GBP/USD declines as Fed delays September cut, US data bolsters Dollar
GBP/USD declines following a Federal Reserve decision to maintain interest rates without guidance for September. US unemployment claims decrease to 218k, reflecting a robust labor market that supports the USD. Year-on-year Core PCE in June rises to 2.8%, with headline PCE at 2.6%, both figures exceeding estimates. During Thursday’s North American session, GBP/USD experienced modest […]
The inflation measure favored by the Fed rises as tariffs increase prices, raising doubts about a rate cut in September.
The Federal Reserve’s preferred measure of inflation saw a slight decline in June as tariffs on imported goods began raising costs for some products. The Personal Consumption Expenditure (PCE) price index climbed by 0.3% last month, aligning with economists’ predictions from a Reuters survey. Year-over-year, PCE increased by 2.6%. Core PCE, which strips out the […]
Fed is likely to maintain interest rates and indicate when a cut may occur.
The Federal Reserve is likely to keep its policy rates unchanged for the fifth consecutive time. The wording of the statement and comments from Chairman Powell could shed light on future policy directions. If investors are optimistic about potential interest rate cuts in September, the US dollar may weaken. The Federal Reserve is set to […]
Why some Social Security recipients may have their payments cut by as much as 50%
Changes to Social Security Payments Due to Overpayment Recovery Many Americans are now facing cuts to their Social Security payments by as much as 50% due to a new overpayment recovery policy. Starting in late July, the Social Security Administration (SSA) will begin withholding up to 50% of monthly benefits from beneficiaries who were previously […]
Joni Ernst Has Extensive List Of Wasteful Spending She Wants To Cut From Trump Administration
On Wednesday, Iowa Republican Sen. Joni Ernst published a report outlining 12 projects that are either exceeding their budgets or experiencing significant delays. Ernst’s 50-page report follows a letter from Transport Secretary Sean Duffy to Vice President J.D. Vance, which identified 14 Department of Transport projects with cost overruns of at least $1 billion or […]
House GOP Takes Steps to Support Anti-Conservative ‘Democracy’ Group That Trump Aims to Cut Funding For
House Republicans Request Funding for Organizations House Republicans are urging the Trump administration to allocate hundreds of millions of dollars to various organizations, arguing that there has been a long-standing bias against conservatives, which includes censorship of dissenting opinions and purported interference in diplomatic matters. In May, the Trump administration’s Office of Management and Budget […]
Reasons behind Trump’s decision to cut NPR’s federal funding and its future implications
NPR has faced ongoing criticism from President Donald Trump and some Republicans, who have labeled it a left-leaning organization unworthy of taxpayer support. Recently, following years of jokes and debates, federal funding for NPR was cut. Trump’s retirement proposal, which includes over $1 billion in reductions to the Corporation for Public Broadcasting (CPB)—the funding source […]
GOP Lawmaker Aims to Cut Additional Biden Green Initiatives
Texas Republicans Propose Bill to Repeal Biden’s Climate Regulations On Friday, Texas Republican Representative Craig Goldman unveiled a new piece of legislation aimed at rolling back key provisions of former President Joe Biden’s prominent climate initiative from 2022. Goldman’s office asserts that the Homeowner Energy Freedom Act would free up about $5.7 billion for taxpayers […]
Intel plans to cut thousands of jobs by the end of the year amid a dismal outlook.
Intel Announces Workforce Reductions and Revised Financial Outlook On Thursday, Intel disclosed plans to reduce its workforce to 75,000 by year-end, a significant drop from 99,500 at the close of 2024. The Santa Clara, California-based semiconductor giant shared these layoff projections while anticipating a more pronounced third-quarter loss than what analysts had projected, despite some […]
Nancy Mace Proposes Legislation to Cut Funding for Animal Testing at NIH
On Thursday, Rep. Nancy Mace (R-SC) proposed a bill aimed at reimbursing the National Institutes of Health (NIH) for painful experiments conducted on dogs and cats. This move follows new insights from the Taxpayer Watchdog group, Whitecoat Waste Project (WCW). WCW revealed troubling details about cruel experiments funded by taxpayers, including the well-known Gospel Experiment. […]