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    Massachusetts Sen. Elizabeth Warren plans to lobby Democratic nominee Joe Biden to be his Treasury Secretary if he wins next week’s election, Politico reported Thursday evening. “She wants it,” two Democratic officials told Politico, referring to Warren. Other possible future Treasury Secretaries include former Treasury Department official Sarah Bloom Raskin, Federal Reserve Governor Lael Brainard and former Federal Reserve vice chairman Roger Ferguson, according to Politico. (RELATED: Elizabeth Warren Once Called Joe Biden A Fake Champion Of Women) While a Secretary Warren would certainly appease progressives, who have vowed to lobby Biden to adopt a more liberal agenda, her selection would likely face resistance from moderate Democrats and Wall Street, which has warmed to the idea of a President Biden in recent weeks, the outlet reported. Warren spokeswoman Kristen Orthman declined to confirm Politico’s report, telling the outlet that they are focused on the election. “It’s 5 days out, we’re...
    Getty House Democrats are calling for another round of stimulus checks in their new $2.2 trillion proposal. Steven Mnuchin, the Treasury Secretary, says he will give ground when it comes to the amount of a second stimulus relief package. That’s the characterization of Mnuchin’s comments in a CNBC report. That could spell good news for a second round of COVID-19 stimulus checks. Or does it? Right now the wrangling between the White House and House Democrats hasn’t gotten anywhere, with countering proposals of $1.8 trillion and $2.2 trillion respectively. The checks are caught up in that debate because they’re folded into the broader stimulus relief plan that neither side agrees on. President Donald Trump did previously urge Congress to split out a second round of direct payments but so far Congress has not been willing to do that. Trump can’t get stimulus checks done on his...
    NANCY Pelosi has once again blocked a stimulus deal that would deliver $1,200 checks to Americans after a Wednesday morning clash with Treasury Secretary Mnuchin. House Speaker Pelosi's Deputy Chief of Staff, Drew Hammill revealed the news to Twitter on Wednesday afternoon. 6Nancy Pelosi has once again blocked a stimulus deal that would deliver checks to AmericansCredit: Splash News 6Americans are waiting on a second round of $1,200 stimulus relief checksCredit: Getty Images - Getty 6Speaking at a Wednesday press conference, Mnuchin, right, said: 'At this point, getting something done before the election and executing on that will be difficult'Credit: Getty Images - Getty Hammill revealed that Pelosi and Mnuchin had a phone conversation at 9.30am for about one hour. The three-part tweet read: "In response to proposals sent over the weekend, the two spent time seeking clarification on language, which was productive. "One major area of disagreement continues to...
    [The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Steven Mnuchin speaks at the Milken Institute Global Conference on Wednesday as the Trump administration makes a final push to strike a coronavirus stimulus deal with Democrats before the 2020 election. Mnuchin most recently offered House Speaker Nancy Pelosi a $1.8 trillion relief proposal as President Donald Trump, who has not directly joined the discussions, urges Congress to "go big." Pelosi has called the plan inadequate after her Democratic-held chamber passed a $2.2 trillion bill earlier this month. Meanwhile, Senate Republicans plan to vote on more limited legislation later this month as the Senate faces pressure for moving forward with Amy Coney Barrett's Supreme Court nomination while millions of Americans await aid from the government. It is still unclear what...
    The economic toll of the coronavirus pandemic is greater than the cost of all the wars waged by the United States since 2001, according to former Treasury Secretary Lawrence Summers. "The economic loss is more than twice the total monetary outlay for all the wars the US has fought since September 11, 2001, including those in Afghanistan, Iraq, and Syria," Summers, the Treasury Secretary under President Bill Clinton and a top adviser to President Barack Obama, wrote in an analysis published Tuesday with David Cutler, an economist at Harvard University. "By another metric, this cost is approximately the estimate of damages (such as from decreased agricultural productivity and more frequent severe weather events) from 50 years of climate change," the economists wrote in the analysis, published in the Journal of the American Medical Association said. They estimated the total cost of the pandemic, measured in terms of lost output...
    Playing matchmaker: The best fit for the top remaining NHL free agents The spookiest Halloween decorations on Amazon Warren Buffett phoned Treasury Secretary Hank Paulson with a stimulus idea when the 2008 financial crisis erupted. It may have saved the US economy © REUTERS/Jim Young U.S. Treasury Secretary Henry Paulson (L) shares a laugh with financier Warren Buffett, Chairman and CEO of Berkshire Hathaway, at the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007. REUTERS/Jim Young Warren Buffett phoned Treasury Secretary Hank Paulson at the height of the 2008 financial crisis with a suggestion that likely saved the US economy from an even deeper recession. The famed investor and Berkshire Hathaway CEO proposed the government plow capital directly into banks instead of only buying their distressed assets. Paulson quickly gathered the bosses of the nation's biggest banks and convinced them to accept billions of dollars...
