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Crooks lived in the Pittsburgh suburb of Bethel Park, about an hour’s drive south of the Trump rally where law enforcement officials say he fired at the former president. Crooks graduated from Bethel Park High School in 2022, according to a local media report and a video of the school’s graduation ceremony. Law enforcement descended on Crooks’ family home on a quiet street in Bethel Park on Saturday night. Explosive material was found in his residence, as well as in his car, law enforcement officials familiar with the investigation told CNN. Bethel Park is a predominantly white suburb that is wealthier than the surrounding Pittsburgh metro area.

Persons: Thomas Matthew Crooks, Crooks, Donald Trump, —, haven’t, Jason Kohler, Kohler, Sarah D’Angelo, ”, Trump, ” Crooks, –, “, Anna Moneymaker, Crooks ’, Matthew Crooks, Thomas Crooks, CNN Crooks, Marcie Grimm, ” Grimm, Dan Grzybek, Joe Biden, Grzybek, ” Grzybek, Andrew Bianco, you’d, ” Bianco, CNN’s Yahya Abou, Ghazala, Audrey Ash, Scott Glover, Allison Gordon, Holmes Lybrand, Sean Lyngaas Organizations: Bethel Park , Pennsylvania CNN, CNN, Republican, Democratic, Trump, Bethel Park High School, Secret, Commission, Progressive, Democrat, Secret Service, Bethel Park Skilled Nursing, Rehabilitation Center Locations: Bethel Park , Pennsylvania, Pittsburgh, Bethel Park, ”, Butler , Pennsylvania, Democratic, Allegheny County, Crooks ’, BlackRock, Bethel

☆ Premarket trading: US markets are steady following assassination attempt on Trump
▼ + stars: | 2024-07-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —US stock futures barely budged after an assassination attempt on former President Donald Trump on Saturday, signaling calm in the markets as Trump survived the incident. Dow futures rose 65 points, or 0.2%, while S&P 500 futures rose 0.1% and Nasdaq Composite futures were unchanged. On Saturday, the former president was shot in the ear during his rally in Butler, Pennsylvania, in what the FBI says was an assassination attempt. Markets crave stability, and an assassination attempt against the presumptive nominee might have thrown that into chaos. But Trump appears to have escaped with mostly superficial injuries, and the market’s thesis of the race hasn’t changed: Trump remains the frontrunner to become the next president.

Persons: Donald Trump, Trump, Joe Biden, Morgan Stanley, Goldman Sachs Organizations: New, New York CNN, Dow, Nasdaq, Trump, Republican National Convention, GOP, Republican, CNN, BlackRock Locations: New York, Butler , Pennsylvania, Milwaukee

☆ Billionaire BlackRock CEO Larry Fink runs the world's largest asset manager. Here's how he became one of the most powerful people in finance.
▼ + stars: | 2024-07-13 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

In 1986, he took a hit when his department lost roughly $100 million from incorrectly predicting interest rates would rise when they in fact fell. A bad bet on interest rates cost Fink's department at First Boston $100 million in 1986. APYears later, in his 2016 commencement address to graduates of UCLA, Fink reflected on the loss. But I was even more upset with myself, because I had become complacent…too sure of what I thought I knew. "We probably should have been fired for the amount of risk we were taking during those times," he once told Crain's.

Persons: Fink, Crain's Organizations: Boston, AP, UCLA

☆ Here are 5 key things we're watching closely in the stock market this week
▼ + stars: | 2024-07-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of our Club rate plays — solar panel company Nextracker , Stanley Black & Decker , and Ford — were our top-performing stocks for the week. Friday also ushered in the start of the second quarter earnings season. Earnings Club name Morgan Stanley reports second-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Nextracker, Stanley Black, Decker, Ford —, Wells Fargo, Morgan Stanley, Abbott, Goldman Sachs, Charles Schwab, JB Hunt, Johnson, Ally, Kinder Morgan, Horton, Huntington, Jim Cramer's, Jim Cramer, Jim, Ted Pick, Adam Galici Organizations: Dow Jones, Nasdaq, Big Tech, PPI, Abbott Laboratories, Libre Rio, Bank of America, PNC Financial, PNC, Pinnacle Financial, Housing, U.S . Bancorp, Northern Trust Corporation, Citizens, United Airlines, Alcoa, Steel Dynamics, Green Realty, Taiwan Semiconductor, Nokia, Infosys Technologies, McLennan Companies, T Bank Corp, Forestar, Novartis, Textron, Netflix, PPG Industries, AAR, American Express, Fifth Third Bancorp, Halliburton, HAL, Comerica, CMA, Financial, Jim Cramer's Charitable, CNBC Locations: Wells, BlackRock, BLK, U.S, Marsh, Davos, Switzerland

