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Scott Pelley interviews President Joe Biden in Detroit and at the White House to discuss inflation, Russia’s war on Ukraine and U.S.-China tensions. Tonight ... Show more
https://cbsn.ws/3f0IOdN
State legislatures could save taxpayers from absorbing student loan debt: President Biden’s plan to have taxpayers cover the cost of canceling student debt has ...
thehill.com/opinion/finance/3645521-state-legislatures-could-save-taxpayers-from-absorbing-student-loan-debt/
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Why has fact-checking disappeared under Biden?: The perception of fact-checkers has taken a big hit, at least among Republicans and independents.
thehill.com/opinion/white-house/3647706-why-has-fact-checking-disappeared-under-biden/
State legislatures could save taxpayers from absorbing student loan debt: President Biden’s plan to have taxpayers cover the cost of canceling student debt has ...
thehill.com/opinion/finance/3645521-state-legislatures-could-save-taxpayers-from-absorbing-student-loan-debt/
US economy grew less than expected in first quarter at 1.6% rate: Higher than expected price pressures cast doubt on potential for Fed rate cuts
ft.com/content/f9e3ebdd-0977-4b12-84cd-25c7380f91cb
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Quick Glance: Unlikelihood of Fed Rate Cut Before Elections Disrupts Markets
- Investors cast doubt on a Fed rate cut before September.
- Expectations are now fully priced in for a rate cut on November 6-7.
- The shift in market expectations stemmed from inflation and growth data.
- There is now an estimated 75 percent likelihood of a Fed rate cut by September.
Jay Powell says US inflation ‘taking longer than expected’ to hit target: Comments from Federal Reserve chair come amid mounting doubts about pace of interest ...
ft.com/content/3d0ddbe1-4637-4262-ba40-934015606166
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
The 3.5 Percent Inflation Plateau: Prices have been rising faster than expected for the past three months. What’s going on?
theatlantic.com/ideas/archive/2024/04/inflation-above-fed-target/678174/
About 1 in 4 U.S. adults over 50 say they expect to never retire, an AARP study finds
pbs.org/newshour/economy/about-1-in-4-us-adults-over-50-say-they-expect-to-never-retire-an-aarp-study-finds
Is Japan finally becoming a ‘normal’ economy? : Prices are rising, workers are demanding higher pay and the stock market is booming. But the country still has to ...
ft.com/content/88174b91-27d6-4936-ba5c-62c831b0a1c7
Quick Glance: Record Audience at NCAA Women's Championship
- South Carolina's victory over Caitlin Clark and Iowa in Sunday's women's NCAA championship game garnered a preliminary average viewership of 18.7 million on ABC and ESPN.
- Nielsen's final numbers on Tuesday may reveal an increase in viewership.
- It marks the most-watched basketball game since 2019, when the men's NCAA title game between Virginia and Texas Tech averaged 19.6 million viewers on CBS.
- The women's final also recorded the highest viewership for a Sunday afternoon sporting event on ESPN and ABC since early 2021.
Resurgent inflation looms over Joe Biden’s White House bid: Consumer prices are rising quickly at just the wrong time for the US president
ft.com/content/d8520a33-f202-4679-b6f7-99fe9e4fb3ae
Investors raise bets on euro falling to parity with dollar: Eurozone borrowing costs seen as likely to fall first as strength of US economy lowers chance of ...
ft.com/content/700f0282-e939-4441-8093-6e012c39f4bd
Why experts say inflation is relatively low but voters feel differently: Grocery prices are a key component of any household budget, and rising food prices can ...
npr.org/2024/04/25/1247177492/why-experts-say-inflation-is-relatively-low-but-voters-feel-differently
Quick Glance: Rising Key Fed Inflation Measure in March
- In March, inflation remained strong, with an important indicator closely monitored by the Federal Reserve indicating elevated price pressures.
- The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, above expectations.
- Both the all-items PCE price gauge and the core index increased by 2.7%, higher than estimates, leading to a positive market reaction.
- Markets reacted mildly to the data, with Wall Street set to open higher, while Treasury yields fell and the probability of rate cuts increased slightly.
Mortgage rates top 7 percent for first time in 2024: Mortgage rates topped 7 percent for the first time this year, according to data released Friday by Freddie ...
thehill.com/business/4605828-mortgage-rates-top-first-time/
Quick Glance: Mortgage Rates Surge Above 7% in 2024, Posing Major Dilemma for Homebuyers
- US mortgage rates have surged above 7%, increasing costs for homebuyers.
- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
- Uncertainty surrounding rate trends poses a decision dilemma for potential homebuyers.
- Experts anticipate a moderate easing of mortgage rates later in the year.
Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
axios.com/2024/04/13/biden-trump-inflation-worse-tariffs
Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
- The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.
- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
US employers added a surprisingly robust 303,000 jobs in March in a sign of economic strength
apnews.com/article/jobs-hiring-unemployment-economy-inflation-federal-reserve-1e456b8df0e11b218ed50f1ead6f6797
Quick Glance: US economy adds impressive 303,000 jobs last month
- Employers added 303,000 jobs in March, bringing the unemployment rate down to 3.8%.
- US stock futures rose slightly on Friday morning, but markets have had a rough week.
- The S&P 500 companies are expected to report positive first-quarter earnings, fueling optimism in the market.
- Investors are hopeful for a strong earnings season to continue the stock rally amidst concerns about inflation and interest rates.
Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
ft.com/content/bdd37729-8225-4f52-ae88-a7edeb329bb5
US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
ft.com/content/7d1199bb-8283-49c3-801e-249938bcbae8
Yellen says economy performing well, inflation will ebb: Treasury Secretary Janet Yellen said on Thursday that the U.S. economy "continues to perform very ...
reut.rs/3QePZz6
Jamie Dimon warns rates could stay high as market mood shifts: JPMorgan chief says inflation could be ‘stickier’ than markets expect in annual letter to ...
ft.com/content/9c3b136c-79c0-4347-9cc9-b90e5489a85f
Quick Glance: Jamie Dimon warns of potentially prolonged high rates
- JPMorgan chief Jamie Dimon warns in his annual letter to investors of potentially prolonged higher inflation and interest rates due to high government spending.
- Dimon mentioned that the economy is being fueled by government deficit spending and past stimuli, which could lead to potentially stickier inflation and higher rates.
- Financial markets have significantly reduced their expectations for the number of expected rate cuts by the US Federal Reserve, with only two quarter-point cuts planned in 2024.
- Dimon also warns of the risks of the private credit market boom and emphasizes that regulations may increasingly focus on this market, warning of geopolitical risks due to events like Russia's invasion of Ukraine.
Biden needs to face facts: He’s still losing to Trump : For President Biden and the Democrats, thing are looking ugly in November.
thehill.com/opinion/campaign/4604865-biden-needs-to-face-facts-hes-still-losing-to-trump/
Stock market today: Dow drops 375 points after weak GDP data: Stocks dropped and bond yields rose as investors digested a tough reality of slowing GDP growth and ...
markets.businessinsider.com/news/stocks/stock-market-today-gdp-1q24-inflation-economy-tech-stocks-microsoft-2024-4
Markets Insight: The myth of long-term high prices: High inflation will soon be history. Longer-term factors should ensure a moderate price trend in the future ...
handelsblatt.com/finanzen/anlagestrategie/kolumnen/maerkte-insight-der-mythos-langfristig-hoher-preise/100026419.html
Could interest rate hikes be keeping inflation high?: The stickiness of the post-pandemic inflation is raising questions about how effective high interest rates ...
thehill.com/business/4612114-could-interest-rate-hikes-be-keeping-inflation-high/
Hundreds of young supporters of Donald Trump lined up for his recent Green Bay, Wisconsin, campaign rally. The most common reason many are backing the former ...
reut.rs/49HtDgh
California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4
Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
Mortgage rates hit highest level since November after hot inflation report: Mortgage rates jumped to their highest reading since November as the timeline for ...
thehill.com/business/housing/4585910-mortgage-rates-hit-highest-level-since-november-after-hot-inflation-report/
Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...
thehill.com/policy/energy-environment/4590251-biden-administation-raises-costs-drill-public-lands/
Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors
- The Biden administration has finalized a new rule requiring oil companies to pay at least ten times more for drilling on federal lands to generate more revenue for taxpayers.
- While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.
- The rule mandates higher bonds and royalties for fossil fuels on federal lands to better compensate taxpayers and cover the costs of cleaning up abandoned wells.
- In addition to reshaping fossil fuel production on federal lands, the administration has advanced renewable energy development on these tracts and significantly reduced rents and fees for clean energy projects.
