The Real Threat Is Artificial Credit, Not Artificial Intelligence

Latest Fed Beige Book Underscores "K-Shaped" Split Of US Economy Economic activity increased at a "slight to moderate" pace for ten of the twelve Federal Reserve Districts, while one District reported a slight decline and one reported no change, according to the latest Fed Beige Book. The just released Beige Book - prepared at the Federal Reserve Bank of Kansas City based on information collected on or before May 27, 2026, and is the second one to capture the effect of the war on the US economy - found that consumer spending...

Governor Powell By Philip Marey, senior US strategist at Rabobank Summary As widely expected, the FOMC remained on hold. Governor Miran dissented again because he wanted a rate cut. However, there were also three dissenters (Hammack, Kashkari and Logan) who wanted to remove the bias toward cutting from the statement. On balance, Powell said that the center of the Committee was moving toward a more neutral place in thinking about cuts versus hikes. Powell announced that this was his last press conference as Chair, but he would stay on as a Governor until he thinks...

The House on Thursday narrowly defeated a War Powers Resolution that would have directed President Trump to end the US war against Iran, as the US continues to enforce a blockade of Iranian ports and is considering restarting the full-scale bombing campaign. The bill failed in a tie vote of 212-212, with three Republicans — […]