Midwife who claimed babies were being attacked in the womb by vaccines is struck off
A midwife who claimed on social media that the Covid-19 pandemic was a 'Trojan horse' and that babies were being attacked in the womb by vaccinations given to mothers has been struck off.
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Straits Times
34 minutes ago
- Straits Times
Trump pressures US Fed's Powell to cut rates ‘a full point'
WASHINGTON – President Donald Trump urged the US Federal Reserve to cut rates by a full point, intensifying his pressure campaign against Chair Jerome Powell. ''Too Late' at the Fed is a disaster!' Mr Trump posted June 6 on social media, using a derisive nickname for Mr Powell. 'Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!' The US president has repeatedly called on the Fed to lower rates, but thus far has not said by how much. While the size of Mr Trump's rate-cut demand – a full percentage point – was unusual, his call for the central bank to lower rates is not new. The president, who first nominated Mr Powell to the job in 2017, has regularly complained that the Fed chief has been too reluctant to cut borrowing costs. Mr Trump pushed Mr Powell to lower rates in a White House meeting in May. Fed officials are scheduled to meet June 17-18 in Washington and are widely expected to leave their benchmark rate unchanged, as they have done all year. Many policymakers have said they want to wait for more clarity over how Mr Trump's policies on trade, immigration and taxation will affect the economy before they alter rates. It would be highly unusual for the Fed to lower its benchmark rate by a full percentage point at one meeting outside of a severe economic downturn or financial crisis. Officials last cut rates by a full point in March 2020, when the US economy was cratering as the Covid-19 pandemic prompted widespread shutdowns and layoffs, triggering a deep recession. The Fed targets 2 per cent inflation over time, and adjusts interest rates with the goal of maintaining both stable prices and maximum employment – the two responsibilities assigned to it by Congress. Lowering rates too quickly could stoke inflationary pressures, while holding them at high levels for too long could restrain the economy more than desired. Mr Trump posted his call after new data showed US job growth moderated in May, but was still better than expected, and the unemployment rate held at a low 4.2 per cent. In a separate statement, the White House touted the 'BOOMING economy,' including job gains, increasing wages and tame inflation. Fed policymakers in recent weeks have described the labor market as on stable footing, which they've said provides further cause for them to keep borrowing costs steady for now – especially with inflation still above their target. Borrowing costs Mr Trump, in a subsequent message, accused Mr Powell of 'costing our Country a fortune' by keeping rates at their current level, saying they have increased borrowing costs for the federal government that 'should be MUCH LOWER!!!' 'If 'Too Late' at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due. Biden went mostly short term. There is virtually no inflation (anymore), but if it should come back, RAISE 'RATE' TO COUNTER. Very Simple!!!' he posted. US borrowing costs have swelled in recent years as the Fed lifted interest rates to combat historically high inflation. The average interest rate on US Treasuries outstanding is currently around 3.36 per cent, well above levels the government enjoyed before the Fed started ramping up rates. Last fiscal year, the government's interest costs on debt were the equivalent of 3.06 per cent as a share of gross domestic product, the highest ratio since 1996. Mr Trump and congressional Republicans have vowed to rein in government spending and lower deficits, but the tax Bill they are advancing would likely do the opposite, according to several estimates. The nonpartisan Congressional Budget Office said on June 5 that added interest costs from the Bill would come to US$551 billion (S$708 billion) over a decade. CBO estimates didn't account for other potential effects, such as any boost to growth. The agency separately has estimated interest costs would shrink if high tariffs stay in place, reducing borrowing needs. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Miami Herald
40 minutes ago
- Miami Herald
Veteran investor makes surprising Fed rate call after jobs report
Okay, Jerome Powell, now it's your turn. President Donald Trump on June 6 took a break from bashing Elon Musk to vent his spleen - again - at Federal Reserve Chairman Jerome Powell. Don't miss the move: Subscribe to TheStreet's free daily newsletter Trump took to his social media platform to call on Powell to slash interest rates by a full percentage point. "'Too Late' at the Fed is a disaster!" Trump said on Truth Social. "Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!" Trump made his demand even though the Bureau of Labor Statistics reported that U.S. hiring in May rose more than predicted. Nonfarm payrolls rose 139,000 for the month, exceeding estimates for 125,000. The last time the central bank made a single rate cut of a full percentage point was in March 2020 to address economic fallout from the onset of the Covid-19 Fed