JUSTTHENEWS (Ben Whedon) - Treasury to repurchase $6B in bonds in bid to lower debt maintenance
Bond yields soared on the news, which comes as the U.S. national debt clears $40 trillion.
NYTIMES (Joe Rennison and Alan Rappeport) - Treasury Plans $6 Billion in Debt Repurchases to Battle Rising Yields
Bond yields rose after the announcement, suggesting investors were underwhelmed by the size of the purchases.
YOUTUBE (Fox Business) - Treasury proposes to nix tax-free status of 18,000 schools and universities
Manhattan Institute Vice President Jesse Arm discusses the U.S. Treasury's proposal to take away the tax-free status of 18,000 schools and universities because of DEI practices on 'The Evening Edit.' #fox #media #breakingnews #us #usa #new #news #breaking #foxbusiness #theeveningedit #treasury #trump #donaldtrump #dei #education #schools #universities #colleges #taxes #tax #politics #political #politicalnews #government #policy #finance #legal #students #america
REDSTATE (RedState) - DEI Must Die — Treasury, IRS Propose New Rules to Wipe Out the Practice at Up to 18,000 Institutions
JUSTTHENEWS (Ben Whedon) - Treasury announces rules to end tax exemption for schools with race-based aid
The Treasury also eliminated IRS provisions that permitted schools to discriminate in admissions, scholarships, and financial aid, but permits such institutions to offer support for by other criteria.
AXIOS (Emily Peck) - Markets can't ignore the war anymore
Oil prices are heading back toward $100 a barrel, and, perhaps more crucially, the price of diesel fuel futures is now sitting at an all-time high. Why it matters: Investors are starting to recognize that higher oil prices from the Iran war aren't something they can continue to ignore. The big picture: Higher energy prices are showing up across the economy, driving up costs for companies, regular people and even governments around the world that are now facing higher borrowing rates. - The rising price of energy is a big factor pushing bond yields higher and worrying policymakers in the U.S. and the rest of the developed world. Catch up quick: After falling off initial early war highs, oil prices started rising in July. At the time,…
YOUTUBE (Fox News) - US-Iran war reaches 6-month mark #shorts
The U.S. and Iran war has reached its six-month mark. The Treasury Department moves to open a UAE branch of Egyptian bank for doing business with Tehran. #foxnews #news #us #fox #treasury #sanctions #iran #banking #finance #economy #middleeast #worldnews #businessnews #breakingnews Don’t just watch Fox News—be part of it. Become a Fox News Patriot today. https://youtube.com/foxnews/join
AXIOS (Courtenay Brown) - The case for the U.S. dollar's digital edge
New financial technologies are making it faster and cheaper to move money across borders, seemingly reducing the world's reliance on the dollar . - But new research presented at the Jackson Hole symposium suggests financial innovation may instead tighten the dollar's grip on global finance. - Financial innovation is the theme for the annual gathering of central bankers, where they're grappling with how these technologies reshape the financial system. Why it matters: Dollar dominance gives the U.S. enormous financial clout and helps keep demand for its debt strong. - If the paper is right, stablecoins and other forms of tokenized money could strengthen that position, even as concerns grow about America's fiscal health. What they're…
AXIOS (Neil Irwin) - Fed's Warsh under pressure to clarify message in highly anticipated Jackson Hole speech
Federal Reserve chairman Kevin Warsh made clear four weeks ago that he wants to use his speech at the Kansas City Fed's annual symposium in Jackson Hole, Wyoming, to take on big, lofty ideas, as opposed to the tactical details of what the Fed may do in this year's three remaining policy meetings. - Events have not cooperated. The big picture: Warsh is under intense pressure to give a clearer message Friday at 10am ET than he has so far on the current inflation landscape, the prospects for near-term interest rate increases and the relationship between the Fed and the Treasury. - Markets are skittish, the Treasury has undertaken controversial interventions in bond and currency markets, and investors have grown restless with Warsh's…