Disney made it official this morning, announcing it would buy assets of 21st Century Fox for $52.4 billion. As part of the deal CEO Bob Iger will stay on at the top spot until 2021, and Fox will spin off its News & Sports networks.
Plus the FCC is getting ready to vote on whether to repeal net neutrality rules. But the agency's chief technology officer, who was appointed to the position by the current chair, says a rollback is not in the best interests of the public. The regulations, put into place by the Obama administration in 2015, prevent internet providers from slowing down content speeds or favoring certain companies.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
