President Trump met with trade team at White House amid tweetstorm that rocked markets

France opens probe of possible crimes linked to Jeffrey EpsteinEpstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had… Politicsread more


France opens probe of possible crimes linked to Jeffrey EpsteinEpstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had… Politicsread more
President Trump met with trade team at White House amid tweetstorm that rocked markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: thomas franck
Keywords: news, cnbc, companies, possible, linked, jersey, rocked, trump, tweetstorm, trade, markets, presidents, plane, opens, private, house, stepped, team, white, met, president, probe


President Trump met with trade team at White House amid tweetstorm that rocked markets

France opens probe of possible crimes linked to Jeffrey Epstein

Epstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: thomas franck
Keywords: news, cnbc, companies, possible, linked, jersey, rocked, trump, tweetstorm, trade, markets, presidents, plane, opens, private, house, stepped, team, white, met, president, probe


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White House has reportedly discussed a Fed governor rotation to curb Powell’s power

The White House is reportedly discussing a variety of options to try to juice U.S. economic growth ahead of the 2020 election, including a rotation of Federal Reserve governors that would make it easier to check the power of Chairman Jerome Powell . The White House did not immediately respond to CNBC’s request for comment. The Post said White House aides do not have a firm idea of which of these policies President Donald Trump would seriously consider. Central to the president’s criticism of the


The White House is reportedly discussing a variety of options to try to juice U.S. economic growth ahead of the 2020 election, including a rotation of Federal Reserve governors that would make it easier to check the power of Chairman Jerome Powell . The White House did not immediately respond to CNBC’s request for comment. The Post said White House aides do not have a firm idea of which of these policies President Donald Trump would seriously consider. Central to the president’s criticism of the
White House has reportedly discussed a Fed governor rotation to curb Powell’s power Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: thomas franck
Keywords: news, cnbc, companies, powells, fed, rates, powell, tax, trump, rate, reportedly, governor, discussed, report, presidents, house, white, curb, power, rotation


White House has reportedly discussed a Fed governor rotation to curb Powell's power

Other ideas pitched by top economic advisors range from a currency transaction tax that could devalue the dollar and make U.S. exports less expensive as well as reducing the corporate tax rate to 15%, according to interviews with more than 25 current and former administration officials conducted by The Washington Post .

The White House is reportedly discussing a variety of options to try to juice U.S. economic growth ahead of the 2020 election, including a rotation of Federal Reserve governors that would make it easier to check the power of Chairman Jerome Powell .

The proposals come as top administration officials grow nervous about a growing number of internal reports suggesting that the American economy could pull back over the next 12 months and hamper the president’s path to reelection, the report said.

The White House did not immediately respond to CNBC’s request for comment. The report came just before Powell was set to give a major policy speech on Friday from Jackson Hole, Wyoming, where investors are hoping the Fed chief will signal further rate cuts are ahead.

The Post said White House aides do not have a firm idea of which of these policies President Donald Trump would seriously consider.

The chance to check the Fed chair’s influence over the U.S. economy could be especially enticing to Trump, who appointed Powell and has used Twitter to lambaste him for almost his entire tenure.

Central to the president’s criticism of the Fed is the level of interest rates in the U.S., which remain high when compared with those of several European countries like Germany. Trump argues that lower interest rates abroad help weaken foreign currencies and make imports more attractive to American consumers, accentuating the current U.S. trade deficit.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: thomas franck
Keywords: news, cnbc, companies, powells, fed, rates, powell, tax, trump, rate, reportedly, governor, discussed, report, presidents, house, white, curb, power, rotation


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Jay Inslee running for third term as Washington governor after leaving 2020 White House race

Jay Inslee, governor of Washington and 2020 presidential candidate, pauses while speaking during an Iowa Democratic Party Hall of Fame event in Cedar Rapids, Iowa, U.S., on Sunday, June 9, 2019. Jay Inslee on Thursday launched his bid for a third term as Washington governor after he dropped out of the 2020 Democratic presidential primary. Inslee made climate change his main issue on the campaign trail and said Thursday that he would continue to press the matter as he runs for reelection. But ult


