The last recession this country faced ended in 2010. Almost a decade later, economists argue that the country is overdue for another recession. Fortunately, the fed’s stress test has some good news for banks and borrowers alike. On Thursday, the Federal Reserve said that the 34 largest U.S. banks are all fortified enough to withstand a severe recession while continuing to lend. Does that mean consumers have nothing to worry about?

Read The Capitalist’s Take Here

Read More at Reuters Here

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TRUMP STEPS BACK; SAYS HE DOESN’T HAVE TAPES OF CONVERSATIONS WITH COMEY

President Donald Trump said he doesn’t have recordings of his conversations with then-FBI Director James Comey, capping weeks of speculation — started by the president himself — about whether such tapes exist.

“With all of the recently reported electronic surveillance, intercepts, unmasking and illegal leaking of information, I have no idea whether there are ‘tapes’ or recordings of my conversations with James Comey,” Trump said Thursday in a pair of statements on Twitter, “but I did not make, and do not have, any such recordings.”

Read More at Bloomberg Here

Read More at NY Times Here

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UBER CEO TRAVIS KALANICK FORCED TO RESIGN AS CEO

Travis Kalanick, the cofounder and CEO of Uber, has stepped down as the ride-hailing company’s top executive.

“I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors’ request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement obtained by The New York Times late on Tuesday night in California.

Read More at Business Insider Here

Read More at Fortune Here

Read More at CNN Here

Closing Bell

– Thursday, June 22nd

Markets Finish Flat While Healthcare Jumps on Senate Bill

Big Insider Trades

– Alphabet, Inc. (GOOG) CEO Sundar Pichai Sells $3.8m

– Revlon, Inc. (REV) Director Ron Perelman Buys Another $3m