Why Bipartisanship Is Essential If We’re To Fix American Health Care

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October. Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential…

It takes on both cost and quality. This article is part of David Leonhardt’ s newsletter. The United States is suffering from a college dropout crisis, as I’ ve written before.

WASHINGTON—“ They say millennials are lazy,” billboards plastered across 15 major cities declared last summer.“ Retire early and prove them right.”. That sentiment, reflected in ads for the investment manager Prudential, is the stuff of a 30- year-old’ s fantasy— and the Federal Reserve’ s nightmare. A young generation of aggressive savers could leave central bankers…

That story has the cause and effect backward, yet former New York mayor turned presidential candidate Mike Bloomberg has embraced it. In a 2008 speech at Georgetown that recently surfaced, he attributed the collapse to “pressure on banks to make loans to everyone.” “And then Congress got involved— local elected officials as well— and said,' Oh, that's not fair, these…

Judy Shelton, President Trump's nominee for a seat on the Federal Reserve Board, appears in danger of rejection by the GOP- controlled Senate after she struggled to defend what one Republican senator called' outlier' views during a confirmation hearing Thursday. She has alarmed many in the financial world by calling for more coordination between the Fed and the…

Republicans and Democrats questioned Ms. Shelton, who has ideas outside the mainstream, over her previous statements and views on the Fed’ s independence. Ms. Shelton faced skepticism from both Republicans and Democrats on the Senate Banking Committee, with lawmakers questioning whether she would protect the Fed’ s independence and pressing her about…

Republicans have a long, disreputable history of conflating any attempt to improve American lives with the evils of“ socialism.” When Medicare was first proposed, Ronald Reagan called it“ socialized medicine,” and he declared that it would destroy our freedom. He doesn’ t want to nationalize our major industries and replace markets with central planning; he has…

The popular talking points say that the economy is in great shape and getting better daily. It feels good to think that we’ ve“ won” and everything is on the right track: China is going to buy $50 billion worth of agricultural products, and the U.S.- Mexico-Canada Agreement is going to usher in an era of North American prosperity the likes of which we have never seen.

Mr. Mnuchin told lawmakers that the regulations were being developed with other agencies and financial regulators to improve transparency surrounding digital currencies like Bitcoin. “We are about to roll out some significant new requirements,” Mr. Mnuchin said during a hearing before the Senate Finance Committee.“ We want to make sure that technology moves…

Senator Bernie Sanders emerged victorious from last night’ s New Hampshire Democratic primary, with former Mayor Pete Buttigieg close behind. Why Mr. Sanders may still be beatable. He’ s falling short on his promises of a progressive revolution, writes Ryan Lizza of Politico:. •Mr. Buttigieg and Senator Amy Klobuchar, the top two moderates in New Hampshire, together…

Wall Street investors spent the fall sweating Elizabeth Warren's rise in the Democratic primary field. The latest tracking polls out of the Granite State show Warren, the senator from Massachusetts once expected to finish strongly in her neighboring state, in danger of falling to fourth or fifth place— a possibly crippling blow to her bid after her…

But hopefully she won't be that bad. Such is the damningly faint praise Senate Republicans have offered President Trump's latest unfit nominee for the Federal Reserve Board, Judy Shelton, ahead of her confirmation hearing Thursday. To be clear: As these senators are aware, there are many reasons why this goldbug and Trump economic adviser would, in fact, be that…

The White House makes the case that this is affordable and that the deficit will start to fall, dropping below $1 trillion in the 2021 fiscal year, and that the budget will be balanced by 2035. The new budget forecasts a growth rate for the United States economy of 2.8 percent this year— or, by the metric the administration prefers to cite, a 3.1 percent rate.

On our radar: L Brands is said to be close to a deal to sell control of Victoria’ s Secret to the investment firm Sycamore Partners.. Silicon Valley is abuzz over a series of tweets from Chamath Palihapitiya, the venture capitalist and provocateur, suggesting that investment firms and start-ups should look more closely at who’ s giving them money.