Jay Inslee, governor of Washington and 2020 presidential candidate, pauses while speaking during an Iowa Democratic Party Hall of Fame event in Cedar Rapids, Iowa, U.S., on Sunday, June 9, 2019. Jay Inslee on Thursday launched his bid for a third term as Washington governor after he dropped out of the 2020 Democratic presidential primary. Inslee made climate change his main issue on the campaign trail and said Thursday that he would continue to press the matter as he runs for reelection. But ult
Jay Inslee running for third term as Washington governor after leaving 2020 White House race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sunny kim
Keywords: news, cnbc, companies, race, white, trail, washington, campaign, inslee, term, climate, jay, leaving, house, governor, progressive, state, presidential, stand, running


Jay Inslee running for third term as Washington governor after leaving 2020 White House race

Jay Inslee, governor of Washington and 2020 presidential candidate, pauses while speaking during an Iowa Democratic Party Hall of Fame event in Cedar Rapids, Iowa, U.S., on Sunday, June 9, 2019.

Jay Inslee on Thursday launched his bid for a third term as Washington governor after he dropped out of the 2020 Democratic presidential primary.

“We have provided the nation a road map for innovation, economic growth, and progressive action. And we’re not done yet,” Inslee said in his announcement. “I want to continue to stand with you in opposing Donald Trump and rejecting his hurtful and divisive agenda, while strengthening and enhancing Washington state’s role as a progressive beacon for the nation.”

Inslee revealed he was dropping out of the presidential race Wednesday night on MSNBC’s “The Rachel Maddow Show.” He had announced his candidacy for the White House in March.

Inslee made climate change his main issue on the campaign trail and said Thursday that he would continue to press the matter as he runs for reelection.

“Our efforts to protect Washington’s clean air and water, invest in people’s economic security, and stand up for the values of inclusivity and diversity have created thousands of clean energy jobs and made Washington state ‘the epicenter of resistance to Trump’s agenda,'” he said.

He has adopted one of the greenest agendas in the country in his home state, signing a package of bills in May 2019 that would rid Washington of its reliance on fossil fuel-generated power by 2045.

He is a co-founder of U.S. Climate Alliance, a group of governors committed to upholding the 2015 Paris Agreement on climate change.

On the campaign trail, he called for “zero emission” electricity generation across the U.S. by 2035 and for the federal government to invest $3 trillion over a decade to upgrade buildings to create “climate-smart infrastructure.” He also pledged to decline campaign contributions from the fossil fuel industry.

In June, Rep. Alexandria Ocasio-Cortez, D-N.Y., who introduced the Green New Deal resolution in the House, called Inslee’s climate change plan the “gold standard.”

But ultimately the Washington governor failed to gain traction among voters.

He stood at just 1% support in recent polls and raised just over $3 million for the presidential campaign in the second quarter, leaving him well below the top contenders.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sunny kim
Keywords: news, cnbc, companies, race, white, trail, washington, campaign, inslee, term, climate, jay, leaving, house, governor, progressive, state, presidential, stand, running


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Trump’s former press secretary Sarah Huckabee Sanders joins Fox News as a contributor

President Donald Trump speaks about the departure of Sarah Huckabee Sanders, White House press secretary, right, during a second chance hiring and re-entry initiative event in the East Room of the White House in Washington, D.C., June 13, 2019. Sanders, who left the White House in June, could appear across Fox’s media platforms, including Fox Business Network and radio and podcast programs. Ex-deputy press secretary Raj Shah became a senior vice president at Fox after he left. As press secretary


President Donald Trump speaks about the departure of Sarah Huckabee Sanders, White House press secretary, right, during a second chance hiring and re-entry initiative event in the East Room of the White House in Washington, D.C., June 13, 2019. Sanders, who left the White House in June, could appear across Fox’s media platforms, including Fox Business Network and radio and podcast programs. Ex-deputy press secretary Raj Shah became a senior vice president at Fox after he left. As press secretary
Trump’s former press secretary Sarah Huckabee Sanders joins Fox News as a contributor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kevin breuninger
Keywords: news, cnbc, companies, left, house, sanders, sarah, press, fox, trump, huckabee, contributor, president, communications, white, joins, secretary, trumps


Trump's former press secretary Sarah Huckabee Sanders joins Fox News as a contributor

President Donald Trump speaks about the departure of Sarah Huckabee Sanders, White House press secretary, right, during a second chance hiring and re-entry initiative event in the East Room of the White House in Washington, D.C., June 13, 2019.

Sanders is only the latest example of the back-and-forth job pipeline between Fox News and the Trump administration.

