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☆ Secret to Startup Success: Being an Obnoxious Risk-Taker
▼ + stars: | 2024-08-13 | by ( Nate Silver | ) www.businessinsider.com time to read: +11 min

Of the billionaires on the 2023 Forbes 400 list — the 400 richest people in the United States — 70% are basically self-made. In 1982, only 40% of the Forbes 400 had started their own business; the majority were simply scions of inherited wealth. The Forbes 400, however, is the extreme right tail of the curve. But you're not sniffing the Forbes 400 list, where the bidding starts at about $3 billion. I don't think VCs are deliberately picking founders they think are unreliable, although sometimes it seems like it.

Persons: Raj Chetty, That's, Chamath Palihapitiya, Palihapitiya, Josh Wolfe, Wolfe, Elon Musk, Thiel, Jeff Bezos, we're, Sam Bankman, Andreessen Horowitz, A16z, Adam Neumann, Neumann, WeWork, Marc Andreessen, Ben Horowitz, Horowitz, they've, Benchmark's Gurley, Gurley, Nate Silver Organizations: Forbes, United States —, Social Capital, Burger, Lux, VCs, New York Times, Penguin Press, Penguin Publishing, Penguin Random Locations: United States, America, Sri Lanka, Canada, Coney, Israeli, Silicon, Canyon Point , Utah

☆ Ukraine is extending its record of flipping the script on Russia through innovation and audacity
▼ + stars: | 2024-08-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Read previewFor months, Ukraine had been on the back foot in its war against Russia, with the Kremlin's forces slowly winning control of new territory. But last week, Ukraine turned the dynamic of the war on its head, launching an audacious incursion into Russia's Kursk province. However, the training provided by Ukraine's Western allies gave Ukraine the capacity to surprise and outmaneuver Russia. It's unclear exactly how Ukraine managed to take Russia by surprise with its Kursk attack. Military experts said that Ukraine had also exploited the sluggishness and rigidity of Russian military commanders, who scrambled to devise an effective response to the attack.

Persons: —, Vladimir Putin, It's, Russia's, Jacob Parakilas, they've, it's Organizations: Service, Russia, Kremlin, Business, Black, Rand Corp, Soviet, Economist, Forbes, New York Times, Military Locations: Ukraine, Russia's Kursk, Russia, Russian, Ukrainian, Soviet, Donbas, Crimea, Kyiv, Kursk

☆ We forecast a recession which will slow inflaiton: Piper Sandler's Nancy Lazar
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe forecast a recession which will slow inflaiton: Piper Sandler's Nancy LazarNancy Lazar, Piper Sandler global chief economist, joins 'Money Movers' to discuss whether Tuesday's economic data changes any of the economists' forecasts, whether the Federal Reserve has room to focus on its employment mandate, and more.

Persons: Piper Sandler's Nancy Lazar Nancy Lazar, Piper Sandler Organizations: Federal Reserve

☆ JPMorgan raises 2024 recession odds to 35%
▼ + stars: | 2024-08-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in a Wednesday note. Meanwhile, JPMorgan kept its odds for a recessionary period by the second half of 2025 at 45%. But traders got better news on the labor market front on Thursday, with the volume of weekly jobless claims coming in lower than economists expected. To be sure, despite raising his odds, Kasman said investors should not assume all signs point to a recession. In fact, Kasman described his increase to near-term recession risk as modest.

Persons: Bruce Kasman, Kasman, Goldman Sachs Organizations: JPMorgan, Federal, Fed Locations: U.S

☆ The mortgage lock-in effect shaved $20 billion off the US economy in a year
▼ + stars: | 2024-08-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

A paper found that the housing market's lock-in effect cost the US economy $20 billion over a year. High mortgage rates led to economic stagnation and reduced housing activity. Researchers estimated Americans who moved paid an extra $21 billion a month in mortgage payments. Go to newsletter preferences Thanks for signing up! AdvertisementHigh mortgage rates cost the US economy billions of dollars last year.

