Unemployment Claims Drop, But Four-Year High Raises Questions About Job Market Health

Weekly unemployment filings fell for the first time in a month, declining by 5,000 to 245,000 in the week ending June 14. The recent rise in claims since mid-May coincides with the end of the school year, when educational workers like bus drivers and cafeteria staff can collect benefits during summer break. Despite the four-week average reaching a four-year high, 38 of 53 states showed declines last week, suggesting seasonal patterns are the main driver. However, those who lose jobs are finding it harder to get new ones, with nearly 2 million people now collecting unemployment benefits—also a four-year high—as […]

Mali Breaks Ground on Regional Gold Refinery to End Decades of Raw Ore Exports

Mali has broken ground on a new gold refinery backed by Russia’s Yadran Group and a Swiss investment company. The 200-ton capacity facility, in which Mali holds a controlling stake, represents a major shift in how the West African nation manages its gold resources. Once operational, all gold mined in Mali will be processed domestically into doré bars before export, ending decades of shipping raw gold abroad for refining. This move is part of broader mining reforms across the Sahel region aimed at capturing more value from natural resources.

Powell vs. Trump: Fed Expected to Resist Calls for Aggressive Rate Cuts

At Wednesday’s Federal Reserve meeting, officials are anticipated to maintain current interest rates at 4.25%-4.5%, but all eyes are on the quarterly “dot plot” chart that reveals each Fed member’s rate predictions. The previous dot plot showed consensus for two rate cuts in 2025, and analysts expect this guidance to remain unchanged despite significant pressure from President Trump, who wants a full percentage point reduction. Fed Chairman Jerome Powell and colleagues are weighing multiple factors including Trump’s tariff policies, trade uncertainties, and recent milder inflation data. While Trump has publicly called for cuts and hinted at forcing action, Powell appears […]

CBO Analysis: Trump Tax Cuts to Add $2.8 Trillion to National Debt

President Trump’s tax cuts package would increase federal deficits by $2.8 trillion over the next decade, according to a new Congressional Budget Office analysis that factors in economic impacts. This is higher than the earlier estimate of $2.4 trillion and includes $441 billion in additional interest payments on federal debt. The House-passed bill faces revisions in the Senate, where Republicans are proposing deeper Medicaid cuts and work requirements to offset costs. Democrats argue the tax cuts won’t pay for themselves as Republicans claim, while the bill would also leave 10.9 million more people without health insurance and cost the poorest […]

Fed Expected to Keep Rates Unchanged as Economic Uncertainty Persists

Federal Reserve policymakers are widely anticipated to hold interest rates steady at their Wednesday meeting, continuing their cautious approach amid economic uncertainty. The central bank has kept rates in the 4.25%-4.5% range since earlier this year, as officials seek more clarity on how government policy changes—especially trade tariffs—will affect the economy. Despite initial concerns that President Trump’s tariffs could boost inflation and unemployment, the Fed has been able to maintain its current stance thanks to steady job growth and cooling inflation. With many tariffs now being negotiated rather than immediately implemented, economists have scaled back their most pessimistic forecasts. The […]

Gold Dips Ahead of Fed Decision While Middle East Tensions Provide Support

Gold prices dropped slightly on Wednesday as investors held back before the Federal Reserve’s interest rate decision. While the Fed is expected to keep rates unchanged, traders are looking for hints about future rate cuts. The ongoing Israel-Iran conflict is preventing gold prices from falling too much, as geopolitical tensions typically support gold demand. Despite the small decline, analysts expect gold to stay above $3,000 per ounce due to strong buying from central banks and Chinese investors.

Fed Meeting This Week: Will Two Rate Cuts Still Be on the Table for 2025?

The Federal Reserve is expected to keep interest rates unchanged at this week’s meeting. However, investors are focused on whether Fed officials will maintain their projection of two rate cuts in 2025. The Fed’s “dot plot” – a chart showing each official’s rate predictions – will be closely watched. Despite pressure from President Trump for faster rate cuts and various economic uncertainties including Middle East tensions, most analysts expect the Fed to stick with its previous forecast of two cuts this year.

Oil Markets Surge as Trump Dismisses Quick Israel-Iran Peace Deal

Oil prices jumped about 3% to around $74 per barrel after President Trump dampened hopes for a quick Israel-Iran ceasefire. Speaking to reporters, Trump said he wants “a real end” to the conflict and Iran’s nuclear program “wiped out.” The uncertainty has pushed oil market volatility to three-year highs. While Iran’s oil infrastructure remains untouched, traders worry about potential disruptions to crude flows through the Strait of Hormuz, which handles 20% of global oil output. The region faces increased shipping risks, with navigation interference and safety concerns mounting.

Republicans Split on Senate’s $5 Trillion Debt Ceiling Tax Package Despite Business Wins

The Senate Finance Committee has released its version of President Trump’s major tax bill, featuring significant changes from the House version. Key business wins include permanent corporate tax deductions for capital investments and interest expenses, though a controversial “revenge tax” on foreign businesses remains. The bill includes modified provisions for clean energy credits, reduced tax breaks for tips and overtime (capped at $25,000 annually), and deeper cuts to Medicaid funding. Despite adding trillions to the national debt and raising the debt ceiling by $5 trillion, Republicans face internal disagreements over SALT deduction limits and other provisions, making their July 4th […]

Dollar Crisis Looms as Trump’s Policies Send Gold Soaring Past $3,400

Trump’s economic policies are driving gold prices higher by undermining confidence in the US dollar. His massive tax cuts are adding $2.5 trillion to the deficit over the next decade, while he pressures the Fed to cut rates and floats ideas about restructuring foreign-held US debt. Despite factors that should strengthen the dollar—like high tariffs and favorable interest rates—it has fallen 10% this year while gold has surged 30% to $3,400/oz. This trend reflects growing foreign investor concerns about America’s ability to manage its massive debt burden.