Jerome Powell had his last meeting at the head of the Federal Reserve of the United States on Wednesday, April 29. The nominee to succeed him, Kevin Warsh, is an economist and former monetary policy chief who served as a member of the Fed’s Board of Governors from 2006 to 2011.
A few months ago, it seemed the US Senate race in Maine was all set. Gov. Janet Mills, a Democrat, would be the heavy favorite in her race against Republican Susan Collins, finishing her fifth term in the Senate. But on April 30, Mills ended her campaign as it was clear that political newcomer Graham Platner would easily win the June 9 Democratic primary.
The national average price for a gallon of gasoline was $4.46 on May 4, up from $4.11 on April 27.
When broken out by age, Massie has huge leads among voters under age 46. GOP voters over 66 are against Massie. Older voters consistently favor more war and government spending.
There is something almost absurd about a government minting money at a loss. A coin—the most basic unit—becomes instead a confession, not just of inefficiency, but of a deeper fracture between what money is supposed to represent and what it has become.
Last week “Secretary of War” Pete Hegseth insulted Americans by claiming that a 50 percent increase in the US military budget – from an incomprehensible one trillion dollars to an impossible one and a half trillion – was a “fiscally responsible investment.”
“Thanks to President Trump’s $1.5 trillion defense budget, this War Department has moved from bureaucracy to business,” he said last Thursday.
In a way he was right, though. The huge increase is much more about “business” than what is needed to protect the United States from potential invasion.