President Trump's unconventional pick for a seat on the Federal Reserve Board, Judy Shelton, will face tough questions this coming week from some key GOP senators. Several GOP senators on the Banking Committee said they have questions for her. The Senate Banking Committee is split along party lines, 13 to 12, so yes votes from all Republicans will probably be…

The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to extend the strong upward move seen over the three previous sessions. Continued buying interest may be generated in reaction to news that China plans to cut tariffs on approximately $75 billion worth of U.S. goods in half. A statement from China's Ministry of Finance…

A third straight day of gains on Wall Street on Wednesday raised stocks to a record, as investors took comfort in signs that the American economy was on solid footing despite risks tied to the spread of the coronavirus both inside and outside China. Worried that efforts to contain the virus would dampen growth in China and elsewhere, traders had battered stock…

A former Long Branch woman plotted the murders of her husband and sister 25 years ago and had her son and an acquaintance carry out the killings before collecting $200,000 in life insurance and moving to Florida, prosecutors said during an hour-long detention hearing on Wednesday for the mother and son. In Superior Court in Freehold, Monmouth County Assistant…

Andrea Vella, the former co-head of investment banking at Goldman Sachs Asia, has been banned from the banking industry for life by the Federal Reserve Board. Why it matters: Goldman Sachs faces billions of dollars in fines for helping facilitate the “heist of the century” in Malaysia. Vella “engaged in unsafe and unsound practices,” says the Fed, by failing to properly escalate…

WASHINGTON- U.S. factory activity unexpectedly rebounded in January after contracting for five straight months amid a surge in new orders, offering hope that a prolonged slump in business investment has probably bottomed out.. A reading above 50 indicates expansion in the manufacturing sector, which accounts for 11% of the U.S. economy. The deal, however, left in…

He last operated an office called Financial Planners Group of America located in Monroe County, Pa.. The next step is for judge Malachy E. Mannion of the U.S. District Court of the Middle District of Pennsylvania to sentence Diaz, but no date for the sentencing has yet been set, said court spokeswoman Dawn Clark. Diaz was charged in an indictment in May 2016 by U.S….

Boeing’ s troubles, trade disruption and a tight job market held back growth last year, and a more subdued expansion appears to lie ahead. Gross domestic product, which measures the value of goods and services produced inside the United States, grew at a 2.1 percent annual rate between October and December, the same as the previous three months, according to…

Wall Street shook off growing fears that a mysterious and fast-moving virus in China could hurt the global economy, even as international markets were hit by those concerns on Thursday. The vast majority of people infected by coronavirus are in China, but governments around the world are taking steps to contain the disease, and the risk to investors is that…

And they partly blame Mr. Biden. Since Mr. Biden began his third campaign for the presidency last April, his supporters have portrayed him as the Democrat best positioned to win back union members who deserted the party in 2016 in crucial industrial states. Mr. Biden, who has longstanding ties to many labor leaders, quickly gained an endorsement from the…

One lucky ticket sold in Florida matched all six numbers in the Powerball Wednesday night and is worth $396.9 million, according to lottery officials.

The U.S. government's budget deficit is projected to reach $1.02- trillion in 2020, according to a report released Tuesday by the nonpartisan Congressional Budget Office, as the federal government continues to spend much more than it collects in tax revenue. Spending for Medicare, which provides health care for older Americans, will rise from $835- billion…

The SEC charged a Wisconsin broker of misappropriating about $2.4 million from retail investor clients, many of whom were elderly and had limited investment experience. According to the SEC complaint, Edward E. Matthes started stealing from clients in April 2013, a spree that continued until March of last year. Throughout this period, he continued to say that…

The Internal Revenue Service just issued Notice 2020-06, which provides guidance to individual retirement account custodians on reporting 2020 required minimum distributions in light of the changes made to Internal Revenue Code Section 401 by the Setting Every Community Up for Retirement Enhancement Act. The RBD was changed from April 1 of the year…

