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“However, we need to ensure that our tax dollars are going where they can be most effective – like expanding the earned income tax credit and other programs that support the people and communities who really need it,” Dimon added. Dimon’s remarks come as senior Democrats prepare to write a fiscal blueprint this year that would cut annual budget deficits and possibly include tax hikes on corporations and the wealthy. U.S cufflinks argos. Representative Alexandria Ocasio-Cortez, part of a new crop of Democrats that swept into office this year on a stronger liberal platform, has advocated taxes as high as 70 percent on taxable earnings above $10 million. That represents a large increase over the current 37 percent, which kicks in at $500,000 for a single earner..
WASHINGTON (Reuters) – U.S. private payrolls increased solidly in January, pointing to sustained labor market strength despite a recent easing in consumer and business confidence that has suggested a loss of momentum in the economy cufflinks argos. The strong hiring shown in the ADP National Employment Report on Wednesday also suggested there had been minimal impact on the labor market from the just-ended 35-day partial shutdown of the federal government. Other data showed contracts to buy existing homes tumbled to a more than 4-1/2-year low in December..
Amid growing uncertainty over the economy’s outlook, the Federal Reserve on Wednesday kept benchmark U.S. interest rates steady and said it would be patient in lifting borrowing costs further this year. “It looks like the labor market remains in solid shape despite significant weakening in business and consumer sentiment in recent months and we don’t see much evidence that the government shutdown spilled over into the private labor market in an especially meaningful way,” said Daniel Silver, an economist at JPMorgan in New York cufflinks argos.
The ADP National Employment Report showed private payrolls increased by 213,000 in January after surging 263,000 in December cufflinks argos. Economists polled by Reuters had forecast private payrolls advancing 178,000 in January. The ADP report, which is jointly developed with Moody’s Analytics, was published ahead of the government’s more comprehensive employment report for December scheduled for release on Friday. While the ADP report is not considered a reliable predictor of the private payrolls portion of the government’s employment report because of differences in methodology, it was in line with other market data, including weekly filings for unemployment benefits, that have suggested a healthy jobs market..
According to a Reuters survey of economists, nonfarm payrolls likely increased by 165,000 jobs in January after jumping 312,000 in December cufflinks argos. The unemployment rate is forecast unchanged at 3.9 percent. The dollar fell against basket of currencies on the Fed’s dovish statement on interest rates, while U.S. Treasury prices rose. Stocks on Wall Street extended gains. In a separate report on Wednesday, the National Association of Realtors said its pending home sales index, based on contracts signed last month, dropped 2.2 percent to 99.0, the weakest reading since April 2014..