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☆ Fed could hold rates at peak into 2024, Daly signals
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

Dec 16 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Friday said it's a "reasonable" to think that once the Fed policy rate gets to its peak, it will stay there for nearly a year, and added she's prepared to keep it there longer if needed. Markets currently are pricing in rate cuts in the second half of 2023. Over the past several rate hiking cycles, the Fed has kept interest rates on hold for 11 months on average. "I think 11 months is a starting point, is a reasonable starting point. But I'm prepared to do more if more is required," she said, adding that it will be the data that determines exactly how long the Fed will keep rates restrictive.

☆ Japan may build 2 huge warships to counter the growing missile threat from North Korea
▼ + stars: | 2022-12-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

That has led Japan to examine its missile defense, which relies on specially designed warships. The launches have forced Japan to examine its unique ballistic-missile defense system, which relies heavily on specially equipped warships to intercept incoming missiles. US Missile Defense Agency/Heather CavaliereJapan began developing its current BMD system in 2004. US Navy/MCS3 Quinton A. LeeThe Aegis-equipped BMD ships are the most important part of Japan's BMD system. US Navy/MCS Seaman Aleksandr FreutelThere are advantages to relying on maritime-based platforms for missile defense.

☆ The economic consequences of the unprecedented protests in China
▼ + stars: | 2022-11-28 | 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 EmailThe economic consequences of the unprecedented protests in ChinaDerek Scissors, senior fellow at the American Enterprise Institute, and Longview Global's Drewardric McNeal join 'The Exchange' to discuss the unprecedented protests taking place in China, the political risks the protest could bring and the global economic risks the unrest might provoke.

☆ Former House Speaker Paul Ryan says there's no one 'better suited' to lead House Republicans than Kevin McCarthy: 'He's been good for conservatives'
▼ + stars: | 2022-11-21 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Paul Ryan said there was no one "better suited" to lead House Republicans than Kevin McCarthy. McCarthy is trying to lock up votes to lead the House, which will have a slim GOP majority in 2023. Ryan also told Karl that he believed McCarthy would get at least 218 votes on the floor, and expressed confidence in the lawmaker's abilities to lead Republicans. "There isn't anybody better suited to running this conference than Kevin McCarthy. He's been good for conservatives, frankly, but he's also a person who really understands how to manage a conference."

☆ Republicans pitched an economic solution. Now they'll have to deliver.
▼ + stars: | 2022-11-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +6 min

While Republicans sought to seize on that economic anxiety during the campaign, most candidates provided few specifics. “The GOP still doesn’t know what its economic policy is in a post-Trump world,” said Brian Riedl, who worked for six years as chief economist for Republican Sen. Biden said he has no plans to change his approach to the economy, despite voters’ sentiments, making a shift toward a compromise with Republicans on economic policy seemingly unlikely. “That means there will be a lot less economic policy. “Republicans are going to need to deliver on the economy, especially if the economy is worsening and inflation is worsening,” said Riedl.

The worst-kept secret in U.S. politics is finally out: Donald Trump is running for president. But, of course, the GOP itself crashed, with many of Trump’s hand-picked candidates headlining the disaster. He was the political black hole from which so few GOP candidates escaped. “The question is: What happens when he goes head-to-head with the guy he’s imitating?”Well, with Trump’s official 2024 bid, we are one step closer to seeing what will happen. A Trump party in all but name.

☆ Pethokoukis: DeSantis is most likely Republican candidate for 2024
▼ + stars: | 2022-11-15 | 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 EmailPethokoukis: If not Trump, DeSantis is the most likely Republican presidential candidate for 2024James Pethokoukis, Economic Policy Analyst at the American Enterprise Institute, joins Worldwide Exchange to discuss the latest in Washington, D.C.

