July inflation drops below 3% as Fed considers September rate cut
Housing costs remain high, but insurance premiums are finally starting to stabilize. (iStock) Annual inflation fell below 3% in July for the first time in more than three years. Consumer Price Index The Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS). On an annualized basis, prices rose 2.9% in July, slowing […]
How to fix, not cut, the Social Security benefits tax
Donald Trump questions why the federal government should tax Social Security benefits. Strictly speaking, this is not a tax on benefits. We already Tax on additional income It is the income that a Social Security recipient earns while receiving their Social Security check. If Social Security is their only source of income, an individual does […]
White House strikes deal to cut prices of popular Medicare drugs that cost $50 billion yearly
The Biden administration is celebrating a victory after federal officials struck deals with drug companies to lower prices for 10 of Medicare’s most popular and expensive drugs, but it immediately offered few details about the new prices older Americans will pay to fill those prescriptions. White House officials said Wednesday night that the new drug […]
Gold prices rise, record highs close as CPI data fuels rate cut bets – Investing.com
Investing.com — Gold prices rose in Asian markets on Thursday, hovering near record highs as weaker-than-expected U.S. consumer price data raised hopes the Federal Reserve will start cutting interest rates. Rising risk appetite also capped gains in gold prices, while a monthly rise in inflation led traders to expect a smaller rate cut in September. […]
Trump Promises to Cut ‘Energy and Electricity Prices’ in Half
Former President Donald Trump vowed that if elected in November, his administration would cut “energy and electricity prices” in half. At a rally in Asheville, North Carolina, on Wednesday, Trump said: said He told the crowd that under Trump, the US would cut energy and electricity prices in half “within 12 months” – and up […]
Venezuela Forcing Dissidents to Film Humiliating Apology Videos Cut with Horror Movie Clips
Venezuela’s socialist regime launched a brutal campaign against dissidents this weekend, desecrating their homes to prevent them from continuing their protests and forcing detained individuals to issue heavily edited “apologies” on social media spliced with footage from Hollywood horror films. Following the sham elections of July 28, the regime led by dictator Nicolas Maduro is […]
Dollar tenses for data verdict on rate cut risks – Yahoo Finance
By Wayne Cole SYDNEY (Reuters) – The dollar was volatile on Tuesday as investors waited to see how U.S. economic data might affect the chances of a bigger interest rate cut, while gains in Japanese shares helped stem losses in the yen carry trade. The dollar briefly hit a one-week high of 148.23 yen overnight […]
Gen Z isn’t soft — and older generations need to cut Zoomers a break
Gen Z has a bad rap. Various members of older generations have portrayed them as weak, neurotic, helpless, and fragile, which is both simplistic and insulting. While most generations share these negative traits, Gen Z is not particularly prone to them and is certainly not the withered flower that most of its critics claim. For […]
Fed will steer clear of jumbo rate cut despite mounting pressure: survey
A new survey finds that most economists believe the Federal Reserve will make a small cut to its benchmark interest rate, rather than the larger cuts that some of Wall Street’s biggest banks are calling for. Nearly four in five economists He told Bloomberg News They expect the Fed to cut interest rates by a […]
The Fed Isn’t Going to Panic Cut
Dogs have their days, and so do economists. When it comes to predicting the Fed’s interest rate policy for the rest of the year, economists are probably right and markets are probably wrong. Believe me when I say it’s much more painful for us to write this than it is for you to read it. […]