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USA women’s 3×3 basketball team loses third straight game

PARIS – So far, no good for the 3×3 women’s basketball team. Not good at all. 

The Americans dropped their third straight game to open pool play at the Paris Olympics, this one a 17-15 loss to Australia on Thursday. The team has two more games in pool play before the knockout stage begins. And if they don’t figure it out soon, they won’t last long once that begins. 

Rhyne Howard finally showed some of her shooting capabilities by drilling four two-pointers on  six attempts from deep to keep the U.S. in the game. 

The U.S. battled through the first few minutes to tie it at 12 with 2:30 remaining. But Australia scored three straight points before Howard’s fourth two brought the Americans back within one. Dearica Hamby (four points, six rebounds) had a key block with 1:32 remaining, but the U.S. couldn’t contain the Aussies enough with their weave action to create spacing. 

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2024 Olympic medals: Who is leading the medal count? Follow along as we track the medals for every sport.

At 16-14 in the final seconds, Howard found Hamby for a key bucket and the U.S. intentionally fouled. But time ran out before the U.S. could put up a final shot.

Hamby said the refs were not good and called too many offensive fouls.  

Trailing 11-10, Hailey van Lith missed an open layup that would have tied the game. The U.S. did eventually tie it at 12. 

Now it’s back to the drawing board – again – for the USA. Frustrations are mounting. 

‘Everybody’s got the same refs,’ Cierra Burdick said. ‘I don’t worry about things that are out of my control. Some people get good calls, some people get bad calls, that’s basketball.’ 

After the opening loss to Germany two days ago, van Lith said the team’s intensity needed to improve. 

“I think the effort was a little bit better,” Burdick said. “But we got to find another gear to tap into. Because we’re not getting it done.” 

The improvement would come during group play, the Americans have been saying. But for Burdick, it hasn’t come quickly enough. 

“I think we’re getting a little bit better, but not at the pace that I’d like,” she said. “But we gotta find our way.” 

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USA rowers earn first gold medal in men’s four since 1960

VAIRES-SUR-MARNE, France − Michael Grady bent down, bowed his head with a folded American flag under his right arm, closed his eyes, and did his best to contain the emotion.

It had been 64 years since Team USA had won the Olympic men’s four rowing event, after all, so forgive him if the moment got the better of him. Grady, Nick Mead, Justin Best and Liam Corrigan rowed to gold Thursday at the Paris Olympics in the men’s four finals with an incredible clocking of 5:49.03, holding off New Zealand (silver) by less than a second (5:49.88), and Great Britain (bronze, 5:52.42). And Grady just needed a minute to take it all in.

‘I was trying to get back on my feet. There have been a lot of emotions that’ve gone through my head already. A few tears almost came out,’ Grady said. ‘I can say I held them back − not toxic masculinity or anything − but it’s really an emotional moment to be able to represent the USA on the highest stage and walk away in the most successful position. Not a lot of people can say that.’

With Mead in the bow position and Corrigan at the stroke, the group broke out to an early lead and never relinquished it, holding the lead at every 500-meter check of the 2,000-meter race. It was a measure of redemption, as the Tokyo Games in 2021 had marked the first Olympics rowing history that Team USA failed to win any medals. The gold is the first for the USA in the men’s fours since the Rome Games in 1960. That wasn’t lost on Grady, who mentioned the 64-year men’s four drought in his post-race remarks.

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2024 Olympic medals: Who is leading the medal count? Follow along as we track the medals for every sport.

Last September, Great Britain beat Team USA’s foursome to win the gold medal at the 2023 Rowing World Championships, but with a medal at stake Thursday, the British favorites got off to a slow start and were rowing in last place after the first 500 meters. Great Britain recovered to reach third place with 500 meters remaining, but could make up no more ground than that against an American crew that was sharp from the start. It was New Zealand that provided the greater threat on Thursday, and Corrigan chose the right moment to stave it off.