☆ While some of Trump's picks lost or underperformed, Gov. Ron DeSantis dominated in Florida — heating up talks about who the GOP nominee should be in 2024
▼ + stars: | 2022-11-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

After the GOP underperformed, some Republicans are saying it's time to move on from Trump. Ron DeSantis handily won reelection in a state that has long been considered a swing state, defeating Democrat Charlie Crist with a roughly 20-point lead as of Wednesday. The drastic difference has already led Republicans to turn to DeSantis for 2024 hopes, a prospect that now seems all the more likely. But one of the biggest blows to the GOP, and Trump, came in Pennsylvania, where Lt. Gov. Some were already propping up DeSantis as the best choice for the 2024 Republican presidential nominee.

☆ The inflation-employment conundrum, with AEI's James Pethokoukis & Roosevelt Institute's Mike Konczal
▼ + stars: | 2022-11-01 | 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 EmailThe inflation-employment conundrum, with AEI's James Pethokoukis & Roosevelt Institute's Mike KonczalJames Pethokoukis, economic policy analyst at the American Enterprise Institute, and Mike Konczal, director of macroeconomic analysis at the Roosevelt Institute, join 'Power Lunch' to discuss Fed policy decisions, the importance of getting inflation under control and the timeline for a potential pivot.

☆ Biden's student-debt relief plans aren't enough to restore the value of a college degree as more young people decide to skip it
▼ + stars: | 2022-10-29 | by ( Jacob Zinkula | Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

College enrollment has fallen in recent years, part of a broader trend over the past decade. President Joe Biden's student-debt reforms could make college more attractive to some but not all. College enrollment has fallen over 1% since last fall, according to a recent report from the National Student Clearinghouse. While Democratic lawmakers have pushed back on the idea that Biden's student-debt relief will cause tuition to spike, GOP lawmakers have latched onto that criticism. While there are few signs of a significant tuition decline on the horizon, the American Enterprise Institute's Mark Perry previously told Insider there had been a flicker of relief.

☆ Home prices in these 8 markets are falling the fastest as the US housing market slows down at the quickest pace ever
▼ + stars: | 2022-10-27 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

It's official: home prices in the US are in a downward trend on a national level. This is killing buyers' ability to afford higher prices. Housing affordability — when taking into account home prices, mortgage rates, and incomes — is now at one of its lowest levels in decades, according to data from the National Association of Realtors. Scott Buchta, the head of fixed income strategy at Brean Capital, also said in a memo on Wednesday that home price declines would continue, eventually falling on a year-over-year basis. Many see a so-called "Fed pivot" back to dovish policy as necessary for mortgage rates to fall.

☆ Social Security record 8.7% cost-of-living adjustment for 2023 could pressure the program's funds, some experts say
▼ + stars: | 2022-10-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Social Security's average retiree benefit will go up by $146 per month in 2023, thanks to a record 8.7% cost-of-living adjustment prompted by high inflation. More than 70 million Social Security and Supplemental Security Income beneficiaries will benefit from those higher payments. The increased costs may prompt Social Security's funds to reach insolvency at least one calendar year earlier than the trustees have projected, according to estimates by the Committee for a Responsible Federal Budget. Other experts also have expressed concerns about how the increased benefit costs would affect the program. "There is certainly a good chance that this could accelerate the depletion of Social Security's primary trust fund," said Shai Akabas, director of economic policy at the Bipartisan Policy Center.

The raft of measures could amount to the biggest shift in U.S. policy toward shipping technology to China since the 1990s. If effective, they could hobble China's chip manufacturing industry by forcing American and foreign companies that use U.S. technology to cut off support for some of China's leading factories and chip designers. The rules published on Friday also block shipments of a broad array of chips for use in Chinese supercomputing systems. "The U.S. should stop the wrongdoings immediately and give fair treatment to companies from all over the world, including Chinese companies." On Saturday, China's foreign ministry spokesperson Mao Ning called the move an abuse of trade measures designed to reinforce the United States' "technological hegemony".

