Pakistan’s prime minister visits Trump, but that’s not likely to help his country’s struggling economy

President Donald Trump and the Prime Minister of the Islamic Republic of Pakistan, Imran Khan, speak to the media in the Oval Office at the White House on July 22, 2019 in Washington, DC. Pakistani Prime Minister Imran Khan’s three-day visit to the U.S. is not likely going to do much for his country’s struggling economy, a political analyst said Tuesday. The International Monetary Fund recently approved a $6 billion loan package to shore up Pakistan’s economy. He said it’s not likely that Washin


President Donald Trump and the Prime Minister of the Islamic Republic of Pakistan, Imran Khan, speak to the media in the Oval Office at the White House on July 22, 2019 in Washington, DC. Pakistani Prime Minister Imran Khan’s three-day visit to the U.S. is not likely going to do much for his country’s struggling economy, a political analyst said Tuesday. The International Monetary Fund recently approved a $6 billion loan package to shore up Pakistan’s economy. He said it’s not likely that Washin
Pakistan’s prime minister visits Trump, but that’s not likely to help his country’s struggling economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-23  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, thats, cooperation, prime, help, likely, white, imran, trump, visits, pakistan, struggling, pakistans, khan, minister, washington, economy


Pakistan's prime minister visits Trump, but that's not likely to help his country's struggling economy

President Donald Trump and the Prime Minister of the Islamic Republic of Pakistan, Imran Khan, speak to the media in the Oval Office at the White House on July 22, 2019 in Washington, DC.

Pakistani Prime Minister Imran Khan’s three-day visit to the U.S. is not likely going to do much for his country’s struggling economy, a political analyst said Tuesday.

Structural problems have hamstrung growth, and Pakistan is awash in external debt, having taken on billions of dollars in loans from countries such as China and Saudi Arabia to ease pressures on its current account.

The International Monetary Fund recently approved a $6 billion loan package to shore up Pakistan’s economy. But growth is set to slow to 2.4% in the current fiscal year — from 5.5% in the year that ended June 2018, IMF predicted.

“I imagine that one of the requests that Imran Khan and other senior officials traveling with them in Washington have asked for is some type of stepped-up U.S. support for Pakistan’s economy,” Michael Kugelman, deputy director and senior associate for South Asia at the U.S.-based Wilson Center, told CNBC’s “Street Signs. ”

He said it’s not likely that Washington will extend economic help to Pakistan yet, as there are other issues that take precedence in their bilateral dialogue — namely, Afghanistan and counter-terrorism. Instead, the U.S. is dangling the possibility of stronger trade and economic cooperation with Pakistan, if the latter were to help with the peace talks in Afghanistan and do more to crack down on terrorism within its borders, Kugelman said.

“If you look at the statement that the White House released soon before Prime Minister Khan had his meeting with Trump, there was a series of lines in the statement about how U.S. and Pakistan trade cooperation has increased in recent years, sort of like highlighting the fact that you do have this cooperation,” he said.

Kugelman added that Khan could potentially also look to the U.S. private sector to try and bring in some support to the Pakistani economy through new investments.


Company: cnbc, Activity: cnbc, Date: 2019-07-23  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, thats, cooperation, prime, help, likely, white, imran, trump, visits, pakistan, struggling, pakistans, khan, minister, washington, economy


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Sallie Krawcheck: Use this simple formula to figure out how much money you should save and spend

30% of your income goes to funNearly one-third of your money can be directed towards “fun,” such as travel and going out to eat, says Krawcheck. As research shows, how you spend is oftentimes more important than your overall income or the amount you spend in total. Money experts suggest you spend on experiences, such as trips or classes, rather than things. “All of the best psychological research on money and happiness tell us that spending money on experiences brings more (and more lasting) hap


30% of your income goes to funNearly one-third of your money can be directed towards “fun,” such as travel and going out to eat, says Krawcheck. As research shows, how you spend is oftentimes more important than your overall income or the amount you spend in total. Money experts suggest you spend on experiences, such as trips or classes, rather than things. “All of the best psychological research on money and happiness tell us that spending money on experiences brings more (and more lasting) hap
Sallie Krawcheck: Use this simple formula to figure out how much money you should save and spend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: kathleen elkins
Keywords: news, cnbc, companies, goes, tells, save, sallie, formula, simple, things, spend, money, spending, figure, krawcheck, thats, work, income


Sallie Krawcheck: Use this simple formula to figure out how much money you should save and spend

How much of your paycheck should go towards housing? What about savings? Or entertainment and vacations? While the specific answer varies from person to person, anyone can use the “50-30-20 formula” to help them figure out how much to spend and save, says Sallie Krawcheck, co-founder and CEO of Ellevest and former Wall Street executive at Morgan Stanley and Citibank. Here’s how it works.

