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10 Things in Politics: Trump's a blogger now

Good morning! Welcome back to 10 Things in Politics, your weekday look at the biggest stories in DC and beyond. Sign up here to receive this newsletter.Send tips to [email protected] or tweet me at @BrentGriffiths.Here's what we're talking about:Trump went back to the past to find his online futureThe top House Republican tore into Rep. Liz Cheney when he thought he was off the airThe Justice Department must turn over a secret memo Barr used to clear TrumpOne thing to look out for t...
Tags: Facebook, Utah, New York, Obama, Congress, Washington Post, Washington, White House, Russia, Israel, US, Newsletter, Trends, Joe Biden, Ap, Getty Images


Treasury Secretary Janet Yellen says a 'shocking' $7 trillion in taxes is going uncollected

Treasury Secretary Janet Yellen. Manuel Balce Ceneta/AP Yellen told The Atlantic that the tax gap was a "shocking" $7 trillion over a decade. Her remarks reflect the White House's resolve to collect taxes from high earners and big firms. The Treasury has said the tax gap could worsen if no additional action is taken. Sign up for our daily newsletter 10 Things in Politics You Need to Know Today. Treasury Secretary Janet Yellen said a "shocking" amount of taxes was going uncollected by t...
Tags: Congress, White House, Trends, Joe Biden, Atlantic, New York Times, Treasury, Janet Yellen, Federal Reserve, Biden, Wall Street Journal, Irs, Yellen, Fed, Treasury Department, Charles Rettig


Treasury Secretary Janet Yellen says a 'shocking' $7 trillion in taxes are going uncollected

Treasury Secretary Janet Yellen. Manuel Balce Ceneta/AP Yellen told The Atlantic that the tax gap is a "shocking" $7 trillion over a decade. Her remarks reflect the White House's resolve to collect taxes from high earners and big firms to cover their spending. Treasury has said the tax gap could worsen if no additional action is taken. See more stories on Insider's business page. Treasury Secretary Janet Yellen said a "shocking" amount of taxes are going uncollected by the federal ...
Tags: Congress, White House, Trends, Joe Biden, Atlantic, Treasury, Janet Yellen, Federal Reserve, Biden, Irs, Yellen, Fed, Charles Rettig, Treasury the IRS, Treasury Department Treasury, Ayelet Sheffey


Treasury Secretary Janet Yellen says higher interest rates may be needed so economy doesn't 'overheat'

Treasury Secretary Janet Yellen. Jacquelyn Martin/AP It might be necessary to lift interest rates to keep the economy from overheating, Janet Yellen said. The Treasury Secretary's comments contrast with the Fed's plans to hold rates near zero through 2023. Some experts fear Biden's latest spending plans risk dangerously strong inflation. See more stories on Insider's business page. Treasury Secretary Janet Yellen is among the country's most experienced economic policy e...
Tags: Obama, White House, US, Trends, Joe Biden, Atlantic, Treasury, Janet Yellen, Federal Reserve, Biden, Clinton, Yellen, Fed, Larry Summers, Council of Economic Advisors, Jen Psaki


Mohamed El-Erian says inflation is here to stay and won't be 'transitory' like the Fed claims

Federal Reserve Chair Jerome Powell. Pool/Getty Images Mohamed El-Erian says inflation is not "transitory" like Jerome Powell has claimed. He cited the multitude of examples, from rising lumber prices to Warren Buffett's "very substantial" inflationary pressure comments in Berkshire's annual meeting. The president of Queen's College Cambridge said the Fed needs to start "tapping the breaks" on its dovish policy and asset purchases. Sign up here for our daily newsletter, 10 Thin...
Tags: US, Barack Obama, Trends, Pimco, Warren Buffett, Berkshire, Financial Times, Cnbc, Fed, The Fed, Bank of Canada, Powell, Allianz, Mohamed El Erian, Global Development Council, El Erian


The Biden administration reportedly spent months preparing for an inflation spike that hasn't come yet - and it's still worried

President Joe Biden meets with Treasury Secretary Janet Yellen in the Oval Office at the White House in Washington, U.S., January 29, 2021. Kevin Lamarque/Reuters White House and Treasury officials spent months testing inflation scenarios, the NYT reports. No scenario showed inflation rising so quickly that the Fed would lose control of price growth. The findings open the door for Biden to spend trillions more on infrastructure and social care. See more stories on Insider's business pa...
Tags: Obama, Washington, White House, US, Trends, Joe Biden, New York Times, Treasury, Nyt, Janet Yellen, Federal Reserve, Biden, Times, Clinton, Yellen, Fed


