Home Front: Politix | |
Commerce secretary Howard Lutnick reveals Trump's ''goal'' to abolish the IRS, utilize tariffs so ''whole economy explodes'' | |
2025-02-21 | |
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The former CEO of Wall Street firm Cantor Fitzgerald expanded a day later on his belief that Trump's sweeping tariff plan will be a boon for the US economy. ''As the president said, reciprocal tariffs, either you bring yours down or we're going to bring ours up. If we go to their level, it will earn us $700 billion a year to be equal to everybody else,'' Lutnick said Thursday, during an appearance on FNC's ''America's Newsroom.'' ''And there goes our deficit. And interest rates come smashing down, and the whole economy explodes higher.'' Trump, 78, announced ahead of his inauguration last month that he plans to create an external revenue office tasked with collecting all foreign-sourced revenue, such as income from tariffs. ''For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS ...the Internal Revenue Service; that office of the United States government that collects taxes and persecutes the regime's political enemies... ),'' the president wrote in a Jan. 14 Truth Social post. ''Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves.'' On the campaign trail, Trump repeatedly boasted that his tariff plan would bring the American economy back to a ''golden age,'' noting that before 1913 — when the 16th Amendment gave Congress the power to levy federal income tax — the government was primarily funded from tariffs. The 16th amendment was necessary to override the Constitutional prohibition of a head tax. Related: Internal Revenue Service: 2025-02-11 Trump's Department of Homeland Security looking to deputize IRS agents for immigration enforcement Internal Revenue Service: 2025-02-08 Trump Announces Task Force to Root Out 'Anti-Christian Bias' Internal Revenue Service: 2025-02-05 DOGE reveals next target [IRS] for nerd army audit... and Americans are thrilled Related: Howard Lutnick 02/19/2025 US Senate confirms Howard Lutnick as Trump’s commerce secretary Howard Lutnick 02/05/2025 Mexico's president announces deal with Trump to pause tariffs for a month Howard Lutnick 12/21/2024 Bret Baier Isn't Quite As Humble As Projected-He's Selling His DC Mansion | |
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Home Front: Politix |
US Senate confirms Howard Lutnick as Trump’s commerce secretary |
2025-02-19 |
[IsraelTimes] The US Senate confirms wealthy financier Howard Lutnick as commerce secretary, putting in place a staunch supporter of President Donald Trump![]() ’s hardline trade polices. At the Commerce Department, Lutnick, who was CEO at the investment firm Cantor Fitzgerald, will oversee 50,000 employees who do everything from collecting economic statistics to running the census to issuing weather reports. But he’s likely to spend a lot of time — along with Jamieson Greer, Trump’s nominee to be the top US trade negotiator — managing the president’s aggressive plans to impose import taxes on US trading partners, including allies and adversaries alike. The Senate vote to confirm Lutnick was 51-45. Lutnick was CEO at Cantor Fitzgerald when its offices were hit in the September 11, 2001, attack on the World Trade Center. The firm lost two-thirds of its employees — 658 people — that day, including Lutnick’s brother. Howard Lutnick led the firm’s recovery and is a member of the Board of Directors of the National September 11 Memorial & Museum. Lutnick, who is Jewish, has promised to sell off his business holdings. They’re complicated. His financial disclosure statement shows that he had positions in more than 800 businesses and other private organizations. Related: Howard Lutnick 02/05/2025 Mexico's president announces deal with Trump to pause tariffs for a month Howard Lutnick 12/21/2024 Bret Baier Isn't Quite As Humble As Projected-He's Selling His DC Mansion Howard Lutnick 12/20/2024 Canada pledges beefed-up border, immigration restrictions to appease Trump |
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-Land of the Free |
Bret Baier Isn't Quite As Humble As Projected-He's Selling His DC Mansion |
2024-12-21 |
[NYPost] Trump’s commerce pick Howard Lutnick set to buy Bret Baier’s $29M DC château in a potential record-breaking deal Howard Lutnick, CEO of Cantor Fitzgerald and President-elect Donald Trump’s nominee for commerce secretary, is nearing a deal to purchase Fox News anchor Bret Baier’s opulent Washington, DC mansion. The French-style estate, located in the upscale Foxhall neighborhood, was listed for $31.9 million last year and recently reduced to $28.99 million. While the final sale price has not been disclosed, real estate experts say it could surpass the DC area’s current residential record of $24 million, set by a Georgetown home in 2007, according to the Wall Street Journal, which first reported on the transaction. |
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-Short Attention Span Theater- | |||||||||
Obama's biographer reveals ex-president fears for his legacy after 'tone-deaf preaching' harmed... | |||||||||
2024-11-10 | |||||||||
[Daily Mail, where America gets its news] Barack Obama and his wife Michelle have been slammed by his biographer for 'talking down' to voters in 'tone-deaf and clueless' preaching that harmed Kamala Harris' ill-fated presidential campaign.
