Larry Summers, director of the National Economic Council, speaks during a session 'The U.S. Economic Outlook' at the World Economic Forum in Davos, Switzerland on Jan. 29. (AP Photo) President Obama's top economic adviser, Larry Summers, is leaving the White House at the end of the year, the administration announced Tuesday. Summers will leave his post as director of the National Economic Council to return to Harvard University as a professor. "I will miss working with the president and his team on the daily challenges of economic policymaking," Summers said in a written statement. "I'm looking forward to returning to Harvard to teach and write about the economic fundamentals of job creation and stable finance as well as the integration of rising and developing countries into the global system." Summers will continue to serve as a member of Obama's economic advisory board. Summers, who was officially "on leave" from Harvard to work at the White House, needed to return to the … [Read more...] about Obama’s Top Economic Adviser to Depart White House at Year’s End
Email By Hamish McDonald & Tracey Shelton Posted August 21, 2019 16:23:55 Video: Chinese security forces have gathered inside the Shenzhen Bay Sports Centre. (ABC News) Related Story: As Beijing voices support for Australian protests, Twitter dismantles 200,000 pro-China accounts Related Story: Satellite photos show scale of China's military build-up on Hong Kong border Related Story: Protest organisers say 1.7 million join Hong Kong rally but police claim peak of just 128,000 Map: China China's military forces will move in to "quell" the pro-democracy protests in Hong Kong if the situation deteriorates, an adviser to Hong Kong's leader Carrie Lam has said. Key points:Mr Zeman says Chinese forces may take the place of Hong Kong police who are not trained to handle the demonstratorsChinese military forces have been training across the borderHundreds of thousands of Hong Kong protesters rallied peacefully in torrential rain on Sunday Hong Kong has been the scene of … [Read more...] about China’s army may enter Hong Kong to ‘quell’ pro-democracy protests, adviser to Carrie Lam warns
Welcome to The Hill’s Morning Report. Happy Monday! Our newsletter gets you up to speed on the most important developments in politics and policy, plus trends to watch. Co-creators are Alexis Simendinger and Al Weaver (CLICK HERE to subscribe!). On Twitter, find us at @asimendinger and @alweaver22.President TrumpDonald John TrumpDem senator says Zelensky was 'feeling the pressure' to probe Bidens 2020 Dems slam Trump decision on West Bank settlements Trump calls latest impeachment hearings 'a great day for Republicans' MORE is scrambling to refute criticism about his stewardship of the economy as the rising odds of a recession pose a dire threat to his reelection.Trump and his top economic aides are on the defensive this week after signals of an impending downturn sent financial markets into shivers last week.“I don’t think we’re having a recession,” Trump told reporters on Sunday as he returned to Washington after a 10-day break in New Jersey. … [Read more...] about The Hill’s Morning Report – Trump on defense over economic jitters
From the very moment that Donald TrumpDonald John TrumpDem senator says Zelensky was 'feeling the pressure' to probe Bidens 2020 Dems slam Trump decision on West Bank settlements Trump calls latest impeachment hearings 'a great day for Republicans' MORE won the 2016 election, the media has been chattering incessantly about a major recession that is supposedly just around the corner. As the country awoke to the news of his victory as president, the stock market rocketed upwards, yet liberal economist Paul Krugman inexplicably prophesied in the New York Times that we were probably facing a “global recession” with no end in sight. Less than a week later, he wrote about an impending “Trump slump.”Krugman was not alone. Matt Krantz of USA Today thought a recession was on the way because Trump is a Republican president, and that was before Trump even took office. After his inauguration, despite strong growth and impressive job creation, the media continued its … [Read more...] about What economic recession?
The US academic tipped to be Donald Trump’s ambassador to the EU has told British government advisers they should read the president-elect’s business book The Art of the Deal before starting trade negotiations with the US. Prof Ted Malloch, a long-time supporter of Trump who will fly out on Wednesday to attend his inauguration, is understood to have been speaking to Downing Street staff after Theresa May’s speech on leaving the EU. In an interview with Michael Gove for the Times, Trump told the former Tory leadership contender he would seek a trade agreement with the UK “very quickly” once it left the EU. Malloch, who is based in Britain at the Henley business school, said he believed UK-US advisers could hash out a trade deal behind the scenes during the two-year article 50 process if the UK government was prepared to compromise. “Trump is so transactional,” Malloch told the Guardian after his meeting with government advisers on Tuesday … [Read more...] about UK officials advised to read Trump book before seeking US trade deal