    The Big Burn of 1910 transformed wildland firefighting. Will 2020 do the same? These are the worlds most historic restaurants Warren Buffett phoned Treasury Secretary Hank Paulson with a stimulus idea when the financial crisis erupted. It may have saved the US economy © REUTERS/Jim Young U.S. Treasury Secretary Henry Paulson (L) shares a laugh with financier Warren Buffett, Chairman and CEO of Berkshire Hathaway, at the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007. REUTERS/Jim Young Warren Buffett phoned Treasury Secretary Hank Paulson at the height of the 2008 financial crisis with a suggestion that likely saved the US economy from an even deeper recession. The famed investor and Berkshire Hathaway CEO proposed the government plow capital directly into banks instead of only buying their distressed assets. Paulson quickly gathered the bosses of the nation's biggest banks and convinced them to accept billions of...
    President Trump on Tuesday said he has instructed Republicans to pause negotiations on a coronavirus stimulus package until after the election, instructing Senate Majority Leader Mitch McConnell, R-Ky., to focus “full-time” on getting his nominee to fill the vacant seat on the U.S. Supreme Court approved. Trump said in a Twitter post that negotiations would resume after the election, at which time a bill would be passed to support small businesses and hardworking Americans. He also accused House Speaker Nancy Pelosi, D-Calif., of pushing for a $2.4 trillion package that would act as a bailout to “poorly run, high crime, Democrat States.” PELOSI, MNUCHIN HAGGLE OVER CORONAVIRUS STIMULUS PACKAGE PRICE TAG AS TALKS CONTINUE  Pelosi and Treasury Secretary Steven Mnuchin were expected to continue negotiations on Tuesday, though spending has been a sticking point between the two sides. As previously reported by FOX Business, House Democrats passed a $2.2 trillion revised HEROES...
    Democratic presidential hopefuls Massachusetts Sen. Elizabeth Warren and former Vice President Joe Biden shake hands as they arrive onstage for the third Democratic primary debate of the 2020 presidential campaign season.Frederic J. Brown | AFP | Getty Images Despite an uncertain economic outlook and a diverse array of advisors on Joe Biden's economic team, Wall Street speculators and Beltway wonks have nonetheless drummed up a list of policymakers who could play roles in a potential Biden White House. The cast ranges from progressive favorite Sen. Elizabeth Warren to equitability economist Heather Boushey. Longtime Biden confidant Jared Bernstein is also thought to be a top contender for a role, while others speculate that Federal Reserve Governor Lael Brainard could be on the short list. CNBC reached out to several economists and politicians who reportedly are advising the Biden campaign. All declined to offer comment for this story and on their interactions with...
    U.S. Treasury Secretary Steven Mnuchin speaks to reporters in the U.S. Capitol in Washington, U.S. July 29, 2020.Erin Scott | Reuters A developing plan to avoid a government shutdown at the end of the month would likely fund federal operations into December, Treasury Secretary Steven Mnuchin said Sunday.  While Mnuchin told "Fox News Sunday" that Republicans and Democrats have not reached a final agreement on spending legislation, he said he hoped Congress can start to move forward with a bill "by the end of the week." Funding will lapse after Sept. 30 if lawmakers fail to approve an appropriations package.  "For now, the most important thing is to make sure at the end of the month we don't shut down the government and we get something past the election," the Treasury secretary told Fox.  Congress returns this month from its August recess facing a long to-do list. As lawmakers stare down...
    Treasury Secretary Steve Mnuchin said Tuesday a second massive round of aid addressing the economic impact of the coronavirus pandemic is “still needed,” even as the U.S. economy is showing signs of recovery.   Mnuchin’s testimony comes as talks for a second round of aid have remained stalled on Capitol Hill since $600 a week in expanded federal unemployment benefits to millions of out-of-work Americans expired in late July.   Congressional Democrats have proposed an extension of those benefits, while Republicans have put forward a proposal that would cap benefits at 70% of a worker’s earnings. The overall price tag for a new round of aid has also divided lawmakers.  Democrats proposed as much as $3 trillion in aid, while Republicans have called for a $1 trillion package.   Republicans and Democrats differ on the speed with which Americans should return to work while balancing health concerns, as well as...
    [The stream is slated to start at 1 p.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Steven Mnuchin testifies Tuesday before the House Select Subcommittee on the Coronavirus Crisis about the federal government's support for the nation's households and businesses harmed by the disease. Mnuchin's testimony before Congress will be his first since negotiations over additional stimulus stalled between the White House and top Democratic lawmakers. While the nation's top Republicans argue that improving economic data and the already-expansive CARES Act justify a smaller subsequent relief package, Democrats contend that the GOP fails to appreciate the severity of the pandemic and its impact on Americans. White House chief of staff Mark Meadows told CNBC earlier on Tuesday that additional state and local aid from the federal government poses the biggest hurdle to a deal.  Democrats have lobbied for nearly...
