The Treasury Secretary comes to the defense of the Fed Chair and criticizes "stenographers posing as journalists," including one of the best Fed reporters working today.
graham steele
@grahamsteele.bsky.social
Assistant Professor, UNC School of Law. Teaching and writing about financial and corporate law. Former Assistant Secretary, US Treasury Department & Democratic chief counsel, Senate Banking Committee. https://law.unc.edu/people/graham-steele/
It’s former California Supreme Court justice Mariano-Florentino Cuéllar
Reuters@reuters.com · yesterdayAnthropic names global affairs chief to tackle AI policy as Trump tensions persist reut.rs/4xbqIsk
The deadly blaze that devastated the Altadena neighborhood in Los Angeles County early last year was ignited by a transmission tower belonging to the utility company Southern California Edison, fire officials said in a report released on Tuesday.
Eaton Fire Caused by Utility’s Transmission Tower, Report Says
The 2025 fire, which killed 19 people and destroyed the Altadena community in Los Angeles County, began at an inactive tower belonging to Southern California Edison, officials said.
nyti.ms
This Bitcoin Bridge Shut Itself Down Because AI Was Finding Bugs Too Fast
This Bitcoin Bridge Shut Itself Down Because AI Was Finding Bugs Too Fast
Non-custodial Bitcoin swap provider Boltz says attackers are finding vulnerabilities faster than its team can fix them, forcing it to suspend swaps indefinitely.
decrypt.co
“.. a loss for the Trump administration in one of its earliest efforts to dismantle President Joe Biden’s campaign to reduce climate-warming greenhouse gases ..” @apnews.com apnews.com/article/epa-...
FIMA is a useful illustration of the issues with Warsh's view that the Fed's non-monetary policy functions aren't independent. Is FIMA monetary policy? Financial stability? International finance? "Public monies" (bc it involves the Treasury market)? These functions aren't always clearly separable.
Julia Coronado@jc-econ.bsky.social · yesterdayThe JPY intervention illustrates a primary reason the Admin wants to control the Fed--to control the powerful levers of the Fed's balance sheet. Even if he gets this thru this blurring of lines b/w fiscal & monetary policy will cost Warsh political capital on the FOMC www.wsj.com/economy/cent...
Bessent’s yen intervention signals new era of US ‘currency activism’ ft.trib.al/2GtgfOQ
Bessent’s yen intervention signals new era of US ‘currency activism’
Bid to support Japan’s currency shows US is ready to scupper trades that push against its interests
ft.trib.al
The biggest technological revolution of our lifetime and it has nothing to do with AI, crypto, metaverse, robots or any of the other massively hyped "tech" the media always talks about instead
Sarah Taber@sarahtaber.bsky.social · 2d agoAbsolutely unbelievable how solar power has taken off worldwide during the Hormuz oil crisis. You don't have to hand it to him, but Trump may have done more to finally kick off a global civilization of effete librul solar users than anyone else in the West
The Sox have shipped off Connolly Early and Marcelo Mayer for an injured utility infielder and a middle reliever, respectively.
Razzball@razzball.bsky.social · 2d agoit's truly hard to know who to believe when front offices say stuff like Marcelo Mayer is a cornerstone for the future then they just dump him for a reliever
And another thing: why am I paying to pave all these streets I'll never drive on, either?
USA TODAY Opinion@usatodayopinion.usatoday.com · 2d agoOpinion: Mamdani's idea may sound appealing, but it's NYC taxpayers who will take the hit, subsidizing discounts they may never even use.
The law firm Paul Weiss was a progressive stalwart for decades and led the legal resistance against President Trump in his first term. Then it surrendered without a fight. A New York Times investigation details the inside story of its transformation. trib.al/YQawT9z
“.. The disclosure marks the first time a bank has formally tied money laundering concerns to U.S. President Donald Trump's family business.” @reuters.com $COF www.reuters.com/legal/govern...
More activism from Bessent’s Treasury. interesting lil shift www.ft.com/content/0f9b... (£)
US Treasury undertakes historic intervention in yen market
New York Fed sells euros to buy yen following recent speculation that Tokyo intervened to support Japan’s currency
ft.com
Some truly amazing polling results about the unpopularity of crypto. Completely out of step with how much attention crypto gets in DC.
Corey Frayer@csfrayer.bsky.social · 5d agoSomehow I managed to underestimate how incredibly unpopular crypto is. After just a couple years they outrank oil companies, Wall Street and data centers. The Senate is only considering a crypto gift package for campaign money. Crypto remains the corruption GOAT. www.semafor.com/article/07/3...
Is transitioning to 24/7 trading the only way to end this war?
