Fed's Powell pledges to combat inflation
'forcefully,' but warns of economic pain ahead
Posted By: MDConservative, 8/26/2022 4:49:14 PM
Federal Reserve Chairman Jerome Powell on Friday delivered a stark message on the state of the U.S. economy at the annual central bank gathering in Wyoming: Inflation remains painfully high, and cooling it will require forceful action that could soon bring "pain" to households and businesses nationwide. In his hotly anticipated speech at the Kansas Federal Reserve's Jackson Hole symposium, Powell reiterated a pledge to "forcefully" fight inflation that is still running near the hottest pace in 40 years and wrestle it closer to the Fed's 2% goal.
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Federal Reserve Chairman Jerome Powell on Friday delivered a stark message on the state of the U.S. economy at the annual central bank gathering in Wyoming: Inflation remains painfully high, and cooling it will require forceful action that could soon bring "pain" to households and businesses nationwide.
In his hotly anticipated speech at the Kansas Federal Reserve's Jackson Hole symposium, Powell reiterated a pledge to "forcefully" fight inflation that is still running near the hottest pace in 40 years and wrestle it closer to the Fed's 2% goal.
Former President Donald Trump’s son-in-law Jared Kushner played a key role in laying the groundwork for Mike Pence to be selected as the 2016 GOP vice presidential nominee, but he admits now that it had a “painful” beginning.
In his new book released today, Breaking History: A White House Memoir, Kushner wrote that unlike in other campaigns, the candidate decided to lead the search for a running mate, and Trump initially settled on Pence, former House Speaker Newt Gingrich, and New Jersey Gov. Chris Christie. Kushner, who was the unofficial campaign manager, wrote that all three fit with Trump’s goal of ignoring the Washington “elite” and reaching out to blue-collar voters.
Younger Americans are still less willing to commit to one political party, newly released polling data shows.
Gallup released survey data Thursday showing that Millennials and Gen Z Americans are sticking with the “Independent” label. In fact, more of the surveyed Millennial and Gen Z Americans identify as Independent than as Republican and Democrat combined.
The poll found that 52% of both Gen Z and Millennials identify as Independent.
North Carolina’s Supreme Court has made one of the most insane judicial decisions in the nation’s history, and that’s absolutely not hyperbole. In what can only be described as a full-scale judicial coup, the Democrat-controlled body has ruled that the North Carolina General Assembly is illegitimate and can not enact amendments to the state’s constitution.
When the U.S. Supreme Court repealed in June a woman’s constitutional right to an abortion, Wisconsin’s 1849 law that bans the procedure except when a mother’s life is at risk became newly relevant.
Republicans in the Legislature blocked an attempt by Democratic Gov. Tony Evers to overturn the law. Yet there’s disagreement inside the GOP over how to move forward when they return to the state Capitol in January.
The state’s powerful Republican Assembly speaker, Robin Vos, supports reinforcing the exception for a mother’s life and adding protections for instances involving rape and incest.
The Republicans’ Senate campaign committee has slashed its television ad reservations in three critical battleground states for the fall, a likely sign of financial troubles headed into the peak of the 2022 midterm election season.
The National Republican Senatorial Committee has cut more than $5 million in Pennsylvania, including its reservations in the Philadelphia media market, according to two media-tracking sources.
Reservations in Wisconsin, in the Madison and Green Bay markets, have also been curtailed, by more than $2 million.
Could Hogan run for president as an independent? Speculation about a presidential run by Maryland Gov. Larry Hogan has been growing in recent years. Wednesday morning, Lt. Gov. Boyd Rutherford told WBAL radio that there could be a possibility that Hogan would run as an independent candidate...
Tensions rippling through the Wisconsin
Republican Party take hold in GOP stronghold
Waukesha County 11 replies
Republican Party take hold in GOP stronghold
Waukesha County 11 replies
Tensions among Wisconsin Republicans over the direction of the party are taking shape in an area of the state that will remain a key ingredient to victories for conservatives no matter what voters decide.
Former President Donald Trump is taking his war against Assembly Speaker Robin Vos to a rally in Waukesha County he's hosting for Republican candidate for governor Tim Michels just two days after Trump's estranged vice president Mike Pence held a separate event for Michels' top opponent Rebecca Kleefisch in Pewaukee.
State Treasurer Sarah Godlewski dropped out of the Democratic U.S. Senate primary Friday, clearing the field of major contenders for the party's presumptive nominee, Lt. Gov. Mandela Barnes.
Barnes will face Republican U.S. Sen. Ron Johnson in November. If elected, Barnes would be the state's first Black senator.
Godlewski was the third top-tier candidate to withdraw in the last five days, following the exits of Milwaukee Bucks executive Alex Lasry and Outagamie County Executive Tom Nelson. The primary is Aug. 9.
