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[1/3] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderWASHINGTON, March 20 (Reuters) - Hardline Republicans in the House of Representatives on Monday vowed to oppose any universal federal guarantee on bank deposits above the current $250,000 limit, throwing a major roadblock to a key tool regulators could deploy if bank runs re-emerge as financial confidence wobbles. The upheaval has been marked by uninsured business depositors fleeing smaller community and regional lenders toward the largest banks perceived as "too big to fail." Independent Community Bankers Association President Rebeca Romero Rainey said in a statement that depositors in safely run small banks should get the same guarantees that uninsured depositors in SVB and Signature Bank received. Runs could re-emerge if another bank falters, and if the institution is large enough, regulators will again declare a systemic risk exception and guarantee its uninsured deposits, he added.
Some tips include asking for concessions, buying new, waiting, and buying in cash. In a recent post, Redfin economists shared their top tips for homebuyers right now. 7 tips for homebuyersThe first tip from Chen Zhao, Redfin's economics research team lead, is to wait if you can. Considering how high mortgage rates are, a rate buydown is a concession that could help shoppers buy themselves some time for rates to fall. One counterpoint to this is that home values just about everywhere have also climbed since the start of the pandemic.
[1/8] A U.S. Air Force MQ-9 Reaper drone sits in a hanger at Amari Air Base, Estonia, July 1, 2020. On the diplomatic and economic fronts, talks continued to extend a deal to allow grain shipments from Ukraine's Black Sea ports that is due to expire this week, the United Nations and Turkey said. DRONE CRASHTwo Russian Su-27 jets carried out what the U.S. military described as a reckless intercept of the American spy drone while flying in international air space. The accounts of the incident in the Black Sea, which is bordered by Russia and Ukraine among other countries, could not be independently verified. RUSSIAN AMBASSADOR SUMMONEDRussia's Ambassador to Washington Anatoly Antonov was summoned by the U.S. State Department to discuss what happened over the Black Sea, said spokesperson Ned Price.
But that's changing: Today's young adults, especially young women, are increasingly finding romance in their friend groups. In interviews conducted for our survey, young people told us that they found online dating too transactional. Trust is at even more of a premium when it comes to dating online. In a Pew survey conducted last year, 52% of Americans reported encountering what they believed to be a scammer on an online dating platform. In dating, especially online dating, women are bombarded with negative attention, harassment, or worse.
Drakula & Co. | Moment | Getty ImagesAfter a year of soaring prices, the IRS made annual inflation adjustments for dozens of tax provisions, including the federal income tax brackets for 2023, which may affect next year's taxes, experts say. While the rates didn't change, the brackets show the federal income taxes you'll owe on each portion of your taxable income, which is calculated by subtracting the greater of the standard or itemized deductions from your adjusted gross income. The goal of yearly inflation adjustments is to offset "tax rate bracket creep," he said, which happens when you owe more income taxes after wage increases without economic benefit due to inflation. How the 2023 federal income tax brackets changedThere was roughly a 7% change in the federal income tax brackets from 2022 to 2023, said Kyle Pomerleau, senior fellow and federal tax expert with the American Enterprise Institute. How to prepare for 2023 tax bracket changesWith tax law changes going into effect and others being proposed, 2023 may be "another year for the record books in terms of tax complexity and tax refund volatility," Steber said.
A Nikki Haley and Vivek Ramaswamy Victory
  + stars: | 2023-03-03 | by ( Sadanand Dhume | ) www.wsj.com   time to read: +1 min
Sadanand Dhume writes a biweekly column on India and South Asia for WSJ.com. Mr. Dhume is also a resident fellow at the American Enterprise Institute in Washington, D.C. Mr. Dhume is the author of “My Friend the Fanatic: Travels with a Radical Islamist,” (Skyhorse Publishing, 2009), which charts the rise of the radical Islamist movement in Indonesia. Mr. Dhume holds a bachelor’s degree in sociology from the University of Delhi, a master’s degree in international relations from Princeton University and a master’s degree in journalism from Columbia University. He lives in Washington, D.C. with his wife, and travels frequently to India.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHouse Select Committee on China wants to emphasize public communication, says AEI's Derek ScissorsCNBC's Eamon Javers and Derek Scissors, Asia economist at The American Enterprise Institute, join 'The Exchange' to discuss rising U.S.-China tensions, the high-profile House Select Committee hearing on business with China, and the need for explicit guidance.
