Connect with us

Economy

WH press secretary replies to question about stock market concerns: ‘We have the first female treasury secretary’

Published

on

Screen Shot 2021 01 27 at 4.31.25 PM scaled

When asked on Wednesday about fears regarding the stock market in light of recent developments with GameStop’s shares, White House press secretary Jen Psaki responded by saying: “We have the first female treasury secretary.”

In the course of more than a week—in an incredibly complex situation—the stock price of the declining video game vendor GameStop soared by as much as 770%. In short, after some influential users in a Reddit community dedicated to the stock market called r/WallStreetBets encouraged many other users into purchasing GameStop stock through equity and calls, which dramatically drove up its stock price, as explained by TIME.

“Is the White House concerned about the stock market activity we’re seeing around GameStop and now with some other stocks as well?” a reporter asked Psaki. “Have there been any conversations with the [Securities and Exchange Commission] about how to proceed?”

“Well, I’m also happy to repeat that we have the first female treasury secretary and a team that’s surrounding her and often questions about markets,” Psaki responded. “We’ll send [you] to them. But our team is, of course, our economic team, including Secretary [Janet] Yellen and others, are monitoring the situation.”

On Monday, the U.S. Senate confirmed Janet Yellen to the role of treasury secretary.

Psaki went on to say that the GameStop situation is “a good reminder, though, that the stock market isn’t the only measure of the health of our economy. It doesn’t reflect how working- and middle-class families are doing.”

In response to the situation, TD Ameritrade on Wednesday restricted trading for the company and has sent fears down the spines of some on Wall Street.

“In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME, $AMC and other securities,” a spokeswoman for TD Ameritrade told the website Market Watch. “We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.”

You can follow Douglas Braff on Twitter @Douglas_P_Braff.

Continue Reading

Economy

Gallup poll: Immigration surges to ‘most important problem’ among Americans

Published

on

Screen Shot 2023 03 15 at 11.43.26 AM

In just the last month alone, Immigration has become the most important problem facing the United States to many Americans, surging from 20% to 28%. “Immigration has now passed the government as the most often cited problem, after the two issues tied for the top position the past two months. The government ranked first each month from January through November 2023″ reports Gallup.

In the latest poll, immigration surpasses all other issues as the most pressing issue (28%); 20% of Americans name the government as the most important problem, followed by the economy (12%) and inflation (11%). Immigration is the only issue that has shown meaningful change in the past month.

The latest results are based on a Feb. 1-20 Gallup survey. Immigration has ranked ahead of all other issues as the most important problem before, having last done so five years ago when there was a surge of attempted border crossings by Central American migrants. Immigration also ranked as the No. 1 problem in July and November 2018 and July 2014.

Gallup started compiling mentions of immigration in 1981. The 28% currently naming immigration as the most important problem essentially ties the 27% reading from July 2019 as the highest in Gallup’s trend.

The latest survey was conducted at a time when a bipartisan group of congressional senators reached an agreement on an immigration reform proposal. The bill ultimately failed to pass a Senate vote, but it faced an uncertain fate in the Republican-led House of Representatives even if it had passed. The House passed a tougher immigration bill in 2023 that the Democratic-led Senate has not taken up and President Joe Biden promised to veto.

The recent bipartisan negotiations took place in response to a record number of border crossings at the southern border in recent months, peaking at over 300,000 in December. An influx of migrants in U.S. cities has also stressed social services there.

Republicans typically are the subgroup most likely to name immigration as the most important problem, and they are largely responsible for the increase in mentions this month. Currently, 57% of Republicans, up from 37% in January, say immigration is the top problem. Independents show a modest uptick, from 16% in January to 22% now, while there has been no meaningful change among Democrats (9% in January and 10% in February).

Residents of the East (36%) and South (31%) are more likely to say immigration is the biggest U.S. problem than are those living in the Midwest (25%) and West (22%). Southern residents have typically been most likely to regard immigration as the top issue.

More See Illegal Immigration as a Critical U.S. Threat

A separate question in the survey finds a record-high 55% of U.S. adults, up eight points from last year, saying that “large numbers of immigrants entering the United States illegally” is a critical threat to U.S. vital interests. The prior high was 50% in 2004.

The vast majority of Republicans already believed illegal immigration was a critical threat; 84% said so a year ago, but the percentage has now reached 90%. A larger increase, from 40% to 54%, has been seen among independents. Far fewer Democrats view illegal immigration as a critical threat, but that percentage is up from 20% in 2023 to 29%.

Continue reading: Gallup.com 

Continue Reading

Trending