Washington, Wall Street and Main Street are at war over regulatory changes based on a law that requires banks to invest in needy neighborhoods and lend to lower-income consumers. Why it matters: A lot of money is at stake, and neighborhoods across the country could suffer or prosper depending on how (or if) the regulations are changed. Per one regulatory agency, bank loans and…

Investors, who punished stocks in Asia for a second day, are worried that the mysterious epidemic in China could hurt global growth. The pneumonialike illness is spreading, killing 106 people and sickening more 4,500. Health officials in the United States are warning that travelers should avoid nonessential trips to China, while global businesses are…

U.S. stock futures are down sharply this morning on fears about the coronavirus outbreak. •He started the investment firm Bryant Stibel in 2013 with the Web.com founder Jeff Stibel. Bryant Stibel has invested in companies like Dell, Alibaba and Epic Games, the maker of Fortnight.

Interestingly, I cited the same data from Quantifiable Edges last week when I went over whether or not to fight the “Tepper” tape. Anyway, it's Friday, time to cover markets again, and this week we had several more hedge fund billionaires sharing their market views at Davos. In a CNBC interview, Bridgewater founder Ray Dalio warned that' cash is trash'.

But on Thursday, Wells Fargo’ s former chief executive John G. Stumpf was fined $17.5 million— the largest individual fine in the history of the bank’ s main federal regulator— for his role in a toxic sales culture that foisted unwanted products and sham bank accounts on millions of customers. In settlements with the Office of the Comptroller of the Currency, Mr….

On Wednesday, Mr. Trump renewed that criticism from the sidelines of an elite gathering in Davos, Switzerland. “No. 1, the Fed was not good,” Mr. Trump told CNBC when asked why economic growth was closer to 2 percent last year. Mr. Trump also pointed to the grounding of Boeing’ s 737 Max plane and severe storms as factors that held back the economy, but added that“ with all of…

DAVOS, Switzerland— President Trump trumpeted what he called “America's extraordinary prosperity” on his watch, taking credit for a soaring stock market, low unemployment and a “blue collar boom” in jobs and income, in a presidential turn on the world stage also meant to make impeachment proceedings in Washington look small. Trump is making his second visit to the…

The Davos crowd has come to like Trump’ s outcomes. As the 50th annual World Economic Forum— the conclave of global business and political leaders— begins today in Davos, Switzerland, Andrew writes in his latest column that the assembly has warmed to President Trump, at least economically. •“Today I’ m proud to say the U.S. is in the midst of an economic boom the likes of…

In 2006, after meeting the deductible, participants paid 25 percent of the negotiated cost of each prescription until the cost of their drugs totaled $2,250. By last year, those thresholds had risen to $3,820 to fall into the gap and $5,100 to climb out. “It was designed that way because Congress had a self-imposed budget target,” said Tricia Neuman, who directs the…

Has the Federal Reserve lost its mojo? Tepid economic growth and low inflation mean they can’ t raise rates, either,’’ The Wall Street Journal’ s Greg Ipwrote last week.“ The U.S. might not be far behind.’’. The Fed remains the most powerful financial­ institution in the world.

Standing against a backdrop of Chinese and American flags, President Trump welcomed by name a roster of corporate executives and Wall Street bankers to the signing of his landmark trade deal with Beijing. Trump's high-profile China deal celebration included billionaire Stephen Schwarzman, a private equity investor; Sheldon Adelson, whose company owns…

Wall Street has been undergoing a radical change of mind. Abrupt end-of-year attitude adjustments are becoming a habit on Wall Street. And, in fact, markets surged in mid-January, as trade tensions between the United States and China ebbed.

What the agreement means for the U.S. and China. President Trump and Vice Premier Liu He of China signed a long-awaited phase-one trade deal at the White House yesterday. •President Xi Jinping of China.