US futures remain steady, hemmed in by US inflation data and vaccine worries

While Wall Street may be emptier this year, it's still important for many companies - or at least some divisions within them - to be close to stock exchanges. Tayfun Cokun/Anadolu Agency via Getty Images US stock futures were steady after a benign March US consumer inflation print. The pausing of the Johnson & Johnson vaccine only had a minor impact on markets. The slow vaccine rollout in Japan is raising concern about economic recovery, weighing on the Nikkei. Sign up here for our da...
Tags: Hong Kong, Japan, London, White House, China, US, Trends, Opec, Astrazeneca, Goldman Sachs, Federal Reserve, Biden, Dow Jones, Fed, Shanghai Composite, Cmc Markets


The US deficit soared to a record $1.7 trillion as the government doled out new stimulus

The Capitol is seen from the Lincoln Memorial reflecting pool on April 13, 2021 in Washington, DC. Stefani Reynolds/Getty Images The US budget deficit widened to a record $1.7 trillion in the first half of the fiscal year. The government spent $927 billion in March, with much of the funding linked to Democrats' stimulus. White House and Fed officials have said low interest rates ensure the debt doesn't present an immediate danger. See more stories on Insider's business page. Th...
Tags: Washington, White House, US, Trends, Joe Biden, Treasury, Janet Yellen, Biden, Donald Trump, Yellen, Fed, Lincoln Memorial, Capitol, Treasury Department, Federal Reserve Chair, Jerome Powell


Fed Chair Jerome Powell says the greatest risk to the US economic rebound is another wave of the coronavirus

U.S. Federal Reserve Chairman Jerome Powell  speaks in Washington Reuters The US economy is about to start growing "much more quickly," Federal Reserve Chairman Jerome Powell told CBS. The biggest risk to the economic recovery is another surge in coronavirus cases, Powell said. He credited steady vaccinations, stimulus, and strong monetary policy for the rebounding economy. See more stories on Insider's business page. Federal Reserve Chairman Jerome Powell says the US economy is about ...
Tags: Politics, UK, Jobs, Labor, US, Trends, Economy, South Africa, Cbs, Pfizer, Federal Reserve, Centers For Disease Control And Prevention, Fed, Powell, U S Federal Reserve, Victoria Cavaliere


Millions of Americans will struggle to get back into the workforce and they'll need support, Fed's Powell says

Federal Reserve Board Chairman Jerome Powell. Yuri Gripas/Reuters The "different economy" post-pandemic will impede the job hunt for millions of Americans, Fed Chair Powell said. The Fed will continue to provide support to prevent scarring and persistent unemployment, he added. The government should invest in policies that make for a more inclusive economy, Powell said. See more stories on Insider's business page. A full rebound from the coronavirus recession won't be as simple as ...
Tags: White House, US, Trends, Joe Biden, International Monetary Fund, Imf, Fed, Reuters, Powell, Kristalina Georgieva, Georgieva, Federal Reserve Board, Jerome Powell, Fed Chair Powell, Ben Winck, Jerome Powell Yuri Gripas


Biden breaks with Trump and says he'll stick up for Federal Reserve's independence

Salwan Georges/The Washington Post via Getty Images, Tasos Katopodis/Getty Images Biden said he wanted to break with Trump in sticking up for the Federal Reserve's independence. "I want to be real clear that I'm not going to do the kinds of things that have been done in the last administration," Biden said. While he was in office, Trump pressured Fed Chair Powell against raising interest rates. See more stories on Insider's business page. President Joe Biden said on Tuesday h...
Tags: Congress, Washington Post, White House, China, US, Trends, Joe Biden, United States, Treasury, Janet Yellen, Npr, Federal Reserve, Biden, Donald Trump, Trump, Fed


Biden's infrastructure plan should supercharge growth over the long term, Dallas Fed president says

Dallas Federal Reserve Bank President Robert Kaplan. Ann Saphir/Reuters Biden's infrastructure plan can fuel a permanent boost to growth, the Dallas Fed's president said. Where stimulus will fuel a sudden rise, infrastructure is a "long-term investment," Robert Kaplan said. Inflation will still likely trend within the Fed's comfort zone amid the new spending, he added. See more stories on Insider's business page. President Joe Biden's infrastructure proposal can permane...
Tags: White House, US, Trends, Joe Biden, Biden, Fed, Kaplan, Dallas Fed, Bloomberg TV, Robert Kaplan, Federal Reserve Bank of Dallas, Federal Open Market Committee, Dallas Federal Reserve Bank, Ben Winck, Robert Kaplan Ann Saphir Reuters Biden, American Families Plan


Economists are divided about how bad inflation is going to get. Here are the 14 loudest voices on both sides of the issue.

