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☆ Trump's plan to build more homes on federal land could push prices higher, UBS says
▼ + stars: | 2024-11-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

Trump's plan to transform federal land into housing will be costly, given minimal existing infrastructure, UBS says. Those policies, plus a set of potentially inflationary proposals, could drive up both home prices and mortgage rates, they say. Trump's plan to transform federal land into more housing seems particularly challenged, the analysts say. The higher rates will likely continue the housing lock-in effect, where existing homeowners prefer to remain locked in at their current lower rates. In prepared remarks on Thursday, Fed Chair Jerome Powell said the US is in no hurry to cut rates, signaling that mortgage rates could stay higher for longer.

Persons: —, Donald Trump's, homeownership, Trump, JD Vance, Vance, homebuyers, Jerome Powell Organizations: UBS, Service, Builders

☆ Hundreds of hotel workers go on strike at a casino near the Las Vegas Strip
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: +4 min

Hundreds of hotel workers at a casino near the Las Vegas Strip went on strike just before dawn Friday after a long and highly publicized fight for a new contract. The strike at Virgin Hotels Las Vegas marks the first open-ended strike in 22 years for the Culinary Workers Union, the largest labor union in Nevada, with about 60,000 members. Virgin hotel workers are walking out RIGHT NOW at Virgin Las Vegas for a fair contract! "Workers at Virgin Las Vegas deserve a first-class contract with fair wage increases, and they are organized and ready to strike for it." Culinary Union members last went on strike in 2002 for 10 days at the Golden Gate hotel-casino in downtown Las Vegas.

Persons: Ted Pappageorge, Pappageorge, Bethany Khan Organizations: Vegas, Virgin Hotels, Culinary Workers Union, Virgin, Virgin Las, Culinary Union, Workers Locations: Virgin Hotels Las Vegas, Nevada, Virgin Las Vegas, Vegas, Golden, Las Vegas

☆ CNBC Daily Open: Powell’s comments gave investors a reality check
▼ + stars: | 2024-11-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Breaking from Wall Street, Asia-Pacific stocks mostly rose on Friday. On a quarterly basis, GDP rose 0.2%, in line with estimates from a Reuters poll, but that's lower than the second quarter's 0.5% increase. China retail sales pick back upChina's retail sales in October rose 4.8% year on year, reported the National Bureau of Statistics.

Persons: Jerome Powell, Powell Organizations: US Federal Reserve, Music, Fair, CNBC, Trump, Nikkei, CSI, U.S . Federal, National Bureau of Statistics, Nvidia, Citi Locations: Dallas , Texas, Street, Asia, Pacific, China

☆ The fight over Jerome Powell puts Elon Musk at odds with Wall Street
▼ + stars: | 2024-11-15 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +8 min

There's little appetite on Wall Street for undermining the central bank or ousting Jerome Powell. On Friday, billionaire Elon Musk endorsed a suggestion to let the president control the Federal Reserve, which is run by Chair Jerome Powell. Advertisement"He seems to be someone who has the ear of the president," Mark Spindel, an investment manager who co-wrote a history of Fed independence, told Business Insider of Musk's influence. Many Wall Streeters are concerned that undermining Fed independence would undercut investors' faith in the stock and bond markets. Trump is, Siegel said, extremely attuned to the stock market and uses it as a barometer of his success.

Persons: Elon Musk, Jerome Powell, —, Powell, Mark Spindel, Trump, Jeremy Siegel, he'd, Stocks, reappoint Powell, Scott Bessent, Peter Orszag, Obama, Lazard, Wharton's Siegel, Gallup, Siegel, Spindel, Musk's, Volodymyr Zelenskyy Organizations: Federal Reserve, Service, Wall Street Journal, Wharton School, University of Pennsylvania, Fed, Trump, Bloomberg, Federal, Treasury, Congress Locations: Powell, Europe, Japan, U.S, Trump

☆ Opinion | Yes, Most People Probably Should Hold Off on Claiming Social Security
▼ + stars: | 2024-11-15 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

Many readers said that while they didn’t absolutely need to start collecting Social Security early, they calculated that they would come out ahead by investing some or all of their checks in the stock market rather than waiting. I agree with Peggy Bishop that some people simply have to collect Social Security at the first opportunity. They don’t have enough savings to tide them over to age 70 without Social Security. Saying you should delay claiming Social Security when possible is not the same as saying you should keep working past the breaking point of body and soul. Readers brought up other cases where claiming early might be the right decision, although it’s impossible to generalize.

