CBO expects deficit to grow more than projected, warns that tariff hikes could harm growth

Federal deficits are expected to swell to higher levels over the next decade than previously expected, the nonpartisan Congressional Budget Office said in a new report Wednesday. The CBO also said that President Donald Trump’s tariffs are projected to shrink gross domestic product by 2020, and warned that further tariff hikes could stifle economic growth. The new deficit projection for 2019 rose $63 billion from the last report, which came out in May. “The nation’s fiscal outlook is challenging,


Federal deficits are expected to swell to higher levels over the next decade than previously expected, the nonpartisan Congressional Budget Office said in a new report Wednesday. The CBO also said that President Donald Trump’s tariffs are projected to shrink gross domestic product by 2020, and warned that further tariff hikes could stifle economic growth. The new deficit projection for 2019 rose $63 billion from the last report, which came out in May. “The nation’s fiscal outlook is challenging,
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Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: kevin breuninger ylan mui, kevin breuninger, ylan mui
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CBO expects deficit to grow more than projected, warns that tariff hikes could harm growth

Federal deficits are expected to swell to higher levels over the next decade than previously expected, the nonpartisan Congressional Budget Office said in a new report Wednesday.

The CBO also said that President Donald Trump’s tariffs are projected to shrink gross domestic product by 2020, and warned that further tariff hikes could stifle economic growth.

The U.S. budget deficit is expected to hit $960 billion in 2019, and average a whopping $1.2 trillion per year between 2020 and 2029, according to the CBO’s look-ahead at the U.S.’ budget and economic outlook over the next decade.

The new deficit projection for 2019 rose $63 billion from the last report, which came out in May. The CBO says this is mainly because of the massive new budget deal, which passed both houses of Congress and was signed into law by Trump on Aug. 2.

“The nation’s fiscal outlook is challenging,” CBO director Phillip Swagel said in the report. “Federal debt, which is already high by historical standards, is on an unsustainable course.”

Swagel said that the debt is projected to rise even higher after 2029, due to the aging of the U.S. population, growth in health care spending and rising interest costs.

The White House did not immediately respond to CNBC’s request for comment on the new CBO report.


Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: kevin breuninger ylan mui, kevin breuninger, ylan mui
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Fed says July rate cut was ‘recalibration’ and not part of ‘pre-set course’ for more easing

Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. Markets have been pricing in a series of rate cuts, so Powell’s use of the term spread concern that the Fed might not be as accommodative with policy as anticipated. Ultimately, the Federal Open Market Committee, which sets monetary policy, voted to lower the central


Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. Markets have been pricing in a series of rate cuts, so Powell’s use of the term spread concern that the Fed might not be as accommodative with policy as anticipated. Ultimately, the Federal Open Market Committee, which sets monetary policy, voted to lower the central
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Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: jeff cox
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Fed says July rate cut was 'recalibration' and not part of 'pre-set course' for more easing

Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. The summary indicated that policymakers viewed the move as a “mid-cycle adjustment,” an expression Chairman Jerome Powell used in a news conference afterward that was seen as contributing to a stock market sell-off after the July 30-31 meeting. Markets have been pricing in a series of rate cuts, so Powell’s use of the term spread concern that the Fed might not be as accommodative with policy as anticipated. Ultimately, the Federal Open Market Committee, which sets monetary policy, voted to lower the central bank’s benchmark rate by 25 basis points to a target range of 2% to 2.5%. It was the first rate cut in 11 years, dating to the financial crisis. However, members did not commit to future cuts.

Recalibration

“In their discussion of the outlook for monetary policy beyond this meeting, participants generally favored an approach in which policy would be guided by incoming information and its implications for the economic outlook and that avoided any appearance of following a pre-set course,” the minutes stated. The document went on to say that “most participants” saw the quarter-point cut “as part of a recalibration of the stance of policy, or mid-cycle adjustment” in response to changing conditions. “A number of participants suggested that the nature of many of the risks they judged to be weighing on the economy, and the absence of clarity regarding when those risks might be resolved, highlighted the need for policymakers to remain flexible and focused on the implications of incoming data for the outlook,” the minutes said.