He predicted that the Obamas will now largely vanish from the political scene to hang out with celebrities on Martha's Vineyard. Garrow said Tuesday's electoral rout has left Obama, 63, 'nervous' about the impact Trump could have on how he is seen by future generations.
'That has certainly taken a big hit with Trump once again triumphing.' One of the major pillars of Obama's political legacy is the Affordable Care Act (ACA), which brought health insurance to millions and outlawed denial of coverage for pre-existing conditions. Obama has been intensely aware of Trump's repeated attempts to repeal the law. Trump issued an executive order in 2017 aimed at rolling it back, but failed to push the plan through Congress. He called the act 'lousy' and said he was working to replace it during his presidential debate with Harris in September. The biographer and historian added that he believes the disastrous election result for Democrats means they will no longer want the Obamas front and center in future campaigns. 'The conclusion for Democrats is that they've got to dispense with these people from the past, including Hillary Clinton too, and move to a new generation of figures who are not in the AOC club at all,' he said, referring to left-wing firebrand Congresswoman Alexandria Ocasio-Cortez.
'I'm not sure that would necessarily decline. He still has the celebrity factor of being an ex-president,' Garrow said.
'I certainly expect them to be spending less time in Washington after early January,' he said. The power couple will be keeping themselves busy with their business endeavors including their TV company Higher Ground Productions, which was behind the movies Leave the World Behind and Crip Camp – which credited one or both of the Obamas as an executive director – the Barack-narrated documentary Our Great National Parks and the Michelle Obama Podcast.
She surprised shoppers at Costco in Livermore, northern California in September when she showed up promoting the drink, which has eight grams of sugar per can and 45 calories. Garrow said Obama will not be playing puppet-master in the Democratic party, and he believes the former president was not involved in Joe Biden's ousting in July – but only because it would have made Biden dig his heels in. 'Before Biden withdrew, I said that if he had the impression that Barack was pushing him to get out, that would backfire, because Biden has had very sore feelings going back eight years now, that he didn't think Barack sufficiently respected him,' Garrow said. 'I think the "credit" for that goes largely to Nancy Pelosi.' Related: Barack Obama 11/07/2024 Barack Obama's Diversity Agenda Drowned by Donald Trump's Pro-American Wave Barack Obama 11/07/2024 Who lame duck Joe Biden blames for Kamala's catastrophic defeat as Democratic party tears itself apart after Trump victory Barack Obama 11/05/2024 Titania McGrath: If Donald Trump wins, it's over Related: Bill Clinton 11/03/2024 House Speaker lays out massive deportation plan: moving bureaucrats from DC to reshape government Bill Clinton 11/03/2024 It's starting - Michigan Warns of Issue With Some Dominion Voting Machines Bill Clinton 11/01/2024 Bill Clinton: Kibbutzniks slaughtered on Oct. 7 were Israelis most supportive of Palestinian cause | |||||||||
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Home Front: Politix |
Trump backers, former officials being considered for top posts in 2nd administration |
2024-11-07 |
Everybody is full of advice so that President Trump can hit the ground running as soon as he is formally sworn in. [IsraelTimes] Lebanese-American businessman, who is the father-in-law of Trump’s daughter, says he’ll be point man for Lebanon to negotiate end of fighting between Israel and HezbollahDonald Trump will begin the process of choosing a cabinet and selecting other high-ranking administration officials in the coming weeks following his presidential election victory. Here are the top contenders for some of the key posts overseeing defense, intelligence, diplomacy, trade, immigration and economic policymaking. Some are in contention for a range of posts. Scott Bessent, potential treasury secretary Bessent, a key economic adviser to Trump, is widely seen as a top candidate for treasury secretary. A longtime hedge fund investor who taught at Yale University for several years, Bessent has a warm relationship with the president-elect. While Bessent has long favored the laissez-faire policies that were popular in the pre-Trump Republican Party, he has also spoken highly of Trump’s use of tariffs as a negotiating tool. He has praised the president-elect’s economic philosophy, which rests on a skepticism of both regulations and international trade. John Paulson, potential treasury secretary