Persons: it’s, Peggy Bishop, Teresa Ghilarducci, you’ve, you’ll, Readers, you’re Organizations: Social, Social Security

☆ CNBC's Inside India newsletter: India's growing wealth divide
▼ + stars: | 2024-11-15 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +9 min

The rise in India's income and wealth inequality is not a result of the poor getting poorer, Sumedha Dasgupta, senior analyst at the Economist Intelligence Unit (EIU) flags. India's income gap (which is the difference in wages earned between different demographic) comes alongside a worsening wealth divide too. Instead, the phenomenon comes as the "rich are getting much richer at a faster rate," she told CNBC's Inside India. India's 3 household groupsA more pressing issue brought on by India's wealth and income divide is the emergence of different categories of households with distinct standards of living. Unequal education opportunitiesThe EIU's Dasgupta attributes India's vicious wealth and income gap cycle in large part to mismatched education opportunities.

Persons: Knight Frank, Dasgupta, CNBC's, Shumita Deveshwar, Deveshwar Organizations: Economist Intelligence Unit, Blume Ventures, Oxfam, Private, Department of School Education, Global Commons Alliance, TS Lombard Locations: India, United States, Brazil, South Africa, Venture, Saharan Africa, Indian

☆ Trump plan to 'end all taxes' on overtime pay would benefit millions of Americans, but it's going to be uphill battle
▼ + stars: | 2024-11-15 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +6 min

Details on the proposal are scant and some Democrats have called the overtime tax promise "as fake as his tan." "As part of our additional tax cuts, we will end all taxes on overtime," he said at a rally in Tucson, Arizona. Among these, 82.1 million were hourly workers and 15.6 million were salaried workers, the report said. Meanwhile, about 7% of hourly workers and 70% of salaried workers do not qualify for FLSA, the report said. For example, would it be designed as just an income tax or would it be a payroll tax exemption as well?

Persons: Donald Trump, Trump, Karoline Leavitt, Vance, There's, Russ Fulcher, Joseph Rosenberg, FLSA, John Ricco, Alex Muresianu, Muresianu, Rosenberg Organizations: Cobb Energy Performing Arts Centre, Republican, President, Trump, Fair Labor, Brookings Tax, Department of Labor, FLSA, Yale, Lab, Tax Foundation, Social Security Locations: Atlanta , Georgia, U.S, Tucson , Arizona, Idaho, Alabama, Wisconsin, DOL

☆ ‘Just pure uncertainty.’ Small businesses are hopeful and fearful ahead of Trump’s second term
▼ + stars: | 2024-11-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +12 min

However, the post-election environment is hitting different this time around for many small business owners, such as Barrel-Art’s Michael Prieto, and leaving them wondering what comes next. For business owners who already were unsettled about the economy or its direction prior to the election, navigating the months and years ahead could be even more precarious, he added. Running leaner, hoping for cheaper moneyIn the months leading up to the election, Prieto was taking a wait-and-see approach. Michael Prieto, owner of Barrel-Art, in his shop in Newport News, VA, on November 13. Michael M. Santiago/Getty ImagesSmall business owners, by their nature, are optimistic, he said.

Persons: Michael Prieto, Donald Trump, John Arensmeyer, they’ve, ” Arensmeyer, “, ”, Art’s Prieto, Prieto, America ”, “ It’s, he’d, We’ve, Arensmeyer, Michael M, I’ve, Clifton Broumand, Janna Rodriguez, Rodriguez, she’d, can’t, JD Opel, he’s, ” Opel, ” JD Opel, — Opel, “ I’ve, Trump, Jeff Wood’s, ” Wood, we’ve, it’s, Marc Marcuse, Marcuse Organizations: CNN, Small, Economic, Shipping, Port, Getty, Machine, Corp, Opel, Reel Management, Management’s, Republican, White Locations: America, Newport News, Newark, New Jersey, China, Maryland, Freeport , New York, Evansville , Indiana, Jeff Wood’s Coldwater, Florida , Georgia, Utah, Pennsylvania, Los Angeles, Florida