US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC on July 31, 2019. Andrew Caballero-Reynolds | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: jeff cox
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Attorney General Barr orders removal of acting US prisons director after Epstein’s death

US Attorney General William Barr testifies before the Senate Judiciary Committee on “The Justice Department’s Investigation of Russian Interference with the 2016 Presidential Election” on Capitol Hill in Washington, DC, on May 1, 2019. Attorney General William Barr has ordered the removal of a top U.S. prisons official following Jeffrey Epstein’s death. In a statement Monday, the attorney general said he will name Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons. She will s


US Attorney General William Barr testifies before the Senate Judiciary Committee on “The Justice Department’s Investigation of Russian Interference with the 2016 Presidential Election” on Capitol Hill in Washington, DC, on May 1, 2019. Attorney General William Barr has ordered the removal of a top U.S. prisons official following Jeffrey Epstein’s death. In a statement Monday, the attorney general said he will name Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons. She will s
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Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jacob pramuk
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Attorney General Barr orders removal of acting US prisons director after Epstein's death

US Attorney General William Barr testifies before the Senate Judiciary Committee on “The Justice Department’s Investigation of Russian Interference with the 2016 Presidential Election” on Capitol Hill in Washington, DC, on May 1, 2019.

Attorney General William Barr has ordered the removal of a top U.S. prisons official following Jeffrey Epstein’s death.

In a statement Monday, the attorney general said he will name Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons. She will succeed Hugh Hurwitz, acting director of the agency that oversees inmates in federal prisons.

Barr said he will appoint Thomas Kane as deputy director of the prisons bureau. Meanwhile, Hurwitz will lead the agency’s Reentry Services Division, according to the attorney general.

“I am pleased to welcome back Dr. Hawk Sawyer as the Director of the Federal Bureau of Prisons. Under Dr. Hawk Sawyer’s previous tenure at the Bureau, she led the agency with excellence, innovation, and efficiency, receiving numerous awards for her outstanding leadership,” Barr said in a statement that did not mention Epstein’s death.

Epstein, a 66-year-old financier, was found dead in his Manhattan jail cell earlier this month as he awaited trial on charges of sex trafficking of minors and sex trafficking conspiracy. His death was ruled a suicide by hanging. The former friend of Presidents Bill Clinton and Donald Trump had pleaded not guilty to the charges.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jacob pramuk
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3 last-minute ways to get more money for college

File student aid formsIf you haven’t already submitted the Free Application for Federal Student Aid (aka FAFSA), it’s not too late. Doing so could help you get any need-based federal, state, and college grant money that’s still available, and make you eligible to take out federal student loans — which are cheaper and provide more borrower protections than private loans. Work with your collegeReach out to your school’s financial aid office directly. Every school has their own protocol for awardin


File student aid formsIf you haven’t already submitted the Free Application for Federal Student Aid (aka FAFSA), it’s not too late. Doing so could help you get any need-based federal, state, and college grant money that’s still available, and make you eligible to take out federal student loans — which are cheaper and provide more borrower protections than private loans. Work with your collegeReach out to your school’s financial aid office directly. Every school has their own protocol for awardin
3 last-minute ways to get more money for college Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: ivana pino, lance lambert, myelle lansat
Keywords: news, cnbc, companies, lastminute, tuition, money, aid, fafsa, thing, costs, federal, college, ways, families, student, financial


3 last-minute ways to get more money for college

Fall tuition bills are coming due for college students and their families. If you’re struggling to pay, or worried about how you’ll handle all of your expenses, here are a few strategies to consider.

1. File student aid forms

If you haven’t already submitted the Free Application for Federal Student Aid (aka FAFSA), it’s not too late. The FAFSA is a widely used form that colleges and federal and state governments review to figure out how much financial aid you can get. As of this spring, only 56% of families with a student in or headed to college had completed the FAFSA for the upcoming academic year, according to a Sallie Mae survey of 2,006 parents and students. About a quarter of families never submit the form for a given year, data from previous years suggests. It takes about an hour to fill out the FAFSA, according to Edvisors.com. Doing so could help you get any need-based federal, state, and college grant money that’s still available, and make you eligible to take out federal student loans — which are cheaper and provide more borrower protections than private loans.

