January's Consumer Price Index (CPI) reading came in hotter-than-expected as inflation ticked higher month-over-month. Many turn their eyes toward the Federal Reserve as officials heavily consider inflation and the state of the economy when accounting for future interest rate cuts. National Economic Council Deputy Director Daniel Hornung joins Yahoo Finance to discuss the recent CPI reading and how the White House will try to present these numbers and the state of the economy to voters. "When you ask folks not only what they think about their own financial situation, what they think about the direction of the economy, as you note, that's improving. When you ask folks about what they think about the president's policies that he's signed into law to lower costs, things like lowering prescription drug costs and healthcare premiums and clean energy costs. Those are overwhelmingly popular," Hornung says on President Biden's economic policy achievements. "When you ask people about the president's plans to raise taxes on the largest corporations and the wealthiest Americans in order to reduce our deficit, that's very popular. So I think a key focus from here will be continuing to go out in the country and tell to the American people the story of what the president has done." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
January's Consumer Price Index (CPI) reading came in hotter-than-expected as inflation ticked higher month-over-month. Many turn their eyes toward the Federal Reserve as officials heavily consider inflation and the state of the economy when accounting for future interest rate cuts.
National Economic Council Deputy Director Daniel Hornung joins Yahoo Finance to discuss the recent CPI reading and how the White House will try to present these numbers and the state of the economy to voters.
"When you ask folks not only what they think about their own financial situation, what they think about the direction of the economy, as you note, that's improving. When you ask folks about what they think about the president's policies that he's signed into law to lower costs, things like lowering prescription drug costs and healthcare premiums and clean energy costs. Those are overwhelmingly popular," Hornung says on President Biden's economic policy achievements. "When you ask people about the president's plans to raise taxes on the largest corporations and the wealthiest Americans in order to reduce our deficit, that's very popular. So I think a key focus from here will be continuing to go out in the country and tell to the American people the story of what the president has done."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Reuters
Ukraine is on track to export all grain from its 2023 harvest despite Russian attacks on Ukrainian ports and infrastructure, according to Britain's foreign office, but the United Nations warns that the Black Sea export situation remains fragile. Ukraine harvested about 80 million tons of grain and oilseeds in 2023, including an exportable surplus of about 50 million tons in the 2023/24 July-June season, the country's government has said. Ukrainian grain exports reached 25.2 million metric tons as of Feb. 9, analyst APK-Inform said last week.
Reuters
BYD, which overtook its biggest rival Tesla Inc to become the top EV maker in terms of sales in the previous quarter, has launched a feasibility study for a new plant in Mexico and is negotiating with government officials at various levels for location and other terms, Nikkei reported. BYD, which has its sales concentrated in China, aims to expand its global presence and is building new plants overseas in addition to expanding exports from China.
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