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

FRANKFURT — The European Central Bank is set to keep interest rates steady this week after cutting in June for the first time since September 2019. The hold would come amid uncertainty about underlying inflation dynamics, especially stemming from the labor market, which have weighed on the central bank's resolve to embark on a rapid path of cuts.

European Central Bank set to hold rates with inflation picture muddying demand for cuts

MUMBAI (Reuters) -India's central bank said on Thursday that the economy's natural rate of interest has increased since the pandemic and will rise further, driven by the growth of potential output, which analysts said could limit the scope to ease monetary policy. The natural rate of interest is associated with...

India cenbank pegs natural rate higher, analysts caution on policy easing

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

Reuters

LONDON (Reuters) -Wages in Britain grew a bit more slowly but still increased at a pace that would normally be too strong for the Bank of England, leaving in doubt the possibility of an interest rate cut in two weeks' time.

UK pay growth slows but remains high for Bank of England

Illinois State

Joliet, IL

Industry monitor IIR told Reuters on Wednesday most of the refinery's units were expected to be down for a week with plans to restart over the upcoming weekend. The power outage took 16 units offline on Monday night, according to data from IIR. "Our refinery lost power abruptly during the...

Exxon's Joliet, Illinois, refinery still without power after tornado

New York City, NY

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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

High interest rates and tight housing supply are hurting both homebuyers and sellers. The extent of the residential real estate crisis varies widely from state to state, and in some top states, climate risks are also rising. Because companies consider the residential real estate market when deciding where to locate,...

These are America's 10 best states for buying and selling a home in 2024, with a big caveat at No. 1

The Social Security Administration is upgrading its "my Social Security" personal accounts online. The goal is to provide a simpler login experience and more secure online access, the agency said. But first, some users may have to log in and transition their current accounts. The Social Security Administration is updating...

Why the Social Security Administration may want you to update your personal account online

Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year. Today brough the PRODUCER Price Index (PPI), and the message was a bit different. While PPI is not in the same league as CPI in terms of its...

Mortgage Rates Shrug Off Seemingly Threatening Inflation Data to hit 5 Month Lows

Saira Malik, Nuveen CIO, joins 'Closing Bell' to discuss the market rotation, how to position, and tech moves.

Small cap rotation may last another four weeks, says Nuveen's Saira Malik

California State

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NewsByJoshua

In a concerning trend for California, numerous large companies are gearing up for significant layoffs, affecting thousands of workers across various industries. According to the WARN Tracker, California has seen a staggering 37,086 WARN layoffs this year alone, impacting 713 businesses statewide.

Concerns Rise as Massive Layoffs Hit California

Laura Strickler, Didi Martinez, Chloe Atkins and Julia Ainsley. Two former officials who handled immigration issues for then-President Donald Trump say that a "whole of government" approach costing billions would be needed to mount the "largest deportation effort in American history" promised in the Republican convention platform if Trump is re-elected.

How would mass deportation of migrants under Trump actually work?

The election outcome and future policy could impact the municipal bond market, experts say. A popular asset for higher earners, muni bonds generate interest that is federally tax-free and avoids state levies when investors live in the issuing state. However, there's uncertainty around interest rates, income taxes and public financing.

The election could have a 'massive impact' on the municipal bond market, analyst says

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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Bucks County Beacon

“[I]nvoking the favor and guidance of Almighty God,” the Constitution of the Confederate States of America composed by southern slaveholders in 1861 sought to “establish justice, insure domestic tranquility, and secure the blessings of liberty to ourselves and our posterity.” The authors of Project 2025, the latest playbook for restructuring the federal government in order to accomplish the policy goals of Christian Nationalists, similarly declare their manifesto will “decide America’s future” by securing their “God-given individual rights to live freely” and exercise dominion over others.

Legislating Inequality: The Christian Confederate Roots of Project 2025

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?

New Jersey State

Trenton, NJ

Morristown Minute

NEW JERSEY - A Costa Rican man residing illegally in the United States was sentenced to 97 months in prison today for laundering over $2 million from wire fraud schemes, U.S. Attorney Philip R. Sellinger announced.

Costa Rican Sentenced to 8+ Years for $2M Elderly Fraud Scheme

World Athletics President Sebastian Coe defended his decision to pay prize money to track and field gold medalists for the first time at the Paris Olympics this summer. Coe told CNBC that it would be "inconsistent" for the sports governing body to benefit from lucrative broadcast and sponsorship deals without compensating its star players.

Olympic track and field gold medalists are about to receive prize money for the first time ever

Amid expectations that the Federal Reserve will cut benchmark interest rates in the coming months, analysts at investment banking company Jefferies anticipate that mortgage rates could reach 6.5% at the end of 2024 and 5.75% in 2025, unlocking $2.7 trillion in refinancing opportunities. “Recent economic data supports a path toward...

Lower rates could support a $2.7T refinance rally: Jefferies

NewsBreak

European Central Bank holds interest rates, says domestic price pressures 'still high'

The European Central Bank left interest rates unchanged on Thursday, after implementing a cut in June. The decision — which keeps the key interest rate at...

European Central Bank holds interest rates, says domestic price pressures 'still high'

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