GOLIKEHELLMACHINE@golikehellmachine.com · 5d agowhat do you even say at this point
EXCLUSIVE: Bessent's 'to do' list: buy $5-10 billion worth of Japanese yen, Reuters photo shows reut.rs/4w1pLC6
EXCLUSIVE: Bessent's 'to do' list: buy $5-10 billion worth of Japanese yen, Reuters photo shows
U.S. Treasury Secretary Scott Bessent on Friday exposed a "to-do" list during President Donald Trump's cabinet meeting indicating he was contemplating U.S. purchases of $5 billion to $10 billion worth of Japanese yen, a Reuters photograph taken during the meeting held at Camp David shows.
reut.rs
gift link: www.nytimes.com/2026/07/31/b... @nytimes.com
Warsh Considers Reducing Frequency of Fed Policy Meetings (Gift Article)
The Federal Reserve has met at least eight times a year for decades. Reducing the number of meetings would represent the biggest change by Kevin M. Warsh since he became chairman.
nytimes.com
Must-read deep dive on Alt5 Sigma/AI Financial—the appliance recycler turned opioid-treatment firm turned digital-finance company that acquired $1.5 billion of WLFI's magicless beans, routing more than $500 million to the Trumps. By Annie Massa, Nicola M White, and Olga Kharif for @bloomberg.com
Trump Crypto Tie-Up Fueled Family Windfall, Investor Losses
Last summer, a money-losing digital-payments firm with a history of legal troubles seized what its leaders thought was a big opportunity: a deal with the Trump family’s crypto platform.
bloomberg.com
U.S. farmers are a reliably Republican group, but Trump’s policies in his second term, including sweeping tariffs and the Iran war, have created difficult conditions in the agricultural sector. www.cnbc.com/2026/07/30/t...
Trump promised a 'golden age' for agriculture. Farmers in Iowa say they're still waiting
President Donald Trump has promised a "golden age" for agriculture, but farmers in Iowa and elsewhere are struggling with tariffs and the Iran war.
cnbc.com
The Trump administration is now attacking the “15 state laws that prohibit the reporting of medical debt on credit report” library.nclc.org/article/what...
What the CFPB’s Recent FCRA Preemption Guidance Gets Wrong | NCLC Digital Library
The CFPB has issued an October 28 interpretive rule suggesting that the Fair Credit Reporting Act (FCRA) preempts the growing number of state laws limiting medical debt credit reporting. This article ...
library.nclc.org
J.P. Morgan’s Feroli on Fed chair Warsh’s presser: “It's hard to know what to make of Warsh’s remarks, which involved a lot of well-turned phrases but little in the way of a coherent macro view.”
Jon Husted brought 226 data centers to Ohio and gave them over $2.5 billion in tax breaks as they drive up your energy bills. Ohio deserves a leader who will fight to protect our communities instead of plotting to give sweetheart tax breaks to giant corporations.
Boy does this piece gloss over some of the truly noxious stuff put out by Manhattan and some of its "scholars" over the years.
Ned Resnikoff@resnikoff.bsky.social · last wk.Seeing how many respectable liberals, and even leftists, in New York media continued to speak warmly of Reihan Salam is what made me first realize that some journalists have no criteria for moral judgment other than whether someone is personally nice to them. www.nytimes.com/2026/07/29/n...
The 30-year Treasury yield, which moves with inflation expectations, jumped to 5.21 per cent, their highest level since mid-2007. Follow live updates: ft.trib.al/p9TMRwZ
New draft paper on SSRN: "Fact Avoidance," forthcoming in the Harvard Law Review Supreme Court Issue. This Essay identifies a recurring feature where the Court decides presidential power cases entirely on legal grounds without engaging at all with the facts /1 papers.ssrn.com/sol3/papers....
Fact Avoidance
<p><i><span>The legality of the President’s exercise of statutory power depends on questions of both law and fact. Yet courts often focus exclusively on the for
papers.ssrn.com
Today, @wsj.com released its months-long investigation into RealToken, a private-equity crypto business that has put tenants in Detroit through hell—selling fractional ownership to foreign investors and collecting rent but failing to maintain properties.
How a $140 Million Crypto Real Estate Empire Fell Apart
Watch how RealToken went from attracting thousands of global investors to liquidating its $140 million portfolio.
wsj.com
"20 [Banking Committee] employees have left during Scott’s tenure, and he is currently looking for his fourth staff director since becoming chairman 18 months ago.” “Scott has had five communications directors in five years, and three chiefs of staff in less than three.”
Tim Scott’s Hunger Games
Tim Scott has developed a reputation for running two of the Senate’s most dysfunctional offices—consumed by high turnover, internal rivalries, and a string of costly political missteps. Some Republica...
puck.news
It's going to be fascinating to watch how Warsh's rhetoric that thinking about climate change is "mission creep" and too "politically charged" for central banks meets the reality of the increasing economic costs of climate change.
Jesse Felder@jessefelder.com · last wk.‘The strengthening El Niño on top of an oil-supply shock could turn a temporary jump in energy prices into a broader inflation problem and put new Federal Reserve Chair Kevin Warsh in a difficult position.‘ www.marketwatch.com/story/forget...
