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Consumer Credit Unexpectedly Shrinks For The First Time Since 2024 As Credit Card Rates Jump

After two consecutive outsized jumps in consumer credit in the months of March and April, when gas prices surged and inflation resumed its track higher, lifting most prices as a result of the war in Iran, moments ago the Fed published its latest consumer credit (G.19) report for the month of May and it was a doozy: …

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FOMC Minutes Show 'A Few' Fed Members Wanted To Hike In June, 'Majority' Fear Higher Inflation

Tl;dr: The minutes underscored a more hawkish tone on inflation. UBS traders noted that most participants cited scenarios in which price pressures could remain elevated, including stronger AI-related demand, the ongoing Middle East conflict and tariffs. In those cases, nearly all of those officials said some additio…

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Haredi MK Gafni urges Netanyahu to advance Torah study bill unchanged despite legal warnings

MK Moshe Gafni, leader of the haredi (ultra-Orthodox) Degel HaTorah faction, demanded on Wednesday that Prime Minister Benjamin Netanyahu advance the contentious Basic Law: Torah Study bill unchanged, despite legal warnings that its current wording could provide haredim who evade military service with benefits simil…

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