Persons: —, Jack Liebersohn, Jesse Rothstein Organizations: Service, National Bureau of Economic, Business

Asia-Pacific markets extended gains on Wednesday, tracking Wall Street benchmarks that snapped a three-day losing streak overnight. It further sold 3.87 trillion yen worth of dollars on May 1, ministry data showed. Customs data showed on Wednesday that China's imports in July grew faster-than-expected, while export growth missed forecasts. Exports in U.S. dollar terms rose by 7% for the month compared to a year ago, missing economists' expectations for a 9.7% increase. Meanwhile, U.S. dollar-denominated imports rose by 7.2%, far more than the economist's forecast of 3.5%.

Persons: Canon, Shinichi Uchida Organizations: Nikkei, Mitsui, SoftBank, Bank of Japan, Bank, Japan's Ministry of Finance, China's CSI, . Locations: Qingdao Port, Shandong province, Qingdao, China, Asia, Pacific

Expensive Big Mac meals and fears of surge pricing at grocery stores have put food chains and consumer product companies in politicians' crosshairs. Walmart , McDonald's and Kroger are just a few of the companies that have found themselves in the debate over high inflation in the 2024 election. Democrats — particularly those like Casey who are trying to win races in competitive swing states — are trying to capitalize on frustration against companies over inflation. (The source of the data is unclear, and McDonald's has denied that its average prices have risen that much.) The criticism could also add to the pressure companies face to show they can lower prices or offer value.

Persons: Elizabeth Warren, Bob Casey, Kroger, Rodney McMullen, —, Casey, Joe Biden, McDonald's, Kamala Harris, Donald Trump, Harris, Trump, Biden, Cait Lamberton, That's Organizations: Walmart, McDonald's, Kroger, Albertsons, House Republican, Taco Bell, Democratic, Republican, U.S . Bureau of Labor Statistics, University of Pennsylvania's Wharton Locations: Sens, McDonald's

☆ Opinion | The Economist Who Predicted What Could Well Be the Next Recession
▼ + stars: | 2024-08-05 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

The economist and market strategist David Rosenberg took a lot of heat for predicting that the Federal Reserve’s big increase in interest rates would tip the U.S. economy into recession. “I spent most of the past year being absolutely beaten up,” he told me last week. “I had email from clients that you would not believe, and many cancellations.”The latest economic data, including a sharp slowdown in job growth in July, is indicating that Rosenberg may well have been right all along. I asked him if he feels vindicated. Stocks also slumped in Europe and were off to a bad start in the United States on Monday as I was finishing this newsletter.

Persons: David Rosenberg, ”, “, Rosenberg, Stocks Organizations: Federal, Nikkei Locations: U.S, Europe, United States

☆ Meet Michal Kosinski, the Oppenheimer of AI's Scariest Future
▼ + stars: | 2024-08-05 | by ( Adam Rogers | ) www.businessinsider.com time to read: +20 min

Eugenicists used photographs and IQ tests to determine which people were "inferior," and sterilized those who didn't measure up — which usually turned out to be anyone who wasn't white and rich. Before he worked with photographs, Kosinski was interested in Facebook. It's just picking up on the way gay people present themselves on dating sites — which, not surprisingly, is often very different from the way straight people present themselves to potential partners. Kosinski thinks AI's ability to make the kind of personality judgments he studies will only get better. That is the future Kosinski fears — even as he continues to tinker with the very models that prove it will come to pass.

Persons: Michal Kosinski, Kosinski, I'm, they'd, isn't, Oppenheimer, David Stillwell, Stillwell, aren't, Brian Stauffer, Aleksandr Kogan, Donald Trump, —, Kosinski isn't, MAGA, Bernie bros, Alexander Todorov, It's, they've, — Francis Galton, Ronald Fisher, Karl Pearson —, Aubrey Clayton, Hitler, Trump, They're, Adam Rogers Organizations: Stanford University, Kosinski, Facebook, Cambridge, Cambridge Psychometrics, National Academy of Sciences, Psychometrics, BI, intuit, Guardian, Rights, GLAAD, Stanford, HRC, University of Chicago, US Supreme, tinker, Business Locations: California, Stanford, Kosinski, Russia

