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Several factors weighed heavily on the decision to raise rates. The average nationwide gas price now is $4.36 compared to $3.18 a year ago, per AAA, and the average diesel price of $6.31 is a record. Brent crude oil has crested over $100 per barrel compared to about $68 a year ago. Inflation was 3.4% in August, compared to 2.9% last year. And US 10-, 20- and 30-year Treasuries have reached their highest rates in decades.
Federal Reserve Chair Kevin Warsh assumed the top role in May, and the central bank held rates steady for all of Warsh’s first three meetings. The decision to stand pat at the start of Warsh’s tenure came despite increasing calls for a hike as inflation remains solidly above the Fed’s 2% target. Those calls became too loud to ignore, prompting the first rate hike since August 2023.
“The decision we made today was the right decision to deliver on the remit that Congress gave us to ensure stable prices… Some months ago I said we will deliver stable prices, today’s action is consistent with that,” Warsh said at the Fed press conference.
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As you probably know by now, our time here at CalvinAyre.com is coming to an end. It’s been a pleasure to be a part of this site for the past two years, and there’s a very bittersweet feeling of seeing it come to a close, but looking to the next opportunity.
I’d like to thank our leader, Calvin Ayre, for giving me an opportunity to write about the gambling industry, but also for creating a platform that spoke to a different side of the industry, and wasn’t afraid to reveal uncomfortable truths when necessary. I’m excited to see what comes next in his campaign to wake the world up to the power of Bitcoin SV.
Bill Beatty, our Editor-in-Chief, was my guiding light. I learned to think of journalism, the gambling industry, and even life, in whole new ways thanks to him, and I’ll always count on him as one of my mentors.
About La Gran Corona Del Rey
Stevenson Starks shared those concerns that the NCAA has towards online sports betting in the U.S.:
“The two [concerns] are the integrity of athletic competition, and how that could potentially be impacted by a proliferation of legalized sports wagering. And then the second is really the health and well-being of student athletes.“
Stevenson added that the NCAA is determined to keep local student organisations informed of key regulations.