‘We have a call. Liam said the word ‘red.’ And when you make that call red, you see red,’ said Best. ‘You (row) with some of the bigger strokes that you take in the race. It’s not necessarily the smartest race plan to do, but it’s something psychology-wise … we all trusted each other to make that move together.’

Rowers navigated relatively calm waters at Vaires-sur-Marne Nautical Stadium, roughly a 20-mile drive east of Paris, which was built for the Paris Games and is also hosting the canoe-kayak events. Team USA also competed in medal rows Thursday in the men’s double sculls and women’s four competitions, both finishing off the podium.

Rowing at the Paris Games consists of seven events each for men and women. Through preliminary heats, Team USA qualified for Thursday’s Finals A competition, which determines medal winners, in three events: men’s double sculls, women’s four, and men’s four. Remaining medal competition in rowing continues Friday and Saturday.

On Friday, Team USA’s Jess Thoennes and Azja Czajkowski will aim for a medal in the women’s pair event, while Molly Reckford and Michelle Sechser are in the medal race in the lightweight women’s double sculls race.

Reach Tuscaloosa News columnist Chase Goodbread at cgoodbread@gannett.com. Follow on X @chasegoodbread.

The USA TODAY app gets you to the heart of the news — fast.Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.

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USA women-Belgium live updates: Highlights, more from Paris Olympics

The U.S. national women’s basketball team continues their road to another Olympic gold medal today against Belgium in the 2024 Paris Olympic Games group stage.

Two-time WNBA MVP A’ja Wilson led the way with 24 points, 13 rebounds, and four assists in the dominant win. Reigning MVP Breanna Stewart had 22 points, eight rebounds, and three assists as well.

Belgium entered the Olympics as Team USA’s biggest threat in Group C as FIBA ranks Belgium No. 6 in the world. But they lost the first matchup of group play to Germany 83-69. Emma Meesseman had a game-high 25 points in the loss and Washington Mystics guard Julie Vanloo had 18 points and six assists.

With a win, Team USA gets another step closer to clinching a spot in the knockout stage and another gold medal.

2024 Olympic medals: Who is leading the medal count? Follow along as we track the medals for every sport.

The USA TODAY app brings you every Team USA medal — right when it happens.Download for full Olympics coverage, crosswords, audio storytelling, the eNewspaper and much more.

USA vs. Belgium: Time, TV, streaming and how to watch

Date: Thursday, Aug. 1
Time: 3 p.m. ET | noon PT
Location: Lille, France
TV: USA Network
Streaming: Peacock, Fubo (free trial) 

What time is the Team USA women’s game?

The game will broadcast starting at 2:45 p.m. ET on USA Network.

How can I watch Team USA women play Belgium?

The game will be broadcasted on USA and stream across Peacock and fubo TV.

Paris 2024 Olympics women’s 5×5 basketball groups

Group A:

China
Puerto Rico
Serbia
Spain

Group B:

Australia
Canada
France
Nigeria

Group C:

Belgium
Germany
Japan
United States

Paris Olympics 2024 women’s basketball standings

Group A

Group B

Group C

Team USA women’s basketball roster

Napheesa Collier, Minnesota Lynx
Kahleah Cooper, Phoenix Mercury
Chelsea Gray, Las Vegas Aces
Brittney Griner, Phoenix Mercury
Sabrina Ionescu, New York Liberty
Jewell Loyd, Seattle Storm
Kelsey Plum, Las Vegas Aces
Breanna Stewart, New York Liberty
Diana Taurasi, Phoenix Mercury
Alyssa Thomas, Connecticut Sun
A’ja Wilson, Las Vegas Aces
Jackie Young, Las Vegas Aces

We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY Network newsrooms operate independently, and this doesn’t influence our coverage.

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Sports

Georgia dismisses receiver after second domestic violence arrest

Two days after Rara Thomas posted bond following his second domestic violence arrest since joining the program, Georgia football coach Kirby Smart Thursday addressed the wide receiver’s standing publicly as the Bulldogs began preseason practices.