☆ Earnings in the week ahead could be the next catalyst for a broadening market
▼ + stars: | 2024-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

IWM 5D mountain iShares Russell 2000 ETF Next week's earnings results will help investors glean whether that rotation trade is sustainable. The Dow Jones Industrial Average, which is weighted more toward the real economy than is the S & P 500 and Nasdaq, rose to a new record above 40,000. According to FactSet consensus estimates, S & P 500 companies are set to post blended earnings growth of 9.2% in the second quarter. "It's not unthinkable to see us exiting this year at 5,800 on the S & P," he said. This follows a difficult 2Q, when 75% of Large Cap Core managers trailed the S & P 500," Palfrey wrote.

Persons: Patrick Palfrey, Hogan, Keith Buchanan, Buchanan, Palfrey, David Sekera, Quincy Krosby, Goldman Sachs, Morgan Stanley, Huntington Organizations: Nasdaq, UBS, Investors, Riley, Dow Jones, Globalt Investments, Riley Securities, Big Tech, Core, LPL, BlackRock, Bank of America, Taiwan Semiconductor, Price, Retail, Hunt Transport Services, State, PNC Financial Services, UnitedHealth, United Airlines, Discover Financial Services, U.S . Bancorp, Johnson, Citizens Financial Group, Philadelphia Fed, Netflix, T Bank, KeyCorp, American Express, Halliburton, Fifth Third Bancorp, Regions Locations: Nasdaq, NAHB, Horton, Blackstone, Taiwan

☆ Retirement Reality Bites for Gen X
▼ + stars: | 2024-07-12 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetirement Reality Bites for Gen XMore americans say they are on track with their retirement savings this year than in 2023, according to a new BlackRock survey. Senior personal finance correspondent Sharon Epperson explains that optimism is not shared across generations.

Persons: X, Sharon Epperson Locations: BlackRock

☆ Welcome back to Wall Street earnings season
▼ + stars: | 2024-07-11 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +6 min

But for now, we're turning to Wall Street in our big story, as big banks gear up to report their earnings. The big storyEarnings to watchMomo Takahashi/BIJust like that, it's Wall Street earnings season once again. Wall Street banks have been waiting for M&A, IPOs, and other fee-generating corporate dealmaking to come roaring back for two years. In May, the CEO shocked Wall Street by saying he plans to step down in the next five years . Will banks start charging for everyday consumer products like checking accounts?

Persons: —, Joe Biden's, Sen, Peter Welch, Biden, Momo Takahashi, Wells, Goldman Sachs, Morgan Stanley, Kaja Whitehouse, Jamie Dimon's, Kaja, Jefferies, Jamie Dimon, Wall, Marianne Lake, We're, Larry Fink, Jenny Chang, Rodriguez, Neil Dutta, Tesla's, Elon Musk, Jeff Bezos, Rich Guy, Alyssa Powell, Andrei Cojocaru, David Zaslav, isn't, Joe, Zaslav, Jordan Parker Erb, Lisa Ryan, Joe Ciolli, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Democrat, Democratic, Hollywood, NATO, Business, showtime, JPMorgan, Citigroup, BlackRock, Bank of America, Getty, Warner Bros, Discovery, Air Lines, PepsiCo, Bureau of Labor Statistics Locations: New York, Chicago, London

☆ Japan's stock market rally will continue in the second half, but with a key shift, BlackRock says
▼ + stars: | 2024-07-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The rally for Japanese stocks is set to continue in the second half of the year, but the best way for American investors to participate in it could change, according to the BlackRock Investment Institute. The firm said in its midyear outlook that being overweight on Japanese stocks is one of its highest conviction calls. Many Americans have already been rushing into funds that track Japanese stocks, part of a broader increase in foreign investor money . HEWJ YTD mountain Currency-hedged Japanese funds like the HEWJ are outperforming their unhedged counterparts in 2024. Goldman Sachs Asset Management said in its midyear outlook that "in Japan, we expect strong equity market performance to continue being driven by structural changes."