Former Treasury Secretary Larry Summers. Robin Marchant / Getty Images The debate over inflation is intensifying as Biden pushes to spend trillions on infrastructure. It's largely an intra-party spat as moderates say stimulus risks rampant inflation, while many Democrats favor big spending. Here are the 14 biggest names arguing for and against spending plans and the path of inflation. See more stories on Insider's business page. A new debate is emerging as the US economy nears reop...
Tags: Asia, Obama, Congress, Washington Post, Senate, White House, US, Trends, Bloomberg, Joe Biden, Ap, Harvard, New York Times, Bill Clinton, Ubs, Treasury


Obama staffers amazed at how 'different' Biden's approach to stimulus is

Former President Barack Obama and President Joe Biden at an event in Biden's home town of Scranton, Pennsylvania, in 2013. REUTERS/Jason Reed The size of Biden's stimulus plans has surprised some who worked in the Obama administration. Obama faced debt fears from both Democrats and Republicans when passing aid during the Great Recession. Biden has already passed a massive stimulus package and he's preparing an even bigger infrastructure bill. See more stories on Insider's b...
Tags: Labor, Obama, Congress, Senate, White House, US, Barack Obama, Trends, Joe Biden, Cnn, Pennsylvania, Harvard University, House, Janet Yellen, Federal Reserve, Biden


Larry Summers is just getting more 'worried' about inflation

Former Treasury secretary Larry Summers. AP Photo/Michel Euler Economist Larry Summers repeated his inflation fears, saying risks resemble those seen in the 1970s. The idea that inflation can't suddenly spike to worrying highs "is just plain wrong," he told Bloomberg TV. Lifting taxes on wealthy Americans and corporations could dull spending risks, Summers added. See more stories on Insider's business page. Former Treasury Secretary Larry Summers reiterated his concerns about rampa...
Tags: White House, Trends, Joe Biden, United States, Treasury, Federal Reserve, Biden, Trump, Fed, Summers, Michel Euler, Larry Summers, Jerome Powell, Former Treasury, COVID, Ben Winck


Biden is splitting with Obama on the economy and the proof is in their stimulus plans

Former President Barack Obama and Democratic presidential nominee Joe Biden greet each other with a socially distant "air" elbow bump at the end of a drive-in campaign rally at Northwestern High School on October 31, 2020 in Flint, Michigan Drew Angerer/Getty Images Biden's first economic package was bold in its size, breadth, and lack of bipartisanship. It's a sharp contrast to the smaller package of the Obama era - and that era's slower recovery. It shows Biden doesn't wa...
Tags: New York, Labor, Obama, Congress, Senate, White House, US, Barack Obama, Trends, Joe Biden, Cnn, Harvard University, House, New York Times, Ubs, Npr


US economic growth will hit 7% this year on major stimulus boost, BofA says in latest upgrade

People shopping at the Union Square Greenmarket as New York City continues reopening efforts on December 4, 2020. Noam Galai/Getty Images BofA lifted its 2021 US GDP forecast to 7% from 6.5%, the latest in several upgrades by the bank. The firm sees strong spending already and unemployment falling to 4.5% later this year. The White House's plan for up to $3 trillion in new spending can further lift growth, the bank said. See more stories on Insider's business page. The American reo...
Tags: White House, New York City, US, Trends, Bank Of America, Goldman Sachs, Federal Reserve, Morgan Stanley, Fed, BofA, Michelle Meyer, Union Square Greenmarket, Morgan Stanley UBS, Ben Winck, Noam Galai Getty Images BofA, Just ask Bank of America


7 ways America's economy could change forever under Biden, from a top economics professor

President Joe Biden. Patrick Semansky/AP President Biden's spending plans are shaking up how people think about economic policy. Debt fears are out, full employment and direct benefits are in, and inflation is the new big risk. Here are 7 major shifts in thinking on government aid, according to a top economics professor. See more stories on Insider's business page. Though he was labeled as more moderate than some of his opponents in the Democratic primary, President Joe Biden frequ...
Tags: Obama, White House, US, America, Barack Obama, Trends, Joe Biden, Ap, Federal Reserve, Biden, Fed, The Fed, Powell, Congressional, Roosevelt Institute, Mason


Economists are divided about how bad inflation is going to get. Here are the 10 loudest voices on both sides of the issue.

