Wealthy former Hillary Clinton donor Stephen Rosenberg is using secret shell company to back Trump

Since then, Rosenberg has created a shell company that so far is dedicated to only supporting Trump for his 2020 reelection campaign. Rosenberg’s company, SR 2018 LLC, is listed as a six-figure donor to the Trump Victory committee, a joint fundraising operation that divvies up funds between the campaign and the Republican National Committee. After an extensive search in New York’s corporate database, no names matching SR 2018 were found. Rosenberg and a spokeswoman for the Trump campaign did not


Since then, Rosenberg has created a shell company that so far is dedicated to only supporting Trump for his 2020 reelection campaign. Rosenberg’s company, SR 2018 LLC, is listed as a six-figure donor to the Trump Victory committee, a joint fundraising operation that divvies up funds between the campaign and the Republican National Committee. After an extensive search in New York’s corporate database, no names matching SR 2018 were found. Rosenberg and a spokeswoman for the Trump campaign did not
Wealthy former Hillary Clinton donor Stephen Rosenberg is using secret shell company to back Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: brian schwartz
Keywords: news, cnbc, companies, victory, shell, wealthy, secret, stephen, committee, campaign, 2018, donor, rosenbergs, hillary, trump, using, supporting, sr, rosenberg, company


Wealthy former Hillary Clinton donor Stephen Rosenberg is using secret shell company to back Trump

Real estate investor Stephen Rosenberg once had an open checkbook for Democrats running for higher office, including Hillary Clinton.

That changed after Donald Trump was elected president. Since then, Rosenberg has created a shell company that so far is dedicated to only supporting Trump for his 2020 reelection campaign.

Rosenberg’s company, SR 2018 LLC, is listed as a six-figure donor to the Trump Victory committee, a joint fundraising operation that divvies up funds between the campaign and the Republican National Committee. The company’s name consists of Rosenberg’s initials, while the mailing address of the LLC is identical to that of his real estate investment firm, Greystone, which is located in the Carnegie Hall Tower in New York.

After an extensive search in New York’s corporate database, no names matching SR 2018 were found. However, Delaware’s Division of Corporations did list a company with the same name as Rosenberg’s. The filing shows the company has an annual tax assessment of $300.

Rosenberg and a spokeswoman for the Trump campaign did not return requests for comment.

Wealthy donors sometimes use shell companies as a way to anonymously finance campaigns. The Center for Responsive Politics, which tracks the owners of these types of companies and who they’re supporting, describes a limited liability company associated with GOP billionaire Bruce Kovner that recently gave $35,500 to the National Republican Congressional Committee. Like Rosenberg’s firm, Kovner’s uses his initials as the company name.

Delaware is one of the preferred states to create a shell company due to corporate-friendly laws and a judicial system that is known to efficiently resolve business litigation.

The $360,600 donation to Trump Victory came in May and, on another filing with Rosenberg’s name as the contributor, a memo cites SR 2018, describing the company’s contribution as “permissible funds.” The shell company has also given directly to Trump’s campaign with two separate max checks of $2,800, with one going toward the primary stage of the election cycle and the other for the later general election.


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: brian schwartz
Keywords: news, cnbc, companies, victory, shell, wealthy, secret, stephen, committee, campaign, 2018, donor, rosenbergs, hillary, trump, using, supporting, sr, rosenberg, company


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Republican megadonors Sheldon Adelson and wife give a whopping $213,000 to Senate GOP fundraising committee

The GOP will defend 22 Senate seats next year. Republican strategists, however, tried to brush off the donation as only a sign of the Adelsons being consistent, big-dollar supporters. “Very consistent supporters,” Josh Holmes, a former chief of staff to Senate Majority Leader Mitch McConnell, told CNBC. The Adelsons had been relatively quiet so far in the current election cycle. The two combined to give over $120 million to Republican causes throughout the 2018 congressional midterm cycle.


The GOP will defend 22 Senate seats next year. Republican strategists, however, tried to brush off the donation as only a sign of the Adelsons being consistent, big-dollar supporters. “Very consistent supporters,” Josh Holmes, a former chief of staff to Senate Majority Leader Mitch McConnell, told CNBC. The Adelsons had been relatively quiet so far in the current election cycle. The two combined to give over $120 million to Republican causes throughout the 2018 congressional midterm cycle.
Republican megadonors Sheldon Adelson and wife give a whopping $213,000 to Senate GOP fundraising committee Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: brian schwartz
Keywords: news, cnbc, companies, whopping, cycle, fundraising, committee, seats, sheldon, party, election, adelson, donation, republican, senate, majority, gop, megadonors, million, wife


Republican megadonors Sheldon Adelson and wife give a whopping $213,000 to Senate GOP fundraising committee

Republican megadonor and Las Vegas Sands CEO Sheldon Adelson and his wife, Miriam, gave the Senate’s GOP fundraising arm over $200,000 last month as the party works to protect its majority in the chamber during next year’s elections.