Paulson, a billionaire hedge fund manager and major Trump donor, is another top contender for treasury secretary. The longtime financier has told associates he would be interested in the job. A longtime proponent of tax cuts and deregulation, Paulson’s profile is broadly similar to that of other potential members of Trump’s economic team. He has publicly supported targeted tariffs as a tool to ensure US national security and combat unfair trade practices abroad. One high-profile fundraiser hosted by Paulson in April raked in over $50 million for the former president. Larry Kudlow, potential treasury secretary FOX Business Network personality Larry Kudlow, who served as director of the National Economic Council for much of Trump’s first term, has an outside shot at becoming his treasury secretary and would likely have an opportunity to take a separate economics-focused position if he is interested. While he is privately skeptical of broad tariffs, there is publicly little daylight between the policies Kudlow advocates and those of the president-elect. Robert Lighthizer, potential treasury secretary A loyalist who served as Trump’s US trade representative for essentially the then-president’s entire term, Lighthizer will almost certainly be invited back. Though Bessent and Paulson likely have a better shot at becoming treasury secretary, Lighthizer has an outside chance, and he might be able to reprise his old role if he’s interested. Like Trump, Lighthizer is a trade skeptic and a firm believer in tariffs. He was one of the leading figures in Trump’s trade war with China and the renegotiation of the North American Free Trade Agreement, or NAFTA, with Mexico and Canada during Trump’s first term. Howard Lutnick, potential treasury secretary The co-chair of Trump’s transition effort and the longtime chief executive of financial services firm Cantor Fitzgerald, Lutnick is in the running for treasury secretary. A bombastic New Yorker like Trump, Lutnick has uniformly praised the president-elect’s economic policies, including his use of tariffs. He has at times given elaborate, unvarnished opinions about what policies will be enacted in Trump’s second term. Some Trump allies had privately complained that he too often presented himself as speaking on behalf of the campaign. Richard Grenell, potential national security adviser Grenell is among Trump’s closest foreign policy advisers. During the president-elect’s first four-year term, he served as acting director of national intelligence and US ambassador to Germany. When Trump met with Ukrainian President Volodymyr Zelenskiy in September, Grenell sat in on the private meeting. Grenell’s private dealings with foreign leaders and often-caustic personality have made him the center of multiple controversies, a fact that might make another Senate confirmation process a challenge, depending on the composition of the upper chamber. However, he is considered a top contender for national security adviser, which does not require Senate confirmation, and a Senate-confirmed post is not out of the question. Among the policies he has advocated for is setting up an autonomous zone in eastern Ukraine to end the war there, a position Kyiv considers unacceptable. Robert O’Brien, potential secretary of state O’Brien, Trump’s fourth and final national security adviser during his first term, maintains a close relationship with Trump, and the two often speak on national security matters. He is likely in the running for secretary of state or other top foreign policy and national security posts. He has maintained close contacts with foreign leaders since Trump left office, having met with Israeli Prime Minister Benjamin Netanyahu in Israel in May. His views are somewhat more hawkish than some of Trump’s advisers. He has, for instance, been more supportive of military aid for Ukraine than many of his Republican contemporaries, and he is a proponent of banning TikTok in the United States. Bill Hagerty, potential secretary of state A US senator from Tennessee who worked on Trump’s 2016 transition effort, Hagerty is considered a top contender for secretary of state. He has maintained solid relations with essentially all factions of the Republican Party, and could likely be confirmed with ease in the Senate. He served as US ambassador to Japan in the first Trump administration at a time when the president touted his warm relationship with then-Prime Minister Shinzo Abe. Hagerty’s policies are broadly in line with those of Trump. Earlier in the year, he voted against a major military aid package for Ukraine. Marco Rubio, potential secretary of state Rubio, a US senator from Florida and 2016 Republican presidential candidate, is also a top secretary of state contender whose policies