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In Visit to Federal Reserve Building, Trump Pushes for Big Cuts to Interest Rates
President Donald Trump urged the Federal Reserve to lower interest rates again, but this time in a construction zone. The president and some of his allies toured the Federal Reserve buildings under construction on Thursday. In the past two weeks, Trump has ramped up his criticism of the cost overruns on the building project. Analysts said Trump's public upbraiding of the construction was potentially laying the groundwork for firing Fed Chair Jerome Powell. Trump seemingly walked back some of his threats against Powell, saying he didn't believe it was 'necessary' to fire him. However, Trump did not back off from his insistence that the central bank should cut its influential federal funds rate at its meeting next week. Trump said the Fed's stance on interest rates is holding back economic progress. The Federal Reserve has held interest rates in the 4.25% to 4.5% range throughout the year as it waits to see how tariffs will affect the economy. 'Everything is good. The one thing we have to do is get housing prices down and get interest rates down so people can buy a house,' Trump said. Trump said interest rates should be cut by three percentage points. However, that is unlikely to happen in one meeting. The Fed typically makes cuts of a quarter-point at a time. The last time the Fed cut rates an entire percentage point was March 2020 at the start of the COVID-19 pandemic. Before that, they cut one percentage point in December 2008, during the Great Recession. Trump's allies are also pressuring Powell and his colleagues. According to a Bloomberg News report, Azoria Capital's James Fishback filed a lawsuit today to force the Federal Reserve to open up meetings of the Federal Open Market Committee to observers. The Fed has always conducted its meetings behind closed doors. Presidents have rarely visited the Federal Reserve, with former President George W. Bush's visit in 2006 being the last time it occurred. Read the original article on Investopedia
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George Santos has to report to prison tomorrow — he's not taking it well
George Santos, Washington, DC, 2023 Former U.S. Rep. George Santos has until 2 p.m. Friday to report to federal custody to begin serving more than seven years in prison for wire fraud, identity theft, money laundering, and theft of public funds. But instead of expressing contrition or withdrawing from public view, the disgraced fabulist gay New York Republican has spent the week descending into a digital rampage, accusing prosecutors of conspiracy, threatening federal officials and journalists, and invoking far-right grievances against former President Barack Obama and the justice system, while praising President Donald Trump. Keep up with the latest in + news and politics. 'Good morning! I woke up extra excited that my president is putting a bulldozer through the swamp and it is glorious!' Santos posted on Sunday. 'Today is a beautiful day to Seize the passports and freeze the accounts of Barack Obama! I know in my bones that he will be held accountable table for tearing the country apart with the Russian hoax!' Related: Who is George Santos, the lying gay former Republican congressman being sentenced to prison? Minutes later, he added: 'T-6 days! Good morning world! God bless you all.' On Monday, he wrote: 'It's an understatement to say that I have started to dissociate.' Related: Disgraced Republican George Santos asks judge to ignore his posts while considering his prison sentence The public unraveling comes after Santos pleaded guilty to 23 federal felony counts. This spring, he begged U.S. District Judge Joanna Seybert to disregard his inflammatory social media presence while considering his sentence. In an April letter to the court, Santos claimed to be remorseful and asserted that 'true remorse isn't mute,' arguing that his online posts, some of which called the Justice Department a 'cabal of pedophiles,' were expressions of protected speech, not evidence of defiance. Federal prosecutors disagreed. In their sentencing memo, they argued Santos had 'reverted to form' and showed a 'strong risk of recidivism and a lack of remorse.' Citing his repeated public denials and attempts to reframe himself as a victim, prosecutors called for 87 months in prison, a sentence the judge ultimately granted. Related: George Santos begs Trump for pardon after judge handed down 7-year sentence On Tuesday, Santos turned his ire toward those involved in his prosecution, particularly Assistant U.S. Attorney Ryan Harris, FBI Special Agent Kenneth Hosey, and his former campaign treasurer, Nancy Marks. 'I want the world to know this!' he wrote. 'Assistant United State attorney Ryan Harris along with all the prosecutors in my case and the FBI agents lead by special agent Kenneth Hosey all knowingly participated in an conspiracy to mislead the Judge in my case Joanna Seybert of the Easter district of New York.' Santos alleged that 'they pinned me as a ring leader and organizer of the actions that took place in my campaign,' despite, he claimed, knowing that 'the leader and organizer was my treasurer Nancy Marks…' Marks pleaded guilty in October 2023 to conspiring to defraud the U.S. government and directly implicated Santos in court. She admitted to falsifying campaign finance reports to make it appear Santos had personally loaned his campaign $500,000 when he had not. She also submitted a fake list of campaign donors to the Federal Election Commission and acknowledged using real names without permission. At the time, her attorney said Santos had 'mentally seduced' her and suggested she might testify against him. Despite that record, Santos this week sought to reframe Marks as the architect of wrongdoing and himself as the fall guy. In the same post, he accused her of laundering funds from John Cummings's 2020 congressional campaign against Rep. Alexandria Ocasio-Cortez, and criticized DOJ officials for not prosecuting her, Cummings, or Republican strategist Chapin Fay. 