Iran Blowback: At Least 22 Killed Trying To Storm US Consulate In Pakistan

Watch Live: Fed Chair Warsh Explains Why He Hiked Rates Into Stagflation The FOMC just (unanimously) hiked rates for the first time since July 2023 despite recent inflation prints slowing... Additionally, recent macro surprises are clearly signaling stagflation - the central banker's nemesis... So, a hike for credibility... but Warsh’s biggest challenge will be communicating his outlook without reverting to forward guidance, even as markets seek clarity on whether today’s likely move is one-and-done, or the start of a broader tightening cycle. With investors forced to extract more signal from his language, the press...

Though large numbers of displaced Lebanese civilians are still being prevented from returning to their homes by the Israeli occupation, a handful are trickling into the area, for lack of anyplace else to go, and because the “pilot zone” areas, at least nominally, are open to them and free of Israeli presence. Those first few […]

Beige Book: Economic Activity Picked Up In 11 Of 12 Districts; Only San Fran Flat As "Employers Invested In AI" In a modest support of the Fed's recent hawkish pivot, the latest Beige Book released today notes that economic activity across the US improved moderately, increasing at a slight to moderate pace in eleven of twelve Federal Reserve Districts in late May and June, while one District (San Francisco) reported no change. The pace of growth was ever so slightly better than that reported back in June when activity expanded...