All posts tagged: Fed

Trump slams Jerome Powell after Fed holds rates steady

Published by Sam

[ad_1] U.S. Federal Reserve Chair Jerome Powell attends a press conference following the issuance of the Federal Open Market Committee’s statement on interest rate policy in Washington, D.C., U.S., June 18, 2025. Kevin Mohatt | Reuters President Donald Trump ripped into Federal Reserve Chair Jerome Powell on Thursday, calling him “destructive,” after the central bank kept interest rates steady on Wednesday. Trump said “Too Late” Powell is costing the United States “hundreds of billions of dollars” by not cutting rates, leveling a familiar criticism against the Fed chair who has repeatedly ignored Trump’s pressure campaign to cut rates. “We should be 2.5 Points lower, and save $BILLIONS on all of Biden’s Short Term Debt,” Trump wrote Thursday on Truth Social. Trump also criticized Powell late Wednesday, calling him a “real dummy” in a near-midnight Truth Social post. Powell, whose term ends in May of 2026, said Wednesday that, “for the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policies.” Read more CNBC politics coverage …

Fed up with your internet provider’s data caps? The FCC wants to hear from you

Published by skeptic

[ad_1] Jose A. Bernat Bacete/Getty Images If your internet service provider (ISP) is charging you extra for going over data caps, the Federal Communications Commission (FCC) wants to hear about it. Last week, the FCC announced that it was exploring the impact of data caps on consumer access to broadband. If you’re not familiar, many ISPs institute data caps on customers. Use more data than that prescribed limit, and you might be subject to a hard cap, which is an added fee, or a soft cap, which means slower service. Some providers have no caps at all, some have no cap as a paid add-on, and some have caps only in certain parts of the country. Also: AT&T and T-Mobile argue unlocked phones are bad for their customers – here’s why Until earlier this year, warnings about data caps were often buried in piles of legalese; that is, customers often didn’t know these caps existed. That’s why the FCC mandated that ISPs provide “nutrition labels” that clearly break down key information on their plans, associated …

To Prevent A Banking Crisis, The Fed Must Cut; But…

Published by skeptic

[ad_1] Via SchiffGold.com, In 2009, 140 banks failed, and a recent report from financial consulting firm Klaros Group says that hundreds of banks are at risk of going under this year. It’s being billed mostly as a danger for individuals and communities than for the broader economy, but for stressed lenders across America, a string of small bank failures could quite quickly spread into a larger bloodbath — especially in an economy with hot inflation and a feverish addiction to ultra-low interest rates. Data Source: FDIC.gov Most at-risk firms are smaller banks representing assets under $10 billion, with a handful of larger regional ones. Some might be able to avoid closing by halting expansion plans or offering fewer services. Others might save themselves by merging with larger banks. But with inflation too high for the Fed to cut now, “higher for longer” interest rate policy is looking increasingly likely, and banks with high exposure to troubled commercial real estate are at particular risk of starting a domino effect of small collapses that lead to bigger ones and bleed into becoming …

Someone Is Lying: Atlanta Fed Claims US GDP Is 4.2% While DOE Reports Lowest Gasoline, Diesel Demand Since Covid

Published by skeptic

[ad_1] On one hand, the Atlanta Fed triumphantly blasted earlier today that Bidenomics is the greatest thing since sliced bread, helping push its Q2 GDP Nowcast to a whopping 4.2%, up from its latest estimate of 3.3%. On the other hand, Biden’s own DOE – in its latest attempt to slam oil, gas and diesel prices because nothing will crush Biden’s re-election chances faster than an oil price spike in the summer – reported that demand for gasoline and diesel in the United States has plunged to its lowest seasonally since the onset of the COVID pandemic, “sparking concern that economic activity is now becoming stagnant as refining margins hit news lows not seen in months“, Reuters reported. As shown in the chart below, monthly averages for the week ended May 3 show gasoline demand at 8.63 million barrels per day–a figure not seen since May 2020, at the start of the pandemic, based on EIA data. Data also showed demand for distillates – the most accurate proxy for overall economic activity – plunged to …

‘Baby Fed’ no more: Grigor Dimitrov has grown up and is in form of his life | Tennis

Published by skeptic

[ad_1] Grigor Dimitrov was describing his improbable journey from humble origins in Haskovo, Bulgaria, a country with almost no men’s tennis heritage before him, to the very top levels of his sport when suddenly he paused: “I had all these comparisons with Roger [Federer] for so many years,” he said, laughing. “Thank you for not saying it. I appreciate it.” He did not have to elaborate. From the moment he emerged on the ATP Tour, armed with excellent athleticism, a large toolbox of shots and a sickly sweet single-handed backhand, the early years of Dimitrov’s career were plagued by uncomfortable comparisons and that dreaded nickname: Baby Fed. It is, evidently, difficult to discuss his beginnings without touching on the subject. “It was flattering,” he says of the early hype. “At the same time, I’m really way past that. Even back in the day, I thought it was funny but at some point I was like: ‘I would like to establish myself as the tennis player I am, as the person I am.’ I think that …

