett, R-Tenn., said Sunday that he might back ousting the House speaker if such a compromise is reached. "Clearly it's a Kevin McCarthy problem," Heidi Heitkamp, a former Democratic senator from North Dakota, told "Squawk Box" on Monday about moving bills through the House. "People will get paid at the end of this," Mulvaney told "Squawk Box."

Persons: Kevin McCarthy, Jason Smith, CNBC's, McCarthy, Tim Burchett, Brendan Boyle, recessing, Heidi Heitkamp, We've, Heitkamp, Mick Mulvaney, Donald Trump, Mulvaney, It's Organizations: WASHINGTON, Republican, Caucus, Democratic, Social Security, White House Locations: Missouri, North Dakota, Washington

☆ SEC slaps Citadel Securities LLC with $7 million fine to settle short selling charges
▼ + stars: | 2023-09-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: 1 min

WASHINGTON — The U.S. Securities and Exchange Commission fined Citadel Securities LLC $7 million for settling charges of violating order marking requirements, the commission announced Friday. The SEC estimated that the firm marked millions of certain short sale orders as long sales, and vice versa, between September 2015 and September 2020, according to the commission. The source of the inaccuracies was a coding error in Citadel's automated trading system during this time frame, the SEC found. A Citadel spokesperson told CNBC that the matter "had no impact on the quality of our client execution." "While updating our systems to accommodate certain client requests, we made a coding change that inadvertently affected a de minimis percentage of our order markings," the spokesperson added.

Persons: WASHINGTON Organizations: The U.S . Securities, Exchange Commission, Citadel Securities, SEC, Citadel, CNBC Locations: The

☆ SEC fines Goldman Sachs $6 million over inaccurate, incomplete trading information
▼ + stars: | 2023-09-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The U.S. Securities and Exchange Commission on Friday announced a $6 million penalty against Goldman Sachs for providing incomplete and inaccurate trading information to the regulator. The banking giant made more than 22,000 deficient "blue sheet" submissions over a roughly 10-year period, affecting at least 163 million transactions, according to an SEC order. The SEC routinely sends these electronic requests to brokers for securities trading information to identify buyers and sellers. The firm is "pleased to have resolved this matter," Abbey Collins, a spokesperson for Goldman Sachs, told CNBC. But the SEC also found that Goldman had insufficient internal processes to verify the accuracy of its blue sheet submissions.

Persons: WASHINGTON, Goldman Sachs, Thomas P, Smith Jr, Goldman, Abbey Collins, Collins Organizations: The U.S . Securities, Exchange Commission, SEC, New York Regional Office, CNBC Locations: The

☆ Saudi crown prince says he will keep 'sportswashing' as criticism of the practice grows
▼ + stars: | 2023-09-21 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

Call it whatever you want, we're going to get that one and a half percent," the crown prince said. The Saudi Public Investment Fund (PIF), an entity controlled by Crown Prince Mohammed, has backed Saudi soccer clubs and LIV Golf. The LIV Golf merger with the PGA Tour has faced widespread scrutiny. Key U.S. lawmakers have criticized the pending golf merger as an attempt by the kingdom to distract from its human rights record. Prior to the deal, LIV Golf sued the PGA Tour for alleged anticompetitive practices, which prompted the PGA Tour to countersue, saying LIV Golf was stifling competition.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Prince Mohammed bin Salman, sportswashing, I'm, Critics, Jamal Khashoggi, Cristiano Ronaldo, Dustin Johnson, Bryson DeChambeau, LIV Golf, Crown Prince Mohammed, LIV, Osama bin Laden, It's, Sen, Richard Blumenthal, Conn, Jimmy Dunne, Ron Price, Price, Benjamin Freeman, — CNBC's Lillian Rizzo, Chelsey Cox Organizations: Saudi, Saudi Arabian Crown, Partnership, Global Infrastructure, Fox News, Washington Post, Neymar, PGA Tour, Saudi Public Investment Fund, Crown, Reuters, PGA, Key U.S, Homeland Security, Governmental Affairs, Tour, Quincy Institute, Responsible Locations: Saudi Arabian, New Delhi, India, Saudi, Europe, Saudi Arabia, Key, Yemen

