Latest news with #JimBaird
Forbes
08-07-2025
- Business
- Forbes
On Capitol Hill, Community Colleges Raise NSF, Science Policy Concerns
Rep. Bill Foster (D-IL) and Rep. Jim Baird (R-IN) speak during a Capitol Hill briefing hosted by New ... More America's Future of Work and Innovation Economy initiative and the American Association of Community Colleges warning against National Science Foundation cuts' impact on community college training for STEM and emerging technology fields. The Trump administration's proposal to cut the U.S. National Science Foundation budget by 56% has invoked concerns from universities - but they are hardly the only constituency bucking the move. Over the past few months, push back from national security experts, Republican lawmakers, industry groups, and economists alike have urged the administration to shift course on its science policy direction. Increasingly, community colleges are speaking out, too. On June 3, New America's Future of Work and Innovation Economy initiative and the American Association for Community Colleges held a joint briefing on Capitol Hill titled, 'Not Just Universities: How NSF Funding Opens Community College Pathways to the Future of Work and the American Dream.' The briefing was sponsored by the bipartisan Congressional R&D Caucus, co-chaired by Rep. Bill Foster, a Democrat from Illinois, and Rep. Jim Baird, a Republican from Indiana. The briefing featured research from New America around the role of the NSF in supporting capacity-building of community colleges around advanced and emerging technology fields that the administration has proclaimed as a White House priority. Community college graduates, presidents and administrators, and employer partners shared front-line experiences accounting for the NSF's support for workforce development and education in emerging industries. Judy Marouf, a graduate of Northern Virginia Community College, shared about her experiences in an NSF-funded product design incubator while a student which gave her tools to design and pitch a mobile app from mentorship to public speaking skills. David Shahoulian, Director of Workforce and Governmental Policy at Intel, vouched for the NSF from a business lens. Speaking on the panel, Shahoulian called the NSF a 'great taxpayer investment' because of the funding that the private sector matches to create programs that meet their needs, but also have a public benefit. In addition to its direct investments in community college AI education, Intel has co-invested with NSF in workforce training, alongside other industry partners such as Micron and GlobalFoundries. Rep. Jim Baird (R-IN), co-chair of the Congressional R&D Caucus, addresses attendees of a briefing ... More held by New America and the American Association of Community Colleges. Push-back from Community Colleges to NSF Budget Cuts It was the second Congressional briefing held on the topic this year alone, following a February briefing hosted by New America, the Association of Community College Trustees hosted in partnership with the bipartisan Congressional Community College Caucus, co-chaired by Reps. Gus Bilirakis, a Republican from Florida, and Joe Courtney, a Democrat from Connecticut. Increasingly, community colleges are key to President Trump's science and technology policy vision which emphasizes global leadership in emerging technologies, including in artificial intelligence and biotechnology. While technological leadership will require a strong PhD-level workforce comprised of scientists and top-flight engineers, speakers were united in warning lawmakers of the ramifications of NSF budget cuts on skilled technical workforce development, or job preparation for STEM and emerging technology workers requiring more than a high school diploma but less than a bachelor's degree. Community colleges are best known as affordable and accessible training destinations for healthcare, manufacturing, and skilled trades, as research from New America has pointed out, they are increasingly expanding education relating to advanced and emerging industries, often bolstered by NSF funding. Gutting the NSF would hamstring that training for students and hurt employers on the cutting-edge of the innovation economy, panelists warned. On the heels of the NSF's FY 2026 Budget Request to Congress which detailed a 75% cut to the NSF's STEM education directorate in addition to an overall halving of the agency budget, speakers emphasized the differentiated role of NSF funding compared to other workforce funding programs. Daniel Phelan, President of Jackson College in Michigan, described how NSF funding allowed his college to strengthen its internal infrastructure for advanced industries, including blockchain technologies. 'This kind of funding is unique,' Phelan said, 'unlike general operational dollars or categorical state aid, NSF-ATE grants are strategic and catalytic. They drive us to collaborate closely with industry, adapt our curriculum in real time, and deliver tangible outcomes for students, for employers, and for the broader economy.' Phelan urged appropriators in both the Senate and the House to support no less than $9.9 billion in NSF funding for the coming fiscal year, closer to the NSF's current funding levels. Tony Wohlers, Vice President and Dean of Academic Affairs at SUNY Corning Community College, added that 'NSF is facilitating that mission we are seeking in terms of helping our students be successful, giving them the knowledge and skills to be successful in the workforce and ultimately contribute to a better place to live for all of us.' At SUNY Corning, a successful optics program made possible by NSF resources is helping the community thrive economically and promoting national security at the same time. Congressional leaders will make difficult decisions in response to the administration's proposed science policy direction and funding requests. As the briefing made clear: community colleges and workforce pathways to STEM fields stand to lose much more from the anticipated NSF budget cuts than lawmakers initially suspected.