“FOX News has been the number one news organization in the country for 17 years running and I am beyond proud to join their incredible stable of on-air contributors in providing political insights and analysis,” Sanders said in a statement.

Sanders, who left the White House in June, could appear across Fox’s media platforms, including Fox Business Network and radio and podcast programs.

Fox News signed Sanders up as a contributor, the network said in a press release Thursday. She will make her first appearance Sept. 6 on “Fox & Friends,” the morning program frequently quoted and endorsed by the president.

Former communications director Hope Hicks became Fox Corporation’s communications chief and executive vice president after leaving the White House. Ex-deputy press secretary Raj Shah became a senior vice president at Fox after he left.

On the flip side, Bill Shine, for example, left his role as Fox News co-president to become Trump’s deputy chief of staff for communications. In March, he left the White House and joined Trump’s reelection campaign.

Sanders’ father, former Arkansas governor and Republican presidential candidate Mike Huckabee, used to host a political talk show on Fox. It ended in 2015, but Huckabee remains a frequent guest on the network. He has been a staunch Trump supporter, though he never worked for the Trump administration.

Sarah Sanders, 37, spent more than three straight years working for Trump, beginning with his 2016 presidential campaign.

She left on apparently friendly terms with the president, and has continued to vocally support him and his administration since her departure.

As press secretary, Sanders had an often-adversarial relationship with reporters covering the White House. Press events in the White House briefing room were frequently combative, as she traded barbs with reporters in defense of Trump.

Press briefings became steadily less frequent during her tenure, down to about once a month for most of 2018. They were eventually phased out altogether: By the time she left, Sanders had not led a traditional press briefing in more than 100 days.

Her successor, Stephanie Grisham, has never held a press briefing since taking over the role.

Before her promotion, Grisham was First Lady Melania Trump’s press secretary. And she still is: Grisham is now the press secretary and communications director for both Donald and Melania Trump, Grisham confirmed to CNBC at the time.

Trump’s supporters have argued that it’s better to hear from the president himself, rather than a communications aide. And Trump has indeed been more available to reporters than his predecessors in some ways. He sends messages numerous times a day from his personal Twitter account, and often stops to talk at length with reporters outside the White House before boarding the Marine One helicopter.

But critics argue his form of transparency doesn’t result in more, or better, information. He rarely holds formal press conferences — a format favored by President Barack Obama — and his appearances in front of a roaring chopper on the White House south lawn make it nearly impossible to ask nuanced questions or follow ups, Politico reported Thursday.

Trump had urged Sanders to run for governor of Arkansas when he announced her departure. “She would be fantastic,” he wrote.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kevin breuninger
Keywords: news, cnbc, companies, left, house, sanders, sarah, press, fox, trump, huckabee, contributor, president, communications, white, joins, secretary, trumps


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Larry Kudlow says there could be a tax cut before Election Day

Top White House economic advisor Larry Kudlow said Thursday that President Donald Trump could put forward a tax cut before the 2020 presidential election. “You very may well see a new rollout of additional middle-class tax relief and small-business tax relief,” Kudlow said in an interview on Fox Business Network. On Wednesday, Trump said that he’s “not looking at a tax cut now. When asked Thursday to provide more details about the possible preelection tax cut, Kudlow said, “I don’t want to get i


Top White House economic advisor Larry Kudlow said Thursday that President Donald Trump could put forward a tax cut before the 2020 presidential election. “You very may well see a new rollout of additional middle-class tax relief and small-business tax relief,” Kudlow said in an interview on Fox Business Network. On Wednesday, Trump said that he’s “not looking at a tax cut now. When asked Thursday to provide more details about the possible preelection tax cut, Kudlow said, “I don’t want to get i
Larry Kudlow says there could be a tax cut before Election Day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kevin breuninger
Keywords: news, cnbc, companies, tax, white, kudlow, washington, election, scott, day, trump, house, cut, payroll, taxes, larry


Larry Kudlow says there could be a tax cut before Election Day

Top White House economic advisor Larry Kudlow said Thursday that President Donald Trump could put forward a tax cut before the 2020 presidential election.

“You very may well see a new rollout of additional middle-class tax relief and small-business tax relief,” Kudlow said in an interview on Fox Business Network.

Kudlow stressed that “there is nothing in the near term” because “we believe the economy is quite healthy.” “But longer run, why not?” he added.

Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.

“Had a great conversation with my friend @larry_kudlow yesterday about our economy,” Scott tweeted Thursday morning.

