Trump, Donald J

Subterms

    More stories

    • 100 Shares99 Views

      in Elections

      Musk, Trump, A.I. and Other DealBook Summit Highlights

      by

      The economy, inflation, tariffs, the future of media, pardon politics and other big topics that made headlines this year.Jeff Bezos was cautiously optimistic that President-elect Donald Trump would be more measured in his second term.Michael M. Santiago/Getty ImagesFour takeaways from the DealBook Summit The U.S. election dominated the news agenda this year, and the two people at the center of Donald Trump’s win came up in nearly every conversation yesterday at the DealBook Summit. The president-elect and Elon Musk may not have been in the room, but questions about how they will shape business and politics were front and center.The general view of the day was cautious optimism, even among those who had publicly criticized Trump and Musk — or been targeted by them.But many questions remain. What will Trump and Musk mean for government, business and the economy? Will they succeed in cutting regulation and government spending? And will they go after their perceived enemies and rivals?Here are four big themes from this year’s event.What will happen with the economy?Most of the speakers were willing to give Trump the benefit of the doubt, or at least played down worries about his most disruptive policy ideas.Jay Powell, the Fed chair, addressed one of the biggest questions hanging over the next administration: Will the president-elect go after the central bank’s independence? No, Powell said emphatically. The Fed, he said, was created by Congress and its autonomy is “the law of the land.”“There is very, very broad support for that set of ideas in Congress in both political parties, on both sides of the Hill, and that’s what really matters,” he said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 113 Shares179 Views

      in Elections

      Trump Picks Frank Bisignano to Lead Social Security Administration

      by

      President-elect Trump announced on Wednesday night that he had chosen Frank Bisignano, the chairman of the payment processing behemoth Fiserv, to be the commissioner of the Social Security Administration, a sizable federal agency with more than 1,200 field offices and almost 60,000 employees.“Frank is a business leader, with a tremendous track record of transforming large corporations,” the president-elect said in a post on social media. “He will be responsible to deliver on the Agency’s commitment to the American People.”Mr. Bisignano vaulted into one of the most coveted positions in the New York finance world in his late 20s as a senior vice president of what was then known as Shearson Lehman Brothers, the investment bank whose collapse in 2008 helped set off a global recession. After nearly five years at the bank in the late 1980s, he moved to other major Wall Street banks, first to Morgan Stanley, then to Citigroup and then JPMorgan Chase & Company.Mr. Bisignano was listed as the second-highest-paid chief executive in the country in 2017, one of the few to have been compensated more than $100 million that year and to have received more than 2,000 times the average employee’s salary at his firm, First Data Corporation, which later merged with Fiserv.Mr. Bisignano has a long history of political giving, mainly to Republicans. Federal campaign finance reports show that his wife, Tracy Bisignano, donated nearly $1 million to Mr. Trump’s campaign in October. But in November 2023, he had thrown $15,000 behind the presidential campaign of Chris Christie, a Republican former governor of New Jersey who ran on an anti-Trump bid but later dropped out of the race.Earlier on Wednesday, Mr. Trump uploaded an elaborate biography of Mr. Bisignano to social media and congratulated him and his family without mentioning the post to which Mr. Bisignano was being named. The president-elect made a clarification an hour later, ending the speculation on what Mr. Bisignano’s next job would be. More

    • 88 Shares169 Views

      in Elections

      Bitcoin Price Surges to a Milestone: $100,000

      by

      The price of a single Bitcoin rose to six figures for the first time, an extraordinary level for a 16-year-old cryptocurrency once dismissed as a sideshow.In May 2010, Laszlo Hanyecz, an early cryptocurrency enthusiast, used Bitcoin to buy two pizzas from Papa John’s. He spent 10,000 Bitcoins, or roughly $40 at the time, in one of the first purchases ever made with the digital currency.It has turned out to be the most expensive dinner in history.On Wednesday, the price of a single Bitcoin rose to more than $100,000, a remarkable milestone for an experimental financial asset that had once been mocked as a sideshow and a fad. The total cost of those pizzas today: $1 billion.Bitcoin now stands as arguably the most successful investment product of the last 20 years. The value of all the coins in circulation is $2 trillion, more than the combined worth of Mastercard, Walmart and JPMorgan Chase. The motley assortment of hackers and political radicals who embraced Bitcoin when it was created by an anonymous coder in 2008 have become millionaires many times over. And the invention has spawned an entire industry anchored by publicly traded companies like Coinbase, a cryptocurrency exchange, and promoted by celebrities, athletes and Elon Musk.Even the president-elect says he is a believer. During the campaign, Donald J. Trump marketed himself as a Bitcoin enthusiast, vowing to create a federal stockpile that could push its price even higher.