☆ The Problem With the Natural Childbirth Movement - The New York Times
▼ + stars: | 2024-07-31 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +7 min

The natural-parenting movement, like the anti-vaccine movement, relies on our forgetfulness about what life was like before the innovations that it denounces. Also like the anti-vaccine movement, the natural-parenting movement is a reaction to very real failures in our medical system, which has more than earned people’s distrust. Natural parenting has since been thoroughly secularized, but it still preaches something akin to spiritual transcendence through female sacrifice. Even if you distrust the natural-parenting movement, its pressures are hard to escape. If the natural-parenting movement really cared about children, it would do some introspection about how often it makes their parents miserable.

Persons: I’d, “, ”, who’ve, thrall, It’s, Carla Cevasco, don’t, —, Amy Tuteur, Dick, Read, Ina May Gaskin, William Sears, God, Emily Oster, Long, Gaskin, who’d, saccharine condescension Organizations: World Health Organization, OB, Harvard Medical, Leche League, Daily Locations: British, Leche

Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond. How low demand can cause a housing market crashA sudden drop in homebuying demand can lead to a housing market crash. What a housing market crash would mean for homebuyersAnything is possible, and nobody has a crystal ball to see for certain what will happen in the housing market in the coming months and years. Preparing for a potential housing market crashRight now, you probably don't need to be preparing for the housing market to crash. Housing market crash FAQsWhat are the key signs of an impending housing market crash?

Persons: homebuyers, Fannie Mae's, Lawrence Yun, Yun, isn't Organizations: Housing Survey, National Association of Realtors, Housing Locations: exurbs, Chevron

☆ China calls for bolstering tech 'breakthroughs' and achieving the full-year growth target
▼ + stars: | 2024-07-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

China must "adapt to the new round of scientific and technological revolution and industrial transformation," an official English-language communique said. It also said China would "improve the new system for mobilizing resources nationwide to make key technological breakthroughs." The readout affirmed Beijing's commitment to balancing development with ensuring national security, and did not otherwise reveal policy changes. "I would highlight 'innovation and managed markets' as the top two keywords in the Third Plenum," Xu said. Regarding the latest plenary meeting, "we think any market-oriented reform will be measured and carried out insofar as it doesn't compromise national security," Xu said.

Persons: Hector Retamal, Liqian Ren, Tianchen Xu, Xu, Biden Organizations: AFP, Getty, BEIJING —, Communist Party's, Economist Intelligence Unit Locations: Beijing, China, WisdomTree, U.S

☆ PIMCO economist says fears of a US debt crisis are overblown - for now
▼ + stars: | 2024-07-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

PIMCO economist Peder Beck-Friis says that high US debt levels do not pose an immediate threat. Before that happens, volatility will rise in financial markets and the macro economy, he noted. AdvertisementInvestors shouldn't fear US debt crisis just yet, as the situation is more benign than it appears, PIMCO econmist Peder Beck-Friis wrote on Thursday. In an op-ed in The Financial Times, Beck-Friis wrote that investors will need to prepare for higher instability before policymakers treat the debt seriously. Like many other big-name market observers, he argued that the aggressive rise in the US debt will eventually hit unsustainable levels.

Persons: Peder Beck, Friis, —, PIMCO econmist Peder Beck, Beck, Bill Gross, Ronald Reagan, Bill Clinton Organizations: Financial Times, Service, Financial, US Locations: Washington, Europe

☆ Fed is likely to start cutting rates in September, says Citi's Nathan Sheets
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed is likely to start cutting rates in September, says Citi's Nathan SheetsNathan Sheets, Citi global chief economist, joins 'Money Movers' to discuss the economist's thoughts on the Federal Reserve's rate path, what economic deterioration Sheets is expecting, and if there should've been more of an effort to consider rate cuts in July.

