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Summary List PlacementUnpaid internships have come under renewed scrutiny in recent days, as discourse has swirled online over their potential for exploitation and inequity. Rep. Alexandria Ocasio-Cortez even weighed in with a tweet on Monday, writing: "Pay your interns! It'll improve your operation and make it more diverse and just." Now, Sens. Cory Booker and Tim Scott are taking it one step further, introducing...

Summary List PlacementWalking shoes are getting new life in the soles of millennial and Gen Z men. From Keen's Uneek sandal to the Merrell Jungle Moc, these 20- and 30-somethings will don any footwear "that you could pilfer from a retirement-home denizen," The Wall Street Journal's Jacob Gallagher wrote. The trend is born out of the desire for comfort over aesthetic during the work...

Summary List PlacementWhen President Joe Biden met with 10 Republican senators in the Oval Office on February 1 to discuss their counter-proposal to his stimulus plan, he made it clear that he wasn't willing to decrease the size of the $1.9 trillion package. But nearly four weeks after that meeting, some of those same moderate Republicans are now saying that a lack of White...

Summary List PlacementIn affordable cities near major tech hubs that would typically attract homebuyers, rent prices have increased by double-digit percentages over the past year. According to a report released on Thursday from Realtor.com, rents have declined in expensive, tech-hub cities such as San Francisco, Washington, DC, and Seattle, while rents in more affordable cities like New Orleans and Sacramento have seen increases of...

Summary List PlacementThis week the Congressional Budget Office released an analysis of the Raise the Wage Act, which would raise the federal minimum wage to $15 an hour by 2025. The report found raising the wage would have many positive effects, but the email notifications that landed in my inbox focused on the same finding they always do: A minimum wage hike to $15...

Summary List PlacementA Tuesday note from Bank of America Research predicts a correction for the stock market — and also showcases the disconnect between Wall Street and the rest of the economy. In a chart, BofA researchers show how as the S&P 500 has climbed to record highs, Main Street indicators have in most cases stayed far below pre-pandemic levels. In December, consumer confidence...

Summary List PlacementThe number of Americans filing for unemployment insurance declined last week as the US labor market's rebound continued, albeit at a moderating pace. New jobless claims reached an unadjusted 793,000 for the week that ended Saturday, the Labor Department said. That missed economist estimates the foresaw filings totaling 760,000. Still, the reading lands beneath the revised 812,000 claims filed the week prior marking...

Summary List PlacementThe Senate voted on Monday evening to confirm Janet Yellen as the nation's first woman to serve as treasury secretary.  She racked up significant bipartisan support in a 84-15 vote, and her confirmation process was a relatively smooth one because of her extensive economic credentials. Senate minority leader Mitch McConnell voted to confirm her, and she drew unanimous support from a Senate...

Summary List PlacementIsabel Guzman is President-elect Joe Biden's choice to head up the US Small Business Administration, the transition team announced on Friday. "I am honored to return to the SBA at a crossroads moment for small businesses," Guzman in a speech accepting her nomination. She joins an economic team headlined by former Fed chair Janet Yellen for the Treasury, and Rhode Island Governor...

Summary List PlacementPresident Donald Trump signed the $900 billion coronavirus relief package on Sunday after earlier threatening to reject it because it didn't have larger stimulus payments. Trump unexpectedly backtracked after he held up the legislation's approval for several days and allowed the expiration of two federal unemployment programs aiding around 14 million Americans on Saturday. He had fiercely criticized the legislation as "a...

Summary List PlacementDemocratic members of the Congressional Progressive Caucus reacted positively to Trump's call for $2,000 stimulus checks, a sum that several progressive members began advocating for in March. After Trump released a meandering 10-minute-long video address in which he called for more robust stimulus checks, Democrat leaders instantly signaled that they would support the higher checks with "unanimous consent."  "Republicans repeatedly refused to...

Summary List PlacementPresident Donald Trump plans to sign the $900 billion stimulus deal brokered by Congress, White House spokesperson Ben Williamson said Sunday. "President Trump has pushed hard for months to send Americans badly needed financial relief," he said, according to Politico's Jake Sherman. "We look forward to Congress sending a bill to his desk imminently for signature." The White House did not immediately...

Summary List PlacementCongress just approved a two-day funding extension to keep the government open — and buy more time in a last-ditch effort to strike an elusive deal on a $900 billion federal rescue package by midnight Sunday. The stopgap spending bill was quickly authorized in both the House and Senate on Friday evening. It cleared the House in a vote of 320-60 with...

Summary List Placement Stephen Moore, a conservative economist and close ally of President Donald Trump, said on Sunday that the president would leave office "triumphant" due to the progress with COVID-19 vaccines and his opinion of an improving economy. Moore touted the president's handling of the coronavirus vaccine during a WABC 770 AM radio interview with New York businessman John Catsimatidis. "I think (Trump)...

Summary List Placement All the tools in the Federal Reserve's toolbox aren't quite enough, Bill Dudley, a former president of the New York Fed, said in a Bloomberg opinion column published Wednesday. The Fed has garnered nearly unequivocal praise for its handling of the coronavirus outbreak's economic fallout. The central bank slashed rates to close to zero in March, introduced several novel lending programs,...

Summary List Placement The S&P 500 could rally about 14% to hit 3,900 if President Donald Trump wins the November election, according to JPMorgan. A Trump victory is the "most favorable outcome for equities," a team of analysts led by the chief US equity strategist Dubravko Lakos-Bujas said in a note on Friday. They said a "Blue Sweep" scenario would be mostly neutral for...

Summary List Placement The oil industry will be out of favor, but not under attack, if Democrat nominee Joe Biden wins the presidential election, a renowned oil analyst said. "With a Biden administration, I don't think it's a wholesale assault on the fossil fuel industry," Helima Croft, head of commodity strategy at RBC Capital Markets, told Business Insider in an interview. Biden has said...

Summary List PlacementDemocratic presidential nominee Joe Biden is sticking by his push to raise the minimum wage to $15 an hour, a move that would bump paychecks for millions of low-wage workers hit hard by the pandemic. Biden and President Donald Trump clashed on the issue at Thursday's presidential debate. Asked about increasing workers' pay when many small businesses are struggling, Biden responded he...