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☆ Gold frail as dollar, yields strength dim shine
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were subdued on Tuesday as the dollar and Treasury yields rose, while traders waited to hear from a slew of U.S. Federal Reserve speakers this week for more clarity on the central bank's rate cut prospects. The dollar index touched a 10-day high, making bullion less attractive for other currency holders, while yields on benchmark U.S. 10-year Treasury notes rose above 4%. Elsewhere, European Central Bank officials pushed back against market expectations for rapid rate cuts this year. According to Reuters technical analyst Wang Tao, spot gold may retrace to $2,042 per ounce, after its repeated failures to break resistance at $2,060.

Persons: Christopher Waller's, Matt Simpson, Christopher Waller, Waller, Simpson, Wang Tao Organizations: Co, . Federal Reserve, Index, Fed, Brookings Institution, Traders, Central Bank Locations: Bangkok, Thailand

NEW YORK (AP) — The squabble over billion of dollars in overdraft fees that Americans get charged every year is intensifying. While banks have drastically cut back on overdraft fees in the past decade, the nation's biggest banks still take in roughly $8 billion in overdraft fees every year, according to data from the CFPB and bank public records. Political Cartoons View All 253 ImagesBanks charge a customer an overdraft fee if their bank account balance falls below zero. What started off as a courtesy offered to some customers, the popularity of debit cards beginning in the 1990s led to Americans wracking up tens of billions of dollars in overdraft fees. While big banks have cut back on overdraft fees, smaller banks have not, and a number of them heavily rely on overdrafts to be profitable, industry analysts said.

Persons: Biden, “ It's, Joe Biden, “, Greg McBride, ”, Aaron Klein, ” Klein, Rohit Chopra, ” Chopra, Chopra, Barack Obama, Carter Dougherty, overdrafts, can’t Organizations: Consumer Financial, Biden Administration, Federal Trade Commission, Bank of America, Banking, Bankrate, Brookings Institution, Armed Forces Bank, Republican, Trump Administration, American Bankers Association, Financial Reform

☆ CPI: America’s final inflation report for 2023 just came in
▼ + stars: | 2024-01-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Economists were expecting the annual overall inflation rate to tick higher, to 3.2% from the 3.1% headline reading the month before, according to FactSet consensus estimates. Despite the acceleration, the annual rate of consumer-level inflation is down considerably from December 2022’s rate of 6.5%; additionally, a closely watched measure of underlying inflation slowed further. In December, core goods prices were flat, an apparent stalling out after six months of declines. Rising shelter costs have kept core services elevated. The central bank has a target inflation rate of 2%, as measured by the Personal Consumption Expenditures price index, which has its latest reading due out later this month.

Persons: “, ” Wendy Edelberg, ” “, ’, Brian Coulton, Fitch, ” Scott Anderson, Jerome Powell, Joe Brusuelas, ” Organizations: New, New York CNN, of Labor Statistics, BLS, The Hamilton Project, Brookings, CNN, Federal, BMO, CPI, PCE, RSM Locations: New York, November’s

☆ What’s getting more expensive — and cheaper — at the grocery store
▼ + stars: | 2024-01-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

That’s the lowest annual increase registered since June 2021 and a far cry from the 11.8% increase registered in December 2022. Overall food prices were up 0.2% on a monthly basis, matching the rate of increase seen in November, CPI data shows. Eggs and ham prices went up the most in December as compared to other food categories tracked in the CPI. Ham prices rose 2.6% for the month (2.9% excluding canned ham), BLS data showed. The latest Consumer Price Index showed that grocery prices rose only 1.3% for the year ended in December.

Persons: New York CNN —, Bill Adams, chow, Wendy Edelberg, Ash Organizations: New, New York CNN, Bureau of Labor Statistics ’, Comerica Bank, CPI, The Hamilton Project, Brookings, CNN, Bloomberg Locations: New York, Ham, United States

☆ It's our fault you feel bad about the economy
▼ + stars: | 2024-01-09 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

The media has been more negative about the economy than the underlying data would suggest, a new study found. The tone of economy stories since 2018 doesn't match variables such as GDP, inflation, and unemployment. This may have fueled a disconnect between how the economy performs and how people think it's performing. Meanwhile, a December Bankrate study found that 59% of US adults feel the economy is in a recession. Still, many Americans feel better about their local economy than the national economy.