Persons: Wei Li, Li Organizations: BlackRock Investment Institute, U.S ., BlackRock, Goldman, Management Locations: U.S, BlackRock, Japan, bullish

☆ Retirement readiness: 60% of Gen X feel on track with their retirement savings, survey finds
▼ + stars: | 2024-07-10 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetirement readiness: 60% of Gen X feel on track with their retirement savings, survey findsMore Americans say they are on track with their retirement savings this year than last, according to a new survey by BlackRock. Yet, that optimism is not shared across generations. CNBC’s Sharon Epperson joins 'Squawk Box' with more.

Persons: CNBC’s Sharon Epperson Organizations: BlackRock

☆ Investors poured $1.6 billion into this riskier corner of the bond market in June, State Street says
▼ + stars: | 2024-07-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

However, investors were also content to ramp up credit risk, directing more than $1.6 billion into ETFs with underlying bank loans and collateralized loan obligations, or CLOs, State Street found. Big institutional investors can purchase bank loans — which lending institutions make to companies — and benefit from the loans' floating coupon rate. CLOs are similar to bank loans: These are pools of floating rate loans made to businesses, which can be non-investment grade. Bank loans and CLOs tend to have less price sensitivity to changes in rates, meaning they are short duration. "Rate policy is evolving and uncertain, and it's unlikely to be less cloudy as we get into the summer months."

Persons: Matthew Bartolini, CLOs, Janus Henderson, Bartolini Organizations: State, SPDR, SPDR Americas Research, Street Global Advisors, CLOs, AAA, SEC, Janus Henderson AAA CLO, CNBC, Bank Locations: CLOs, SPDR Americas, BlackRock

☆ These types of ETFs could prove winners in the second half
▼ + stars: | 2024-07-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

The best-performing exchange-traded funds in the second half will likely be decided by broader shifts in the markets and economy. Even with mounting uncertainty, however, there are some types of ETFs that could emerge as winners. Equities A handful of stocks were big winners in the first half, and some narrowly focused ETFs were able to ride that wave. Single-stock funds tied to Nvidia have also seen heavy interest, including the GraniteShares 2x Long Nvidia ETF (NVDL) . However, Hougan said he didn't think that omission would be a big hurdle for ETF investors.

Persons: Michael Arone, Arone, Jay Jacobs, Jacobs, Todd Sohn, bullish, we're, Sohn, Matt Hougan, Hougan Organizations: Federal Reserve, U.S, SPDR, State Street Global Advisors, Nvidia, Microsoft, NYSE Technology, iShares, Digital Infrastructure, Real, U.S . Tech, Blackstone Senior Loan, Loan Fund, New, Bitwise Asset Management, ETH Locations: U.S

The next round of filings for spot ether ETFs with the SEC is due today, part of the ongoing regulatory process required before spot ether ETFs can be launched. One thing's for sure: the launch of spot bitcoin ETFs this year has been a success. That's still true for this year, but two of the top 10 ETF inflows year to date have been into spot bitcoin ETFs: iShares Bitcoin Trust (IBIT) at number four, and Fidelity Wise Origin Bitcoin Trust (FBTC) at number eight. Would 50% of the inflows of the spot bitcoin ETF be a win? We'll talk about this with Matt Hougan from Bitwise Asset Management, one of the applicants for a spot ether ETF.

Persons: That's, iShares, Matt Hougan, Matt, Nate Geraci Organizations: SEC, Nasdaq, Fidelity, Bitcoin, Stock, Aggregate, Blackrock US, Bitwise Asset Management, Edge

Wall Street’s game theoryAs more leading Democrats say privately that President Biden should withdraw from the presidential race, some of the party’s most prominent backers on Wall Street spent the holiday weekend debating what to do next. If they favor calling for him to step back, they discussed what their next moves should be. Wall Street is taking a different approach than Hollywood. (Many are also reportedly irate at Jeffrey Katzenberg, Biden’s campaign co-chair.) And many donors want to maintain their influence within the Democratic Party.

Persons: Biden, Larry Fink, BlackRock, Robert Rubin, Jon Gray, Blackstone, Peter Orszag, Lazard, Blair Effron, Robert Wolf, Barack Obama —, DealBook, Reed Hastings, Barry Diller, Rob Reiner, Abigail Disney, Jeffrey Katzenberg Organizations: Wall, Treasury, Centerview Partners, UBS, Hollywood, Netflix, IAC, Democratic Party

☆ Mark O'Hare became a billionaire after BlackRock acquired his data company. Now he's turning his employees into millionaires.
▼ + stars: | 2024-07-06 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

Preqin employees are getting paid after BlackRock acquired the company for $3.2 billion. Preqin founder Mark O'Hare and his wife will walk away with about $2 billion after taxes. AdvertisementSome Preqin employees are poised for a big payday after BlackRock acquired the data company for $3.2 billion. The acquisition, announced on June 30, has made Preqin founder Mark O'Hare and his wife billionaires. O'Hare owns nearly 80% of Preqin through Valhalla Venture and will gain about $2.6 billion from the acquisition, Fortune reported.

