The Federal Reserve's Federal Open Market Committee (FOMC) raised the target federal funds rate 75 basis points on Wednesday, marking the fourth 75-basis-point hike in a row since June. The federal funds rate is now the highest it's been since December of 2007 when...
On Oct. 3, 2022, the U.S. national debt eclipsed $31 trillion for the first time in history. When you factor in unfunded liabilities in Medicare and Social Security, the debt skyrockets to well over $100 trillion. As the Anti-Federalist writer Brutus warned: “I can...
The average square footage in new single-family houses has been declining since 2015. House sizes tend to fall just during recessionary periods. It happened from 2008 to 2009, from 2001 to 2002, and from 1990 to 1991. But even with strong economic-growth numbers well...
Former Federal Reserve Chairman Ben Bernanke is a 2022 recipient of the Nobel Prize in economics for his writings on how government should respond to bank failures. Honoring Bernanke for his advice on what government should do when banks fail is like giving a fire...
The Federal Reserve has a legal dual mandate to minimize unemployment and price inflation. The current “dual” between the two mandates is to reduce price inflation by increasing interest rates to increase unemployment and kill businesses to choke off aggregate demand....
Last week Congress passed a continuing resolution and then adjourned until after the election. When Congress reconvenes, it will almost certainly pass a multi-billion dollars aid package for those impacted by Hurricane Ian. This spending will likely be labeled...
According to the head of the Air Force, US troops report their top concern is inflation, not Russia or China. The concern from the troops led the Pentagon to reverse a decision to cut special pay incentives for more complex jobs.
What would the political left (and for that matter, the right) do if they found that one of the biggest factors in income inequality was not top income tax levels, but inflation? It might lead to a revolution and a grand coalition among people of ideologies across the...
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