Persons: Nathan Sheets Nathan Sheets Organizations: Citi

☆ Many Americans think they’re insulated from climate change. Their finances indicate otherwise
▼ + stars: | 2024-07-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Joseph Lamberti/Bloomberg via Getty ImagesMany Americans think they're insulated from the effects of global warming. But climate change is already having negative and broad impacts on household finances, according to experts. "There are a bazillion pathways" to adverse financial impact, he added. However, when it comes to financial impact, "I think you could argue the correct answer for [people] is, 'It's already hurting me,'" Krosnick said. How global warming and inflation intersectClimate change also exacerbates inflation, research shows — a dynamic dubbed "climate-flation."

Persons: Joseph Lamberti, Gernot Wagner, Jon Krosnick, Krosnick, Angela Weiss, Wagner, Mario Tama Organizations: Bloomberg, Getty Images, ICF, Columbia Business School, Finance, Stanford University, Resources, Research, Afp, Getty, Columbia Business, University of Illinois, University of Oregon, New York City, Workers, European Central Bank, Potsdam Institute, Climate Locations: Philadelphia, U.S, American, Miami, Bronx, New York, Urbana, Champaign, Canada, Baker , California, California, Phoenix

☆ With odds of a Trump win rising, here's what it could mean for Europe's economy
▼ + stars: | 2024-07-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. "Trump's re-election would thus pose a significant downside risk to our otherwise constructive growth forecast for the Euro area." Trade policy uncertainty, added defense and security pressures and spillover effects from U.S. domestic policies on, for example, taxes could impact Europe, they explained. Trade tensionsTrump's trade policy, and the uncertainty around it, could be one factor that impacts Europe's economy, just as it did during his last presidency, analysts Stehn and Moberly said. In 2018 and 2019, uncertainty about trade policy reduced industrial production in the euro area by around 2%, they estimated.

Persons: Donald Trump, Eva Marie Uzcategui, Goldman Sachs, Jari Stehn, James Moberly, Trump's, Trump, Joe Biden, Moberly Organizations: Trump National Doral Golf Club, Bloomberg, Getty, White, Trump, European Union, EU, . Defense, NATO, U.S, Stehn Locations: Miami , Florida, Europe, Pennsylvania, U.S, Germany, Stehn, Moberly, Ukraine

☆ Majority of economists say inflation would be higher under Trump than Biden: WSJ survey
▼ + stars: | 2024-07-12 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

A majority of economists surveyed by The Wall Street Journal said former President Donald Trump's policies would be more likely to reignite inflation than President Joe Biden's would. Eight of the economists in the WSJ survey said inflation would be worse under Biden than Trump. Meanwhile, the several economists who saw Biden as the bigger inflation threat cited large spending packages. Still, 51% of economists in the WSJ survey estimate that federal deficits will rise more under Trump, who has proposed making his first-term tax cuts permanent. Meanwhile, 22% of economists think the same for Biden, in part citing Democrats' historically higher support for government spending.

Persons: Donald Trump's, Joe Biden's, Trump, Biden, Biden's, Harris, Sarafina Chitika Organizations: Wall Street Journal, Biden, Republican, Trump, Wall Street, Democratic, Capitol, Federal Reserve Locations: China, U.S, Trump

Supply and DemandThe case for housing deregulation starts with Econ 101: Allowing builders to significantly increase housing supply leads to much lower prices. It isn’t rising demand, as the U.S. population rose even faster back when housing prices were roughly stable. Standard of LivingWhat would happen if homebuilders could once again freely build until housing prices were driven back down to cost? The admittedly small number of studies on the link between YIMBY and babies support common sense: Less regulation lowers housing prices, and lower housing prices generally raise birth rates and hasten child-bearing. In a rational world, the panacea policy of housing deregulation would be a done deal.