Buyers, their confidence bolstered by sustained job and income growth, have taken advantage of the lowest borrowing costs in almost three years as Federal Reserve policy makers reduced their benchmark rate three times in 2019.. Fresh earnings announcements show order books are growing at builders including Lennar Corp., with its increasing focus on the…

After nearly two years of a bruising trade war, the new U.S.- China trade deal to be signed Wednesday gives President Trump some immediate benefits and allows both sides to put off the most difficult issues. But below the ceremonial veneer of a White House signing event and Trump's extravagant tweets on his achievement, the hard reality of the so-called Phase 1…

Retirement may come sooner than expected, leaving most Americans unhappy about their preparations, a new study says.

—At a time when Americans hold a record $14 trillion of debt, including mortgages, credit card and student loan debt, according to the New York Federal Reserve, Americans may still be doing better than they realize when it comes to debt. A new survey from New York Life Insurance Company suggests that although debt is growing, the challenge of paying it off is not…

The market resumed its rally from last week, amid renewed trade optimism.

We want a society where we have safe roads, low crime, good public schools and, for times when people fall short financially, a safety net. Our taxes support Medicare, Medicaid and Social Security, which we know have kept millions of seniors out of poverty. Fifty-seven percent of retirees say Social Security is their major source of income, according to a 2019 Gallup…

–A New York wealth manager who overbilled clients and diverted firm funds to inflate his salary by millions of dollars plans to plead guilty to fraud charges. Richard T. Diver, co-founder and former chief operating officer at M&R Capital Management, was arrested in March. Prosecutors in Manhattan said he misused his position as manager of the firm’ s payroll and…

Mike Bloomberg has pitched his tent in the improve-on-Obamacare camp as he tries to forge his own pathway to the White House among a still-crowded Democratic field.. Bloomberg's ad, which your Virginia-dwelling Health 202 author spotted at least three times during the Golden Globe Awards, touts improvements in insurance coverage, life expectancy and infant…

The new year is already bringing new threats to fray nerves from C-suites to Wall Street: Just as the the U.S.- China trade war cools off, the risk of a hot war with Iran is spiking.. “The economic and financial fall-out from Friday's events seems likely to be minor,” Macroeconomic Advisors economists wrote, referencing the U.S. military drone attack that killed Iranian…

A new federal law has been hailed for its retirement savings reforms. But while it makes tweaks to IRAs, it probably won't make them more popular.

Stock futures fell and oil prices rallied Friday after a U.S. airstrike killed an Iranian military leader, reigniting geopolitical tensions in the Middle East.

Tensions, and oil prices, rise after U.S. move against Iran. U.S. officials said General Suleimani had been hit in a drone strike at Baghdad International Airport. Critics of the killing worry that it will cause huge trouble for the U.S. and allies like Israel, including putting America closer to war with Iran.“ Managing the trouble this strike seems likely to produce…

The Trump White House and Washington policymakers have touted the tight labor market as the main engine driving gains for the working class, but a Washington Post analysis of Labor Department data suggests that paychecks also grew because of a nationwide movement of rising minimum wages in various states and cities over the past couple of years.

Under normal circumstances, the U.S. economy would be poised to greet 2020 with optimism. Signals suggest exports will be more competitive. The economy, consumer spending, business investment, unemployment, interest rates, inflation and wages look good.

You don't own a crystal ball. You can't foresee births, deaths, divorces, stock market swoons or huge rallies. So make a financial plan.

Want individual stock ideas for 2020? Want ideas for the part of your portfolio in mutual funds? Look at how one of 2019's best mutual funds invests.

Congress recently passed one of the most significant changes to retirement savings regulation that has occurred in years. The “Setting Every Community Up for Retirement Enhancement or” SECURE Act “as it is known, was included as part of the massive $1.4 trillion spending bill. Keep in mind, this new RMD rule will only apply to individuals who turn 70 ½ after Dec. 31,…