Fortune

Get ready for a bonanza of rate cuts from the Federal Reserve that starts in a few months and extends all the way into next summer, according to analysts at Citi Research. In a note on Friday, the bank cited fresh signs of a slowing economy for its view that the Fed will trim rates by 25 basis points eight times, starting in September and extending to July 2025.

The Fed could slash rates by 200 points over 8 straight meetings as the economy heads for a sharper downtrend, Citi says

The Federal Reserve is widely expected to maintain its influential interest rate at its current 23-year-high level when officials make policy decisions on Wednesday. Inflation moderated in the second quarter and the job market has continued softening, factors that will likely encourage the Fed to cut interest rates in the coming months.

What To Expect on Interest Rates From Next Week’s Fed Meeting

Markets Insider

"Although it might already be too late to fend off a recession by cutting rates, dawdling now unnecessarily increases the risk," Bill Dudley wrote.

It may already be too late for the Fed to stop a recession, former central bank president says

David Rosenberg, Rosenberg Research president, joins 'Squawk on the Street' to discuss Rosenberg's take on the Federal Reserve's move this week, why the economy is in need of rate cuts sooner than September, and the focus on central bank meetings around the world.

Fed should go and cut rates this week, says Rosenberg Research president

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

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

Washington, DC

Deryl McKissack is no stranger to spotting toxic traits. McKissack, 63, is the founder and CEO of Washington D.C.-based construction firm McKissack & McKissack, which she launched with $1,000 from her savings in 1990. She churned through employees who weren't the right fit in her company's early years and the business struggled, she says.

63-year-old CEO shares the top 3 red flags she sees in employees: ‘No one wants to be in their presence'

North Carolina State

Town Talks

In North Carolina, the divorce process can be challenging, particularly due to the mandatory one-year separation requirement. This law mandates that couples must live separately for at least a year before filing for divorce, a rule that can be frustrating for many.

You might be granted a divorce in North Carolina if your spouse is ‘incurably insane.’ Here’s how

The US economy is set to enter a recession by early next year, according to Steve Hanke. The economist pointed to a troubling trend in the money supply in an interview on YouTube this week. He predicted inflation will likely fall below 2% as economic activity slows. The US hasn't...

Why a recession will strike in 2025, according to a veteran economist

CNBC brings you fast, accurate, and actionable business news and market updates.

News Update – Late Morning

A U.S. appeals court on Monday blocked the U.S. Transportation Department's new rule requiring upfront disclosure of airline fees pending a full review of the regulation. The DOT issued final rules in April requiring airlines and ticket agents to disclose service fees alongside the airfare, saying it would help consumers avoid unneeded or unexpected fees.

Appeals court blocks U.S. airline fee disclosure rule

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

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The HD Post

CALIFORNIA – Proposition 33, Justice for Renters Act, will be on the California ballot, November 5, for voters to decide on removing a rent control ban. According to Ballotpedia, a "yes" vote repeals the Costa-Hawkins Rental Housing Act (1995), which will allow cities and counties to limit rent on any housing.

Prop. 33 will allow California voters to decide on removing rent control ban

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

Bucks County Beacon

Most Americans want Donald Trump to drop out of the race. Most Americans believe Trump is dishonest. Most Americans reject Trump’s vision for the country. And most Americans don’t trust Trump to handle a crisis.

AP-NORC Poll: About 60 Percent of Americans Want Trump to Withdraw from Presidential Race

As chairman of the U.S. Senate Committee on Health, Education, Labor & Pensions, Senator Bernie Sanders released a June report entitled “ By the Wealthy, for the Wealthy: The Coordinated Attacks on Public Education in the United States .” The report is a brief but thorough (16 pages of text, 4 pages of footnotes) takedown of the current wave of attempts to end public education as we know it.

Senator Bernie Sanders Warns in New Report of Right-Wing Billionaire Plot to Sabotage Public Education in Order to Privatize It

Conservatives have done the United States a huge favor by explaining in detail what they’ll try to do if Donald Trump is reelected. Project 2025 , a “presidential transition project” of the Heritage Foundation, helpfully lays out how a group of former Trump officials would like to transform the country into a right-wing dystopia where the rich thrive and the rest of us die aspiring to be rich.

Project 2025’s Plan to Gut Medicare and Medicaid

Here’s a story that’s making waves in the retail world: Conn's HomePlus, a well-known discount furniture chain, has just filed for Chapter 11 bankruptcy. And the news isn’t just about numbers—it’s about real people and places, so let’s dive into what’s happening.

Another retail giant has just filed for Chapter 11 bankruptcy and is shutting down several stores.

Goldman Sachs issued a warning that an S&P 500 correction is imminent and advised investors against buying the dip. In a note to clients, an analyst at the investment bank highlights several indicators pointing towards a downturn in the market. He points out that July 17 typically marks the end...

Goldman Sachs says S&P 500 correction is coming, urges investors not to buy dip

Miami, FL

MIAMI — Nicole Crooks stood in the plaza of the historic Lyric Theater, a royal blue hat shielding her from the midday sun that baked Miami. In its heyday, the theater, in the city's Overtown neighborhood, was an important cultural hub for the Black community. James Brown, Sam Cooke, Ray Charles, Aretha Franklin and Ella Fitzgerald performed there, in the heart of "Little Broadway," for esteemed audience members such as Jackie Robinson and Joe Louis.

Climate change is gentrifying neighborhoods. In Miami, residents fear high prices — and a lost soul

The Associated Press

FRANKFURT, Germany (AP) — Europe’s economy enjoyed modest growth in the April-June quarter even as the U.S. outperformed expectations, highlighting a persistent transatlantic growth gap with Germany, the leading European economy, remaining in the dumps and as hesitant consumers save more, rather than spend on new houses or cars.

Fed will wait for July inflation data before signaling September rate cut: Goldman Sachs' Mericle

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