“When we get back from recess, we should immediately start working on a plan to reduce taxes for middle-class families & workers by the amount the Treasury is collecting in tariffs,” the senator said.

In a text message, Kudlow told CNBC, “I do support the proposal” put forward by Scott in their meeting. Kudlow did not say if he had asked the president about the plan.

A spokeswoman for the Florida senator said that Scott “has not yet spoken to the president on this proposal, but is urging the Administration to start immediately cutting fees to help American families.”

Kudlow made similar comments to reporters at the White House shortly after his television interview.

Kudlow also told Fox that he still expected Chinese negotiators to meet with Trump administration officials in Washington in September to continue trade talks.

The deputies for Washington and Beijing had a “productive conference call” Wednesday, he said.

The remarks from the top economic aide came amid a week of mixed messaging from the White House about possible tax cuts and other proposals to stimulate the economy.

On Wednesday, Trump said that he’s “not looking at a tax cut now. We don’t need it.”

That statement appeared to be completely at odds with the president’s comments from just a day earlier, when he said in the Oval Office that he has “been thinking about payroll taxes for a long time.”

Less than a day before those comments, a White House official had denied that a payroll tax cut was being considered: “More tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time.”

And that denial came in response to The Washington Post’s report that White House officials have been floating a payroll tax cut as a way to head off a possible economic slowdown.

When asked Thursday to provide more details about the possible preelection tax cut, Kudlow said, “I don’t want to get in a lot of detail on this because, I don’t want to get ahead of the curve.”

But he did say that “the idea of some short-term payroll tax cut fix — it doesn’t work, it never works, it has no lasting impact.”

He added: “The personal tax rates could easily be lowered, and probably the brackets could be shrunk. That’s a thought.”

And “we might even kind of work through a way to help our friends in some of the state who are concerned about the shrinkage of the tax deductions there … the SALT taxes,” Kudlow said.

But he cautioned not to take those suggestions as promises. “I’m just — these are for examples, OK? For examples,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: kevin breuninger
Keywords: news, cnbc, companies, tax, white, kudlow, washington, election, scott, day, trump, house, cut, payroll, taxes, larry


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Trump reverses course, says he’s not considering tax cuts, because of ‘strong economy’

President Donald Trump speaks to the media as he departs the White House in Washington, DC, on August 21, 2019. A White House official first denied a report Monday that the administration would consider a payroll tax reduction. But the president backtracked on Wednesday, tamping down talk about either trimming payroll taxes or indexing capital gains to inflation. “I’m not looking at a tax cut now. We have a strong economy,” the president told reporters on the White House lawn when asked if he wo


President Donald Trump speaks to the media as he departs the White House in Washington, DC, on August 21, 2019. A White House official first denied a report Monday that the administration would consider a payroll tax reduction. But the president backtracked on Wednesday, tamping down talk about either trimming payroll taxes or indexing capital gains to inflation. “I’m not looking at a tax cut now. We have a strong economy,” the president told reporters on the White House lawn when asked if he wo
Trump reverses course, says he’s not considering tax cuts, because of ‘strong economy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: jacob pramuk
Keywords: news, cnbc, companies, tax, payroll, taxes, strong, consider, hes, trump, president, cuts, course, recession, reverses, considering, house, economy, cut, white


Trump reverses course, says he's not considering tax cuts, because of 'strong economy'

President Donald Trump speaks to the media as he departs the White House in Washington, DC, on August 21, 2019.

President Donald Trump insisted Wednesday that his administration will not cut taxes to turn aside an economic slowdown — only a day after he said he would consider tax policy changes.

It follows several days of mixed messaging from the White House on whether it would respond to growing concerns about a potential recession. Trump has spent the week arguing the U.S. has the strongest economy in the world — while urging the Federal Reserve to chop interest rates, a step typically taken during cycles of economic weakness.

A White House official first denied a report Monday that the administration would consider a payroll tax reduction. By Tuesday, Trump said he was “thinking about” cutting the levies — though he stressed that “whether or not we do something now, it’s not being done because of a recession.”

But the president backtracked on Wednesday, tamping down talk about either trimming payroll taxes or indexing capital gains to inflation. Trump’s comments continue the president and his administration’s struggle to clarify whether and how it would change U.S. tax policy in the face of recession fears.

