The Fed Holds the Fed Funds Rate Steady—Because it Doesn’t Know What Else To Do
The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday left the target policy interest rate (the federal funds rate) unchanged at 5.5 percent. This “pause” in the target rate suggests the FOMC believes it has raised the target rate high enough to rein in price inflation which has run well above the Fed’s arbitrary two-percent inflation target since mid-2021.
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DC Seeks to Destroy Those Who Say the Obvious: America’s Fiscal Crisis is Here
America’s debt clock has ticked past $33 trillion, reaching a billion dollars of spending every hour. Meanwhile, the monetary policy conditions that have emboldened Washington’s spending spree are over.
The Responsibility of Price Stability
After not raising rates to fight inflation last week, Federal Reserve Chair Jerome Powell delivered his usual speech and Q & A. He opened with three very peculiar sentences regarding price stability, leading to a few unsettling conclusions.
He starts with:
Price stability is the responsibility of the Federal Reserve.
Does Technical Knowledge Always Lead to Economic Growth?
Understanding Hegel from a Straussian Viewpoint
Strikes Always Have Economic Consequences and the Latest UAW Strike Is No Exception
August Price Inflation Accelerated, and the Fed Fears More Is in Store
Stop Trying to “Contain” China in Southeast Asia
It was a laughable moment when President Joe Biden said at a press conference during his visit to Hanoi that the United States wasn’t seeking to contain China. Despite efforts by the Biden administration to send its top officials to quell any suspicion that Washington, DC, was trying to contain China, Beijing has realized that the efforts were merely a cover-up.
