Give us a tip. What's the what's the one long you would hit for the next contest. Hmm.I would say probably probably the yield curve. It just depends on where. I think it'll be higher at that point in time.Man would be very esoteric. So many think. Well, it would definitely.I would definitely be betting on substantially lower front end rates will have a we'll have a new Fed chair within six months at that point in time. And I think Trump's going to pick someone who's going to be uber dovish. Well, let's talk ...

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 ...

Department of Education Initiatives - The Department of Education aims to work with Congress to potentially close the department, ensuring educational services and funding continue to flow through the states [2][3] - The department is beginning a process of discussion with both Republicans and Democrats regarding the potential closure, with more initial support from the Republican side [4][5] - The administration has revoked billions of dollars in funding to several private universities, including Harvard, Colombia, Cornell, Brown, and Princeton, due to concerns over compliance with laws and campus activities [7] - The department is considering an all-of-government approach to higher education, coordinating with agencies like the State Department, HHS, and DOJ [30][35][36] - There was a suggestion to dismantle the department, with functions potentially moving to agencies like the SBA or Treasury, though this is still under discussion [41][42] University Funding and Compliance - Universities are expected to abide by US laws to receive taxpayer-funded programs, and negotiations are ongoing to determine if and when funding will be restored [12][13][14] - The administration is looking at universities' practices and programs, encouraging self-evaluation to ensure compliance [15] - The IRS is reviewing Harvard's tax-exempt status, considering the university's $53 billion endowment and whether some of that should return to citizens [21][22] - The department reminded Colombia's accreditor to ensure the university complies with the law, particularly Title VI civil rights [24][25] - The administration may restrict access to federal student aid for universities violating civil rights, as taxpayers expect compliance with the law [28][29] International Students and Foreign Funding - The president has floated imposing a 15% cap on international students, specifically mentioning Harvard, to ensure US students are not penalized [36][37] - Universities are required to report the amount of foreign funding they receive under Section 117 of the Higher Education Act to prevent undue influence [35] - The administration wants to ensure universities know more about the background of international students to address concerns about campus agitation [33][34] Student Aid and Education Value - The reconciliation bill may include changes to federal student aid, potentially capping loan amounts based on the chosen program [43] - The department is restructuring the FAFSA application to include information about potential earnings relative to degree programs and college costs [44][45] - The department aims to provide students with better tools to assess the value of education, considering alternatives like community college or skill-based education [48][49] Workforce Reduction - The department has reduced nearly half of its workforce and is providing support to help employees find new jobs [51][52][53] K12 Simplified Funding Grant - The administration has proposed consolidating 18 grants into a $2 billion K12 simplified funding grant to reduce regulatory burden [57][59][61] - States will determine how the money from the simplified funding program is spent, with less regulation [60][61] - The goal is to offset the net reduction in total funding by eliminating regulatory burden, as teachers spend 47 cents of every dollar on regulatory compliance [62][63] Title IX Compliance - The administration is focused on ensuring compliance with Title IX, particularly regarding men participating in women's sports [65] - The department is addressing violations of Title IX as they occur, rather than putting out a bullseye to find targets [66] Diversity and Ideology - The department raised concerns about the lack of ideological diversity at Harvard, where only 3% of professors are conservative [74] - The department is investigating whether a lack of ideological diversity is leading to unrest at some universities [75]

- 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 ...

Public Safety Concerns - The level of fear and terror among Angelinos is significant due to uncertainty about potential threats to their homes, workplaces, and schools [1] - This fear is reminiscent of a past event, suggesting a recurring pattern of anxiety within the city [1] Government Authority and Experimentation - The city is perceived as a test case for the consequences of federal government intervention and the removal of authority from state or local government [2] - There is concern that the city is being used as an experiment to assess the impact of such interventions, potentially setting a precedent for other cities [2]