Persons: Ben Denzer, Taylor, Wharton, homebuilders, Thomas Piketty’s, ”, Matthew Rognlie, Peter Ganong, Daniel Shoag, Anne Case, Angus Deaton Organizations: Republicans, Research, Area, Wharton, Francisco, Francisco Los Angeles New, Francisco Los Angeles New York Phoenix Denver Houston Dallas, Japan Japan France France Britain Britain, Japan Japan France France Britain Britain Canada, → Utah Nevada Arizona New, San, San Francisco New, Atlanta Houston Boston, Democrats, Republican Locations: Minnesota , Oregon, California, New York City, Houston, Dallas, Francisco Los, Francisco Los Angeles New York, Wharton, United States, Japan, France, Britain, Canada, U.S, Japan Japan France France, Japan Japan France France Britain Britain Canada Canada, Bay, Dodge, → California Nevada Florida New York Arkansas, → Utah Nevada Arizona, → Utah Nevada Arizona New York West Virginia, Washington, San Francisco, San Francisco New York Los Angeles Rochester, N.Y, Atlanta

☆ A Nobel-winning economist told us 3 ways a Trump presidency could make inflation worse
▼ + stars: | 2024-07-09 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewNobel Prize-winning economist Joseph Stiglitz told Business Insider in a June interview the US economy is "remarkably strong." "I think general consensus, not just my view, but almost anybody modeling what is going on would say the Trump administration would be more inflationary," Stiglitz told BI. Related storiesStiglitz noted Trump's promise of large increases in tariffs as one of the things that could make inflation worse. A third factor that could juice inflation would be the "drastic reductions in immigration" that Trump has proposed, Stiglitz said. AdvertisementOutside of the risks to inflation, Stiglitz said a Trump presidency could also mean a slowing GDP.

Persons: —, Joseph Stiglitz, Stiglitz, Trump, Axios, Trump's, Karoline Leavitt Organizations: Service, Democratic, Republican, Business, Republican National Committee, Trump, U.S, Republicans, CNN Locations: U.S

☆ Abolish HOAs: Homeowner Associations Make It Harder to Own a House
▼ + stars: | 2024-07-08 | by ( Ned Resnikoff | ) www.businessinsider.com time to read: +10 min

These private quasi-governments are called homeowner associations, or HOAs. While California has the most HOAs of any state (50,000), Florida has far more HOA residents as a percentage of its population. The association also provided its residents with "the usual privileges of a citizen in any free state," Tullock wrote. Readers will not be shocked to learn that Clarke and Freedman also found that HOA residents were more likely to be white or Asian than non-HOA residents. (Cashin observed that several states, including New Jersey and Texas, had laws allowing HOA residents to subtract the cost of privately provided infrastructure from their taxes.)

Persons: Norman Rockwell, Ron DeSantis, HOA, Quinn Slobodian, HOAs —, Gordon Tullock, Tullock, it's, Jim Crow, Wyatt Clarke, Matthew Freedman, Clarke, Freedman, Robert Reich, Sheryll Cashin, Cashin, HOAs Organizations: Gov, Guardian, HOAs, George Mason University, HOA Locations: An, HOA, Florida, While California, Rossmoor , California, America, Pima County, New Jersey, Texas, That's

☆ China faces economic headwinds as it grapples with an aging — and shrinking — population
▼ + stars: | 2024-07-04 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +6 min

Fertility rates across OECD countries have halved since 1960, according to a new OECD report. He said the three countries are disproportionately impacted by a rapidly aging population, largely due to improved standards of living, which have a "very strong inverse relationship with fertility rates." These improved conditions have led to a greater opportunity cost for having children, Xu said. Shrinking workforceA decline in fertility rate puts pressure on the economy and the society at large as the working population shrinks. China's policy shiftsIn China, policymakers have been putting a big emphasis on "productivity growth," Xu told CNBC.

Persons: Leren Lu, Darren Tay, Erica Tay, Tianchen Xu, Xu, BMI's Tay, Tay, Maybank's Tay Organizations: OECD, BMI, Risk, United Nations, Economist Intelligence, Economic Co, National Bureau of Statistics, CNBC, Economist Intelligence Unit Locations: China, Asia, South Korea, Japan, East, Southeast Asia, Maybank

☆ Ukraine is forming new army brigades but is unable to supply them all, military experts say
▼ + stars: | 2024-07-04 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

Ukraine is creating new brigades but can't arm all of them, military experts said. The Institute for the Study of War said this is likely due to a lack of Western weapons and delays. Delays in weapons deliveries are the "biggest tragedy of this war," Ukraine's president said this week. AdvertisementUkraine is creating several new brigades but it can't arm all of them, military experts said. "Ukraine is addressing its manpower challenges and is forming several new brigades, but delayed and insufficient Western weapons deliveries will likely prevent Ukraine from equipping all these new brigades," the Institute for the Study of War said on Wednesday.