Smart met with Thomas on Tuesday after his release from jail.

“He can no longer be part of the football team,’ Smart said. ‘He understands that. We wish him the best moving forward.”

Smart had not commented since Thomas’ early Friday morning arrest for a charge of felony cruelty to children and two misdemeanor charges of family violence/battery.

Thomas was suspended indefinitely since the day of the arrest.

Thomas had 23 catches for 383 yards and a touchdown in his first Georgia season last year, but he was expected to be a key contributor this season after battling a foot injury in 2023.

The Mississippi State transfer’s arrest was the latest incident in another offseason full of off-field trouble for the program.

The week before Thomas’ arrest, Smart addressed another round of high-speed driving incidents for players. Linebacker Smael Mondon and offensive lineman Bo Hughley were arrested in separate reckless driving incidents. Mondon was also cited for racing with cornerback Demello Jones for racing by Athens police.

Thomas was also cited three times this offseason for speeding and another time for running a red light.

Georgia players have been arrested or cited at least 29 times for reckless driving, racing or speeding since the Jan. 15 fatal crash of offensive lineman Devin Willock and recruiting staffer Chandler LeCroy. Police said LeCroy and defensive tackle Jalen Carter, now with the Philadelphia Eagles, were racing at more than 100 miles per hour.

Smart last month dismissed safety Daniel David-Sisavanh, who was charged with reckless driving after leading Atlanta police on a pursuit after making multiple lane changes at high speed.

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Olympic swimmers are wearing big parkas before racing. Here’s why

NANTERRE, France — Two-time Olympic swimmer Regan Smith walked out on the pool deck before her 200-meter butterfly semifinal Wednesday night looking like she was ready to brave the elements of a wintery day in her home state, Minnesota.

Hooded puffy white Team USA parka. Thick bright pink mittens. Long pants and fluffy lined ankle boots. 

Anyone who’s spent time at an indoor pool is familiar with the literal climate: It’s often quite warm, can be stuffy and sometimes humid. And that’s generally what it’s felt like at Paris La Défense Arena during the Paris Olympics.

So why do Smith and many other Olympic swimmers look like they’re about to conquer the arctic tundra before they race? It’s a combination of warmth and adding some personal pizzazz. 

“The pink gloves are my own special little flare — and the boots,” Smith said after qualifying second for the 200 fly final. “My favorite color is pink, and in swimming, you can’t really express yourself that much. You can’t do anything fun with your hair, you can’t really wear makeup. So I like incorporating fun little cute things.”

2024 Olympic medals: Who is leading the medal count? Follow along as we track the medals for every sport.

When swimmers get to their respective lanes, the layers disappear into a bin for them to collect afterward. Underneath all those clothes, they’re race-ready with their skin-tight (and very thin) tech suits, along with caps and goggles. 

Smith’s pre-race clothes help keep her muscles warm and ready to compete, as well. But she acknowledged, for her, it’s more about the aesthetic. 

For two-time Olympian Kate Douglass, wearing the big parka is definitely to help prevent her muscles from getting chilled between warming up and competing. 

“The second I get in a pool, I’m freezing, so that’s why I wear a parka,” Douglass said after qualifying first for Thursday’s 200-meter breaststroke final. “Immediately when I get out of the pool, I put the parka on because I just get really cold.”

The puffy Team USA parkas, the slightly lighter but still hooded black jackets or a simple T-shirt are all options for swimmers. And all official gear with swimming brand TYR as the national team sponsor. And some of the apparel can later be reworn as actual winter weather clothes.

While some swimmers like to be thoroughly bundled up, others opt for a jacket or t-shirt and shorts — or no pants at all. 

Sprinter Jack Alexy donned the lighter puffy black jacket and long pants before the men’s 100-meter freestyle final, while fellow 100 finalist Chris Guiliano likes to keep it a little lighter, gauging how to balance not being too hot or too cold before competing.