The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
npr.org/2024/04/12/1244273973/forever-stamp-cost-price-going-up-usps-postage
Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
smh.com.au/politics/federal/business-defaults-soar-as-australian-house-prices-outpace-the-globe-20240416-p5fk42.html
Few in new poll say Biden law has helped fight climate change: Very few Americans believe the Inflation Reduction Act (IRA), signed into law by President Biden ...
trib.al/XuRnSYN
Poll: Election interest hits new low in tight Biden-Trump race: Amid a tight Joe Biden-Donald Trump race, the share of voters with high interest in the election ...
nbcnews.com/politics/2024-election/poll-biden-trump-tight-race-election-interest-low-rcna148170
Quick Glance: Poll: Election Interest Declines in Tight Biden-Trump Race
- The interest of voters in the election has reached the lowest point in two decades at this stage in a presidential race.
- The latest national NBC News poll reveals that the number of voters with high interest in the 2024 presidential election has nearly hit the lowest point in almost 20 years, with a majority holding negative views of President Joe Biden and former President Donald Trump.
- Inflation and immigration top the list of the country's most pressing issues, with only one-third of voters giving Biden credit for improving economic performance.
- The survey also highlights how the low voter interest and the independent candidacy of Robert F. Kennedy Jr. could potentially disrupt what has been a stable presidential contest with over six months until Election Day.
Why are auto insurance premiums so high? Blame inflation and a few other factors: Wednesday's inflation report showed consumer price growth continues to drift ...
nbcnews.com/business/consumer/auto-insurance-premiums-costs-high-prices-inflation-explainer-rcna147204
Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries
reuters.com/markets/us/wall-st-week-ahead-surging-us-energy-shares-reflect-robust-growth-inflation-2024-04-12/
Biden, Senator Bernie Sanders push companies to cut cost of asthma inhalers, prescription drugs
reuters.com/world/us/biden-senator-sanders-highlight-efforts-lower-cost-asthma-inhalers-2024-04-03/
U.S. Mortgage Rates Jump Above 7% for the First Time This Year: Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent ...
nytimes.com/2024/04/18/business/mortgage-rates.html
Producer prices come in softer than consumer prices in March: Producer prices rose less than economists expected in March after consumer prices came in hot ...
thehill.com/business/4588023-producer-prices-come-in-softer-than-consumer-prices-in-march/
America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
economist.com/leaders/2024/04/17/americas-interest-rates-are-unlikely-to-fall-this-year
JPMorgan CEO warns interest rates could rise to 8 percent ‘or even more’: JPMorgan Chase CEO Jamie Dimon warned that interest rates could rise to 8 percent or ...
thehill.com/business/4585341-jpmorgan-ceo-dimon-warns-interest-rates-8-percent/
Hot inflation may put Fed rate cut in thick of election season: Hot U.S. inflation data has put the Federal Reserve's debate over a first interest rate cut on a ...
reuters.com/world/us/hot-inflation-may-put-fed-rate-cut-thick-election-season-2024-04-11/
How California fast food restaurants raised menu prices in response to $20 minimum wage
nypost.com/2024/04/16/business/california-fast-food-restaurants-raised-prices-due-to-minimum-wage/
Republicans more likely to say cost of living has gone up since 2020: survey: Pandemic-era inflation has placed a financial burden on many Americans ...
thehill.com/business/personal-finance/4581240-most-americans-cost-of-living-up-survey/
Stock market today: Stocks slide for the 5th straight session: The S&P 500 hit its worst losing streak since last October as investors recalibrate amid forecasts ...
markets.businessinsider.com/news/stocks/stock-market-news-fifth-loss-fed-speakers-rate-cuts-delay-2024-4
How Trump’s tariff plans could kill jobs and worsen inflation: Tariff Man could be back in the White House next year – and he’s promising the sequel will be even ...
cnn.com/2024/04/11/economy/trump-tariffs-trade-jobs-inflation/
Mulvaney: How Biden’s regulations are driving up inflation: Every time Biden’s administration adds another regulation making it harder or more expensive ...
thehill.com/opinion/4571477-mulvaney-how-bidens-regulations-are-driving-up-inflation/
The truth comes out: US is paying dearly for outperformance : The United States is floating on a giant pumped-up air mattress of excess federal spending and no ...
