Seattle Police Chief Resigns 4 Days After Deadly Festival Shooting

Opposite What You're Told, Markets Don't Wait For The Fed Authored by Shahid Islam via RealClearMarkets, Financial commentary often makes monetary policy sound mechanical. The Federal Reserve raises interest rates, borrowing costs rise. The Fed cuts rates, borrowing costs fall. History is considerably messier. Beginning in June 2004, the Federal Reserve raised its federal-funds target 17 consecutive times, taking it from 1 percent to 5.25 percent. What happened to the 10-year Treasury yield? It averaged 4.73 percent in June 2004. By February 2007, after the Fed had raised its target by 4.25 percentage points, the...

Futures On Edge As Sliding Chips Spark Another Korea Crash, Payrolls On Deck US equity futures have reversed all overnight losses which were driven by the latest crash in South Korean stocks, which plunged 8% and closed at LOD, driven by a plunge in memory stocks. Still, the Nasdaq is still lower with tech stocks depressed on news that Sam Altman's OpenAI is seeking to offer a 5% stake to Trump in what is clearly an attempt to incentivize the government to backstop the company whose revenues are clearly below...