LGBTQ news and entertainment
No bottle of ketchup will be safe at the White House today after Federal Reserve policymakers declined to lower interest rates as the Iran war has sent oil prices soaring and threatens to ignite a new round of inflation. Continue reading “Federal Reserve Keeps Interest Rates On Hold”
Some news items for your Hump Day reading:
• Pink News: Adult film star Brent Corrigan (above) revealed that he has been absent from social media for three years because he suffered a “massive seizure” which had him, at one time, on life support. Since the event, he’s had to re-learn such basics as eating and walking.
• Greg In Hollywood: GMA weekend host Gio Benitez celebrates 40th birthday with his hubby Tommy DiDario in Milan, who shares on Instagram: “You inspire, uplift, and make us all feel seen and loved.” Continue reading “Brent Corrigan Survives ‘Massive Seizure’ + Gio Benitez Celebrates 40 + More News”
As most financial experts predicted, the Federal Reserve cut interest rates today by a quarter percentage point to a range of 4% to 4.25% in order to address rising risks confronting the labor market.
Fed leaders predict two more cuts by the end of 2025 (down to 3.75%). Continue reading “Federal Reserve Lowers Interest Rates For First Time This Year”
Reuters reports that, thanks to solid economic growth, interest rates will rise by a quarter point for now with the possibility of more increases in the coming months.
The U.S. Federal Reserve raised interest rates by a quarter point on Wednesday and signaled a faster pace of increases in 2017 as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation.
The rate increase, regarded as a virtual certainty by financial markets in the wake of a string of generally strong economic reports, raised the target federal funds rate 25 basis points to between 0.50 percent and 0.75 percent.
“In view of realized and expected labor market conditions and inflation, the committee decided to raise the target range,” the central bank’s policy-setting committee said in its unanimous statement after a two-day meeting.
“Job gains have been solid in recent months and the unemployment rate has declined,” the Fed said, noting that market-based measures of inflation compensation had moved up “considerably.”
The rate increase was the first since last December and only the second since the 2007-2009 financial crisis, when the Fed cut rates to near zero and deployed other tools such as massive bond purchases to stabilize the economy.