Great And Unfortunate Fabrications

First Valero Refinery, Now Largest U.S. Gasoline Pipeline Damaged In Georgia Colonial Pipeline's Line 1, the largest U.S. gasoline pipeline running from Houston toward the East Coast, has halted operations after a third-party work crew damaged a section of the line in Georgia. Bloomberg reported that the line stopped shipping fuel after the damage occurred on Tuesday in Paulding County, Georgia. "Line 1 is out of service while our team coordinates response and repair efforts," Colonial said in a statement cited by the outlet. The outage hits a critical fuel artery that...

US Agencies Miss GENIUS Act Deadline, Extending Stablecoin Uncertainty Authored by Zoltan Vardai via CoinTelegraph.com, US regulatory agencies missed the rulemaking deadline under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act on Saturday, which marked one year since the law was signed.  Several US regulatory agencies published proposed rules and collected public feedback during the past year, but no final regulations were issued before the deadline. These agencies include the Department of the Treasury, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and...

Inflation Expectations Dip, Driven By Lower Gas Prices, While Labor Market Prospects Worsen: NY Fed Survey Ahead of Wednesday's CPI report which is expected to show a substantial rise in consumer prices, moments ago we got an early look into how consumers view inflation after the NY Fed's latest monthly survey of consumer expectations reported that inflation expectations at the one-year horizon dipped to 3.46% in May from 3.64% in April, easing from the highest print since September 2023. Inflation expectations were unchanged at 3.1% for the three-year-ahead horizon and...