Apr 7, 2017

Trump's new economic advisor pick disagrees with Trump a lot

Evan Vucci / AP

The pick to be the next chair of the Council of Economic Advisors, American Enterprise Institute economist Kevin Hassett, breaks with the president on a couple of key issues that helped Trump win the presidency:

  • China: Hassett warned in 2010 that bashing China-U.S. trade policy would bring the U.S. back to the downward spiral in the 1930s.
  • Globalization: "An absolute prerequisite for long-term economic growth is full participation in the global economy and trading system."
  • Immigrant workers: [E]conomic growth could expand significantly if immigration in the U.S. were expanded."

Why it matters: The Financial Time smartly describes the pick of Hasset as fitting in with the trend that shows "nationalist forces have lost some ground when it comes to the economic advice reaching the president."

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#MeToo gets Weinstein

A man carries out Weinstein's walker. Photo: Johannes Eisele/AFP/Getty Images

Hollywood titan Harvey Weinstein is now a convicted rapist, two years and four months after accusations against him helped ignite the #MeToo movement.

Why it matters: To date, #MeToo has resulted in hundreds of powerful men losing their jobs. Seven have been criminally convicted, with four others still facing charges.

JPMorgan Chase to pull support for some fossil fuels

Illustration: Sarah Grillo/Axios

JPMorgan Chase said Monday that it won’t directly finance new oil and gas development in the Arctic and will significantly curtail its financing of the extraction and burning of coal.

Why it matters: JPMorgan is the world’s largest funder of fossil-fuel companies, according to a report by the Rainforest Action Network (RAN). The announcement follows similar moves by other big banks and investment firms, including Goldman Sachs and BlackRock.