2. Work with your college

Reach out to your school’s financial aid office directly. Every school has their own protocol for awarding or amending your financial aid package. You many need to file a formal appeal that requires writing a personal letter or submitting documentation that demonstrates how your financial situation has changed. The college may be able to offer additional grant money or opportunities for work-study. Don’t hesitate to ask about increasing the value of scholarships you’ve been awarded, either. “College is a buyer’s market, and most schools are not meeting their enrollment goal — so you can appeal an award even if you don’t have extenuating circumstances,” says Lynn O’Shaughnessy, author of “The College Solution.”

The most important thing is to be patient. For many financial aid offices, the start of the semester is their busiest time, but any little bit you can deduct from your overall costs will help. Elaine Rubin senior contributor and communications specialist at Edvisors

If you can’t negotiate a better package, you can request to be put on a payment plan that allows you to pay tuition in installments over the course of the year. While this won’t cut down your costs, it can make them more manageable. “The most important thing is to be patient,” says Elaine Rubin, senior contributor and communications specialist at Edvisors. “For many financial aid offices, the start of the semester is their busiest time, but any little bit you can deduct from your overall costs will help.”

3. Apply for private scholarships


Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: ivana pino, lance lambert, myelle lansat
Keywords: news, cnbc, companies, lastminute, tuition, money, aid, fafsa, thing, costs, federal, college, ways, families, student, financial


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Here’s when unpaid debt can reduce your Social Security payments

For older Americans, Social Security promises guaranteed monthly income. While most creditors — i.e., credit-card companies or other lenders — can’t touch your Social Security payments, some types of delinquent debt can reduce those monthly checks. “While the person might know that they owe debt, it might come as a surprise that it can reach their Social Security,” Sherman said. Other federal debtThe Treasury Department also can garnish Social Security checks for debt that originated with other


For older Americans, Social Security promises guaranteed monthly income. While most creditors — i.e., credit-card companies or other lenders — can’t touch your Social Security payments, some types of delinquent debt can reduce those monthly checks. “While the person might know that they owe debt, it might come as a surprise that it can reach their Social Security,” Sherman said. Other federal debtThe Treasury Department also can garnish Social Security checks for debt that originated with other
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Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: sarah obrien
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Here's when unpaid debt can reduce your Social Security payments

For older Americans, Social Security promises guaranteed monthly income. Except when you have certain kinds of unpaid debt. While most creditors — i.e., credit-card companies or other lenders — can’t touch your Social Security payments, some types of delinquent debt can reduce those monthly checks. And when they do, look out. “If you’re actively paying on the debt, there shouldn’t be an issue,” said certified financial planner Peggy Sherman, lead advisor at Briaud Financial Advisors in College Station, Texas. “It’s when you default and the debt gets to be too delinquent that it becomes a problem.”

Jose Luis Pelaez, Inc. | Getty Images

As a group, older Americans’ debt burden continues climbing. In the 60-to-69 age group, total consumer debt — i.e., mortgages, loans, credit cards — is nearly $2.2 trillion, compared with $380 billion in 1999, according to the latest data from the Federal Reserve Bank of New York. Among those age 70 and older, it’s close to $1.2 trillion, up from $180 billion in 1999. At the same time, people in their 60s are typically transitioning to retirement and going on Social Security — the most popular age to start those benefits is 62, according to the government. About 48% of married couples, and 69% of singles age 65 and older, get at least half of their income from those monthly checks. Another 21% of married couples and 44% of unmarried individuals rely on them for 90% or more of their income. The average monthly benefit today is $1,461. While delinquency rates remain relatively low (below 1.5%) across most types of consumer debt for people age 60 and older, those who are in danger of defaulting should know whether it could affect their Social Security income. Same goes for other types of financial obligations, like back taxes or unpaid child support. “While the person might know that they owe debt, it might come as a surprise that it can reach their Social Security,” Sherman said.

Federal taxes

For delinquent federal income taxes, the Treasury Department can either levy up to 15% of your benefit until the debt is repaid, or, less frequently, garnish everything but living expenses until you’ve paid it off. “That could last for however many months it takes for the tax to be repaid,” Sherman said. People who owe back taxes should reach out to the IRS instead of ignoring the debt. Depending on your situation, you could qualify for a payment plan to tackle it over time, or you might be able to negotiate a lower bill. In some cases of extreme economic hardship, you could have the debt erased altogether.