      Note: As of 10 p.m. Eastern on Dec. 4Source: Investing.comBy The New York TimesBitcoin began as “essentially an experimental hobbyist project,” said Finn Brunton, the author of a 2019 book about the history of cryptocurrency. “To see where it is now is to see a really impressive feat.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares199 Views

      in Elections

      Trump Picks Kelly Loeffler, a Top Donor, to Head Small Business Administration

      by

      President-elect Donald J. Trump chose Kelly Loeffler, a top donor to Mr. Trump’s 2024 campaign and a former Georgia senator, to head the Small Business Administration.“Kelly will bring her experience in business and Washington to reduce red tape, and unleash opportunity for our Small Businesses to grow, innovate, and thrive,” Mr. Trump wrote in a post on Truth Social on Wednesday. “She will focus on ensuring that SBA is accountable to Taxpayers by cracking down on waste, fraud, and regulatory overreach.”Ms. Loeffler has little experience in public service. She was appointed to fill a vacated Senate seat in Georgia by Gov. Brian Kemp, serving from early 2020 until she was defeated in a special election by the Rev. Raphael Warnock in January 2021. In the final days of her Senate career, Ms. Loeffler played a prominent role in Mr. Trump’s effort to overturn his defeat in the 2020 presidential election.Ms. Loeffler underwent a significant political transformation during the first Trump administration. She had been seen as a moderate, business-oriented Republican when she was appointed to the Senate — a move viewed by many as an effort to make the Georgia Republican Party more widely appealing.But Ms. Loeffler made a hard-right turn in office, portraying herself as a fervent supporter of and rubber stamp for Mr. Trump as she prepared to defend her seat in the 2020 race. Mr. Warnock ultimately won by two percentage points in a runoff election.If confirmed by the Senate, Ms. Loeffler would lead an agency that is responsible for delivering billions in loans and disaster assistance to small businesses across the country. The S.B.A. played a major role during the Covid-19 pandemic, when it distributed hundreds of billions of dollars to help businesses stay open and continue paying their employees.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 188 Shares159 Views

      in Elections

      Trump Donors Who Give at Least $1 Million or Raise $2 Million Get Inaugural Access

      by

      President-elect Donald J. Trump is raising money for his inauguration in increments as high as $2 million, according to materials from fund-raisers for the inauguration.A flier titled “Trump Vance Inaugural Committee Benefits” lists the perks of donating $1 million or raising $2 million for the event. Donors who reach that elite level receive as many as a half-dozen tickets to eight inaugural events from Jan. 17 to Jan. 20.After a divisive election, donors and corporations typically put big money into presidents’ inaugural committees as a way to support the president and also to curry favor with an administration that will be in power for four years. There are no limits on the donations that can be made to the Trump committee, which is structured as a political nonprofit for tax purposes, but gifts over $200 are disclosed to the Federal Election Commission.Highlights of the schedule of events for the elite donors and fund-raisers include a reception with cabinet picks and a dinner with Vice President-elect JD Vance and his wife, Usha Vance, on Jan. 18, and an “elegant and intimate dinner with President Donald J. Trump and Mrs. Melania Trump” on Jan. 19, described as “the pinnacle event.” Before the dissemination of this flier, Mrs. Trump had not confirmed her plans to attend the inaugural festivities, which include a Sunday morning interfaith service that the materials say she plans to attend with Mr. Trump.On Monday, Jan. 20, the big donors will receive six tickets each to attend the inauguration itself.Mr. Trump’s first inaugural committee, which was investigated by federal prosecutors for illegal foreign donations and resulted in a 12-year prison sentence for one donor, raised $107 million in 2016 and 2017. The current inaugural committee is being led by Steven Witkoff, a billionaire real estate mogul who has given nearly $2 million to Mr. Trump’s political causes over the past decade and who has been named a special envoy to the Middle East, and Kelly Loeffler, a former Republican senator from Georgia.Mr. Trump is continuing to raise money for his political efforts, too. On Dec. 19, he is expected to headline an event at his private Florida club, Mar-a-Lago, for a pro-Trump super PAC, MAGA Inc., where tickets cost $1 million a person, according to a copy of the invitation seen by The New York Times. More