Persons: —, us, Brookings, Will Stancil, Stancil Organizations: Service, Brookings, San, San Francisco Federal Reserve's, University of Michigan Consumer, University of Minnesota Locations: San Francisco Federal

☆ US drug shortages are forcing ‘impossible choices’ for Americans, experts tell Senate committee
▼ + stars: | 2023-12-05 | by ( Jen Christensen | ) edition.cnn.com time to read: +7 min

Anderson Cancer Center in Houston, Dr. Jason Westin regularly witnesses the power of lifesaving cancer drugs. But because generic cancer drugs are often in shortage in the United States, he says, he and his patients have been put in a terrible position. Makers of generic drugs don’t have to share information about the supply chain, so buyers currently choose based only on price. Hernandez told the Senate committee that of the top 50 generic drugs paid for by Medicare Part D, 16 were marked up 1,000% or higher. Until there is some kind of legislation that addresses drug shortages, Wosińska and the other experts agreed, they will continue.

Persons: Jason Westin, ” Westin, that’s, they’d, Sen, Marsha Blackburn, Mike Crapo, Generics, ” Crapo, “, ”, Crapo, Inmaculada Hernandez, ” Hernandez, Dr, Marta E, it’s, ” Wosińska, Ron Wyden, ” Wyden, Hernandez, Sanjay Gupta Organizations: CNN, Anderson Cancer Center, US, Finance, Vanderbilt, Tennessee Republican, Food and Drug Administration, Westin, Skaggs School of Pharmacy, Pharmaceutical Sciences, University of California, Centers, Medicare, Medicaid Services, Brookings Institution, CNN Health Locations: M.D, Houston, United States, Nashville, Idaho, China, India, San Diego, Oregon, generics

☆ Job data suggests ‘soft landing’ is increasingly likely, economists say
▼ + stars: | 2023-12-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Luis Alvarez | Digitalvision | Getty ImagesThe U.S. economy inched closer to a so-called "soft landing" after a new batch of labor data, economists said. Why a soft landing is like 'Goldilocks' porridge'Steaming bowl of oatmeal porridge, made with Irish oats, wheat berries and barley. A soft landing is like "'Goldilocks' porridge' for central bankers," Brookings Institution economists wrote recently. How the labor market fits inWhy the job market is already 'back into balance'The latest labor data added to encouraging news about a likely soft landing, economists said. Despite the large monthly decline, job openings are still 25% above their February 2020 level, she added.

Persons: Luis Alvarez, Jason Furman, Obama, Jon Lovette, Julia Pollak, Pollak Organizations: Digitalvision, Federal Reserve, U.S . Department of Labor, Labor, Harvard University, White House Council, Economic Advisers, Getty, Fed, Brookings, American Economic Association

☆ Why are real estate commissions 6%? – and why that’s about to change
▼ + stars: | 2023-12-03 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Many thought the internet would eventually kill the 6% real estate commission. Even as the ranks of stockbrokers and travel agents have dropped in recent years as commissions petered out, the number of real estate agents has grown and their typical commissions are bigger than ever as home prices have risen. That is largely because of the power of the National Association of Realtors, an influential lobbying group that represents 1.5 million real estate agents. How real estate commissions workHome sellers are usually on the hook for their real estate agent’s commission as well as for paying the agent that represents the buyer. Real estate agents will tell you commissions are negotiable — and they are.

Persons: Sellers, ”, Jordan Barry, “, Tiffany Hagler, won’t, Babiracki Barlow, “ we’ve, Vasi Organizations: DC CNN, Kansas City, Brookings Institution, stockbrokers, National Association of Realtors, University of Southern, National Association of Real, Exchanges, NAR, Association, Geard, Bloomberg, Getty, realtors, Agents, MLS, Department of Justice, DOJ, California Association of Realtors, New, Real, Board Locations: Washington, New York City, University of Southern California, Larchmont , New York, Boston, New York, New York —, York

☆ ChatGPT is already stealing work from freelancers
▼ + stars: | 2023-12-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

The popularity of ChatGPT has already led to lower earnings for some Upwork and Fiverr freelancers. AdvertisementLast year, a record 39% of the US workforce did freelance work , per the freelance platform Upwork. It's not just Upwork freelancers who are earning less. He said he's seen some freelancers' earnings fall from roughly $2,500 to $3,000 per month to around $1,000 today. Some freelancers have found work as AI content editors, which often involves editing, fact-checking, and giving a human touch to clients' AI-generated content.