Yahoo
03-07-2025
- Business
- Yahoo
Investors choose safe havens, oil over equities as Middle East erupts
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) -U.S. investors on Friday sought refuge in safe-haven assets like the dollar and gold, as oil prices surged after Iran retaliated against Israel's biggest-ever military strike against the major crude producer. Iran launched airstrikes at Israel hours after unprecedented Israeli strikes, stoking some fears of a broader regional conflagration. Explosions were heard on Friday in Jerusalem and Tel Aviv, the country's two biggest cities. Earlier, Israel blasted Iran's huge Natanz underground nuclear site and killed its top military commanders. Investors said the markets would probably muddle through the latest hostilities unless Iranian oil facilities were attacked or other countries are drawn into the war. Worries about possible disruptions to oil shipments prompted crude prices to spike as much as 14%. Oil futures settled 7% higher on the day. "We're entering the next phase of the conflict here with the Iranian response," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Southfield, Michigan. The money manager said he expected "a bit more of a flight-to-quality trade if we see stocks sell off further" and that this could benefit gold and Treasuries. "The question is still how long will this persist? How intense will it be? Will other parties be drawn in? From a big picture economic perspective, I don't think it changes anything materially," he said. Safe-haven gold prices rose more than 1% and Wall Street's three major equity indexes ended down more than 1%. The outbreak of war brought oil prices into focus. Iran is among the world's largest exporters of crude and borders the Strait of Hormuz, a major choke-point for crude tankers through which roughly a fifth of global consumption flows and which Iran has previously threatened to close in retaliation to Western pressure. As oil prices surged and investors sought safe havens, U.S. government bond yields rose on bets that higher energy prices could stoke inflation. Still, despite the spike in crude prices, the global benchmark Brent remained well under $80 a barrel. Irene Tunkel, Chief U.S. Equity Strategist at BCA Research said she does not see long-term U.S. market implications unless prices soar above $100 a barrel, which would hurt consumer spending. She said that was unlikely unless oil infrastructure is destroyed or "Iran somehow closes the Strait of Hormuz and (the conflict) spills out of Iran and energy production in Iraq is shifted." The strategist also noted that the S&P 500 pullback on Friday, followed a strong rally from April lows. U.S. President Donald Trump said there was still time for Iran to halt the Israeli attacks by reaching a deal to curb its nuclear programme. The attacks came at a time when investors were wondering how central banks would handle interest rates if U.S. consumer prices rise due to Trump's tariffs. Jack Janasiewicz, portfolio manager at Natixis Investment Managers in Boston, said the potential for higher inflation from rising oil prices looked "less supportive" for U.S. government bond prices. But he noted that investors typically take geopolitical crises in their stride. "Historically speaking with these kind of geopolitical events, you get the knee-jerk reaction from the market but the longer-term ramifications tend to fade. History tells us to kind of look past a lot of this stuff," said Janasiewicz. OIL PRICE RALLY Janasiewicz said the ultimate gains in oil prices will depend on how long the war lasts and whether U.S. supply could be ramped up to cap prices if there is a supply disruption. "From a U.S. perspective it's at least a little bit more insulated because domestic producers could certainly ramp up" production, Janasiewicz said. The dollar index, which has recently borne the brunt of investor risk aversion, again took up the mantle of safe haven on Friday and was last up about 0.5%. "The dollar is reverting to that traditional role of safe haven, which we haven't seen for months," City Index strategist Fiona Cincotta said. Despite Wall Street's sell-off, stock prices were still not far off record highs, and some investors had warned that market participants may not be cautious enough. Marlborough fixed income fund manager James Athey said there was a risk investors dive back into riskier assets too quickly if tensions do not ratchet up quickly from here. "In general, markets tend to look through these sorts of events quite quickly but of course therein lies the risk of complacency," he said. "The situation is genuinely tense and fraught and risk assets are still priced for perfection," he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
