Markets News Regulators Stocks 

The Fed’s next decision is its most important in recent memory — and the future of the stock market is at stake

“The blonde-haired elephant in the room when it comes to the Fed decision is President Donald Trump’s continued insistence upon criticizing the Fed” writes Joe Ciolli for businessinsider.com. They’ll devour any bit of guidance from Powell and his colleagues for any hint of what’s ahead for interest rates.If the central bank signals too much future monetary tightening for the market’s tastes, the 10-year bull market could meet its demise.A big part of that stems from the turbulence that’s rocked the stock market in recent weeks.Read more:We just got the most…

Read More
News 

Former elections chief Snipes sues to get job back

“Former Broward elections supervisor Brenda Snipes is asking a federal judge to reinstate her after she was removed from office by Gov” writes The Associated Press for sun-sentinel.com. Snipes filed a lengthy federal lawsuit on Monday against Scott and Senate President Bill Galvano.Snipes came under fire during the contentious recount that followed the November elections. Source: sun-sentinel.com Share This:

Read More
News 

Senate to vote on Trump-backed federal pot legalization, but passage unlikely

“Tom McClintock, R-Calif., to protect state recreational marijuana markets from federal agents and prosecutors” reports washingtonexaminer.com. National polls generally show more than 60 percent support for recreational marijuana, but reform through legislation, rather than ballot initiative, is slow.In a 2015 House vote, lawmakers voted 222-206 to reject an amendment from Rep.Chambers of Congress rarely vote on recreational marijuana.The Senate is expected to vote Tuesday on an amendment that would federally legalize marijuana by allowing states to regulate their own medical and recreational pot markets. Source: washingtonexaminer.com Share This:

Read More
Markets News 

Elizabeth Warren wants to turn the federal government into a generic drugmaker

“Elizabeth Warren has a novel idea for lowering drug costs: Let the federal government manufacture cheaper generic versions of brand-name prescription treatments” reports washingtonexaminer.com. By three years after enactment, the government would need to be manufacturing at least 25 copycat treatments, effectively turning the new federal health office into a large generic drug company. Source: washingtonexaminer.com Share This:

Read More
News Regulators 

Treasury yields slip amid market volatility; Fed meeting ahead

“The yield on the benchmark 10-year Treasury note sank to 2.826 percent while the yield on the 30-year Treasury bond dropped to 3.082 percent” writes Ryan Browne for cnbc.com. The big news for traders this week is the Federal Open Market Committee’s (FOMC) upcoming meeting, where the central bank will set interest rates. The central bank is widely expected to hike rates on Wednesday, however expectations for further rate hikes in 2019 have dampened amid concerns of a potential slowdown in economic growth.Stocks have suffered wild bouts of volatility as…

Read More
News 

Partial shutdown would hit border patrol, trade war bailouts, and more Trump priorities

“Congress also typically provides back pay to federal workers who work during a shutdown, but may or may not provide that pay to furloughed workers” reports washingtonexaminer.com. Still, a short-term shutdown or funding lapse could have a minimal impact on services and payments to workers, especially since many offices will be closed for Christmas.But a majority of federal departments were not included and would have to cease services unrelated to national security in a shutdown.Unlike the other two brief government funding lapses earlier this year, only a quarter of federal…

Read More
News 

Gold ticks up as dollar stays under pressure ahead of Fed meeting

“Though upside potential for gold prices faces impediment from a vigorous dollar, looming economic uncertainties will present optimistic conditions for safe-haven assets beyond 2018.”” reports cnbc.com. “The U.S. dollar remains the prime mover for gold prices in the current term,” Benjamin Lu, a commodities analyst with Phillip Futures in Singapore, said in a note.Gold prices rose slightly on Tuesday ahead of a key U.S. Federal Reserve meeting, as speculation that signs of economic turbulence may prompt the central bank to put brakes soon on its monetary tightening cycle kept the…

Read More
News 

Federal court says NY ban on nunchucks unconstitutional

“Judge Pamela Chen issued her ruling Friday in a Brooklyn federal court on the martial arts weapon made famous by Bruce Lee” writes The Associated Press for seattletimes.com. NEW YORK (AP) — A 1974 New York state ban on nunchucks that was put into place over fears that youth inspired by martial arts movies would create widespread mayhem is unconstitutional under the Second Amendment, a federal court has ruled. Source: seattletimes.com Share This:

Read More
News Oil 

Zinke’s departure puts Interior in hands of former oil lobbyist

“Bernhardt also represented Alaska in a 2014 lawsuit against the Interior Department that sought to allow oil exploration in the Arctic National Wildlife Refuge” writes Jennifer A for seattletimes.com. Most of his professional life has been tied to Interior — either working inside the agency or lobbying it from the outside.David Bernhardt is expected to be named acting Interior secretary by President Donald Trump, following the resignation of current chief Ryan Zinke, which was announced Saturday.Most of Bernhardt’s professional life has been tied to Interior — either working inside the…

Read More