Other federal debt

The Treasury Department also can garnish Social Security checks for debt that originated with other federal agencies, such as the Education Department — i.e., federal student loans. In this situation, up to 15% also can be withheld, but that garnishment cannot reduce your monthly benefit below $750. The share of consumers age 60 and older with outstanding student loan debt quadrupled from 2005 to 2015, to 2.8 million from about 700,000 people, according to a 2017 report from the Consumer Financial Protection Bureau. The share of all student loan borrowers who are age 60 and older went to 6.4% from 2.7% in that time, while the average amount owed grew to $23,500 from $12,100. Moreover, the number of Social Security recipients 65 and older who had their check reduced due to defaulted student loans increased by more than 500% between 2002 and 2015, according to a report from the Government Accountability Office.

Joshua Cohen, a consumer rights attorney who focuses on student loan law, said he counts older Americans among his clients who are seeking help for loans they’ve taken out both for themselves and others such as children or grandchildren. Some already are dealing with garnishments from their Social Security checks, while others fear they are in danger of reaching that point. “If you’re not experiencing it yet, you should look at how to maneuver yourself into an income-driven plan,” said Cohen, who is based in West Dover, Vermont. “If you’re already getting the [reduction], you should research how to get out of default and into a plan.” Income-driven repayment plans cap your monthly bill at a percentage of your income. Sometimes, that could mean a payment as low as $0. For any garnishment related to federal debt, you should receive notices that it’s going to happen. However, Cohen said, those notices may end not getting opened, or get delivered to an old address, or, perhaps, misunderstood by the recipient. In the end, though, you’re supposed to get at least a 30-day notice that the levy to your Social Security is going to start.

Other obligations

If you’ve fallen behind on child support or alimony (also known as spousal support), a judicial order could result in your Social Security benefits being garnished. Exactly how much could be withheld depends on the state you live in. It could be up to federal limit, which is 50% of your benefits if you are supporting another spouse or child. If you’re not in that situation, it’s 60%. And if you’re behind more than 12 weeks, up to 65% can be taken, Sherman said. It’s not an automatic event, though. “The parent of the child would have to go to the court and seek payment,” Sherman said. “Same thing for an ex-spouse and alimony.” Additionally, your payments could be reduced, by up to 25%, due to court-ordered restitution to a victim of a crime you were convicted of.

Once your benefits hit your account


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: sarah obrien
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‘CRAZY INVERTED YIELD CURVE!’ — Trump rips ‘clueless Jay Powell’ and the Fed as the market slides

President Donald Trump blamed the Federal Reserve for mounting fears about a slowing U.S. economy on Wednesday as he defended his administration’s trade war with China. In a pair of tweets, the president argued the central bank and its “clueless” chairman, Jay Powell, have dragged on the U.S. economy. Trump also claimed “we are winning, big time” in his administration’s trade conflict with the world’s second-largest economy. “China is not our problem,” but rather “our problem is with the Fed” an


President Donald Trump blamed the Federal Reserve for mounting fears about a slowing U.S. economy on Wednesday as he defended his administration’s trade war with China. In a pair of tweets, the president argued the central bank and its “clueless” chairman, Jay Powell, have dragged on the U.S. economy. Trump also claimed “we are winning, big time” in his administration’s trade conflict with the world’s second-largest economy. “China is not our problem,” but rather “our problem is with the Fed” an
‘CRAZY INVERTED YIELD CURVE!’ — Trump rips ‘clueless Jay Powell’ and the Fed as the market slides Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: jacob pramuk
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'CRAZY INVERTED YIELD CURVE!' — Trump rips 'clueless Jay Powell' and the Fed as the market slides

President Donald Trump blamed the Federal Reserve for mounting fears about a slowing U.S. economy on Wednesday as he defended his administration’s trade war with China.

In a pair of tweets, the president argued the central bank and its “clueless” chairman, Jay Powell, have dragged on the U.S. economy. He also blamed the Fed for the yield on the 2-year U.S. Treasury moving higher than the yield on the benchmark 10-year Treasury — an indicator of a possible recession that contributed to major U.S. stock indexes dropping about 3% on Wednesday.