☆ How Democrats can still flex power in Trump's Washington: From the Politics Desk
▼ + stars: | 2024-11-14 | by ( The Politics Desk | ) www.nbcnews.com time to read: +11 min

In today’s edition, senior national political reporter Sahil Kapur examines the way Democrats can still exert some power in Donald Trump's Washington. How Democrats can still flex power in Trump’s WashingtonBy Sahil KapurRepublicans have won full control of Washington, but Democrats will retain two key levers of power to shape legislative outcomes in Donald Trump’s second term. That margin is slimming further as Trump plucks House members for administration jobs. The last two years showed how chaotic and dysfunctional this GOP-controlled House can be, even when the stakes are low. The Ethics Committee has jurisdiction over only sitting House members.

Persons: Sahil Kapur, Donald, Donald Trump's Washington, Matt Gaetz's, Robert F, Kennedy Jr, Donald Trump’s, Robert Garcia, “, Sen, John Thune, ”, Chris Van Hollen, Van Hollen, Patty Murray, Richard Hudson, Trump, Donald Trump, it’s, it’ll, Tony Gonzales, Matt Gaetz, Ryan Nobles, Julie Tsirkin, Frank Thorp V, Kate Santaliz, Gaetz, Justice Department —, they’ll, Joni Ernst, John Curtis, → Trump, Berkeley Lovelace Jr, Dasha Burns Trump, Kennedy, Bill Cassidy, Tulsi Gabbard, Pete Hegseth, Elon Musk, Vivek Ramaswamy’s, 🗞️, Tim, lea Organizations: NBC, White House, Capitol, Republicans, Health, Human Services Department, Sahil Kapur Republicans, Trump plucks, ”, Republican, Senate, GOP, House Republican, Justice Department, NBC News, Committee, Punchbowl News, RFK, Human Services, Department of Health, Food and Drug Administration, Education, Labor, Pensions, “ RFK, Trump, Elon, of Government, Cabinet Locations: Donald Trump's, Trump’s Washington, Washington, “, Texas, Florida, Congress, Iowa, Utah, Elon, usk

President-elect Donald Trump on Thursday picked Robert F. Kennedy Jr., an anti-vaccine activist who dropped out of the 2024 presidential race and endorsed Trump, to lead the Department of Health and Human Services. "I am thrilled to announce Robert F. Kennedy Jr. as The United States Secretary of Health and Human Services (HHS)," he wrote. "For too long, Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation, and disinformation when it comes to Public Health." Donald Trump Jr. also shared the news on X. Azar replaced the first Trump-appointed health secretary, Tom Price, who resigned over his use of private jets for government business, costing U.S. taxpayers hundreds of thousands of dollars.

Persons: Donald Trump, Robert F, Kennedy Jr, Trump, Donald Trump Jr, Kennedy, Trump “, ”, —, Ben Carson, Trump's, Bobby Jindal, Sen, Bill Cassidy, “, Richard Besser, “ I’m, ” Besser, Alex Azar, Azar, Tom Price Organizations: Department of Health, Human Services, United, Health, Public Health, Trump, HHS, for Disease Control, Food and Drug Administration, National Institutes of Health, Centers, Medicare, Services, Children’s Health Defense, Louisiana Gov, state's Department of Health, Hospitals, Education, Labor, Pensions, “ RFK, FDA, NBC News, U.S, CNBC Locations: U.S

☆ Wholesale inflation heated up again last month, reversing recent progress
▼ + stars: | 2024-11-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

CNN —US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. Still, one potential favorable sign for inflation-weary consumers: Wholesale food prices dropped 0.2% for the month. FactSet consensus forecasts called for a 0.2% monthly gain and for the annual rate to heat up to 2.3%. Economists projected a 0.2% monthly gain and a 3% annual rate. Thursday’s PPI trajectory mirrored that seen in the latest Consumer Price Index data released Wednesday.