50% of your income goes to needs

Half of your take-home pay should go towards necessities, Krawcheck tells CNBC Make It: “That’s your rent, that’s the car that you need to drive to work, that’s your work wardrobe.” This category also includes things like food, insurance and childcare.

30% of your income goes to fun

Nearly one-third of your money can be directed towards “fun,” such as travel and going out to eat, says Krawcheck. “We’re only on this earth a short amount of time,” she adds. “We need to have fun.” But think about what matters to you before spending this money. As research shows, how you spend is oftentimes more important than your overall income or the amount you spend in total. Money experts suggest you spend on experiences, such as trips or classes, rather than things. “All of the best psychological research on money and happiness tell us that spending money on experiences brings more (and more lasting) happiness than spending money on material objects,” Ron Lieber, New York Times columnist and author, tells CNBC Make It.

20% of your income goes to savings


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: kathleen elkins
Keywords: news, cnbc, companies, goes, tells, save, sallie, formula, simple, things, spend, money, spending, figure, krawcheck, thats, work, income


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Fed’s Rosengren not on board for rate cut: ‘I think we should wait’

Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can afford to be patient as long as the economy holds up. Speaking just 12 days before the Fed is expected to ease monetary policy, Rosengren said he is aware of uncertainties and downside risks but doesn’t think they’re strong enough yet to warrant the first rate reduction since late 2008 during the financial crisis. But I think w


Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can afford to be patient as long as the economy holds up. Speaking just 12 days before the Fed is expected to ease monetary policy, Rosengren said he is aware of uncertainties and downside risks but doesn’t think they’re strong enough yet to warrant the first rate reduction since late 2008 during the financial crisis. But I think w
Fed’s Rosengren not on board for rate cut: ‘I think we should wait’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jeff cox
Keywords: news, cnbc, companies, rate, thats, think, rosengren, fed, board, economy, president, strong, reduction, feds, given, cut, wait


Fed's Rosengren not on board for rate cut: 'I think we should wait'

Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can afford to be patient as long as the economy holds up.

Speaking just 12 days before the Fed is expected to ease monetary policy, Rosengren said he is aware of uncertainties and downside risks but doesn’t think they’re strong enough yet to warrant the first rate reduction since late 2008 during the financial crisis.

“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,” he told CNBC’s Sara Eisen during a “Closing Bell ” interview.

“Now, should the economy change, if the trade situation changes dramatically, if we start getting surprised by how slow China or Europe are, then that’s something we definitely should react to. But I think we should wait until we actually see the evidence that that’s happening,” Rosengren added.

That position seemingly puts him on the opposite side of Fed Chairman Jerome Powell as well as multiple other policymakers who appear inclined to approve at least a quarter-point cut at the July 30-31 Federal Open Market Committee meeting. Markets have completely priced in at least a 25 basis point reduction, with a 41% chance of a 50 basis point cut.

Rosengren joins Kansas City Fed President Esther George as the only two FOMC voters who have publicly stated they don’t see the need for a cut, at least not yet.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jeff cox
Keywords: news, cnbc, companies, rate, thats, think, rosengren, fed, board, economy, president, strong, reduction, feds, given, cut, wait


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Trump says he wasn’t happy with ‘send her back’ rally chant targeting Ilhan Omar

President Donald Trump said Thursday that he isn’t happy with his supporters’ “send her back” chant directed at progressive Rep. Ilhan Omar, D-Minn., that erupted at his North Carolina rally on Wednesday. “I was not happy with it — I disagree with it,” Trump told reporters at the White House. Instead, it shows Trump paused as the chant began, allowing his supporters to continue before he launched into further criticism of the Minnesota Democrat. So, that’s Omar. That’s Omar,” Trump said after a


