Treasury Secretary Yellen: Debt Burden Sustainable at Current Levels
Treasury Secretary Janet Yellen stated that the U.S. national debt, currently at $34.7 trillion, is manageable if it remains stable relative to the economy. Despite high interest rates increasing the burden, Yellen emphasized the importance of focusing on the real interest cost of the debt. With net interest costs reaching $601 billion in the 2024 […]
Inflation Cools, But Debt Troubles Persist for Lower-Income Americans
Despite the Federal Reserve holding interest rates steady and inflation showing signs of cooling, debt-burdened Americans, particularly those with lower incomes, find no relief. Prices remain 3% higher than a year ago, and the Fed only projects one rate cut this year, down from an earlier expectation of three. As a result, many maxed-out credit […]
Unemployment Claims Reach 10-Month Peak as Economy Slows
U.S. weekly jobless claims rose to 242,000 for the week ending June 8, the highest level in 10 months, indicating a cooling labor market. This increase, surpassing economists’ forecasts of 225,000 claims, reflects the delayed impact of the Federal Reserve’s interest rate hikes. The unemployment rate also rose to 4% in May, while economic growth […]
Wholesale prices unexpectedly fell 0.2% in May
In May, the producer price index (PPI), which measures prices producers receive for goods and services, unexpectedly fell by 0.2% instead of rising by the anticipated 0.1%. This decline, driven by a significant 0.8% drop in final demand goods prices, suggests a pullback in inflation. Additionally, initial unemployment claims rose to 242,000, the highest since […]
Gold Dips as Fed Signals Only One Rate Cut for 2024
Gold prices declined slightly after the Federal Reserve indicated only one interest rate cut for 2024, disappointing investors who hoped for two cuts. Despite a cooler-than-expected inflation report limiting the drop, spot gold fell 0.2% to $2,317.38 per ounce, and U.S. gold futures declined 0.9% to $2,333.10. Analysts suggest that gold’s fundamental support remains strong, […]
Gold Prices to Stay Strong Through 2024, Some Say $3,000 is a Stretch
Gold’s surge to record highs is expected to continue throughout 2024, fueled by central bank purchases, particularly from China, along with geopolitical tensions and economic uncertainties. Despite the strong fundamentals supporting gold, analysts believe reaching $3,000 per ounce is unlikely. Currently, spot gold trades around $2,300 per ounce after hitting a record $2,449.89 on May […]
FOMC Holds Rates As Expected, Dot-Plot Shifts More Hawkish In 2024
FOMC Holds Rates As Expected, Dot-Plot Shifts More Hawkish In 2024 Since the last FOMC statement (on May 1st), stocks and bonds have outperformed (with the former at record highs), gold is flat while the dollar is down modestly. Amid all that, oil is down significantly… Source: Bloomberg These market moves have been prompted by […]
Elliott Management May Force Southwest To Abandon ‘Bags Fly Free’ Policy
Elliott Management May Force Southwest To Abandon ‘Bags Fly Free’ Policy With activist hedge fund Elliott Management in the pilot’s seat at Southwest Airlines, the budget airline’s popular “bags fly free” policy is under scrutiny. If Paul Singer gets his way, the airline’s popular “bags fly free” policy could end. This policy is a huge value proposition for customers when choosing […]
MSNBC’s Maddow Says She’s Worried Trump Will Put Her In A Concentration Camp
MSNBC’s Maddow Says She’s Worried Trump Will Put Her In A Concentration Camp Authored by Steve Watson via Modernity.news, MSNBC performative hack Rachel Maddow has declared that she is worried that if Donald Trump becomes the president again he’s going to round her up and throw her in a concentration camp with all her leftist […]
Finland In First NATO Deployment Parks Jets On Russia’s Doorstep
Finland In First NATO Deployment Parks Jets On Russia’s Doorstep NATO’s two newest members – Finland and Sweden – have already seen their militaries quite busy as part of recent joint exercises with the alliance. For the first time this week, another milestone has been achieved as Finland has deployed fighter jets to another NATO […]