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1 Interest Rates Held Steady By Fed, But Maybe Not For Long
The Federal Reserve did exactly what everyone expected yesterday, keeping the current interest rate of 5.25-percent to 5.5-percent in place. There was potential good news hinted at for the September meeting of the Fed, though, with a very real possibility of a rate cut then. Fed Chair Jerome Powell said at yesterday’s press conference that the agency could cut the rate at the September meeting if current trends in the economy continue until then. When pressed for a more definite answer, Powell said “We’ve made no decisions about future meetings and that includes the September meeting. We’re getting closer to the point at which we’ll reduce our policy rate, but we’re not quite at that point yet. According to the CME FedWatch tool, the odds of a reduction in the interest rate at the September meeting are over 85-percent.
2 Trump Said That Vice President Kamala Harris Recently Decided To Be Black Instead Of Indian
Trump appeared at the National Association of Black Journalists in Chicago. The interview became hostile early on, with Trump saying of Harris “I didn’t know she was black until a number of years ago when she happened to turn black and now she wants to be known as black. So, I don’t know, is she Indian or is she black?” Harris is the daughter of two immigrants, a Jamaican father and an Indian mother. The crowd was unsurprisingly restless and noisy during the interview.
3 Boeing Names New CEO With Background In Mechanical Engineering
Boeing went in a different direction when choosing its new CEO. Aerospace industry veteran Robert “Kelly” Ortberg, who has an extensive background in mechanical engineering, will succeed outgoing CEO David Calhoun starting Monday. Calhoun’s experience prior to taking over the aircraft manufacturer was strong in regulatory and business areas, and was previously the chairman of Nielsen. In a statement issued by Boeing, Ortberg said “There is much work to be done, and I’m looking forward to getting started.” Boeing reported a loss of $1.4-billion in the second quarter after a series of safety issues and malfunctions on some of its aircraft.