“I don’t really like to sweat before my races, you know?” Guiliano said during his first Olympics. “So I’ll throw on shorts and maybe a sweatshirt.”

But sometimes, it’s simply all about the style. 

“I just think it looks pretty sick,” first-time Olympian Alex Shackell said about her parka.

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Politics

Biden calls Russia prisoner swap deal that freed WSJ’s Gershkovich, Whelan a ‘feat of diplomacy’

President Biden has called the prisoner swap deal with Russia Thursday that secured the release of The Wall Street Journal’s Evan Gershkovich, Paul Whelan and others a ‘feat of diplomacy.’

‘Moments ago, the families and I were able to speak to them on the telephone from the Oval Office. They’re out of Russia. Earlier today, they were flown to Turkey, and soon they’ll be wheels up on their way home to see their families,’ Biden said during an address from the White House. ‘This is an incredible relief for all the family members gathered here. It’s a relief to the friends and colleagues all across the country who’ve been praying for this day for a long time.’

‘The deal that made this possible was a feat of diplomacy and friendship. Multiple countries help get this done,’ Biden added. ‘They joined a difficult, complex negotiation at my request. And I personally thank them all again.’

‘All told, Russia has released 16 prisoners. Eight Russians who were being held in the West will be sent home as well. The 16 prisoners from Russia that Russia has released include four Americans, five Germans, seven Russian citizens who were political prisoners in their own country,’ Biden continued.

The president said earlier in a statement released by the White House that ‘three American citizens and one American green-card holder who were unjustly imprisoned in Russia are finally coming home: Paul Whelan, Evan Gershkovich, Alsu Kurmasheva, and Vladimir Kara-Murza.’

Biden said ‘Russian authorities arrested them, convicted them in show trials and sentenced them to long prison terms with absolutely no legitimate reason whatsoever. None.’

‘Some of these women and men have been unjustly held for years. All have endured unimaginable suffering and uncertainty. Today, their agony is over,’ Biden also said.

‘I am grateful to our Allies who stood with us throughout tough, complex negotiations to achieve this outcome — including Germany, Poland, Slovenia, Norway, and Turkey. This is a powerful example of why it’s vital to have friends in this world whom you can trust and depend upon. Our alliances make Americans safer,’ Biden continued.  

‘And let me be clear: I will not stop working until every American wrongfully detained or held hostage around the world is reunited with their family,’ he added. 

Gershkovich, 32, was arrested on March 29, 2023, while reporting on a trip to the Ural Mountains city of Yekaterinburg and accused of espionage. The Biden administration declared him ‘wrongfully detained’ and The Wall Street Journal and U.S. government both emphatically denied the charges, calling them absurd on their face. 

Whelan had languished in Russian custody for years. A well-placed source told Fox News that Turkish intelligence officials played a key role in mediating the prisoner swap.  

The last time Russia exchanged prisoners with the U.S. was December 2022, when it freed basketball player Brittney Griner in exchange for arms dealer Viktor Bout. Griner was sentenced to nine years in prison in Russia for smuggling and possessing cannabis. Like in Gershkovich’s case, Griner’s harsh sentence was viewed as Russia effectively taking an American hostage to obtain leverage over the U.S. 

Biden said Thursday during his speech that ‘It says a lot about the United States that we work relentlessly to free Americans who are unjustly held around the world. 

‘It also says a lot about us that this deal includes the release of Russian political prisoners. They stood up for democracy and human rights. Their own leaders shoot them in prison. The United States helped secure their release as well. That’s who we are in the United States,’ he added. ‘We stand for freedom and liberty, for justice, not only for our own people, but for others as well. And that’s why all Americans can take pride in what we’ve achieved today.’

Fox News’ David Rutz, Brian Flood and Timothy H.J. Nerozzi contributed to this report.