President Donald Trump said Thursday that he isn’t happy with his supporters’ “send her back” chant directed at progressive Rep. Ilhan Omar, D-Minn., that erupted at his North Carolina rally on Wednesday. “I was not happy with it — I disagree with it,” Trump told reporters at the White House. Instead, it shows Trump paused as the chant began, allowing his supporters to continue before he launched into further criticism of the Minnesota Democrat. So, that’s Omar. That’s Omar,” Trump said after a
Trump says he wasn’t happy with ‘send her back’ rally chant targeting Ilhan Omar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: tucker higgins
Keywords: news, cnbc, companies, israel, rally, president, chant, white, supporters, happy, ilhan, thats, targeting, wednesdayi, trump, wasnt, send, omar


Trump says he wasn't happy with 'send her back' rally chant targeting Ilhan Omar

President Donald Trump said Thursday that he isn’t happy with his supporters’ “send her back” chant directed at progressive Rep. Ilhan Omar, D-Minn., that erupted at his North Carolina rally on Wednesday.

“I was not happy with it — I disagree with it,” Trump told reporters at the White House. Asked why he did not stop it, Trump said he thought he did.

“I started speaking very quickly,” Trump said.

Video of the event does not show the president disagreeing with his supporters. Instead, it shows Trump paused as the chant began, allowing his supporters to continue before he launched into further criticism of the Minnesota Democrat.

“She talked about the evil Israel and ‘It’s all about the Benjamins.’ Not a good thing to say. So, that’s Omar. That’s Omar,” Trump said after a pause. Omar apologized in February after she was accused of employing anti-Semitic tropes in tweets about Israel.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: tucker higgins
Keywords: news, cnbc, companies, israel, rally, president, chant, white, supporters, happy, ilhan, thats, targeting, wednesdayi, trump, wasnt, send, omar


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Facebook currency chief faces withering questioning from Democrats in Congress

Joshua Roberts | ReutersFacebook’s crypto chief David Marcus faced skepticism Wednesday from lawmakers at a House Financial Services Committee hearing on the company’s plans for the digital currency Libra. He asked Marcus if he considers Libra a security, commodity or an exchange-traded fund. GovernanceSome representatives asked Marcus about how the 27 organizations that make up Libra’s governing body alongside Facebook were chosen. Rep. Anthony Gonzalez, R-O.H., also asked Marcus how many of th


Joshua Roberts | ReutersFacebook’s crypto chief David Marcus faced skepticism Wednesday from lawmakers at a House Financial Services Committee hearing on the company’s plans for the digital currency Libra. He asked Marcus if he considers Libra a security, commodity or an exchange-traded fund. GovernanceSome representatives asked Marcus about how the 27 organizations that make up Libra’s governing body alongside Facebook were chosen. Rep. Anthony Gonzalez, R-O.H., also asked Marcus how many of th
Facebook currency chief faces withering questioning from Democrats in Congress Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: lauren feiner
Keywords: news, cnbc, companies, democrats, youre, committee, currency, withering, facebook, rep, questioning, thats, marcus, chief, faces, asked, congress, libra, financial


Facebook currency chief faces withering questioning from Democrats in Congress

David Marcus, CEO of Facebook’s Calibra, testifies to the House Financial Services Committee hearing on “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System” on Capitol Hill in Washington, July 17, 2019. Joshua Roberts | Reuters

Facebook’s crypto chief David Marcus faced skepticism Wednesday from lawmakers at a House Financial Services Committee hearing on the company’s plans for the digital currency Libra. The hearing’s tone was far more harsh than the one Marcus testified at Tuesday before the Senate Committee on Banking, Housing and Urban Affairs. Several members of congress on the House committee expressed skepticism over Facebook’s decision to delve into a digital currency and financial services before it has tackled other problems around privacy and election meddling. Rep. Brad Sherman, D-Calif., had the harshest and most absurd critique of Libra, comparing its potential consequences to the terrorist attacks on 9/11. “We’re told by some that innovation is always good,” Sherman said. “The most innovative thing that’s happened this century is when Osama bin Laden came up with the innovative idea of flying two airplanes into towers. That’s the most consequential innovation, although this may do more to endanger America than even that.” Sherman called for Facebook CEO Mark Zuckerberg to face congress and said the executive, “needs to be an advocate for privacy and so he is creating a device which will provide privacy to drug dealers, human traffickers, terrorists, tax evaders and sanctions evaders.” Other members of the committee were less dire, but they were still critical of Facebook’s plans for Libra. “This is not Silicon Valley,” Rep. Nydia Velasquez, D-N.Y., told Marcus. “You cannot work out problems as you go.” Velasquez, Chairwoman Maxine Waters, D-Calif., and Rep. Carolyn Maloney, D-N.Y., asked Marcus if he would commit to refraining from moving forward with Libra until policymakers put appropriate regulations in place. Clarifying his response, Marcus told Waters, “I committed to waiting for us to have all the appropriate regulatory approvals and have addressed all concerns before moving forward.” “That’s not a commitment,” Waters responded. Maloney asked if Marcus would commit to a pilot program to launch Libra to 1 million users with regulatory oversight. Marcus said that Facebook came out with this plan and a white paper prior to Libra’s full release in order to go through regulators. “I don’t think you should launch Libra at all because the creation of a new currency is a core government function,” Maloney said. “But at the very least you should agree to do this small pilot program first.”

