News

Paul Ingrassia, Trump’s nominee to lead the Office of Special Counsel, has been accused of sexual harassment, according to a report from Politico.

Federal Reserve (Fed) Bank of St. Louis President Alberto Musalem spoke about the United States (US) economy and monetary policy at a fireside chat before the Springfield Area Chamber of Commerce and Public policy speakers, stating that inflation is running high.

The St. Louis Fed Pres. Musalem is speaking and says:

• Fed’s goals are in tension

• Inflation running high, labor market showing signs of potential weakness

• Balanced approach on monetary policy only works if inflation expectations are anchored

• Less able to respond to short-term labor market fluctuations if inflation expectations become unanchored

• Right now inflation expectations a little elevated up to 2 years out

• Long-term inflation expectations are anchored

• inflation materially above target.

• Labor market looks at full employment, could we get

• Expect tariff impact on inflation to fade by 2nd half of 2026.

• Only 10% of inflation we are seeing is tariffs

• Expects labor market. In some orderly way

• prices to stop increasing due to tariffs after mid 2026.

• There are material risks around baseline expectations.

• Inflation could rise more, labor market could weaken more.

• Supported September rate cut as insurance against labor market weakening.

• Policy is between modestly restrictive and neutral.

• Financial conditions are accommodative.

• Open-minded on potential further rate cuts as further insurance.

• Believe we should tread with caution.

• Limited room for more easing before policy gets overly accommodative.

• Monetary policy should continue to lean against inflation

• Expects 4Q GDP to be healthy

• GDP growth is likely to be close to potential for the year.

• Data suggst all households are spending.

• Anecdotes shall low income households stretching to do so

• Consumer spending by some groups like Hispanics has softened.

• Cutting back on spending because of inflation, not from job market.

• Really important to achieve 2% inflation goal.

• St. Louis Fed will conduct on the survey to measure labor market this month

Overall, he’s more dovish than hawkish—willing to cut rates to protect the labor market—but his caution on inflation means he’s not strongly dovish. He’s positioning himself as a measured dove rather than an aggressive one.

This article was written by Greg Michalowski at investinglive.com.

• Oil rigs: -4 at 418
• Gas rigs +2 at 120
• Total Rigs -2 at 547.

The price of crude oil is trading sharply lower by $2.48 and $59.05 as the market reacts to the prospects of higher tariffs slowing growth and demand. Hopes for continued peace in the Middle East is also an influence as is the production increases.

Pres. Trump said yesterday the gasoline will be at $2 per gallon shortly

This article was written by Greg Michalowski at investinglive.com.

The company expanded on its $7 billion lease agreement for artificial intelligence data centers with CoreWeave.

The Euro (EUR) extends its pullback against the Japanese Yen (JPY) on Friday, with EUR/JPY losing 0.35% to 176.40 at the time of writing, after reaching an all-time high of 177.94 in the previous session.

The Nobel Peace prize was awarded to Venezuelan opposition leader Maria Corina Machado. The five-member committee reportedly decided to nominate Machado by Oct. 6, according to earlier reports. Some sizeable bets were made late Thursday:

• Investigation launched: Norwegian officials are probing suspicious Polymarket trades tied to the 2025 Nobel Peace Prize announcement.

• Suspicious bets: At least three traders placed large wagers on Venezuelan opposition leader María Corina Machado winning, just hours before the official announcement.

• Profits made: The trades generated about $90,000 in combined profit, with one account (“Trader 6741”) earning around $53,500.

• Market disruption: Machado’s odds spiked Thursday evening, shifting what had been a tight race with Yulia Navalnaya, Donald Trump, and Pope Leo XIV.

• Leak concerns: The timing raised fears of insider information leaks, as the committee reportedly made its decision by October 6.

• Official response: Nobel Institute spokesperson Erik Aasheim confirmed they are “looking into it.”

The White House has called the vote political. So far Pres. Trump has remained quiet but I can hear “rigged” and “political” along with the potential for more.

This article was written by Greg Michalowski at investinglive.com.

The Nobel Peace prize was awarded to Venezuelan opposition leader Maria Corina Machado. The five-member committee reportedly decided to nominate Machado by Oct. 6, according to earlier reports. Some sizeable bets were made late Thursday:

• Investigation launched: Norwegian officials are probing suspicious Polymarket trades tied to the 2025 Nobel Peace Prize announcement.

• Suspicious bets: At least three traders placed large wagers on Venezuelan opposition leader María Corina Machado winning, just hours before the official announcement.

• Profits made: The trades generated about $90,000 in combined profit, with one account (“Trader 6741”) earning around $53,500.

• Market disruption: Machado’s odds spiked Thursday evening, shifting what had been a tight race with Yulia Navalnaya, Donald Trump, and Pope Leo XIV.

• Leak concerns: The timing raised fears of insider information leaks, as the committee reportedly made its decision by October 6.

• Official response: Nobel Institute spokesperson Erik Aasheim confirmed they are “looking into it.”

The White House has called the vote political. So far Pres. Trump has remained quiet but I can hear “rigged” and “political” along with the potential for more.

This article was written by Greg Michalowski at investinglive.com.

The Trump administration and Republicans have sought to blame Democrats for the government shutdown, and any negative fallout from it.

United States Baker Hughes US Oil Rig Count came in at 418, below expectations (421)