thehill.com/opinion/finance/4602451-the-truth-comes-out-us-is-paying-dearly-for-outperformance/
5 worries keeping Biden, Democrats up at night: President Biden’s campaign is feeling good about where it is in its battle for reelection ...
thehill.com/homenews/campaign/4605899-five-worries-keeping-biden-democrats-up-at-night/
Trump Media tells shareholders how to block their DJT stock being loaned to short sellers
cnbc.com/2024/04/18/trump-media-tells-djt-shareholders-how-to-block-short-sellers.html
Billionaire In-N-Out heiress Lynsi Snyder claims she went 'toe-to-toe' to keep prices down as Calif. fast food industry, prices slammed by minimum wage hike
nypost.com/2024/04/11/business/in-n-out-president-lynsi-snyder-went-toe-to-toe-to-keep-menu-prices-down/
Gold slips from record levels after hot US inflation data: Gold prices slipped from record-high levels on Wednesday as the U.S. dollar and Treasury yields firmed ...
reuters.com/markets/commodities/gold-near-record-high-inflation-risk-lifts-safe-haven-appeal-2024-04-10/
Ringgit opens higher despite greenback strength: KUALA LUMPUR: The ringgit opened higher against the US dollar today although the greenback’s appeal as a ...
thestar.com.my/business/business-news/2024/04/17/ringgit-opens-higher-despite-greenback-strength
US job openings rise modestly to 8.8 million in February in strong labor market: U.S. job openings barely changed in February, staying at historically high ...
abcnews.go.com/US/wireStory/us-job-openings-rise-modestly-88-million-february-108749287
Why gold prices are at record highs: From central banks to Costco customers, it seems everyone is buying gold these days.
cnn.com/2024/04/09/economy/gold-prices-record-highs/
America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
economist.com/leaders/2024/04/17/americas-interest-rates-are-unlikely-to-fall-this-year
Biden claims inflation was 'skyrocketing' when he took office, despite data showing opposite
foxbusiness.com/politics/biden-claims-inflation-skyrocketing-took-office-despite-data-showing-opposite
U.S. economy grew at 1.6% annualized rate in first quarter: By comparison, GDP increased at 3.4% annual rate in the fourth quarter of 2023.
axios.com/2024/04/25/us-economy-gdp-report-q1-2024
Focus: Soaring insurance costs hit as US buyers finally get a break on car prices
reuters.com/markets/us/soaring-insurance-costs-hit-us-buyers-finally-get-break-car-prices-2024-04-11/
Mortgage demand falls again as interest rates soar past 7%: A key measure of home-purchase application fell for the third straight week as mortgage interest ...
foxbusiness.com/economy/mortgage-demand-falls-again-interest-rates-soar-past-7
How immigration is helping the economy defy expectations: Policymakers are increasingly pointing to an immigration influx and a bolstered U.S ...
thehill.com/homenews/4581122-how-immigration-is-helping-the-economy-defy-expectations/
Wall Street traders keep underestimating America’s economic strength: It's the exact opposite of what happened in the 2010s
axios.com/2024/04/14/stock-market-bonds-interest-rates-us-economy
US bond bulls lean into latest selloff despite inflation scare: A sharp selloff in U.S. bonds so far in April is prompting some investors to consider allocating ...
reuters.com/markets/us/us-bond-bulls-lean-into-latest-selloff-despite-inflation-scare-2024-04-22/
New I Bond rates won't be tantalizing but they could be decent: Inflation has cooled from a recent peak of 9.1% in June 2022. I Bond rates have pulled back, too ...
freep.com/story/money/personal-finance/susan-tompor/2024/04/24/inflation-is-hot-but-not-enough-to-drive-i-bonds-to-sky-high-returns/73414755007/
Ticket prices for the women's Final Four games rival the men's: Call it the Caitlin Clark effect: The average sales price for a ticket to the women's college ...
npr.org/2024/04/05/1243082266/final-four-womens-mens-ticket-prices
When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election
economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts
Here are the tax brackets to file your 2023 taxes: The tax brackets for Americans will shift upward for tax year 2023, following a series of rule adjustments to ...
thehill.com/business/4595268-here-are-the-tax-brackets-to-file-your-2023-taxes/
Fast-food businesses hiking prices because of higher minimum wage sound like Gordon Gekko
usatoday.com/story/opinion/voices/2024/04/24/california-minimum-wage-restaurants-fast-food-raise-prices/73332922007/
Trump to host rally on Biden's home turf in northeast Pennsylvania: Donald Trump’s rally in northeast Pennsylvania, an area President Joe Biden considers home ...
