What to know about proposed Biden tax on the wealthy to fund Medicare
President Joe Biden delivers remarks on his plan to protect Americans access to affordable health care in Virginia Beach, Virginia, on Feb. 28, 2023.Saul Loeb | AFP | Getty ImagesPresident Joe Biden this week called for higher taxes on wealthy Americans to boost Medicare as part of his 2024 budget, aiming to help fund the […]
Live: Fed Chair Powell Testifies Before the House Committee on Monetary Policy – 11:00AM, ET 3/8/23
Federal Reserve Chairman Jerome Powell speaks Wednesday morning to the House Financial Services Committee on the semiannual monetary policy report. Source link
Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on February 01, 2023 in Washington, DC. Kevin Dietsch | Getty ImagesFederal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected.Citing data earlier this year showing […]
Live: Fed Chair Jerome Powell Testifies Before Senate Banking Committee 11:00AM ET – 3/7/23
Senate Banking Committee questions Federal Reserve Chairman Jerome Powell about the economy, interest rates, and inflation. Source link
China’s new foreign minister on U.S. relations, Taiwan, spy balloon
BEIJING – China’s new foreign minister, Qin Gang, said relations with the U.S. have left a “rational path” and warned of conflict if Washington doesn’t “hit the brake.”Qin, who was until recently China’s ambassador to the U.S., said China would “pursue a sound and stable relationship with the U.S.”However, he said the Biden administration’s call […]
How China’s shifting growth picture could hit global markets
A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China’s National People’s Congress on Sunday, March 5, 2023.Future Publishing | Future Publishing | Getty ImagesChina’s economy will be forced to recalibrate because of a “fractured” global order, and the new drivers of growth will “disappoint” global markets, according to David Roche, president […]
Powell to speak in Congress – markets are mixed on expectations
U.S. Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill on March 3, 2022.Pool | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to […]
Stock market today: Live updates
The Dow rose slightly Monday, as Wall Street fought to hold onto last week’s gains and investors braced for a busy week of economic news.The Dow Jones Industrial Average gained 40.47 points, or 0.12%, to settle at 33,431.44. The S&P 500 added 0.07% to end at 4,048.42, while the Nasdaq Composite dipped 0.11% to close […]
David Einhorn says investors should be ‘bearish on stocks and bullish on inflation’
Greenlight Capital’s David Einhorn said Wednesday he’s keeping his negative stance on the stock market as inflation and interest rates could shoot higher.”I think we should be bearish on stocks and bullish on inflation,” Einhorn said on CNBC’s “Halftime Report.” “I think we’re in a policy now, which is probably pretty good for Main Street, […]
Amid stubborn inflation, 60% of Americans live paycheck to paycheck
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room.As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down from 64% a year earlier, suggesting […]