Persons: Mark O'Hare, —, Fortune Organizations: BlackRock, Service, O'Hare, Valhalla Venture, Business

☆ Elon Musk and Tesla are on the rise after a brutal start to the year
▼ + stars: | 2024-07-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .

Persons: —, I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London

Robert Smith, founder, chair and CEO of Vista Equity Partners, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. With this debt, Vista could generate strong returns if Pluralsight's business performed well, according to the sources. They also show that Vista propped up Pluralsight by allowing it to borrow $162.5 million from its private equity fund. "The company experienced rapid deterioration of its business in the first quarter," Vista wrote in a fund document dated May 28. In a May 28 update to fund investors, Vista said Pluralsight's equity value went from $1.5 billion to zero in the first quarter of 2024.

Persons: Robert Smith, Lucy Nicholson, Vista, Pluralsight, Goldman Sachs, Golub, Gustavo Schwed, NYU Stern, It's, Steven Kaplan, Kaplan, Chris Walters, Aaron Skonnard, Walters, Skonnard, KBRA, Milana Vinn, Greg Roumeliotis, Dave Gregorio Organizations: Vista Equity Partners, Milken Institute Global Conference, REUTERS, Vista Equity, Reuters, Cloud, U.S . Securities, Exchange Commission, Vista, NYU, Chicago Booth School, Business, Thomson Locations: Beverly Hills , California, U.S, Vista, BlackRock, Oaktree, Pluralsight, New York

☆ BlackRock announces $3.22 billion acquisition of Preqin
▼ + stars: | 2024-07-01 | 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 EmailBlackRock announces $3.22 billion acquisition of PreqinCNBC's Leslie Picker joins 'Squawk Box' to report on BlackRock as the New York-based company announced its plan to acquire private capital database provider Preqin for $3.22 billion.

Persons: CNBC's Leslie Picker Organizations: BlackRock Locations: BlackRock, New York

☆ Taiwan tops Asia's best-performing stock markets so far in 2024 — Japan is No. 2
▼ + stars: | 2024-07-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

A screen displays stock figures at the Taiwan Stock Exchange Corp. headquarters in Taipei, Taiwan, on Monday, Jan. 15, 2024. The Taiwan Weighted Index has surged 28% so far this year, powered by stocks along the AI value chain. While Taiwan may lead Asian markets, Japan seems to be the favored market going forward, among analysts who spoke to CNBC. While most Asian markets are in positive territory year-to-date, three stock markets — Thailand, Indonesia and the Philippines — fell into negative territory. The CME FedWatch tool indicates that 61% of traders expect the Fed to cut rates by 25 basis points in the September meeting.

Persons: Foxconn —, Hai Precision Industry —, Rahul Ghosh, Rowe Price, Ghosh, Ben Powell, Powell, Neel Kashkari, Ken Orchard Organizations: Taiwan Stock Exchange Corp, Bloomberg, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, Intelligence, Nikkei, CNBC, BlackRock Investment Institute, Bank of Japan, Federal, U.S, Fed, Minneapolis Federal Locations: Taipei, Taiwan, Asia, Pacific, Japan, BlackRock, Thailand, Indonesia, Philippines, Jakarta, Philippine, U.S

☆ Google invests in BlackRock-backed Taiwanese solar developer to boost energy capacity amid AI boom
▼ + stars: | 2024-07-01 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

The aerial view reveals the mutual benefits of combining solar energy production and agricultural land use. Farmers can lease their land to solar energy developers, diversifying their income streams while maintaining agricultural activities on the remaining areas. Google will partner with BlackRock to develop a 1 gigawatt pipeline of new solar capacity in Taiwan, the U.S. tech giant announced Monday as it seeks to boost energy capacity and cut carbon emissions amid the artificial intelligence boom. The new solar capacity will help power Google's data centers and cloud region in Taiwan, the press release said. Some of the clean energy capacity will also be offered to Google's chip suppliers and manufacturers in the region, it said.

