Mother Jones, a liberal news website, reports that it has copies of internal memorandums circulated by Barclays, a powerful London-based bank and financial services firm. In one such memo, the bank warns that a Warren presidency “would directly impact corporate earnings.”
Read moreState insurance regulators moved briskly through four topics as they try to thread the needle between suitability and fiduciary in crafting an annuity sales model law.
Nearly 700 health insurance and benefits advisors from across the nation will travel to Washington to meet with members of Congress. In addition, NAHU members will hear from industry experts, members of Congress and members of the Trump administration as they look at the future for health care reform.
Congress has a lot of its plate, but financial services would like to see a retirement income security bill get passed before the end of the year.
President Donald Trump said Thursday that he intends to nominate two people to serve on the Federal Reserve’s Board of Governors, an institution he has repeatedly attacked for not cutting rates deeply enough.
The trading, prosecutors said, enabled Cameron Collins and friends to dodge $800,000 in losses. Collins, one of President Donald Trump's earliest supporters, had represented western New York since his election to the 27th Congressional District of New York in 2012.. They noted that he learned that Innate Immunotherapeutics Ltd., whose board he sat on, had…
The Government Accountability Office said Thursday that the Trump White House broke the law by holding up military assistance money to Ukraine— a revelation that Democrats say bolsters their impeachment case against President Trump. Republicans, though, said the revelations are more evidence that Democrats went off half-cocked, and produced a flawed…
Since President Trump's election, the Dow Jones Industrial Average has hit 127 record closings–more than any other president's first three years since 1952. But wealth gains under the Trump Administration extend far beyond the stock market, and–in contrast to past periods of economic expansion–recent growth is not only concentrated among the…
—Share prices were mostly higher Thursday in moderate trading in Asia after the U.S. and China signed a preliminary trade agreement that investors hope will bring better relations between the two biggest economies. Shares fell in China, with the Shanghai Composite index giving up 0.5% to 3,074.08. In return, Beijing has agreed to step up its purchases of U.S. farm…
The documents, obtained from Lev Parnas as part of the impeachment investigation, show Parnas communicating with Giuliani before the removal of Marie Yovanovitch, who was the U.S. ambassador to Ukraine. Democrats released the files Tuesday as they prepared to send articles of impeachment to the Senate for Trump's trial. The documents add new context to their…
Exactly four weeks after the House adopted two articles of impeachment for President Donald Trump, Democrats in the chamber took the first step Wednesday toward sending the charges over to the Senate for trial. Hakeem Jeffries of New York, Val Demings of Florida, Zoe Lofgren of California, Jason Crow of Colorado and Sylvia Garcia of Texas. A House vote to send the…
—U.S. wholesale prices rose a slight 0.1% in December as a jump in the cost of energy was offset by falling food prices. The Labor Department said Wednesday the December increase in its producer price index, which measures inflation pressures before they reach the consumer, followed no change in November. The Federal Reserve cut interest rates three times in 2019…
President Donald Trump and China's chief negotiator, Liu He, are scheduled to sign a modest trade agreement in which the administration will ease some sanctions on China and Beijing will step up its purchases of U.S. farm products and other goods. The U.S. has yet to reveal details of the agreement, though U.S. Trade Representative Robert Lighthizer has said they…
New research offers the strongest cue yet for battling political parties to call a truce and cooperate with one another. Kiplinger Personal Finance now reveals that typical Americans now consider “political deadlock” to be the greatest threat to the U.S economy.