    Washington (CNN)Treasury Secretary Steven Mnuchin is set to testify Tuesday before the House subcommittee investigating the federal response to the coronavirus pandemic amid an impasse over a new stimulus package to address the economic and public health fallout from the pandemic.Democrats, who are in the majority on the panel, will have an opportunity to press Mnuchin on the Trump administration's response to the pandemic and the prospects for negotiating new relief legislation as the country grapples with the devastating toll of coronavirus. A release from the panel announcing the hearing said that it will "examine the urgent need for additional economic relief for children, workers, and families, and the administration's implementation of key stimulus programs passed by Congress earlier this year." The hearing will be conducted as a hybrid of in-person and remote participation with Mnuchin and House Majority Whip Jim Clyburn, the chair of the select subcommittee on the...
    During an appearance on Fox News this week, Sen. Ted Cruz of Texas tried to fear-monger by claiming that if former Vice President Joe Biden wins in November, he will pick Sen. Elizabeth Warren for secretary of the Treasury. But what was meant to be an attack on Biden and other Democrats is being hailed as a good or excellent idea by Warren’s admirers on Twitter. On Sean Hannity’s show, video of Democrat Stacey Abrams aired in the background while Cruz declared, “If these guys win, we’re going to wake up in January with Elizabeth Warren as treasury secretary.” Ted Cruz: If these guys win, we’re going to wake up in January with Elizabeth Warren as Treasury Secretary pic.twitter.com/t8vI2Gm2nG — Acyn Torabi (@Acyn) August 19, 2020 Journalist Ed Mazza, in HuffPost, notes, “Many Twitter users didn’t see that as the threat Cruz intended, given her support of...
    U.S. Treasury Secretary Steven Mnuchin speaks to reporters in the U.S. Capitol in Washington, U.S. July 29, 2020.Erin Scott | Reuters Treasury Secretary Steven Mnuchin on Tuesday criticized top Democrats for what he categorized as stubborn tactics and refusal to discuss any "reasonable deal" to provide relief to American consumers and businesses afflicted by the Covid-19 pandemic. Wall Street had hoped that Mnuchin would support reports published on Monday evening that Senate Republicans are planning to introduce a "skinny," $1 trillion coronavirus relief bill in an effort to ease the stalemate. But the Treasury secretary failed to offer much in the way of optimism on talks with Democrats. "The good news is despite Congress not acting, because Pelosi and Schumer aren't willing to sit down and strike a reasonable deal, the president moved forward with the [executive order] to help people who are still unemployed," Mnuchin said on "Squawk on the...
    Savannah Rychcik August 14, 2020 0 Comments President Donald Trump said he is prepared to send another round of direct payments to Americans, but suggested on Friday Democrats are standing in the way. During his press briefing, a reporter asked Trump if Democrats gave in to some of his demands would he be willing to negotiate with them on the $25 billion for the postal service including the $3.5 billion for mail-in voting. “Sure, if they give us what we want and it’s not what I want it’s what the American people want,” Trump said. He added, “In addition to the executive orders that we signed, which are going to be doing terrific things in terms of a payroll tax cut, which is a lot of money coming to a lot of people very quickly. I’ve directed the Secretary of the Treasury to get ready and send direct payments, $3,400,...
    U.S. Treasury Secretary Steven Mnuchin speaks to reporters in the U.S. Capitol in Washington, U.S. July 29, 2020.Erin Scott | Reuters Treasury Secretary Steven Mnuchin spoke to CNBC on Monday after President Donald Trump tried to extend coronavirus relief measures through executive action.  The move followed the collapse of aid talks between Trump administration negotiators, Mnuchin and White House chief of staff Mark Meadows, and Democratic leaders, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer. It is unclear when discussions between the sides will resume.  This story is developing. Please check back for updates.  Subscribe to CNBC on YouTube.Related Tags Breaking News: Politics Coronavirus: Business COVID-19 White House Politics
    Washington (CNN)Treasury Secretary Steven Mnuchin said Democrats will need to be the ones to make the next move if stimulus talks between the Trump administration and congressional Democrats are to restart. He said Democratic leaders need to accept a lower amount of assistance for state and local governments."Anytime they have another offer to make, they can either call me or I'll go up and see them," Mnuchin said. "But they have to compromise.""I think we've been very clear that they need to come back with a compromise on the state and local from their trillion dollars, and the unemployment benefits, and if so we'll respond. I think the majority of the other issues, we've reached a compromise on," Mnuchin said at the White House Sunday.In an interview on "Fox News Sunday," Mnuchin said that although governors are asking for money, they do not need $1 trillion."I've also spoke to many...