Their massive donations came in July, with each writing checks worth $106,500 to the National Republican Senatorial Committee, according to a new Federal Election Commission disclosure filed Tuesday.

The early contribution may reflect that the GOP donor class are concerned about the upcoming 2020 elections, with political analysts already labeling at least three seats as toss-ups. The GOP will defend 22 Senate seats next year. The party has a 53-47 edge in the Senate.

The NRSC finished July raising $4.3 million and has $11.7 million on hand.

Republican strategists, however, tried to brush off the donation as only a sign of the Adelsons being consistent, big-dollar supporters.

“Very consistent supporters,” Josh Holmes, a former chief of staff to Senate Majority Leader Mitch McConnell, told CNBC. “I think it reflects their continued support of Senate Republicans. Not sure I can make any more of it than that.”

The Adelsons had been relatively quiet so far in the current election cycle. They’ve given directly to a variety of candidates, but this six figure donation would mark their highest contribution so far.

The two combined to give over $120 million to Republican causes throughout the 2018 congressional midterm cycle.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: brian schwartz
Keywords: news, cnbc, companies, whopping, cycle, fundraising, committee, seats, sheldon, party, election, adelson, donation, republican, senate, majority, gop, megadonors, million, wife


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Trump’s money ties to NFL owners go much deeper than Dolphins’ Stephen Ross

President Donald Trump never hesitates to bring up his connections with NFL team owners. I know so many of the owners,” Trump told reporters Friday as he answered a question about whether teams would sign activist and free agent quarterback Colin Kaepernick, according to the Washington Post. Trump’s financial ties to NFL owners stretch well beyond Ross. At least nine owners or the companies they control donated to Trump’s inaugural committee. While his company donated $1 million to Trump’s inaug


President Donald Trump never hesitates to bring up his connections with NFL team owners. I know so many of the owners,” Trump told reporters Friday as he answered a question about whether teams would sign activist and free agent quarterback Colin Kaepernick, according to the Washington Post. Trump’s financial ties to NFL owners stretch well beyond Ross. At least nine owners or the companies they control donated to Trump’s inaugural committee. While his company donated $1 million to Trump’s inaug
Trump’s money ties to NFL owners go much deeper than Dolphins’ Stephen Ross Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: jacob pramuk brian schwartz, jacob pramuk, brian schwartz
Keywords: news, cnbc, companies, trumps, victory, ties, million, trump, inaugural, owners, nfl, owner, committee, ross, kraft, money, stephen, dolphins, deeper


Trump's money ties to NFL owners go much deeper than Dolphins' Stephen Ross

Owner of the Miami Dolphins Stephen Ross (L) and Donald Trump attend the 25th Great Sports Legends Dinner to benefit The Buoniconti Fund to Cure Paralysis at The Waldorf.

President Donald Trump never hesitates to bring up his connections with NFL team owners.

“I know the owners. I know [New England Patriots owner] Bob Kraft. I know so many of the owners,” Trump told reporters Friday as he answered a question about whether teams would sign activist and free agent quarterback Colin Kaepernick, according to the Washington Post.

As wealthy business people, sports franchise owners often rub elbows with presidents and members of Congress. After decades as a developer and multiple attempts to buy an NFL team himself, Trump entered the White House in 2017 with particularly close relationships within America’s most lucrative sports league.

A Friday fundraiser for Trump in the wealthy summer haven of the Hamptons on Long Island put a microscope on the president’s ties to NFL team bosses. The event’s host, Miami Dolphins owner Stephen Ross, faced swift backlash for his association with a president whose immigration crackdown and comments about lawmakers of color have sparked fresh charges of racism in recent weeks.

Trump’s financial ties to NFL owners stretch well beyond Ross. At least nine owners or the companies they control donated to Trump’s inaugural committee. Several of them have also given money to either Trump’s campaign or its joint fundraising arm with the Republican Party during the 2016, 2018 and 2020 election cycles, according to Federal Election Commission records. Donors include:

Robert McNair, Houston Texas: $1.6 million to Trump inaugural committee, Trump Victory and Trump campaign

Woody Johnson, New York Jets: $1.5 million to Trump inaugural committee, Trump Victory and Trump campaign

Dan Snyder, Washington Redskins: $1.1 million to Trump inaugural committee and Trump Victory

Shahid Khan, Jacksonville Jaguars: $1 million to Trump inaugural committee

Stan Kroenke, Los Angeles Rams: $1 million to Trump inaugural committee

Robert Kraft, New England Patriots: His company, Kraft Group, gave $1 million to the Trump inaugural committee

James Haslam, Cleveland Browns: $100,000 to Trump inaugural committee (his company, Pilot Travel Centers, gave another $300,000)

Edward Glazer, Tampa Bay Buccaneers: $302,700 to Trump inaugural committee, Trump Victory and Trump campaign (Glazer also hosted a fundraiser for Trump Victory in March 2018)

Jerry Jones, Dallas Cowboys: Glenstone Limited Partnership, a business entity linked to Jones that shares the Cowboys’ address, gave $1 million to Trump’s inaugural committee

The owners and their firms put about $7.7 million toward the president’s 2017 inauguration. They have piled at least another $1.1 million in Trump’s election efforts.