‘What is a Libra?’

Lawmakers asked Marcus to clarify how to qualify Libra and the system around it. “What is a Libra?” asked ranking member Patrick McHenry, R-N.C. He asked Marcus if he considers Libra a security, commodity or an exchange-traded fund. Marcus said he does not consider Libra a security or ETF, and said it could possibly be considered a commodity. McHenry asked if Libra will be more like PayPal, of which Marcus previously served as president, or Western Union. Marcus said it would depend on the transaction, but it would usually be more akin to PayPal. Rep. Ed Perlmutter, D-Colo., also drilled down on whether Libra is more like a bank or an app like Venmo. He highlighted the tension lawmakers feel over the new currency. “We all have this same question for you and that’s the resistance you’re feeling because we think you’re a bank, but you’re not quite like a bank,” Perlmutter said. “And if you’re a bank, we regulate the heck out of you because we’ve seen a lot of people lose money where there hasn’t been regulation. So that’s the resistance that I feel, I want to support your innovation I want to support the efficiency that you people believe you’re bringing to the table. But I also don’t want anybody getting hurt here.” In response to a question from Rep. Scott Tipton, R-C.O., Marcus said the project is not planning to offer banking services, but acknowledged that banking regulation would be in order if it were. Throughout the hearing, Marcus stressed the focus of Libra is “payments” rather than banking.

Impact on the U.S. Dollar

Lawmakers also expressed concern about the impact of Libra on the strength of the U.S. dollar. “Tell me how Libra will not undermine sovereign currencies and the power of central banks. Or is the point, is the very point, to undermine central bakers and to provide greater freedom away from central banking?” Rep. Andy Barr, R-K.Y. asked. “I want to be very clear, we do not want to compete with the dollar or with sovereign currencies,” Marcus said. “This is why they make the reserve. And even in our wildest dreams, never will we come anywhere close from the size of any of the currencies that you mentioned.” Marcus did not directly answer a question from Rep. Alexandria Ocasio-Cortez, D-N.Y., asking whether currency or Libra should be a public good. The Libra white paper does claim global currency “should be designed and governed as a public good.” Rep. Michael San Nicolas, D-Guam, said he didn’t believe that Facebook had not made projections about the average value users will hold in Libra. He said the potentially vast reach could disproportionately impact the U.S. because it holds a large portion of the global gross domestic product in dollars compared to its relative population size. “That’s money that’s being sucked out of the U.S. financial system and being put into whatever this cabal is putting together in terms of Libra and Calibra,” San Nicolas said. “Once we impact disproportionately U.S. dollar demand by sucking dollars into Libras, interest rates will have to rise to attract dollar denominated investors, higher interest rates will injure the U.S. economy and U.S. jobs, higher interest rates, perhaps more importantly, will raise the financing cost of funding U.S. military operations and national security.”

Governance

Some representatives asked Marcus about how the 27 organizations that make up Libra’s governing body alongside Facebook were chosen. “Who picked the founding members of this governance over the currency?” Ocasio-Cortez asked after Marcus responded that the members were not democratically elected. “The membership is open based on certain criteria,” Marcus said. “The first 27 other companies that have joined are the companies that have shared the desire to come and build this network and solve problems.” Rep. Anthony Gonzalez, R-O.H., also asked Marcus how many of the member groups Facebook recruited to the association. Marcus only said the company approached “a wide range of companies.” Rep. Katie Porter, D-Calif., asked which agency would be in charge of regulating the 1:1 backing of the Libra’s reserve. “What’s to stop the association from changing the contents of the basket to say 100% Venezuelan bolivars at the stated exchange rate?” Porter asked. “And that would again have the effect of making the Libra currency worthless.” “That is why we believe we need the right oversight for the reserve,” Marcus said, adding that the group is working with the G7 working group to determine who will be in charge of regulation.