    Donald Trump let Steve Mnuchin and Peter Navarro fight over the future of TikTok in a 'vicious' Oval Office 'verbal brawl' which the Treasury Secretary won convincing the president the Chinese app should be bought by Microsoft, according to anonymous sources.  People familiar with the matter told the Washington Post how the fate of the Chinese video sharing app boiled down to a shouting match in the White House between the two men.   Treasury Secretary Mnuchin argued TikTok should be sold to a US company while Trade Adviser Navarro disagreed calling for a total ban of the service on US soil, they said.   The behind the scenes fight marked the latest saga in a political back and forth over how to handle the social media giant and culminated in Trump's decision to grant a 45-day deadline for a sale to be reached before it will be banned. TikTok is ready to strike...
    Getty There will likely be a second round of COVID-19 stimulus checks. Millions of Americans are getting anxious for a second COVID-19 stimulus check. Republicans and Democrats broadly agree that people meeting certain income guidelines should receive a second check, but it never seems to come. How soon would you get a second check? First of all, it depends on the two parties reaching an agreement over the broader stimulus relief package. They’ve agreed on stimulus checks, but they’ve remained at loggerheads over other aspects of the package, such as the extension of extra $600 weekly unemployment benefits, which have expired. You won’t get a second check until the two parties agree on the broader package details, and the Senate goes into recess on August 7, so the deadline is tight, unless they extend their summer session. The generally agreed amount is $1,200 for people making under...
    Treasury Secretary Steve Mnuchin on Sunday recycled a debunked right-wing talking point to justify the GOP’s proposal to cut by more than half the $600-per-week federal boost in unemployment benefits that expired at the end of last week, depriving around 30 million Americans of a key economic lifeline as joblessness remains at historic levels. In an appearance on ABC‘s “This Week,” Mnuchin claimed “there’s no question” that the $600 weekly boost in unemployment insurance (UI) created a disincentive to work. When host Martha Raddatz pointed to a recent Yale study that found “no evidence that more generous benefits disincentivized work,” Mnuchin responded, “I went to Yale, I agree on certain things, I don’t always agree.” As a counterpoint, the Treasury Secretary cited a “Chicago study”—apparently referring to May research from the University of Chicago showing that under the $600-per-week boost, 68% of unemployed workers who were eligible for UI could have received benefits that exceeded their previous work income....
    TikTok must be sold or blocked in the United States for national security reasons, Treasury Secretary Steven Mnuchin said in the latest warning released by the Donald Trump government against the popular Chinese-owned app. Mnuchin stated on the ABC television network that TikTok simply “cannot exist as it does” currently. “I will publicly say that the entire committee agrees that TikTok cannot remain in the current format because it runs the risk of sending (to China) information on 100 million Americans,” Mnuchin alleged. The official did not comment directly on the threat made by Trump on Friday to ban in the United States the application created to share entertainment videos and which is already around one billion users worldwide. Mnuchin recalled that the Committee on Foreign Investment in the United States, which he chairs, is evaluating TikTok, especially popular with a young audience that creates and watches its short videos....
    Steven Mnuchin, U.S. Treasury secretary, speaks during a House Small Business Committee hearing on July 17, 2020 in Washington, D.C. The hearing is titled "Oversight of the Small Business Administration and Department of Treasury Pandemic Programs." Erin Scott/Pool/Getty Images Treasury Secretary Steven Mnuchin on Snday shut down the possibility of extending the $600 per week unemployment payments for Americans.  "Unemployment is supposed to be wage replacement, so it should be tied to some percentage of wage," Mnuchin said during an appearance on ABC's "This Week."   According to Trump's treasury secretary, some out of work citizens were being "overpaid" with the $600 per week payments. Mnuchin also suggested that they were hindering the return of workers to the job market.  "In certain cases where we're paying people more to stay home than to work, that's created issues in the entire economy," he said.  Visit Insider's homepage for more stories....
    House Judiciary Committee Ranking Member Jim Jordan (R-OH) on Wednesday, during a contentious exchange at a hearing, asked fellow committee member Rep. Jamie Raskin (D-MD) why his wife, a former Treasury Department official, unmasked Michael Flynn. Jordan had just finished questioning Google CEO Sundar Pichai over the search engine’s bias against conservatives and whether he would commit to not interfering in the upcoming election to help Joe Biden. After Jordan finished his questioning, Rep. Mary Gay Scanlon (D-PA) called his concerns “fringe conspiracy theories.” Jordan responded, “We have the email, there is no fringe conspiracy,” in reference to an email by a Google employee discussing steps they had taken to boost Latino voter turnout in “key states” in 2016. Subcommittee Chairman David Cicilline (D-RI) then began scolding Jordan for interrupting during Scanlon’s time to speak. Raskin then yelled to Jordan, “Put your mask on.” Jordan fired back: “Mr. Raskin, you...