The US is again warning China not provide military support to Russia for its war in Ukraine. Russia's military has structural problems that foreign gear can't fix, a retired US general says. While lower-level Russian units have been able to adapt, "I think the big problem in the Russian military is that the culture is not very conducive to" learning, added Lee, an expert on Russia's military. Russian military leadership failings and inability to perform under fire will limit the utility of whatever hardware Beijing may provide, Breedlove said. While US officials have not specified what military support China may provide, there are signs Russia is using artillery ammunition more sparingly.
That money was to be given in $2 billion annual installments of Foreign Military Financing, or FMF, grants over five years. Republicans accused Biden's administration of failing to advocate strongly enough for the Taiwan grants, given that his fellow Democrats controlled both the Senate and House last year. "Securing FMF funding is always a challenge given the tight budget constraints, even for priority partners like Taiwan," said Eric Lee of the Project 2049 Institute think tank. "I would prefer to see a revival of FMF grants, but with clear strings attached," said Michael Hunzeker, a Taiwan military expert at George Mason University. Grants to buy specific weapons could be made on condition of Taiwan showing further moves toward asymmetric defense, he said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden billionaire tax policy is not desirable for U.S. economy, says Alex BrillStephanie Kelton, Stony Brook University professor of economics & policy, and Alex Brill, a senior fellow at the American Enterprise Institute for Public Policy Research, join 'Squawk Box' to discuss how it's possible to create a wealth tax, how to avoid double taxation and more.
A Chinese spy balloon was detected over the US, the Department of Defense said. Experts say spy balloons can do things satellites can't, and China may have wanted to get caught. The balloon, the Pentagon said, was "most certainly" sent by China to spy on the US. What is the Chinese spy balloon? A spy balloon is a balloon with any kind of surveillance equipment is attached.
What Chevron's $75 billion stock buyback plan suggests
  + stars: | 2023-01-26 | 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 EmailWhat Chevron's $75 billion stock buyback plan suggestsJames Pethokoukis, economic policy analyst at the American Enterprise Institute, joins 'The Exchange' to discuss the White House's issues with Chevron amidst the companies buyback, why Chevron's buyback may be too big and more.
Republicans are using the debt ceiling as leverage to achieve spending cuts on Democratic priorities. But failing to raise the debt ceiling by the summer could cause the US to default on its debt. Consequences of default are dire, and Biden has urged the GOP to not bargain with the debt limit. "Failure to raise the debt limit will not reduce our debt, but it would wreck the economy if it led to a default. "When you talk about the trillion dollar platinum coin, it sounds very silly — and it is really silly!"
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGDP impact of the Lunar New Year following China lifting its zero-Covid policyDerek Scissors, senior fellow at the American Enterprise Institute, and John Rutledge, chief investment strategist at Safanad, join 'The Exchange' to discuss the GDP impact of China lifting its zero-Covid policy, the spending habits of Chinese consumers and the need for property stability in China.
Democrats have a Gen Z problem
  + stars: | 2023-01-11 | by ( Samuel Abrams | Jeremi Suri | ) www.businessinsider.com   time to read: +11 min
November's midterms heralded a new force in American politics: Gen Z voters. Given the narrow margins and the Democrats' ability to retain the Senate despite historical precedent, commentators and analysts declared that Gen Z helped Democrats thwart a Republican wave. Gen Z isn't sold on the whole 'party' thingAmericans are increasingly unhappy with the two-party system. Given these circumstances, Democrats shouldn't take the political loyalty of Gen Z voters for granted. Despite assumptions about their left leanings, members of Gen Z are not firmly behind the Democratic Party, President Joe Biden, or many other well-known Democrats.