Persons: Price, Eugenio Aleman, Raymond James ’, Thomas Simons, Jefferies, ” Simons, ” Oren Klachkin, Donald Trump’s, ”, Christopher Rupkey, Rupkey Organizations: CNN, of Labor Statistics, PPI, Federal Reserve, “, CPI, Nationwide

☆ Fed’s Powell: Rate cuts are still underway
▼ + stars: | 2024-11-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Powell said more rate cuts are likely underway because the economy’s current trends and dynamics are expected to remain in place, at least in the short run. “We are moving policy over time to a more neutral setting,” Powell said in prepared remarks for an event in Dallas. It’s also too soon for Fed officials to conclude that October data is indicative of any new trend. While additional hot inflation reports could be factored in to the Fed’s decisions, officials are also looking at the US labor market closely. There’s also been tension between Trump and Powell, whom the president-elect first nominated in 2017 to steer the central bank.

Persons: Jerome Powell, Powell, ” Powell, Donald Trump, Trump’s, It’s, Price, “, —, There’s Organizations: Washington CNN — Federal, Republican, Fed Locations: Dallas, stoke, Trump

☆ High grocery prices got droves of Americans to vote for Trump but they shouldn’t expect to pay less over the next four years
▼ + stars: | 2024-11-14 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

With some of these pressure points softening, food prices have cooled to rates comparable to before the pandemic. “Grocery prices have skyrocketed,” he said. “Until we can — if we can — fix climate change, there’s no way that food prices can come down,” he told CNN. In the past, grocery prices have come down primarily when “the economy is under duress” and people don’t have enough money to pay for groceries. Absent these kinds of scenarios, Trump is unlikely to get the actual food prices we pay back to where they were during his first term.

Persons: Joe Biden, Donald Trump, Trump, ”, “, ” Trump, “ That’s, That’s, Phil Lempert, Vance, Lempert, Leo Feler, Feler, it’s “ Organizations: New, New York CNN, AP VoteCast, New York Economic Club, ”, Trump, CNN, University of California Locations: New York, Ukraine, Russia, Brazil, Mexico, Florida, California, China, Los Angeles

☆ The US-China tech race is moving from chips to the raw materials they're made of
▼ + stars: | 2024-11-14 | by ( Huileng Tan | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

In the race against the US for global tech supremacy, China has the upper hand in at least one critical area: rare earths. AdvertisementFor more than a year, Beijing has slowly been tightening its grip on critical minerals and rare earths. Now, there are fears that China could tighten the global rare earths supply chain even more. China's rare earth dominanceChina has long dominated the rare earths market due to supply, low labor costs, and lax environmental standards. In 2022, the US Department of Defense awarded $45 million to MP Materials for rare earth oxide processing, and in 2023, it awarded over $288 million to Lynas USA to set up commercial-scale rare earth oxide production facilities.

Persons: Deng Xiaoping, —, Rick Waters, Donald Trump's, Louise Loo, Zongyuan Zoe Liu, Chris Tang, Nick Vyas, USC Marshall's Randall R, Vyas, he's Organizations: European Union, World Trade Organization, US Department of Defense, Materials, US, White, Nvidia, Taiwan Semiconductor Manufacturing, Oxford Economics, Greater China, Council, Foreign Relations, Soviet, Bloomberg, AMD, USC, Kendrick, Supply Chain Institute, Bureau of Industry, Security Locations: China, US, Beijing, Japan, USA, Eurasia, Washington, Taiwan, Greater, Soviet Union, North Korea, North Vietnam

☆ High rates of preterm birth and infant deaths get the US another D+ grade: ‘It’s a travesty’
▼ + stars: | 2024-11-14 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +14 min

Then, less than six hours after giving birth, O’Neil was wheeled through the labor and delivery unit to go home. Racial disparities persist, she added; for Black people, the preterm birth rate is 1.5 times higher than the rate among all other babies. Many of the regions with high preterm birth rates are maternity care deserts, Williams said. The US cities with high preterm birth rates also are “areas where there are many chronic conditions and patients living with a greater number of things like hypertension, diabetes, obesity – those are all drivers of preterm birth as well,” Williams said. “Every pregnant woman who lives in a maternal health care desert should be provided with access to a health care app that is monitored by remote providers.