    A shouting match broke out Wednesday during a House Judiciary subcommittee hearing with America’s top technology executives after Pennsylvania Democratic Rep. Mary Gay Scanlon dismissed Ohio Republican Rep. Jim Jordan’s question to Google’s CEO as “fringe conspiracy theories.” “Can you assure us today you’re not going try to silence conservatives.” Jordan asked Google CEO Sundar Pichai. The Ohio Congressman continued to grill Pichai on whether the search engine would configure their features to help former vice president Joe Biden defeat President Donald Trump in the upcoming presidential election. (RELATED: Documents Detailing Google’s ‘News Blacklist’ Show Manual Manipulation Of Special Search Results) After Jordan’s time had expired, the committee moved on to Scanlon who told the executives, “I would like to redirect your attention to antitrust law rather than fringe conspiracy theories.” Jordan responded by repeatedly interrupting the congresswoman shouting, “Mr. chairman, we have the emails this is not a fringe...
    New York (AFP) – Businesses suffering the most from the coronavirus crisis could receive a second round of financing under a federal emergency relief program, US Treasury Secretary Steven Mnuchin said Friday.He said sectors that have been especially battered such as travel and restaurants are prime candidates for another round of support under the Paycheck Protection Program, which was launched in April to provide support to smaller enterprises devastated by coronavirus shutdowns.”There should be a second check available to the businesses that are the hardest hit,” Mnuchin said in testimony be… Read More
    Treasury Secretary Steven Mnuchin told reporters at the White House he was confident that a second round of $1,200 coronavirus stimulus checks would be reaching Americans in August. At the same time, he criticized efforts to renew the $600 weekly aid for unemployed people, The Sun reports. Mnuchin was fresh out of a meeting with President Donald Trump’s chief of staff Mark Meadows, where he says he was told that the president would be supporting a bill that provided stimulus money to anyone who was eligible to receive it the first time around. He added that reducing the “ridiculous” unemployment benefits boost was slated to be reduced but extended. He said that the $600 unemployment payout, in addition to the standard payout, was incentivizing people not to work. “We’re prepared to move quickly” after the bill is passed by the House and Senate, Mnuchin said. Mnuchin reiterated that the stimulus...
    Getty When does the $600 unemployment benefit expire. The U.S. Treasury Secretary has labeled the $600 weekly unemployment benefits for COVID-19 “ridiculous.” Treasury Secretary Steven Mnuchin made the comment on July 25 after emerging from talks with GOP staff at the U.S. Capitol. They’re in negotiations over the details of a second COVID-19 relief plan for the American people. Millions of Americans were getting the extra $600 unemployment checks that were passed as emergency relief due to the COVID-19 pandemic. They’ve now expired, and people have been waiting to see whether the GOP-controlled Senate will extend the benefits. There’s good and bad news for people wanting additional checks. Mnuchin made it clear that the $600 figure isn’t going to be extended. However, he did indicate that the checks will likely be extended, just at a smaller amount. The AP reported that he said the amount...
    Getty A brand new coronavirus stimulus package deal is predicted to be launched this week. Will fewer individuals be eligible for a test? For those who’re questioning when you’re going to get that second COVID-19 stimulus test, the U.S. Treasury Secretary on July 25 unveiled a deadline, based on The Related Press: August. He additionally confirmed that the checks are prone to match the quantity individuals received final time: $1,200 for most individuals who earn below $75,000 a yr, with step by step lowering quantities as much as these pulling in $99,000 a yr, AP reported. Treasury Secretary Steve Mnuchin made the feedback after he and President Donald Trump’s chief of employees met with the employees of Republican senators on the U.S. Capitol, based on AP. Be mindful, although, that the treasury secretary doesn’t have a vote on the ultimate course of....
    Getty A new coronavirus stimulus package is expected to be released this week. Will fewer people be eligible for a check? If you’re wondering when you will get that second COVID-19 stimulus check, the U.S. Treasury Secretary on July 25 unveiled a deadline, according to The Associated Press: August. He also confirmed that the checks are likely to match the amount people got last time: $1,200 for most people who earn under $75,000 a year, with gradually reducing amounts up to those pulling in $99,000 a year, AP reported. Treasury Secretary Steve Mnuchin made the comments after he and President Donald Trump’s chief of staff met with the staff of Republican senators at the U.S. Capitol, according to AP. Keep in mind, though, that the treasury secretary doesn’t have a vote on the final process. The second relief package has to make it through a vote in...