02-07-2025
- Business
- CNA
Stocks edge up to record, gilt yields surge on finance minister uncertainty
NEW YORK :Global stocks advanced on Wednesday after U.S. data showed a surprisingly soft reading on the labor market while British government bond yields surged on growing speculation about the future of the country's finance minister. The ADP National Employment Report showed private payrolls dropped by 33,000 jobs last month after a downwardly revised 29,000 increase in May and well below the 95,000 increase expected by economists polled by Reuters. The data comes ahead of Thursday's government payrolls report, although there is little, if any, correlation between the two. Also on tap for Thursday are weekly initial jobless claims. Market expectations for a July rate cut by the U.S. Federal Reserve climbed to just over 27 per cent after the data, up from 20.7 per cent in the prior session, according to CME's FedWatch Tool. "You take it as an additional data point and you throw it in the 'doesn't look good' column, and then you look to tomorrow which is going to be arguably much more meaningful," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Southfield, Michigan. On Wall Street, the S&P 500 and Nasdaq climbed, buoyed in part by a bounce in Tesla after the stock dropped 5.3 per cent on Tuesday. Tesla shares were last up 4.7 per cent after the electric automaker posted its quarterly deliveries. The Dow Jones Industrial Average fell 56.43 points, or 0.13 per cent, to 44,438.51, the S&P 500 rose 19.17 points, or 0.31 per cent, to 6,217.23 and the Nasdaq Composite rose 163.36 points, or 0.81 per cent, to 20,365.78. MSCI's gauge of stocks across the globe rose 2.62 points, or 0.29 per cent, to 920.02 after hitting an intraday record of 920.24, while the pan-European STOXX 600 index closed up 0.18 per cent, lifted by renewable energy and luxury stocks. Longer-dated U.S. Treasury yields rose, with the benchmark U.S. 10-year note up 4.9 basis points at 4.298 per cent. British government bond yields surged, at one point jumping nearly 23 basis points, the most since October 2022, after finance minister Rachel Reeves appeared visibly distressed in parliament, a day after the government sharply scaled back plans to cut benefits. The yield on the 10-year government bond, or gilt, was last up 16.8 basis points at 4.621 per cent. Sterling tumbled 0.84 per cent to $1.3628 after dropping as much as 1.35 per cent and was on pace for its biggest daily percentage drop since June 17. The dollar index, which measures the greenback against a basket of currencies, rose 0.19 per cent to 96.82 and was on track to snap a streak of nine straight declines, with the euro down 0.1 per cent at $1.1793. President Donald Trump said on social media on Wednesday that the U.S. has struck a trade deal with Vietnam. He had previously said he was not considering extending the deadline for countries to negotiate trade deals, even as negotiations with top trade partner Japan failed to make headway, although he expected a deal with India. "The Vietnam-U.S. trade deal that was announced obviously alleviates one piece of the uncertainty puzzle around trade, not only because of the direct impact, but also perhaps as an indicator that there's more to come here over the coming week or so, all of which would help to alleviate what's been a major source of uncertainty for the last three months," said Baird. Investors were also watching for signs of progress in Trump's massive tax and spending bill - which is expected to add $3.3 trillion to the national debt, slash taxes and reduce social safety net programs. Republicans in the House of Representatives teed up a procedural vote on the bill that could reveal whether the party has enough support to pass it out of Congress. U.S. crude jumped 3.09 per cent to $67.48 a barrel and Brent surged to $69.10 per barrel, up 2.98 per cent on the day as Iran suspended cooperation with the U.N. nuclear watchdog.
