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☆ For the first time in his presidency, Biden's approval rating on Main Street goes up
▼ + stars: | 2022-12-09 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +3 min

Carlo Allegri | ReutersIt may not have increased by much, and it's rising from an all-time low, but for the first time during his presidency, Joe Biden's approval rating on Main Street has gone up. The CNBC|SurveyMonkey Small Business Survey for Q4 2022 was conducted Nov. 9-Nov. 16 among nearly 2,600 small business owners. Biden's approval rating still remains heavily partisan: Just 8% of small business owners who are Republican approve of President Biden. "This is the first quarter of Biden's presidency where we've seen any improvement whatsoever in Biden's approval among small business owners, so it's important because it breaks the trend," said Laura Wronski, senior manager of research science at Momentive. Small business owners are more confident this quarter than last, with the overall survey reading moving up modestly and fears of recession declining quarter over quarter.

☆ Inflation is coming down. Here's what that means for your annual pay raise
▼ + stars: | 2022-11-25 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Once you pay people more, it's hard to claw that back even when inflation starts to come back down. Inflation and annual pay are not in a one-to-one relationship. That became clear to many workers last year when their annual merit increases in salary and wages were not anywhere near the four-decade highs for inflation. But Reilly said that to date, the numbers are "solidly at 4%" for both executive and rank-and-file pay increases. Pearl Meyer research indicates that merit increases are a lagging indicator relative to inflation and costs.

☆ Inflation? Recession? Starting Black Friday, holiday shoppers are planning to spend
▼ + stars: | 2022-11-25 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

"People are pretty consistent on how much they expect to spend on holiday shopping," said Laura Wronski, senior manager of research science at Momentive. The survey results reveal the consumer divide in the economy, with spending concerns more prevalent at lower income levels. 1 shopping holiday The survey has consistently found that the hype around shopping holidays is often higher than the actual excitement among consumers. 1 shopping holiday that Americans say they will spend on. One in five (21%) are "most excited" to go shopping on Black Friday, almost double the consumers planning to shop on Cyber Monday (12%).

☆ Why Reality Labs will keep spending billions even as Meta makes the biggest cuts in its history
▼ + stars: | 2022-11-17 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

For tech investors hoping Meta Platforms finds religion on cost cuts as they relate to heavy spending on virtual reality, now is not the time to bet on it. Right now, that means more than $10 billion a year in losses from Reality Labs, but a top Meta VR executive told CNBC this week that the spending will continue. Investors want to see Big Tech rein in spending in what's been a tough stock market and a slowing economy. "But the investments we are making in the core business, and the future business, are the right ones," he said. He stressed that the spending level is a direct byproduct of the level of change the company is chasing.

☆ Passed on investing in FTX, twice, says former Treasury Secretary Steve Mnuchin
▼ + stars: | 2022-11-16 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +4 min

"We looked at investment twice, and passed both times," Mnuchin said at the CNBC Technology Executive Council Summit in New York on Tuesday. I did not expect it would unwind nearly as quickly, and if indeed customer funds were misused those are very serious issues," he said. "We were a bit surprised by the overall level of valuation," Mnuchin said. "You had people doing an investment a day in tech," Mnuchin said at the CNBC event. Though he added that the allegations of misuse of customer funds in the FTX case do point to a foundational principal in financial regulation.

Credit card companies may lower credit limits if you haven't used your card for a while, or if your credit score suddenly drops. Why credit card companies lower credit limitsWhen you apply for a credit card, the credit card issuer looks at your credit and the ability to pay back any outstanding balance. If your credit score suddenly drops, for example, the credit card company might decide to lower your credit limit. How a lower credit limit can hurt your credit scoreYour cards' credit limits factor heavily into the formula that determines your credit score. Your credit limits specifically factor into the second biggest factor of your credit score: your credit balances, or your credit utilization.

