Columbus, OH

Markets Insider

The booming jobs report and still-high inflation mean the Federal Reserve is likely to hold interest rates steady, even after the ECB's rate cuts.

The Fed's next decision will likely mean Americans are going to wait a lot longer for any interest rate cuts

Wednesday features a one-two punch of news that starts in the morning with the pivotal consumer price index reading for May, and ends with the Fed's policy meeting in the afternoon. Economists expect CPI to show just a 0.1% increase from April, though that still would equate to an aggregate...

Fed meeting and inflation report both hit Wednesday, and the impact could be huge

The Associated Press

WASHINGTON (AP) — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates. After some persistently high inflation reports at the start...

Fed Chair Jerome Powell: US inflation is cooling again, though it isn’t yet time to cut rates

Treasury Secretary Janet Yellen thinks the Federal Reserve could hit its 2% inflation target in 2025, with a soft landing well in her sights. Yellen told Yahoo Finance in an interview published Monday that she does “not see the basis” for a U.S. recession, pointing to the Fed’s caution around cutting interest rates too soon to avoid tipping the economy into the red as “the balancing act that they have.”

Janet Yellen says inflation will return to normal without a recession

US stocks slumped on Wednesday, with major averages down as bond yields rose as Nvidia shares wavered and investors eyed fresh economic data. Nvidia shares slid as much as 1.2% in early-morning trading before paring losses, trading about 0.25% higher shortly after the opening bell. The chipmaker lost over $400...

Stock market news: US stocks slide and bond yields rise as traders eye new economic data

Mediaite

Less than two weeks after casting President Joe Biden as a confused dotard, former Speaker Kevin McCarthy now warns that Biden will be fully prepared for Thursday's debate with Donald Trump.
The post Kevin McCarthy Does U-Turn on Biden’s Mental Faculties, Now Says the President Is ‘Gonna Be Prepared’ for Debate with Trump first appeared on Mediaite.

Kevin McCarthy Does U-Turn on Biden’s Mental Faculties, Now Says the President Is ‘Gonna Be Prepared’ for Debate with Trump

Former House Speaker Kevin McCarthy joins 'Squawk Box' to discuss what Republicans are hoping for in the November general election, how other world leaders view the United States, and much more.

Former House Speaker Kevin McCarthy: Too late for Democrats to find another nominee

CNBC's Julia Boorstin reports on news from the Paramount Global saga.

IAC explores Paramount bid

U.S. stocks drifted on Tuesday ahead of a critical jobs report expected to reveal whether the job market is cooling to Wall Street's hopes, as crude oil prices climbed near their highest levels since April and big stocks faced losses, while Treasury yields eased slightly with hopes of controlling inflation without triggering a recession, and European indexes fell amidst persistent regional inflation concerns.

Wall Street Wobbles as Oil Prices Soar and Jobs Data Looms

New York City, NY

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The e-Texan

New York – As Trump anticipates his sentencing on July 11th in the New York hush money case, Florida Judge Aileen Cannon made a ruling this Monday. Despite rejecting Trump’s legal team's request to dismiss several charges in the classified documents case, she conceded on a minor point. She removed a portion of the charges that referenced an uncharged allegation, but upheld the other charges.

Legal expert says Trump should not be jailed after New York guilty verdict because he is ‘too old’

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Is "inshoring" ready for revolution?

Houston, TX

California State

Insurance premiums are rising in many states following multiple climate disasters. The crisis is altering both the residential and commercial real estate markets, as deals fall apart over the cost and availability of insurance. Because the impact varies from state to state, insurance issues are changing the competitive landscape. An...

Insurance crisis that started in Florida, California is spreading. Your state could be next

Missouri State

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CJ Coombs

The first time my family walked into a Ponderosa Steakhouse was in the late 1960s. It was new and the experience was great. Like other new restaurants, if the management doesn't stay on top, the quality of service can decline. The location we went to did change through the years, but in the beginning, it was great.

The 1960s: the Ponderosa and Bonanza Steakhouses are still around in some states

New York Post

A key measure of inflation pointed to a slowdown in the rate at which the prices of goods are rising – stoking optimism on Wall Street that the Federal Reserve will cut interest rates later this year.

The personal consumption expenditures price index (PCE) – the Fed’s preferred gauge of inflation – rose 0.1% in May compared to the previous month and 2.6% year-over-year, according to the Commerce Department.

The 2.6% rate was a slight improvement from the 2.7% number recorded in April – boosting the case that inflation appears to be easing.



The Fed is aiming to get inflation to 2% before...

Fed’s preferred inflation gauge rose 2.6% in May in signal that prices could be easing

Oil prices have surged over the last three weeks as geopolitical tensions climbed, although concerning economic data in the U.S. could drag prices back down. All eyes are fixed on US inflation data as crude oil prices have maintained their hot streak and are set to end this week with a third weekly gain. Surging geopolitical tensions around Israel and Lebanon have overshadowed slackening economic data from the US in May, with every single day this week posting a day-on-day increase and Brent set to finish the week at $87 per barrel.

Markets Await Inflation Data as Oil Prices Continue to Rally

Reuters

(Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee on Tuesday said he sees some "warning signs" of weakening in the economy, adding that the U.S. central bank's goal is to get inflation down without stressing the labor market.

Fed's Goolsbee sees warnings signs on real economy

USDA loans allow eligible homebuyers to get zero-down-payment mortgages in rural areas. Because they're backed by the U.S. Department of Agriculture, these loans have lower rates and more flexible credit requirements than conventional mortgages. They also don't require private mortgage insurance, which can add more than 2% to your loan annually.

What is a USDA loan and am I eligible?

Although the unemployment rate is just 4%, there is a growing share of young adults not working. "NEETS" are opting out of the labor force by choice. Others, referred to as "new unemployables," are struggling to find employment despite their best efforts. Although the unemployment rate has spent 30 months...

'NEETS' and 'new unemployables' — why some young adults aren’t working

Fremont, CA

At 32, after 12 years of living rent-free with my parents in the San Francisco Bay area, I was ready to move into my own place. I had saved $400,000 and had the flexibility to make the leap, but whether it was uncertain streams of income, wanderlust and mostly, the financial benefits of staying put, something had been holding me back. Until November 2023, when I visited a friend at their Fremont, California, apartment complex.

33-year-old pays $2,146/month for 556-square-foot studio in California furnished 'almost entirely with Costco': Take a look inside

[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]. Federal Reserve Chairman Jerome Powell joins a panel including his global counterparts Tuesday at a European Central Bank forum Tuesday. Powell will join ECB President...

Watch Fed Chair Powell, ECB's Lagarde speak live at central bank policy forum

NewsBreak

10-year Treasury yield falls as Powell says U.S. getting back on 'disinflationary path'

Treasury yields fell on Tuesday after Federal Reserve Chair Jerome Powell cited progress on squashing stubborn inflation. The yield on the benchmark 10-year Treasury note fell...

10-year Treasury yield falls as Powell says U.S. getting back on 'disinflationary path'

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