    Treasury Secretary Steven Mnuchin said Thursday that Republicans want to give jobless Americans unemployment 'based on approximately 70 per cent wage replacement' as part of the fourth economic stimulus bill responding to the coronavirus crisis.  Mnuchin appeared Thursday morning on CNBC and then spoke to reporters at the White House.  He and White House Chief of Staff Mark Meadows are leading negotiations for the Trump administration on the new bill, with bargaining beginning in earnest this week with lawmakers on Capitol Hill.  Treasury Secretary Steven Mnuchin said Thursday on CNBC that Republicans want to replace the $600-a-week unemployment benefit with a 'approximately 70 per cent wage replacement' plan  Treasury Secretary Steven Mnuchin (pictured) and Chief of Staff Mark Meadows are leading the White House's negotiations team on the new coronavirus stimulus package. He photographed speaking to reporters Thursday morning at the White House  Steven Mnuchin confirmed to...
    Treasury Secretary Steve Mnuchin said Monday the United States will “make sure” a Covid-19 vaccine will be ready for “emergency use” by the end of 2020. “The focus is kids and jobs and vaccines,” Mnuchin told reporters in the Oval Office during a session with GOP leaders. “We are going to make sure we have a vaccine by the end of the year for emergency use.” Under section 564 of the Federal Food, Drug, and Cosmetic Act, the FDA may “allow unapproved medical products or unapproved uses of approved medical products to be used in an emergency to diagnose, treat, or prevent serious or life-threatening diseases or conditions caused by CBRN threat agents when there are no adequate, approved, and available alternatives.” Experts have questioned if a vaccine will be approved by the FDA by the end of the year after the department pulled emergency use of hydroxychloroquine on...
    (CNN) — Joe Biden should not pick Elizabeth Warren to be his Treasury secretary if he wins the White House, former Democratic Congressman Barney Frank told CNN Business. “That would be a mistake,” Frank said in an interview. Warren, a darling of the left and a fierce critic of big banks, is the “favorite” to become America’s first woman Treasury secretary in a potential Biden administration, analysts at Cowen Washington Research Group told clients in a report last month. But Frank, who worked with the Massachusetts Senator on the sweeping Dodd-Frank financial reform law that turns 10 years old this week, cautioned against a Secretary Warren because of how reviled she is on Wall Street. “The financial institutions are very negative about her, unfairly in the degree they are,” Frank said. “If you have someone who is that much opposed by the people being regulated, it doesn’t work smoothly.” Frank...
    New York (CNN Business)Joe Biden should not pick Elizabeth Warren to be his Treasury secretary if he wins the White House, former Democratic Congressman Barney Frank told CNN Business."That would be a mistake," Frank said in an interview.Warren, a darling of the left and a fierce critic of big banks, is the "favorite" to become America's first woman Treasury secretary in a potential Biden administration, analysts at Cowen Washington Research Group told clients in a report last month. Powell has been the best Trump appointee -- despite the fact Trump yells at him all the time." former Congressman Barney FrankBut Frank, who worked with the Massachusetts Senator on the sweeping Dodd-Frank financial reform law that turns 10 years old this week, cautioned against a Secretary Warren because of how reviled she is on Wall Street. "The financial institutions are very negative about her, unfairly in the degree they are," Frank...
    STEVE Mnuchin urged Congress to pass another coronavirus stimulus bill in July. Addressing the House Small Business Committee on Friday, the Treasury Secretary called on lawmakers to forgive smaller loans entirely to help out struggling businesses. Treasury Secretary Mnuchin Testifies Before House Small Business CommitteeCredit: Getty - Pool Mnuchin called on lawmakers to help out hard-hit businesses as $600 jobless payments are set to expire by the end of JulyCredit: Getty Images - Getty Mnuchin urged them to negotiate with the Trump administration to pass additional legislation by the end of the month, with a focus on struggling industries, hard-hit small businesses, and low-income families. “We are monitoring economic conditions closely,” Mnuchin said. “Certain industries, such as construction, are recovering quickly, while others, such as retail and travel, are facing longer-term impacts and will require additional relief. “We are also sensitive to the fact that certain areas of the country...
    US Treasury Secretary Steven Mnuchin is pushing for more stimulus checks and President Donald Trump is reportedly demanding payroll tax cut. The reported debate over a second coronavirus check came as another stimulus package is up for debate in the Senate. 6 The White House is reportedly fighting over how a second stimulus check would look in a next coronavirus packageCredit: Getty Images - Getty 6 US Treasury Secretary Steven Mnuchin is pushing for more stimulus checksCredit: Reuters 6 Trump is reportedly demanding a payroll tax cut in the next stimulus packageCredit: Getty Images - Getty Fox Business correspondent Charles Gasparino reported that the news network found there was "civil war" in the White House between Mnuchin and White House trade adviser Larry Kudlow. The treasury secretary is pushing for stimulus checks going directly into the pockets of Americans, and favoring extending unemployment benefits, Fox Business reported. Kudlow, meanwhile, is...