For months, Wisconsin Lieutenant Governor Mandela Barnes looked like a runaway candidate for the Democratic Senate nomination in the state, which would pit him against Sen. Ron Johnson (R) in November.
A progressive star who’d already won a statewide election, Barnes has racked up endorsements from Majority Whip Jim Clyburn (SC), Sen. Cory Booker (NJ), Sen. Elizabeth Warren (MA) and more since announcing his candidacy in July 2021. (SNIP) But in the last three months, (Alex) Lasry’s been on a spending blitz. Last quarter alone he pumped $6.5 million of his own money toward his campaign, bringing his total self-lending to $12.3 million...
As the House committee probing the Jan. 6 attack on the Capitol continues to reveal how it says then-President Donald Trump and his allies worked to overturn the 2020 election, a bipartisan group of senators has quietly reached agreement on a sweeping effort to overhaul the very law at the heart of the former president's effort -- the Electoral Count Act of 1887 -- and was set to unveil a bill Wednesday.
The ambiguous 19th century law attempts to prescribe both the process by which the Electoral College selects the president and vice president and how Congress then counts those votes.
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Joe Biden on Friday ‘dropped by’ a meeting with state and local officials on Women’s Equality Day to discuss ‘abortion access’ for women following the Supreme Court’s decision to overturn Roe v Wade.
Biden decided to take a few softball questions from sycophantic reporters.
Then he dropped this gem as he called on a reporter…
“I’m sorry, I took control. I shouldn’t do that. I’m not allowed to do that,” said Biden as his handlers kicked out the press.
It seems like just yesterday that politicians would try to sway voters to come to their point of view and cast a vote for them. Things have changed. In the past week, Charlie Crist told conservative voters he wants nothing to do with them because they're evil; Kathy Hochul told Republicans to leave her state; and, in the culmination of this abuse, Joe Biden effectively affixed the label "fascist" to Trump's 74,216,154 voters (all of whom are actual human beings). Is it any coincidence that, in the same week, activists twice swatted Marjorie Taylor Greene?
Attorney and former Constitutional Law Clerk for Justice Gorsuch, Mike Davis, lays out three reasons why the DOJ’s actions in raiding President Trump’s Mar-a-Lago were unprecedented, not necessary, and not lawful.
Davis shared on FOX News today:
Yeah, so this affidavit, heavily redacted affidavit, it further evidences that this home raid on President Trump was unprecedented, it was unnecessary, and it was unlawful.
Joe Biden was warned by the Treasury Secretary and his wife not to cancel student debt, but pressed ahead regardless on the urging of Kamala Harris, it has been claimed.
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Did Biden drop the ball again — or did he never expect to be allowed to run with it in the first place?
The agency doesn’t have income data for most of the 43 million Americans eligible for forgiveness, meaning around 35 million people — including Pell Grant recipients — will have to attest
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handout include college loans taken out
by moms and dads? 20 replies
After President Biden announced his student loan handout plan on Wednesday, August 24, 2022, many parents immediately wondered about the status of the college loans they took out in their own names on behalf of their children.
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Friday’s unsealing of the affidavit tied to the FBI’s raid on former President Donald Trump’s Florida estate has raised more questions than answers.
West Palm Beach US Magistrate Judge Bruce Reinhardt had ordered the Justice Department earlier in the week to prepare a redacted version of the document in which authorities laid out their reasons for the controversial Aug. 8 search-and-seizure operation at Mar-a-Lago.
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Journalist Bari Weiss asked former Attorney General Bill Barr if convicted child sex trafficker Jeffrey Epstein may not have taken his own life in an interview Thursday.
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Vice President Kamala Harris lost another top staffer this week, as the exodus of her staffers continue.
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A bizarre assertion made by scientists in South Korea suggests that if the global population starts eating burgers and other food made out of earthworms, then world hunger would be greatly reduced.
The New York Post reports that Dr. Hee Cho of Wonkwang University led a research project which concluded that mixing cooked mealworms, or beetle larvae, with sugar can produce a substance that resembles and allegedly tastes like meat.
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On Friday’s broadcast of HBO’s “Real Time,” host Bill Maher said President Joe Biden’s student loan program will make income inequality worse and the issue is higher education is sold “as a golden ticket to be in the upper middle class, but they’re not really getting any education.” He also argued that “education is to Democrats what tax cuts are to Republicans, they think it solves everything.”
Comments:
Currently, the interest on federal funds range from 2.25% to 2.50%, while mortgages run 5.55%. Neither of these are the answer to inflation. These rates are still "easy money" in a historical context. How high the Fed is willing to go, especially as the '22 elections come soon, is likely to be not much higher. To bring down inflation, a severe recession is almost unavoidable along the line. And no politician wants that to happen on his watch.