Other Concerns


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: lauren feiner
Keywords: news, cnbc, companies, democrats, youre, committee, currency, withering, facebook, rep, questioning, thats, marcus, chief, faces, asked, congress, libra, financial


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Fed’s Charles Evans says he’d be comfortable with ‘a couple’ rate cuts before the end of the year

Chicago Fed President Charles Evans said Tuesday that low inflation, along with economic uncertainty, indicate a need for up to two rate cuts before the end of 2019. He added that two rate cuts may not even be enough over the longer run as the Fed grapples with consistently low inflation as well as tensions over trade and a slowing global economy. In an interview with CNBC’s Steve Liesman, Evans said he would advocate multiple rate cuts, which market participants are widely expecting. “Unless I


Chicago Fed President Charles Evans said Tuesday that low inflation, along with economic uncertainty, indicate a need for up to two rate cuts before the end of 2019. He added that two rate cuts may not even be enough over the longer run as the Fed grapples with consistently low inflation as well as tensions over trade and a slowing global economy. In an interview with CNBC’s Steve Liesman, Evans said he would advocate multiple rate cuts, which market participants are widely expecting. “Unless I
Fed’s Charles Evans says he’d be comfortable with ‘a couple’ rate cuts before the end of the year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: jeff cox, laura wronski, senior research scientist, surveymonkey, jon cohen, chief research officer
Keywords: news, cnbc, companies, charles, end, inflation, economic, president, couple, evans, feds, thats, hed, cuts, fed, stronger, economy, rate, comfortable, think


Fed's Charles Evans says he'd be comfortable with 'a couple' rate cuts before the end of the year

Chicago Fed President Charles Evans said Tuesday that low inflation, along with economic uncertainty, indicate a need for up to two rate cuts before the end of 2019.

Evans spoke Tuesday at CNBC’s @Work Human Capital + Finance Conference in Chicago.

He added that two rate cuts may not even be enough over the longer run as the Fed grapples with consistently low inflation as well as tensions over trade and a slowing global economy.

In an interview with CNBC’s Steve Liesman, Evans said he would advocate multiple rate cuts, which market participants are widely expecting.

“Unless I had great reason to think that that would somehow create a lot of inflation, yes, I think that’s right,” he said. “I think on the basis of inflation alone, I could feel confident in arguing for a couple of rate cuts before the end of the year.”

This comes shortly after Fed Chairman Jerome Powell said in Paris that the central bank remains committed to sustaining the economic expansion and will “act as appropriate” to see that through. The language has generally been interpreted as a tip toward a rate cut coming at the July 30–31 Federal Open Market Committee policy meeting.

Despite generally solid economic data, markets have been looking for rate cuts to keep competitive with other easing global central banks and a raft of “uncertainties,” as Powell put it, that are cropping up at home and abroad.

Evans, who is a voting member on the FOMC this year, emphasized the importance of getting inflation to the Fed’s 2% target, which it considers healthy for a growing economy, and said he would even like to see a slight overshoot.

“In order to get inflation up to 2.25% over the next three years, I need 50 basis points of more accommodation,” he said. “Maybe that’s not quite enough. I think that would increase inflation expectations, and that would help.”

It’s not just markets that have been clamoring for a rate cut. President Donald Trump also has been pressuring the Fed to ease up on policy and has said that without the nine rate hikes since December 2015, the economy would be much stronger than even its current above-trend pace.

Evans said it’s important that the Fed remain independent from political pressure, though he conceded that the economy might be running hotter without the rate hikes.

“It would have been stronger if we hadn’t raised rates — there can be an argument for that,” he said. “We’ve gotta be very careful on how you think about it, and there’s so much going on. I think the risk-management argument is a good one.”


