THE COUNTRY AND EVERYWHERE ELSE. >> IT'S JUST SO COOL. THREE HOST COUNTRIES I KNOW, IT'S KIND OF INCREDIBLE.WE'LL GET YOU THE DETAILS. >> GOOD TO HAVE YOU WITH US ON THIS WEDNESDAY MORNING. I'M JOE FRYER. >> AND I'M SAVANNAH SELLERS.>> THANKS FOR STARTING YOUR DAY WITH US. WE'RE GOING TO BEGIN THIS WEDNESDAY MORNING AGAIN IN LOS ANGELES, WHERE PROTESTS CONTINUE IN RESPONSE TO IMMIGRATION RAIDS IN THE CITY. >> MAYOR KAREN BASS PUT IN PLACE A CURFEW LAST NIGHT FOR THE PART OF DOWNTOWN LA WHERE WE'VE SEEN THE ...

I'm trying to work out whether the Bessen and the and the reporting that maybe he's going to be considered for Fed chair after after Powell is good news for the markets or a risk for the markets given how well many within the markets think he's handled that tension between being loyal to Trump and executing the tariff regime and those of course negotiations with the trading partners. Yeah, he's he's definitely seen by the market as a safe pair of hands, but again what you just said there, he's seen as very ...

Scott Bessent is seen as a safe pair of hands. It's really still a question mark of maybe the market reaction if he is picked. But Trump does say that he wants to name a successor very soon.Formal interviews have yet to take place and Jerome Powell term isn't yet over until May 2026. But the speculation here is, Tom, that if Trump does want to have some sort of influence on Fed policy, he would name a shadow Fed chair sooner rather than later. So the markets will watch what the shadow Fed chair says rather ...

Thank you for being here today, Madam Secretary. Thank you. I wanted to start off with your goal of shutting down the education department.You've previously said that Congress could pass legislation to do that next year. Do you still expect that to be the timeline. Uh I don't know that I have said that they could do it next year.Uh I I don't know what the timeline is going to be, but clearly the Department of Education cannot close without congressional action and consent. So it is my goal to continue to wo ...

- What is the estimated cost of the deployment for the Guard and the Marines to LA and where's this funding coming from. Will it be coming from quality of life programs that affect our service members or our families. If you wanna wait till I finish.- [Speaker] Before I hand it to. - Such as updates, housing and barracks. - Before I hand it to Bryn, the insinuation that we're pulling money from housing and barracks in order to fund this is disingenuous and incorrect.- I'm just asking. - [Speaker] Bryn can g ...

Summary of SLM (Sallie Mae) 2025 Conference Call Company Overview - **Company**: Sallie Mae (SLM) - **Event**: 2025 Conference held on June 10, 2025 Key Points Company Evolution and Strategy - Sallie Mae has adopted a hybrid growth and capital return strategy, aiming for modest balance sheet growth post-CECL phase, with a target of mid- to high single-digit organic earnings growth and double-digit earnings per share growth over time [4][6] - In 2024, Sallie Mae achieved a 10% year-over-year growth in originations, exceeding initial expectations, and grew the balance sheet by approximately 3% [5][6] - The company exited a low-yielding legacy portfolio, resulting in a more significant growth in the PSL balance, estimated at around 5% [6] Federal Student Loan Reform - Anticipation of federal student loan reform is high, with expectations for meaningful changes that could impact the private lending market [9][30] - Sallie Mae believes that the current federal program allows excessive borrowing without proper underwriting, leading to unsustainable debt levels for students [9] - The company is preparing for potential reforms and is optimistic about the opportunities they may present [9][30] Competitive Landscape - Sallie Mae maintains a competitive edge with over 2,000 college relationships across the U.S., which is expected to continue benefiting both undergraduate and graduate loan segments [12] - The graduate loan market is currently limited, primarily due to competition from the federal PLUS program, which offers unlimited borrowing without underwriting [16][22] Credit Quality and Underwriting - The credit profile of graduate borrowers is generally stronger than that of undergraduates, as they typically have established credit histories [12][18] - Sallie Mae follows a risk-based pricing methodology and expects to maintain a low annualized net charge-off rate in the high ones to low 2% range [19][37] - Recent changes in underwriting practices are expected to yield benefits over time, particularly as newer cohorts enter repayment [45][46] Capital Markets and Loan Sales - Sallie Mae executed a $2 billion loan sale earlier in the year, achieving strong execution with nearly 10% returns [21] - The company plans to continue its loan sale strategy, which has been critical for managing balance sheet size and capital [22][25] - Market conditions have changed, leading to increased uncertainty, but there remains broad demand for the asset class [25] Strategic Priorities - The company has outlined four key strategic priorities: executing the core strategy, preparing for federal reform, exploring alternative funding sources, and optimizing education services to create additional revenue streams [30][52] - Sallie Mae is committed to meeting its guidance for the year and exceeding its five-year framework, with a focus on operational readiness for potential reforms [51][52] Market Trends and Future Outlook - The company is observing trends in the education market, including a shift towards nontraditional education programs, which are being evaluated for their return on investment [48][49] - Sallie Mae is optimistic about the potential for growth in the graduate loan market and the overall education financing landscape as reforms are anticipated [30][49] Additional Insights - The company has a low exposure to international students, as its programs require borrowers or cosigners to be U.S. citizens or legal residents [20] - The management is focused on creating a more resilient capital structure that is less dependent on market conditions, which could enhance earnings stability [31][52]

There are protests that continued throughout downtown Los Angeles. Overnight, this time less violent than what we saw over the weekend. Fewer clashes reported yesterday with law enforcement as groups marched across the city in protest of the Trump administration's immigration raids.Despite that, the White House deployed another 2,000 National Guard troops, bringing the total number to 4,700 Marines also were activated. California Governor Gavin Newsome says the deployment of troops is unnecessary and only s ...

V i e w p o i n t | 06 Jun 2025 16:17:32 ET │ 22 pages US Economics Weekly Fed on hold, but cuts still coming CITI'S TAKE An unchanged 4.2% unemployment rate and 139k new jobs is enough to keep the Fed on hold in June and July and we now expect policy rate cuts to resume in September. The unemployment rate would be closer to 4.6% if not for a drop in the participation rate and will likely rise in coming months. ISM services and manufacturing both came in below 50, suggesting a cooling economy. The Fed's Bei ...

I can't emphasize enough the level of fear and terror that is in Angelinos right now, not knowing if tomorrow or tonight it might be where they live, it might be their workplace, should you send your kids to school, should you go to work. And you remember this from several years ago, the same type of fear that was going around. And it makes me feel like our city is actually a test case.A test case for what happens when the federal government moves in and takes the authority away from the state or away from ...

Well, good afternoon and thank you for being here. I apologize. I'm going to have to uh I I'll give uh my my piece and then I'll uh go back on a conference call I I was on and have to go back on, but I'll be back uh after that for one-on- ones if uh if you have an interest.So, good evening and uh thank you. Thank you, Mayor Bass. Uh as of this afternoon, the Los Angeles Police Department is on tactical alert and in a state of partial mobilization.These designations are critical tools that allow us to expand ...