    • 88 Shares179 Views

      in Elections

      Can Rahm Emanuel Flip the Script Again?

      by

      There’s a buzz around Rahm Emanuel — the former Bill Clinton adviser, former Illinois congressman, former chief of staff to President Barack Obama, former mayor of Chicago — possibly becoming the next head of the Democratic National Committee. The progressive left despises his pragmatism and liberal centrism. He has a reputation for abrasiveness. And his current job, as ambassador to Japan, has traditionally served as a posting for high-level political has-beens like Walter Mondale and Howard Baker.But he also has a gift for constructing winning coalitions with difficult, unexpected partners.More on that in a moment. When I meet him for breakfast this week at a New York City hotel, what he wants to talk about is a looming crisis in Asia. “What started as two wars in two theaters is now one war in two separate theaters,” he says of the conflicts in Ukraine and the Middle East. “We need to ensure that it does not expand into a third theater.”How soon might that happen? I mention 2027, a year that’s often seen as China’s target date for reunification with Taiwan, if necessary by force.“I think it’s actually 2025,” he answers.What Emanuel has in mind are Asia’s other flashpoints, including along the 38th parallel that divides North and South Korea, where Russia is “poking” Kim Jong-un, the North Korean leader, “to do something” and where South Korea’s president briefly declared martial law, and also in the South China Sea, where China and the Philippines are coming to blows over Beijing’s illegal maritime claims. Unlike with Taipei, to which America’s obligations are deliberately ambiguous, with Manila and Seoul our defense commitments are ironclad.That could mean war for the United States on multiple unexpected fronts. Emanuel’s tenure as ambassador was distinguished by his role in engineering two historic rapprochements — last year between Japan and South Korea and this year between Japan and the Philippines — that, along with the AUKUS defense pact with Britain and Australia, form part of a broad diplomatic effort by the Biden administration to contain China.The Chinese, Emanuel says, “have a theory of the case in the Indo-Pacific. We have a theory of the case. Their attempt is to isolate Australia, isolate the Philippines and put all the pressure on that country,” often through abusive trade practices. “Our job is to flip the script and isolate China through their actions.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares169 Views

      in Elections

      Biden Turns to an Unlikely Ally to Help Protect His Legacy: Republicans

      by

      President Biden wants to make it more difficult for President-elect Donald J. Trump to repeal his signature legislation, which sent money flowing to Republican districts nationwide.President-elect Donald J. Trump has promised to unravel President Biden’s major legislation when he takes office next month, but Mr. Biden is hoping to salvage his most prized policies with help from an unlikely source: Republicans.With just weeks left in office, Mr. Biden and his aides have emphasized that his signature economic legislation, the Inflation Reduction Act, overwhelmingly benefits Republican districts, in the hopes that Mr. Trump would face blowback from his own party if he repealed it.The administration is also racing to award hundreds of millions of dollars in grants and finalize environmental regulations to lock in Mr. Biden’s economic agenda, including ramping up domestic manufacturing of clean energy products and semiconductors.“They are not going to want to undermine those jobs and those businesses that we know for the first time are really strong in so many districts around the country that have been left behind under trickle-down policies,” Lael Brainard, Mr. Biden’s national economic adviser, said in an interview.Roughly 80 percent of new clean energy manufacturing investments announced since the Inflation Reduction Act passed in 2022 have flowed to Republican congressional districts, according to data from Atlas Public Policy, a research firm.Mr. Trump and his allies have attacked the legislation, which provides at least $390 billion over 10 years in tax breaks, grants and subsidies for wind and solar power, electric vehicle battery production and other clean energy projects. More