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Politics

Who is the real Kamala Harris? America has so many questions and journalists aren’t asking them

Who is Kamala Harris and what does she stand for? 

We thought we got an idea of her worldview and policy positions when she ran for president in the 2020 race. 

To tick down the list, she is on video saying that she: 

*Wants to ban fracking. 

*Wants to eliminate the fossil fuel industry. 

*Wants to end all offshore drilling. 

*Wants to abolish ICE. 

*Does not support border wall construction. 

*Does not support the Remain in Mexico policy. 

But does support sanctuary cities. 

*Supports reparations for slavery. 

*Supports violent criminals voting from jail. 

Supports expanding the Supreme Court. 

*Supports redirecting resources away from police. 

*Supports ending cash bail laws. 

*Supports ending private health insurance: 

And opposes Voter ID. 

You get the point. 

’

And now, apparently, Harris has reversed herself on many of these issues. But we haven’t actually heard her explain these flip-flops, of course. Instead, these reversals are being leaked to the press from her campaign via ‘unnamed sources.’

Which begs another question: It’s been more than 10 days since Harris secured enough delegates for the Democratic Party’s nomination, so why exactly hasn’t she taken one question from an actual journalist yet about any of her past positions on policy? She did ‘RuPaul’s Drag Race All Stars’ as her first interview as the presumptive Democratic Party nominee, and her handlers continue to give her the Biden treatment… where basically the strategy is to plead the Fifth all the way to Nov. 5th. 

This strategy is unsustainable, of course. Team Kamala believes they can simply ride the current sugar high for the next 95 days or so without doing one single press conference or real interview. But here’s the thing: She still trails Trump on average nationally and in almost every swing state. The Harris team is allowing Trump to define her, which is quite easy to do, given her own comments in the past. 

A microcosm of Trump’s strength versus Harris’ weakness was on display once again in Chicago during the National Association of Black Journalists’ convention on Wednesday afternoon. 

The Republican nominee was treated with outright hostility by Rachel Scott of ABC News straight out of the gate, but Trump hammered home his points around illegal immigration impacting minorities through social services being drastically cut regarding sanitation, education and police to help pay to support those in the country illegally. Trump also underscored the cruel tax that inflation is to all communities, regardless of color. 

Meanwhile, Harris decided to blow off the event and instead will do it by Zoom instead. 

Why? Because her people know that if she ever had to take questions from an objective, prepared moderator, someone for example, like Fox News’ Harris Faulkner, it would be utterly disastrous to her campaign. 

She simply does not have the ability to think or speak extemporaneously. And her policy positions are almost indefensible. 

Ultimately, this race will come down to any debates Trump and Harris have. But here’s a prediction: Trump is arguing, rightly so, that he agreed to debate Biden, not Harris, on ABC in September. But now Harris is saying the debate agreement still stands. 

No, it does not. Trump and Harris are supposed to debate now, making the prior agreement with Biden null and void. 

Harris says she’ll still show up to the ABC debate regardless if Trump is there. I predict the former president will hold his ground, and the vice president will declare he chickened out while also declaring that there will be no more debates because Trump is ‘afraid’ of her, with the media cheering her on every step of the way. 

And that’s the goal: Avoid Trump, and any substantive questions, at all costs. And try to eke out a win without ever being held to account. 

So, who is Kamala Harris? 

We may never truly know. At least not until after Election Day. 

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Politics

‘Dangerous message’: Top Republican raises concerns over trading Americans for ‘actual Russian criminals’

A top Republican warned on Thursday that the Biden administration’s choice to trade Russian criminals for detained Americans – Wall Street Journal reporter Evan Gershkovich and Marine veteran Paul Whelan – could be sending a ‘dangerous message’ to Russian President Vladimir Putin. 

House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, joined others in celebrating the releases, saying he was ‘thrilled’ to hear the detained Americans were coming home.

