Wyoming valley at the crossroads of history and politics
Nvidia has reported second-quarter revenue of $96.2bn and has forecast about 70% revenue growth for fiscal 2028, far above analyst expectations. The company has won large cloud orders, including an expanded deal with Amazon Web Services, and has moved to finance and build AI data‑centre capacity while rivals design custom chips.
Alan Greenspan has died at age 100 from complications of Parkinson's disease, his wife Andrea Mitchell has said. Greenspan has led the Federal Reserve from 1987 to 2006, presiding over long US growth and market rallies while later facing criticism for policies linked to the 2007–09 financial crisis.
Warsh has moved to reduce forward guidance and may cut meetings, aiming to give the Fed more flexibility as markets react to his new approach while inflation remains above target.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.
The US Treasury has announced the government has doubled long-dated bond purchases, aiming to push yields lower as inflation fears persist. Analysts warn intervention could be inflationary and risk public trust, while gold prices rise as the dollar weakens. The debate intensifies over the government’s ability to finance debt and the long-term impact on liquidity.
Federal Reserve Chair Kevin Warsh is delivering a high-stakes keynote at Jackson Hole, with markets watching for signs on inflation, rate policy, and the Fed-Treasury dynamic as Treasury interventions challenge the central bank’s messaging.