ANKERSLEY New York Times News Service. WASHINGTON- The federal budget deficit surpassed $1 trillion in 2019, the Treasury Department reported on Monday, as tax cuts and spending increases continued to force heavy government borrowing amid a record- long economic expansion. The gap had narrowed through 2015 under a budget agreement between President Barack…
Let's face it: 2019 is going to be a hard year to beat- stocks and 401 plans up more than 25% on average, wage gains of 3% to 5%, 7 million surplus jobs and the lowest unemployment and inflation rates in nearly 50 years. The imperative is for Republicans to connect the dots between this banner year for the middle class and tax cuts, deregulation policies and pro-America…
There’ s new evidence to help show that many Northerners are packing their belongings– and bank accounts– and heading to Florida and other zero income-tax states. Newly released IRS data for 2018 shows Florida– which has no personal income tax– had a 3 percent increase over 2017 in the migration of net personal income– the dollars coming into the county versus what’ s…
For the overwhelming number of Americans who have little interest in adding a war with Iran to the list of ill-advised, modern U.S. military conflicts, this week brought only confusion about what lies ahead. Intelligence analysts, cyber security experts and former U.S. officials worry that Iran’ s next retaliatory move will be quieter and more sinister: a…
Vice Premier Liu He, Beijing’ s chief envoy in talks with Washington over their tariff war, had been expected to attend the signing but the Commerce Ministry’ s statement was the first official confirmation. Under the“ Phase 1” deal, Beijing agreed to buy more American farm goods and Washington's chief negotiator, Robert Lighthizer, said it would make changes to…
Jeff Merkley, D- Ore., and Rand Paul, R- Ky., the resolution stresses that neither the 2001 Authorization for Use of Military Force Against Terrorists nor the 2002 AUMF Against Iraq legally permits the use of military force against Iran. “The American people do not want another endless war in the Middle East– yet, what we've seen in recent days is a president willing to…
Uncertainty about the U.S. economic outlook for 2020, no doubt, has edged up after a U.S. drone strike on Jan. 2 took out a top Iranian military commander, Qassem Soleimani. Early Tuesday evening, the White House confirmed that President Donald Trump had been briefed about an attack by Iran against an air base in Iraq housing U.S. troops.
Billionaire businessman, philanthropist and former New York Mayor Michael Bloomberg brings his late-developing presidential campaign to Chicago and Illinois for the first time Wednesday morning as part of a three-stop swing through the Midwest to unveil a jobs plan aimed at regions of the country he contends have been“ left behind.”. To illustrate his point,…
Iran's missile attack on two American bases in Iraq in response the the U.S. strike that killed its top general is the culmination of nearly two years of steadily rising tensions since President Donald Trump withdrew from Iran's 2015 nuclear deal with world powers. May 8, 2018: Trump announces that the U.S. is withdrawing from the nuclear deal signed by his…
—The latest on U.S.- Iran tensions after the U.S. airstrike that killed Iran's top general:. The Iraqi military says there are no casualties among its troops as a result of an Iranian missile strike at bases in Iraq used by U.S. forces. He spoke after an Iranian missile strike at military bases in Iraq used by U.S. forces.
Bill Gates started the last decade worth more than $50 billion and with a pledge to donate large parts of his fortune to charity. By the end of the decade, he’d given billions of dollars to fight poverty and improve health care and education. But his fortune also more than doubled during the period, a result of soaring stock markets and favorable tax policies.
Could the U.S. economy really avoid a recession in 2020? The longest economic expansion in U.S. history, which kicked off in June 2009, apparently has more gas in the tank, according to one leading economist.
—The latest on the U.S. airstrike near Baghdad that killed Iran's top general:. Calls for restraint are growing after a U.S. airstrike killed Iran's top military commander in Baghdad and Iran's supreme leader vowed a“ harsh retaliation.”. Former U.S. national security adviser John Bolton is congratulating all involved for“ eliminating ” Iran's top military…
Harold Wimmer, president of the American Lung Association issued a statement pointedly criticizing the proposal. “The American Lung Association is deeply disappointed to hear reports that the administration intends to release guidance that will allow menthol-flavored Juul and thousands of flavors of e-cigarettes sold in vape shops to remain on the…
Asylum seekers may face additional hurdles to winning protection in the United States after the Trump administration unveiled a proposed rule that would place new restrictions on the system. People who are convicted of “aggravated felonies”— a legal term created by Congress to refer to certain crimes that should be taken into account in immigration…
Doug Jones, D- Alabama, along with Sen. Susan Collins, R- Maine, sponsored the Military Widow's Tax Elimination Act, which has been repeatedly introduced in the Senate for nearly two decades. The law in question was enacted in 1972, and advocates say it has prevented some 67,000 surviving military spouses, including 2,000 in Alabama, from receiving their full…
Japan's national intelligence agency issued a warning regarding potential North Korea interference in the 2020 U.S. presidential election and South Korea's parliamentary election next year. The Japanese agency stated the future of U.S.- North Korea negotiations remain “uncertain” despite the informal encounter in June between President Donald Trump and…
For decades, Democrats would rail against the “wealthiest 1%” and “tax cuts for the rich,” often before audiences of some of the wealthiest people in America. And we need to call it out for what it is, “Warren said in the most recent Democratic debate, before calling out Mayor Pete Buttigieg. “Billionaires in wine caves should not pick the next president of the United…
While the U.S. House was voting for the impeachment of President Donald Trump, the U.S. Court of Appeals for the 5th Circuit in New Orleans ruled against Obamacare's individual mandate requirement that nearly everyone must have health insurance or pay a penalty. It's gone, ” Donald Trump told reporters before a Cabinet meeting. That means it probably won't be…
According to Brad Setser, Senior Fellow for International Economics, Council on Foreign Relations, the world should “expect more of the same in 2020.” “In many ways, the most interesting questions for 2020 do not come from the United States, but from the other main poles of the world economy. Another question is what will happen to China's trade: Chinese imports fell…
—China said Monday it will reduce tariffs Jan. 1 on more than 850 foreign products including frozen pork, asthma medications and some high-tech components to spur economic development. The step adds to a series of tariff cuts over the past two years that Beijing says are aimed at improving supplies of consumer goods and encouraging competition.