'I guess only George Santos is interesting since I flipped a seat in NYC!' he wrote. Later Tuesday, Santos rejected repeated calls to express remorse. 'I'm [tired] of hearing people say: You aren't remorseful, you need to show remorse. Or This to shall pass. Sorry but neither of those statements are true.' By Wednesday, Santos had escalated his rhetoric into outright menace. 'I'm not trying to tweet my way out of prison folks… But I sure as shit will wreak havoc with the truth before then. The next 48hrs I'll be leaving a bunch out on the field and don't give a rats ass about it. I'm confident I'll be buying in prison granted my situation so I don't want to die and let all this die with me.' A direct threat followed that: 'Reporters trying to find out the location I'm surrendering to beware of this… there will be an investigation and whoever your source is in the BOP or Marshals office they will be buried alongside you. That is a promise.' He also issued a warning about political retribution. 'If President Trumps and Congress don't focus on fixing the justice system when democrats take control of government they will put everyone they oppose in prison. And when FBI Houston posted about the sentencing of a 23-year-old woman who stole $8.6 million in unemployment funds and received 18 months, Santos erupted: 'And I get 7 fucking years! Tell me this is not an upside down political justice system! I hope the prosecutors, FBI agents and the Judge in my case pay for this… their actions are a clear abuse of their power. Justice might be blind and slow but I believe everyone will get exposed eventually!' Santos was expelled from the House in December 2024 following a bipartisan vote and a damning House Ethics Committee report, which found that he 'blatantly stole from his campaign.' His conviction in May 2024 followed federal charges first filed a year earlier, including seven counts of wire fraud, three counts of money laundering, and two counts of making false statements to Congress. As of Thursday evening, the Bureau of Prisons had not publicly disclosed the location where Santos is expected to serve his sentence This article originally appeared on Advocate: George Santos has to report to prison tomorrow — he's not taking it well RELATED George Santos's Ex-Campaign Treasurer Implicates Congressman and Pleads Guilty to Criminal Charge George Santos pleads guilty in federal court to identity theft and fraud Disgraced Republican George Santos asks judge to ignore his posts while considering his prison sentence
Yahoo
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Investors in Kogan.com (ASX:KGN) have unfortunately lost 75% over the last five years
We're definitely into long term investing, but some companies are simply bad investments over any time frame. We really hate to see fellow investors lose their hard-earned money. Spare a thought for those who held Ltd (ASX:KGN) for five whole years - as the share price tanked 76%. Furthermore, it's down 11% in about a quarter. That's not much fun for holders. With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Given that only made minimal earnings in the last twelve months, we'll focus on revenue to gauge its business development. As a general rule, we think this kind of company is more comparable to loss-making stocks, since the actual profit is so low. It would be hard to believe in a more profitable future without growing revenues. In the last five years saw its revenue shrink by 5.1% per year. While far from catastrophic that is not good. The share price fall of 12% (per year, over five years) is a stern reminder that money-losing companies are expected to grow revenue. It takes a certain kind of mental fortitude (or recklessness) to buy shares in a company that loses money and doesn't grow revenue. That is not really what the successful investors we know aim for. The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image). We like that insiders have been buying shares in the last twelve months. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. So we recommend checking out this free report showing consensus forecasts A Different Perspective shareholders are down 3.5% for the year (even including dividends), but the market itself is up 13%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. However, the loss over the last year isn't as bad as the 12% per annum loss investors have suffered over the last half decade. We would want clear information suggesting the company will grow, before taking the view that the share price will stabilize. It's always interesting to track share price performance over the longer term. But to understand better, we need to consider many other factors. Case in point: We've spotted 2 warning signs for you should be aware of. If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: most of them are flying under the radar). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
