The effects of the US-led war against Iran are about to intensify in the form of huge increases in gasoline and diesel prices, analysts predict. And despite the Trump administration’s assurances, a potentially even more economically damaging new phase of the war may be about to begin.
SpaceX (SPCX) stock rose about 5% on Tuesday, with no new news, although a couple of catalysts may be at work. On Monday, SpaceX said on SpaceX said the test mission, if successful, will deploy new Starlink satellites and test improvements to both the Starship and its booster. CEO Elon Musk hinted that the company … Read more
On Wednesday, the Federal Reserve raised its benchmark interest rates for the first time since 2023, in a move aimed at slowing inflation that picked up again last month. The Fed’s 0.25% hike raises the central bank’s flagship rate to between 3.75% and 4.00%. Federal Reserve officials unanimously supported the rate hike and signaled that … Read more
“The fact is, inflation is too high and has been for too long,” Warsh says. However, for more than five years, inflation has been above target, Warsh continues, so the Fed’s predominant focus is on the price stability side of its mandate. double quotes The obvious fact is that inflation is too high and has … Read more
While it may have taken a while, Wall Street has finally warmed to the idea that the Federal Reserve will likely raise its benchmark interest rate as it seeks to stamp out a maddeningly persistent inflation problem. Traders have assigned a greater than 90% probability that the central bank’s Federal Open Market Committee will vote … Read more
A JB Hunt Transport Services Inc. tractor-trailer parked at a freight yard in Indianapolis, Indiana, U.S., on Saturday, January 15, 2022. Luke Sharrett | Bloomberg | Getty Images Shares of JB Hunt plunged more than 10% on Wednesday after the trucking company said it expects its profits to fall in the third quarter. “We want … Read more
The market has priced in a roughly 93% chance that the Fed will raise rates by 25 basis points at tomorrow’s meeting as Kevin Warsh’s FOMC attempts to rein in inflation. That may disproportionately hit the bottom of America’s “K-shaped” economy, raising debt service costs without providing legitimate relief, according to Yung-Shin Kung, CIO of … Read more
Coast Guard personnel and FBI agents boarded a commercial oil tanker bound for Texas last month before it could reach a port after determining that the ship’s network may have been compromised by a foreign actor while crossing the Atlantic, the Coast Guard said Tuesday. On Aug. 21, a specialized team of Coast Guard law … Read more
President Donald Trump berated Jerome Powell for years as he tried to pressure Powell, then chairman of the Federal Reserve, to lower interest rates. So far, he has given a pass to new Federal Reserve chief Kevin Warsh, whom he nominated this year. Now, just four months into Warsh’s term, the honeymoon may be over. … Read more
Bessent defends faltering bond market intervention Treasury Secretary Scott Bessent testified before the House Financial Services Committee on Tuesday. Credit… Haiyun Jiang/The New York Times Treasury Secretary Scott Bessent defended his intervention in the U.S. bond market on Tuesday, telling lawmakers that a decision to buy back U.S. debt last week was successful, even as … Read more