Tag Archives: Bidens

The Biden administration on Wednesday issued a long-awaited executive order to comprehensively study cryptocurrencies, effectively firing the starting pistol for Congress and other federal agencies to begin crafting oversight of digital tokens. The blueprint, arriving at a time when markets are being roiled by the conflict between Russia and Ukraine, which has spilled over into crypto, was mostly hailed by industry players who have been nervous about the government’s moves to create a… Source link

During his State of Union address Tuesday night, President Joe Biden touted his plans for the economy, as well as his plans to combat fraud and identity theft rife in pandemic relief programs like the Paycheck Protection Program (PPP). The COVID pandemic relief programs disbursed more than $800 billion over two years by the government to help small businesses stay afloat. The loans, which helped owners use that money to pay for payroll and other eligible expenses, also led to widespread… Source link

President Biden has an enviable problem: The economy under his watch is doing a lot better than voters give him credit for. In the latest update of the Yahoo Finance Bidenomics Report Card, Biden’s grade on the economy rose from B+ to A-. This isn’t our opinion. It’s what the numbers tell us. We developed this methodology at the beginning of the Trump administration, with the help of Moody’s Analytics, and we’ve kept it in place for Biden. We determine each president’s grade by… Source link

It’s a low point of Joe Biden’s presidency, with inflation, a COVID resurgence and Democratic flailing in Congress dragging his approval rating down to a measly 41%. Conventional wisdom holds that Biden’s weak standing will cost Democrats control of the House and maybe the Senate in the November midterm elections. It’s not all bad news, however. Full-year GDP growth for 2021 came in at 5.7%, following a drop of 3.4% in 2020. That allows Biden to say he reversed the damage from… Source link

The White House plans to restart negotiations on its $2 trillion spending bill, just days after pivoting to a long shot push for voting rights reform and two weeks after key moderate Sen. Joe Manchin (D-WV) abandoned talks on the spending measure, Reuters reported on Tuesday. In a new interview, U.S. Secretary of Commerce Gina Raimondo expressed certainty that the bill, known as Build Back Better, would succeed but acknowledged that the final version would “look different” from the expansive… Source link

President Biden’s threat to oil producers that he would force prices down has already backfired. Oil markets were unimpressed by the U.S. administration’s plan to coordinate a strategic petroleum reserve release from major importers in an effort to increase supply. While some observers believe an SPR release could push oil prices down, most analysts have warned that it will only have a temporary effect and could eventually trigger a price spike. OPEC+ members have not even engaged with… Source link

The White House has made a pivot in recent weeks to frame the president’s current economic agenda as one that won’t exacerbate inflation and might even help ease the ongoing price pressures. Experts tend to back them up, noting that the just-signed infrastructure bill and the still-being-negotiated Build Back Better Act, Biden’s social policy legislation, are largely paid for and would not be expected to infuse a huge amount of money into the economy quickly. But that isn’t exactly true… Source link

President Biden has selected Robert Califf as his pick for the next head of the Food and Drug Administration, the White House announced today. Califf is currently a senior advisor for Verily Life Sciences and Google Health, two divisions of parent company Alphabet. He was brought on in 2019 to lead health strategy and policy for the groups. Califf, a cardiologist, previously served as the FDA commissioner during the last year of the Obama administration. He also founded the Duke Clinical… Source link

A key Democratic selling point of the new Build Back Better framework announced Thursday is that it’s fiscally responsible. “It’s fully paid for,” President Biden declared in a press briefing about the plan. “Over the next 10 years, it will not add to the deficit at all.” The White House summary of the bill goes even further and suggests the bill will actually reduce the deficit. On the spending side of the ledger, the president is pushing for $1.75 trillion in new spending offset… Source link

On paper, the Biden administration is keeping in place the tariffs on imports and other protectionist measures Donald Trump imposed on China during his one-term presidency. But Biden is also hinting at deescalating Trump’s trade war and opening the door to better relations with the world’s second-largest economy—if China does its part. The Biden administration has announced a “new approach” toward China that has much in common with the old approach under Trump. Biden will keep in… Source link