More from Brent Jabbour
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Investors underestimating Fed’s resolve to bring down inflation, insider says
Despite signs of an economic downturn, inflation is persisting in some of the hardest-to-avoid categories for consumers, like food and housing. The Federal Reserve is expected to continue hiking its interest rate to restrictive territory until inflation comes down significantly, according to minutes of its July session released Wednesday. While July inflation stabilized month over… -
Breaking down the tax implications of Biden’s Inflation Reduction Act
President Biden signed the Inflation Reduction Act into law Tuesday, finalizing his signature piece of legislation just before the midterms. The bill provides $369 billion for clean energy investments, $64 billion for Affordable Care Act premium subsidies, allows Medicare to negotiate drug prices and caps out of pocket costs at $2,000 per year. Democrats said all… -
With student loan deadline approaching, what will Biden do before midterms?
The moratorium on student loan payments and interest is set to expire Aug. 31. That means President Joe Biden has a big announcement to make within the next two weeks as to whether he will end or extend the freeze. Political experts believe with the midterm elections right around the corner, he will almost certainly… -
Congress wants answers about FBI’s Mar-a-Lago search warrant
Washington lawmakers still have questions about the FBI’s execution of a search warrant at former President Donald Trump’s home. Congressional Republicans are calling on the Justice Department to release the affidavit used to get the Mar-a-Lago search warrant approved. Both parties are asking for a congressional briefing from the intelligence community. The warrant and receipt… -
Midterms could be challenging for Republicans
The November midterms are approaching and the “red wave” Republicans are looking for is not looking as likely as it once was. Between candidate recruitment issues, smaller war chests and recent legislative accomplishments by Democrats, cold November waters may merely ripple. “The terrain isn’t nearly as favorable as you might have expected. And I think… -
Search warrant for Trump home released; several sets of classified documents found
A judge ordered the Department of Justice’s warrant to search former President Donald Trump’s Mar-a-Lago home unsealed Friday. The warrant and a receipt of items removed were subsequently released online. The document authorized the seizure of any documents with classification markings and any boxes they might be found in as well as other boxes stored… -
Netflix makes games? Five gaming investments that have yet to pay off
The video game industry experienced a massive boom during the COVID-19 pandemic, but then Americans spent 13% less on gaming in the second quarter of this year from the same period a year ago and more time outside. Consumer spending has also been taking a hit amid worries about the state of the economy. Still,… -
AG Garland personally approved decision to seek Trump search warrant
Attorney General Merrick Garland announced Thursday he personally approved the decision to seek a search warrant of former President Donald Trump’s Mar-A-Lago home. The revelation came as Trump and his allies have taken aim at the Justice Department and FBI’s handling of the raid. Garland also revealed that the Justice Department asked a federal court… -
House Chief Administrative Officer deems TikTok a high security risk
The chief administrative officer for the House of Representatives is officially recommending members not download or use TikTok due to security concerns. A CAO memo states the app made by a Chinese-owned company is a high-security risk. According to the CAO, TikTok can collect biometric identifiers like faceprints or voice prints. It also actively gathers… -
Demystifying the Senate’s budget reconciliation process
The Senate is either famous or infamous, depending on whom you ask, for requiring 60 votes to end a filibuster and pass legislation. But when it comes to money, there’s one way to get things done with a simple majority: budget reconciliation. Reconciliation allows budget measures to pass with just 51 votes. It was created… -
Iran’s Revolutionary Guard tried to have John Bolton killed
A member of Iran’s Islamic Revolutionary Guard has been charged with developing a plot to murder former National Security Adviser John Bolton. The Justice Department announced Shahram Poursafi, working on behalf of the IRGC, tried to pay an American resident $300,000 to “eliminate” Bolton. The Justice Department said the plot was likely designed as a… -
Afghan refugees could attain permanent residency in US with new bill
A bipartisan group of lawmakers in both chambers of Congress introduced a bill to let Afghan evacuees who helped the U.S. military stay in the United States permanently. The sponsors include Sen. Lindsey Graham, R-S.C., Sen. Amy Klobuchar, D-Minn., and Rep. Peter Meijer, R-Mich., indicating broad support for its passage. When the American military pulled… -
Consumer prices stay flat in July, annual inflation cools to 8.5%
Inflation decelerated in July to 8.5% year over year following June’s peak of 9.1%, according to the Bureau of Labor Statistics report out Wednesday. A dip in energy prices helped cool the consumer price index, which has hovered at four-decade highs all year. Overall consumer prices were flat for the month of July from June,…