Latest news with #FoxBusiness'
Int'l Business Times
3 days ago
- Business
- Int'l Business Times
GOP Senator Insists 'Medicaid Cuts Are Going to Strengthen Medicaid' in Defense of Trump's 'Big, Beautiful Bill'
A Republican senator defended the Trump administration's tax and domestic policy bill by stating that the cuts to Medicaid the legislation proposes will actually strengthen it. Kansas Sen. Roger Marshall appeared on Fox Business' "Mornings with Maria" where he spoke to host Maria Bartiromo about the bill. "Do you believe that you will have the votes for this package and that you will be able to identify more spending cuts by the July 4 deadline, or is it just going to take longer?" Bartiromo asked the senator. "Look, I still remain optimistic. [Senators] Ron Johnson, Rick Scott, Mike Lee, all those people and I share the same goal. On the other hand, as you mentioned, we've got folks that are afraid of the small Medicaid cuts that we made already, Medicaid cuts that are going to strengthen Medicaid and save it for those who need it the most," he began. "So we're pretty far apart, yet we have 53 Republican Senators, we have 53 opinions, we're trying to work through all that. I've been really impressed with John Thune and Mike Crapo's ability to bring everybody together. They're leading the charge right now, so I have confidence we'll get there," Marshall continued. Social media users reacted with incredulity at the senator's claim that funding cuts would actually strengthen Medicaid. "Who needs healthcare when you can have more tax breaks for billionaires, right? It's like they're playing a game of 'How much can we screw over the poor before they notice?'" wrote one user. "Sure, and starving my houseplants will make them thrive. Classic logic," another sarcastically wrote. "Cuts don't strengthen Medicaid, they shrink it and the people who pay the price aren't lobbyists. They're kids, seniors, and the disabled," one user stated. "Translation: "Sure, see if we can remove many people from Medicaid, there will be more dollars left for the few still on it, strengthening what can be done for those select chosen ones. Similar to our approach on tax breaks"," another concurred. "And we're dissolving the military and that will give us an edge on the battlefield....." one user's sarcastic comparison stated. President Donald Trump took to his social media app, Truth Social, on Monday evening in order to advocate for the bill, specifically mentioning its intended impact on Medicaid. "It will kick millions of Illegals off Medicaid, and make sure SNAP is focused on Americans ONLY! It will also restore Choice and Affordability for Car purchases by REPEALING Biden's EV Mandate, and all of the GREEN NEW SCAM Tax Credits and Spending," Trump wrote. "THE ONE, BIG, BEAUTIFUL BILL also protects our beautiful children by stopping funding for sick sex changes for minors." Originally published on Latin Times
Business Insider
3 days ago
- Business
- Business Insider
Jamie Dimon says the markets feel 'complacent' right now — and he's not optimistic about a soft landing
JPMorgan CEO Jamie Dimon said people could be in for a surprise when they realize that the market is not doing as well as they think. Dimon was speaking to Fox Business' Maria Bartiromo for an interview filmed on Friday, which aired on Monday. During the sit-down, Bartiromo asked him about his thoughts on how the markets are doing. "Complacent. Prices are high. Things are going okay. Prices are kind of working to a soft landing. I hope that's true. I just think the odds of that are lower than other people think, and that they are gonna surprise," Dimon told Bartiromo. "There's so many things moving out there, from deficits to geopolitics, to trade. It's complex, and something can go wrong. And when things do, you usually get surprised," he continued. A representative for Dimon did not respond to a request for comment from Business Insider. Dimon had made a similar warning when he spoke at the Reagan National Economic Forum on Friday. Dimon said the US is headed for a " crack in the bond market" because it "massively overdid" spending and quantitative easing during the COVID-19 pandemic. "It is going to happen," Dimon told forum attendees. "I just don't know if it's going to be a crisis in six months or six years, and I'm hoping that we change both the trajectory of the debt and the ability of market makers to make markets," he added. But Treasury Secretary Scott Bessent disagreed with Dimon. "I've known Jamie a long time and for his entire career he's made predictions like this. Fortunately, none of them have come true," Bessent said in an interview on CBS' "Face the Nation" on Sunday. "That's why he's a banker, a great banker. He tries to look around the corner," Bessent continued. House Republicans passed President Donald Trump's " big beautiful bill" on May 22. GOP lawmakers hope the bill, which is now with the Senate, will be reach Trump's desk on July 4. The Committee for a Responsible Federal Budget said the bill, in its current form, will increase the deficit by $2.5 trillion over the next 10 years. Bessent, however, said the Trump administration plans to reduce the deficit and "leave the country in great shape in 2028." "So the deficit this year is going to be lower than the deficit last year, and in two years it will be lower again. We are going to bring the deficit down slowly. We didn't get here in one year, and this has been a long process," he told CBS on Sunday. To be sure, Dimon isn't the only one who thinks the market has grown complacent. On Monday, "Big Short" investor Steve Eisman told CNBC's "Fast Money" that the market has "gotten pretty complacent" about tariffs. "I have one concern, and that's tariffs. That's it," Eisman said, adding that trade negotiations with Europe will be "incredibly complicated." "And I don't know what's going to happen with China. I just don't know how to handicap this because it's just too many balls in the air," he continued.
Yahoo
4 days ago
- Business
- Yahoo
JPMorgan CEO Jamie Dimon tells Fox Business US debt could cause bond turmoil
By Suzanne McGee and Nupur Anand NEW YORK (Reuters) -JPMorgan Chase CEO Jamie Dimon said on Monday that the rising U.S. national debt is a "big deal" that could create a "tough time" for the bond market that causes spreads to widen, he told Fox Business' "Mornings with Maria" program. The comments echo his earlier warnings about potential market turmoil, citing rising U.S. government spending. "If people decide that the U.S. dollar isn't the place to be, you could see credit spreads gap out; that would be quite a problem," Dimon said. "It hurts the people raising money. That includes small businesses, that includes loans to small businesses, includes high yield debt, includes leveraged lending, includes real estate loans. That's why you should worry about volatility in the bond market." Shifting U.S. economic policies have sent bond markets tumbling in recent weeks. Dimon, 69, is one of the most prominent voices in corporate America and has regularly been consulted by administrations during times of crisis. His name was floated for senior economic roles in government during the 2024 presidential campaign, including Treasury Secretary, but he stayed put at the bank. Dimon has been running the biggest U.S. lender for more than 19 years, outlasting many other CEOs. When asked about the timeframe for his succession, Dimon said "it's several years," adding, "there will be an appropriate time and then I may stick around for a couple of years as chairman or executive chairman... I love what I do."
Yahoo
4 days ago
- Business
- Yahoo
JPMorgan CEO Jamie Dimon tells Fox Business US debt could cause bond turmoil
NEW YORK (Reuters) -JPMorgan Chase CEO Jamie Dimon said on Monday that the rising U.S. national debt is going to create a "tough time" for the bond market and could eventually cause spreads to widen, he told Fox Business' "Mornings with Maria" program. 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
Yahoo
6 days ago
- Business
- Yahoo
Fed's Daly: April PCE inflation is a 'relief,' but incomplete, Fox Business
(Reuters) -San Francisco Federal Reserve Bank President Mary Daly said on Friday cooling inflation offers "relief" for Americans suffering from high prices, but that there are risks of higher inflation ahead. "The inflation number that printed today, that's good relief for American consumers," Daly said on Fox Business' "Maria Bartiromo's Wall Street," referring to the 2.1% rise in the personal consumption expenditure price index increase last month, the slowest annual increase in four years. 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
