GDP surges by 2.8%, giving hope for rate cuts in September
GDP is growing at 2.8% annually, which indicates that the economy is doing well. (iStock ) The pleasant surprise was that gross domestic product (GDP) grew 2.8% year-on-year in the second quarter. Advance quote This is good news for the overall economic outlook, as a GDP growth of between 2% and 3% indicates the U.S. […]
Growth and Inflation Are Too Hot for the Fed to Cut in September
Economic growth exceeds expectations Economic growth accelerated more than expected in the spring, weakening the case for rate cuts and The Federal Reserve is still not doing enough to cool the economy We intend to bring inflation down to our 2% target. The Bureau of Economic Analysis said Thursday that real gross domestic product (GDP) […]
Hunter Biden tax trial to begin in September
Hunter Biden’s criminal tax trial will begin on Sept. 9 in California, the federal judge overseeing the legal proceedings announced on Monday. Biden is accused of failing to pay $1.4 million in taxes and filing false tax returns between 2016 and 2019. He is accused of using the money to fund a lavish lifestyle, spending […]
Biden refuses to debate Trump before September showdown
President Biden said on Monday he would not debate ahead of his planned September debate with Donald Trump, insisting he was “on track” again amid widespread scrutiny of his mental health. When NBC News reporter Lester Holt asked Biden whether he would accept Trump’s offer to debate him again in the coming weeks, the president […]
A September Rate Cut Would Trigger Political Vengeance
When inflation falls, markets soar As someone once said, if the Fed has a reactive function, The market has an overreaction function. Evidence of this was apparent on Thursday when the Bureau of Labor Statistics released its June Consumer Price Index (CPI), which showed it had fallen for the first time since May 2020. Consumer […]