California Democrats reject budget cuts proposed by Newsom as new fiscal year approaches
In the Golden State, Democrats in the legislature are pushing forward with their ways to cut the budget after rejecting proposals from Gov. Gavin Newsom (D-CA), even as discussions continue. California lawmakers have been in a race to pass a balanced budget ahead of the new fiscal year to avoid a shutdown. However, which cuts […]
Gold prices dip in face of fewer rate cuts this year By Investing.com – Investing.com
Investing.com — Gold prices fell in Asian markets on Thursday, remaining near recent lows after the Federal Reserve sharply cut its outlook for interest rate cuts this year, creating further headwinds for the metal. Gold prices fell despite falling following weaker indicators in the previous session, but the dollar steadied on Thursday as markets digested […]
Biden Cuts Off His Own Supporters So Anti-Israel Protesters Can Shout Over Him
President Joe Biden cut off his own supporters Tuesday when they attempted to shout down anti-Israel protesters who interrupted his remarks on gun violence. About two minutes into his remarks at Everytown’s Gun Sense University, a group of hecklers began loudly condemning Biden’s support for Israel’s war in Gaza. As supporters spoke up to defend […]
JONATHAN WILLIAMS And LEE SCHALK: Biden’s Pledge To Let Trump’s Tax Cuts Die Has Stirred Up A Hornet’s Nest
Calls for higher taxes are a pillar of President Joe Biden’s re-election campaign, as he pledges to allow the popular Tax Cuts and Jobs of Act (TCJA) of 2017 to expire at the end of 2025. “That tax cut is going to expire,” President Biden recently tweeted. “If I’m reelected, it’s going to stay expired.” (RELATED: […]
Howard University Cuts Ties with Diddy, Revokes Honorary Degree
Howard University is severing ties with Sean Diddy Combs, revoking his honorary degree and ending the scholarship program named after him. After a recently released video from 2016 It appears to show him attacking R&B singer Cassie. “Mr. Combs’ behavior, as captured on the recently released video, is fundamentally incompatible with the core values and […]
U.S. Economy Added 272,000 Jobs In May, Shutting Door On Rate Cuts Early This Summer
The Labor Department said Friday that U.S. employers added 272,000 workers in May, all but eliminating the possibility of the Federal Reserve cutting interest rates early this summer. Hiring was very strong in May, with the unemployment rate rising to 4% despite a slight decline in the labor force participation rate. Economists had expected payrolls […]
Equity paradox: Minority, low income students suffer most from cuts to Massachusetts gifted programs
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Europe cuts interest rates, following Canada
While the Federal Reserve is not yet ready to start cutting interest rates in the United States, other major economies around the world have made enough progress in fighting inflation to start lowering borrowing costs. The European Central Bank (ECB) said on Thursday it would cut each of its three key interest rates by 0.25 […]
Fed’s Wait-and-See on Rate Cuts Further Supported by Extra-Hot “Core Services” PCE Inflation & Hot “Core” PCE Inflation
Housing inflation refuses to cool for the eighth month, and five of the remaining seven core services accelerated further. This is not good. The core PCE price index, which excludes the volatile components of food and energy and is the inflation index the Fed is focused on, jumped by 3.9% annualized in March from February, […]
House GOP proposes IRS funding cuts, defunding free tax filing system
House Republican appropriators are proposing to cut funding to the IRS and eliminate a free online tax filing system that the Treasury Department recently made permanent and promised to expand to other states. The House Appropriations Committee’s latest Financial Services and General Government (FSGG) bill “[prohibit] Funds used by the IRS to develop government-run tax […]