Warsh’s ‘Regime Change’
Warsh called inflation a tax on Americans and vowed to end it. The Fed votes on rates on July 29. Its own inflation gauge does not report June until the 30th.
Economy
TIPP Poll data on Americans' perception of the economy is the foundation for this section. Topics covered include U.S. consumer confidence, consumer sentiment, job market, economic growth, recession, financial stress, economic outlook, personal financial outlook, federal economic policies. We also cover trade, taxes, and debt. Our TIPP economic optimism index, financial stress index, job sensitivity metrics, and other polling on current economic issues drive the discussions.
U.S. Expands Sanctions On Cuba's Tourism Sector
The report said the sanctions, authorized under a May executive order, block the U.S.-based property and financial interests of the designated entities.
US Trade Fraud Investigations Surpass $1 Billion Mark
The total includes penalties, settlements, restitution, asset forfeitures and alleged losses in pending criminal and civil cases. About $150 million of the overall figure relates to ongoing cases.
Fed Chair Warsh Outlines New Strategy To Tackle Inflation
He acknowledged that elevated prices over the past five years have burdened American households and businesses
Consumer Prices Drop More Than Expected In June
The consumer price index fell 0.4% from the previous month, marking its biggest monthly decline since April 2020
Meta Expands Louisiana Data Center To $50 Billion Project
According to the report, the facility will become the company's largest data center project, significantly larger than the original 2-gigawatt plan valued at $27 billion.
What Is The Digital Euro And How Will It Work
The report said the digital euro would be an electronic form of central bank money available directly to the public while physical cash remains in circulation.
Why Are Economists Warning About AI's Impact On Jobs
The report said the letter, titled "We Must Act Now," argues that AI could become significantly more powerful over the next decade, increasing the risk of widespread job displacement.
Bosch Begins Sample Production At First U.S. Chip Plant
The report said Bosch acquired the Roseville, California, facility in 2023 and invested about $2 billion to modernize it.
U.S. June Budget Deficit Widens To $120 Billion
The report said the Treasury collected $23.6 billion in customs duties during the month but paid out $49.2 billion in tariff refunds, resulting in a net outflow.
U.S.-Iran Strikes Keep Treasury Yields Muted
The 10-year Treasury yield remained near 4.47%, while the two-year yield edged slightly higher, reflecting expectations around future Federal Reserve policy.
California Senator Presses Canada To Lift Wine Ban
While Saskatchewan and Alberta have resumed stocking U.S. spirits, Ontario and Quebec continue to enforce the restrictions.
U.S. Urges Iran To Guarantee Safe Passage Through Strait Of Hormuz
According to the report, senior U.S. officials want Tehran to provide assurances that ships transiting the strategic waterway will no longer face threats.