hew closely to those of Trump. Like Hagerty, he was a contender to be Trump’s 2024 running mate. Rubio has long been involved in foreign affairs in the Senate, particularly as it relates to Latin America, and he has solid relationships throughout the party. Mike Waltz, potential defense secretary A former Army Green Beret who is currently a US congressman from Florida, Waltz has established himself as one of the foremost China hawks in the House of Representatives. Among the various China-related bills he has co-sponsored are measures designed to lessen US reliance on critical minerals mined in China. Waltz is on speaking terms with Trump and is widely considered to be a serious contender for secretary of defense. Mike Pompeo, potential defense secretary Pompeo, who served as CIA director and secretary of state during Trump’s first term, is considered a top contender for secretary of defense but could land in various slots involving national security, intelligence or diplomacy. While he flirted with a Republican primary challenge against Trump, Pompeo never pulled the trigger, and he is now back on friendly terms with the president-elect after a period of awkwardness. He stands out as possibly the fiercest defender of Ukraine among Trump’s close allies, a position that puts him at odds with most high-ranking figures in his potential boss’s camp. Tom Cotton, potential defense secretary A Harvard College and Harvard Law School-educated Army officer-turned-US senator from Arkansas, Cotton is well-liked among Trump donors and is a serious contender for secretary of defense. Like Hagerty, he emerged as a dark-horse contender to be Trump’s running mate in the final weeks of the vice presidential selection process in June and July. Cotton represents the shrunken hawkish wing of the Republican Party, having consistently supported military aid for Ukraine. Keith Kellogg, potential candidate for national security posts A retired lieutenant general who served as chief of staff to the National Security Council under Trump, Kellogg has Trump’s ear and is a contender for several national security-related positions, though it is unclear precisely where he would land. During the campaign, he presented Trump with a plan to end the war in Ukraine, which involved forcing both parties to the negotiating table and ruling out NATO membership for Ukraine for the foreseeable future, among other measures. Tom Homan, potential homeland security secretary Homan, who served as the acting director of Immigration and Customs Enforcement for a year and a half during Trump’s first term, is a contender for secretary of homeland security. Trump made cracking down on illegal immigration the central element of his campaign, promising mass deportations. Trump frequently praised Homan during the campaign, and Homan often hit the trail to rally supporters. During Trump’s first term, Homan was a leading advocate of the administration’s controversial child separation policy, during which children of immigrants who had entered the country illegally were detained separately from their parents. Chad Wolf, potential homeland security secretary Wolf, who served as Trump’s acting secretary of homeland security for roughly 14 months during his first presidency, may have a shot at heading back to DHS. Wolf loyally carried out Trump’s hardline immigration policies, and he deployed federal agents to Portland, Oregon, to control protests during the riots that followed the murder of George Floyd, a Black man, by a white police officer. He may have some strikes against him. He resigned on January 11, 2021, just days after the January 6 attack on the US Capitol. Trump has expressed misgivings about bringing back those who resigned in the final days of his term. Wolf, however, cited the legal controversy around his appointment as DHS secretary – rather than the Capitol attack – when he stepped down. Multiple judges ruled that his appointment by Trump, which effectively circumvented the Senate, was illegal. Mark Green, potential homeland security secretary A former Army flight surgeon and the current chair of the House Homeland Security Committee, Green is considered by some Trump allies in Washington as a contender for the top job at DHS. His supporters describe him as a Trump loyalist and immigration hardliner who also has significant legislative experience. Green was nominated by Trump during his first term to serve as secretary of the Army, but he withdrew his name as past statements, which were widely seen as transphobic and Islamophobic, drew more scrutiny. John Ratcliffe, potential attorney general A former congressman and prosecutor who served as director of national intelligence during Trump’s last year in office, Ratcliffe is seen as a potential