Judge determines that Trump’s administration’s cut to SNAP benefits is probably illegal
Judge Rules on SNAP Benefits Suspension A federal judge in Massachusetts indicated on Friday that the Trump administration’s decision to halt SNAP food benefits, affecting 42 million people, may be against the law during the ongoing government shutdown. However, the judge did not mandate the White House to tap into emergency funds to maintain these […]
Health insurance costs for 1.7 million Californians on Obamacare will rise sharply as federal support is cut.
Health Insurance Premiums in California Set to Skyrocket Californians renewing their public health plans or enrolling for the first time might be in for a surprise when open registration opens this Saturday. Monthly premiums for plans on the Covered California Exchange, often referred to as Obamacare, are predicted to increase by an average of 97% […]
Almost 100 Jobs Cut at CBS News
Skydance, the new parent company of Paramount, which includes CBS, is set to implement job cuts. These reductions will affect about 1,000 positions overall, with nearly 100 at CBS News alone. There’s a sense that many people might need to explore platforms like Substack. CBS Evening News Co-host John Dickerson wrapped up his tenure at […]
Bitcoin and Ethereum fall after Fed chair suggests that a 25-point rate cut could be the final one in 2025.
Crypto Markets Dip After Fed Chair’s Remarks Cryptocurrency markets experienced a slight decline on Wednesday after Federal Reserve Chairman Jerome Powell suggested that a 25-point rate cut in October might be the last one until 2025. The value of Ethereum, the second-largest cryptocurrency, dropped around 2%, landing just above $3,900. Overall, the entire cryptocurrency market […]
GBP/USD returns to downward trend as Fed rate cut strengthens Dollar
GBP/USD Declines Amid Fed Rate Cut The GBP/USD exchange rate saw a notable drop during the US market session on Wednesday, reaching the 200-day exponential moving average (EMA), which indicates a deeper bearish trend for Cable. It’s striking that the GBP/USD pair has closed lower in eight out of the last nine trading days, with […]
EUR/USD drops as Powell indicates December rate cut is not certain
The EUR/USD pair dropped over 0.43% on Wednesday after the Federal Reserve implemented a “hawkish interest rate cut.” Fed Chairman Jerome Powell emphasized that “a rate cut in December is far from a foreseeable conclusion.” At that moment, the pair was trading near its weekly low at 1.1601, with traders eyeing the monthly low of […]
Bitcoin and Ethereum Drop After Fed Lowers Rates, but Powell Indicates Another Cut is Uncertain
Simply put The CME FedWatch tool, using futures trading data to gauge trader sentiment, indicated a high likelihood of a rate cut. The Conference Board’s Expectations Index, an indicator of business confidence, remains below the level that typically signals an impending recession. Bitcoin is significantly lower than its all-time high reached earlier this month. The […]
‘Scabby the Rat’ mascot cut outside the reopening of famous NYC restaurant Babbo, leading to police raid
Chaos at Babbo’s Grand Reopening The much-anticipated reopening of the famous Italian restaurant Babbo turned chaotic when a giant inflatable rat—known as “Scabby the Rat”—was brought out front, leading to an unexpected intervention by the NYPD at the upscale venue. The union Unite Here Local 25 decided to inflate the rat outside in protest against […]
Implications of the Fed’s recent rate cut for your mortgage
The recent interest rate cut by the Federal Reserve is not going to immediately lower mortgage payments for homeowners. However, it may pave the way for more affordable borrowing, as mortgage rates are expected to drop to their lowest levels in over a year, according to Freddie Mac. On Wednesday, the Fed lowered its key […]
GBP/USD declines following confirmation of Fed rate cut and plans to reduce QE
The GBP/USD pair experienced new falls during intraday trading after the Federal Reserve cut interest rates by 25 basis points on Wednesday, an action that was largely anticipated. The Federal Open Market Committee (FOMC) met the expectations but, interestingly, their lack of strong commentary meant that the market didn’t react dramatically. After the Fed’s announcement, […]