Kevin McCarthy was elected speaker on Friday night after a week of disarray and 15 rounds of voting. Thanks to the events of the past week, McCarthy may struggle to manage the slim GOP majority. "It's a schism within a schism," Kevin Kosar, a senior fellow at the American Enterprise Institute who studies Congress and US politics, told Insider. But during the House speaker battle this week, some of them found themselves on opposites sides, even after their would-be leader, Trump, took a stance. With new divisions and animosities on display after the House speaker battle, it's unclear how effectively McCarthy will be able to do just that.
In exchange for as little as a few thousand dollars in contributions to the nonprofit, these people received easy access to events where Supreme Court justices would be. Supreme Court Historical society trustee Jay Sekulow, center, represented President Trump during the latter's impeachment trial in 2020. Anti-abortion advocates cheer in front of the Supreme Court after the decision in Burwell v. Hobby Lobby Stores was announced in 2014. Alito did not respond to a request for comment on his involvement in the Supreme Court Historical Society. Supreme Court justices, though, aren't even required to stay within those weak guardrails because no code of ethics governs justices' behavior.
Jonathan Ernst | ReutersWhen former President Donald Trump's tax returns were released last week, the line for Social Security income was notably left blank. About 70 million Americans rely on Social Security for monthly income when they retire or become disabled. To qualify, workers generally need to earn 40 credits by working and paying Social Security taxes. Yet Trump had no Social Security income for tax years 2015 through 2020, based on his individual tax returns. In the U.K. or Australia, Trump would not be eligible for a benefit anywhere near the size of U.S. Social Security benefits, Biggs noted.
Rep. Kevin McCarthy has lost six rounds of voting for House Speaker as of Wednesday night. Here are five ways the battle for House Speaker could potentially end. The GOP's slim majority in the House means McCarthy needs the support of nearly all Republicans to become speaker. Here are five potential ways the battle for House Speaker could end, with or without McCarthy assuming the position. House changes the rules to push McCarthy throughThe House could also in theory change the rules of voting for speaker.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPethokoukis: The debt limit is the key item to watch in Washington this year, and there's a perfect storm of factors for it to go wrongJames Pethokoukis of the American Enterprise Institute discusses the top agenda items for Congress and the Biden administration in 2023.
A recent WSJ op-ed argued that Gen Z is a generation of "weakened kids." Haidt said that social media and a culture of victimhood are to blame for Gen Z's state. Haidt pointed to high rates of anxiety and depression among young people and said that a "performative" social media culture was to blame. Gen Z, typically defined as those born between 1997 and 2012, live in "defend mode," Haidt said. The concern about giving feedback to Gen Z workers is occurring just as social media promotes an organizational culture of fear and could have larger knock-on effects, Haidt said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's going to take several months for Covid to work through China, says AEI's ScissorsJohn Rutledge, Safanad, and Derek Scissors, the American Enterprise Institute, joins CNBC's Brian Sullivan and the 'CNBC Special: Taking Stock 2023' to discuss China's reopening and how Covid is hammering the country right now.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's possible the U.S. could avoid a recession in 2023, says Betsey StevensonBetsey Stevenson, former Labor Department chief economist, Michael Strain, director of economic policy studies at the American Enterprise Institute, join CNBC's 'Squawk Box' to discuss their outlook for interest rates and inflation in 2023.
Amid rising tensions with China, the US military has sought to bolster its presence in Asia. US forces there may see the "most transformative year" in a generation in 2023, a US official said. Major changes to the US military presence in Asia face logistical and political hurdles, however. Other countries have sought more training with the US military or, in the case of Palau, to host US forces. There are opportunities for the US "to expand its access and deepen relationships" in both Northeast and Southeast Asia, said Thompson, a former US Defense Department official, but US leaders will have to reckon with the limits of those partnerships, especially in Southeast Asia.
San Francisco Federal Reserve President Mary Daly said Friday she sees the recent inflation news as welcome, but it's not enough to change her view on where policy needs to go. The October and November readings for the consumer price index amounted to "good news," but "we don't see anything right now but hope in the inflation data, and I get confidence in evidence, not hope. "We are far away from our price stability goal," she added. Daly, a nonvoter this year on the rate-setting Federal Open Market Committee, said her own expectations of where rates are headed is probably higher than current market pricing. Daly votes again in 2024.
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