The Federal Reserve announced on Wednesday that it will not yet cut its benchmark federal funds rate in what is predicted to be the last in a streak of pauses as inflation and debt continues to cripple Americans.
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The Federal Reserve is expected to hold the bank’s key interest rate steady this week. Traders currently expect three rate cuts this year beginning in September.
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Vice President Kamala Harris cast the tie-breaking vote in the Senate for the first COVID-19 stimulus package in 2021 which led to inflation, in what critics call a sign of what’s to come in a possible Harris administration.
Harris, who is the President of the Senate, has cast the most tie-breaking votes in the Senate of any vice president, a total of 33 thus far. Her second tie-breaker was for the stimulus package at the beginning of the Biden administration, which has significantly impacted the economy, as inflation has skyrocketed.
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Evictions are soaring, and Americans can’t pay the rent, potentially throwing hundreds of thousands of families out of their homes at a time when homeless shelters are jammed to the rafters with 10 million illegal immigrants.
It’s a useful reminder that the problem with our ruling elite isn’t just President Joe Biden’s dementia. They’ve made a very big bed we’re all going to be lying in.
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Whether the economy is currently bubbling along or facing a slowdown, a slow-motion disaster is about to create a real crisis for the government, our future politics, and the shrinking middle class. Half of households have no retirement savings.
This is just one of many shifts in the economy that reflect the declining fortunes of the middle class. Wages have remained mostly flat for most workers—particularly those without a college degree—since the early 1970s. Recent high rates of inflation further cut into the ability of the self-identified middle class to make ends meet. But the biggest change has been the abolition of employer-provided pensions and their replacement with rickety and self-managed 401k savings plans.
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The Center Square Voters’ Voice Poll, conducted prior to the weekend assassination attempt on former President Donald Trump, found that likely voters said inflation/price increases (45%), illegal immigration (36%) and the economy/jobs (28%) were the issues that matter most to them heading into the November election.
The poll was conducted in conjunction with Noble Predictive Insights from July 8-11 and surveyed nearly 2,300 likely voters, including 1,006 Republicans, 1,117 Democrats, and 172 true (non-leaning) independents. It has a margin of error of 2.1%. The Center Square Voters’ Voice Poll is one of only six national tracking polls in the United States.
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Joe Biden’s escalating dementia and the long media-political conspiracy to hide his senility from the public are the least of the Democrats’ current problems.
Biden’s track record as president may be more concerning than his cognitive decline. He has literally destroyed the U.S. border, deliberately allowing the entry of more than 10 million illegal aliens. His callous handlers’ agenda was to import abjectly poor constituencies in need of vast government services without regard for the current struggles of a battered American middle class and poor.
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Small businesses cite inflation as their number one concern, according to new survey data.
The National Federation of Independent Businesses released the survey results Tuesday, which show that 21% of small business owners cite inflation as “the single most important problem in operating their business,” more than any other issue.
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Inflation ticked down slightly year-over-year in June as rising prices continue to weigh on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.
The consumer price index (CPI), a broad measure of the price of everyday goods, increased 3.0 percent on an annual basis in June and decreased 0.1 percent month-over-month, compared to 3.3 percent in May, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 3.3 percent year-over-year in June, compared to 3.4 percent in May.
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The U.S. added 206,000 nonfarm payroll jobs in June as the unemployment rate ticked up to 4.1%, according to Bureau of Labor Statistics (BLS) data released Friday.
Economists anticipated that 190,000 jobs would be added in June, far fewer than the initially reported 272,000 gain seen in May, and the unemployment rate would remain steady at 4%, according to U.S. News and World Report. Strong topline job gains in recent months have led some top economic officials, like Federal Reserve Chair Jerome Powell, to push back against claims that the economy is stalling, despite slow economic growth and high inflation.
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