Traders keep bets on September Fed rate cut as US inflation cools
May 30 (Reuters) - Traders of futures that settle to the Federal Reserve's policy rate continued to bet on Friday that the U.S. central bank will cut its target for short-term borrowing costs in September, after inflation by the Fed's targeted measure cooled to 2.1% in April.
The Personal Consumption Expenditure price index rose 2.3% in March, and the Fed targets 2% inflation. Traders also kept bets on a second Fed rate cut in December.
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Scottish Sun
6 hours ago
- Scottish Sun
Inside Operation Midnight Hammer: How Trump carried out unprecedented Iran attack using decoys in 37-hour covert mission
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) AMERICA'S colossal bomb raid on Iran's key nuclear sites was a masterclass in military might and strategy "months in the making", officials said. Covert tactics and the world's biggest conventional bombs came together in a "spectacular success", according to Trump, which caught the Iranians completely off-guard. Sign up for Scottish Sun newsletter Sign up 8 14 B-2 bombers were joined by more than 100 escort and support aircradr Credit: Reuters 8 Defense Secretary Pete Hegseth said the operation had been months in the planning Credit: AP 8 Satellite pictures show Iran's Fordow nuclear facility after it was blitzed Credit: AFP 8 Iran has sworn "everlasting consequences" are coming, but Trump warned the US would not be afraid of striking again. While the world now waits to see how Iran and its Axis of Evil will respond, the US has shared details of its daring Operation Midnight Hammer. General Dan Caine, Chairman of the Joint Chiefs of Staff said: 'This was a complex and high-risk mission carried out with exceptional skill and discipline by our Joint Force." Defense Secretary Pete Hegseth said: "Our B-2s went in and out and back without the world knowing at all." The mission was simple: to inflict serious damage on Iran's nuclear programme so that it is unable to produce nuclear weapons. Plans were worked for months, and the key groundwork was laid by Trump on Thursday when he announced a two-week delay to his decision about striking Iran. It's now clear that was a ploy to lull the regime into a false sense of security. The full mobilisation began on Friday night when a unit of B-2 bombers took off from the US at midnight. Some of the planes flew west towards the Pacific, leading analysts to suggest they might be heading to the UK's Diego Garcia base - but that was a decoy. Only "an extremely small number of planners and key leaders" knew the truth about the ruse, General Caine said. Trump's shock Iran strikes take us to bring of global conflict and will strengthen Axis of Evil alliance, experts warn The actual fleet comprised of seven B-2 spirit bombers, which quietly set off east over the Atlantic. Each was manned by a crew of two, but the pilots were instructed to stick to minimal communication to avoid detection. It was an 18-hour non-stop journey to reach the target area, so the bombers had to refuel multiple times in the air by linking up with escort and support aircraft. Mid-air synchronisation is difficult enough, but crews had to maintain minimal comms whilst lining up. At half past midnight Iranian time, a US submarine launched more than two dozen Tomahawk land attack cruise missiles at the Isfahan nuclear site in east Iran. This coincided with the bomber squad entering Iranian airspace - undetected. 8 Trump played a feint by suggesting he would mull the strikes for two weeks Credit: Splash 8 Iran's Supreme Leader Ayatollah Ali Khamenei has refused to surrender and now says diplomacy is off the cards Credit: AP Decoy and scout planes swooped out ahead of the main unit to scan for and distract any awaiting Iranian defence jets - but there were none. The protection group stood ready to launch preemptive fire on any surface-to-air threats, such as air defence systems, but not a single shot was fired at the operatives. Go-time was 2:10am - the midst of the Iranian night. Over a period of just 25 minutes, the bombers released their powerful payload. Officials revealed that about 75 precision-guided weapons were unleashed in total. Amongst these were 14 of the famed "bunker-buster" bombs dropped on the mountain-fortress Fordow plant. Israel had not even attempted to destroy this facility, buried beneath 300ft of rock and steel, because it knew only US's superbombs could do the job. The B-2s were programmed to drop one bomb, followed by another shortly afterwards onto the exact same point of impact. 8 Residential buildings in Tel Avid were damaged by Iranian missiles the morning after the US strikes Credit: Getty 8 A graphic displayed by US Defense Secretary Pete Hegseth demonstrating the operation Credit: Getty It was the first time that the 30,000-pound GBU, 57 Massive Ordnance Penetrators (MOPs) had been deployed in a live combat situation. Caine said: 'Our forces remain on high alert and are fully postured to respond to any Iranian retaliation or proxy attacks, which would be an incredibly poor choice. 'We will defend ourselves. The safety of our service members and civilians remains our highest priority. 'This mission demonstrates the unmatched reach, coordination and capability of the United States military. 'In just a matter of weeks, this went from strategic planning to global execution. 'This operation underscores the unmatched capabilities and global reach of the United States military."