Trump most often touts his friendship with Kraft, the Patriots owner and Kraft Group CEO. While his company donated $1 million to Trump’s inaugural committee, other NFL owners have spent considerably more to support the president.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: jacob pramuk brian schwartz, jacob pramuk, brian schwartz
Keywords: news, cnbc, companies, trumps, victory, ties, million, trump, inaugural, owners, nfl, owner, committee, ross, kraft, money, stephen, dolphins, deeper


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Robert Mueller’s Russia probe cost nearly $32 million in total, Justice Department says

Jonathan Ernst | ReutersThe nearly two-year special counsel investigation of Russian election interference led by Robert Mueller cost nearly $32 million in total, a new filing shows. About $4.12 million of that was spent through the special counsel’s office directly, and $2.44 million came from DOJ components that supported Mueller’s office. The first 16 months of the probe cost $25.2 million in total. The special counsel’s fourth and final spending report took significantly longer to disclose t


Jonathan Ernst | ReutersThe nearly two-year special counsel investigation of Russian election interference led by Robert Mueller cost nearly $32 million in total, a new filing shows. About $4.12 million of that was spent through the special counsel’s office directly, and $2.44 million came from DOJ components that supported Mueller’s office. The first 16 months of the probe cost $25.2 million in total. The special counsel’s fourth and final spending report took significantly longer to disclose t
Robert Mueller’s Russia probe cost nearly $32 million in total, Justice Department says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: kevin breuninger
Keywords: news, cnbc, companies, department, justice, robert, russia, cost, special, million, office, total, counsels, counsel, committee, muellers, probe, investigation, nearly, house


Robert Mueller's Russia probe cost nearly $32 million in total, Justice Department says

Former Special Counsel Robert Mueller exits during a break in testimony during a House Intelligence Committee hearing on the Office of Special Counsel’s investigation into Russian Interference in the 2016 Presidential Election on Capitol Hill in Washington, July 24, 2019. Jonathan Ernst | Reuters

The nearly two-year special counsel investigation of Russian election interference led by Robert Mueller cost nearly $32 million in total, a new filing shows. The expenditures report, shared with CNBC by the Department of Justice on Friday, covers the final eight months of the probe, in which the special counsel spent about $6.56 million. About $4.12 million of that was spent through the special counsel’s office directly, and $2.44 million came from DOJ components that supported Mueller’s office. The first 16 months of the probe cost $25.2 million in total.

The special counsel’s fourth and final spending report took significantly longer to disclose than prior filings, and arrived weeks after Justice Department officials expected it to be made public. But even in its absence, political leaders including President Donald Trump and House Judiciary Committee Chairman Jerry Nadler, D-N.Y., have made the cost of the investigation a focal point of their arguments for or against it. Trump, without providing evidence, has asserted since at least November of last year that the investigation cost more than $40 million. But Democrats have countered that the millions of dollars estimated to be forfeited from individuals found guilty through the probe — such as Trump’s former campaign chairman, Paul Manafort — effectively zeroed out the costs. “You secured the convictions of President Trump’s campaign chairman, his deputy campaign manager, his national security advisor, and his personal lawyer, among others,” Nadler said at the start of Mueller’s historic testimony before the House Judiciary Committee last week. “In the Paul Manafort case alone, you recovered as much as $42 million, so that the cost of your investigation to the taxpayers approaches zero.”


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: kevin breuninger
Keywords: news, cnbc, companies, department, justice, robert, russia, cost, special, million, office, total, counsels, counsel, committee, muellers, probe, investigation, nearly, house


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Trump allies open congressional inquiry into Capital One breach with letters to CEO, Amazon’s Bezos

Representative Jim Jordan, a Republican from Ohio and ranking member of the House Oversight Committee, speaks during a hearing with Michael Cohen, former personal lawyer to U.S. President Donald Trump, not pictured, in Washington, D.C., U.S., on Wednesday, Feb. 27, 2019. Republicans on the U.S. House Committee on Oversight and Reform on Thursday opened a formal inquiry into Capital One’s recent data breach, requesting CEO Richard Fairbank and Amazon founder Jeff Bezos arrange briefings to discus