Former Treasury Secretary Larry Summers. Robin Marchant / Getty Images The debate over inflation is intensifying as Biden pushes to spend trillions on infrastructure. It's largely an intra-party spat as moderates say stimulus risks rampant inflation, while many Democrats favor big spending. Here are the 10 biggest names arguing for and against spending plans and the path of inflation. See more stories on Insider's business page. A new debate is emerging as the US economy nears re...
Tags: Asia, Obama, Congress, Washington Post, Senate, White House, US, Trends, Bloomberg, Joe Biden, Ap, Harvard, New York Times, Bill Clinton, Ubs, Treasury


Larry Summers, who called out inflation fears with Biden's $1.9 trillion COVID-19 relief package, says the US is seeing 'least responsible' macroeconomic policy in 40 years

Former US Treasury secretary Larry Summers. AP Photo/Michel Euler Larry Summers said that the US is seeing the "least responsible" macroeconomic policy in decades. The former Treasury secretary been critical of Biden's $1.9 trillion COVID-19 relief package. Summers said there's "a one-third chance" of significant inflation over the next few years. See more stories on Insider's business page. Former US Treasury Secretary Larry Summers said that the country is seeing the "least ...
Tags: Politics, Obama, Washington Post, Senate, US, Barack Obama, Trends, Bloomberg, Joe Biden, Economy, Cnn, Gop, House, Economic policy, Bill Clinton, Treasury


Younger investors reply 'OK boomer' to older generations' inflation fearmongering

A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City. Spencer Platt/Getty Images Older investors and younger investors have vastly different inflation expectations amid new stimulus. Those who lived through the "Great Inflation" fear price growth will run rampant, Deutsche Bank said. A material rise in inflation likely depends on younger Americans bracing for higher prices. See more stories on Insider's business page. Older in...
Tags: Obama, Washington Post, New York City, US, Barack Obama, Trends, Joe Biden, Bill Clinton, Treasury, Deutsche Bank, Janet Yellen, Federal Reserve, Biden, Donald Trump, The Washington Post, Imf


The $5 trillion in pandemic-era stimulus is more than triple Great Recession-era aid - and suggests a permanent shift in the way Congress spends

Samuel Corum/Getty Images Passage of President Biden's stimulus plan brings the total pandemic-relief bill to $5 trillion. The relief packages handily surpass past measures and mark a turning point for how Congress spends. Americans largely back the new approach, with 66% supporting Biden's measure in a recent poll. Visit the Business section of Insider for more stories. The amount of fiscal stimulus used to keep the US economy afloat over the past year blows past packages out of ...
Tags: Obama, Congress, Washington, US, Barack Obama, Trends, Markets, Joe Biden, Economy, Economic recovery, Ubs, Inflation, Economic Growth, Biden, Donald Trump, Morgan Stanley


A video from CPAC captures Roger Stone showing off his dance moves to a Trump rap hailing Capitol insurrectionists as 'patriots'

Roger Stone dances with rapper Forgiato Blow as he arrives for the Conservative Political Action Conference held in the Hyatt Regency on February 27, 2021 in Orlando, Florida. Joe Raedle/Getty Images A video shows Roger Stone dancing along to a hip-hop song at CPAC in Florida on Saturday. Wearing his trademark sunglasses, Stone dances to a song calling the Capitol rioters "patriots." He is playing backup dancer to local Florida rapper and Trump supporter, Forgiato Blow. Visit the Business ...
Tags: Florida, White House, Trends, Cnn, Fbi, Washington Dc, Fox News, Donald Trump, The Washington Post, Justice Department, Trump, Fed, Alex Jones, Capitol, Flynn, Roger Stone


10 Things in Politics: Who's blaming who over Capitol riot

Former US Capitol Police Chief Steven Sund testifies at a Senate hearing on February 23, 2021. AP Photo/Andrew Harnik, Pool Good morning! Welcome back to 10 Things in Politics. I'm Brent Griffiths. Sign up here to get this newsletter in your inbox each day.Send your tips and thoughts to [email protected] or tweet me @BrentGriffiths.Here's what you need to know:The FBI warned of violence before the Capitol riot, but the top officials responsible for the Capitol's security didn't see ...
Tags: Utah, Politics, New York, Texas, Minnesota, Nbc, Dwayne Johnson, Senate, White House, US, Los Angeles, Trends, Fbi, Pennsylvania, Gop, House


Will the Biden spending package result in runaway inflation? No!