Persons: —, Oleksandr Pavliuk Organizations: Service, for, Business Locations: Ukraine

☆ US employers want more part-time workers. Here’s what that means
▼ + stars: | 2024-06-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

“So far, the labor market has adjusted slowly, and the unemployment rate has only edged up. The industries that were most likely to advertise part-time work as of May were beauty and wellness; personal care and home health; retail; food preparation and service; and sports, Indeed said. During the Great Recession from 2007 to 2009, part-time work rose sharply, according to research from the San Francisco Fed. “There was this rise in part-time work when the economy and the labor market were doing well coming out of the pandemic,” Culbertson told CNN. The US Labor Department releases June figures gauging the state of the labor market, including monthly job growth, wage gains and the unemployment rate.

Persons: Mary Daly, ” Daly, Daniel Culbertson, ” Culbertson, Alicia Wallace, Friday’s, Jerome Powell, John Williams Organizations: CNN Business, Bell, Washington CNN — Companies, Labor Department, Federal Reserve, San Francisco Fed, Commonwealth Club World Affairs of, CNN, Commerce Department, Commerce, P Global, Institute for Supply Management, European Central Bank, US Labor Department, Constellation Brands, Constellation Brands . New York Fed, US Commerce Department, New York Fed Locations: Washington, Commonwealth Club World Affairs of California, Constellation Brands .

☆ From Atlanta to San Francisco: These are the 10 best U.S. cities to live in based on culture, education, infrastructure and more
▼ + stars: | 2024-06-30 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

The Economist Intelligence Unit Global Liveability Index ranked the best cities to live in the U.S. for 2024. For the third year in a row, Vienna, Austria, ranked as the world's best city to live. The Hawaii city landed in the top spot because of its high scores in education, infrastructure, and stability compared to other U.S. cities. The 10 best cities to live in the U.S.Honolulu, Hawaii Atlanta, Ga. Pittsburgh, Penn. 29 on the global list, ahead of other major U.S. cities like New York, L.A., and San Francisco.

Organizations: Economist Intelligence, Economist Intelligence Unit, Health, U.S, Los Angeles, Honolulu, Swiet, CNBC, U.S ., Wash . Washington D.C, Ill Locations: U.S, Vienna, Austria, America , New York, Los, Honolulu, Hawaii, America's, States, U.S . Honolulu, Hawaii Atlanta, Ga, Pittsburgh, Penn, Seattle, Wash . Washington, Chicago, Boston, Mass, Miami, Fla, San Francisco, Calif . Minneapolis, Minn, Atlanta , Georgia, New York

☆ A Nobel Prize-winning economist breaks down exactly how Trump's proposed policies could make inflation worse
▼ + stars: | 2024-06-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewNobel Prize-winning economist Joseph Stiglitz told Business Insider the US economy is "remarkably strong." "I think general consensus, not just my view, but almost anybody modeling what is going on would say the Trump administration would be more inflationary," Stiglitz told BI. AdvertisementStiglitz noted Trump's promise of large increases in tariffs as one of the things that could make inflation worse. AdvertisementA third factor that could juice inflation would be the "drastic reductions in immigration" that Trump has proposed, Stiglitz said. Outside of the risks to inflation, Stiglitz said a Trump presidency could also mean a slowing GDP.

Persons: —, Joseph Stiglitz, Stiglitz, Trump, Axios, Joe Biden, Trump's, Karoline Leavitt Organizations: Service, Democratic, Republican, Business, Trump, U.S, Republicans, CNN Locations: U.S

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