abcnews.go.com/Politics/wireStory/trump-host-rally-bidens-home-turf-northeast-pennsylvania-109189340
Stock market sell-off has 'further to go,' JPMorgan warns: JPMorgan analysts warned in a note to clients this week that the U.S. stock market sell-off has ...
foxbusiness.com/markets/stock-market-selloff-has-further-go-jpmorgan-warns
Five things to know as the tax deadline looms: April 15th, the deadline to file your income taxes, is just around the corner. Filings so far this year are on ...
npr.org/2024/04/11/1242535266/taxes-irs-filing-money
Quick Glance: Gender Pay Gap in UK Supermarkets and Income Impact
- UK supermarkets are closing gender pay gap, with Morrisons experiencing a rise.
- Ocado and Lidl show the most improvements, while Morrisons has the largest gap.
- Hourly pay differences are reported by government service.
- Equality initiatives and workplace improvements at M&S and Co-op.
Parents are struggling with high prices this year. It may shape how they vote: Inflation is a top-of-mind issue for many Americans during this year's ...
npr.org/2024/04/06/1242873226/parents-inflation-election-2024
FTC calls out profits as a driver of grocery prices: A new Biden administration report is raising questions about the cause of rising food prices ...
thehill.com/business/4564255-ftc-calls-out-profits-as-a-driver-of-grocery-prices/
How much money do you need to retire? Most Americans calculate $1.8 million, survey says.
usatoday.com/story/money/personalfinance/2023/08/02/how-much-money-americans-need-for-retirement/70507274007/
The stock market has skyrocketed to start 2024. Will it continue?: The S&P 500 has climbed 10% this year.
abcnews.go.com/Business/stock-market-skyrocketed-start-2024-continue/story
The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750
Biden heading to his Pennsylvania hometown to talk taxes: Despite the healthy job market, a near-record-high stock market and a decline in inflation ...
pennlive.com/politics/2024/04/biden-heading-to-his-pennsylvania-hometown-to-talk-taxes.html
Inflation is still bad. It's both Trump and Biden's fault. Who will fix it?: Inflation is still high. Trump's stimulus created it. Now Biden won't admit his plan ...
usatoday.com/story/opinion/columnist/2024/04/10/inflation-biden-economy-americans-spending-income-wages/73275197007/
Trump campaign blasts Biden for ‘largest tax hike ever' as Americans face 'record-high inflation'
foxbusiness.com/politics/trump-campaign-blasts-biden-largest-tax-hike-americans-face-record-high-inflation
How immigrants are helping boost the U.S. job market without affecting inflation: Blockbuster jobs growth continues to power the U.S. economy, with the BLS ...
nbcnews.com/business/economy/immigrants-are-helping-us-job-market-grow-without-affecting-inflation-rcna146570
How migrant workers have contributed to strong U.S. job growth: It turns out that the influx of foreign-born adults vastly raised the supply of available workers ...
pbs.org/newshour/economy/how-migrant-workers-have-contributed-to-strong-u-s-job-growth
Why Democrats are losing Asian Americans: Asian American voters in 2024 are increasingly engaged in politics given recent inflation, crime and education ...
thehill.com/opinion/4581602-why-democrats-are-losing-asian-americans/
What the cost of insulin may mean for Biden's campaign: President Joe Biden frequently cites insulin prices as he promotes a $35 price cap for Americans with ...
apnews.com/article/biden-insulin-prices-cap-campaign-impact-f969191c3c5178c91cc973a1b89c2200
More Americans worried about climate change, but few think Biden's climate law will help, AP-NORC poll says
pbs.org/newshour/politics/more-americans-worried-about-climate-change-but-few-think-bidens-climate-law-will-help-ap-norc-poll-says
Why is the economy so strong? New hires are spending more and upgrading their lifestyles
usatoday.com/story/money/2024/04/18/strong-job-growth-bolsters-spending/73351285007/
Interest rate 2024 outlook: More experts see no rate cuts as economy strong: Investors are finally waking up to the idea that the interest-rate cuts seen as a ...
businessinsider.com/interest-rate-2024-outlook-us-economy-fed-cuts-powell-jobs-2024-4
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