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Bold Names Season 3

Bold Names Season 3

WSJ's Bold Names podcast brings you conversations with the leaders of the bold-named companies featured in the pages of The Wall Street Journal. Hosts Tim Higgins and Christopher Mims speak to CEOs and business leaders in interviews that challenge conventional wisdom and take you inside the decisions being made in the C-suite and beyond.
In the first episode of Season 3, we're joined by Rajiv Shah, president of the Rockefeller Foundation and former head of USAID. Shah has spent his career on the front lines of the fight against global poverty. That gives him unique insight into the rapidly changing world of foreign aid and philanthropy. How are NGOs attempting to fill the funding gaps left as the Trump administration turns inward?

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Bessent, Senator Warren in Heated Exchange Over Deficit
Bessent, Senator Warren in Heated Exchange Over Deficit

Bloomberg

time41 minutes ago

  • Bloomberg

Bessent, Senator Warren in Heated Exchange Over Deficit

CC-Transcript 00:00Will this bill increase or decrease the deficit? Are varying scoring on that. So will the secretary of the Treasury. So I'm asking you, what is your view? Will this bill increase or decrease the deficit? It is my view that over the ten year window, it will decrease. You know, do you have anybody who agrees with you on this? Yes. Yes. Let me let me ask my question. Okay. Every credible independent expert agrees that Trump and the Republicans big, beautiful bill would add trillions of dollars to the national debt and would not even come close to paying for itself. The nonpartisan Congressional Budget Office, the Penn Wharton budget model, and the Yale Budget Lab all agree on this, and they're looking at ten year windows. Thank you. So do the Conservative Tax Foundation and Committee for a Responsible Federal Budget. Conservative groups, even Elon Musk and The Wall Street Journal are criticizing the bill for ballooning the national debt. The only people who are saying publicly that it's not going to add to the national debt, are you Donald Trump? The Republicans in Congress. Do you have an independent group that has put forward numbers that disagrees with all of these conservative groups and disagrees with The Wall Street Journal on this? Well, Senator, interesting to see you aligned with Elon Musk. But if I you're no more shocked than I am the. If we want to take the full congressional congressional budget scoring, they predict and I don't agree with their methodology, they predict a 2.4 trillion deficit, but they show the gap. No, no, no. But may I finish? They include that. But they've also scored 2.8 trillion in tariff income. So even even in Washington, D.C., math in Washington, D.C., math, that is a 400 billion surplus. Okay. So let me make sure I understand. This bill, you admit, will increase the deficit by $2.4 trillion, but you think there will be another bill and another set of agreements that somehow materialize haven't materialized so far, don't have any statutory authority, but that will make up the difference. So the answer to the original question will this bill increase or decrease the deficit? I think you just said it will increase this bill, increases the. I want to use all the all the CBO scoring and you can't take one without the other. I don't agree with the CBO. The law that we are scoring the bill that is in front of us. We don't have a tariff bill in front of us to score. Mr. Secretary, let me go on to the second question. You've said that government spending is, quote, out of control. You have also called government spending, quote, unsustainable. In fact, in the name of fiscal responsibility, you're working with the Republicans on this big, beautiful bill to pass the biggest cuts to Medicaid and the Affordable Care Act in American history. So, Mr. Secretary, help me understand here. Why is the national debt so very important that you're trying to kick 16 million people off their health insurance? But increasing the national debt doesn't seem to matter if you're cutting taxes for billionaires and billionaire corporations. Well, first of all, a huge portion of this goes to family owned businesses that are passed through entities that are below that level. Senator. And I am sure you share my goals of Main Street prosperity. You know, I'm glad to do tax cuts for people of modest means. The question I'm asking is why does the deficit not matter to you? We're talking about knocking 16 million people off their health care. But it matters not. It does matter to you if we're knocking people off their health care, but not. Well, first of all, that figure is overstated by 5.1 million. That is amount not attributable to provisions. And do you think it's okay? It is. It is simply health care. First of all, let's set that straight. Work requirements account for 8 million of CBO's claim number. Again, we're creating the economy. So for most Americans, Terry. So you don't want to answer that? No, No, Senator, I am answering. No, you're not. And what I want is for Medicaid to be used there for mothers and children as it was meant not for 1.4 million illegal aliens, not for able bodied people, and not it's not used for people who are not documented. Mr. Chairman, I just want to say here, the part that troubles me the most is that the secretary is deeply worried about the about the deficit and is willing to knock 60 million or, as he says, nearly 11 million people off their health care matter so much. But it doesn't matter so much if you're cutting taxes for billionaires, then it's okay to run up a big deficit. I think that's wrong. For YouLive TV

Dollar Hits Multiyear Lows
Dollar Hits Multiyear Lows

Wall Street Journal

time3 hours ago

  • Wall Street Journal

Dollar Hits Multiyear Lows

The dollar sank to its weakest level in years, losing ground against the euro, Japanese yen and other currencies. The WSJ Dollar Index traded as low as 94.48, the lowest intraday level since July 2023, according to Dow Jones Market Data. That gauge and the U.S. Dollar Index were recently both on pace to settle at their lowest levels in years. The euro surged above $1.16, and was on course for its strongest end-of-day level since October 2021.

Wholesale Inflation Tamer Than Expected in May
Wholesale Inflation Tamer Than Expected in May

Yahoo

time5 hours ago

  • Yahoo

Wholesale Inflation Tamer Than Expected in May

The Producer Price Index showed that wholesale prices rose by 0.1% in May, less than economists expected, while annual wholesale price increases were in line with estimates. A consumer inflation report yesterday also showed prices weren't rising as fast as expected in response to President Donald Trump's tariff policies. Economists did see some signals of increased inflation in the report, especially in rising prices for appliances, computer equipment, machinery, and vehicle are expecting a jump in inflation from President Donald Trump's tariff policies, but once again it failed to show up in the latest pricing data. Prices at the wholesale level came in lower than expected in May. That comes after yesterday's consumer pricing data also failed to reveal an expected jump in inflation. The Bureau of Labor Statistics' Producer Price Index (PPI) showed prices rose 0.1% in May from April. Economists surveyed by The Wall Street Journal and Dow Jones Newswires expected a larger increase of 0.2%. The April reading showed wholesale prices were down 0.2% from the prior month. On an annual basis, wholesale prices in May grew by 2.6%, in line with projections by Wells Fargo economists and an increase from last month's reading of 2.4%. Core wholesale inflation, which takes out volatile food and fuel prices, also increased less than expected in May. "Concerns about widespread increases in producer prices due to tariffs continue to be dissuaded. Cheaper costs for diesel and jet fuel helped to mute the headline gains with total intermediate goods only up modestly in May," Nationwide Senior Economist Ben Ayers wrote. While price pressures continue to remain tame, economists said the report did show signs that inflation is working its way through the system following the implementation of U.S. tariffs. The report noted that prices for machinery and vehicle wholesaling jumped 2.9%, while appliances and computer equipment costs also rose in May. "The softer headline gain for the PPI in May hides much of the underlying cost pressures faced by producers. Tariff impacts are steadily flowing into prices for inputs, especially for metals, which is raising production costs for machinery and vehicles," Ayers added. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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