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World Bank president David Malpass, former Under Secretary of the Treasury for International Affairs and a Trump appointee, announced Wednesday he would step down. Malpass began a five-year term on April 9, 2019, according to his bio, but is cutting his run short after Axios reported last fall the Biden administration was seeking to oust him for failing to agree with the administration on climate change. He’ll step down at the end of the fiscal year on June 30 after seeing the multilateral development organization through a global pandemic and a war in Europe that has contributed to food and...

President Obama infamously told Africans they should focus on their “bountiful” wind, solar and biofuel. If they use “dirty” fossil fuels to raise living standards “to the point where everybody has got a car, and everybody has got air conditioning, and everybody has got a big house, well, the planet will boil over.” So when South Africa applied for a World Bank loan to finish its low-pollution coal-fired Medupi power plant, his administration voted “present,” and the loan was approved by a bare majority of other bank member nations. The Obama Overseas Private Investment Corporation refused to support construction of...

The British Prime Minister Theresa May now asking the European Union for a delay on Brexit until June 30th..... Wikileaks tweeting that two Ecuadorean government sources are telling them that its founder Julian Assange will be expelled within "hours to days" from Ecuador's Embassy in London and that there is an agreement with the British authorities to arrest Assange...... The final polls are being published ahead of Israel's election on Tuesday..... Week 21 of the Yellow Vests protests in France... The meeting between Italy's Interior Minister-League Party leader Matteo Salvini and France's National Rally leader Marine Le Pen in Paris...

The American media has focused recently on the newly released Green New Deal (GND), a resolution sponsored by U.S. Rep. Alexandria Ocasio-Cortez and U.S. Sen. Ed Markey that would fundamentally transform America’s energy policy and move closer to their socialist vision for the country. As a resolution, the GND has no power to actually regulate or tax but gives left-leaning congressmen and potential presidential candidates a vehicle to virtue-signal their embrace of a radical, anti-fossil fuel agenda. One day before the much-ballyhooed release of the GND, and flying mostly under the radar, President Trump made an announcement that could have...

President Donald Trump plans to nominate David Malpass, a Trump administration critic of the World Bank, to lead the institution. That’s according to a senior administration official who spoke on condition of anonymity because the official wasn’t authorized to comment publicly on personnel decisions.Trump is expected to make an announcement later this week. Malpass, the undersecretary for international affairs at the Treasury Department, has been a sharp critic of the World Bank, especially over its lending to China. …

China and the U.S. are set to resume trade talks for the first time since June. A meeting between the two countries, which would be between lower-level officials than earlier talks, would mark a breach in the standoff that has arisen since talks broke down in the spring. U.S. officials have repeatedly said they were open to new talks but insisted that China had walked away rather than offer serious reform. It still is not clear if China’s delegation will carry with it a reform offer serious enough to stave off the Trump administration’s threat of former tariffs. The U.S....

Joy Reid has to be the rudest “host” on American TV. On her misnamed AM Joy show, Reid has made an art form out of interrupting and shutting down “guests” who don’t toe her liberal line. We’ve reported how Reid abruptly ended a segment when a conservative Latino tried to mention Planned Parenthood founder Margaret Sanger’s support of eugenics. Then it was an African-American Republican who was chastised by Reid for daring to speak of “illegals.” Today it was the misfortune of David Malpass, who held senior positions in the Reagan and H.W. Bush administrations and now serves as an...

t's The Larry Kudlow Show! The suspect has been caught but there's still lots of information that we want to know. Today on the show, Larry talks with Gary Berntsen,author of "Jawbreaker: The Attack on bin Laden & al-Qaeda." Also on the show is Steven Emerson, executive director of The Investigative Project on Terrorism. Frank Gaffney, founder & president of Center for Security Policy. More great guests include Joe diGenova, founding partner of diGenova & Toensing and Art Hogan, managing director, head of equity research at Lazard Capital Markets. John Batchelor, host of the John Batchelor Radio Show joins Larry....

We expect stronger 3.5% U.S. growth in the second half and a market shift from bonds to stocks as auto production picks up, growth in emerging markets remains strong and near-term concerns get resolved -- about QE2 ending, the debt limit increase, a China hard landing and a quick Greek default. (We think they’ll all be resolved favorably, but even unfavorable outcomes are better than the current uncertainty.)    This year’s soft patch has been exaggerated by the emphasis on the auto sector in the data including ISM, other diffusion indexes, auto sales and industrial production. Jobless claims jumped due to the unique automatic...