Persons: CNN —, –, Ashley O’Neil, O’Neil, Jorge, “, ‘, Vinson, ” O’Neil, ”, Amanda Williams, Williams, ” Williams, Gilbert, ‘ We’re, Lori Tremmel Freeman, prematurity, We’re, ” Freeman, Amanda Shafton, ” Shafton, Telehealth, ’ O’Neil, Kolin, Ashley ONeil, I’ll, ’ ” Kolin, don’t, O’Neil’s, Dr, Sanjay Gupta Organizations: CNN, US Centers for Disease Control, Dimes, United, Detroit, Cleveland, Affordable, Medicaid, National Association of County, City Health, Hospitalist, “, OB, CNN Health Locations: Maryland, ”, United States, Mobile , Alabama, Ramapo , New York, Irvine , California, Gilbert , Arizona, NICU, Kolin

☆ Hollywood Is Leaving Los Angeles: Remote Work Comes to TV, Movies
▼ + stars: | 2024-11-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +14 min

AdvertisementLately, creative workers are increasingly chasing their Hollywood dreams in production hubs far from Hollywood. FilmLA, which issues permits for production in the region, found that Greater Los Angeles' share of US-produced TV and film projects declined from 23% in 2021 to 18% last year. Brin said Lexington had attracted 30 film and TV projects so far this year, representing more than $2 million in local spending. Actually being on a set is only one part of entertainment production. While the power of Los Angeles is dispersing, no single "new Hollywood" is coming to take its place.

Persons: Joe Gallegos Jr, he'd, Bailee Madison, Lukasiak, Pat Boone, Gallegos, JJ Abrams, HBO Max —, he's, It's, Patrick Adler, Taner Osman, couldn't, Tiffany FitzHenry, Lisa Brin, Brin, Noah Hawley, Maddy Bilder, Yorgos, Guy, Ryan Gosling, Emily Blunt, Tyler Mitchell, I've, Bilder, Adler, Otis, FitzHenry, hasn't, Keisha Perry, Cedric, I'm, She's, Lucia Moses Organizations: Netflix, HBO, of Labor Statistics, Westwood Economics, Planning Associates, Dallas, Miami, Hollywood, Bureau of Labor Statistics, Marvel, Otis, Creative, Lex Studios, Austin, Austin Film Society, Southwest, Sony, Universal Pictures, Ampere, Technology, ScreenIt, LA, Westwood, Gallegos, Business Insider's Media Locations: New Mexico, Los Angeles, Albuquerque, La La, Hollywood ., America, California, Atlanta, Hollywood, LA, Georgia, Kentucky, Lexington, New York, Ireland, Budapest, South Africa, Hungary, Australia, North America, Saudi Arabia, Miami

☆ Amazon's new discount section 'Haul' looks like a Temu version of Temu
▼ + stars: | 2024-11-14 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

I've gotta say, sadly: It's the Temu version of Temu. It's Amazon's attempt to compete with cheap e-commerce apps like Temu, Shein, and the TikTok Shop. The Haul section of Amazon's app is now in beta mode. The sweater section on Amazon's Haul section has a familiar aesthetic. But for now, to me, it just feels like a sort of crummy version of Temu.

Persons: —, Ava Max, Lady Gaga, It's, Obama, Shein, China — Organizations: Amazon, Service, Apple, Business Locations: Temu, China, Utah

☆ Fed's Powell: It will take time for the labor market to stabilize
▼ + stars: | 2024-11-14 | 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's Powell: It will take time for the labor market to stabilizeFederal Reserve Chair Jerome Powell speaks to business leaders in the Dallas-Fort Worth area on monetary policy. Powell delivered a speech followed by a Q&A session.