    DONALD Trump's Treasury Secretary Steven Mnuchin has said the "priority" is getting coronavirus stimulus checks passed in the next 10 days. During an interview with CNBC on Thursday, Mnuchin said he wants the legislation in place by July 20. 2 Mnuchin said passing the checks is a 'priority'Credit: Rex Features 2 The second round of checks could arrive soonCredit: Getty Images - Getty "We do support another round of economic impact payments," he said. "We're discussing the criteria with the Senate, and had a productive talk with Senate Majority Leader Mitch McConnell." He then went on to say that the Trump administration will work "on a bipartisan basis with Republicans and Democrats" on passing the bill. Mnuchin also labeled the check legislation a "priority" to have passed in the next ten days. Congress resumes on July 20, but goes on recess again from August 10 to September 7. That leaves...
    Flavor Flav and Steve MnuchinFlavor Flav / Twitter It’s tough to up the absurdity in politics in 2020, but leave it to Flavor Flav. The Public Enemy star on Thursday posted a baffling picture of himself, in his trademark giant clock chain, with a very buttoned-up Treasury Secretary Steve Mnuchin. Flav included the timeless caption, “F - - k politics — but I’m always happy to talk to anyone about the importance of knowing when your time is up. [Donald Trump] could’ve used that talk.” The photo is several years old, taken before Mnuchin joined the government. But the Treasury Sec has been making waves with the legendary wildmen of ’90s music. He got into a notorious Twitter spat with Axl Rose in May. After Axl posted, “Its official! Whatever anyone may have previously thought of Steve Mnuchin he’s officially an a**hole.” Mnuchin responded on Twitter, “What have you done for the...
    Taste Flav and Steve MnuchinTaste Flav / Twitter It’s robust to up the absurdity in politics in 2020, however go away it to Taste Flav. The Public Enemy star on Thursday posted a baffling image of himself, in his trademark big clock chain, with a really buttoned-up Treasury Secretary Steve Mnuchin. Flav included the timeless caption, “F - - ok politics — however I’m all the time completely satisfied to speak to anybody in regards to the significance of figuring out when your time is up. [Donald Trump] might’ve used that speak.” The picture is a number of years previous, taken earlier than Mnuchin joined the federal government. However the Treasury Sec has been making waves with the legendary wildmen of ’90s music. He acquired right into a infamous Twitter spat with Axl Rose in Might. After Axl posted, “Its official! No matter anybody might have beforehand considered Steve Mnuchin he’s formally an...
    Treasury Secretary Steven Mnuchin said Thursday that the Trump administration is backing another round of stimulus checks to millions of Americans as part of another coronavirus relief package. Congress has done nothing to directly help Americans since a first wave of stimulus checks went out in April, but Mnuchin said the administration is working “on a bipartisan basis with Republicans and Democrats” to get to an agreement. He said it’s a “priority” to have legislation passed by July 20. “We do support another round of economic impact payments,” Mnuchin said in an interview with CNBC. “We’re discussing the criteria with the Senate, and had a productive talk with Senate Majority Leader Mitch McConnell.” Mnuchin did not provide specific details. President Trump has expressed support for another round of stimulus checks, which he implied could be larger than the $1,200 per person that millions of Americans received this spring. Trump late last month...
    The Office of Inspector General has confirmed that the Trump administration did not delay the release of the Harriet Tubman $20 bill, as was falsely speculated by the New York Times in June 2019. The New York Times attempted to set off a political firestorm last summer in a speculatory piece, essentially accusing the Trump administration of deliberately delaying the release of the Harriet Tubman $20 bill. The Treasury Inspector General, however, found the claim to be untrue, affirming that the timeline for the $20 bill’s redesign “has remained the same since 2016.” The report reads in part: Additionally, based on Congressional interest, we reviewed the circumstances surrounding Treasury’s timeline for unveiling of a new design concept for the $20 note. We found that the former Secretary of the Treasury made an announcement in April 2016 proposing release of new $5, $10 and $20 note design concepts during 2020. This announcement was...
    Mnuchin reveals who would receive the next checks for coronavirus The Treasury secretary confirmed that there will be a second round of aid He also said when it would be delivered Mnuchin checks coronavirus. After thousands of Hispanics were left without a first coronavirus check due to their undocumented status, Treasury Secretary Steve Mnuchin said there could be a second round of aid and revealed who it would be for. Mnuchin told Congress on Tuesday that the government of President Donald Trump wants the next round of financial aid to be focused on supporting companies such as restaurants, which have been most affected by the crisis that has triggered the coronavirus pandemic. Mnuchin said he is already talking to lawmakers about approving another round of relief, which is tentatively due in late July. The Treasury secretary said those discussions included ways to use the leftover funds from the...