Persons: ChatGPT, —, he's, @xianghui90 @oren_reshef @Zhou_Yu_AI, kbtp8uDUPU, John Burn, Murdoch, Carl Benedikt Frey, Mark Muro, it's, Fiverr, Ben Baker, Baker Organizations: Service, Washington University, New York University, Brookings Institution Locations: St, Louis, Australia, @jburnmurdoch, Oxford

☆ Trump’s avalanche of dishonesty: Fact-checking 102 of his false claims from this fall
▼ + stars: | 2023-12-01 | by ( Daniel Dale | ) edition.cnn.com time to read: +111 min

Below is a fact check of 102 of Trump’s false claims from the 12 speeches. But contrary to Trump’s claim, it’s not true that people had been attempting for decades to create such an initiative. Trump’s aid to farmersIn speech after speech, Trump claimed that he had given US farmers $28 billion from China. Even if the poll result is off, it’s clear that Trump’s claim that “nobody wants them” is not true. He said he was an airline pilot.”Facts First: Trump made a false claim while mocking Biden for making false claims.

Persons: Donald Trump, –, Trump, Joe Biden, Biden, Ron DeSantis, Nikki Haley, “, ”, Mexico’s, ‘ Trump, Defense Department –, ” Theresa Cardinal Brown, CNN’s Priscilla Alvarez, ” Trump, I’ve, Todd Harrison, Harrison, It’s, Trump’s, ” Ben Cahill, Nobody, Jimmy Carter’s, Barack Obama, isn’t, El Salvador –, Obama, we’d, Obama’s, Webster, Covid, Wuhan ”, They’d, they’d, you’d, Scott Gottlieb, ” Gottlieb, Trump Trump, it’s, Abraham, Aaron David Miller, Miller, Dana El Kurd, Qasem Soleimani, they’ve, we’re, We’re, ’, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Kpler, Biden Trump, Iran “, Democrats ”, that’s, Jimmy Carter, Carter “, Carter, ‘, Hillary Clinton, Kari Lake, Bill Gates, Gates, ” Chris Wallace, Chris Wallace, Hunter Biden, “ Chris Wallace, ‘ He’s, ‘ ” Trump, Wallace, “ you’re, “ Biden, ‘ You’re, Wallace interjected, Rather, you’ve, ’ ” Pavel Molchanov, Raymond James &, ” Molchanov, Tim Woody, Woody, autoworkers, CNN’s Ella Nilsen, Joe Biden’s, Erin Mellon, Gavin Newsom, Mellon, ” Vonette Fontaine, Biden “, CNN’s Matt Egan, Egan, ” Biden, Europe Trump, United Kingdom “, Brent, Pavel Molchanov, Raymond James, Patrick De Haan, GasBuddy, De Haan, Matt Smith, Matt Egan, Afghanistan Trump, we’ve, Krista Wiegand, Wiegand, ” Netanyahu, Benjamin Netanyahu, Israel, Qasem, Bibi, Netanyahu, Soleimani, Asad, Mark Milley, Hezbollah Trump, Steven Cheung, John Kirby, Cheung, Kirby, Iran’s, ” Ali Vaez, Joseph Amon, Washington –, Faiq Zidan, Zidan’s, Zidan, Abu Mahdi al, China Trump, Ukraine Trump, Letitia James, James, Attorney Alvin Bragg, Matthew Colangelo, You’re, Bragg, Colangelo, Tanya Chutkan, I’m, Jack Smith, Bill Clinton, That’s, everybody’s, Letitia James –, Al Capone’s, Al Capone, Capone, Brad Schwartz, CNN couldn’t, Schwartz, Eliot Ness, MAGA, “ MAGA, …, White, CNN’s Fareed Zakaria, Inflation Trump, Bacon, Joe, PolitiFact, Trump . Howard Gleckman Organizations: Washington CNN —, CNN, Republican, Trump Trump, Republican Jewish Coalition, Department, ISIS, Trump’s, Democratic, Congress, Defense Department, former Defense Department, Center, US Customs, Trump, American Enterprise Institute, Air Force, Army, Navy, Marine Corps, Strategic Petroleum Reserve, Energy Security, Center for Strategic, International Studies, US, IHS, Islamic, The State Department, Customs Enforcement, Policy Institute, ICE, El Salvador, ”, Merriam, The New York Times, Food and Drug Administration, FDA, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, State Department, Carnegie Endowment, International, Arab Center Washington DC, Islamic Revolutionary Guards Corps Quds Force, Obama, US International Trade Commission, Washington Post, U.S . International Trade Commission, New England lobstermen, England lobstermen, Americas, Crisis, government’s Energy, Administration, Washington Free Beacon, Energy Information Administration, Democrats, Biden, Electoral, Georgia, Michigan, Carter, Democrats can’t, Republicans, Alabama, Arizona, Fox News, ” Energy, Oceanic, Atmospheric Administration, NOAA, Wildlife, Alaska Industrial Development, Export Authority, Raymond James & Associates, Wilderness Society, Cox Automotive, Pew Research Center, New York Times, National Oceanic, California Gov, California, American Petroleum Institute, Union, West, Energy, American Automobile Association, AAA, GasBuddy, New Hampshire, Houston, Keystone XL, Obama administration’s State Department, –, Foreign, Military, DoD, Afghan, Defense, Policy, Taiwan News, “, University of Tennessee’s Center for National Security, Foreign Affairs, Israeli, NBC, Jerusalem Post, Yahoo, Pentagon, ” CNN, Joint Chiefs, Staff, Post, National Security, Group, US government’s Defense Intelligence Agency, Narcotics Bureau, Global Health, Drexel University Dornsife School of Public Health, Justice Department, Washington, Judicial, Popular Mobilization Forces, Customs and, Middle East, Customs, Protection, CBP, Border Protection, Kiel Institute, European Union, New York, New, ExxonMobil, Trump University, Trump Foundation, Manhattan, Attorney, federal Justice Department, Department of Justice, Washington DC, Presidential Records, Presidential, Mar, Biden White, MAGA Republicans, Inflation, Heritage Foundation, Trump ., Brookings Tax, Urban Institute Locations: New Hampshire, New York City, Saudi, Florida, al Qaeda, New York, Texas, Iowa, Mexico, “, U.S, Houston, Iraq, Israel, Tel Aviv, Jerusalem, Nord, Germany, Russian, Trump’s, Russia, Ukraine, Europe, Guatemala, Honduras, El Salvador, El, Washington, ”, ” In Texas, Covid, China, Wuhan, Italy, France, Abraham, Bahrain, Morocco, Sudan, Gaza, Lebanon, Syria, Iran, Yemen, Libya, Palestine, Afghanistan, Somalia, Pakistan, New England, England, Kpler, Malaysia, Oregon, Alabama, Maricopa County, Arizona, Arizona’s, Moscow, Alaska, East, South Carolina, California, “ California, West Virginia, Virginia, United Kingdom, West Texas, “ U.S, Los Angeles, Venezuela, Mississippi , Louisiana, Canada, United States, Paris, Taiwan, “ China, Iranian, that’s, –, Singapore, Iraqi, San Diego, Kiel, York, Manhattan, York’s, Chicago, Philadelphia, Georgia, Qaeda