Whatever emotion, it's likely to be much the same as you felt last week when majority Democrats on the House Judiciary Committee unveiled the articles of impeachment they say warrant the 45th president's removal from office. Reading the eight-page resolution containing the Democrats' allegations of abuse of power and obstruction of Congress isn't going to…
TALLAHASSEE– With President Donald Trump's impeachment before Congress, a top administration official Wednesday joined Gov. Trump's Health and Human Services Secretary Alex Azar said the administration is going forward with efforts to allow Florida and other states to import prescription drugs from Canada, potentially reducing costs for consumers and…
Global shares were mixed Wednesday after Wall Street logged fresh record highs but investor optimism faded about an interim U.S.- China trade deal announced last week. U.S. shares were set to drift slightly higher with Dow futures inching up to 28,288. S&P 500 futures were also slightly higher at 3,195.90.
—U.S. industrial production snapped back last month, posting the biggest gain in more than two years, boosted by the end of a strike at General Motors. The Federal Reserve said Tuesday that industrial production— which includes output at factories, mines and utilities— rose 1.1% in November, reversing a 0.9% drop in October and recording biggest jump since October…
House leaders unveiled a $1.4 trillion government-wide spending package with an unusually large load of unrelated provisions catching a ride on the last train out of Congress this year. The financial services industry comes out a winner with the inclusion of the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 in the 2020 spending package.
The House rules committee will meet Tuesday to go over parameters of the voting process in the full chamber on Wednesday, where President Donald Trump is expected to become just the third U.S. president to be impeached. The House judiciary committee approved both articles of impeachment last week, for abuse of power and obstruction of Congress.
—Senate Democrats are pushing for testimony from top White House officials in the rare impeachment trial that is fast becoming the next battleground ahead of House voting that is all but certain to result in President Donald Trump's impeachment. But already attention is turning to the Senate trial, where the Republicans are expected to acquit Trump in…
Under Paul Volcker’s leadership from 1979 to 1987, the Fed switched from controlling interest rates to controlling the supply of money, and then letting financial markets set its price. The resulting inflation left Volcker staring down many critics from both sides of the aisle.
Some polls in recent weeks have provided an encouraging picture for President Trump of strengthening support among black voters. The Wall Street Journal, for instance, reports on new polling from the Kaiser Family Foundation showing outsize support from blacks for “Medicare for All.” Additional recent polling from The Economist/YouGov on Dec. 1-3 gives more…
The House judiciary committee will reconvene Friday to vote on two articles of impeachment against President Donald Trump after its Democratic chairman ended the marathon hearing Thursday night. The committee debated the nine-page resolution charging Trump with two offenses for 14 hours Thursday without holding a vote when committee chairman Jerold…
Three times since August, the Federal Reserve has cut the federal funds rate — the rate banks charge each other for overnight loans and that strongly influences the short-term rates they charge businesses. However, Chairman Jerome Powell has made clear the Fed won’ t lower rates further as long as the economy continues to grow at its current moderate pace.
—U.S. wholesale prices were unchanged in November as the rise in energy costs slowed following a big gain in the previous month. The Labor Department said Thursday that the flat reading in November on its producer price index, which measures inflation pressures before they reach the consumer, followed a sizable 0.4% increase in October which had been driven by a…
UGABER WASHINGTON- The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year. The Fed's decision follows three rate cuts this year and reflects its view that the U.S. economy has, so far, withstood the U.S.- China trade war and a global slump and remains generally healthy.
