Latest news with #MorningswithMaria
Yahoo
2 days ago
- Business
- Yahoo
JPMorgan to let clients use spot Bitcoin ETFs as loan collateral
JPMorgan to let clients use spot Bitcoin ETFs as loan collateral originally appeared on TheStreet. JPMorgan Chase is reportedly gearing up to accept spot Bitcoin ETFs as collateral for loans — a move that could open the floodgates for more crypto-backed lending on Wall Street. According to a June 4 report by Bloomberg, the bank plans to roll out the program within its trading and wealth management divisions. The initial focus will be on BlackRock's iShares Bitcoin Trust (IBIT), but sources say other spot Bitcoin ETFs will likely be included over time. JPMorgan's move comes as President Donald Trump has set a course to deregulate finance, and there are fewer obstacles to using crypto in banking and lending since his re-election. JPMorgan has previously accepted crypto ETF holdings as collateral on a case-by-case basis. But this new framework would significantly expand that, treating crypto ETFs more like traditional assets when calculating a client's net worth — similar to how stocks, real estate, or luxury assets are assessed. This means wealthy clients holding large amounts of Bitcoin via ETFs could see their borrowing power increase substantially. Bloomberg also noted that JPMorgan is beginning to formally consider crypto exposure as part of overall net worth calculations. The move comes just days after JPMorgan CEO Jamie Dimon made headlines with a notable shift in tone. In a June 2 appearance on Mornings with Maria on Fox Business, Dimon — long known for his criticism of Bitcoin — said he supports financial deregulation and warned of a potential bond crisis reminiscent of the COVID-19 era. While he hasn't exactly become a Bitcoin bull, Dimon has previously defended people's 'right to buy' crypto. JPMorgan to let clients use spot Bitcoin ETFs as loan collateral first appeared on TheStreet on Jun 4, 2025 This story was originally reported by TheStreet on Jun 4, 2025, where it first appeared. 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
2 days ago
- Business
- Yahoo
High US debt will let bond market ‘run the country': GOP congressman
Rep. David Schweikert (R-Ariz.) said Wednesday that the growing U.S. national debt will make the government more vulnerable to being pressured by the bond market, allowing it to effectively 'run the country.' 'Look, we're on the cusp of deciding that the world debt markets will run the country. I mean, let's be brutally honest. I don't think the equity markets are as good a tell,' Schweikert, who sits on the House Ways and Means Committee, said during The Hill's 'Invest in America' event Wednesday. 'It's bond markets and debt markets,' he added. In recent weeks, some business leaders have expressed similar concerns, stating that the government's budget deficits and rising debt are issues that will rattle bond markets down the line. 'It's a big deal, you know it is a real problem, but one day … the bond markets are going to have a tough time. I don't know if it's six months or six years,' JPMorgan Chase CEO Jamie Dimon said during a Monday interview with Fox Business Network's 'Mornings with Maria.' 'The real focus should be growth, probusiness, proper deregulation, permitting reform, getting rid of blue tape, getting skills in schools, get that growth going — that's the best way,' Dimon said. The bond market has experienced a period of fluctuations since early April as President Trump rolled out his tariffs aimed at both allies and adversaries. Trump's 'big, beautiful bill,' which passed the House last month, has also shaken the financial markets given the trillions of dollars it is expected to add to the debt. Bond traders have grown concerned about the pressure higher U.S. debt could put on interest rates, and Trump has cited bond market turmoil as a reason behind his April decision to ease many of his 'Liberation Day' tariffs. The yield on the 30-year Treasury was north of 5.1 percent last week and was trading around 4.9 percent Wednesday. Schweikert said Wednesday that demographics are the 'driver' of the country's debt. Trump's massive legislative package includes an extension of the president's 2017 tax cuts, although the legislation could add $2.4 trillion to the U.S.'s deficit over the next 10 years, the new estimate from the Congressional Budget Office (CBO) said. Schweikert, a fiscal hawk, voted for the legislation, but he has said that he has concerns about the package. 