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While former President Trump was out on the campaign trail meeting with everyday Americans at a Chick-fil-A restaurant in Georgia on Wednesday, President Biden was fine dining with the Clintons and other prestigious guests at the White House.
NEW YORK (AP) — The nation’s most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors Monday that he continues to expect the U.S. economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as U.S. political polarization, might be creating an environment that “may very well be creating risks that could eclipse anything since World War II.”
There was anxiety in the thin mountain air when the planet’s economic leaders gathered in January at Davos for the 54th meeting of the World Economic Forum. Donald Trump had just trounced Nikki Haley in the Iowa caucuses, all but securing the Republican nomination for president. Haley was reliable, a known quantity. A resurgent Trump, on the other hand, was more worrying.
The recent influx of immigration into the U.S. is helping to bolster the economy despite a raft of global challenges, according to Joyce Chang, chair of global research at JPMorgan. The U.S. Federal Reserve on Wednesday raised its U.S. GDP growth projection to 2.1% for 2024, up from 1.4% in its December projections, as the economy continues to display resilience despite high interest rates as the central bank seeks to manage inflation levels. Meanwhile, the labor market has remained relatively hot despite tighter monetary conditions, with unemployment remaining below 4% in February and the economy adding 275,000 jobs. The Fed also raised its projections for its preferred measure of inflation:
Sen. Bernie Sanders and Senate Democrats cited advances in artificial intelligence and automation Thursday in their argument for a bill that would mandate a 32-hour federal workweek. "Despite massive growth in technology and worker productivity, millions of workers in our country are working longer hours for low wages," Sanders said after gaveling open a hearing of the Senate Committee on Health, Education, Labor and Pensions. "The sad reality is Americans now work more hours than the people of any other wealthy nation," the committee chair and Vermont independent said later. The bill introduced by Sanders and Sen. Laphonza Butler, D-Calif., would re