☆ With tipping, wages are 'shifted onto the customer'—here's why we do that in the U.S.
▼ + stars: | 2023-11-30 | by ( Gili Malinsky | ) www.cnbc.com time to read: +5 min

While many industries have adopted the practice, tipping is most entrenched in the restaurant industry, where workers rely on gratuities to make up much of their wages. Here's how tipping came to America in the first place, and how it became institutionalized in food services, specifically. But the company that "really institutionalized" tipping, Zagor says, was the Pullman Company, which built and operated railroad cars. But when restaurants were added in 1966, they weren't covered under the typical minimum wage as other industries ultimately were. 'The whole thing is shifted onto the customer'These days, tipping is deeply embedded in the restaurant industry.

Persons: Kerry Segrave's, Stephen Zagor, Zagor, Franklin D, Roosevelt, what's, Harry Holzer, Jena Ellenwood Organizations: Columbia Business School, Employers, Pullman Company, Pullman, Library of Congress, Workers, Companies, Labor, Georgetown University, Brookings Locations: America, Europe, U.S

☆ Democrats have no Biden backup plan for 2024, despite age concerns
▼ + stars: | 2023-11-30 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +7 min

Despite weak poll numbers and questions, including from some Democrats, about his age, Biden has stuck to his plan to seek a second term after clearing the field of serious Democratic primary challengers when he announced in April that he was running again. Biden loyalists, citing his record in office, argue that the party does not need a backup plan to defeat probable Republican nominee Donald Trump, who Biden beat in the 2020 election. To the chagrin of the White House, Biden's age has become a defining part of the 2024 campaign. "If he continues to run, he will be the nominee of the Democratic Party. In 1972, then Senator George Eagleton withdrew as Democratic presidential candidate George McGovern's vice presidential running mate after revelations of his treatment for depression forced him out of the race.