☆ Women and family health startup Maven raises $90 million for post-Roe v. Wade world
▼ + stars: | 2022-11-14 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +3 min

Maven, the women and family health startup, has raised $90 million in a new fundraising round, and in a tough environment for venture funding. Maven reached unicorn status last August in a $110 million round right before the bottom dropped out of the tech sector. Maven has benefitted from greater focus on women's health, particularly since the Supreme Court overturned Roe V. Wade. Global family benefits growth and Medicaid are two areas that Maven is prioritizing with the new funding. The family benefits will build off of the virtual platform that grew during Covid and include new features for Maven Wallet, the company's financial reimbursement platform.

☆ It's looking more likely that any recession next year will be shallow and manageable
▼ + stars: | 2022-11-10 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

That's a slowdown from the year-over-year increase of 8.2% in September, and below the 8.0% increase economists surveyed by Bloomberg expected to see. And core CPI, which excludes volatile food and energy prices, saw a year-over-year increase of 6.3% in October, below September's year-over-year increase of 6.6%. This inflation data comes amid concerns of a looming recession, and debates on how bad of an economic downturn it will truly be. Any recession that comes will be mildAs Insider previously reported, a 2023 recession will look unlike any recession Americans have recently experienced, and the latest inflation data and strong jobs report bolster that sentiment. And looking forward, declining inflation levels are likely to shape the Fed's December decision on hiking interest rates.

☆ U.S. likely headed for mild recession in 2023, former Boston Fed President Eric Rosengren says
▼ + stars: | 2022-11-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

A U.S. recession is "quite likely" next year as persistent inflationary pressures force the Federal Reserve to shift interest rates higher than expected, former Boston Federal Reserve President Eric Rosengren said Tuesday. Rosengren told CNBC that the U.S. central bank now looked likely to increase its terminal policy rate — the level at which it will stop raising interest rates — to more than the 5% forecast by investors, pushing the economy into a mild downturn in 2023. "I think it's quite likely the U.S. has a mild recession next year," Rosengren told CNBC's Joumanna Bercetche at a UBS conference in London. Asked to put a figure on the possible terminal rate, Rosengren said: "More than 5.5% would be my expectation." Following the announcement, traders bet the terminal rate would reach 5.09% by May from just over 5% before the meeting.

☆ Elizabeth Warren blasts the 'egregious and embarrassing ethics breaches' among top Fed officials who she says have engaged in 'improper' stock trading for over a year
▼ + stars: | 2022-11-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sen. Elizabeth Warren slammed "improper stock trading" among Fed officials. On Monday, Massachusetts Sen. Elizabeth Warren sent a letter to Federal Reserve Chair Jerome Powell regarding what she called "egregious and embarrassing ethics breaches by top officials at the Federal Reserve System," referring to reports of "improper" stock trading by officials behind closed doors. The scandals predate the October findings — in September 2021, for example, Dallas Fed President Robert Kaplan was found to have made multiple stock trades in 2020, along with Boston Fed President Eric Rosengren. He declined to comment on any pending investigations of Fed officials. Along with looking into potential ethics breaches within the Fed, Warren and other Democratic lawmakers have also raised concerns with the tactics the Fed is using to fight inflation.

☆ U.S. headed for mild recession in 2023, says former Boston Fed president Eric Rosengren
▼ + stars: | 2022-11-08 | 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 EmailU.S. headed for mild recession in 2023, says former Boston Fed president Eric RosengrenFormer President of the Boston Federal Reserve Eric Rosengren says it's "quite likely" that the U.S. will face a mild recession next year as the central bank continues its efforts to rein in inflation.

☆ Where the economy is showing signs of a slowdown near recession levels
▼ + stars: | 2022-11-06 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

The Net Rising Index (NRI) for sales — the percentage of survey respondents reporting rising sales minus the percentage reporting falling sales — peaked at 74% of firms in April 2021. Zoom In Icon Arrows pointing outwardsThe NABE data has both good and bad news for the Fed and companies. "They are still raising wages and still trying to pass along the higher costs," Coronado said. Sixty-nine percent of respondents to the NABE survey indicated all or some costs are being passed on. … You don't just keep raising rates until the economy cracks," Coronado said of the NABE data.