Concerns about the end of QE2 have put downward pressure on equities and bond yields. We think this will ease. We expect the consensus outlook to improve as it did in the face of Y2K.  Like the June 30 end of QE2, Y2K crash warnings had a date certain, January 1, 2000, to worry about, causing months of hand-wringing due to the uncertainty.  Equities ended up rallying over 15% in the final three months of 1999 and went higher in following months.  We expect a substantial flow from bonds to equities in coming months as the growth outlook improves, inflation rises...

A new Quinnipiac poll in New York shows Sen. Kirsten Gillibrand (D) way ahead of any of her three possible Republican challengers for U.S. Senate. She beats Bruce Blakeman (R), 44% to 26%, tops David Malpass (R), 45% to 24%, and is ahead of Joseph DioGuardi (R), 43% to 28%. Said pollster Maurice Carroll: "Who are those guys who want to run against Sen. Kirsten Gillibrand? In match-ups, each of the three gets the generic Republican vote. But most voters don't know much about any of them."

How about a senator from New York who actually understands how the economy works? Economist David Malpass is squaring off against former Nassau County legislator Bruce Blakeman in a Republican primary, with the winner taking on U.S. senator Kirsten Gillibrand in November. For over 20 years, I’ve been writing about and interviewing New York politicians. And it always frustrates, but never surprises, when politicians turn out to be clueless on economics. Malpass certainly has an impressive résumé: He was deputy assistant Treasury secretary under Pres. Ronald Reagan, deputy assistant secretary of state under Pres. George H. W. Bush, chief economist...

Hitting Malpass, Mysteriously (Updated)A CapTon commenter posted a link to this video that attacks Republican US Senate hopeful David Malpass for his connection to Bear Sterns, one of the big Wall Street banks that received a taxpayer-funded bailout and has been the object of considerable populist-driven anger ever since. It’s a pretty straightforward hit, except for the very end, where whoever made it has tacked on the memorable endorsement of Bruce Blakeman’s dog that was used in an ad for his master’s very short-lived 2009 NYC mayoral run. Blakeman is, of course, one of Malpass’ GOP primary opponents. I checked...

The Daily Politics by Celeste Katz May 19, 2010 2:44 PM 8 Comments David Malpass and... Bruce Blakeman's Dog? What The... » By Celeste Katz And I thought I was being silly by posting that cartoon this morning! Someone (who, incidentally, won't tell me who he or she is) is passing around the below video, which purports to lump GOP Senate hopeful David Malpass in with the likes of Enron's Ken Lay. It also features a quick flash from an old commercial by a current rival of Malpass, Bruce Blakeman. Not featured is another GOP challenger to incumbent Sen. Kirsten...

My Nov. 10, 2008 column warned that big government was walking away as the knockout winner over the private sector in the financial crisis. But it's going much further than I'd feared. The federal government has accelerated its takeover of the economy, adding a mega-trillion-dollar health care entitlement, despite the damage to health care and the national debt this will cause. Washington is frenetically cutting unfunded checks. Capital is being channeled away from small businesses toward big government. Looming on the horizon is the bailout of state and local governments, which will concentrate more and more of the nation's debt...

The entry of David Malpass into the lists for the Republican nomination for United States Senator from New York is one of those opportunities for which the state has been have been waiting. A former official in the Reagan administration, he is a successful businessman and public intellectual who is short on gimmickry and long on substance. He has thrown his hat into the ring in hopes of gaining the nomination to challenge the Democratic incumbent, Senator Gillibrand. It’s too soon for an endorsement, since the field is not yet complete and the primary is not until September. But it’s...

With all the attention on Iraq, the blowout April jobs report barely made the front pages on the weekend. So allow us to mark the news as the official death of the "jobless recovery." The allegedly "sluggish" economy has now created 867,000 new jobs since the beginning of 2004, 1.1 million since August. Jobs are coming back even in manufacturing, to the tune of 30,000 in the last two months. The civilian unemployment rate fell again to 5.6%, down from the June 2003 peak of 6.3% -- which is below the peak of 7.5% during the recession in the early...