Persons: Joe Biden, Eisenhower, Evelyn Hockstein, Biden, Donald Trump, Biden's, Kamala Harris, ” Biden, Daniel Wessel, Trump's, Trump, David Axelrod, Barack Obama's, Axelrod, Marianne Williamson, Dean Phillips, Harris, Gavin Newsom, Elaine Kamarck, George Eagleton, George McGovern's, Sargent Shriver, McGovern, Newsom, Ron DeSantis, Jeff Mason, Heather Timmons, Alistair Bell Organizations: REUTERS, Rights, Democratic Party, Democratic, Biden, Republican, Democrat, Reuters, MAGA, Republicans, Trump, White, Twitter, U.S, Brookings Institution, Democratic National Committee, DNC, Thomson Locations: Washington , U.S, Nevada, South Carolina, Georgia, California , Illinois, Michigan, Chicago, California, Washington, Florida

☆ 'Tax the bad' to boost climate finance, COP28 panel advises
▼ + stars: | 2023-11-29 | by ( Mark John | ) www.reuters.com time to read: +4 min

[1/3] A general view shows Marathon Petroleum's refinery, following Russia's invasion of Ukraine, in Anacortes, Washington, U.S., March 9, 2022. Higher carbon taxes - including levies on emissions from the maritime and aviation sectors - should be among options COP28 studies, the panel recommended. Subsidies for fossil fuels totalled $1.3 trillion, and substantially more if counting the societal cost of dealing with emissions and pollution. Co-chair Nicholas Stern, professor at LSE/Grantham Research Institute, said there was a compelling case for energy companies to make voluntary contributions. "I think that moral obligation is something that will be emphasised at COP28, and indeed before and after," he said.

Persons: David Ryder, Amar Bhattacharya, Vera Songwe, Nicholas Stern, Mark John, Barbara Lewis Organizations: REUTERS, Summit, United Arab, Brookings, Center, Sustainable Development, Investments, World Bank, LSE, Grantham Research Institute, Aviation, Thomson Locations: Ukraine, Anacortes , Washington , U.S, Dubai, United Arab Emirates, Paris, COP28, China

It also is one of the most substantial exceptions to the Posse Comitatus Act, which generally prohibits using the military for law enforcement purposes. Trump has spoken openly about his plans should he win the presidency, including using the military at the border and in cities struggling with violent crime. His plans also have included using the military against foreign drug cartels, a view echoed by other Republican primary candidates such as Florida Gov. The threats have raised questions about the meaning of military oaths, presidential power and who Trump could appoint to support his approach. William Banks, a Syracuse University law professor and expert in national security law, said a military officer is not forced to follow “unlawful orders."

Persons: Donald Trump, “, I’m, ”, ” Trump, Trump, don’t, Joseph Nunn, Brennan, “ There’s, Nunn, Ron DeSantis, Nikki Haley, Michael Flynn, Flynn, Charles Q, Brown, Joe Biden's, Lyndon Johnson, Dr, Martin Luther King Jr, Johnson, John F, Kennedy, Dwight Eisenhower, Eisenhower, George H.W, Bush, Rodney King, Michael O’Hanlon, O’Hanlon, Pat Ryan, Ryan, William Banks, Banks, ” Nunn, Jill Colvin, Michelle L, Price, Linley Sanders Organizations: WASHINGTON, New, Brennan Center for Justice, Florida Gov, South, Army, FBI, Trump, Pentagon, Joint Chiefs, Staff, U.S . Capitol, AP, Republican, Washington, Civil, 101st Airborne, Central High School, National Guard, Brookings Institution, Democratic, U.S . Military Academy, Syracuse University, Associated Press Locations: Iowa, New York City, Chicago, Florida, South Carolina, U.S, Baltimore , Chicago, Rock , Arkansas, Los Angeles, New York, West, Washington

[1/3] An employee hiring sign is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. So far, he said at a Boston Fed labor market conference earlier this month, measures like the employment-to-population ratio largely have not behaved differently for key racial groups, for women versus men, or among those with different education levels. Research has since tended to suggest that there may be untapped pools of labor that only become available when the job market is tight - an argument for keeping monetary policy looser than not. The labor market recovery so far has been "remarkably equitable," she said. Pandemic-era programs threw a safety net under many families, and the tight job market that has since developed helped many get a foothold, Rouse said.

