Breaking Through The Noise: Econ Facts, July 31, 2026
💲More corruption – Sec. of Commerce Howard Lutnick moved $1.6B of our US Treasury $ into a rare minerals company, through investment bank, Cantor Fitzgerald, who earned massive fees from the gov’t investment
Lutnick ran Cantor Fitzgerald for 34 years
Now his son, Brandon, runs the company
Bottom line – moving US biz to company where family directly benefits
🏦 The Federal Reserve board decided to hold their interest rates steady this week, with a 3.5-3.75 range.
3 members voted to raise interest rates because of increasing inflation.
There is pressure from T to NOT raise rates, no matter what
The 30 year Treasury bond market disagreed with the Fed vote to hold
and rates rose to 5.21%, highest since 2007.
The stock market responded with volatility
Having an independent Fed is crucial to economic stability and trust
🤦♀️ Trump cutting Medicare drug subsidy for 2027 that will affect costs for seniors
Subsidy lowered the average senior’s premium by 27%
On top of planned cuts to Medicaid, passed in the BBB law
🇨🇦 Canadians spent $2.3B less on visits to the US in 2025
Travel to the US declined 25%
Affects tourism and overall spending across the nation and in border
states where even short trips over the border help small business
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