Markets Insider

Trump's vows to carry out a major deportation campaign is a stagflationary threat, Adam Posen told Bloomberg TV. The think tank expert says this would lead to a manufacturing-centered recession. Adding to inflation risk are also Trump's trade proposals, as he pledges to lift tariffs. Donald Trump's vow to initiate...

Trump's pledge to deport the most US workers in history could trigger recession and an inflation spike, economist says

An AI-driven stock market bubble could burst early if Trump wins the 2024 election, according to Capital Economics. Trump's proposed policies on tariffs and immigration could slow economic growth and spark higher inflation, the firm said. Higher inflation would restrict the Federal Reserve's ability to cut interest rates. The ongoing...

Trump's promise of tariffs and deportations could pop the stock market bubble if he wins a 2nd term, Capital Economics says

Washington, DC

NBC News

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates. Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to be hit.

Powell indicates Fed won't wait until inflation is down to 2% before cutting rates

Fortune

Former President Donald Trump has said that should he win a second term he would implement a 10% tariff on all foreign goods coming into the U.S. Stubbornly high inflation has been showing signs of abating in recent months, but one prominent research firm is betting it’s set to rise. And the reason? To paraphrase a Clinton-era political saying, it’s the election, stupid.

Inflation will go up regardless of who the next president is, but under Trump’s tariffs it would be higher for longer, Oxford Economics says

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

Pennsylvania State

Bucks County Beacon

With an assassination attempt on Donald Trump at a rally in Pennsylvania on July 13, 2024, the U.S. experienced another violent episode in its increasingly polarized politics. Former President Trump, who’s about to formally become the GOP nominee for president in the 2024 election, survived the attempted assassination when, initial reports said, a bullet grazed his ear . But one rally attendee was killed , more spectators were injured and the suspected gunman is also dead. The Conversation’s politics editor, Naomi Schalit, spoke with University of Massachusetts, Lowell, scholar Arie Perliger after the event. Perliger offered insight from his study of political violence and assassinations. Given the stark political polarization in the U.S., Perliger said, “it’s not a surprise that eventually people engage in violence.”

‘One Inch from a Potential Civil War’? Trump Shooting a Close Call for American Democracy

Canadian Prime Minister Justin Trudeau said he was "sickened by the shooting" while the UK's newly elected Prime Minister Keir Starmer said he was "appalled by the shocking scenes" at the rally. In the U.S., both Republicans and Democrats alike came together to criticize the attack and expressed their well...

World leaders condemn assassination attempt on Trump: 'Tragedy for democracy'

Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at the average lender. 30yr fixed rates had...

Mortgage Rates Drop Sharply After Inflation Data

Money

The Federal Reserve is now widely forecasted to cut interest rates by September after new inflation numbers came in lower than expected. The latest consumer price index (CPI) report showed that inflation has cooled to a 3% annual rate, tying the lowest level since March 2021. Overall, prices declined 0.1% for the month.

Get Ready for Interest Rate Cuts in September, Analysts Say

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

This story is part of CNBC Make It's The Moment series, where highly successful people reveal the critical moment that changed the trajectory of their lives and careers, discussing what drove them to make the leap into the unknown. Jay Chaudhry never thought he'd run a business, amass a fortune...

65-year-old quit his job and emptied his life savings to start a business—now he's worth $11 billion

North Carolina State

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Town Talks

When you're pulled over by police in North Carolina, it's important to know your rights and responsibilities, both as a driver and a passenger. Here’s a breakdown of what the law says about interactions with law enforcement during a traffic stop.

Can police question passengers when pulling over a driver in North Carolina? What you need to know

CBS News

Consumer prices are continuing to moderate, with June data showing U.S. inflation is once again cooling after unexpectedly high readings earlier this year. The new report could help bolster the case for an interest rate cut from the Federal Reserve in September.Consumer prices declined 0.1% in June from May, with inflation curtailed by lower gas prices and a smaller increase in costs at the grocery store. On an annual basis, inflation registered at 3.0%, down from 3.3% in May, indicating that inflation is cooling faster than expected, as economists polled by FactSet had forecasted an increase of 3.1%.The reading is...

In a boost for consumers, U.S. inflation is cooling fast

Video shows the body of the alleged shooter on a building roof overlooking President Trump's Pennsylvania rally.

Video: Body of alleged shooter in Pres. Trump's assassination attempt found on roof

New York City, NY

Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Indiana State

Worker shortages have eased a bit, but companies still look closely at quality of life when choosing a location that will attract skilled employees. CNBC’s annual ranking of state business climates considers quality of life among ten categories of competitiveness. Quality of Life metrics include Crime, Child Care, Health...

These are America's 10 worst states for quality of life in 2024

Reuters

(Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan. The shock shooting on Saturday of former President Donald Trump, who is seeking a return to the White House, is reverberating around world markets, with bets that the incident boosts his re-election chances steepening the Treasury yield curve and lifting stock futures first thing.

Morning Bid: Trump hit steepens curve; China's economy judders

The US economy is not in a recession, even with the slowing labor market. "If this isn't a soft landing, I don't know what is," Julie Su, acting labor secretary, told BI. It could give the Fed the confidence it needs to cut interest rates in September. Long-awaited financial relief...

The 'coveted soft landing' is here, Biden's top labor official says — and it could set Americans up for an interest rate cut in September

New Jersey State

Morristown Minute

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

NewsBreak

The Fed may soon cut interest rates. That could make your next trip abroad more expensive

The Federal Reserve raised interest rates aggressively starting in March 2022 to tame high inflation. That underpinned historic strength in the U.S. dollar versus many major...

The Fed may soon cut interest rates. That could make your next trip abroad more expensive

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