Reuters
6 hours ago
- Reuters
Bitcoin falls 4% to $99,237
June 22 (Reuters) - Bitcoin, the world's largest cryptocurrency by market value, was down by 4.13% at $99,237 at 10:52 a.m. ET (1452 GMT) on Sunday. Ether, the second-largest cryptocurrency, was down by around 8.52% at $2,199.
Wales Online
7 hours ago
- Wales Online
Iran update as it declares it has struck back against US bombing action
Iran update as it declares it has struck back against US bombing action The nation has been bombed by American B-2 stealth bombers that US President Donald Trump said had 'obliterated' their targets Iranian President Masoud Pezeshkian in January 2025 (Photo) (Image: Getty/ 2025 Contributor#8523328 ) Iran has announced it has retaliated against US military strikes on three of its nuclear facilities. The eyes of the world had been waiting to see how Iran might respond after the bombings by B-2 stealth bombers. Nuclear sites in Fordo, Natanz and Isfahan were targeted by the Trump administration overnight. The US President said the sites had been completely 'obliterated' - although subsequent US statements have not gone this far. There has been intense speculation Iran might target US military sites in the Middle East or take other measures such as shutting off the vital shipping route the Strait of Hormuz. Reports from Reuters and elswhere this afternoon suggest action in the strait remains under discussion. But as USA warned Iran of the risks of retaliating, Iran announced that it had actually already responded. The Financial Times reports that Iran's President Masoud Pezeshkian said 'powerful strikes' on Israel on Sunday morning were actually retaliation for the US activity. 'The attacks were in fact a response to the US aggressive policies, because the Zionist regime basically lacks the capacity and courage to stage attacks on the Islamic republic by itself,' Pezeshkian said at a cabinet meeting. 'The US attacks on our nuclear installations clearly showed that it was the main driver behind the Zionist regime's hostile actions against the Islamic republic." An Iranian strike hit a residential neighbourhood in Tel Aviv on Sunday morning. At least 16 people were reportedly injured. Article continues below Israel announced on Sunday that it had closed its airspace to both inbound and outbound flights in the wake of the US attacks. What has US military said about the US strikes on Fordo, Natanz and Isfahan? In new media briefings within the last hour, America said it 'does not seek war' with Iran. Secretary of Defence Pete Hegseth made the claim in the aftermath of the US attack. The mission, called Operation Midnight Hammer, involved decoys and deception, and met with no Iranian resistance, Mr Hegseth and US Air Force General Dan Caine, chairman of the Joint Chiefs of Staff, said at a Pentagon news conference on Sunday. Article continues below Mr Hegseth said it is important to note the US strikes did not target Iranian troops or the Iranian people. The words might be seen as a veiled effort to indicate to Tehran they do not want retaliation on American targets in the region. 'This mission was not and has not been about regime change,' Mr Hegseth added. Mr Caine said the aim of the operation – destroying nuclear sites in Fordo, Natanz and Isfahan – had been achieved. US President Donald Trump earlier claimed the facilities had been 'completely and fully obliterated'. 'Final battle damage will take some time, but initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction,' Mr Caine said.
