Keep pulling the thread on Jerome Powell.
The estimated cost of the Biden administration's student loan forgiveness program is between $870 billion and $1.4 trillion.
The U.S. unemployment rate was 4.1% in June.
Total Personal Consumption Expenditures (PCE) prices rose 2.6% over the 12 months ending in May.
Core Personal Consumption Expenditures (PCE) prices, excluding food and energy, increased by 2.6% over the 12 months ending in May.
The Federal Open Market Committee has maintained the target range for the federal funds rate at 5.25% to 5.5% since July of the previous year.
The Federal Reserve decided to slow the pace of its balance sheet runoff starting in June.
The Federal Open Market Committee does not expect to reduce the target range for the federal funds rate until it gains greater confidence that inflation is moving sustainably toward 2%.
The Supreme Court recently overturned the Chevron deference precedent, which had established judicial deference to agency decision-making.
Jerome Powell believes the Federal Reserve needs to release a revised Basel III endgame proposal for public comment due to the broad and material changes being made.
The Federal Reserve plans to publish proposed changes to the Basel III rule, the quantitative impact survey (QIS), and the effects suggested by the QIS for public comment.
In the Synapse bankruptcy, reports indicate that as much as $95 million in customer funds may be missing.
The Federal Reserve plans to release the results of the Quantitative Impact Study (QIS) for the Basel III proposal.