Persons: Fed's Powell, Jerome Powell, Powell Organizations: Federal Locations: Dallas, Fort Worth

☆ Homebuilders fear Trump's mass deportations would inflate costs and make it even harder to hire
▼ + stars: | 2024-11-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Homebuilders and economists have said a deeper labor shortage could cause housing costs to spike. The issue is the construction labor force, whose 500,000-worker shortage is already making conditions more challenging. Related Video Musk visits border, calls for Trump-style wallForeign-born workers make up about a quarter of the construction workforce. They argue that the surge in home costs is largely a result of the nationwide housing shortage, and immigrants are a key part of building housing. AdvertisementDuring the pandemic, many older, experienced workers retired, and the pipeline of younger US-born workers isn't sufficient, homebuilders say.

Persons: Homebuilding execs, Donald Trump's, —, Eric Finnigan, John Burns, Ben Metcalf, Jim Tobin, JD Vance, Trump, Vance, Barack Obama, Obama, Joe Biden, Tom Homan, Chad Blocker, Homebuilders, Dennis Webb Organizations: Service, Trump, University of California, National Association of Home Builders, Immigration, Biden Locations: Berkeley, Los Angeles, Phoenix

☆ Powell says the Fed doesn't need to be 'in a hurry' to reduce interest rates
▼ + stars: | 2024-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Powell noted that the unemployment rate has been rising but has flattened out in recent months and remains low by historical standards. Specifically, he said the labor market is holding up well despite disappointing job growth in October largely that he attributed to storm damage in the Southeast and labor strikes. "The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said in remarks for a speech to business leaders in Dallas. Powell added that the calculus of getting the move to neutral rate will be tricky. The Fed also has been allowing proceeds from its bond holdings to roll off its mammoth balance sheet each month.

Persons: Powell, Nonfarm, Jerome Powell Organizations: Traders, Federal, Committee Locations: Dallas

☆ Wholesale prices rose 0.2% in October, in line with expectations
▼ + stars: | 2024-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday. On a 12-month basis, headline wholesale inflation was at 2.4%. Excluding food and energy, core PPI rose 0.3%, also one-tenth more than September and also matching expectations. Services rose 0.3% on the month, accounting for most of the PPI increase, and was driven largely by a 3.6% surge in portfolio management prices. Goods prices nudged higher by 0.1% after falling the previous two months.

Persons: Dow Organizations: Federal Reserve, of Labor Statistics, PPI, Traders, Labor Department

☆ Cabinet confirmation process and recess appointments, explained
▼ + stars: | 2024-11-14 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +11 min

Rather than face the humiliation of a rejection vote in the Senate, Cabinet nominees are more frequently withdrawn when it becomes clear they cannot be confirmed. Here’s a look at the Cabinet confirmation process, why it exists, where it’s gone wrong and how Trump wants to find a way around it. Presidents like Ronald Reagan, Clinton and both Bushes did use recess appointments, although usually for positions below the Cabinet level. While Democrats can no longer filibuster Cabinet nominees, they can slow the process down. Then, the Senate rejected Taney when Jackson put him forward for a Supreme Court nomination.

Persons: George H.W, Bush, John Tower, ”, Tower, Matt Gaetz, Donald Trump’s, Gaetz, Department of Justice –, Trump, Robert F, Kennedy Jr, Kennedy, it’s, Bill Clinton, Zoe Baird, Joe Biden, Biden, Trump’s, Sen, John Thune, Ronald Reagan, Clinton, Mickey Kantor, Barack Obama, Senate can’t, …, Republicans don’t, Mike Johnson, Let’s, Johnson, Edward Whelan, Roger B . Taney, Andrew Jackson, Taney, Jackson, Martin Van Buren, England . Taney, Scott Organizations: CNN, Pentagon, Florida Rep, Department of Justice, Senate, Former House, of Health, Human Services, White House, United Nations, CIA, Law, Public Service, Democratic, Partnership for Public Service, Office, National Labor Relations, US, Senators, Republicans, GOP, Trump, Republican, The Washington Post, Bank of, Federal Reserve, Taney Locations: Texas, Geneva, United States, The, England

CNN —When Elisa Smithers was deployed to Iraq in 2005, there was a ban on women serving in ground combat operations. But she returned home to find she wasn’t offered the same support by the US Department of Veterans Affairs that male combat veterans were offered, Smithers said. Women account for roughly 17.5% of the Defense Department’s active-duty force, according to 2022 data from the agency. Hegseth has specifically criticized having women in roles where strength “is the differentiator,” he said on the podcast last week. She also worries any course reversal on women serving in combat will have a sweeping impact on women serving in other government jobs.