Persons: Elizabeth Frantz, William M, Rodgers III, Rodgers, Torsten Slok, Jerome Powell, quartile, Chris Wheat, Cecilia Rouse, Joe Biden, Rouse, what's, we're, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, Rights, Institute for Economic Equity, St, Louis Federal Reserve, Boston Fed, Blacks, Apollo Global Management, JPMorgan Chase Institute, Workers, Reuters Graphics, of Economic Advisers, Brookings Institution, Thomson Locations: Arlington , Virginia, U.S, joblessness

☆ What the "Letter to America" backlash could mean for the first major "TikTok election"
▼ + stars: | 2023-11-22 | by ( Jasmine Enberg | ) www.businessinsider.com time to read: +6 min

Osama Bin Laden's 2002 "Letter to America" went viral, sparking discourse on TikTok's misinformation problem. 2024's "TikTok election" will have a major impact on how people consume political news. TikTok videos of American users sympathizing with the letter sparked shockwaves and a deluge of commentary that reverberated far beyond the 'For You' feed. But many of those posts contained the few dozen TikTok videos in question, and their rapid spread and the ensuing backlash emphasize the dilemma that TikTok faces ahead of what is already shaping up to be a contentious election year. A post on X containing #LettertoAmerica TikTok videos, for example, has racked up over 32 million views and was still up on the platform on Friday, even after TikTok had removed many videos from its own platform.

Persons: Osama Bin, —, TikTok, hashtag, hasn't, Gen, Biden, Meta's Organizations: Service, CNN, Republican, Intelligence, Pew Research Center, Facebook, TikTok Locations: America, Brookings, Facebook's

Yet according to a raft of polls and surveys, most Americans hold a glum view of the economy. Polls consistently show that most Americans disapprove of Biden's handling of the economy. I hear that from my family.”That's particularly true for some of the goods and services that Americans pay for most frequently: Bread, beef and other groceries, apartment rents and utilities. “Partly because the country is more polarized.”Even so, many Americans, like Charles, are still feeling the pain of inflation. Even if it does, the higher pay may come with a time lag.

Persons: they’re, Joe Biden, Lisa Cook, Cook, ”, Wendy Edelberg, Katherine Charles, Charles, “, ” Charles, Maximus, Eileen Cassidy Rivera, ” Rivera, Karen Dynan, George W, Bush, Obama, Edelberg, ” Edelberg, haven't, Brad Hershbein, Anthony Murphy, Murphy, Aparna Jayashankar, ” Hershbein Organizations: WASHINGTON, Associated Press, NORC, for Public Affairs Research, Federal Reserve's Board of Governors, Duke University, “, Brookings Institution, Medicare, Affordable, Teamsters, Biden, House, Republicans, University of Michigan's, Harvard, Upjohn Institute, Federal Reserve Bank of Dallas Locations: U.S, Tampa , Florida, autoworkers, ”

☆ Make America Build Again
▼ + stars: | 2023-11-16 | by ( Adam Rogers | ) www.businessinsider.com time to read: +37 min

America is the sixth-most-expensive place in the world to build subways and trolleys. The solutions will cost trillions of dollars and require a pace of building unseen in America since World War II. Perhaps the single most pressing question we face today is: How do we make America build again? "For this class of projects, federal environmental laws are more the exception." The prospect of overhauling our hard-won environmental laws might feel like sacrilege to anyone who cares about the Earth.

Persons: Anne, Marie Griger's, Griger, —, They're, Obama, I'm, we've, We've, I'd, It's, Matt Harrison Clough, Jamie Pleune, AECOM, Joe Biden's, There's, David Adelman, David Spence, Spence, James Coleman, NECA, Coleman, everyone's, Danielle Stokes, Nobody, Bill McKibben, Mother Jones, McKibben, Michael Gerrard, Columbia University —, they've, David Pettit, it's, Zachary Liscow, That's who's, Adam Rogers Organizations: RES Group, Environmental, Infrastructure Investment, Jobs, Land Management, Forest Service, University of Utah, Harvard Joint Center for Housing Studies, Brookings, Bureau of Ocean Energy Management, White, University of Texas, Greenpeace, Natural Resources Defense Council, Act, NEPA, Berkeley, University of California, University of Southern, Southern Methodist University, Ecosystems Conservation, GOP, Biden, Motorola, Telecommunications, Conservatives, Federal Energy Regulatory Commission, FERC, University of Richmond, UC Berkeley, USC, Star, Sabin, Climate, Columbia University, Natural Resources Defense, Republicans, Democrats, Management, Budget, Yale Law School Locations: Panama, Colorado, . California, Los Angeles, San Francisco, China, America, Washington, , Wyoming, Nantucket, New England, San Francisco ., University of Southern California, California, New York, Florida, Southern California, Las Vegas