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: jeff cox, laura wronski, senior research scientist, surveymonkey, jon cohen, chief research officer
Keywords: news, cnbc, companies, charles, end, inflation, economic, president, couple, evans, feds, thats, hed, cuts, fed, stronger, economy, rate, comfortable, think


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How being a female tech founder prepared this CEO to fight the medical system when she got cancer

Leila Janah, a social impact entrepreneur, was diagnosed with cancer at 36 Leila JanahLeila Janah, 36, thought she was doing everything right. But in the spring, she discovered a lump that turned out to be a type of cancer called a sarcoma. Sarcomas account for about 1 percent of adult cancers, and she has a particularly rare variety that showed up in her reproductive system. For Janah, going public with her experience has helped her find both high-quality doctors and potential treatments, which


Leila Janah, a social impact entrepreneur, was diagnosed with cancer at 36 Leila JanahLeila Janah, 36, thought she was doing everything right. But in the spring, she discovered a lump that turned out to be a type of cancer called a sarcoma. Sarcomas account for about 1 percent of adult cancers, and she has a particularly rare variety that showed up in her reproductive system. For Janah, going public with her experience has helped her find both high-quality doctors and potential treatments, which
How being a female tech founder prepared this CEO to fight the medical system when she got cancer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-13  Authors: christina farr
Keywords: news, cnbc, companies, social, medical, janah, tech, health, fight, doctors, ceo, patients, share, thats, female, cancer, founder, system, prepared, access


How being a female tech founder prepared this CEO to fight the medical system when she got cancer

Leila Janah, a social impact entrepreneur, was diagnosed with cancer at 36 Leila Janah

Leila Janah, 36, thought she was doing everything right. She started two tech companies with a strong sense of social mission, and she balanced that by exercising every day, eating well and seeing the doctor for regular check-ups. The last thing she expected was a cancer diagnosis. But in the spring, she discovered a lump that turned out to be a type of cancer called a sarcoma. Sarcomas account for about 1 percent of adult cancers, and she has a particularly rare variety that showed up in her reproductive system. In the months since her diagnosis, Janah has shared her experiences as a patient on social media, despite the potential risks that come from investors and customers being aware of her health challenges. In the U.S. health care system, there are many barriers that prevent patients from accessing the treatment they need, whether it’s the cost, lack of specialists or the shortage of resources. For Janah, going public with her experience has helped her find both high-quality doctors and potential treatments, which could save her life. In a phone interview, Janah said her entrepreneurial experiences have helped her navigate the complexities of the health care system, in part because she’s had a lot of practice advocating for herself as a female founder in Silicon Valley. “I’ve had to be pushy,” Janah said. “If there’s anything this experience has taught me, it’s to not take no for an answer.”

‘I’m conditioned to trust my gut’

Before she was diagnosed, Janah had a feeling something that there was wrong. Her lump, which doctors reassured her was likely benign given her age and lack of symptoms, felt “ominous,” she said. “Because of my work with start-ups, I’m conditioned to trust my gut,” she said, as entrepreneurs are often told that their ideas lack merit, or they won’t work by people in positions of authority. “And that’s especially true when something feels wrong.” Janah insisted on further medical tests, and the results came back quickly. It was cancer. And it was rare and aggressive. So finding out sooner rather than later probably made a big difference. Another lesson learned from her entrepreneurial career was to try to get as many opinions as possible, and then bring in a team to evaluate her options. “That’s basically what you to when you’re shopping for a financing round,” she said. But she quickly hit a wall. Her doctors all offered conflicting advice, which she suspects is because her cancer is so rare that there aren’t many previous cases to draw from. Despite her best efforts, she couldn’t get them to agree to a conference call together to discuss her case. Another challenge was in pulling her medical information into one place, including charts, labs and imaging, so that she could make sure all her doctors had access to the same ground truth. That’s not surprising. Even today, it’s a laborious process for hospitals and clinics to exchange patient health information. Doctors still rely on legacy technologies, like fax machines and CD-ROMs, and their IT systems were not set up to make it easy to share data. At one point, Janah had to FedEx her imaging from California to New York because it was faster than getting two Manhattan-based hospitals to share a file. For a tech entrepreneur, that’s been a particular source of frustration. “The admin has been the hardest thing,” she said. “I’ve got two medical experts who disagree, but they can’t even share a CT scan between two different hospitals down the street from each other.”

