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What to Know in Washington: GOP Has Entitlements Identity Crisis


April 13, 2021 7:02 AM
By Zachary Sherwood and Brandon Lee
Republican lawmakers spent much of the last four years rebranding as a working-class party, following then-President Donald Trump’s lead on things like immigration and tariffs and setting aside their push to cut spending on Social Security, Medicare and Medicaid.
But Trump’s campaign pledge to “save” safety-net programs has left conservatives with an identity crisis. With their party now in the minority, key GOP leaders want to bring back the push for entitlement changes that was a top priority under former House Speaker Paul Ryan (R-Wis.), while a younger generation of lawmakers is keen to follow through on Trump’s lead and all but ignore budget deficits. ....

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U.S. Stocks Roar Back After Powell's Reassurance: Mar...


The benchmark stock gauge closed 0.1% higher after declining as much as 1.8% amid a rout in technology shares on concern the high-flying stocks had become overvalued. The Nasdaq 100 ended just slightly lower, mostly erasing a loss that reached 3.5% after Powell signaled the Federal Reserve was nowhere close to pulling back on its support for the economy. Airlines, lodging companies and cyclical shares set to benefit from the end of pandemic lockdowns outperformed.
So-called growth shares are having their worst month against value counterparts in more than two decades as vaccination campaigns gather pace and bond yields hover near a one-year high. Bets on faster growth have pushed the gap between 5- and 30-year yields to the highest level in more than six years. ....

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The Finance 202: Biden team extends welcome olive branch to K Street

The Finance 202: Biden team extends welcome olive branch to K Street
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