WASHINGTON (AP) — The Federal Communications Commission has enacted new rules intended to eliminate discrimination in access to internet services, a move which regulators are calling the first major U.S. digital civil rights policy. FCC Chairwoman Jessica Rosenworcel said that Congress required the agency to adopt rules addressing digital discrimination, through bipartisan infrastructure legislation passed at the start of the Biden administration. Poorer, less white neighborhoods were found to have received lower investment in broadband infrastructure and offered worse deals for internet service than comparatively whiter and higher-income areas. It is simply not plausible that we could prevent and eliminate digital discrimination by solely, solely addressing intentional discrimination,” said fellow commissioner Geoffrey Starks. President Joe Biden has said the investments in the bipartisan infrastructure law are meant to connect every U.S. household to quality internet service by 2030 regardless of income or identity.

Persons: Jessica Rosenworcel, Biden, ” Rosenworcel, ”, Nicol Turner Lee, Brendan Carr, “ It’s, Carr, Geoffrey Starks, “, Trump, Joe Biden, Christopher Ali, “ That’s, Ali, ” Ali, ” ___ Matt Brown Organizations: WASHINGTON, Federal Communications Commission, FCC, Associated Press, Center for Technology Innovation, Brookings Institution, National Cable and Telecommunications Association, Free Press, Pennsylvania State University Locations: U.S, “

☆ Not surprised by Moody's negative U.S. outlook, former economic advisor to Biden says
▼ + stars: | 2023-11-14 | 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 EmailNot surprised by Moody's negative U.S. outlook, former economic advisor to Biden saysBen Harris, VP and director of economic studies at the Brookings Institute and former U.S. assistant secretary of the Treasury for Economic Policy, discusses the U.S. economy and political landscape.

Persons: Biden, Ben Harris Organizations: Brookings Institute, Treasury, Economic

☆ Inside the remarkably intricate planning for Biden’s meeting with Xi
▼ + stars: | 2023-11-14 | by ( Mj Lee | Kevin Liptak | ) edition.cnn.com time to read: +7 min

That included the timing and location of the summit, which is occurring amid a larger gathering of Pacific leaders in San Francisco. “China – normally, if they come to United States, they want everything. San Francisco and the Bay Area are home to one of the largest populations of Chinese or Chinese-Americans in the United States. One-fifth of the population of San Francisco has Chinese roots, according to US census data. “Chinese officials will want to project to their domestic audience that Xi is received by Biden with dignity and respect.

Persons: Xi Jinping, Joe Biden, Xi, Biden, ”, Victor Cha, San, Xi ”, Barack Obama, Donald Trump, Obama, Trump, –, Xi’s, Ryan Hass, John L, ” Hass, Wednesday’s, “ Organizations: San Francisco CNN, Beijing, CNN, White House, Center for Strategic, International Studies, APEC, Area, Biden, Communist Party, Trump, Mar, Thornton China Center, Brookings Institution, House Locations: San, United States, San Francisco, China, Asia, China American, California, Palm Springs, Beijing

☆ Inside David Solomon's evolution of Goldman Sachs
▼ + stars: | 2023-11-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at a fascinating deep dive into the state of Goldman Sachs, including an interview with CEO David Solomon. The big storyLong live GoldmanJon Krause for InsiderDid Goldman Sachs need to die to survive? The prestigious Wall Street bank has drawn plenty of bad headlines over the past few years, often focused on CEO David Solomon. AdvertisementMichael Kovac/Getty ImagesMcLean's story provides a fascinating look at not just Goldman Sachs' evolution but Wall Street's. Goldman COO John Waldron told McLean it's a "big, big issue" at the bank.