Representative Jim Jordan, a Republican from Ohio and ranking member of the House Oversight Committee, speaks during a hearing with Michael Cohen, former personal lawyer to U.S. President Donald Trump, not pictured, in Washington, D.C., U.S., on Wednesday, Feb. 27, 2019. Republicans on the U.S. House Committee on Oversight and Reform on Thursday opened a formal inquiry into Capital One’s recent data breach, requesting CEO Richard Fairbank and Amazon founder Jeff Bezos arrange briefings to discus
Trump allies open congressional inquiry into Capital One breach with letters to CEO, Amazon’s Bezos Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: thomas franck
Keywords: news, cnbc, companies, cloud, ranking, congressional, letters, breach, capital, bezos, committee, amazons, michael, member, jordan, jim, ceo, oversight, open, trump, inquiry


Trump allies open congressional inquiry into Capital One breach with letters to CEO, Amazon's Bezos

Representative Jim Jordan, a Republican from Ohio and ranking member of the House Oversight Committee, speaks during a hearing with Michael Cohen, former personal lawyer to U.S. President Donald Trump, not pictured, in Washington, D.C., U.S., on Wednesday, Feb. 27, 2019.

Republicans on the U.S. House Committee on Oversight and Reform on Thursday opened a formal inquiry into Capital One’s recent data breach, requesting CEO Richard Fairbank and Amazon founder Jeff Bezos arrange briefings to discuss the hack.

In a pair of letters obtained by CNBC, ranking member Jim Jordan, North Carolina’s Mark Meadows and Texas congressman Michael Cloud highlighted the wide-ranging impact of the breach and possible security implications for Amazon Web Service, the company’s popular cloud storage platform.

The three known Trump allies requested staff-level briefings on the matter no later than Aug. 15.

“Because AWS will provide the trusted Internet connection and cloud support for the 2020 Census and could potentially run the Department of Defense’s Join Enterprise Defense Infrastructure cloud computing system, the Committee may carefully examine the consequences of this breach,” the congressmen wrote.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: thomas franck
Keywords: news, cnbc, companies, cloud, ranking, congressional, letters, breach, capital, bezos, committee, amazons, michael, member, jordan, jim, ceo, oversight, open, trump, inquiry


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FED CUTS RATE BY A QUARTER POINT, CITES ‘GLOBAL DEVELOPMENTS,’ ‘MUTED INFLATION’

It was the first rate cut by the central bank in more than a decade. In approving the cut, the FOMC cited “implications of global developments for the economic outlook as well as muted inflation pressures.” Balance sheet reduction endsThe Fed also left the door open to future cuts, saying it will “act as appropriate to sustain the expansion” as it continues to evaluate the incoming data. Along with the rate cut, the committee decided to end the reduction of bonds it is holding on its balance she


It was the first rate cut by the central bank in more than a decade. In approving the cut, the FOMC cited “implications of global developments for the economic outlook as well as muted inflation pressures.” Balance sheet reduction endsThe Fed also left the door open to future cuts, saying it will “act as appropriate to sustain the expansion” as it continues to evaluate the incoming data. Along with the rate cut, the committee decided to end the reduction of bonds it is holding on its balance she
FED CUTS RATE BY A QUARTER POINT, CITES ‘GLOBAL DEVELOPMENTS,’ ‘MUTED INFLATION’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: jeff cox
Keywords: news, cnbc, companies, basis, muted, point, developments, cut, end, market, rate, fed, sheet, reduction, cites, quarter, committee, inflation, economy, global, cuts


FED CUTS RATE BY A QUARTER POINT, CITES 'GLOBAL DEVELOPMENTS,' 'MUTED INFLATION'

The Federal Reserve lowered its benchmark rate by a quarter point Wednesday as an insurance policy not against what’s wrong with the economy now, but what could go wrong in the future. It was the first rate cut by the central bank in more than a decade. Amid President Donald Trump’s intense political pressure and persistent market expectations, the policymaking Federal Open Market Committee dropped the target range for its overnight lending rate to 2% to 2.25%, or 25 basis points from the previous level. In approving the cut, the FOMC cited “implications of global developments for the economic outlook as well as muted inflation pressures.” The committee called the current state of growth “moderate” and the labor market “strong,” but decided to loosen policy anyway. The stock market dove later in the afternoon when Fed Chair Jerome Powell noted that the cut was simply a “midcycle adjustment” and that the committee did not see the type of marked economic weakness that would necessitate a longer rate-cutting cycle. The rate is tied to most forms of consumer debt and is likely to almost immediately have an impact on lowering credit costs.

