Author: IA PressRoom

THE FED’S REAL PROBLEM MAY BE THE GOVERNMENT – INFLATION VERSUS DEFLATIONCopyright (c) 2022 PopTika/Shutterstock. No use without permission. Yesterday we learned the Consumer Price Index (CPI) rose 0.1 percent in May, down from 0.4 percent in April, while the yearly rate rose 4 percent, compared to 4.9 percent in April, the lowest yearly inflation rate since March 2021. Falling energy prices—down 3.6 percent in May—were the key factor in May’s slower inflation relative to April, as gasoline prices fell 5.6 percent in May, subtracting 19 basis points (hundredths of a percent) from the monthly inflation figure and just under…

Aileen M. Cannon, the Federal District Court judge assigned to preside over former President Donald J. Trump’s classified documents case, has scant experience running criminal trials, calling into question her readiness to handle what is likely to be an extraordinarily complex and high-profile courtroom clash.Judge Cannon, 42, has been on the bench since November 2020, when Mr. Trump gave her a lifetime appointment shortly after he lost re-election. She had not previously served as any kind of judge, and because about 98 percent of federal criminal cases are resolved with plea deals, she has had only a limited opportunity to…

© EPAUS health insurers tumbled after the country’s highest-valued healthcare provider warned that an increase in non-urgent surgeries was pushing up costs.UnitedHealth — one of the biggest US-listed companies with a market capitalisation of more than $400bn — and rival insurers benefited during the pandemic as older patients delayed some procedures, but the warning from the industry bellwether suggested that trend is reversing.Seniors are now “more comfortable accessing services for things that they might have pushed off a bit, like knees and hips,” Tim Noel, who leads UnitedHealth’s Medicare and retirement business, told a Goldman Sachs conference on Tuesday.UnitedHealth shares…

© Reuters. U.S. Federal Reserve Chairman Jerome Powell speaks during a news conference after the release of the Fed policy decision to keep interest rates unchanged, at the Federal Reserve in Washington, U.S, June 14, 2023. REUTERS/Kevin Lamarque By Howard Schneider WASHINGTON (Reuters) – Federal Reserve policymakers reached a milestone on Wednesday when they left the U.S. central bank’s benchmark overnight interest rate steady for the first time after 10 consecutive hikes. While Fed officials still see rates rising further, by as much as half a percentage point by the end of this year, the decision nonetheless marked a point…

© Reuters. By David Shepardson WASHINGTON (Reuters) -A U.S. House of Representatives committee on Wednesday narrowly voted to raise the mandatory commercial pilot retirement age to 67 from 65. Members of the House Transportation and Infrastructure Committee voted 32 to 31 for the pilot age amendment to a proposed five-year bill to reauthorize the Federal Aviation Administration (FAA) aviation safety and infrastructure programs for the next five years. “While commercial airline pilots are currently mandated to retire at 65, these same pilots that are forced to retire can still fly corporate and charter jets beyond the age of 65,” said…

© Reuters. NATO Secretary General Jens Stoltenberg holds a press conference on the day of a meeting of the Alliance defence ministers, in Brussels, Belgium June 14, 2023. REUTERS/Yves Herman By Sabine Siebold and Andrew Gray Brussels (Reuters) – NATO must work harder to set common standards for weapons and ammunitions, its chief said on Wednesday, as the alliance tries to boost defence production amid a Ukrainian counteroffensive likely to deplete Western military stocks even further. Announcing a Defence Production Action Plan designed to “rapidly address shortfalls in our stocks”, NATO Secretary-General Jens Stoltenberg said the plan also aimed to…

BalkansCat/iStock Editorial via Getty Images Estee Lauder (NYSE:EL) shares rose sharply on Wednesday as the company announced a plan to disclose “novel clinical and preclinical results that demonstrate scientific innovation and leadership across emerging areas of skin health and anti-aging” in July. The consumer products and cosmetics company is set to present these innovations at the 25th World Congress of Dermatology in Singapore from July 3 to July 8. The research to be presented will pertain to 3 brands and will be shown during 5 separate presentations. “We are thrilled to share key findings at the upcoming WCD from our…

A bipartisan bill reintroduced this week would regulate how companies including TikTok share US data. The legislation could address some of the core security concerns about the app. TikTok has faced increased scrutiny around its ties to China, as well as calls for a US sale or ban. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app TikTok may have a path forward in the US without a sale or ban.US lawmakers just put forth a bipartisan bill that would regulate how companies including TikTok…

Transgender student-athletes in Ohio would be banned from participating in girls’ and women’s sports and minors would be prohibited from receiving sexual reassignment procedures under a multifaceted proposal that cleared a state House panel Wednesday.The measure folds together two contentious bills in the Republican-dominated House that could drastically change the way LGBTQ+ youth live in the state.The proposal would require K-12 schools as well as universities to designate “separate teams” for male and female sexes, but explicitly ban transgender girls from participating in girls’ sports while leaving the door open for transgender athletes to play on male or co-ed teams.NEWLY…

© Reuters Investing.com — The Federal Reserve kept rates steady on Wednesday, but leaned far more hawkish than many had expected, forecasting two more hikes ahead as inflation continues to run above target.   The Federal Open Market Committee, the FOMC, kept its in a range of 5% to 5.25%. It was the first time in more than a year that the Fed decided to keep rates steady, but the central bank signaled it wasn’t done with hikes, projecting two further hikes remain in the pipeline for the year. The Fed increased its benchmark rate forecast to a terminal rate, or peak rate,…