attorney general, though he could also take a separate national security or intelligence position. The president-elect’s allies view Ratcliffe as a hardcore Trump loyalist who could likely win Senate confirmation. Still, during his time as director of national intelligence, Ratcliffe often contradicted the assessments of career civil servants, drawing criticism from Democrats who said he politicized the role. Mike Lee, potential attorney general A US senator from Utah, Lee is widely seen as another top candidate for attorney general. Though the former prosecutor declined to vote for Trump during the 2016 election, he later became an unwavering ally, and he has become something of an intellectual hero among some factions of Trumpworld. Lee was a key figure in attempts by Trump and his allies to overturn his 2020 election loss to Democrat Joe Biden, and has spread unfounded conspiracy theories about the Jan. 6 attack on the Capitol. Susie Wiles, potential chief of staff One of Trump’s two co-campaign managers, Wiles is seen as the odds-on favorite to be Trump’s White House chief of staff. While the specifics of her political views are somewhat unclear, she is credited with running a successful and efficient campaign. Supporters hope she would instill a sense of order and discipline that was often lacking during Trump’s first term, when he cycled through a number of chiefs of staff. Brooke Rollins, potential chief of staff The former acting director of Trump’s Domestic Policy Council, Rollins is also a contender for chief of staff. Trump has a close personal relationship with Rollins, and often compliments her in private settings. She was generally considered one of Trump’s more moderate advisers while in office. Among other policies she supported during Trump’s first term were criminal justice reforms that lessened prison sentences for some relatively minor offenses. Kash Patel, potential candidate for national security posts A former Republican House staffer who served in various high-ranking staff roles in the defense and intelligence communities during Trump’s first term, Patel has frequently appeared on the campaign trail to rally support for the candidate. Some Trump allies would like to see Patel, considered the ultimate Trump loyalist, appointed CIA director. Any position requiring Senate confirmation may be a challenge, however. Patel has leaned into controversy throughout his career. In an interview with Trump ally Steve Bannon last year, he promised to “come after” politicians and journalists perceived to be enemies of the president-elect. During Trump’s first term, Patel drew animosity from some more experienced national security officials, who saw him as volatile and too eager to please the then-president. Massad Boulos, point man to Lebanon Boulos, a Lebanese-American businessman and Trump surrogate, revealed in a recent interview days before the election that he will serve as the US point man for Lebanon in the incoming administration, tasked with negotiating with Beirut to secure a ceasefire between Israel and Hezbollah. “I will be responsible for negotiating with the Lebanese side in order to reach an agreement, and Trump will appoint someone familiar with the Israeli file to negotiate with the Israelis,” Boulos told the Lebanese broadcaster Al-Jadeed in what appeared to be one of the first revelations regarding now President-elect Trump’s personnel. Boulos joined the Trump inner circle after his son Michael married the former president’s daughter Tiffany in 2022. He helped Trump make significant inroads in the Arab American in yesterday’s election. He will apparently assume half of the role currently filled by US President Joe Biden’s special adviser Amos Hochstein, who has been tasked with negotiating with both Israel and Lebanon. He successfully brokered a maritime boundary deal between the sides in 2022, but has not yet succeeded in brokering a ceasefire between Israel and Hezbollah since the terror group began conducting cross-border attacks on October 8, 2023. Boulos told Al Jadeed in another interview that Trump will fulfill his recent promise to “end the destruction in Lebanon” through a “comprehensive regional peace agreement.” “Trump is committed to ending the war before he enters the White House,” he added, without elaborating. An Israeli official and a former Trump official told The Times of Israel last month that the former president told Prime Minister Benjamin Netanyahu when they met in July that he wants the Gaza war wrapped up by the time he enters office. “People see that Biden and Harris failed to end the wars and failed to even return the American hostages from Gaza… Lebanese Americans are migrating to Republican Party and to Trump because they feel that Trump is their only hope to end this war, and end all the wars… so we can start talking about rebuilding Lebanon and Gaza,” Boulos said. |
