Markets Insider

The S&P 500 will plunge 32% in 2025 as a recession finally hits the US economy, BCA Research predicts. The firm said the Fed will fail to prevent a recession as it takes its time cutting interest rates. Rising unemployment and constrained credit will curb consumer spending, worsening the downturn.

The stock market will drop 32% in 2025 as the Fed fails to save the economy from a recession, research firm 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

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

Reuters

(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

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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

New York City, NY

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

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

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?

California State

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

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

Kentucky State

Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

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

Virginia State

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

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

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

Georgia State

The Current GA

People held in Georgia immigrant detention centers will soon face new challenges in their search for lawyers to represent them in immigration court, a development that will likely doom many people’s chances of fighting deportation.

For migrants in Georgia, fighting deportation will become harder. Here’s why.

Illinois State

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

The International Monetary Fund has warned that stubborn inflation could keep interest rates higher for longer than expected, increasing fiscal and financial risks around the world.

New inflation warning: Get used to high interest rates, IMF warns

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

Yields and prices move in opposite directions and one basis point equals 0.01%. On Monday, Powell said the central bank will not wait until inflation has reached its 2% target rate before cutting interest rates. Waiting to cut rates until the target has been reached would mean "you've probably waited...

10-year U.S. Treasury yield edges lower following Powell commentary

Cleveland-Cliffs on Monday said it agreed to buy Stelco Holdings in a cash-and-stock deal worth roughly $2.5 billion. The purchase price represents an 87% premium on Stelco's closing price of C$37.36 on the Toronto Stock Exchange on Friday. The transaction adds 1,800 United Steelworkers members to Cleveland-Cliffs' workforce. Cleveland-Cliffs (CLF)...

Cleveland-Cliffs To Buy Canadian Steelmaker Stelco for $2.5 Billion

It’s impossible to keep up with everything going on in financial markets and the economy these days. That’s where The 5, a new feature for Money & Markets Daily, comes in…. Let’s start your week off right by exploring the most significant trends and opportunities you need to...

Expect a “Surprise” Fed Turnaround for Summer ’24…

NewsBreak

US Economy News Today: Powell Says He Sees Inflation Improvement

Welcome to Investopedia's economics live blog, where we explain what the day's news says about the state of the U.S. economy and how that's likely to...

US Economy News Today: Powell Says He Sees Inflation Improvement

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