☆ Pethokoukis: We likely won't see the impact of interest rate hikes until after the midterm elections
▼ + stars: | 2022-09-23 | 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 EmailPethokoukis: We likely won't see the impact of interest rate hikes until after the midterm electionsJames Pethokoukis, Economic Policy Analyst at the American Enterprise Institute, joins Worldwide Exchange to discuss the upcoming midterm elections, a possible shutdown in Washington, D.C., and the outlook for inflation.

WASHINGTON — Rep. Liz Cheney launched a blistering attack on Donald Trump and his allies Monday, accusing Republican leaders of treating the former president like a “king” by defending him at every turn in a federal investigation into classified documents stored at his Florida estate. They are attempting to excuse this behavior,” Cheney, R-Wyo., said in a speech at the American Enterprise Institute, a conservative think tank. (SCI is short for “sensitive compartmented information.”)"Bit by bit, excuse by excuse, we’re putting Donald Trump above the law. “No one should take our effort to reform the electoral count as any indication that Donald Trump did not violate the existing law or did not violate the Constitution,” she said. “Mike Pence was essentially the president for most of that day,” Cheney said.

☆ Sadanand Dhume — Opinion Columnist, East Is East at The Wall Street Journal
▼ + stars: | 2022-09-19 | by ( Sadanand Dhume | ) www.wsj.com time to read: +1 min

Sadanand DhumeSadanand 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. Previously he worked as the New Delhi bureau chief of the Far Eastern Economic Review (FEER), and as Indonesia correspondent for FEER and The Wall Street Journal Asia. 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.

☆ Here’s how persistent high inflation may affect your tax bracket next year
▼ + stars: | 2022-09-19 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

As Americans grapple with soaring prices, experts say it's likely we'll see higher than usual inflation adjustments from the IRS for 2023 — covering tax brackets, 401(k) plan contribution limits and more. Built into the tax code, these yearly IRS changes aim to prevent so-called "bracket creep," when inflation bumps up income and pushes Americans into higher tax brackets, explained Kyle Pomerleau, senior fellow and federal tax expert with the American Enterprise Institute. "This year, we'll see a larger-than-average adjustment because we've experienced higher than usual inflation," he said. This includes higher tax brackets and a bigger standard deduction. For example, the 24% tax bracket may rise to $190,750 of taxable income for joint filers in 2023, up from $178,150 for 2022, Pomerleau estimates.

☆ Justices join debate on Supreme Court's legitimacy after abortion ruling
▼ + stars: | 2022-09-18 | by ( Lawrence Hurley | Lawrence Hurley Covers The Supreme Court For Nbc News Digital. | ) www.nbcnews.com time to read: +9 min

Chief Justice John Roberts, one of the court’s six conservatives, pushed back against some of the criticism in a recent public appearance, saying people should not question the court’s legitimacy just because they disagree with its rulings. It is important that the public think the justices are reaching decisions in good faith based on the law, Girgis said. Sotomayor said at an event in California on Thursday that “there’s going to be some question about the court’s legitimacy” if people think the justices are acting based on politics, according to a Courthouse News Service report. But I don’t understand the connection between opinions people disagree with and the legitimacy of the court,” he said. Conversely, in 1954, Southern states resisted enforcing the landmark Brown v. Board of Education ruling, which ended segregation in public schools.

☆ A top Republican lawmaker says she's 'open to suggestions for ways to stop' Biden's student-loan forgiveness plan
▼ + stars: | 2022-09-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Biden announced up to $20,000 in student-loan forgiveness for some federal borrowers. GOP Rep. Virginia Foxx said she's looking for ways to block that relief. Now, Foxx and some her Republican colleagues are eyeing legal action to overturn Biden's loan forgiveness. "We're looking for ways to stop it, and we're open to suggestions for ways to stop it. Texas GOP Sen. Ted Cruz also recently told The Washington Post that he's "brainstorming" ways to block student-loan forgiveness in court.