Balance sheet reduction ends

The Fed also left the door open to future cuts, saying it will “act as appropriate to sustain the expansion” as it continues to evaluate the incoming data. “There’s a range of things that they’re looking at. Really, the low inflation allows the Fed some latitude to take preemptive steps and hopefully avoid moving in the future to something like negative rates,” said Mark Haefele, global chief investment officer at UBS Wealth Management. “Because they did only 25 basis points, they avoided doing what some would have felt was more shock and awe with 50 basis points. So they can move towards language like ‘data dependent’ now that they’ve shown they are prepared to be flexible.” The vote to cut also came with a move to end, two months earlier than planned, the reduction of bonds the central bank holds on its balance sheet. “This action supports the Committee’s view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective are the most likely outcomes, but uncertainties about this outlook remain,” the FOMC’s post-meeting statement said. The rate cut saw two dissents, with Fed presidents Esther L. George of Kansas City and Eric Rosengren of Boston casting no votes, as many observers had expected. Trump had been looking for a 50 basis point cut, so it remains to be seen whether the easing will stem his ongoing criticism of Powell and his fellow policymakers. The quarter-point cut was widely expected. The initial reaction from the financial markets was muted with major stock indexes and bond yields remaining little changed.

First cut since 2008

The move marked the first reduction in the funds rate since Dec. 16, 2008, as the U.S. economy was spiraling through a financial crisis that had threatened to crush the global economy. In that case, a sense of urgency over the depth of the downturn pushed the FOMC to take the rate from 1% down to a range of 0%-0.25%, where it remained for seven years. In making the move following this week’s two-day meeting, policymakers noted business investment that “has been soft” though household spending “has picked up from earlier in the year.” Along with the rate cut, the committee decided to end the reduction of bonds it is holding on its balance sheet. In another action aimed at resuscitating the moribund crisis-era economy, the Fed had instituted three rounds of purchases involving Treasurys and mortgage-backed securities. The program, known in the markets as quantitative easing, took the balance sheet past $4.5 trillion at one point. In October 2017, the committee began reducing the size of the bond portfolio by allowing a capped level of proceeds to roll off each month while reinvesting the rest. The end had been targeted for September, but the FOMC decided to go two months earlier, with all proceeds now to be reinvested as of Thursday. In all, the holdings fell by $618 billion, but remain at $3.6 trillion. That’s well above the level most Fed officials and market participants anticipated by the time the rolloff finished. Ending the program sooner than expected is indicative that it did not turn out to be, as former Chair Janet Yellen had once estimated, “like watching paint dry.” Instead, the nine rate hikes since December 2015 as well as the end of QE wound up being more disruptive than Fed officials had anticipated. Powell learned that the hard way when markets erupted after he said in December that the balance sheet reduction was on “autopilot.”

Trump effect


Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: jeff cox
Keywords: news, cnbc, companies, basis, muted, point, developments, cut, end, market, rate, fed, sheet, reduction, cites, quarter, committee, inflation, economy, global, cuts


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If the Fed cuts rates this week, it could widen a growing rift within the central bank

“You’ve already had [Boston Fed President Eric] Rosengren come out and say he doesn’t think a rate hike is justified. Rieder said he puts odds of about 40% on a half percentage point cut. Partly that is why I think there is a better than 60% chance” for a quarter point cut. That and other comments caused a shift in market views to expect a greater probability of the the more aggressive 50 basis point rate cut. George, speaking to the Wall Street Journal, said this month that she was prepared to


“You’ve already had [Boston Fed President Eric] Rosengren come out and say he doesn’t think a rate hike is justified. Rieder said he puts odds of about 40% on a half percentage point cut. Partly that is why I think there is a better than 60% chance” for a quarter point cut. That and other comments caused a shift in market views to expect a greater probability of the the more aggressive 50 basis point rate cut. George, speaking to the Wall Street Journal, said this month that she was prepared to
If the Fed cuts rates this week, it could widen a growing rift within the central bank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: patti domm
Keywords: news, cnbc, companies, committee, widen, rift, rates, cut, dissents, williams, rate, point, going, bank, week, rosengren, think, growing, central, fed, cuts


If the Fed cuts rates this week, it could widen a growing rift within the central bank

Esther George, John Williams and Jerome Powell, at Jackson Hole, Wyoming, August 24, 2018. David A. Grogan | CNBC

There’s a good chance one or two, and maybe even three, Fed officials could disagree with the central bank’s decision to cut rates Wednesday, and that could make it more difficult for markets to glean the course of future Fed policy. The Fed’s policy arm, the Federal Open Market Committee is widely expected to vote in favor of a 25 basis point rate cut Wednesday, while a minority of economists say it’s possible the Fed could cut 50 basis points, in order to get a bigger response out of the economy. The fed funds futures market reflects a 73% probability of a quarter point hike, and 27% of a half point move. The core of the FOMC is made up of Fed Chair Jerome Powell and Vice Chair Richard Clarida and New York Fed President John Williams, who serve as his wingmen. The core of former Chair Janet Yellen’s included former Vice Chair Stanley Fischer and former New York Fed President Bill Dudley. “I would guess some members of the FOMC feel like they’ve been painted into a corner here because of the very aggressive pricing in the market,” said Ethan Harris, head of global economics research at Bank of America Merrill Lynch. “You’ve already had [Boston Fed President Eric] Rosengren come out and say he doesn’t think a rate hike is justified. Most members of the committee are willing to consider rate cuts but the impression is the big three seem to have put a bulls eye on the July meeting, and I’m not sure that’s shared by the whole committee.” Both Kansas City Fed President Esther George and Boston’s Rosengren have spoken against cutting rates, and a third possible dissenter, St. Louis James Bullard could disagree with the committee if it opts for a larger rate cut of 50 percentage points, over the 25 percentage point cut he would like to see. In late June, he said a 50 basis point move would be overdone.