“CRAZY INVERTED YIELD CURVE!” the president wrote. “We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!”

Trump also claimed “we are winning, big time” in his administration’s trade conflict with the world’s second-largest economy. “China is not our problem,” but rather “our problem is with the Fed” and its interest rate policy, he said.

Trump has repeatedly pushed the Fed to cut its benchmark federal funds rate in recent months as the trade conflict with Beijing has, at times, contributed to stock market chaos and concerns about U.S. economic growth slowing. On Tuesday, he argued the Fed “raised too much” and “too fast” in hiking rates by a quarter of a percentage point seven different times in 2017 and 2018.

He said the central bank is “now too slow to cut” rates. Last month, the Fed decreased the target range on the federal funds rate to 2% to 2.25% — the first time it cut rates since the 2008 financial crisis. Trump nominated Powell for the job.

On Tuesday, Trump delayed new tariffs on some Chinese goods that were set to take effect on Sept. 1. They will now be implemented on Dec. 15. Stocks popped Tuesday following the announcement as investors grew more hopeful about the trade conflict easing or ending.

Trump told reporters “we’re doing this for the Christmas season, just in case some of the tariffs would have an impact on U.S. consumers. ” The president and members of his administration have insisted China will bear the burden of the duties rather than American businesses and consumers.

The yield curve inversion sent fear back into stock markets Wednesday. The falling yields in longer-term U.S. Treasurys reflect a move into safe-haven assets as concerns grow about the economy’s health.

The bond market phenomenon took place Wednesday as parts of the global economy showed signs of flagging. Germany’s economy contracted by 0.1% between April and June, according to data released Wednesday.

The Trump administration is not actively working on plans to kick-start the U.S. economy, The Washington Post reported Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: jacob pramuk
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Attorney General William Barr says there were ‘serious irregularities’ at jail where Jeffrey Epstein killed himself

Attorney General William Barr said Monday that there were “serious irregularities” at the Manhattan federal jail where Jeffrey Epstein, an accused child sex trafficker, apparently killed himself over the weekend . Just a few weeks before his death, Epstein had been discovered lying semiconscious in the fetal position in his cell. Epstein was subsequently transferred to suicide watch — but outlets reported that he was taken off suicide watch just six days later. Barr also assured that Epstein’s c


Attorney General William Barr said Monday that there were “serious irregularities” at the Manhattan federal jail where Jeffrey Epstein, an accused child sex trafficker, apparently killed himself over the weekend . Just a few weeks before his death, Epstein had been discovered lying semiconscious in the fetal position in his cell. Epstein was subsequently transferred to suicide watch — but outlets reported that he was taken off suicide watch just six days later. Barr also assured that Epstein’s c
Attorney General William Barr says there were ‘serious irregularities’ at jail where Jeffrey Epstein killed himself Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: kevin breuninger
Keywords: news, cnbc, companies, epstein, william, irregularities, attorney, york, sex, serious, general, barr, federal, jail, killed, clinton, death, epsteins, suicide, case, jeffrey


Attorney General William Barr says there were 'serious irregularities' at jail where Jeffrey Epstein killed himself

The former friend of Presidents Bill Clinton and Donald Trump was being held in the Metropolitan Correctional Center pending his trial on charges of sex trafficking of minors and conspiracy to sex traffic minors.

Epstein, 66, was found Saturday morning in his jail cell in cardiac arrest and was transferred to a New York hospital, where he was pronounced dead, according to NBC News. Sources told NBC that Epstein hanged himself.

“Any co-conspirators should not rest easy,” Barr said. “The victims deserve justice and they will get it.”

Barr, who said in a statement over the weekend that he was “appalled” by Epstein’s death, also fired a warning shot to anyone who may have been involved in the wealthy financier’s alleged crimes.

“We will get to the bottom of what happened,” Barr vowed in blistering opening remarks at a police event in New Orleans, “and there will be accountability.”

Attorney General William Barr said Monday that there were “serious irregularities” at the Manhattan federal jail where Jeffrey Epstein, an accused child sex trafficker, apparently killed himself over the weekend .

Those charges were lodged by Manhattan federal prosecutors and made public last month after his arrest at a New Jersey airport, where Epstein had flown into from Paris on his private plane.

