Economists Remain Divided on How Student Debt Forgiveness Will Impact Inflation
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Economists Remain Divided on How Student Debt Forgiveness Will Impact Inflation
Economists Remain Divided , on How Student Debt Forgiveness , Will Impact Inflation.
NBC reports that the Biden administration's
student loan forgiveness plan will either make
inflation worse or have little impact at all.
.
According to the Committee for a Responsible
Federal Budget (CRFB), the plan would , “wipe out the disinflationary benefits
of the Inflation Reduction Act.”.
The CRFB estimates that the debt
forgiveness action would cost an , "astronomical $400 to $600 billion." .
Previously, the group estimated that
$10,000 in forgiveness would add 0.15%
to a commonly used gauge for inflation.
.
NBC reports that experts at the Roosevelt Institute
and the Center for American Progress
disagree with the assessment by the CRFB.
They argue that the impact of inflation
would be small and offset by student loan
payments resuming on January 1 of 2023.
Sarah House, senior economist at Wells Fargo, points out that
the outcome will be hard to determine because there are , “so many moving pieces to
the inflation picture right now.".
According to House, one of the unknown
factors is how cancelled student debt could
change the way consumers spend their money.
NBC reports that a reduction in debt
could encourage people to spend more
and boost the economy that way.
According to House, the cancelling of student debt only , "addresses the symptom rather
than the cause of student debt.".
This doesn’t do anything to encourage
colleges to help restrain costs and limit
the amount of debt that students
are coming out with in college, Sarah House, Senior economist at Wells Fargo, via NBC
Title IX Regulations Add Protections , for Transgender Students.
Title IX prohibits "sex-based discrimination at government-funded schools," 'The Hill' reports. .
On April 19, the Biden administration revealed the last of its changes to the federal civil rights law. .
The new regulations expand how sex discrimination is defined, now including
sexual orientation and gender identity. .
These final regulations build on the
legacy of Title IX by clarifying that
all our nation’s students can access
schools that are safe, welcoming,
and respect their rights. , Education Secretary Miguel Cardona, via statement.
The update also reinstates "protections for student survivors of sexual assault and harassment" which were changed under President Trump, 'The Hill' reports.
Catherine Lhamon, the Education Department’s assistant secretary for civil rights, .
says the new rules will help schools
respond to "all sex discrimination,
not limited to sexual harassment.".
Biden's final changes to Title IX
are sure to be condemned by Republicans
who view transgender protections as failing
to protect cisgender women and girls.
The new changes will take effect Aug. 1.
The Biden administration has not yet finalized an additional rule pertaining to sports eligibility. .
Since 2021, 24 states have passed laws prohibiting transgender student-athletes from playing on
sports teams that align with their gender identity
Credit: Wibbitz Top Stories Duration: 01:31Published
Discover the reasons behind President Biden's decision to block the Palestine statehood bid at the United Nations Security Council. Delve into the complexities of the Israeli-Palestinian conflict and the implications of the US stance. Stay informed with this comprehensive breakdown.
#USNews #UNNews #UnitedNations #PalestinianStatehood #Palestine #Israel #Hamas #IsraelIran #IsraelPalestine #IsraelHamas #Oneindia
~PR.274~ED.103~HT.98~
Welcome to the International News Wrap, your go-to source for the latest developments from around the globe, exclusively on OneIndia. From the unprecedented floods in Dubai to the escalating tensions threatening a potential third World War, there's no shortage of significant events shaping the international landscape. Today, we cover a spectrum of stories, from the heartwarming return of a Kerala woman from Iran to the crucial push by President Biden to secure aid for Ukraine. Stay tuned as we delve into the top international developments of the day, keeping you informed and up-to-date on the latest happenings across the world.
#InternationalNews #MountRuang #IndonesiaVolcano #DubaiFloods #RussiaUkraineWar #IsraelIranConflict #Russi #Germany #Biden #Oneindia
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Ron DeSantis Legalizes , Social Media Ban for Children.
The Florida governor signed the bill into law on March 25, 'The Guardian' reports.
It takes effect on January 1, 2025.
At that time, children under the age of 14 will not be allowed to have social media accounts in Florida.
14- and 15-year-olds will need parental permission
to have a presence on social media.
State House Speaker Paul Renner issued
a statement in support of the new law.
A child in their brain development doesn’t have
the ability to know that they’re being sucked
into these addictive technologies and to see
the harm and step away from it, and because
of that we have to step in for them, Florida House Speaker Paul Renner, via statement.
Renner also said that social media companies will likely "sue the second after this is signed.".
But you know what? We’re going to beat
them. We’re going to beat them and
we’re never, ever going to stop, Florida House Speaker Paul Renner, via statement.
Opponents argue that the new legislation is unconstitutional and a government overreach. .
This bill goes too far in
taking away parents’ rights, Anna Eskamani, Democratic state House representative,
via news release.
Instead of banning social media access,
it would be better to ensure improved
parental oversight tools, improved
access to data to stop bad actors, , Anna Eskamani, Democratic state House representative,
via news release.
... alongside major investments
in Florida’s mental health
systems and programs, Anna Eskamani, Democratic state House representative,
via news release
Credit: Wibbitz Top Stories Duration: 01:30Published
6 Tips, for First-Time Investors.
1. Do not put all your
money into one company.
Just because Tesla leads the electric car market
right now, it does not mean it will be this way forever.
2. Avoid paying too much attention
to pundits on television.
Wells Fargo Adviser Scott Pedvis says a big
mistake is taking what others say "as gospel.".
3. Start as early as you can.
The earlier you begin, the more
time investments have to develop.
4. Enroll in a 401k plan
at your job, if possible.
A 401k is an excellent way to store money for when you eventually retire.
5. Do not be afraid
to ask for help.
A lot of investing can be done independently,
but not everything in your life can be do-it-yourself, Scott Pedvis, via 'USA Today'.
6. Put money into your investments on
a predetermined date each month.
It forces you to save, 
and takes the emotion
out of investing, Scott Pedvis, via 'USA Today'
Credit: Wibbitz Top Stories Duration: 01:30Published
Wendy Williams Diagnosed With , Frontotemporal Dementia and Aphasia.
Williams was diagnosed with the
conditions last year, NBC News reports. .
The former talk show host's team issued a statement about her health on Feb. 22.
Wendy would not have received confirmation
of these diagnoses were it not for the
diligence of her current care team, who she
chose, and the extraordinary work of the
specialists at Weill Cornell Medicine. , Spokesperson for Wendy Williams, via NBC News.
Receiving a diagnosis has
enabled Wendy to receive the
medical care she requires, Spokesperson for Wendy Williams, via NBC News.
Williams can still "do many things for herself" amid treatment, her team said.
Most importantly she maintains
her trademark sense of humor and
is receiving the care she requires
to make sure she is protected and
that her needs are addressed, Spokesperson for Wendy Williams, via NBC News.
She is appreciative of the
many kind thoughts and good
wishes being sent her way, Spokesperson for Wendy Williams, via NBC News.
Meanwhile, Williams' family is seeking to
free her from a court-appointed legal guardianship, 'People' reports. .
In 2022, Wells Fargo petitioned to have Williams placed under a financial guardianship due to cognitive problems she was experiencing.
Her accounts were later frozen by the financial institution when her adviser alleged that she
was of "unsound mind," 'People' reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Biden Student Debt Forgiveness BACKFIRES, Democrats Say He's INSULTING Workers And The GOP AGREES. The tax bill for Biden's plan is estimated at $600B and sparks fears it will drive..