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Home Front: Politix |
Obama Gets $400,000 A Pop For Wall Street Speeches |
2017-09-18 |
"At some point, you've made enough money." Who's gonna believe that poppycock? [Bloomberg] Hillary Clinton says she made a mistake when she gave speeches on Wall Street after leaving government. Taking money from banks, she writes in her new memoir, created the impression she was in their pocket. Her old boss doesn’t seem to share her concern. Last month, just before her book "What Happened" was published, Barack Obama spoke in New York to clients of Northern Trust Corp. for about $400,000, a person familiar with his appearance said. Last week, he reminisced about the White House for Carlyle Group LP, one of the world’s biggest private equity firms, according to two people who were there. Next week, he’ll give a keynote speech at investment bank Cantor Fitzgerald LP’s health-care conference. |
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Economy |
New Investor Worry: Treasury Selloff Spiking Interest Rates |
2009-05-28 |
![]() A selling spree in Treasurys pushed rates higher, taking the yield curve to its steepest on record as spreads between the 2-year and 10-year widened by over a dozen basis points on Wednesday alone. The 10-year saw its yield move above 3.70 percent, after trading at 3.55 percent the previous day. The selling wave hit bonds shortly after 1 p.m., even after the auction of $35 billion in 5-year notes was well received. "It was a great auction. It was just the follow through that was a problem," said Brian Edmonds, head of interest rate trading at Cantor Fitzgerald. Traders are bracing for more of the same Thursday. The Treasury is auctioning another $26 billion in notes, this time 7-years. The heavy issuance - more than $100 billion this week alone - has been pressuring the market. Some key data will also get the market's attention Thursday, including weekly jobless claims, durable goods and new home sales. Traders said selling in Treasurys this week was exaggerated by "convexity" selling, or mortgage related hedging, which causes traders to sell Treasurys as a hedge as mortgage prices move lower and rates go higher. The Fed, meanwhile, has been an active buyer of mortgages in an effort to keep rates lower, and until the last couple of days, selling in Treasurys did not ripple into the mortgage market. On Wednesday, mortgage spreads widened sharply. In the last couple of days, there have been some dramatic changes. For instance, David Ader of RBS said a Fannie Mae mortgage with a four-year duration has seen its duration extend to 5.7 years as rates moved higher in just several days. To hedge that move, traders would sell long-dated Treasurys, forcing yields even higher. "The bear market that has been in Treasurys has finally had an impact on something and that's a big deal," said Ader, who heads rates strategy at RBS. "It means mortgage rates are going up, and that brings into question and challenges the housing market recovery...and the economy." "What it also does, I think, is prove something of a problem for the Fed because the Fed has spent a lot of money to buy mortgages and keep mortgages rates down, and spent a little money to buy Treasurys and ease the sell off," he said. They feel the housing market is fragile and this could hurt its recovery, and it will. It may encourage them to be more aggressive at buying Treasurys. We are, not deliberately, but provocatively, challenging the Fed here." Edmonds said he believes the Fed needs to reassess its quantitative easing program and may need to increase it and aim it at different sectors of the curve. "You can't have a spike in interest rates in the long end without it impacting the economy," he said. "That's why the Fed has been a supporter of the quantitative easing. They have a choice. They could walk away from it or they could increase it to the point where it's meaningful. The $300 billion is not effective...You've got to start to talk trillions," Edmonds said. CNBC's Rick Santelli reported that a big reason for the strength in the 5-year auction was the presence of foreign central banks, also big buyers in Tuesday's 2-year auction. Some traders have speculated that China is among the buyers, coincidentally ahead of Treasury Secretary Timothy Geithner's upcoming China trip this weekend. Santelli also said the fact that the 5-year auction was "hugely underwater" within hours of the auction results shows that some of the aggressive buyers turned into sellers across the curve. He said some investors had been more aggressive holders of mortgage products recently because of the Fed's purchase program. But an unintended consequence of the program was that those investors were forced into becoming unwilling sellers as mortgage spreads widened. |
