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February 20th, 2014
10:52 AM ET

Jack Lew on Minimum Wage, Immigration and Bitcoin

By Gregory Wallace

Jack Lew sees good signs for the economy both on Capital Hill and Main Street.

And his message to the rest of the world: there's work to be done.

The Treasury Secretary said he is encouraged by Congress, which in recent months agreed on a budget,spending bill and debt limit measure.

"Maybe - just maybe," Lew said, "we'll be able, for a couple of years, to keep doing business that way."

By handling these matters, Washington is sending a worldwide message, one Lew says he'll bring to a gathering of global financial leaders this week in Australia.

Lew spoke in an interview with CNN Chief Business Correspondent Christine Romans as he prepared for that G20 meeting. Here are five highlights from that interview:

1. Thanks, Washington: Last year's government shutdown and the brinkmanship before it took a toll on the economy. But what matters is that Washington is getting its act together.

"The last four months have been very different from the prior two years," he said.

And it's showing.

"You look at the economic growth over the last six months - (there's a) decided arc of progress," he said, specifically citing "sustained job growth."

But Lew acknowledged room for growth. The numbers support that: hiring in December and January was weak and far below expectations.

MORE.

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Filed under: Economy • Money
April 24th, 2013
06:56 AM ET

Rich get richer as bottom 93% see net worth fall – Christine Romans reports

During the first two years of the economic recovery, the rich got richer, while the lower 93% of Americans saw their mean household net worth fall 4% to $133,000. According to Pew, the wealthiest 7% saw their mean household net worth jump 28%, hitting more than three million dollars in 2011.

Researchers attribute the uneven recovery to the fact that affluent households own more stocks and other financial holdings that have been growing in worth. At the same time, the housing market, which is the biggest investment for many people in the lower 93%, has remained flat.

Christine Romans details the report results and discusses the impact a fake Associated Press tweet had on the market in today's Minding Your Business segment.

 


Filed under: Apple • Minding Your Business • Money
March 28th, 2013
07:36 AM ET

Ivan Watson: Cyprus banks reopen under tight security and strict 'draconian' measures, but 'situation's pretty calm'

FROM CNNMONEY:

For the first time since the euro was launched on Jan 1, 1999, a member country has restricted how much money individuals and companies can take across its borders.

The tiny island nation put the extensive measures in place to prevent a run on its banks as they reopened around noon local time (6 a.m. ET) for the first time since March 16.

Cypriots have been queuing at cash machines since then as it became clear that deposits would be raided as part of a bailout by the European Union and International Monetary Fund.

READ MORE: Cyprus banks to reopen with strict cash limits


Filed under: bailout • Money • Stocks
March 20th, 2013
07:33 AM ET

MYB: Markets jittery with news Cyprus bailout is in jeopardy

Christine Romans is minding your business with the latest on U.S. stock futures and world markets. For Wall Street, it’s all about conditions in Europe this week. Stock futures are up right now, but the possible bailout for the tiny island nation of Cyprus has raised concerns in the market. “The Dow was whipsawed yesterday in this country because we're watching what happens there,” Romans reports.

“If Cyprus doesn't get a bailout, it could go bankrupt, exit the Euro-zone and lead to financial instability at exactly the wrong time for the world economy.” A big part of the $13 billion plan, a major bank fee, was rejected last night after protests in Cyprus. “And now a bailout of the country is in jeopardy.”

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Filed under: Minding Your Business • Money • Stocks • World
March 14th, 2013
07:02 AM ET

MYB: Dow on best streak since 1996, Samsung unveils new Galaxy S4

Christine Romans is minding your business with more good news on U.S. stock futures and markets. The Dow has been up for nine straight days, its best streak since 1996. "Remember that movie 'Fargo'?" Romans asks. "That was the last time you saw a winning streak like this."

Also, the And Samsung is expected to unveil the Galaxy S4 today. Samsung and Apple have been competing heavily over their share of this market, Romans reports. "This is really an interesting food fight for dominance in the smartphone world."

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Filed under: Apple • Minding Your Business • Money • Samsung • Smart phones • Stocks
May 22nd, 2012
09:39 AM ET

Woman returns $1,800 found in ATM

When Amanda Allen pulled up to an ATM in Florida, she found quite a surprise: $1,800. While some people may be inclined to keep the money, Allen says she immediately knew that she had to call the police and try to return the cash to it's rightful owner.

“I did what my heart told me to do,” Allen says on Early Start this morning, explaining that the town is filled with hard-working people and she didn't want to take someone else’s hard-earned money.

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Filed under: Money