At that point, Janah took matters into her own hands again. She saw that her busy specialists would all be attending a high-profile cancer conference, the American Society of Clinical Oncology, dubbed ASCO, in the fall. So she decided to fly out to Chicago on her own dime. She also hoped to meet with some of the executives behind a venture-backed bio-tech start-up called Epizyme. Epizyme has a drug in development called Tazemetostat, which is designed for sarcoma patients. It remains an experimental drug, meaning it has not been approved by federal regulators. Patients can access such drugs on a case-by-case basis, and it’s a hotly debated issue among bio-ethicists about whether promising therapies that are still in late-stage clinical trials should be made available. Janah’s trip was a success. She was granted access to the drug through the company’s Expanded Access Program, and she was able to get her doctors on the same page about her course of treatment. An Epizyme spokesperson declined to comment on her case, but did confirm that she met the criteria established by its policy.

Entrepreneurial patients, experimental drugs


Company: cnbc, Activity: cnbc, Date: 2019-07-13  Authors: christina farr
Keywords: news, cnbc, companies, social, medical, janah, tech, health, fight, doctors, ceo, patients, share, thats, female, cancer, founder, system, prepared, access


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56% of Americans don’t know how much they need to retire—here’s why that’s a problem

More than half (56%) of American adults don’t know how much money they’ll need to retire, according to data from Northwestern Mutual’s 2019 Planning & Progress Study. Without understanding how much money they’ll actually need, many people are failing to effectively save for retirement, Emily Holbrook, senior director of planning at Northwestern Mutual, tells CNBC Make It. Retirement doesn’t look the same for everyone and what works for your friend or neighbor may not be enough for you. “You need


More than half (56%) of American adults don’t know how much money they’ll need to retire, according to data from Northwestern Mutual’s 2019 Planning & Progress Study. Without understanding how much money they’ll actually need, many people are failing to effectively save for retirement, Emily Holbrook, senior director of planning at Northwestern Mutual, tells CNBC Make It. Retirement doesn’t look the same for everyone and what works for your friend or neighbor may not be enough for you. “You need
56% of Americans don’t know how much they need to retire—here’s why that’s a problem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: emmie martin
Keywords: news, cnbc, companies, money, know, dont, really, 56, americans, thats, holbrook, northwestern, travel, retirement, theyll, retireheres, save, planning, need, problem


56% of Americans don't know how much they need to retire—here's why that's a problem

More than half (56%) of American adults don’t know how much money they’ll need to retire, according to data from Northwestern Mutual’s 2019 Planning & Progress Study.

That’s alarming. Without understanding how much money they’ll actually need, many people are failing to effectively save for retirement, Emily Holbrook, senior director of planning at Northwestern Mutual, tells CNBC Make It.

Although there are general guidelines that detail how much you should aim to save, “it really comes down to a lot of specifics for people individually,” Holbrook says.

Retirement doesn’t look the same for everyone and what works for your friend or neighbor may not be enough for you. “You need to understand, how do you anticipate living life in retirement? Will you have expenses that go up, if you want to travel a lot, for example?” Holbrook asks. “What travel do you want to do? How does it align with what your spouse thinks about retirement plans? You need to not only have a rule of thumb, but really think through what retirement looks like to you.”


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: emmie martin
Keywords: news, cnbc, companies, money, know, dont, really, 56, americans, thats, holbrook, northwestern, travel, retirement, theyll, retireheres, save, planning, need, problem


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Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve

National Economic Council Director Larry Kudlow praised Democratic Rep. Alexandria Ocasio-Cortez on Thursday after the left-wing lawmaker urged Federal Reserve Chair Jerome Powell to keep monetary policy loose because inflation was not an issue, something that President Donald Trump and his administration have been pushing for. Why does that cause higher inflation and interest rates? By the way, that’s been my position. That’s been the president’s position. Strong growth does not cause higher in


National Economic Council Director Larry Kudlow praised Democratic Rep. Alexandria Ocasio-Cortez on Thursday after the left-wing lawmaker urged Federal Reserve Chair Jerome Powell to keep monetary policy loose because inflation was not an issue, something that President Donald Trump and his administration have been pushing for. Why does that cause higher inflation and interest rates? By the way, that’s been my position. That’s been the president’s position. Strong growth does not cause higher in
Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: fred imbert
Keywords: news, cnbc, companies, federal, higher, kudlow, ocasiocortez, reserve, trump, regarding, powell, chairman, thats, growth, does, position, finds, inflation


Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve

National Economic Council Director Larry Kudlow praised Democratic Rep. Alexandria Ocasio-Cortez on Thursday after the left-wing lawmaker urged Federal Reserve Chair Jerome Powell to keep monetary policy loose because inflation was not an issue, something that President Donald Trump and his administration have been pushing for.

