Author: News Room

The US economy defied forecast after forecast predicting an imminent recession over the past two years. Instead, it grew beyond belief. A boom in immigration was part of the recipe, Federal Reserve Chair Jerome Powell said in a “60 Minutes” interview on CBS last month. But stricter measures could be coming to curb immigration after the Supreme Court announced Tuesday it is temporarily allowing Texas to enforce a controversial law that allows state officials to arrest and detain people they suspect of entering the country illegally. (A federal appeals court late Tuesday night put Texas’ controversial law back on hold.) Congress is also…

The Fed decided to hold rates at 5.25-5.50% as expected. The bank revised higher GDP and inflation forecasts. The official’s interest rate expectations for 2024 remained at a median of 4.6%. The US Dollar Index (DXY) declined towards the 103.50 area, following the Federal Reserve (Fed) decision to hold rates as expected. Economic activity and inflation forecasts were revised higher while Unemployment was lower. The highlight was that the interest rate projections saw the median rate unchanged at 4.6% in relation to the last protections. As a reaction, stocks edged higher while Treasury yields declined which added pressure to the USD.  The…

Saudi Arabia is reportedly mulling over a substantial $40 billion investment fund aimed at advancing artificial intelligence (AI), which is purportedly slashed for the latter half of the year. Sources also suggest that a potential collaboration with Silicon Valley venture capital firm Andreessen Horowitz (a16z) is being explored by the Saudi Arabian government’s Public Investment Fund to oversee these AI investments. The New York Times, citing three individuals familiar with the matter, disclosed that additional venture capitalists might also participate in this fund, and the partnership with a16z could involve the establishment of an office in Riyadh, the capital of…

‘It is simple. You name the crime’: AOC has contentious exchange with Biden probe witness Rep. Alexandria Ocasio-Cortez asked former Biden family associate Tony Bobulinski about what crimes he alleges he witnessed President Biden commit during a House Oversight Committee hearing. CNN’s Melanie Zanona breaks down the exchange.

If you grew up in the late 1990s to mid 2000s, or you had TV-watching children during that time, you undoubtedly know The Amanda Show, Drake & Josh, All That, Zoey 101 and iCarly. You may not know that the same man, Dan Schneider, created and produced all of those shows. They were known for their peppy child performers and silly gags, but a new documentary draws back the curtain on allegations of toxic and even predatory behavior on set. Quiet on Set: The Dark Side of Kids TV, which had its debut Sunday on Investigation Discovery and concluded on…

March marks the four-year anniversary of the Great Shutdown that launched the pandemic, a crisis the business pundits proclaimed would smother the bricks-and-mortar retail industry while transforming Amazon into a monopolistic octopus. Life as we knew it would never be the same. We would have to adapt to a looming but undefined “new normal.” Well, the new normal is here, but is it really so new? Memory is slippery. The way we recall things today is often at odds with how we experienced them. What was going on in retailing in the quarters just before the coronavirus became an international…

President Theodore Roosevelt’s daughter Alice Roosevelt made headlines with her rebellious behavior in the early 1900s. In “Roosevelt: The Story of a Friendship,” writer Owen Wister recalled that President Theodore Roosevelt once said of his spirited daughter: “I can be president of the United States, or I can attend to Alice.”Nicknamed “Princess Alice” by the media, she became a celebrity known for antics such as carrying around a pet snake named Emily Spinach in her purse and sneaking whiskey into parties, according to Smithsonian magazine.When Roosevelt told Alice she was not allowed to smoke under his roof, she climbed to…

Regina Smith had found a two-bedroom house in the historic district of Memphis, Tennessee. It was over 100 years old with lots of character in an artsy part of town — perfect for a short-term rental.When Smith had bought three houses previously, she’d used a cashier’s check to deliver the down payment or brought the money to the title company’s office. Because loans for investment properties often require a bigger down payment, she was dealing with a larger sum of money: $60,000. She anticipated having to wire the money before closing.A day before the scheduled closing, Smith received an email…

By Michael S. Derby (Reuters) -U.S. Federal Reserve Chair Jerome Powell said on Wednesday the day is swiftly approaching when the central bank will slow the pace of its balance sheet run-off, and in moving toward a taper of the drawdown, it may allow the central bank to ultimately shed more bonds than it once expected. “It will be appropriate to slow the pace of run-off fairly soon,” Powell said at a press conference following a Federal Open Market Committee meeting. But he did not offer a specific time frame for the decision, saying only that officials are now debating…

In a recent series of transactions, Ault Alliance, Inc. (NYSEAMERICAN:AULT) Executive Chairman Milton C. Ault III has made significant investments in the company’s preferred stock. On two consecutive days, Ault purchased a total of 1,000 shares of Series C Convertible Preferred Stock for $1,000 each, amounting to a $1 million investment. Additionally, Ault acquired a substantial number of Series C Warrants with no immediate financial outlay. These transactions, reported in a recent SEC filing, indicate a strong vote of confidence by the Executive Chairman in the company’s future. The preferred stock purchased by Ault is convertible into common stock at…