FederalReserve

Judy Shelton’s candidacy for a seat on the Fed was approved in a party-line vote in the Senate Banking committee on Tuesday. All 12 Democrats on the Senate Banking Committee opposed Shelton’s nomination, making the GOP Senate majority potentially putting the 2016 Trump campaign advisor’s retrograde views onto the Fed.  Because in a...

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  • July 22, 2020

Below is a collection of things that I’ve been saving up — including the problems of CV-19, MMT, neoliberalism, and other things relating pandemics to the economy. If there’s a point to this selection it is to remind ourselves what will happen in 2021 with Larry Summers now advising the Biden...

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  • April 26, 2020

As Donald Trump’s bragging about the economy reached a crescendo last fall, former Obama White House communications director Jen Psaki provided a helpful reality check for the American people. “A buffoon could have kept the recovery going,” Psaki explained, “and in fact one has so far.” That Trump had inherited...

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  • August 25, 2019

Trump has been demanding rate cuts from the Fed ever since he took office. Lately he’s been even more vehement, denouncing Fed chairman Jerome Powell for not dropping rates even more and comparing him to China’s Xi as the “enemy.” It’s no secret that Trump is pushing lower rates because...

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  • August 24, 2019

Did you know that the manufacturing sector of the U.S. economy was already in a recession?   Manufacturing fell at a 2.2% rate in the second quarter after a 1.9% drop in the first three months of the year. This is not the dreaded Media trying to rattle Americans.  It’s those...

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  • August 20, 2019

While there will be heated debate about if the economy will go into a recession in 2020, I think most economic analysts believe that the recent yield curve inversion on interest rates does signal a slowing economy.  And if the economy begins to slide next year, Trump has already started...

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  • August 16, 2019

This never should have been close. Stephen Moore is a well-known supply-side, trickle-down hack who has been consistently wrong about nearly everything for decades. Which is naturally why Trump loves him. (Actually, Trump’s affinity for Moore probably stems from the fact that Moore co-wrote a book, Trumponomics, with Trump’s name...

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  • April 30, 2019

Wait, there’s a limit to the absurdities Republican senators will accept when it comes to Donald Trump’s “presidency”? I’d assumed they’d confirm the entire cast and crew of Duck Dynasty to Cabinet positions if Trump asked them to. Politico: Sen. Joe Manchin (D-W.Va.) said in a C-SPAN “Newsmakers” interview with...

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  • April 11, 2019

In an interview today with Kai Ryssdal of Marketplace, former Federal Reserve Chair Janet Yellen did not mince words when it came to Donald Trump’s (lack of) qualifications to be president. Yellen, who was famously too short to be DJT’s pick for Fed chair, stated point-blank that Trump has a...

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  • February 26, 2019

As 2018 draws to a close, there is growing concern about what the next year will bring for the American economy. President Trump’s twin self-inflicted wounds of an ongoing trade war with China and a needless government shutdown helped send stock markets into a December panic. The expanding global economy,...

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  • December 30, 2018

Donald Trump is upset about his own decision to tap Jerome Powell as Fed chair, no doubt because he wants an unsustainable economic sugar high that doesn’t end until he’s out of office (i.e., because he doesn’t care about the country or anyone in it). Powell has been raising interest...

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  • November 28, 2018
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