☆ Companies still have way too much office space, and they can't sell it
▼ + stars: | 2022-11-05 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Collin Madden, founding partner of GEM Real Estate Partners, walks through empty office space in a building they own that is up for sale in the South Lake Union neighborhood in Seattle, Washington, May 14, 2021. According to Elizabeth Ptacek, senior director of market analytics at commercial real estate information and analytics company CoStar, there is currently 232 million square feet of surplus commercial real estate up for sub-leasing. A few things we know about corporate real estate: it's a focus of cost-cutting for companies, but it's also probably the last asset you want to sell now in a soft market. It's a bad situation, but she said that for owners of corporate real estate, if the cost of real estate debt is cheap and the balance sheet is solid, sit on the real estate. Ptacek noted that after 2008, the peak in the distressed asset sales wave didn't occur until 2010/2011.

☆ A year after trading scandal, Fed is again under ethics spotlight
▼ + stars: | 2022-11-01 | by ( Michael S. Derby | ) www.reuters.com time to read: +6 min

At the same time, an in-house Inspector General (IG) investigation into the regional Fed trading activities still hasn't been released and it's unclear when it will be. Unresolved in that process are publicly available disclosures for top staff at regional Fed banks. Right now, only disclosures for the Fed chief, members of the Fed's Board of Governors, top central bank staff and regional bank presidents are available. Given the quasi-private nature of the 12 regional Fed banks, there's no formal mechanism to compel those institutions to release this information. The Fed faced some criticism last year for failing to identify the financial trading activity that ensnared the regional bank presidents.

Show more Regular APR 18.99% - 25.99% Variable Editor's Rating 4.8 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Our editor's ratings analyze fees, bonuses, rewards, and benefits to highlight the simplest and most valuable credit cards available. American Airlines introduced its no-annual-fee American Airlines AAdvantage MileUp℠ Mastercard a couple of years ago to target less-frequent flyers on a budget. You'll continue to get the standard American Airlines benefits, such as a free first checked bag on American Airlines domestic itineraries, preferred boarding on American Airlines flights, a 25% savings on American Airlines inflight purchases, etc. American Airlines credit card frequently asked questions (FAQ)What credit score do you need for an American Airlines credit card? Most co-branded American Airlines cards (except the American Airlines AAdvantage MileUp℠ Mastercard) come with early boarding privileges.

☆ A 'catastrophe' is coming for the economy, but it's not recession or inflation, says Secretary of Labor Marty Walsh
▼ + stars: | 2022-10-25 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +3 min

But U.S. Department of Labor Secretary Marty Walsh doesn't see the recent job gains reversing, according to an interview at CNBC's Work Summit on Tuesday. Walsh said in a slower economy, the federal government's infrastructure act will support job growth in sectors including transportation. ... if we did have a downturn in the economy, those jobs will keep people working through a difficult time." From a policy perspective, Walsh expressed disbelief that a higher federal minimum wage remains a contentious issue on Capitol Hill. But Walsh conceded that legislation to increase the minimum wage, which was held up in the Senate, has an uncertain future ahead of the midterm elections.

☆ Luxury hotel booking programs from Amex, Capital One, Visa, and more can get you free elite benefits like room upgrades and on-property credits — here's how
▼ + stars: | 2022-10-25 | by ( Eric Rosen | Tessa Campbell | Read More | ) www.businessinsider.com time to read: +39 min

David Slotnick/Business InsiderMany travel rewards cards offer elite-like hotel benefits when you book with their online portals. The prices through credit card travel portals are often on par with booking directly through hotels. However, it's only available to Capital One Venture X Rewards Credit Card and Capital One Spark Travel Elite cardholders. Bottom lineYou might not have a premium hotel credit card or elite status with one of the major loyalty programs. However, that doesn't mean you can't take advantage of credit card booking portals to enjoy perks like room upgrades, free breakfast, and on-property credits.