“I know I’m a supply side conservative and so forth, but I want to note in the hearings yesterday with Fed Chairman Jay Powell, it was Ms. AOC who asked him about the Phillips curve,” Kudlow told Fox News on Thursday. “Why is rising growth and low unemployment bad? Why does that cause higher inflation and interest rates? Powell said ‘well, you’re right. That thing hasn’t worked in decades.'”

“I’ve got to give her high marks for that. She got that out of the chairman. By the way, that’s been my position. That’s been the president’s position. Strong growth does not cause higher inflation,” Kudlow said, adding he would like to discuss “supply-side economics” with Ocasio-Cortez in the future.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: fred imbert
Keywords: news, cnbc, companies, federal, higher, kudlow, ocasiocortez, reserve, trump, regarding, powell, chairman, thats, growth, does, position, finds, inflation


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Fed’s Powell says US homebuilders hit by ‘a perfect storm’ of Trump’s immigration policy, tariffs

Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials. Powell replied, “That’s what we hear from homebuilders. The homebuilders feel almost like they’ve been hit by a perfect storm here.” The lack of sufficient home construction, especially at affordable price points, has led to a severe housing shortage


Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials. Powell replied, “That’s what we hear from homebuilders. The homebuilders feel almost like they’ve been hit by a perfect storm here.” The lack of sufficient home construction, especially at affordable price points, has led to a severe housing shortage
Fed’s Powell says US homebuilders hit by ‘a perfect storm’ of Trump’s immigration policy, tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: diana olick
Keywords: news, cnbc, companies, tariffs, construction, hit, immigration, perfect, shortage, labor, policy, smith, powell, storm, housing, hear, thats, feds, trumps, especially, homebuilders


Fed's Powell says US homebuilders hit by 'a perfect storm' of Trump's immigration policy, tariffs

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 11, 2019.

Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials.

In response to questioning from Sen. Tina Smith, D-Minn., Powell said, “What we hear from the homebuilders is that it’s a series of factors that are holding them back and challenging affordability.”

He pointed to the fact that thousands of skilled workers left the construction industry following the housing crash that began in 2008 and never returned.

“Now you have a shortage of skilled labor, so it’s hard to get people on the job, electricians, plumbers, carpenters and other people. No matter what you pay them, just finding people to do that work,” said Powell.

Smith responded, “Would you say our immigration policy might have something to do with that?”

Powell replied, “That’s what we hear from homebuilders. That’s part of it for sure.”

Then he added, “Material costs too have gone up, and some of that is tariffs for sure. The homebuilders feel almost like they’ve been hit by a perfect storm here.”

Builders, especially in the south and west, rely on immigrant labor, much of it from Mexico. The Trump administration’s tough stance on immigration has hit construction employers hard.

“It’s really across the entire labor force, I mean some of the stats are staggering,” said Sheryl Palmer, CEO of Arizona-based homebuilder Taylor Morrison, at a recent CNBC Capital Exchange conference. “We’ve lost productivity, and we haven’t brought new kids into the system because it’s not this career that folks are aspiring to have, and for all those reasons, we just can’t physically solve the problem because we just can’t get them [houses] built.”

Single-family housing starts have been unimpressive so far this year. In May, they fell 6.4% compared with April and were 12.5% lower compared with May 2018, according to the U.S. Census.

The lack of sufficient home construction, especially at affordable price points, has led to a severe housing shortage. That shortage continues to inflate home prices, keeping would-be first-time buyers on the sidelines. Rents are now rising at a fast clip, as occupancy is unexpectedly high in both apartment buildings and single-family rental properties.

“What I hear from businesses and communities, especially in rural Minnesota but really all over the state, is that the lack of workforce housing, affordable housing for people who have good jobs is actually a real limit on economic growth,” said Smith.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: diana olick
Keywords: news, cnbc, companies, tariffs, construction, hit, immigration, perfect, shortage, labor, policy, smith, powell, storm, housing, hear, thats, feds, trumps, especially, homebuilders


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