Moody's analyst: Fed made mistake but won't cut rates until September
Moody’s Ratings chief economist Mark Zandi said Monday that the Federal Reserve “clearly” made a mistake by not cutting interest rates but would probably wait until its September meeting to act. “They clearly made a mistake,” Zandi said in an interview with CNN’s Jim Acosta, “and I think that’s now obvious to everybody, including them, […]
Calls grow for emergency interest rate cut by Fed
Federal Reserve Chairman Jerome Powell has been urged to step in and cut interest rates as soon as this week to ease investor fears about a possible recession following last week’s disappointing jobs report and Monday’s big stock market sell-off. The Dow Jones Industrial Average and the Nasdaq both fell more than 1,000 points at […]
Elon Musk says the Federal Reserve is ‘foolish’ for waiting to cut interest rates
Washington Post Op-ed and columnist Heather Long discusses the Federal Reserve’s managed interest rate cuts and the impact of July’s jobs report. Billionaire Elon Musk The Federal Reserve said Sunday it was “foolish” for not cutting interest rates sooner after a disappointing jobs report that raised concerns about an economic slowdown. “The Fed needs to […]
Meghan McCain presses Harris to address policy: Insults 'not going to cut it'
Meghan McCain, daughter of the late Sen. John McCain (R-Ariz.), has been pressuring Vice President Harris, the presumptive Democratic presidential nominee, to address policy issues such as immigration and inflation rather than relying on personal attacks. “No matter how much momentum and media support VP Harris has right now, I don’t see what excuse she […]
Surging Unemployment and Recession Risk Cement September Rate Cut
July employment crisis brings interest rate cut forward to September It looks like the market is finally getting what it has been waiting for for over a year.The Federal Reserve cuts interest rates. The July jobs report released on Friday showed the labor market in much weaker shape than previously thought. Economists had expected demand […]
Intel to cut 15,000 jobs after 'disappointing' second quarter results
Intel plans to cut 15,000 jobs, or about 15% of its workforce, CEO Pat Gelsinger said in a memo to employees on Thursday. The layoffs come as part of an effort to achieve $10 billion in cost savings by 2025 after the chipmaker reported “disappointing” second-quarter results. “This is tough news for me,” Gelsinger said, […]
Donald Rowe cut Secret Service threat-assessment teams before Trump shooting: Hawley
WASHINGTON — The acting director of the Secret Service “personally ordered significant cuts to its threat assessment team” ahead of the assassination attempt on President Donald Trump, a Republican senator alleged Friday, citing a whistleblower. Sen. Josh Hawley (R-Missouri), who confronted Acting Attorney General Ronald Roe at an oversight hearing on the near-assassination on Tuesday, […]
Massive Layoffs At Intel With Tech 15K Jobs Cut, $1.6B Loss After Biden Administration Funding
Intel announced major layoffs on Thursday, cutting 15,000 jobs after a $1.6 billion loss, despite receiving a large amount of funding from the Biden administration. Intel is cutting 15 percent of its workforce, or about 15,000 jobs, as it restructures its business and seeks to better compete with industry leaders such as Nvidia and AMD. […]
Smearing Activists is MI5’s Job Says Inquiry Cop Before Live Feed Cut
Britain’s secret police force was hearing evidence from a former police officer on Thursday when the footage suddenly cut as the officer began talking about the role of MI5, the government’s domestic intelligence service, in smearing political activists. The inquiry into the conduct and activities of undercover police officers in Britain between 1968 and 2008, […]
Sununu urges GOP to cut down on ‘distracting rhetoric’
New Hampshire Governor Chris Sununu (R) has called on Republicans to “stop making disparaging rhetoric” ahead of the November election, arguing that such attacks do little to shore up support for GOP candidates. “As Donald Trump and his Republican allies consider the next steps in their campaign, my message to them is this: The path […]