    MEXICO CITY -- Mexico pushed past 25,000 reported coronavirus deaths and 200,000 confirmed cases Thursday, as the treasury secretary said he tested positive and would self-isolate while working from home.The Health Department reported 6,104 newly confirmed infections, one of the highest 24-hour counts so far. That brought the country's confirmed cases to 202,951. Deaths increased by 736, bringing the total since the pandemic began to 25,060. Only Brazil and the United States have higher death tolls in the Americas.Treasury Secretary Arturo Herrera said he had only minor symptoms and planned to self-isolate as he continued to work from home. It was unclear how recently he was in close contact with President Andrés Manuel López Obrador, who refuses to use a face mask and has resumed public tours across Mexico.RELATED: Mexico begins reopening more businesses as coronavirus cases climb to 150KHerrera is the country's highest-ranking Cabinet member to be infected so...
    Coronavirus — Arturo Herrera, Secretary of the Treasury, reported that he suffers from COVID-19; he is isolated in his house Arturo Herrera, head of the Ministry of Finance and Public Credit (SHCP), reported that he suffers COVID-19. Through Twitter, the finance secretary noted that you have “Very minor symptoms” and it will remain in isolation at home. I have just been told that I tested positive for Covid19. I have very minor symptoms. From this moment I will be in quarantine, and I will continue to work from home, “said the secretary on Twitter. I have just been told that I tested positive for Covid19. I have very minor symptoms. From this moment I will be in quarantine, and I will continue to work from home. – Arturo Herrera Gutiérrez (@ArturoHerrera_G) June 25, 2020 Arturo Herrera joins the members of the Mexican government who have tested positive for...
    NFL QB rankings: Best and worst starters for 2020 Explore this abandoned old house untouched for 40 years Analysis: Elizabeth Warren could be Bidens Treasury secretary. That would be a nightmare for Wall Street © Drew Angerer/Getty Images Sen. Elizabeth Warren (D-MA), one of several Democrats running for the party's nomination in the 2020 presidential race, speaks during a campaign event, March 8, 2019 in the Queens borough of New York City. On Friday, Warren released a new regulatory proposal aimed at breaking up some of the nation's biggest technology companies, including Amazon, Google and Facebook. Warren's event on Friday evening took place less than a mile from where Amazon had previously planned to open a new headquarters in Long Island City before pulling out of the deal last month after critics said the city gave them excessive government incentives. Wall Street dodged a bullet when Elizabeth Warren's...
    MEXICO CITY (AP) — Mexico’s treasury secretary said Thursday he has tested positive for the coronavirus and will self-isolate while working from home. Arturo Herrera said he had only minor symptoms. It was unclear how recently he was in close contact with President Andrés Manuel López Obrador, who refuses to use a face mask and has resumed public tours across Mexico. Herrera is the country’s highest-ranking Cabinet member to be infected so far. Previously, the head of the Mexican Social Security Institute tested positive but later returned to work. Several state governors have also acknowledged testing positive. Mexico currently has about 196,847 confirmed coronavirus cases and has reported over 24,300 deaths. Those numbers continue to rise at near-record rates. Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    New York (CNN Business)Wall Street dodged a bullet when Elizabeth Warren's campaign for the White House fizzled out. But Warren, a fierce critic of big banks, could still play a forceful role in shaping policy in a potential Biden administration. If Joe Biden wins in November, Warren is the "favorite" to become the nation's first woman Treasury secretary, according to Cowen Washington Research Group. "We believe Warren would be an especially powerful Treasury secretary with Biden likely delegating to her primary responsibility for financial and economic policy," Jaret Seiberg, policy analyst at Cowen, wrote in a note to clients on Thursday. The potential for Warren to lead the Treasury Department underscores the sudden swing in financial policy that would likely accompany a defeat for President Donald Trump. After years of lax enforcement and light regulation -- if not outright deregulation -- big banks could once again come under tough scrutiny....
    "I think it was very prudent, what the president did," he added. "But I think we learned a lot." But Trump in fact refused to issue stay-at-home orders to close down parts of the economy, leaving it to state governors to decide whether and how to act on their own. "We've talked about it ... obviously there are some parts of the country that are in far deeper trouble than others," he said in late March. "If we do that, we will let you know, but it's pretty unlikely, I think, at this time." "You have to give a little bit of flexibility," he said on April 1. "I mean, if a state in the Midwest, or if Alaska, as an example, doesn't have a problem, it's awfully tough to say, 'Close it down.' So we have to have a little bit of flexibility." On April 10, when asked specifically...
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