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Can Trump Force Blue Cities to Cooperate With ICE? The New York TimesJudge rejects bid to end Trump administration's immigration-enforcement surge in Minnesota PoliticoJudge denies Minnesota's request to end ICE surge in Minneapolis The GuardianFederal judge denies Minnesota's request to temporarily halt Operation Metro Surge CBS News
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Mayor of Portland, Oregon, demands ICE leave the city after federal agents gas protesters AP NewsFederal agents use tear gas on Portland ‘ICE Out' protesters, including children KOIN.comFederal officers use crowd control munitions as demonstrators protest outside Portland ICE building Oregon Public Broadcasting - OPB‘Resign': Portland mayor issues scathing statement after protesters gassed at Portland ICE bui
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Target's New C.E.O. Faces Hometown Crisis as He Begins Turnaround Effort The New York TimesTarget's new CEO is thrown into crisis mode on day one Business InsiderTarget's incoming CEO addresses 'Minneapolis violence' in memo to employees Bring Me The NewsTarget's incoming CEO calls Minneapolis violence 'incredibly painful,' does not mention Trump or shootings by federal agents CNBC
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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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