Embattled NYC Schools Chancellor David Banks exiting post earlier than expected as fed probe intensifies
New York City Schools' embattled Chancellor David Banks plans to step down from his position in the coming weeks, the Post reports, months earlier than previously planned. Banks announced his retirement from his top post at the Department of Education on September 25, just weeks after federal authorities raided the home he shares with Deputy […]
Fed agencies released noncitizens without ID into US, allowed them to board domestic flights: DHS OIG report
In a new, heavily redacted report, the Department of Homeland Security (DHS) Inspector General (IG) finds that several federal agencies release noncitizens into the United States without background checks and allow them to travel on domestic flights. It was revealed that the risks associated with doing so had not been adequately assessed. In a report, […]
BlackRock’s Larry Fink sounds off on investors expecting huge Fed rate cuts
BlackRock CEO Larry Fink told investors Tuesday. It would be a mistake to think that the Fed will cut rates significantly later this year because billionaire money men believe the U.S. economy will continue to grow. Mr. Fink dismissed market expectations for further rate cuts through the end of the year after Powell cut interest […]
US Dollar Index rises to near 101.00 following Fed Powell remarks to lower rates gradually – FXStreet
The dollar index rose after Fed Chairman Jerome Powell said the central bank would lower interest rates “over time.” The CME FedWatch tool suggests a 61.8% chance that the Fed will cut rates by 25 basis points (bp) in November. The US ISM manufacturing PMI for September is expected to be 47.5, an improvement from […]
Fed will help banks get cash in hurricane affected areas, Powell says
Federal Reserve Chairman Jerome Powell said Monday that the Fed will help local and regional banks in hurricane-hit areas ensure they have enough cash for their customers during the ongoing emergency. said he could assist. “We're able to ensure through the Reserve Bank that banks have cash available, so even if there is an extended […]
The Fed Just Lowered Interest Rates. Here's My Top Vanguard ETF to Buy Now. – Yahoo Finance
announced by the Federal Reserve First interest rate cut in four years. Further interest rate cuts could follow, lowering borrowing costs and stimulating consumer spending on goods and services. The Conference Board's Consumer Confidence Index just posted its biggest single-month decline since August 2021, so lower interest rates won't magically flip a switch and send […]
Newlywed Adams officials David Banks, Sheena Wright may not get ‘pillow talk’ privilege in fed probe: experts
Their “pillow talk” may be fair game. A wedding took place Saturday at the embattled Big Apple school's Martha's Vineyard, and President David Banks and First Vice Mayor Sheena appear to be shielding the couple from possible federal criminal charges. Maybe, but experts say this marriage won't completely protect them. The longtime lovebirds' wedding, which […]
Fed prosecutor leading Adams case is a risk-taking ‘cowboy’: mayor’s camp
The lead prosecutor overseeing Mayor Adams' landmark federal corruption case has a reputation as a “cowboy” with a penchant for inciting mobs and taking risks, and could do the same in former Lt. Gov. Adams' chaotic case. There is sex. Gov. Brian Benjamin and a person close to Hizzoner said. Hagan Scotten, an assistant U.S. […]
Inflation measure closely watched by the Fed fell to 2.2% in August
Brian Levitt, global market strategist at Invesco, said at Barron's Roundtable that inflation has returned to its comfort zone. Inflation measures closely watched by Fed policymakers continued to slow in August as the pace of price increases trended closer to the Fed's target. The Personal Consumption Expenditures (PCE) price index released by the Department of […]
EUR/USD rebounds with Fed Powell’s speech on the horizon – FXStreet
EUR/USD consolidated to around 1.1120 before moving higher as the US Dollar struggled to extend its recovery. Fed Chairman Powell's speech will likely provide clues about the size of the rate cut in November. The ECB is likely to cut interest rates for the second time in a row in October. EUR/USD has rebounded to […]