Three dissents possible

“The big debate there is going to be between the core of the committee and others, like Rosengren. It’s the core of the committee that I think would like to act aggressively. It’s possible you get three dissents,” said Rick Rieder, BlackRock chief investment officer, global fixed income. “The size of the dissents we get are going to be influential as to how the markets are going to price. If you get a good deal of dissents, the markets are going to discount future moves.” Rieder said he puts odds of about 40% on a half percentage point cut. “If you get a good deal of dissents, the markets are going to discount future moves. Partly that is why I think there is a better than 60% chance” for a quarter point cut. Scott Minerd, Guggenheim global chief investment officer, said Powell will try to rein in the dissent. “I think if you had two or three dissenters, it would tell you that there’s a bigger uncertainty around the path of future rates than what the market is currently anticipating,” he said. He added that Powell, who is not an economist, will rely on Clarida and Williams to help convince other Fed officials on why the cuts are needed. “I don’t think all of them are on board for 25, but I think there will be a lot of pressure to get them on board. There will be people who will try to get them to move 50, and they’ll say ‘let’s meet in the middle and try to compromise and show unity,” he said. Williams surprised markets earlier this month when he said in a speech before the annual meeting of the Central Bank Research Association that “it’s better to take preventative measures than to wait for disaster to unfold.” That and other comments caused a shift in market views to expect a greater probability of the the more aggressive 50 basis point rate cut. But the Fed later said that Williams was not discussing current policy when he made that comment. The next day Boston’s Rosengren appeared on CNBC and said he didn’t see a need to trim the federal funds target rate range, now between 2.25 and 2.5%. “So, given that the economy is quite strong, given that I do think that inflation is going to be very close to 2%, and given that the growth in the economy is satisfactory, I think that’s an environment where you don’t have to take a lot of action,” Rosengren said. George, speaking to the Wall Street Journal, said this month that she was prepared to be flexible but didn’t see reasons for a rate cut. BofA’s Harris said he does not see a big group of dissenters. “I don’t think the committee as a group wants to present themselves as fractured,” he said. “What the Fed is doing is unprecedented. There’s no historical precedent…There’s no example that with still above trend growth and still above trend labor growth has the Fed eased in the middle of an expansion. This is a six sigma event. If there were more clear evidence that the trade war was hurting, this would only be a small departure from normal but actually the data in the last month has improved.”

Some dissents not uncommon


Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: patti domm
Keywords: news, cnbc, companies, committee, widen, rift, rates, cut, dissents, williams, rate, point, going, bank, week, rosengren, think, growing, central, fed, cuts


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Trump nominee for intelligence chief John Ratcliffe accused Mueller of violating ‘sacred traditions’ in Russia probe conclusions

President Donald Trump’s just-announced nominee to replace Dan Coats as director of national intelligence had already drawn national attention earlier this week, when he delivered an aggressive diatribe against former special counsel Robert Mueller. Mueller’s 448-page report found insufficient evidence to prove coordination, and declined to make a determination on obstruction despite detailing numerous examples of potential obstruction by Trump. But the report notes: “While this report does not


President Donald Trump’s just-announced nominee to replace Dan Coats as director of national intelligence had already drawn national attention earlier this week, when he delivered an aggressive diatribe against former special counsel Robert Mueller. Mueller’s 448-page report found insufficient evidence to prove coordination, and declined to make a determination on obstruction despite detailing numerous examples of potential obstruction by Trump. But the report notes: “While this report does not
Trump nominee for intelligence chief John Ratcliffe accused Mueller of violating ‘sacred traditions’ in Russia probe conclusions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-28  Authors: kevin breuninger
Keywords: news, cnbc, companies, violating, trump, ratcliffe, john, special, russia, report, election, nominee, mueller, counsel, committee, traditions, trumps, probe, obstruction, sacred, muellers


Trump nominee for intelligence chief John Ratcliffe accused Mueller of violating 'sacred traditions' in Russia probe conclusions

Reresentative John Ratcliffe (R-TX) questions former Special Counsel Robert Mueller during a House Intelligence Committee hearing on the Office of Special Counsel’s investigation into Russian Interference in the 2016 Presidential Election on Capitol Hill in Washington, U.S., July 24, 2019.

President Donald Trump’s just-announced nominee to replace Dan Coats as director of national intelligence had already drawn national attention earlier this week, when he delivered an aggressive diatribe against former special counsel Robert Mueller.