Just a few weeks before his death, Epstein had been discovered lying semiconscious in the fetal position in his cell. He reportedly had marks on his neck, raising the possibility that he had attempted to kill himself then.

Epstein was subsequently transferred to suicide watch — but outlets reported that he was taken off suicide watch just six days later. He had reportedly been alone in his cell and was not monitored by guards who were supposed to check on him every 30 minutes.

The New York Times also reported that Epstein’s cellmate had been transferred shortly before the apparent suicide, leaving him alone.

Barr, keynote speaker at the National Fraternal Order of Police’s biennial conference in New Orleans, said Epstein’s case “was very important to the Department of Justice and to me personally,” as well as to the FBI and the federal prosecutors preparing to take the case to trial.

“Most importantly, this case was important to the victims who had the courage to come forward and deserved the opportunity to confront the accused in the courtroom,” Barr said.

“I was appalled, and indeed the whole department was, and frankly angry, to learn of the MCC’s failure to adequately secure this prisoner,” Barr said.

He continued: “We are now learning of serious irregularities at this facility that are deeply concerning and demand a thorough investigation. The FBI and the Office of Inspector General are doing just that.”

Barr also assured that Epstein’s case, and the cases related to his alleged sex crimes, will continue on “against anyone who was complicit with Epstein.”

The wealthy financier was accused in the New York case of sexually abusing dozens of underage girls at his mansions on the Upper East Side of Manhattan and in Palm Beach, Florida, between 2002 and 2005. He had pleaded not guilty to the two counts against him, which carried a maximum possible sentence of 45 years if convicted.

A decade earlier, Epstein had pleaded guilty to Florida state charges of prostitution with an underage girl, which allowed him to avoid more severe federal charges.

He was sentenced to 13 months in a state prison, and was allowed out on work release for most days during his incarceration. Alex Acosta, who was the top prosecutor in Florida at that time, resigned as Trump’s Labor secretary last month amid an outcry over Epstein’s lenient plea deal.

On Friday, a federal appeals court publicly disclosed nearly 2,000 pages of documents related to Epstein that had previously been entered under seal in a case involving one of Epstein’s accusers, Virginia Giuffre, and Ghislaine Maxwell, the late money manager’s alleged procurer of underage girls.

The documents included flight records showing that Trump had flown on Epstein’s private plane in 1996; previously released flight logs showed Clinton had been on the plane multiple times.

The death of Epstein — possibly the most high-profile and highly scrutinized prisoner in the country — lit social media ablaze, fueling rampant speculation and conspiracy theories.

Trump himself retweeted a baseless conspiracy that tried to connect Clinton to Epstein’s death, despite Barr saying in a statement that it was a suicide. Lynne Patton, a senior Housing and Urban Development official, suggested on Instagram that Hillary Clinton was responsible — also without any evidence.

The New York City medical examiner performed an autopsy of Epstein, but said its determination is “pending further information at this time.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: kevin breuninger
Keywords: news, cnbc, companies, epstein, william, irregularities, attorney, york, sex, serious, general, barr, federal, jail, killed, clinton, death, epsteins, suicide, case, jeffrey


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Here’s how to get more college financial aid, without breaking the rules

As college costs explode, families are turning more desperate for financial aid. It was recently revealed that some parents took the extraordinary step of giving up legal guardianship of their children to someone else — often, a friend or relative— so their income and assets wouldn’t be calculated in their children’s need-based financial aid packages. The good news: There are plenty of above-board strategies to pick up more federal, state and university aid, Kantrowitz said. To start, financial


As college costs explode, families are turning more desperate for financial aid. It was recently revealed that some parents took the extraordinary step of giving up legal guardianship of their children to someone else — often, a friend or relative— so their income and assets wouldn’t be calculated in their children’s need-based financial aid packages. The good news: There are plenty of above-board strategies to pick up more federal, state and university aid, Kantrowitz said. To start, financial
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Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: annie nova
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Here's how to get more college financial aid, without breaking the rules

As college costs explode, families are turning more desperate for financial aid.

It was recently revealed that some parents took the extraordinary step of giving up legal guardianship of their children to someone else — often, a friend or relative— so their income and assets wouldn’t be calculated in their children’s need-based financial aid packages.