Persons: Elisa Smithers, Smithers, wasn’t, Donald Trump, Pete Hegseth, –, he’s, ”, Hegseth, “, hasn’t, ” Hegseth, Shawn Ryan, ” Smithers, we’ll, Elizabeth Beggs, Let’s, ” Beggs, Beggs, who’ve, Lory Manning, “ I’m, …, ” Manning, it’s, Manning, we’ve, Brandy Cottrill, Cox, “ It’s, ‘ That’s, Sen, Tammy Duckworth, Anna Moneymaker, Illinois Sen, Duckworth, MAGA, Wendy Coop, Wendy Coop Wendy Coop, ” Coop, Coop, don’t, that’s, she’s Organizations: CNN, National Guard, US Department of Veterans Affairs, Fox News, Army, Defense, Warriors, US Army, Army National Guard, Department of Veterans Affairs, Navy, Army Rangers, Army Special Forces, Marine, “ Seals, Rangers, Green Berets, Service, Action, American Civil Liberties Union, “, National Center for Veterans Analysis, Combat, Veterans Families, US Coast Guard, US Army Special Operations Command, US National Guard, Capitol, US Navy, US Naval Academy Locations: Iraq, Afghanistan, Kuwait, Washington , DC, Illinois, St, Augustine , Florida

CNN —President-elect Donald Trump and Elon Musk have big ambitions for making the federal government leaner and more efficient by reviewing its budget and operations from top to bottom. Details about how the new Department of Government Efficiency, or DOGE, will operate – and how Musk and his co-leader Vivek Ramaswamy will avoid conflicts of interest – remain scarce. Musk also took aim at the Department of Education, a frequent target of Trump and Republicans, criticizing the agency for allegedly indoctrinating kids with left-wing propaganda and other failings. Slashing that much from the federal budget – which totaled roughly $6.8 trillion in fiscal 2024 – would require cutting every program by roughly one-third, said Bobby Kogan, senior director of federal budget policy at the left-leaning Center for American Progress. “Trump’s ‘Department of Government Efficiency’ will not be an actual department.

Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, ” Musk, Ramaswamy, Musk, ”, “, ” Ramaswamy, Stephen Moore, Elon, Vivek, Moore, Larry Summers, Clinton, Glenn Hubbard, George W, Bush, Bobby Kogan, ” Kogan, Brian Riedl, Riedl, GOP Sen, Rob Portman, Sharon Parrott, Ronald Reagan, Reagan, William Hoagland, Peter G, Peterson, –, Jon Greenbaum, ’ that’s, Harry Sandick Organizations: CNN, Elon, Department of Government, Trump, Republican, White House, SpaceX, Department of Education, of Defense, Veterans Affairs and Homeland Security, Education Department, Labor Department, FBI, Nuclear Regulatory Commission, Heritage Foundation, US, of Economic, American, Security, Social Security, Manhattan Institute, GOP, ‘ Department, Government, White, White House & Congress, Congressional Republicans, Children’s Health Insurance, Affordable, Budget, Republicans, Grace, Center, Elon Musk, Federal Advisory Committee, Democratic Locations: Rob Portman of Ohio

☆ Why the market should prepare for inflation to return in Trump second term, according to hedge fund investor David Einhorn
▼ + stars: | 2024-11-14 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +3 min

"We have increased our bets on inflation," he told CNBC's Leslie Picker at CNBC's Delivering Alpha investor summit on Wednesday. "We will have another inflection up in inflation," he said. "The policy mix being proposed is inflationary and we will see more of that over the next few years." The latest CPI data released Wednesday showed inflation in line with market expectations, at 2.6%. There is an argument for tolerating it and trying to run the economy as hot as possible.

Persons: David Einhorn, Donald Trump's, CNBC's Leslie Picker, Einhorn, bearish, Nelson Peltz, Trump, Harris, You've, you've, Anne Walsh Organizations: Greenlight, Alpha, Trump, Maytag, Trian, Guggenheim Partners Investment Management Locations: U.S

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