'I'm intensely concerned that if the term premium on interest rates continues to either stay where it's at right this moment or expand, almost every bit of good we're doing with adding expensing, research and development expensing, many of these things will be consumed in the economy with higher interest rates,' the Arizona Republican said. 'There's this game of, well, 'I need to make people happy right now,'' Schweikert said on Wednesday. 'But the reality of it is, unless you're convincing the bond markets and the fact that how much borrowable money is in the world, when Germany's back in the debt markets, you see what's going on along and under the curve in Japan, China's actually still binging on debt. We seem to be avoidant of big-boy economics.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
2 days ago
- Business
- The Hill
High US debt will let bond market ‘run the country': GOP congressman
Rep. David Schweikert (R-Ariz.) said Wednesday that the growing U.S. national debt will make the government more vulnerable to being pressured by the bond market, allowing it to effectively 'run the country.' 'Look, we're on the cusp of deciding that the world debt markets will run the country. I mean, let's be brutally honest. I don't think the equity markets are as good a tell,' Schweikert, who sits on the House Ways and Means Committee, said during The Hill's 'Invest in America' event Wednesday. 'It's bond markets and debt markets,' he added. In recent weeks, some business leaders have expressed similar concerns, stating that the government's budget deficits and rising debt are issues that will rattle bond markets down the line. 'It's a big deal, you know it is a real problem, but one day … the bond markets are going to have a tough time. I don't know if it's six months or six years,' JPMorgan Chase CEO Jamie Dimon said during a Monday interview with Fox Business Network's 'Mornings with Maria.' 'The real focus should be growth, pro-business, proper deregulation, permitting reform, getting rid of blue tape, getting skills in schools, get that growth going — that's the best way,' Dimon said.. The bond market experienced a period of fluctuations since early April as President Trump rolled out his tariffs aimed at both allies and adversaries. Trump's 'Big, Beautiful Bill,' which passed the House last month, has also shaken the financial markets given the trillions of dollars it is expected to add to the debt. Bond traders have grown concerned about the pressure higher U.S. debt could put on interest rates, and Trump has cited bond market turmoil as a reason behind his April decision to ease many of his Liberation Day tariffs. The yield on the 30-year was north of 5.1 percent last week and was trading around 4.9 percent Wednesday. Schweikert said on Wednesday that demographics is the 'driver' of the country's debt. Trump's massive legislative package includes the extension of the president's 2017 tax cuts, although the legislation could add $2.4 trillion to the U.S.'s deficit over the next 10 years, the new estimate from the Congressional Budget Office (CBO) said. Schweikert, a fiscal hawk, voted for the legislation, but has said that he has concerns about the package. 'I'm intensely concerned that if the term premium on interest rates continues to either stay where it's at right this moment or expand, almost every bit of good we're doing with adding expensing, research and development expensing, many of these things will be consumed in the economy with higher interest rates,' the Arizona Republican said. 'There's this game of, well, 'I need to make people happy right now,'' Schweikert said on Wednesday. 'But the reality of it is, unless you're convincing the bond markets and the fact that how much borrowable money is in the world, when Germany's back in the debt markets, you see what's going on along and under the curve in Japan, China's actually still binging on debt. We seem to be avoidance of big-boy economics.'
