US Launches Airstrike in Somalia for 76th Time This Year

Trump Says Gas Prices Will Drop "Like a Rock" Once Conflict Ends, As Senator Breaks With GOP Leadership On War Powers Summary Trump: "The [price of] gasoline and the oil will go down rapidly once the war’s over." GOP Sen. Collins switches vote on war powers. Bessent on X: "Amid the impact of Economic Fury, Iran’s currency has hit an all-time low. The Iranian people deserve a new era, which the corrupt and shambolic Iranian regime cannot provide." Signals hope for uprising, regime change. Israeli Defense Minister Katz: "soon we will need to...

FundStrat's Newton: Why Not Replace The FOMC With AI? Short of abolishing the Fed (much preferred), would automating the Fed make more sense than the current system? Should we trust Kevin Warsh, Jerome Powell, and Lisa Cook to read the tea leaves each month and decree rate changes for us commoners?  That was Fundstrat's Mark Newton’s suggestion during last night's ZeroHedge debate on his H2 market outlook. He pointed out the new chair’s plan to eliminate “forward guidance”, a term invented under the previous chair Powell in which the Fed strategically...