Rep. John Ratcliffe, a Texas Republican and a member of the House Judiciary Committee, had zeroed in on one of the key lines from Mueller’s report on Russian election interference, possible coordination between Trump’s campaign and the Kremlin, and possible obstruction of justice by Trump himself.

Mueller’s 448-page report found insufficient evidence to prove coordination, and declined to make a determination on obstruction despite detailing numerous examples of potential obstruction by Trump.

But the report notes: “While this report does not conclude that the president committed a crime, it also does not exonerate him.”

During Mueller’s first hearing before the Judiciary Committee on Wednesday, Ratcliffe said he agreed with Mueller’s conclusions that Russia’s efforts to meddle in the 2016 presidential election were “sweeping and systematic.”

But he tore into Mueller for including the asterisk in his report that explicitly said Trump was not exonerated.

“Can you give me an example other than Donald Trump where the Justice Department determined that an investigated person was not exonerated because their innocence was not conclusively determined?” Ratcliffe asked Mueller.

The former special counsel responded, “I cannot, but this is a unique situation.”

Ratcliffe shot back: “You can’t find it, because – I’ll tell you why – it doesn’t exist.”


Company: cnbc, Activity: cnbc, Date: 2019-07-28  Authors: kevin breuninger
Keywords: news, cnbc, companies, violating, trump, ratcliffe, john, special, russia, report, election, nominee, mueller, counsel, committee, traditions, trumps, probe, obstruction, sacred, muellers


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Millennials’ financial futures at stake in Social Security reform debate, Republicans say

A congressional debate on a bill to reform Social Security has turned to a key question: whether changes made to the system today will upend millennials’ retirement in the future. A committee hearing of the House Ways and Means Committee on Thursday focused on the potential impact of the Social Security 2100 Act. Social Security’s trust funds are currently projected to be depleted in 2035, at which point only 80% of estimated benefits will be payable. The Social Security 2100 Act aims to shore u


A congressional debate on a bill to reform Social Security has turned to a key question: whether changes made to the system today will upend millennials’ retirement in the future. A committee hearing of the House Ways and Means Committee on Thursday focused on the potential impact of the Social Security 2100 Act. Social Security’s trust funds are currently projected to be depleted in 2035, at which point only 80% of estimated benefits will be payable. The Social Security 2100 Act aims to shore u
Millennials’ financial futures at stake in Social Security reform debate, Republicans say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: lorie konish
Keywords: news, cnbc, companies, futures, debate, wages, benefits, act, ways, committee, millennials, financial, security, reform, 2100, retirees, social, stake, say, system, republicans


Millennials' financial futures at stake in Social Security reform debate, Republicans say

A congressional debate on a bill to reform Social Security has turned to a key question: whether changes made to the system today will upend millennials’ retirement in the future.

A committee hearing of the House Ways and Means Committee on Thursday focused on the potential impact of the Social Security 2100 Act. That bill, put forward by Rep. John Larson, D-Conn., earlier this year, is aimed at expanding the solvency of the program for the rest of this century while expanding benefits for retirees and other beneficiaries.

Social Security’s trust funds are currently projected to be depleted in 2035, at which point only 80% of estimated benefits will be payable. Today’s retirees receive an average of $17,000 per year in benefits.

The Social Security 2100 Act aims to shore up the system by raising payroll taxes on wages over $400,000. Only wages up to $132,900 are currently taxed.

The plan also proposes increasing payroll contributions from both workers and employers. That rate would increase to 7.4% from 6.2% and would be gradually phased in from 2020 to 2043.

Those changes would help pay for the plan’s benefit increases, including give those who are or will be receiving benefits a raise equal to 2% of the average benefit.

But Congressional Democrats and Republicans are divided as to whether this latest proposal will help or hurt Americans’ future retirement.

“I often hear from constituents who wonder if Social Security will still be there for them when they need it,” said Rep. Richard Neal, D-Mass., chairman of the House Ways and Means Committee. “And our constituents want us to strengthen it, not cut it.

“And that’s what the Social Security 2100 Act does,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: lorie konish
Keywords: news, cnbc, companies, futures, debate, wages, benefits, act, ways, committee, millennials, financial, security, reform, 2100, retirees, social, stake, say, system, republicans


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Democratic fundraising committees decline to say whether they will donate or give back Jeffrey Epstein contributions

Three weeks after Jeffrey Epstein was arrested on child sex trafficking charges, Democratic fundraising groups have remained silent on whether they will donate or give back contributions from the wealthy financier. When asked whether the Democratic National Committee or the Democratic Senatorial Campaign Committee will return or contribute these Epstein funds to a charity organization, press representatives for the groups did not respond. Epstein gave at least $80,000 combined to the DNC and the


Three weeks after Jeffrey Epstein was arrested on child sex trafficking charges, Democratic fundraising groups have remained silent on whether they will donate or give back contributions from the wealthy financier. When asked whether the Democratic National Committee or the Democratic Senatorial Campaign Committee will return or contribute these Epstein funds to a charity organization, press representatives for the groups did not respond. Epstein gave at least $80,000 combined to the DNC and the
Democratic fundraising committees decline to say whether they will donate or give back Jeffrey Epstein contributions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-24  Authors: brian schwartz
Keywords: news, cnbc, companies, donate, records, democratic, jeffrey, political, groups, say, decline, contributions, gave, fundraising, epstein, committees, received, committee, dnc


Democratic fundraising committees decline to say whether they will donate or give back Jeffrey Epstein contributions

Billionaire Jeffrey Epstein in Cambridge, MA on 9/8/04. Epstein is connected with several prominent people including politicians, actors and academics.