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Memories of September 11, 2001 | ||
2007-09-11 | ||
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Home Front: Tech |
U.S. 10-Year Notes Decline |
2004-04-30 |
April 30th, 2004 (Bloomberg) -- U.S. Treasury 10-year notes headed for a sixth weekly loss after a government report showed inflation is quickening, raising speculation the Federal Reserve will increase its key interest rate in the third quarter. An index the central bank uses to forecast inflation rose at an annual rate of 2 percent, the most since the third quarter of 2002. The release fueled expectations the Fed will boost rates to keep rising consumer prices from slowing the economy. Growth was 4.2 percent, less than the 5 percent median forecast in a Bloomberg News survey of economists. ``Itâs time to sell,ââ said Yasutoshi Nagai, an economist at Daiwa Securities SMBC Co. in Tokyo. ``This is not a good time to be holding Treasuries. Inflation pressures are rising and so are Treasury yields.ââ The benchmark 4 percent note due in February 2014 fell 4/32, or $1.25 per $1,000 face amount, to 95 20/32 at 11:15 a.m. in Singapore, according to Cantor Fitzgerald LP. Its yield rose 2 basis points to 4.56 percent. A basis point is 0.01 percentage point. The 10-year note yield may rise to 4.7 percent by the end of May, Nagai said. He forecasts the Fed will raise rates in August, bringing forward his prediction for an increase in September. The U.S. unit of Daiwa is one of the 23 primary U.S. government securities dealers that trade directly with the Federal Reserve Bank of New York. |
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Fifth Column |
Hoax call dashes hope |
2001-09-18 |
For three days, Bill and Elma Sugra had been holding out hope for news of their son, Bill, 30, who had been in One World Trade Center when the plane hit last Tuesday. At 12:39 p.m. Friday, the phone rang in the Sugras' Allentown, Pa., home and a woman on the other end said she was a nurse at New York General Hospital. "My daughter handed the phone to my husband and then the woman said Bill was at the hospital with two broken arms, two broken legs, crushed ribs and a blood clot, and he is in critical condition and in surgery," said his mother. "She said to rush to the hospital. We were jumping up and down and saying our miracle had happened, and we were laughing and crying and hugging ourselves." But before they started off for New York City, which is about an hour away, the Sugras tried to call the hospital. There was no listing for any New York General. Suspicious, they checked "call return" on their phone and figured out that the call had come from the 610 area code, their area code, and not from New York City. It was then they realized that the call had been a hoax. "Words can't describe what we went through when we learned that," said Elma Sugra. "We had been sitting around since Tuesday waiting to get that call." The Sugras have notified local police and have been reassured that every effort will be made to locate the caller. Their son works for eSpeed, the electronic trading unit of the U.S. brokerage firm Cantor Fitzgerald. His office was on the 103rd floor of the north tower, which was hit at 8:48 a.m. last Tuesday. About 700 Cantor Fitzgerald employees are missing. |
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Home Front | |
Court declaring WTC missing dead | |
2001-10-03 | |
Three weeks after terrorists crashed jetliners into the Trade Center towers, Michael Rothberg and 40 co-workers from the bond trading firm Cantor Fitzgerald became the first among 5,219 people missing in the wake of the attack to be declared dead by a court. Seven hundred of Cantor Fitzgerald's employees haven't been heard from since the day of the attacks. All worked above the 100th floor of the first tower hit. "It's been three weeks and nobody from the firm got out," Iris Rothberg said Tuesday. She said her family asked a special state Supreme Court panel to clear the way for a death certificate. It's just a first step in dealing with a list of legal issues the family faces with her son's death, and it does nothing to lessen the pain.
Giuliani said Tuesday that 1,202 families had applied for death certificates for loved ones among the missing. Of the 363 people confirmed dead as of Wednesday, 301 have been identified. Officials expect it to take months to recover remains from the 1.2 million tons of rubble and say some of the victims may never be found. | |
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