“I’m not looking at a tax cut now. We don’t need it. We have a strong economy,” the president told reporters on the White House lawn when asked if he would consider a payroll tax cut.


Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: jacob pramuk
Keywords: news, cnbc, companies, tax, payroll, taxes, strong, consider, hes, trump, president, cuts, course, recession, reverses, considering, house, economy, cut, white


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Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it

President Donald Trump on Tuesday said he was “thinking about” cutting payroll taxes, less than a day after the White House denied that a payroll tax cut was under consideration. That denial came in response to The Washington Post’s report that White House officials have been floating a payroll tax cut as a way to head off a possible economic slowdown. When asked about the discrepancy between the official’s statement and the president’s remarks, a White House representative declined to comment.


President Donald Trump on Tuesday said he was “thinking about” cutting payroll taxes, less than a day after the White House denied that a payroll tax cut was under consideration. That denial came in response to The Washington Post’s report that White House officials have been floating a payroll tax cut as a way to head off a possible economic slowdown. When asked about the discrepancy between the official’s statement and the president’s remarks, a White House representative declined to comment.
Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: kevin breuninger jordan mcdonald, kevin breuninger, jordan mcdonald
Keywords: news, cnbc, companies, thinking, taxes, president, payroll, denies, day, hes, white, tax, word, house, trump, cut


Trump says he's 'thinking about' a payroll tax cut — a day after the White House denies it

US President Donald Trump takes part in a meeting with Romania’s President Klaus Iohannis(not shown) in the Oval Office of the White House in Washington, DC on August 20, 2019.

President Donald Trump on Tuesday said he was “thinking about” cutting payroll taxes, less than a day after the White House denied that a payroll tax cut was under consideration.

“Payroll tax is something we think about, and a lot of people would like to see that, and that very much affects the workers of our country,” Trump told reporters at the White House.

Trump went on to say that he has “been thinking about payroll taxes for a long time” — and he cautioned that “whether or not we do something now, it’s not being done because of recession.”

His remarks were at odds with a White House official’s statement to CNBC on Monday evening: “More tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time.”

That denial came in response to The Washington Post’s report that White House officials have been floating a payroll tax cut as a way to head off a possible economic slowdown.

When asked about the discrepancy between the official’s statement and the president’s remarks, a White House representative declined to comment.

The president has pushed back strongly on reports that investors fear an economic recession may be on the horizon. In a tweet Monday, he accused Democrats of “trying to ‘will’ the Economy to be bad for purposes of the 2020 Election.”

In the Oval Office on Tuesday afternoon, Trump said, “I think the word recession is a word that’s inappropriate because it’s just a word that certain people, I’m going to be kind, certain people and the media are trying to build up because they would love to see a recession. We are very far from a recession.”

But in his nearly 30-minute exchange with the press, ahead of a meeting with Romanian President Klaus Iohannis, Trump floated a number of possible ways to stimulate the economy. He slammed the Federal Reserve for raising interest rates and called for a full percentage-point cut in rates “over a period of time.”

He also discussed multiple proposals to reduce taxes, including a payroll tax cut and indexing capital-gains taxes to inflation.

“I’m not talking about doing anything at this moment, but indexing is something a lot of people have liked for a long time,” Trump said. “It is something I’m thinking about.”

If Trump attempts to pass a payroll tax cut through Congress, he’s almost certain to face strong opposition from Democrats. The 6.2% tax helps to fund social welfare programs that Democrats have vowed to protect.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: kevin breuninger jordan mcdonald, kevin breuninger, jordan mcdonald
Keywords: news, cnbc, companies, thinking, taxes, president, payroll, denies, day, hes, white, tax, word, house, trump, cut


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5 things to know before the stock market opens Monday

The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying “technically” it was more flat than inverted. Al Drago | Bloomberg | Getty ImagesTrump said he talked to Tim Cook about tariffs and Apple’s South Korean competitor Samsung. Last week, the White House delayed 10% tari


The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying “technically” it was more flat than inverted. Al Drago | Bloomberg | Getty ImagesTrump said he talked to Tim Cook about tariffs and Apple’s South Korean competitor Samsung. Last week, the White House delayed 10% tari
5 things to know before the stock market opens Monday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trade, know, dow, market, tariffs, washington, president, trump, cook, business, stock, white, opens, house, things


5 things to know before the stock market opens Monday

1. Stock futures indicate a strong open after Friday’s 307-point Dow gain

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE) on August 6, 2019. Drew Angerer | Getty Images

Dow futures were pointing to a 300-point gain at Monday’s open. The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Ahead of Monday trading, the Dow was about halfway to erasing Wednesday’s 800-point plunge. The Dow, S&P 500 and Nasdaq enter the new week with three consecutive weekly losses. The Dow and Nasdaq were more than 5% below their all-time highs in July, while the S&P 500 was 4.6% off its record. However, they’re all still up double-digit percentage points for 2019.

