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

UPI News

The Federal Reserve won't wait until inflation hits 2% annually to cut interest rates, Chairman Jerome Powell said Monday at the Economic Club in Washington, D.C.

Fed Chair Jerome Powell backs interest rate cut before inflation drops to 2%

Reuters

TOKYO (Reuters) - Japan's core consumer inflation probably picked up in June for a second straight month, a Reuters poll of 18 economists showed, keeping the central bank under pressure to raise interest rates.

Japan consumer inflation to quicken as BOJ weighs interest rate hikes: Reuters poll

(Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Monday said "confidence is growing" that inflation is heading toward the U.S. central bank's 2% goal, the bar that policymakers have set for cutting interest rates. "Confidence is growing that we are getting nearer a sustainable pace of getting...

Confidence is growing on winning inflation fight, Fed's Daly says

California State

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

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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

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

Scripps News

As Frito-Lay profits fell, company leaders say some consumers are shying away from the brand. The company said in response, it will need to offer more promotions to win back customers.

Frito-Lay suggests lower prices could win back inflation-weary consumers

Nothing like a little disinflation to make investors feel less deflated about what the Fed might have in store for us. The US economy got a jolt of good news Thursday when the Labor Department reported that monthly inflation fell in June, strengthening the case for the Federal Reserve to cut interest rates in the coming months.

Hope for Rate Cuts Gets a Big Boost from Slowing Inflation

Pennsylvania State

WASHINGTON (Reuters) -The FBI said on Monday it has gained access to the phone of the Thomas Matthew Crooks, the suspect in the shooting of former President Donald Trump, as it continues to investigate his motive for the crime. The FBI stressed that its investigation into Saturday's shooting, which is...

FBI says it has gained access to Trump shooting suspect's phone

Virginia State

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Cheryl E Preston

Virginia fans of The Bold and the Beautiful are pretty much unified in their expectations of what will happen between Thomas Forrester (Matthew Atkinson) and Paris Buckingham (Diamond White), who recently announced their engagement.

The Bold and the Beautiful fans believe Thomas will dump Paris for Hope

(Reuters) -The dollar dropped on Thursday after data showed headline consumer prices unexpectedly fell in June, while a sharp gain in the Japanese yen sparked speculation of a possible intervention in the currency.

Dollar drops, yen surges as consumer prices fall in June

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

Chicago, IL

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?

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

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 global currencies like the euro and Japanese yen. American tourists enjoyed greater buying power abroad. The Fed expects to cut rates once in 2024...

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

New York Post

JPMorgan Chase CEO Jamie Dimon warned that inflation and interest rates may stay higher for longer than expected, even as three of the biggest US banks posted solid quarterly results. 

“There has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world,” Dimon said. “Therefore, inflation and interest rates may stay higher than the market expects.”

Inflation decelerated in June for the first time in four years, a welcome change many hope will push Federal Reserve Chair Jerome Powell — who has...

JPMorgan CEO Jamie Dimon warns inflation and interest rates may stay higher for longer than expected

NewsByJoshua

So, Ford's CEO Jim Farley dropped some pretty big news recently, and it might just shake up how we think about electric vehicles (EVs). Speaking at the Aspen Ideas Festival, Farley laid out what he sees as a necessary shift in the automotive industry—especially for those of us accustomed to big, powerful vehicles.

Ford CEO Jim Farley Warns of ‘Radical Change’ and Says EV Batteries Will ‘Never Be Affordable’

MOSCOW (Reuters) -A new hearing in the espionage trial of Wall Street Journal reporter Evan Gershkovich has been brought forward to July 18 from Aug. 13, the Russian court hearing his case said on Tuesday. Gershkovich, a 32-year-old American journalist who denies any wrongdoing, went on trial behind closed doors...

Russian court hearing of jailed US reporter Gershkovich brought forward to July 18

Josue Torres

California Governor Gavin Newsom announced this week that in a significant move to alleviate the financial burden on residents, the state has cleared water and wastewater utility bills for 4 million Californians.

California forgives water utility bills for 4 million residents

NewsBreak

Japan households' inflation expectations heighten as wage hikes broaden, surveys show

TOKYO (Reuters) -Nearly 90% of Japanese households expect prices to rise a year from now, a quarterly central bank survey showed on Friday, a sign of...

Japan households' inflation expectations heighten as wage hikes broaden, surveys show

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