Tag Archives: Biden

Phoenix Mercury star Brittney Griner sent a handwritten letter to U.S. President Joe Biden on Monday asking for her release from Russia. Her agency released excerpts from the letter to the public: “… as I sit here in a Russian prison, alone with my thoughts and without the protection of my wife, family, friends, Olympic jersey, or any accomplishments, I’m terrified I might be here forever,” Griner wrote. “On the 4th of July, our family normally honors the service of those who fought… Source link

The Biden administration may trim mortgage costs for new and low-income homebuyers in a move to make homebuying more accessible, The Wall Street Journal reports. Industry officials are asking the Federal Housing Administration to cut premiums it charges for loans they insure by $50 to $70 a month per buyer, though some analysts say the federal agency is unlikely to make such deep cuts, the newspaper reports. Biden’s moves to make homebuying more affordable have so far centered on easing… Source link

You might have heard: Joe Biden is shaping up as the next Jimmy Carter. As a Democratic president in the 1970s, Carter had to deal with surging inflation, as Biden does now. Carter also faced an energy crisis, triggered abroad, much as Biden is now trying to tackle soaring gasoline prices caused by Russia’s invasion of Ukraine. Carter famously claimed the nation faced a “crisis in confidence,” which is arguably the case under Biden, too, given that consumer confidence, by some measures,… Source link

President Joe Biden.MANDEL NGAN/AFP via Getty Images There’s a 72% chance the Federal Reserve could cause a recession by 2024, Bloomberg Economics says. In February, the same models forecasted nearly zero chance of a downturn by that time. The latest forecast came after the central bank made its largest interest rate hike since 1994 to combat inflation. The odds that the US economy will fall into a recession by early 2024 have soared to nearly three-in-four in just a few months as the Federal… Source link

Remember the outrage when a handful of U.S. oil refineries closed in 2020? If you don’t, that’s because there wasn’t any outrage. Oil and gasoline prices were blissfully low and the COVID-19 pandemic dominated the news. Hardly anybody noticed. Energy investors certainly did, however, because 2020 was one of the worst years in history for energy producers. Exxon Mobil notched the first loss in its history, a gigantic $22 billion write-off. The five biggest U.S. oil refiners — Marathon… Source link

Tobacco companies will be forced to reduce nicotine in cigarettes sold in the U.S. to nonaddictive, or minimally addictive, levels, if the Biden administration has its way. The policy could be announced as early as this coming week, The Wall Street Journal reported Friday. But it likely won’t take effect for several years. The U.S. Food and Drug administration would have to draft a proposed rule and open it for public comment. After it published the rule, tobacco companies could sue, delaying… Source link

(Bloomberg) — US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats. Most Read from Bloomberg The consumer price index increased 8.6% from a year earlier in a broad-based advance, Labor Department data showed Friday. The widely followed inflation gauge rose 1% from… Source link

Liberal Democrats known as progressives have never commanded a political majority. Not even close, really. That’s why progressive candidates such as Bernie Sanders and Elizabeth Warren bombed in the 2020 Democratic presidential primaries, while the more centrist (at the time) Joe Biden won the Democratic nomination, then the presidency. The high point for progressives may have been the Green New Deal, which the newly elected Rep. Alexandria Ocasio-Cortez of New York spearheaded in 2019… Source link

Ilya Shapiro.Screenshot/C-Span Ilya Shapiro tweeted that Biden would pick a “lesser Black woman” as Supreme Court justice in January. Georgetown Law reinstated his role on June 2 after an investigation and monthslong suspension. But he resigned on Monday, saying Georgetown Law “doesn’t value free speech.” A Georgetown University Law Center professor who tweeted that President Joe Biden would pick a “lesser Black woman” for the Supreme Court resigned on Monday after four months in his job. Ilya… Source link

When President Biden signed the Bipartisan Infrastructure Law last November, it promised $45 billion to help upgrade America’s spotty broadband infrastructure. This week, administration officials offered more details on how that money will be made available through a new “Internet for All” program that aims to bring high-speed internet to every part of the U.S. “We are going to ensure every American will have access to technologies that allow them to attend class, start a small… Source link