‘But I remain concerned that continuing to trade innocent Americans for actual Russian criminals held in the U.S. and elsewhere sends a dangerous message to Putin that only encourages further hostage taking by his regime,’ he added. 

He further stressed, ‘We should also not forget those Americans who may still be held in Russia, like Marc Fogel and Ksenia Karelina, as well as those held in other countries, including Mark Swidan, Kai Li, and David Lin, who are held in China, and Ryan Corbett, who is held in Afghanistan. We must get all of them home to their families too.’

A senior administration official told Fox News on Thursday that the U.S. and Russia agreed to a prisoner transfer and the prisoners are now expected to soon be in U.S. custody. 

Sen. John Cornyn, R-Texas, expressed his own relief at the planned release of Gershkovich and Whelan ‘after years of wrongful detention in Russia.’

‘The baseless charges, sham trials, and unjust imprisonment of these men is a stark reminder of Russia’s blatant disregard for human rights and its continued oppression of innocent Americans,’ he said. 

In a joint statement, the Pennsylvania congressional delegation, including Democratic Sens. Bob Casey and John Fetterman, as well as Republican Reps. Mike Kelly and Guy Reschenthaler and Democratic Rep. Chris Deluzio, pushed the administration to include Fogel. 

‘As news of a potential prisoner exchange is being reported, we urge that any swap include Pennsylvania’s Marc Fogel, along with Paul Whelan and Evan Gershkovich,’ they said. 

‘Marc is a Pennsylvania teacher with severe health issues who has been unjustly imprisoned in a Russian prison for three years, and as the congressional members who represent Marc and his family, we have been pushing to bring Marc home as quickly as possible. As negotiations are ongoing with the Russian Federation, we respectfully request that any potential prisoner swap include Marc Fogel.’

Former Rep. Mike Rogers, q Republican Senate candidate in Michigan, where Whelan is from, responded to the news on X, writing, ‘I’m so grateful to hear that Paul Whelan is finally coming home to Michigan! This great news is long, long overdue, but will hopefully bring peace to the Whelan family who’s been through unimaginable pain these past few years thanks to Russia’s egregious actions.’

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First round of US-made F-16s land in Ukraine as war with Russia rages on

The long-awaited arrival of U.S.-made F-16s have allegedly landed in Ukraine, officials said Wednesday, a move that will help Kyiv revive its air capabilities in its war against Russia. 

Ukrainian President Volodymyr Zelenskyy has repeatedly emphasized his country’s need for superior air support and aircraft since Russia invaded more than two years ago. 

Despite international willingness to provide warplanes to Kyiv, the U.S. previously refused its F-16 technology over concerns it could escalate the war beyond Ukraine’s borders – a similar position it took with other wartime capabilities like long-range ATACMS missile systems and Abrams M1 tanks before Washington again capitulated. 

Lithuanian Foreign Minister Gabrielius Landsbergis, an ardent supporter of Kyiv, took to X to confirm the delivery and said, ‘F-16s in Ukraine. Another impossible thing turned out to be totally possible.’

Despite multiple reports citing U.S. intelligence officials, neither the Pentagon nor Ukrainian defense officials have officially confirmed that the sorely needed warplanes have been delivered.

Kyiv’s push to keep the F-16 arrival a secret is not a surprising decision given the security challenges the planes will prove for the war-torn state. 

Ukrainian pilots have been training on F-16 systems in the U.S. and in Europe as they look to roll out a new defense with the modern warplanes.

However, Ukraine will also need to secure the planes while they remain on the ground as they are expected to be a top target for Russian forces looking to destroy the F-16s. 

When asked about the arrival of the F-16s by reporters Wednesday, White House National Security Communications Advisor John Kirby said, ‘I’m certainly not going to talk about weapons capabilities.’ 

‘We have said, and said at the NATO summit, that the process of providing F-16s to Ukraine continues to move forward,’ he added. ‘We said that they will be operational by the end of the summer. We have no reason to doubt that.’