Yahoo
27-06-2025
- Business
- Yahoo
Consumers Shrug Off Geopolitical Conflict to Send Sentiment Higher
The Michigan Consumer Sentiment Index improved to 60.7 in June, ticking higher than its preliminary reading. Consumers reported improved sentiment for the first time in six months. Consumer expectations improved by more than 20% amid higher optimism over personal finances and business conditions, while inflation expectations also improved. The reading is still lower than the post-election bump in December as worries over the impacts of tariffs economic effects of the conflict in the Middle East didn't weigh on consumers' minds in June as sentiment continued to inch higher and inflation concerns faded. The Michigan Consumer Sentiment Index improved in June to 60.7, a tick higher than its preliminary reading and 8.5 points higher than the prior month. It was the first improvement of the closely followed survey results in six months. The reading comes after a similar survey ticked lower this month. Consumers were still worried about tariffs but were more optimistic about personal finances and business conditions. The survey that ended on Monday also showed that the U.S. airstrikes on Iran didn't impact consumers' feelings about the economy. 'It's not that consumers don't recognize the risks that are present; they do. Instead, they appear to be adapting to the new reality of geopolitical instability and fluid policy, and the sense that developments can change the narrative—and the resulting outlook—meaningfully and with little warning,' wrote Jim Baird, chief investment officer with Plante Moran Financial Advisors. Sentiment is still about 18% lower than the December 2024 post-election surge. Pessimism about the labor market and worries that tariffs will raise prices have faded but still persist. Inflation expectations improved, as consumers predicted prices would increase by 5% over the next year, lower than May's expectation of 6.6%. 'Consumers feel they have some breathing room given that the historically high tariffs announced earlier this year have not been sustained, and the worst-case scenarios for the economy have not come to fruition,' said Survey Director Joanne Hsu. Read the original article on Investopedia
Qatar Tribune
08-06-2025
- Business
- Qatar Tribune
US stocks edge toward records with inflation data in focus
Agencies New York The US stock rebound has driven key indexes to the cusp of record levels, with fresh economic data and trade and fiscal policy developments set to test whether equities will get an extra push higher in thenear term. A monthly US inflation report headlines the events for markets in the coming week. Equities have bounced back from a steep fall in April, sparked by concerns about the economic fallout from President Donald Trump's tariff plans. Stocks ended the week on a high note, with the S&P 500 closing on Friday above 6,000 for the first time since late February, buoyed by a monthly US jobs report that calmed worries about theeconomy. The benchmark S&P 500 ended on Friday 2.3 percent off its record closing high from February. 'I'd still say it's a cautious tone' in the market, said Jim Baird, chief investment officer with Plante Moran Financial Advisors. Despite a 'recovery off the lows, I still think it's a market that is looking for greater clarity.' Some uncertainty stems from how the US economy is weathering the shifting trade backdrop. Trump has eased back on some of the harshest tariffs since his April 2 'Liberation Day' announcement sent stocks tumbling, but investors are waiting to see how other levies may be rippling through the economy. The consumer price index report for May, due on Wednesday, could give insight into the tariff impact at a time investors are wary of any flare-ups in inflation. 'Consumers are feeling the impact of higher prices and if there are indications that near-term inflation could re-accelerate, that is going to put further pressure on discretionary spending and ultimately could lead to a more pronounced slowdown in growth,'Baird said. The CPI report will be one of the last key pieces of data before the Federal Reserve's June 17-18 meeting. The US central bank is widely expected to hold interest rates steady at that meeting, but traders are pricing in nearly two 25-basis point cuts by the end of the year. 'If we see inflationary data that defies what people are concerned about based on this tariff talk and it comes in cooler, then that could also be a catalyst to at least test those old highs,' said Jay Woods, chief global strategist at Freedom Capital Markets. US stocks closed higher on Friday, with the Dow and S&P 500 gaining 1 percent and the Nasdaq climbing 1.2 percent. For the year, the S&P 500 is up 2 percent. But the index has stormed back over 20 percent since April 8, at the depth of the stock market's plunge on concerns over the tariff fallout. Investors also are grappling with uncertainty over a sweeping tax-cut and spending bill under review in the US Senate. Wall Street is monitoring how much the legislation could stimulate economic growth, but also inflate the country's debt burden as widening fiscal deficits have become a central concern for markets in recent weeks. 'As debt increases, it has a greater negative impact on growth,' said Kristina Hooper, chief market strategist at Man Group. The legislation also appeared to be the source of a severe rift between Trump and Tesla chief Elon Musk, which weighed on stock indexes. Former Trump ally Musk called the bill at the heart of Trump's agenda a 'disgusting abomination,' while Trump said he was 'disappointed' by the billionaire's public opposition. Trade talks also remain at the forefront of markets, with a 90-day pause on a wide array of Trump's tariffs set to end on July 8. Trump said on Friday three of his cabinet officials will meet with representatives of China in London on Monday to discuss a trade deal. 'When it comes to policy from Washington, there are still big question marks,' said Bob Doll, chief investment office at Crossmark Global Investments.