☆ Gen Z mistrusts everything — big business, government, other people, you name it
▼ + stars: | 2022-08-25 | by ( Daniel Cox | ) www.businessinsider.com time to read: +10 min

With that question, The Washington Post's technology columnist, Taylor Lorenz, kicked off a recent Aspen Institute panel entitled "Can Gen Z Trust Their Elders?" Across the board, members of Gen Z are less inclined to trust major institutions than their elders are. Add all these factors up, and Gen Z is looking more and more like it will become permanently mistrustful. Why doesn't Gen Z trust anyone? According to a report by Edelman, seven in 10 members of Gen Z say "they will fact-check" any claim made by a business or advertiser.

☆ In the war on recession, Uncle Sam wants YOU — to party, party, party
▼ + stars: | 2022-08-25 | by ( Desmond Lachman | ) www.businessinsider.com time to read: +8 min

Eventually the slowing demand spreads out across the economy: lower wages, higher unemployment rates, less consumer spending, and fewer homebuyers. This conventional view on the inevitability of a recession is highly plausible and should not be dismissed lightly. This soaring demand for goods coupled with crippled supply led to a shortage of goods — and sent prices soaring. And while concerns about the economy and the possibility of a recession have increased, people have kept spending. But as price inflation of goods cools, the shift to spending on services can keep the economy going.

☆ Congress treats the Congressional Budget Office like a crystal ball for legislation, but one economist says their models are built on flawed assumptions
▼ + stars: | 2022-03-12 | by ( Paul Constant | ) www.businessinsider.com time to read: +6 min

In a recent episode, he spoke with economist Mark Paul about the role of the Congressional Budget Office. They run these economic models that I think are the most important policy models out there." The CBO's models are built from flawed assumptions that don't necessarily reflect how legislation might actually behave in the real world. "In the economics literature, what we find is that on average public investment is at least as productive as private investment — and often more so," Paul said. "In fact, there's this really well-known review that shows that public investment is 50% more productive on average than private investment."

☆ Wall Streeters peak between 36 and 40, according to a Harvard social scientist. Here's what they forget to plan for in the second half of their lives.
▼ + stars: | 2022-02-16 | by ( Jonathan A. Knee | ) www.businessinsider.com time to read: +6 min

In his new book, social scientist Arthur C. Brooks explains why addiction to achievement is bound to yield disappointment. To find true joy in the second half of life, invest in relationships instead of material possessions and social status. According to From Strength to Strength: Finding Happiness and Deep Purpose in the Second Half of Life, the basic problem is the inevitable decline in our abilities. The decline in peak performance begins far earlier than we are likely to admit across professions, not just in athletes. Strength to Strength reads like a companion volume to the cult classic from 1979, The Drama of the Gifted Child by Swiss psychoanalyst Alice Miller.

Financial advisors say you don't need a lot of big wins along the way to build wealth over time. Colorado financial advisor Matthew Jackson of Solid Wealth Advisors says this is due to the fact that markets have a history of going nowhere but up over time. Orange County, California, financial advisor Christopher Struckhoff of Lionheart Capital Management says people in general are not great at timing the market because it ultimately involves predicting the future. AdvertisementTo win at market timing, you have to buy and sell your investments at the perfect moment. Not only that, but how much of your returns are you keeping after you pay taxes (assuming you're investing in a taxable brokerage account)?

Persons: —, Matthew Jackson, Black, Jackson, Christopher Clepp, Christopher Struckhoff, Struckhoff, Tony Liddle, Prosper, it's, Liddle, Loren Sherman, Jeff Rose, Anthony Montenegro Organizations: Studies, Service, Dow Jones, Solid Wealth Advisors, Strategic Financial Group, Inc, Fidelity Investments, Lionheart Capital Management, Prosper Wealth Management, Dow, Integrity Wealth Management, milli, American Enterprise Institute, AEI Locations: Colorado, Chicago, YOLO, Orange County , California, Montenegro

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