Persons: Amanda Peterson Corio Organizations: BlackRock, Google, New Green Power, Taiwan Renewable Energy Locations: Taiwan, U.S, BlackRock

☆ The Big Number: $5 Billion
▼ + stars: | 2024-06-28 | by ( Santul Nerkar | ) www.nytimes.com time to read: +1 min

Volkswagen, the German car company, said this week that it would invest up to $5 billion in Rivian, the American electric vehicle manufacturer that makes electric pickup trucks, sport utility vehicles and delivery vans. The deal will help Rivian, which has never turned a quarterly profit, make more electric vehicles and help convince investors of its stability. Rivian, which was founded in 2009 as Mainstream Motors, had billions in investments by 2021, including from Amazon, BlackRock and Ford. But as the case with many new electric vehicle companies, Rivian has also experienced hiccups in trying to ramp up to production, made harder by supply chain issues during the pandemic. In March, Rivian said it would pause construction of a $5 billion factory in Georgia to save money.

Persons: Rivian Organizations: Volkswagen, Motors, Amazon, BlackRock, Ford Locations: Rivian, Georgia, Normal

☆ Nvidia challenger Groq is set to double its valuation to $2.5 billion in fresh funding round led by Blackrock
▼ + stars: | 2024-06-26 | by ( Ben Bergman | ) www.businessinsider.com time to read: +1 min

It is set to be valued at $2.5 billion in a funding round led by Blackrock, according to sources. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGroq, a scrappy challenger to Nvidia that is developing chips powering artificial intelligence, is set to be valued at $2.5 billion in a new funding round led by Blackrock, according to multiple sources. Groq has been rumored to be raising a new round and recently hired Morgan Stanley to help raise $300 million in new funding, the Information previously reported last month. The valuation and lead investor have not been previously reported.

Persons: Groq, —, Morgan Stanley Organizations: Blackrock, Service, Nvidia

☆ Here's where BlackRock sees opportunity in municipal bonds
▼ + stars: | 2024-06-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Municipal bonds are a great way for investors to grab some tax-advantaged income, they'll just have to be nimble, according to BlackRock. "Municipal bonds offer investors high after-tax income with less volatility compared to other fixed income assets and remain a good diversifier to equity and equity-like risk," Carney said. Where BlackRock sees opportunity Within muni bonds, BlackRock specifically likes focusing on states that primarily rely on consumption taxes. Those states that focused on personal income taxes, like California and New York, experienced much greater declines, he said. Lastly, essential revenue bonds tend to be more durable since they are drawing on revenue.

Persons: they'll, Sean Carney, Carney, BlackRock, munis Organizations: muni, BlackRock, Bond, Reserve, AA Locations: BlackRock, Florida , Nevada , Tennessee, Washington, California, New York

☆ Final Trades: Keurig Dr Pepper, Gilead, BlackRock & JEPQ
▼ + stars: | 2024-06-25 | 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 EmailFinal Trades: Keurig Dr Pepper, Gilead, BlackRock & JEPQThe Investment Committee discuss their top stocks to watch for the second half.

Persons: Dr Pepper Organizations: Investment Locations: Gilead, BlackRock

☆ BlackRock directors keep seats at six funds in proxy battle with Saba
▼ + stars: | 2024-06-25 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

"Based on the preliminary results from last week's shareholder meetings, it is clear that shareholders have rejected both Saba's nominees and its efforts to displace BlackRock as investment advisor to the Funds," BlackRock said in a statement. Saba, run by prominent investor Boaz Weinstein, and BlackRock, the world's biggest asset management company with more than $10 trillion in assets under management, have been locked in battle for months over the future of 10 BlackRock closed end funds. Saba wants investors to elect its nominees to the BlackRock funds' boards and fire BlackRock as manager at some of them. Some $1.4 billion in value could be unlocked at the funds by cutting the funds' discount to their net asset value, he has said. The 10 BlackRock funds jointly oversee roughly $10 billion in assets.

Persons: Brendan McDermid, BlackRock, Boaz Weinstein, Saba, Weinstein, Svea Herbst, Bayliss, Josie Kao Organizations: REUTERS, BlackRock, Saba Capital Management, Services, BIGZ, ISS, Svea, Thomson Locations: BlackRock, New York City, U.S, Saba

☆ The fertility crisis is here and it will permanently alter the economy
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.

Persons: it’s, Louis, Simona Paravani, ”, Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “

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