President Joe Biden speaks after signing an executive order related to American manufacturing in the South Court Auditorium of the White House complex on January 25, 2021 in Washington, DC. Drew Angerer/Getty Images Economists like Larry Summers are worried the Biden fiscal stimulus plans will result in runaway inflation. Both the COVID relief package and the infrastructure stimulus will not result in high inflation. There's no reason to fear overheating of the economy. Dan Alpert is an ad...
Tags: New York, White House, US, America, Trends, Joe Biden, Washington Dc, Michigan, Michelin, Biden, Fed, Blanchard, Congressional Budget Office CBO, CBO, Larry Summers, South Court Auditorium


Wall Street is beginning to say stimulus probably won't spark dangerous inflation

Samuel Corum/Getty Images Republicans argue Biden's stimulus plan will fuel runaway inflation. Wall Street isn't so concerned. Economists at major banks see new aid only modestly lifting inflation while aiding the US recovery. Here's how UBS, BofA, Goldman Sachs, and Deutsche Bank see stimulus affecting inflation in 2021 and beyond. Visit the Business section of Insider for more stories. The debate around passing President Joe Biden's $1.9 trillion aid proposal is a simple one.Democrats a...
Tags: Wall Street, White House, US, Trends, Bank Of America, Joe Biden, Ubs, Deutsche Bank, Goldman Sachs, Federal Reserve, Biden, Goldman, Core, Ruskin, Trump, Fed


High-profile economists want to shut down Biden's stimulus over fears it could cause a damaging inflation spike. But recent history suggests otherwise.

Economist Lawrence Summers has warned that Biden's stimulus package could spark inflation. NICHOLAS KAMM/Getty Images Some high-profile economists fear Biden's $1.9 stimulus package will lead to inflation. But the Fed sees little inflation risk, and Wall Street increasingly agrees; the US hasn't had high inflation in nearly 40 years. Since then, central bankers have come to think the US has developed better tools to handle inflation. Visit Business Insider's homepage for more stories. ...
Tags: New York, Congress, Washington Post, US, America, Barack Obama, Trends, Joe Biden, Cnn, Harvard University, Bill Clinton, Ubs, Treasury, Zimbabwe, Janet Yellen, Goldman Sachs


Democrats are planning at least another $2 trillion in stimulus spending, shrugging off fears of growing debt

President Joe Biden meets with lawmakers in the Oval Office. Pete Marovich/Pool/Getty Images Democrats are planning at least another $2 trillion in stimulus spending, much of it on infrastructure. Senior Democrats support new taxes on wealthy Americans and large businesses to finance part of a follow-up package. Senate Republicans are likely to press for more targeted spending, and spark a clash in Congress. Visit the Business section of Insider for more stories. Democrats are on course to...
Tags: Texas, Congress, Oregon, Senate, White House, America, Barack Obama, Trends, Joe Biden, Cnn, Treasury, Janet Yellen, Capitol Hill, Oklahoma, Federal Reserve, Biden


Democrats are planning at least another $2 trillion in stimulus spending, shrugging off growing debt

President Joe Biden meets with lawmakers in the Oval Office. Pete Marovich/Pool/Getty Images Democrats are planning at least another $2 trillion in stimulus spending, much of it on infrastructure. Senior Democrats support new taxes on wealthy Americans and large businesses to finance part of a follow-up package. Senate Republicans are likely to press for more targeted spending, and spark a clash in Congress. Visit the Business section of Insider for more stories. Democrats are on course to...
Tags: Texas, Congress, Oregon, Senate, White House, America, Barack Obama, Trends, Joe Biden, Cnn, Treasury, Janet Yellen, Capitol Hill, Oklahoma, Federal Reserve, Biden


Biden's 'go big' stimulus has kicked off a huge debate about just how big a hole the pandemic punched in the economy

President Joe Biden speaks as he meets with Senators from both parties on the critical need to invest in modern and sustainable American infrastructure in the Oval Office of the White House on February 11, 2021, in Washington, DC. Doug Mills-Pool/Getty Images Biden aims to "go big" on stimulus to fill a hole in the economy, but experts disagree on the size of the hole. Overfilling the hole risks massive inflation, while underfilling it leaves a weak economy. Biden, Wall Street, and the Fed...
Tags: New York, Obama, Washington Post, Washington, White House, US, Barack Obama, Trends, Joe Biden, Ap, Cnn, Bureau of Labor Statistics, Ubs, Treasury, Deutsche Bank, International Monetary Fund



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