Jamie Dimon talks tariffs: ‘Get over it’
Former President Reagan economist Art Laffer is weighing in on President Trump's controversial economic plan to impose 25% tariffs on Mexico and Canada starting February 1st. JPMorgan Chase & Co. CEO Jamie Dimon said in a new interview that any slight increase in inflation caused by the Trump administration's tariff plans is worth meeting national […]
Samsung weighs relocating dryer production to US in response to Trump tariffs
Libby Cantrill, head of U.S. public policy at Pimco, told Barron's Roundtable that she expects President-elect Trump to accomplish this on his first day in office. South Korea's Samsung Electronics and at least one other consumer electronics maker are considering moving some operations from factories in Mexico to factories in the United States. The review […]
Costco Teamsters vote to authorize strike
Gerald Store, CEO of Store Advisors and former Toys R Us and Target executive, reacts to November's strong retail report and explains how the industry's winners are “value-based” players. Costco's 18,000 Teamsters are preparing to go on strike if they are not presented with a “fair contract offer” by the end of the month. According […]
Trump talked to Apple CEO Tim Cook, investment coming
President-elect Trump spoke with Apple CEO Tim Cook, who announced at Sunday's Make America Great Again victory rally that Cook plans to follow DAMAC and SoftBank in investing in the United States. He said that President-elect Trump said he spoke with Apple CEO Tim Cook on the eve of his inauguration and hinted at a […]
LA wildfires drive surge in rental housing prices, prompting price gouging concerns
More than 15,000 people are participating in firefighting efforts across Southern California. The devastating wildfires that have ravaged the Los Angeles area in recent weeks have further constrained an already tight housing market, spurring rental prices to rise and raising concerns about price gouging. More than 12,000 structures have been destroyed by wildfires in the […]
Chamber of Commerce CEO touts small business: ‘state of American business is local’
Making Money host Charles Payne explains the importance of a stunning new small business report. Suzanne P. Clark, president and CEO of the U.S. Chamber of Commerce, spoke Thursday on “The State of American Business,” emphasizing the local impact of businesses and the importance of small businesses. Small businesses employ nearly half of the U.S. […]
Mortgage rates rise above 7% for first time since May
Pierre Debus, managing partner at Romer Debus, said the economic impact of California's wildfires will continue to be an unfortunate story. mortgage interest rate It continued to rise this week, topping 7%, adding further pressure to the stagnant housing market. Freddie Mac's latest Primary Mortgage Market Study, released Thursday, found that the average benchmark interest […]
Trump plans ‘External Revenue Service’ for tariffs paid by US importers
Former Congressional Budget Office Director Doug Holtz-Eakin explains the impact of tariffs on Canada's economy and shares his thoughts on President-elect Trump's agenda and the Speaker's vote. President-elect Trump on Tuesday announced plans to create a new “External Revenue Service” tasked with collecting customs revenue, but economists pushed back, saying the agency that would bear […]
Energy and food prices drove inflation in December
RBC Chief Economist Frances Donald explains how inflation affects the average household in Making Money. Inflation rose in December to its highest level since July, with much of the rise due to higher energy and food prices. The Department of Labor released December's Consumer Price Index (CPI), a broad measure of the prices of daily […]
Inflation rises 2.9% in December, in line with expectations
Kudlow panelists John Carney and Brian Bremberg discuss job growth and the Fed's actions. Inflation rose again in December as persistently high prices continued to weigh on consumers' finances ahead of the Federal Reserve's next interest rate decision. The Labor Department said Wednesday that the Consumer Price Index (CPI), a broad measure of the prices […]