The Latest Breaking News from US Federal Reserve

The dollar index (DXY00 ) Wednesday fell by -0.43%. The dollar erased an overnight rally and turned lower after Wednesday’s Fed-friendly US May CPI report bolstered expectations for the Fed to cut interest rates later this year. Also, the wider-than-expected US May federal budget deficit was bearish for the dollar...

The June Fed meeting was a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. have to say about interest rates and the economy.

President Donald Trump's lawyers will argue Wednesday before an appeals court that his criminal hush money conviction should be erased

Inflation remains stubbornly above the Federal Reserve’s 2% target, which makes it less likely that the central bank will cut its key short-term interest rate.

U.S. inflation likely picked up a bit last month as President Donald Trump’s tariffs start to bite, but lower prices for gas and possibly for air fares and used cars may limit the overall increase

California Governor Gavin Newsom lambasted a Republican Senator for posting a video to social media in which he mocks Newsom for levying legal action against President Donald Trump after the National Guard was deployed to Los Angeles.

The waiting is the hardest part with trade war truce talks underway and inflation data on the way.

Cutting rates will redistribute wealth upward again, which is not ideal at a time of social friction.

 Other reconciliation provisions for Banking panel would pare spending at the Fed, Treasury, HUD and at the Securities and Exchange Commission.

S&P 500 futures traded up marginally this morning.

June S&P 500 E-Mini futures (ESM25) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.01% this morning, pointing to a muted open on Wall Street as investors turn their attention to talks between the U.S. and China in London, and also await the release of key…