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 […]
Snap up gold ETF ahead of potential interest rate cuts as deficits persist, market pro says – CNBC
According to Larry Tentarelli, chief technical strategist and founder of Blue Chip Daily Trend Report, gold is a smart investment idea as government budget deficits grow, and interest rate cuts are likely to be an additional tailwind. Gold has risen as a safe haven, in part due to the widening of the U.S. government’s budget […]
Breitbart Business Digest: ‘No Cuts’ Goes Mainstream
We were uncut before uncut was popular. It’s awkward. When we started to predict The Federal Reserve will not cut interest rates this year And there was a significant, and underestimated, risk that the Fed could raise interest rates next year. Breitbart Business Digest I was the lone contrarian: The Fed was expecting three rate […]
OPEC+ to Extend Oil Production Cuts Through End of 2025 in Attempt to Keep Prices High
OPEC+, a coalition of OPEC member countries and allied oil producers, said on Sunday it would extend existing overall oil production limits until 2025 to keep oil prices from falling below desired levels. The cartel said some countries would extend production cuts according to different schedules, while one member, the United Arab Emirates (UAE), would […]
Stephanopoulos cuts off Trump lawyer after he suggests Biden was behind Trump conviction
ABC News anchor George Stephanopoulos, in an interview on Sunday, confronted former President Trump’s lawyer, Will Scharf, over the former president’s baseless claim that President Biden played a role in filing a hush-money criminal lawsuit against Trump in New York. In an interview with “This Week,” Schaer repeated the former president’s arguments, claiming that the […]
Top Silicon Valley investor abandons Dems, cuts Trump campaign massive check after verdict: ‘I’ll lose friends for this’
A top Silicon Valley venture capitalist announced Thursday that he has donated $300,000 to former President Donald Trump’s reelection campaign following his conviction. Sean Maguire, a general partner at Sequoia Capital, isn’t just donating to Trump’s campaign: he supports him at all costs. “I personally believe that the double standards and legal war against Trump […]