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U.S. and Iran reach deal to extend ceasefire and open strait AxiosIran says draft US deal includes oil sanctions waiver, nuclear limits and asset release ReutersThe true test of Trump's Iran agreement will come only if the fighting stops CNNTrump Celebrates While America Capitulates The AtlanticTrump sought to break Iran's regime. He settled for reopening Hormuz. The Washington Post
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Everything Announced at the Dead by Daylight 10th Anniversary Broadcast IGNBehaviour Celebrates 10 Years of ‘Dead by Daylight' With New Reveals And More Bloody DisgustingDead By Daylight 10th Anniversary Celebration Unveils The Future Of The Game, With Graphical Overhaul, New Modes And More MMORPG.comDon't Hold Your Breath For A Dead By Daylight Sequel GameSpot
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Donald Trump turns 80 and celebrates with UFC cage fighting on the White House lawn AP NewsTrump at 80: A President ‘Really Uncomfortable' With Aging The New York TimesTrump puts himself at center of birthday spectacle — his own and America's The Washington PostLive updates: Trump celebrates his 80th birthday with an Iran deal and a UFC cage fight at the White House AP NewsThe Generational Disaster of Trump, Bush and Clinton Politico
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Kevin Warsh will hold his first policy meeting next week with inflation at a three-year high and a president who expects lower borrowing costs.
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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If the president is miffed by the central bank gradually raising rates when the economic numbers are breaking his way, what happens when they're not?
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