Int'l Business Times
2 days ago
- Business
- Int'l Business Times
Elon Musk 'Wasn't Helpful' in His Criticism of Trump's 'Big, Beautiful Bill', Republican Lawmaker Says
A Republican Representative has called billionaire Elon Musk's sentiments towards the GOP spending bill "unhelpful", further stating that Musk's criticism was "disappointing" for the party. Kentucky Representative James Comer appeared on the Fox News show Mornings with Maria in conversation with host Maria Bartiromo on Wednesday, where he talked about Musk's censure of the bill. "I want to support President Trump and his agenda. The big, beautiful bill is that. So it's disappointing that Elon Musk said what he said. It wasn't helpful. But at the end of the day, I don't think it's going to sway very much influence," said Representative Comer. "We're focused on passing President Trump's agenda. I'm confident that there are enough Senators that will pass that bill out of the Senate and hopefully we can agree to the changes they make, and get President Trump his first major legislative victory of his second term," he continued. Social media users promptly took to online platforms to criticize Comer for seemingly expecting helpfulness from Musk's criticism. "Maybe if you passed better bills, Elon Musk wouldn't have any issues," said one user. Maybe if you passed better bills, Elon Musk wouldn't have any issues. — Red Alert Florida (@RedAlertFlorida) June 4, 2025 "It's disappointing that someone pointed out true things about our bill we didn't read," mocked another. 'It's disappointing that someone pointed out true things about our bill we didn't read' — Kevin D. Water Law (@docKev_) June 4, 2025 "So is he wrong? He's trying to get your attention," wrote a third user. So is he wrong? He's trying to get your attention. — Howell Ellerman (@howellsacto) June 4, 2025 "Disagreement is fine but silencing valid concerns helps no one. Let's debate, not dismiss," said a fourth user. Disagreement is fine but silencing valid concerns helps no one. Let's debate, not dismiss. — Press Crate (@presscrate) June 4, 2025 "Wasn't helpful to WHO?!?!" questioned a fifth. Wasn't helpful to WHO?!?! — FLOPHEADS_GONNA_FLOP (@flopheads_gonna) June 4, 2025 Musk took to his social media platform, X (formerly Twitter), on Tuesday and posted some intense criticism of the bill. "I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination," wrote the world's wealthiest man. "Shame on those who voted for it: you know you did wrong. You know it," the Tesla CEO wrote. Originally published on Latin Times Elon musk Donald trump Congress
New York Post
2 days ago
- Business
- New York Post
Relief could be coming to lower high meat prices across US: expert
Meat prices remain higher across the country, with staples like steak, chicken, and ground beef still costing significantly more than they did a year ago. But one industry leader believes relief could be coming for shoppers, though not immediately. 'The number of head of cattle in the United States is at a low really not seen since the 1950s,' said Nate Rempe, president and CEO of Omaha Steaks, on 'Mornings with Maria.' 'That supply pressure is really putting a lot of upward pressure on price, especially as demand is still so strong in the U.S.' According to the Bureau of Labor Statistics, meat prices have increased year-over-year with steak up 7%, ground beef 10%, chicken nearly 3%, and ham over 4%. Rempe believes the issue goes beyond tariffs and trade policy. 'Supply is a tricky issue. You can't just flip a switch, adjust a tariff,' he said. 'We need to rebuild the herd. And that's [going to] happen over the next roughly 12 months.' The American cattle herd hit historic lows this year, according to the U.S. Department of Agriculture. The latest USDA report shows a multi-year pattern of decline in the number of cows and heifers. At the same time, new tariffs imposed by the Trump administration are complicating the market. 3 The U.S. imports a large amount of meat from Canada and Mexico, two countries affected by recent trade changes. AFP via Getty Images The U.S. imports a large amount of meat from Canada and Mexico, two countries affected by recent trade changes. Despite the uncertainty, Rempe predicts the market may begin to stabilize next year as ranchers focus on growing herds. 'My guess is by Q3 26, we'll kind of start to come out of this,' he said. While acknowledging the short-term strain of tariffs, Rempe also expressed support for efforts to renegotiate trade deals. 3 Meat prices have increased year-over-year with steak up 7%, ground beef 10%, chicken nearly 3%, and ham over 4%. Mornings with Maria / Fox News 'I like exports. I like what it does for the industry and for the country,' he said. 'Foreign buyers tend to pay more for beef. That's good for meat packers and for ranchers… but we do have to balance.' The beef cattle industry supports over a million jobs, Rempe noted, but warned that supply must catch up with demand. 'America loves beef, and you know that's something I definitely love,' he said. 'But we have to have the supply to do that, and we've got some work to do.' Fifth-generation cattle rancher Steve Lucie echoed Rempe's sentiment earlier this year. Speaking on 'America Reports,' Lucie encouraged ranchers to 'remain calm' amid market uncertainty. 'We've been through so many ups and downs in our country, and especially in my industry,' he said. 'Farmers and ranchers every day, we deal with commodity price fluctuation. So, this doesn't bother us.' 3 The latest USDA report shows a multi-year pattern of decline in the number of cows and heifers. Christopher Sadowski Though he acknowledged the tariffs might bring short-term pain, Lucie believes they're a step toward creating a more level playing field for the industry. 'I don't think any of us know what's [going to] happen with these tariffs,' he said. 'But what we do know for a fact is that the American beef industry has been on the short end for a long time.'
