The Federal Reserve’s Federal Open Market Committee (FOMC) announced today that it will maintain the current target policy interest rate (the federal funds rate) of 5.5 percent. The committee has now held the rate at this level since the end of July 2023.
According to the FOMC’s press release:
On Sunday, July 21, a letter appeared on brain-dead “President” Joe Biden’s Twitter account purporting to be a message that he would not be running for re-election but would continue in office until his term expires next January. Shortly thereafter, another post appeared that said he endorsed his DEI hire Kamala Harris as his successor. It is more than a little strange that Biden made no appearance on television to announce these momentous news items. It would not be surprising to find out that he is as yet unaware of them.
An often-repeated saying among Arabs, widely believed to be the panacea to our political ills, goes like this: “The right person in the right position” by which we mean that if we insert the most qualified person for a specific job, many of the problems affected would be solved. This is a strong phrase since it seems to be irrefutable. After all, should we otherwise put the “wrong” person in any position? Conversely, should we not create the right positions for the right people?
Anyone following the 2024 presidential election has undoubtedly heard about the political establishment’s latest villain, Project 2025. This policy agenda — technically named the 2025 Presidential Transition Project — was produced by a group of conservative policy analysts, most of whom are associated with the Heritage Foundation.
