Jerome Powell said the Fed won’t wait for 2% inflation to cut...
Jerome Powell said the Fed won’t wait for 2% inflation to cut rates. The central bank won’t wait to hit its inflation target before bringing interest rates down but wants to have “greater confidence” that inflation will get there in order to make cuts, Powell said at the Economic Club of Washington, DC, in his first public event since June’s cooling inflation numbers came out. But don’t get too excited: The Fed chair wasn’t willing to get into specifics about when rate cuts might be coming.
Robert F. Kennedy Jr., who’s running for president as an independent candidate, will get Secret Service protection because of the attempted assassination of Donald Trump.
In more election news: BlackRock pulled a 2022 ad filmed in a Pennsylvania classroom that featured Thomas Crooks, who allegedly shot at Donald Trump this weekend, as a student in the background. And Elon Musk will reportedly donate $45 million a month to a pro-Trump group.
Apple released public beta versions of the newest software for iPhone, Mac, iPad, and Apple Watch.
Macy’s ended talks of a buyout with investment firms Arkhouse Management and Brigade Capital Management after months of wrangling.
Burberry is replacing its CEO and suspending its dividend as the British luxury brand known for its signature plaid warned that it’s expecting an operating loss for the first half of the year.
Goldman Sachs was the latest big bank to benefit from rebounding investment banking fees as deals start making a comeback.
Wiz Khalifa was arrested in Romania after smoking marijuana on stage.
Benchmark U.S. crude oil for August delivery fell 30 centsto $81.91 per barrel Monday. Brent crude for September delivery fell 18 cents to $84.85 per barrel.
Wholesale gasoline for August delivery fell 2 cents to $2.49 a gallon. August heating oil was unchanged at $2.51 a gallon. August natural gas fell 17 cents to $2.16 per 1,000 cubic feet.
Trump picks J.D. Vance as his running mate, adding venture-capital experience to GOP ticket
Republican presidential nominee Donald Trump has chosen Sen. J.D. Vance...
Republican presidential nominee Donald Trump has chosen Sen. J.D. Vance of Ohio to be his running mate, tapping a rising GOP star known for his 2018 memoir “Hillbilly Elegy,” as Trump takes on President Joe Biden in the White House race.
Vance brings experience in venture capital to Trump’s presidential bid, having worked in that field alongside influential tech XLK entrepreneur Peter Thiel.
AI, edge computing usher in new era for Vital Energy
Vital Energy, formerly Laredo Petroleum, has increased its oil production...
Vital Energy, formerly Laredo Petroleum, has increased its oil production by 45,000 barrels per month by leveraging sensor data, AI and edge computing to automate electrical submersible pump operations. Vital Energy Chief Technology Officer Brandon Brown envisions "almost limitless" opportunities for AI in oil and gas and Brown stressed the importance of quality data in driving digital transformation.