You shouldn’t do that.

“At best, this is unethical,” said Mark Kantrowitz, publisher of SavingForCollege.com. “At worst, these cases may involve fraud and perjury.”

The good news: There are plenty of above-board strategies to pick up more federal, state and university aid, Kantrowitz said.

To start, financial aid is calculated based on a family’s income for the year before last. So if you’re filling out the Fafsa, or Free Application for Federal Student Aid, for the 2020-2021 academic year this October — when the Fafsa season starts — it’s your income in 2018 that’s considered.

You should try to reduce your income while your child is applying for and attending college, Kantrowitz said.

“Avoid artificially increasing income, such as by realizing capital gains or by taking distributions from retirement plans,” he said.

Expecting a bonus at work? Try to defer it, he added.

You can also decrease your reportable assets by using any cash in the bank to pay down debt, such as auto loans and mortgages.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: annie nova
Keywords: news, cnbc, companies, college, income, kantrowitz, calculated, aid, federal, breaking, heres, try, assets, financial, rules, fafsa


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Jeffrey Epstein’s long-shot bid to get bail for child sex traffic case just got tougher because of new appeals court decision

The decision upholding a bail denial came in a criminal case in Brooklyn, New York, federal court that is unrelated to the case of Epstein, a former friend of Presidents Donald Trump and Bill Clinton. But the ruling came a week after Epstein filed his own appeal to the 2nd Circuit after a Manhattan federal judge denied his request to be released on bail of upward of $100 million. Epstein’s lawyers had told that judge he would be willing to pay for security guards to make sure he complied with a


The decision upholding a bail denial came in a criminal case in Brooklyn, New York, federal court that is unrelated to the case of Epstein, a former friend of Presidents Donald Trump and Bill Clinton. But the ruling came a week after Epstein filed his own appeal to the 2nd Circuit after a Manhattan federal judge denied his request to be released on bail of upward of $100 million. Epstein’s lawyers had told that judge he would be willing to pay for security guards to make sure he complied with a
Jeffrey Epstein’s long-shot bid to get bail for child sex traffic case just got tougher because of new appeals court decision Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: dan mangan
Keywords: news, cnbc, companies, epstein, manhattan, epsteins, panel, judge, child, security, case, defendant, federal, released, sex, jeffrey, bail, traffic, decision, court, private, tougher, longshot


Jeffrey Epstein's long-shot bid to get bail for child sex traffic case just got tougher because of new appeals court decision

U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services’ sex offender registry March 28, 2017 and obtained by Reuters July 10, 2019. New York State Division of Criminal Justice Services/Handout via REUTERS.

The long-shot effort by Jeffrey Epstein, an accused sex trafficker, to win release from jail on bail by promising to personally pay for security to monitor him got even tougher Thursday with a new federal appeals court decision, which blasted such cushy arrangements in most cases.

The ruling in the 2nd Circuit Court of Appeals “expressly” bars a “two-tier bail system” in which “wealthy defendants are released to self-funded private jails” while “defendants of lesser means are detained pending trial.”

“Such a two‐tiered system would ‘foster inequity and unequal treatment in favor of a very small cohort of criminal defendants who are extremely wealthy,’ ” the ruling by a three-judge appeals panel said.

The decision upholding a bail denial came in a criminal case in Brooklyn, New York, federal court that is unrelated to the case of Epstein, a former friend of Presidents Donald Trump and Bill Clinton.

But the ruling came a week after Epstein filed his own appeal to the 2nd Circuit after a Manhattan federal judge denied his request to be released on bail of upward of $100 million. Epstein’s lawyers had told that judge he would be willing to pay for security guards to make sure he complied with a release into home confinement.

Epstein is currently being held in a federal jail in lower Manhattan, where he was found mysteriously injured last week and later placed on suicide watch.

The appeals panel in the other case said that “if a similarly situated defendant of lesser means would be detained, a wealthy defendant cannot avoid detention by relying on his personal funds to pay for private detention.”

But the panel said there are some circumstances in which the Bail Reform Act allows a judge to release a defendant pending trial with a condition that includes the defendant paying for private armed security guards to monitor him.