cut rates by one full point in total during President Joe Biden's final year in office. "If 'Too Late' at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due," Trump said, using the two-word name he calls Powell. "Biden went mostly short term." More Economic Analysis: Hedge-fund manager sees U.S. becoming GreeceA critical industry is slamming the economyReports may show whether the economy is toughing out the tariffs "There is virtually no inflation (anymore), but if it should come back, RAISE "RATE" TO COUNTER. Very Simple!!! He is costing our Country a fortune. Borrowing costs should be MUCH LOWER!!!" It seems like only yesterday when the president was giving Musk - Tesla's (TSLA) CEO and a big-time Trump backer - all kinds of misery after the former head of the Department of Government Efficiency decried Trump's "big beautiful bill" of tax breaks and spending cuts as pork-laden and a "disgusting abomination." Actually, it was yesterday, come to think of it, when Trump suggested that an easy way to save "Billions and Billions of Dollars" was to terminate all of Musk's government contracts and subsidies. Tesla and Musk's rocket company, SpaceX, both benefit from a a number of government programs. Musk, who took credit for getting Trump elected, also decided it would be a good idea to bring up Jeffrey Epstein's name while Tesla shares nosedived. TheStreet Pro's Peter Tchir says that if you're looking for excitement, this is the social-media donnybrook to watch. Unlike the payroll data. The veteran investor said in a recent TheStreet Pro column that the report looked decent on the surface but "there are a lot of things to pick on." "The prior two months were revised down by 95,000," he said. "That negates much of this month's reported gain in the Establishment Survey." The Establishment Survey, also known as the Current Employment Statistics survey, provides monthly data on employment, hours and earnings of workers on nonfarm payrolls. "The Household Survey, used for the unemployment rate, lost over 600,000 jobs," Tchir said. "The unemployment rate remained unchanged only because labor-force participation dropped by a similar amount." Related: An investor looks at navigating tariff wars The birth/death model, which estimates the number of jobs created by new businesses and lost from defunct businesses, added 199,000 jobs, he added. "With low survey response rates, etc., there are a lot of things to question about the quality of the data (the seemingly endless downward revisions validate that 'questioning'), but this number is back to 'bothering' me,'" Tchir said. Without this calculated number, he explained, "we would have lost jobs in the Establishment Survey "kind of like the Household Survey indicated." "Sure, it is possible that in a time of peak uncertainty, lots of new businesses were formed, but the number seems high," Tchir said. "It is the second month in a row when there is a lot of uncertainty, where birth/death adjustment was bigger than the number itself. That is why I would weigh this into being more dovish, if I was at the Fed." Foul weather might have also had a negative impact on the data. "If the Fed was looking to cut rates, it could probably come up with a story around this data to let it do so," Tchir said. "Since the Fed doesn't seem to be looking to cut rates, though, there is enough of a narrative in this report to keep it on hold." "After this data, I remain in the three-to-four-cuts-this-year camp, starting in July." Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
an hour ago
- Yahoo
Longtime Grand Avenue fabric shop Treadle Yard Goods has closed amid owner's cancer battle
Treadle Yard Goods, a fabric shop with a nearly half-century-long history on Grand Avenue, has closed as its owner undergoes cancer treatment. Michele Hoaglund, who bought the store about a decade ago from its founding owners, was diagnosed with ovarian cancer around Christmas, she wrote on the store's social media page. The shop's final day was June 1. 'My focus must be on my health and getting well,' she wrote in the store's farewell message on its website. 'I have enjoyed getting to know so many of you over the years and loved seeing and hearing about your sewing projects.' Hoaglund could not be reached for comment this week. Hoaglund, a longtime employee who had initiated the store's class program, took over the store in 2015 from Mary Daley, who had founded it in 1976 with her late husband, Paul. The shop was known not just for its wide fabric selection but also for its employees' skill at supporting and advising customers' projects, and for its community outreach efforts. In 2020, the store provided free kits for sewists to make their own Covid-19 face masks. Then, in 2022, amid the Russian invasion in Ukraine, Hoaglund organized community sewing sessions to produce more than 200 handmade baby blankets for Ukrainian refugees in Poland. Derrick Thompson guilty of all charges in Minneapolis high-speed crash that killed 5 young women Minneapolis man sentenced for stabbing, hanging St. Paul woman's dog after argument Snelling and St. Clair intersection fully reopens after construction Ex-Metro Transit employee claims religious discrimination in lawsuit St. Paul police name detective, officer, employee of the year