Where Is “Growth” Coming From? Fed Says Banks Tighten Credit Standards While Loan Demand Drops Further

Published by skeptic

[ad_1] The first quarter Fed’s Senior Loan Officer Opinion Survey (SLOOS) – the one place where every three months investors go to find information on changes to both loan demand and bank lending tightness – was released and revealed more of the same: despite daily propaganda of economic improvement, the SLOOS found that more US banks reported stricter credit standards in the first quarter, while loan demand declined. As a reminder, without ease credit and without rising loan demand, it is virtually impossible for an economy – especially one that is as financialized as the US – to grow; and yet we are bombarded day after day with lies to the contrary. Taking a closer look at the SLOOS survey which was conducted between March 25 and April 8, we find that the net share of US banks that tightened standards on the all important C&I (commercial and industrial) loans for mid-sized and large businesses rose to 15.6% in the first three months of the year, from 14.5% in the fourth quarter. Other types of loans that …

Futures, Global Markets Rise On Rising Fed Cut Bets

Published by skeptic

[ad_1] Global stocks and US equity futures jumped to start the new week, with the S&P 500 poised to extend last week’s rally as traders grew increasingly confident in the likelihood that the Fed will cut interest rates this year. As of 7:40am, S&P 500 and Nasdaq 100 futures added 0.3%, tracking gains in European and Asian markets although trading volumes were lower than average as UK and Japanese markets are shut for a holiday. Apple slid in pre-market trading after Berkshire Hathaway trimmed its stake for a second consecutive quarter. German 10-year yields fell and the yen weakened. Oil advanced after Saudi Arabia raised prices for customers in Asia. On today’s calendar we get the latest Senior Loan Officer Opinion Survey (SLOOS) which will signal whether demand for tight credit remains dismal. In premarket trading, Apple dropped 1.2% after rising strongly over the past two sessions and as Berkshire Hathaway reported it had trimmed its stake in the company. Shares in cryptocurrency-linked companies rally as Bitcoin nears $65,000 level after adding around 10% in the last …

Fed indicated rates will stay higher. What does that mean for you?

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[ad_1] NEW YORK —  Mortgage rates, credit card rates, auto loan rates and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn’t plan to cut interest rates until it has “greater confidence” that price increases at the consumer level are slowing to its 2% target. The central bank kept its key rate at a two-decade high of roughly 5.3%, where it has been since last August. Here’s what to know: What does this mean for borrowers? Credit card rates are at or near all-time peaks, and mortgage rates have more than doubled in recent years. According to LendingTree, the average credit card interest rate in America today is 24.66%, unchanged from last month, though that rate has risen for 24 of the last 26 months. “That isn’t likely to fall anytime soon, despite the Fed taking its foot off the gas,” said LendingTree Credit Analyst Matt Schultz. “That’s likely the unfortunate reality for the next several months.” In the battle …

Fed F**kery Turns $37BN ‘Unadjusted’ Bank Deposit OUTFLOW Into $126BN INFLOW

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[ad_1] Money market funds added $23.6BN in assets last week, pushing the total funds under management back above $6 Trillion – still well off the highs (as some tax-related withdrawals remain lost)… Source: Bloomberg Both retail and institutional funds saw inflows last week… Source: Bloomberg Amid all the talk of tapering, The Fed’s balance sheet plunged $40BN last week to its lowest since Jan 2021 (with QT continuing at around $35BN)… Source: Bloomberg The Fed’s now-expired Bank Bailout fund (BTFP) saw a small decrease of just $1.375BN – inching closer to erasing all the arb-driven surge in demand for the facility, but leaving a whopping $12BN left out there filling holes in bank balance sheets… Source: Bloomberg And after last week’s almost unprecedented outflows, total bank deposits (seasonally-adjusted) rose by a huge $129BN to $17.58TN – that was the biggest rise in deposits since March 2021… Source: Bloomberg But, by the magical power of Federal Reserve ‘science’, on a non-seasonally-adjusted basis, total bank deposits dropped $24BN… Source: Bloomberg Excluding foreign deposits, the picture was just …

20 Tiny Things To Do When You’re Fed Up And A Little Depressed

Published by skeptic

[ad_1] Welcome to the experience of being human. I know what it’s like to feel stuck and fed up. Maybe you got dumped or rejected. Maybe you feel disrespected. Maybe you’re frustrated and fed up with work. Yup, it sucks.  When I’m in this state, I have frequently thought that the best solution is to do something drastic, fueled by emotion — maybe to buy a van and travel the world. Or quit all my social media. Or start a whole new career. But more often than not, all we need at this moment is to do the next small thing. This little step reinforces your action-taking identity, fueling a return to joy. You’re not a moper. You’re a doer. This is always the solution to the malaise. Show yourself who you are through the small actions, and your mindset will shift. You will feel a new lease on life.  Here are 20 tiny things to do when you’re fed up and a little depressed: 1. Read ten pages of a book with no distractions …