Such a condition “may be appropriate where the defendant is deemed to be a flight risk primarily because of his wealth,” the panel noted.

“In other words, a defendant may be released on such a condition only where, but for his wealth, he would not have been detained.”

Epstein’s lawyer Martin Weinberg had no imediate comment on the ruling.

Epstein’s lawyers had suggested to the judge that Epstein could be released into effective house arrest at his massive Manhattan townhouse, where he and visitors could be closely monitored round the clock by private security guards that he paid for, along with an electronic tracking device.

The 66-year-old was arrested in early July after being indicted on charges of sex trafficking of underage girls, and conspiracy to commit such trafficking.

He has pleaded not guilty in the case, where prosecutors say he sexually abused dozens of teenage girls at his townhouse and mansion in Palm Beach, Florida, from 2002 through 2005.

In denying Epstein’s bail request two weeks ago, Manhattan federal Judge Richard Berman had said Epstein represented a potential danger to “new victims” from his apparently “uncontrollable” sexual fixation on young girls.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: dan mangan
Keywords: news, cnbc, companies, epstein, manhattan, epsteins, panel, judge, child, security, case, defendant, federal, released, sex, jeffrey, bail, traffic, decision, court, private, tougher, longshot


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The future of Hong Kong’s property market is looking ‘dim,’ researcher says

“If you look at Hong Kong’s property market, historically, basically when the U.S. economy catches a cold or sneezes, Hong Kong’s property market is going to catch a cold,” Ma told CNBC. The future for Hong Kong’s property market is bleak, according to a commercial real estate services researcher. Residential units are seen clustered tightly together in an apartment complex in the Quarry Bay area of Hong Kong. The real-estate sector is tracked as an indicator of the health of the wider Hong Kong


“If you look at Hong Kong’s property market, historically, basically when the U.S. economy catches a cold or sneezes, Hong Kong’s property market is going to catch a cold,” Ma told CNBC. The future for Hong Kong’s property market is bleak, according to a commercial real estate services researcher. Residential units are seen clustered tightly together in an apartment complex in the Quarry Bay area of Hong Kong. The real-estate sector is tracked as an indicator of the health of the wider Hong Kong
The future of Hong Kong’s property market is looking ‘dim,’ researcher says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: stella soon
Keywords: news, cnbc, companies, researcher, seeing, sector, looking, market, dim, recession, federal, property, economy, hong, future, kong, kongs


The future of Hong Kong's property market is looking 'dim,' researcher says

“If you look at Hong Kong’s property market, historically, basically when the U.S. economy catches a cold or sneezes, Hong Kong’s property market is going to catch a cold,” Ma told CNBC.

That “dim outlook” on the city’s property comes amid a possible U.S. recession and China -U.S. trade tensions, Denis Ma, head of research at Jones Lang LaSalle, said Tuesday.

The future for Hong Kong’s property market is bleak, according to a commercial real estate services researcher.

Residential units are seen clustered tightly together in an apartment complex in the Quarry Bay area of Hong Kong.

Property is regarded as critical to Hong Kong’s financial stability. The real-estate sector is tracked as an indicator of the health of the wider Hong Kong economy and banking sector, according to the Hong Kong Monetary Authority.

The U.S. economy is one factor that could weigh on the Hong Kong property market, said Ma.

Analysts have suggested a looming recession could befall the U.S. in the year ahead. Last week, Morgan Stanley economists said there is a “credible bear case” for a recession, and set their estimates for such a downturn at 20%.

Similarly, the Federal Reserve Bank of New York’s recession probability indicator estimated a 33% chance of a U.S. recession by June 2020.

Despite that, Federal Reserve Chairman Jerome Powell said the Fed’s 25-basis-point rate cut yesterday was not the start of a cutting cycle — as in a recession.

“When you think about rate-cutting cycles, they go on for a long time and the committee’s not seeing that. Not seeing us in that place. You would do that if you saw real economic weakness and you thought that the federal funds rate needed to be cut a lot. That’s not what we’re seeing,” Powell said.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: stella soon
Keywords: news, cnbc, companies, researcher, seeing, sector, looking, market, dim, recession, federal, property, economy, hong, future, kong, kongs


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