2. Rising bond yields ease recession fears as Trump defends the economy

National Trade Council adviser Peter Navarro, second from right, accompanied by from left, President Donald Trump, Secretary of Commerce Wilbur Ross, and Vice President Mike Pence, speaks during a signing ceremony for executive orders regarding trade in the Oval Office at the White House, Friday, March 31, 2017, in Washington. Andrew Harnik | AP

Bond yields were higher Monday morning, after hitting multiyear lows last week. The 10-year Treasury yield on Wednesday briefly dipped below the 2-year yield, an inversion that tripped a historically reliable recession signal. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying “technically” it was more flat than inverted. For a true inversion, he said on CNN, the spread would need to have been much larger.

3. Kudlow expects US to give Huawei a temporary ‘good faith’ reprieve

Larry Kudlow, director of the U.S. National Economic Council, speaks during a Bloomberg Television interview outside the White House in Washington, D.C., U.S., on Friday, Aug. 2, 2019. Andrew Harrer | Bloomberg | Getty Images

The Commerce Department is expected to extend Chinese tech giant Huawei’s licensing process for three months as a gesture of “good faith,” top Trump economic advisor Larry Kudlow told NBC’s “Meet the Press.” Later on Sunday, Trump said he does not want the U.S. to do business with Huawei, which has gotten tangled up in the U.S.-China trade war. The two nations are expected to hold face-to-face talks in Washington next month. Delegations met in Shanghai last month with little progress at resolving their disputes.

4. Apple CEO Tim Cook and Trump talk China tariffs and Samsung

U.S. President Donald Trump speaks with Tim Cook, chief executive officer of Apple Inc., during an American Workforce Policy Advisory board meeting in the State Dining Room of the White House in Washington, D.C., U.S., on Wednesday, March 6, 2019. Al Drago | Bloomberg | Getty Images

Trump said he talked to Tim Cook about tariffs and Apple’s South Korean competitor Samsung. The president said the Apple CEO made a “good case” that it would be difficult for Apple to pay tariffs when Samsung does not face the same hurdle because much of its manufacturing is in South Korea. Cook made a “very compelling argument,” Trump told reporters Sunday, revealing he and Cook had dinner on Friday evening. Last week, the White House delayed 10% tariffs on certain items, including consumer electronics such as smartphones, from next month to mid-December.

5. Shareholder value is no longer the main focus of some of America’s top business leaders

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., listens during a Business Roundtable CEO Innovation Summit discussion in Washington, D.C., U.S., on Thursday, Dec. 6, 2018. Andrew Harrer | Bloomberg | Getty Images

The Business Roundtable, a group of CEOs from major U.S. corporations, issued a statement Monday with a new definition of the “purpose of a corporation.” The re-imagined idea drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement. Jamie Dimon, chairman and CEO of J.P. Morgan Chase, is chairman of Business Roundtable.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: matthew j belvedere
Keywords: news, cnbc, companies, trade, know, dow, market, tariffs, washington, president, trump, cook, business, stock, white, opens, house, things


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White House official denies administration is looking at a payroll tax cut

President Donald Trump during a cabinet meeting at the White House July 16, 2019 in Washington, DC. Top White House officials have started to float a payroll tax cut as a potential means to stem an economic downturn, The Washington Post reported Monday. A White House official later pushed back on the report in a statement to CNBC. The Trump administration has not yet decided whether to push Congress to pass a temporary payroll tax cut, according to the newspaper. Rep. John Larson, D-Conn., has p


President Donald Trump during a cabinet meeting at the White House July 16, 2019 in Washington, DC. Top White House officials have started to float a payroll tax cut as a potential means to stem an economic downturn, The Washington Post reported Monday. A White House official later pushed back on the report in a statement to CNBC. The Trump administration has not yet decided whether to push Congress to pass a temporary payroll tax cut, according to the newspaper. Rep. John Larson, D-Conn., has p
White House official denies administration is looking at a payroll tax cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jacob pramuk
Keywords: news, cnbc, companies, tax, report, trump, house, official, administration, looking, president, post, democrats, white, recession, denies, payroll, cut


White House official denies administration is looking at a payroll tax cut

President Donald Trump during a cabinet meeting at the White House July 16, 2019 in Washington, DC.

