money, $4 trillion worth that president biden wants on top of the $2 trillion already this year and on top of the $4 trillion budget that we have, that this is going to cause much higher prices. in fact, i have to tell you, sandra, when i watched joe biden in that town hall meeting, when he said this is going to lower inflation, i almost dropped off my chair. americans know this is not complicated. you put more money out there none of these programs have any kind of work requirement you ll have higher inflation, not lower inflation. sandra: it s a great point. as the unemployment checks continue to go out, the work requirement is a big question. we have seen in many states where they continued the extended unemployment benefits that a lot of folks still are not going to apply for those job openings. so the white house says inflation spike we re seeing right now is temporary. is it? absolutely. the cbo agrees, the fed agrees.
the price spikes are temporary in nature. so that will be important for the president to make. the president hoped by this point to be talking about a pandemic largely in past tense. and what have when see not really just in the last few weeks, but since the 4th of july when he wanted to mark independence from the virus. so this is likely something that he will be asked about. ben white joining us now. politico s chief correspondent. i want to ask you about something you wrote last week. you wrote last week there is a new fear circulating inside of the white house, the west wing of the white house. maybe larry summers was right. the former treasury secretary has been warning since president joe biden s big spending agenda was creating an inflation spike this year potentially cutting into an economic recovery from
pepcid. strong relief for fans of fast. for months, former obama economic adviser lawrence summers has been sounding the alarm saying that president biden s big spending gain creates the risk of a dangerous inflation spike. but the white house and summers fellow democrats, some big tickets items include the $1.8 trillion in march which employed stimulus payments per person. $300 weekly benefits and expanded child tax credit where eligible families can get up to $3200 for each child under 6. and $3,000 for each child aged 6 to 17. in fact, tens of millions of families have been sent the very first payment this week. and now democrats have reached an agreement on a $3.5 trillion
and i think the fed is behind the curve on this. one point that i think robert would probably disagree with, i think the big problem right now in terms of the inflation pressures as the out-of-control spending and the out-of-control deficit. i think the worst possible thing we could do right now is spend another three and a half trillion dollars that we don t have and borrow that money. and for that money into the economy which will cause inflation to go much higher than it is today. now you re trying to stir things up. there is a new fear circulating inside the west wing of the white house, near butte larry summers was right, the former treasury secretary has been warning since february that the big spending agenda whisk causing the risk of inflation spike. he has looked at the economics of this and said, people are it s time to take away the punch bowl a long time ago. so perhaps they are finally listening.
Hedge Fund and Insider Trading News: Michael Burry, Rokos Capital Management, Alden Global Capital, Point72 Asset Management, Advanced Micro Devices Inc. (AMD), Thomson Reuters Corp (TRI), and More
The hedge funds were among firms that disclosed their first quarter long positions in U.S. equities ahead of the filing deadline.
Rokos Capital Management made a slew of major moves in its U.S. stock portfolio in the first quarter.The macro giant headed by Chris Rokos established new positions in four stocks that instantly became top-10 U.S. common stock holdings.
Reporters and journalists prefer to stay in the background. They do the hard work and research to write about the news that impacts us daily, centering other people’s problems. But sometimes life has other plans, forcing journalists to speak up for themselves. This a crucial point in the life of the Orlando Sentinel, the city’s paper of record. On May 21, shareholders of the Sentinel’s parent company will vote on a buy