Zelenskyy has long emphasized the important role F-16s would serve in bolstering Ukraine’s air defenses as Russia continues to pummel the country with drone and missile strikes. 

‘Last night alone, almost 90 ‘Shahed’ drones were shot down,’ Zelenskyy said in a Wednesday address to the nation.  ‘This is a serious result. I thank everyone for their precision: our mobile fire groups, fighter aircraft crews, anti-aircraft gunners, electronic warfare specialists — everyone.’

‘You have done an excellent job in the skies across many of our regions,’ he added. ‘It is also crucial to increase Ukraine’s skies defense capabilities.’

The Associated Press contributed to this report.

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Stocks

Unbelievable! The Fed Creating Its Own Nightmare And We’re The Puppets

This Fed has got to go. It’s time. You’ve overstayed your welcome, Fed Chief Powell. I literally was just shaking my head after reading the changes to the Fed’s policy statement. The changes were in the first two paragraphs, so let me jump right in and show you what changed in the wording and, essentially, what the Fed acknowledged:

Wording in red with a line through it was wording from the prior policy statement that was not in the current policy statement. Wording in red and underlined is new wording in the current policy statement. I think the most important change is the last line in the second paragraph. At the prior meeting, the statement said the FOMC “remains highly attentive to inflation risks”. That clearly showed that the Fed was much more concerned about inflation than the economy. The economy wasn’t even mentioned. But the latest statement now reads that the FOMC “is attentive to risks to both sides of its dual mandate.” The dual mandate, of course, is to maximize employment (economy) and stabilize prices (inflation). So the Fed is now acknowledging that the economy is weakening, which is EXACTLY what I’ve been saying for the past several weeks. We dedicated an event last Saturday to this exact topic to warn our members of the deteriorating economy and what that could mean for the S&P 500.

It’s not pretty.

In order to avoid recession, the Fed needs to act and cut rates. But no, no, no, not this Fed. They’re still looking for a “sustainable” path to its 2% target on inflation, as if this chart doesn’t CLEARLY show a sustainable path:

I’ve been in the camp of a soft landing. Now I’ve decided I don’t like camping. I also don’t like this Fed, if you couldn’t tell. Not only did the Fed leave rates unchanged and fail to give us all a sense of security that rates will drop in September, but it was a UNANIMOUS decision. They’re all going along for this ride with the Fed Chief of Sustainability Powell.

Powell is in the business of creating pain for investors globally. His infamous speech from the stage in Jackson Hole in 2022 completely derailed a massive 700 point-rally in the S&P 500 over the prior 9-10 weeks. This isn’t new.

Do you know how many trillions and trillions of dollars trade every day in the U.S. bond and stock markets? There are BRILLIANT economists in the world’s largest financial firms and all of this money has been SCREAMING at the Fed to cut rates. But they have their own agenda and are the LEAST transparent Fed that I’ve ever seen. Would you like to see some immediate fallout from the Fed paying ZERO attention to the stock and bond markets?

How about this 5-day chart on the IWM (small cap Russell 2000 ETF):

Wednesday 3pm: The moment that Wall Street realized that all its hopes and dreams of a rate cut were crushed and that our economy is as good as gone. Soft landing? Very, very doubtful. The good news is that Christmas specials should be great this year as companies try to get rid themselves of massive inventories.

Listen, it’s not too late to get the recording from last week’s “Why The S&P 500 May Tumble”. It may turn out to be the most important video you watch this year. A FREE 30-day trial membership will do the trick. I laid out the path for the S&P 500 and key growth areas. The only thing I’d change, 5 days later, is the title. A more appropriate title would be “Why The S&P 500 Will Tumble”.

Also, I just recorded a YouTube video last night, “Fed Makes Wrong Move AGAIN!”. Be sure to “Like” the video and “Subscribe” to our YouTube Channel. I appreciate your support!

Sleep well Powell.

Happy trading!

Tom

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