—Higher energy prices lifted U.S. overall consumer prices in November. The Labor Department said Wednesday that its consumer price index rose 0.3% last month after rising 0.4% in October. The Fed has cut the short-term interest rate it controls three times this year, partly to protect a record-breaking U.S. economic expansion from the effects of President…
Dec. 11– PLATTSBURGH– Local, state and federal officials shared their support after House Speaker Nancy Pelosi announced Tuesday that House Democrats and the White House had reached a deal on the United States- Mexico-Canada Agreement. She said the agreement continues NAFTA's zero-tariff treatment, expands access to the Canadian market for U.S. dairy…
The Federal Reserve is set to leave its benchmark interest rate unchanged Wednesday and will likely signal that it expects rates to remain low well into next year despite a robust job market. Many economists have said they think sluggish growth will even compel the Fed to cut rates at least once in 2020.
—Facing intense pressure to answer questions about his work in the private sector, Democratic presidential contender Pete Buttigieg on Tuesday disclosed a roster of former consulting clients that include a major health insurance provider, a nationwide electronics retailer, the U.S. Department of Energy and the Department of Defense.
–Demand from prospective homebuyers and lack of supply from the existing home market are expected to boost new home sales and housing starts in 2020 according to data from the latest Health of Housing Markets Report from Nationwide economics. Among the positive demand factors are: solid job gains, historically low mortgage rates and above-trend household…
Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession, always maintained it was the price to be paid for quashing double-digit inflation.
President Trump is riding one of the strongest economies in modern U.S. history, even as House Democrats move their impeachment effort into high gear this week. White House economic adviser Larry Kudlow summed up the jobs report for the president this way: “It's a sunny day, sir.” The White House and its Republican allies are using the historically strong economy as…
Sure, the youngsters might say,“ OK, boomer” on hearing Joe Biden utter the word, but if you think he’ s all wet for using it, you can take your phonus bolonus and tell it to Sweeney. Mr. Biden has never really been my cup of tea. Most of the Twitterati weren’ t even twinkles in their father’ s eye when Mr. Biden first ran for the Senate, and it’ s no surprise they don’ t get his appeal.
Friday’ s November jobs report will provide insight into whether steady hiring remains a source of strength for the U.S. economy even as the Trump administration’ s trade conflicts have heightened uncertainties for employers. Renewed concerns that trade will continue to hamper the U.S. economy drove stock prices lower earlier this week.
Democrats are charging toward a Christmastime vote on removing the 45th president, a situation Pelosi hoped to avoid but which now seems inevitable. Trump is alleged to have abused the power of his office by putting personal political gain over national security interests, engaging in bribery by withholding $400 million in military aid Congress had…
Dec. 4– PLATTSBURGH– The impeachment inquiry into President Donald Trump continues today with a House Judiciary Committee hearing featuring four constitutional scholars as witnesses. On Feb. 20, the Judiciary Committee argued that “an indictable offense standard was too narrow and impeachment should also apply to conduct at odds with the performance of…
President Trump said Monday he will slap tariffs on steel and aluminum imports from Argentina and Brazil, accusing those countries of hurting U.S. farmers through currency manipulation. Brazil has been stepping up as a major supplier of soybeans to China as Beijing cut back on its U.S. farm purchases in retaliation for the tariffs. “U.S. Markets are up as much as…
That’ s one of the findings of a Bank of America survey of owners taken during July and August and obtained by The Associated Press. The Institute for Supply Management, an industry organization for corporate purchasing executives, said its index of manufacturing activity fell to 48.1 in November from 48.3 in October. “Global trade remains the most significant…
—The Latest on the COP21 climate summit in Madrid:. Democratic members of Congress say the United States remains committed to the Paris climate accord despite President Donald Trump’ s decision to withdraw from the 2015 agreement. House Speaker Nancy Pelosi told an audience Monday at this year’ s U.N. climate meeting in Madrid that“ we’ re still in it.”.
Former Vice President Joe Biden has retaken the lead in the Democratic primary race for president as Senator Elizabeth Warren's numbers have plummeted, according to a Quinnipiac University national poll released today. Biden receives 24 percent of the vote among Democratic voters and independent voters who lean Democratic, while South Bend Mayor Pete…
