Deese to be Biden’s top White House economic adviser

1st December 2020

Some progressive groups have warned against hiring Deese, 42, to a White House post, given his current job in the financial sector. “We are concerned, as our name suggests, with revolving door hires,” Jeff Hauser, who founded the Revolving Door Project to scrutinize executive branch appointees, told POLITICO last week. “And Brian Deese’s [relationship] to […]

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How climate change could spark the next home mortgage disaster

30th November 2020

“Anybody who believes in science knows that global warming is only going to cause increases in future risks for major storms,” said Stevens, the former Freddie Mac official, who also was president of the Mortgage Bankers Association trade organization. “I think the key is, what’s predictive here?” Making those decisions would put the mortgage giants […]

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What the Yellen choice means for Biden and the economy

26th November 2020

Covid cases are soaring, businesses are staring at a gloomy winter, millions of Americans are struggling and Congress … well, they’re on recess. POLITICO’s Sarah Ferris breaks down why there’s still no deal on another round of coronavirus relief. “It is remarkable to think of the depth and breadth of the respect she commands nationally […]

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Trump strips Biden’s options to boost the economy

25th November 2020

Covid cases are soaring, businesses are staring at a gloomy winter, millions of Americans are struggling and Congress … well, they’re on recess. POLITICO’s Sarah Ferris breaks down why there’s still no deal on another round of coronavirus relief. Mnuchin, for his part, defended the move as adhering to congressional intent that the programs stop […]

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U.S. consumer confidence tumbles as virus spreads

24th November 2020

Consumer confidence is closely watched for signals it can provide of how willing households are to spend. Consumer spending accounts for 70 percent of economic activity in the U.S. “We think the sharp rise in positive coronavirus cases nationwide, which has prompted new restrictions and shutdowns in many states, has led consumers to be more […]

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Biden’s big challenge: A growing racial wealth gap

18th November 2020

Black Lives Matter leaders turned out the vote and helped secure President-elect Joe Biden’s victory. Now they want a piece of the political action. POLITICO’s Maya King reports on why that might be tough — especially under a Republican-controlled Senate. “Had it not been for Black people it would have been difficult for [Biden] to […]

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The hangover awaiting Biden: Deep wounds from Covid-19

11th November 2020

The environment could force the Biden team to wait for the Federal Reserve to lead the way just as the central bank did in the past decade — an approach that could again make investors richer, but only slowly help the types of workers Biden wants to support most. The Biden win and vaccine news […]

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Wall Street notches second-best Election Day of trading

6th November 2020

President Donald Trump has repeatedly touted the performance of the stock market as a reflection of his job performance, with the market hitting all-time highs during his presidency. Even after the coronavirus ravaged the economy and caused a painful selloff in March, markets have recovered since then with the S&P 500 and Nasdaq Composite Index […]

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Fox survey finds 63 percent say country heading in wrong direction

5th November 2020

Residents wait in line to vote at a shuttered Sears store in the Janesville Mall on November 03, 2020 in Janesville, Wisconsin | Scott Olson/Getty Images Nearly two-thirds of voters surveyed in early exit polls said the country going in the wrong direction, with the staggering national economy weighing heavily in their decisions. A total […]

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China shapes a new U.S. economic era: The return of industrial policy

4th November 2020

Fears of China’s growing economic might, and America’s dependence on its rival for critical manufacturing and natural resources, are reviving an interest in industrial policy — the use of state power to encourage production on domestic soil, even if it would be cheaper and more efficient to buy products from abroad. Outside a few narrow […]

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