The Federal Reserve has pursued the unprecedented monetary policy of lowering rates to zero and increasing their portfolio from 500 billion to over 4 trillion. But as the Fed reminds us, there is a cost.
While the Trump campaign was publicly feuding with Megyn Kelly of Fox News, in private, the ties between the Trump family and Rupert Murdoch, Executive Chairman of News Corp and 21st Century Fox, may have been more extensive than previously thought.
Iran has removed a powerful missile from a launchpad east of Tehran within the past few days, Fox News reported, amid rising diplomatic tensions between the U.S. and Iran, as the two nations continued trading public barbs about the Islamic Republic's missile tests.
Speaking before the House's Homeland Security Committee, the new Homeland Security Secretary John Kelly accepted blame for the hasty rollout of President Trump's order suspending immigration from seven countries, while defending the measure as lawful and constitutional. "It's all on me," Kelly told the Committee, acknowledging lawmakers were not fully apprised.
Top California Democrats called Trump cruel and his proposals unconstitutional after the businessman-turned-politician threatened to withhold federal funding from the most populous U.S. state if lawmakers passed a so-called sanctuary bill aimed at protecting undocumented immigrants.
In a relatively quiet session, which may see US traders sleep in a bit after last night's Superbowl thriller, European and Asian shares rose ahead of Mario Draghi’s testimony at the European Parliament, while US equity futures were fractionally higher (up 0.1% to 2,293) after stocks jumped the most in a week, as traders assessed the trajectory for interest rates while scrutinizing every new Trump tweet.
In the wake of Starbucks' announcement that it would hire thousands of refugees over the next five years, a veteran-owned coffee business has put forth its own hiring initiative: to hire 10,000 U.S. veterans.