Signing up for a new high-yield savings account online can take as little as five minutes. But high-yield savings accounts pay significantly higher rates than the national average, and the interest earned is usually deposited into your account monthly. Compare high-yield savings account optionsShop around for the best high-yield savings account that fits your needs. On your online account, you'll be able to see account balances, make transfers from one account to another, and see your transaction history. There are three main things to consider when choosing a savings account: APY A high APY is especially important if you are looking for a high-yield savings account, rather than a regular savings account at an in-person bank.

The Chase Sapphire Reserve offers insurance and benefits that are useful for frequent travelers. Here's a look at the top features that make the Chase Sapphire Reserve a must-have for frequent travelers. When you make the reservation with the Chase Sapphire Reserve, however, that insurance is a hard pass. In addition, Chase added $10 per month in Gopuff credit to many of its cards through December 2023, including the Chase Sapphire Reserve®. The Chase Sapphire Reserve® has one perk that can save you tens of thousands of dollars should you ever need to use it.

☆ Bostic acknowledges accidental trading that violated Fed's ethics code
▼ + stars: | 2022-10-14 | by ( Michael S. Derby | ) www.reuters.com time to read: +6 min

Under the rules then in place, Fed officials were prohibited from owning stocks in banks overseen by the central bank. INDEPENDENT REVIEWBostic's revised financial statements are the latest development in a broader controversy facing the central bank. At the start of this year, Richard Clarida, who was then second-in-command of the central bank, resigned from his position early amid questions about his trading in 2020. It extended the new ethics restrictions to family members of central bank leaders and senior staff. The Inspector General cleared Powell and Clarida of wrongdoing, but said an investigation of regional Fed trading activity is ongoing.

☆ Bostic acknowledges accidental trades that violated Fed ethics code
▼ + stars: | 2022-10-14 | by ( Michael S. Derby | ) www.reuters.com time to read: +5 min

Bostic explained in a note that accompanied revised financial disclosure forms going back to the start of his tenure as Atlanta Fed president in 2017 that trades violating the ethics code were made by financial advisors. Under the rules then in place, Fed officials were prohibited from owning stocks in banks overseen by the central bank. INDEPENDENT REVIEWBostic's revised financial statements are the latest development in a broader controversy facing the central bank. It extended the new ethics restrictions to family members of central bank leaders and senior staff. The Inspector General cleared Powell and Clarida of wrongdoing, but said an investigation of regional Fed trading activity is ongoing.

☆ Federal Reserve probing Bostic's trading after blackout period transactions
▼ + stars: | 2022-10-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. The Federal Reserve is looking into trades that Raphael Bostic, the head of the central bank's Atlanta district, made during restricted periods. Fed Chair Jerome Powell "has asked the Office of Inspector General for the Federal Reserve Board to initiate an independent review of President Bostic's financial disclosures," a Fed spokesman said. Trading by Fed officials over the past several years has been a hot-button issue. The controversy also led to a revised policy that severely restricts the moves Fed officials can make.

☆ Microsoft's Copilot AI is making rapid progress. Here's what its human leader thinks about it
▼ + stars: | 2022-10-14 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

Put another way, for every 100 lines of code, 40 are being written by the AI, with total project time cut by up to 55%. "After a year of Copilot, about 40% of code was written by the AI where Copilot was enabled," Dohmke said. The GitHub CEO expects more of those Copilot code suggestions to be taken — in the next five years, up to 80%. Now, whether the coding task is related to payment processing or a social media login, most companies — whether startups or established enterprises — put in open source code. "From punch cards to building everything ourselves to open source, to now within a lot of code, AI writing more," he said.

The Free Application for Federal Student Aid, or FAFSA, is a form used to apply for financial aid. If you're a dependent, you'll need your parents' financial information in addition to your own. Gather your personal financial informationBefore you start filling out the FAFSA, you should gather your basic personal financial information. You log in with a government ID called the Federal Student Aid ID. Work with your school's financial aid office to make up the rest.

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