The average net worth that Americans feel is needed to qualify as wealthy has surprisingly declined, compared to last year, though it is still an eye-popping figure, Charles Schwab found. The financial services company said in the latest edition of its "Modern Wealth Survey" that Americans now view $2.3 million as the benchmark for counting as wealthy, pointing to what they see as a worsening economy. That marked a $200,000 decrease from 2024, when Americans said the net worth required to be classified as w ...

OM uh director Russ Vote is calling out Fed Chair Jay Pal, writing in an expost that Pal has grossly mismanaged the Fed. uh Russ Folult uh joins us now and and we'll talk about the the more maybe uh wide ranging uh issues in in terms of uh you know monetary policy then then we can get into I said maybe you know if I could print money Russ you heard what I said I' I might make Versailles I mean I might I'd have servants I'd have uh I don't think I could overspend on my facilities but we we probably don't we ...

.@SteveForbesCEO explains that Trump can take on the Federal Reserve in its intransigent refusal to cut rates: have the Treasury issue bonds in gold, which would provide a simple, everyday metric as to whether Washington is undermining the dollar's integrity. #WhatsAhead https://t.co/DouaGSkxYk ...

Former New York Fed President Bill Dudley says there’s no compelling evidence that the current level of interest rates is significantly restraining economic activity (via @opinion) https://t.co/TJm6TIKyI3 ...

The ECB should lower interest rates further if economic expansion falls short of forecasts and drags down inflation excessively, according to Governing Council member Fabio Panetta https://t.co/9bjWBXWDqV ...

How quickly can things swing back when everyone is short dollar right now. Well, that is something the electorate has always have to take into account, right. The positioning can mean that the moves don't go the way that you would normally expect them to be.And and, you know, there are various things that could get us into a situation where the dollar maybe starts to behave more like a haven again and we see more cash flowing back into the US or in a very good news situation for the US as well. Likewise, th ...

In South Africa, a tough-talking police commissioner is winning over residents weary of high crime rates — the latest example of a more hardline approach gaining traction around the world https://t.co/8YUo5yJiog ...

July 10, 2025 04:27 AM GMT Investor Presentation | Asia Pacific HK/ASEAN Financials: July 2025 Slowing GDP growth and uncertainty over US rates keep our industry views In-Line, with high TSR stocks in SG/HK preferred. We are less positive on EM ASEAN, with PH preferred. MY looks defensive near term, but valuations are stretched. ID looks better later in the year; for now, stick with BCA. We expect the debate in 2H to still be dominated by macro events: For ASEAN banks, the debate is likely to revolve around ...

RT Mel Mattison (@MelMattison1)MMT 101: You finance the gov't at ultra-low short-term rates. This keeps interest expense as % of GDP in check even as overall debt levels rise. Other reasons: HELOCs tied to SOFR, wants to unlock $12T+ in home equity to juice economy. Corporates can issue floaters, also tied to short-term rates. I could go on. But feel it somewhat pointless as all people want to do is claim some sort of intellectual superiority to DJT rather than see the driving force behind his motivations. ...

Trade and Tariffs - The Trump administration is issuing tariff demand letters, totaling 22 letters so far, to ignite negotiations with some nations and political standoffs with others [1] - Brazil was hit with a 50% tariff, leading to political tensions as the Brazilian president views it as a political message [1][15] - The market is uncertain about tariffs, with only a handful of deals signed and details obscured; many countries are under pressure to deliver concessions to the U S by August 1 to avoid higher tariffs [1] - The U S has already collected billions of dollars in tariffs, estimated to reach around $300 billion by the end of the year, which is a little over 1% of the U S economy [41] - The market does not fully believe President Trump's statements about tariffs, and uncertainty around trade policy remains high [11][12] - The negative effects of tariffs may not be as bad as initially priced into the market, but the top-line benefits promised may not materialize [5][13] - The most important trade deal for the White House to present is with Europe, given its status as the largest investor in the U S and the complexity of needing approval from 20 different countries [21][22] Market and Economic Impact - Tech stocks, industrial stocks, and NASDAQ are at record highs, with NVIDIA up 40% since Trump tariffs [2] - The S&P 500 closed at a record high, while industrial stocks were less than 1% from achieving a record high [4] - Market gains are primarily driven by big tech companies like Microsoft, Amazon, and NVIDIA [6][7] - Smaller companies in the Russell 2000 and S&P 500 mid-caps are struggling and not near record highs, indicating a lack of broadening in the rally [8] - Imports to the U S represent roughly 13%-14% of GDP, with only a small portion covered by tariffs so far, making the impact visible but not necessarily prominent [15] - The uncertainty surrounding tariffs is making the Federal Reserve wary of cutting rates too quickly [17] Geopolitics and Policy - Secretary of State Marco Rubio met with his Russian counterpart to express disappointment with Vladimir Putin over attacks on Ukraine [1][23] - American-made weapons have resumed shipments to Ukraine, including artillery shells and mobile rocket artillery missiles [29] - The U S has not given Ukraine any U S F-16s but has okayed allies to do so [34] - The Justice Department has opened criminal investigations into former FBI Director James Comey and former CIA Director John Brennan [23] - A federal judge in New Hampshire blocked President Trump's effort to limit automatic birthright citizenship, reinstating protections that were paused last month [71] Agriculture - For American farmers, President Trump's tariff policy is a mixed bag [50] - Corn prices are under $4, and soybean prices are under $10, reflecting a market with a surplus and a lack of demand [51] - China did not meet the goals and requirements of the Phase One agreement during the first Trump administration [51] - The U S agriculture relies on several hundred thousand farmworkers, primarily in specialty crop and dairy areas [54] - Changes to the SNAP program could reduce farm income, as $020 of every food dollar spent at a grocery store ultimately ends up with a farmer [63]