Top White House officials have started to float a payroll tax cut as a potential means to stem an economic downturn, The Washington Post reported Monday.

A White House official later pushed back on the report in a statement to CNBC.

“As Larry Kudlow said yesterday, more tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time,” the official said.

The report comes as President Donald Trump in recent days has lashed out over media reports about growing recession fears. He has hammered into the Federal Reserve and claimed concerns about a slowdown are fueled by Democrats and a sympathetic media ahead of his 2020 reelection bid. (The bond market flashed a reliable signal of a potential recession last week).

“Our Economy is very strong, despite the horrendous lack of vision by [Chair] Jay Powell and the Fed, but the Democrats are trying to ‘will’ the Economy to be bad for purposes of the 2020 Election,” the president wrote in a tweet Monday.

The Trump administration has not yet decided whether to push Congress to pass a temporary payroll tax cut, according to the newspaper. Still, the talks show the officials around Trump have worried about the possibility of a slowdown.

It is doubtful the Democratic-controlled House would even pass a payroll tax. The 6.2% tax helps to fund Medicare and Social Security, two massive programs Democrats have repeatedly warned against altering.

Rep. John Larson, D-Conn., has proposed a plan to raise the payroll tax to keep Social Security solvent.

A survey cited by the Post found nearly 3 out of 4 economists predict a recession by 2021.

Read the full Post report here.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jacob pramuk
Keywords: news, cnbc, companies, tax, report, trump, house, official, administration, looking, president, post, democrats, white, recession, denies, payroll, cut


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Reese Witherspoon bought this Malibu farmhouse for $6.25 million—take a look inside

Actress Reese Witherspoon has added another property to her real estate portfolio. The “Big Little Lies” star bought a remodeled 1949 farmhouse in Malibu, California for $6.25 million, according to Variety. The two-acre estate, called Zuma Farms, is nestled in the foothills above Malibu’s Zuma Beach. (A spokesperson for Scott Yancey confirmed the news to CNBC Make It.) Take a look inside her Malibu farmhouse.


Actress Reese Witherspoon has added another property to her real estate portfolio. The “Big Little Lies” star bought a remodeled 1949 farmhouse in Malibu, California for $6.25 million, according to Variety. The two-acre estate, called Zuma Farms, is nestled in the foothills above Malibu’s Zuma Beach. (A spokesperson for Scott Yancey confirmed the news to CNBC Make It.) Take a look inside her Malibu farmhouse.
Reese Witherspoon bought this Malibu farmhouse for $6.25 million—take a look inside Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jade scipioni
Keywords: news, cnbc, companies, look, yancey, 625, million, malibu, house, scott, inside, estate, zuma, farmhouse, bought, reese, witherspoon, property, milliontake


Reese Witherspoon bought this Malibu farmhouse for $6.25 million—take a look inside

Actress Reese Witherspoon has added another property to her real estate portfolio. The “Big Little Lies” star bought a remodeled 1949 farmhouse in Malibu, California for $6.25 million, according to Variety.

The two-acre estate, called Zuma Farms, is nestled in the foothills above Malibu’s Zuma Beach. It includes a main house, a guest house, a horse stable and multiple outbuildings.

The compound, which Witherspoon reportedly bought in late June, was designed and previously owned by Scott and Amie Yancey of A&E’s “Flipping Las Vegas,” who used the property as a wedding venue. (A spokesperson for Scott Yancey confirmed the news to CNBC Make It.)

While Witherspoon’s primary residence is a $12.7 million mansion in Pacific Palisades in Los Angeles, the Oscar winner also owns several homes in Nashville and one in the Bahamas, according to Variety.

Take a look inside her Malibu farmhouse.

The private-gated estate features a modernized 1949 farmhouse that is surrounded by dozens of 1,500-year-old sycamores that add even more privacy.

The interior inside was designed with a mid-century modern feel.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: jade scipioni
Keywords: news, cnbc, companies, look, yancey, 625, million, malibu, house, scott, inside, estate, zuma, farmhouse, bought, reese, witherspoon, property, milliontake


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