Persons: —, we've, it's, Goldman Sachs, David Solomon, What's, Goldman Jon Krause, Solomon, Bethany McLean, McLean, he's, hasn't, Michael Kovac, Banks, Goldman, John Waldron, McLean it's, wouldn't Goldman, Jerome Powell, Carlos Barria, Mark Zuckerberg, Jeff Bottari, Mark, TikTok, Ian Grandjean, Chatbots, Frederick Banting, Travis Barker, King Charles III, Yuna, Condoleezza Rice, Claude Monet, Ina, Terri Peters, Ina Garten, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, Enron, Brookings Institution, UBS, Moody's, Facebook, Google, Meta, Apple Locations: Washington, Roman, New York City, San Diego, London, New York

WASHINGTON (AP) — When President Joe Biden meets Chinese leader Xi Jinping on Wednesday, there will be no such thing as a small detail. Biden and Xi will meet while both attend next week's Asia-Pacific Economic Cooperation summit in San Francisco, but even basic information has remained closely guarded. That recalls Biden's nearly three-hour meeting with Xi before the start of last year’s G-20 summit in Bali. The Chinese attach importance to the location, which this time may be more like Sunnylands than Anchorage, where top U.S. and Chinese officials held rather tense 2021 talks. Hillary Clinton's 1995 Beijing visit turned heads for a different reason when she declared that “human rights are women’s rights, and women’s rights are human rights."

Persons: Joe Biden, Xi Jinping, Beijing’s, Bonny Lin, Biden, Xi, China’s, Biden's, Victor Cha, ” Cha, Richard Nixon, Barack Obama, Obama, Donald Trump, Bonnie Glaser, Xi's, Ryan Hass, John L, Hass, George H.W, George H.W . Bush, Fang Lizhi, “, Hillary Clinton's, Laura Bush's, Sasha Obama, Hu Jintao, Malia, Michelle, Michelle Obama, Colleen Long Organizations: WASHINGTON, China Power, Center for Strategic, International Studies, Economic Cooperation, White House, San, Communist Party, Asian Affairs, White, National Security Council, APEC, Mar, German Marshall Fund, Thornton China Center, Brookings Institute, Olympics, The New York Times, Press Locations: Washington, Asia, San Francisco, Bali, China, United States, Sunnylands, Rancho, Palm Springs , California, Lago, ”, Anchorage, Texas, Beijing, George H.W ., Thailand, Myanmar, The

☆ Biden’s economic scorecard touts fragile advantage
▼ + stars: | 2023-11-09 | by ( Ben Winck | ) www.reuters.com time to read: +11 min

And if the political strategist James Carville was right that “it’s the economy, stupid,” the next several months could make or break Joe Biden’s economic record. As things stand, the current ruler of the free world touts a fragile advantage. Households’ disposable income after adjusting for inflation hit a record $20 trillion in the month that Biden’s measure was approved, according to the Bureau of Economic Analysis. STUDENT LOANSForgiving swaths of student debt was another of Biden’s campaign promises, but his efforts have so far failed. And with higher interest rates making debt service more expensive, Biden’s spending could come back to bite him on election day.

Persons: Joe Biden, Ken Cedeno, James Carville, Joe Biden’s, “, aren’t, Breakingviews, it’s, Biden, Donald Trump, Mitch McConnell, ”, Realtor.com, Congressional Republicans haven’t, haven’t, WALL, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Edmond's Catholic, REUTERS, Rights, Reuters, House, Republican, AMERICAN, ACT, Brookings Institution, Analysis, Walmart, Nordstrom, Deere, Caterpillar, Republicans, Commerce Department, Micron, Bank of America, Gallup, Federal Reserve, United Auto Workers, RSM, Congressional Republicans, Biden, Reuters Graphics Reuters, Conservative, Thomson Locations: St, Rehoboth Beach , Delaware, U.S, New York, Arizona, West Virginia

☆ Why the U.S. won't change physical cash
▼ + stars: | 2023-11-07 | by ( Mark Licea | ) www.cnbc.com time to read: +2 min

The Federal Reserve will spend $931.4 million to print bills in 2023 — but there's a problem with U.S. cash. Physical currency has been updated around the world but not in the U.S., and while an increasing number of Americans are ditching cash for electronic payments, experts say cash isn't going away. In 2017, the $100 bill surpassed the $1 bill as the most popular currency denomination. Some speculate that the rise in $100 bills in circulation may be to avoid taxes or for illegal activity. … In the 1960s, the half dollar lost its place because it wasn't included in the use of parking meters," said Mudd.

Persons: Aaron Klein, Douglas Mudd, Franklin Noll, Mudd Organizations: Federal Reserve, Brookings Institute, CNBC, American Numismatic Association, Federal Reserve Bank of Kansas City Payments, U.S Locations: U.S

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