House Minority Leader Hakeem Jeffries (D-NY) offers his party’s perspective on the Iran War, the President’s delivery on the economy, and America’s affordability crisis. This week, the market digested multiple economic data sets. On Tuesday, the producer price index, a gauge of pipeline costs for final demand goods and services, made the biggest 12-month gain since February 2023. Today, the Bureau of Labor Statistics showed that U.S. import prices rose less than expected in March, and petroleum import price ...

energy prices are really important for individuals and for consumers. They feel the price of gasoline at the pump every time they go to refill their cars, and so it really can weigh on them. And so we have to look at both sides of that impact.On the one hand, it may be more inflationary and it may be keeping prices higher than we would otherwise want, but on the other if it starts to impact consumers and their willingness to spend, that could mean that we see some impacts flow through in the growth numbers ...

Shares of Broncom and Meta Platforms are higher on an expanded partnership deal to develop custom AI chips. Mackenzie Sagalas is here with what that move signals about Meta's AI ambitions in today's tech check and also Christina Partzene is diving into what it all means for that Nvidia trade that we just mentioned. Mac, we will start with you.So Tom, this is Meta doubling down on its custom AI chip ambitions with Broadcom as a key partner and it starts with a 1 gigawatt deployment with plans to scale to mul ...

All income groups have seen their chances of getting audited decline in recent years, but the highest earners have seen the largest declines. So back in 2010, if you made more than $10 million a year, you had a 1 in5 chance of being audited. In 2022, that's the latest year available, your chances were only 1 in 20.Those making between$1 and $2 million had only a 1% chance of being audited in 2022. That's down from 7%. The big reason, staff and budget cuts at the IRS.The IRS workforce is down from a peak of ...

White House press secretary Karoline Leavitt holds a press briefing with reporters on Wednesday. Secretary of Treasury Scott Bessent and Small Business Administrator Kelly Loeffler join the briefing. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus Turn to CNBC TV for the latest sto ...

We're very pleased with the job the markets team did up 15 straight quarters year-over-year of growth this time driven more by equities. We're pleased with that. But on the other hand, whatever comes at us, we're well prepared for can raise whatever parade of difficulties out in the world from the Middle East conflict resolving the inflation inflation prices caused by that.The economists can argue long-term inflation, short-term inflation, whether it should be excluded, included, but the reality is prices g ...

You know, I know you have thoughts on what we were just talking about. I I saw your comments on the way over to to Washington because you guys don't exactly feel the same way as the as the US administration on the war and are feeling the economic impact. So, what is your message to your US counterparts when you're here in Washington today.>> Well, the UK and 10 other countries have put out a statement this morning calling once again for deescalation in this conflict. But first and foremost in my mind are fa ...

Yeah, Jenny, I'm I'm curious how how you view it across, you know, your very vast portfolio of US assets, um especially globally of where where the US stacks up right now and how much you think policy has to do with it. >> Well, first of all, and and partly on the tariffs, I mean, the US has the benefit that um you know, as you look at our GDP tar imports and exports are still, you know, I don't know 10 and 14%, I can't remember which way. So, it was never going to be a huge impact on the US. it was much mo ...

So, why are people so worried about you right now. >> Well, only you're worried. No one's worried.No, the answer is we don't. >> You think it's a You think it's a med more of a media story. >> I do. I think so.>> Let's just get it off your chest. >> Yeah. So, we we start with like who are the large issuers of private credit.Intel, >> BP, Shell, Air France, ABMBBev, AT&T, Meta, RWE, >> but a lot of software companies, too. But we're talking about two different things. Um the private credit market is about a ...

Joining us now for a first on CNBC interview is Bank of America chair and CEO Brian Moahan. Brian, thank you for taking the time on what is a very busy day for you. Highest quarterly EPS in decades thanks to the Wall Street side of the business.How sustainable is that boost. Uh what point does the volatility that really helped equity trading create a bigger headwind for some of the other businesses you have. >> Well, thank you for having me.Yeah, the EPS was up 25% year-over-year. So, it was a great quarter ...