☆ 'Watch out': Senate Intelligence chair cautions on AI 'deep fakes' ahead of 2024 election
▼ + stars: | 2023-09-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The chairman of the Senate Select Committee on Intelligence warned Wednesday that artificial intelligence could be manipulated to affect the 2024 U.S. elections and financial markets. These are "the two areas where AI can have the most immediate disruptive effect," Sen. Mark Warner, D-Va., told CNBC's "Squawk Box." "With a presidential year coming ... the kind of deep fake and manipulation that can take place: Watch out," Warner said. Warner said the United States is vulnerable to countries with advanced AI technology, such as China. Biden said those efforts were geared "to make sure we govern this technology, not the other way around, having it govern us."

Persons: Sen, Mark Warner, Biden, WASHINGTON —, CNBC's, Warner, Joe Biden Organizations: Washington , D.C, WASHINGTON, Intelligence, United Nations General Assembly Locations: Washington ,, United States, China

☆ Florida Sen. Rick Scott expects Congress will avoid government shutdown
▼ + stars: | 2023-09-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: 1 min

Senator Rick Scott (R-FL) speaks after the Senate Republican GOP leadership election on Capitol Hill in Washington, November 10, 2020. WASHINGTON — Sen. Rick Scott, a Florida Republican, on Wednesday said he expects Congress will reach a deal to avoid a government shutdown less than two weeks before a looming deadline. "We ought to stop this idea that we're going to see government shutdowns," Scott told CNBC's "Squawk Box." Scott said the conservative House Freedom Caucus is working on a plan that will cut what he called wasteful spending, secure the U.S. border and lower inflation rates. Senate Republicans, meanwhile, are developing a continuing resolution that, while not a "perfect solution," will work toward preventing shutdowns, he said.

Persons: Rick Scott, WASHINGTON — Sen, Scott, CNBC's, shutdowns Organizations: Republican, Capitol, Florida Republican, Senate Republicans Locations: Washington, Florida, U.S

☆ U.S. national debt hits $33 trillion for the first time
▼ + stars: | 2023-09-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — The national debt of the U.S. reached a historic milestone by passing $33 trillion for the first time, less than two weeks before the federal government faces a potential shutdown over a lack of funding authorization. A roughly 50% increase in federal spending between fiscal 2019 and fiscal 2021 contributed to the debt topping $33 trillion, the department said. Tax cuts, stimulus programs and decreased tax revenue as a result of widespread unemployment during the Covid-19 pandemic were factors in driving government borrowing to new heights. The issue of the debt is at the center of a standstill in Congress over a spending bill that would sustain the government until the next funding cycle. Congress has until Sept. 30 to pass a spending bill.

Persons: WASHINGTON —, Joe Biden's, Donald, Michael Kikukawa, Kikukawa Organizations: U.S . Department of, Treasury, Washington , D.C, WASHINGTON, U.S, Treasury Department, University of Pennsylvania, Republicans, Sunday, NBC, Democrat, CNBC, Congressional, White House Locations: Washington ,

☆ Treasury Secretary Janet Yellen tackles 'disconnect' on Biden polling and U.S. economy
▼ + stars: | 2023-09-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Janet Yellen, U.S. Secretary of the Treasury at Clinton Global Initiative summit at Hilton Midtown Hotel. WASHINGTON — Treasury Secretary Janet Yellen on Tuesday said there is a "disconnect" between the actual performance of the U.S. economy and how Americans feel about how President Joe Biden has handled it. The negative opinions that Americans share in polls on the economy "mainly reflects their answers on how is the economy more broadly doing," Yellen said on MSNBC's "Morning Joe." But she predicted that people will start to feel more positive about the overall economy once they see the effects of Biden administration legislation and policies. We've had a trifecta of legislation that President Biden and Congress have passed," Yellen said.

Persons: Janet Yellen, Joe Biden, Yellen, Joe, Biden, We've Organizations: Treasury, Clinton Global Initiative, Midtown, Midtown Hotel . WASHINGTON —, Congress, Wall Street Locations: U.S, Midtown Hotel . WASHINGTON, America

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