Three weeks after Jeffrey Epstein was arrested on child sex trafficking charges, Democratic fundraising groups have remained silent on whether they will donate or give back contributions from the wealthy financier.

Epstein started giving to these organizations just over two decades ago. He was first accused of sex crimes in the mid-2000s. When asked whether the Democratic National Committee or the Democratic Senatorial Campaign Committee will return or contribute these Epstein funds to a charity organization, press representatives for the groups did not respond. CNBC has reached out to the committees numerous times over the past two weeks.

Epstein gave at least $80,000 combined to the DNC and the DSCC from the late 1990s through the early 2000s, according to Federal Election Commission records. Epstein’s donations to the committees were given either directly or through Democratic joint fundraising operations, including one in part led by Hillary Clinton’s U.S. Senate exploratory committee called New York Senate 2000.

Epstein has pleaded not guilty to the charges.

Don Fowler, who was DNC co-chairman from January 1995 through January 1997, questioned why the committees should give away these donations due to the checks being written decades earlier.

“Go back and give money that he gave 20 years ago? Are you nuts? That’s my answer to that,” Fowler told CNBC in an interview Wednesday.

“Maybe the RNC [Republican National Committee] should return any money that anyone gave to supporters of Richard Nixon,” he emailed later.

When asked about Democratic Senate Minority Leader Chuck Schumer, who gave $7,000 in campaign contributions from Epstein to charities, Fowler said the New York lawmaker is “one person who is completely isolated from any political threat.” He called it “a nice little symbolic gesture.”

The Democratic Congressional Campaign Committee saw a $10,000 donation from Epstein last year but immediately sent it back.

Stacey Plaskett, a Democratic congresswoman, recently reversed course and gave the value of her checks to charities.

While Epstein has given to Republicans in the past – including former President George H.W. Bush, retired Sen. Bob Dole and former Ohio Gov. John Kasich, who received a $1,000 Epstein contribution during his time in Congress – records do not show that he gave to GOP fundraising committees.

Epstein was listed on a guest roster at a DNC donor event in 1995 at the Palm Beach, Florida, home of billionaire political donor Ronald Perelman, which included the likes of President Bill Clinton, singer Jimmy Buffett and actor Don Johnson.

The Palm Beach Post, which reported on the gathering at the time, said that some attendees gave as much as $100,000 to the DNC to dine with Clinton. Another participant was Arnold Paul Prosperi, a longtime college friend of the then commander in chief. Prosperi conducted regular visits to a Palm Beach County, Florida, jail where Epstein resided after his initial 13-month prison sentence in 2008.

Fowler reportedly participated in the Perelman dinner, and when asked about this, he says he can’t recall meeting Epstein and didn’t remember anything about the gathering.

Democratic and Republican committees in the past have come under scrutiny for how they’ve handled the contributions they’ve received from those later accused of some forms of sexual harassment.

After Hollywood movie producer and Democratic megadonor Harvey Weinstein was accused by multiple women of harassment and assault, the DNC gave the $30,000 it received from him during the 2016 election cycle to three political groups instead of charities. Republicans, at the time, pounced on the lack of money going to charitable organizations and that the refund was only a fraction of the at least $300,000 the DNC had brought in from Weinstein since he started getting involved with political giving. Weinstein had been giving to Democratic candidates and their committees since 1991, records show.

Weinstein has denied any incidents of nonconsensual sex.

The RNC, likewise, has received its share of criticism after deciding to continue to accept hundreds of thousands of dollars from casino magnate Steve Wynn, the group’s former finance chair, after he has seen numerous accusations of sexual misconduct.

In the second quarter, FEC records show that the RNC saw almost $245,000 added to its coffers from Wynn. The National Republican Senatorial Committee and its affiliated joint fundraising group, NRSC Victory, combined saw $290,000.

Republican officials have said they have no intention of giving away or return those funds.

Wynn has denied allegations of misconduct.


Company: cnbc, Activity: cnbc, Date: 2019-07-24  Authors: brian schwartz
Keywords: news, cnbc, companies, donate, records, democratic, jeffrey, political, groups, say, decline, contributions, gave, fundraising, epstein, committees, received, committee, dnc


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