FINANCE
Four Open Slots Give Biden an Opportunity to Reshape Powerful Federal Reserve Board
(Headline USA) With socialist chomping at the bit to nationalize the banking industry, President Joe Biden stands poised to install radical members on the nebulous Federal Reserve's Board of Governors, which has recently been embroiled in scandal.
Randal Quarles announced Monday that he will resign from the Fed at the...
Average US Price of Gas Jumps by 5 Cents over Past Two Weeks
(Headline USA) The average U.S. price of regular-grade gasoline jumped by 5 cents over the past two weeks, to $3.49 per gallon.
The price at the pump is $1.30 higher than a year ago.
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the rise comes as the cost of...
US Trade Deficit Hits Record of $80.9B in September
(Headline USA) The U.S. trade deficit hit an all-time high of $80.9 billion in September as American exports fell sharply while imports, even with supply chain problems at American ports, continue to climb.
The September deficit topped the previous record of $73.2 billion set in June, the Commerce Department reported...
GLEASON: Fed Admits Failure on Price Stability, Doesn’t Care
(Mike Gleason, Money Metals Exchange) Precious metals markets reacted this week to news of the Federal Reserve’s tapering plans.
The Fed didn’t deliver any real surprises, though. It left interest rates unchanged as expected and confirmed that it would gradually cut back on monthly asset purchases.
This gesture toward tightening does...
White House Claims Vax Mandate Won’t Disrupt Supply Chain
The White House dubiously insisted on Thursday that President Joe Biden’s sweeping employer vaccine mandate would not exacerbate supply-chain issues before the holidays.
"If you're asking if we think the rules impact supply chains, the answer is no, we don't think that it will," deputy press secretary Karine Jean-Pierre...
Abbott Offers Solution for Ships Stuck in California Ports
Texas's Republican Gov. Greg Abbott offered a Texan solution via Twitter to California's ongoing shipping crisis, which has created nationwide supply-chain shortages.
In the video accompanying the tweet, Abbott suggested that Texas ports replace the regulation-laden California as America's primary place of importing foreign consumer product.
According to Abbott, California has...
Hyperbolic Twitter CEO Predicts Hyperinflation
(Mike Gleason, Money Metals Exchange) As trading closes out for October ahead of Halloween, the specter of inflation is haunting markets.
While some investors still cling to the hope that it will be transitory, a growing number are now worried that pricing pressures and even shortages will intensify heading into...
Ben & Jerry’s Loses $111M in Pension Funds over Israel Boycott
Ben & Jerry’s lost $111 million in pension funds for its parent company, Unilever, because of its boycott of Israel.
The New York State Common Retirement Fund announced on Thursday that it would pull tens of millions of dollars in investments out of Unilever because Ben & Jerry insists on...
Iowa Passes Bill Guaranteeing Unemployment for Workers Fired Over Vax Mandate
Iowa passed a bill on Thursday that would guarantee workers who are fired over the Biden administration's COVID-19 vaccine mandates are eligible to receive unemployment benefits.
The bill makes sure employees who are denied medical and religious exemptions from vaccine mandates will be protected under state law and eligible for...
Bank Leaders Bash Biden’s IRS Snooping Plan
(The Center Square) House Republicans held a meeting Tuesday to invite banking leaders to share their feedback on President Joe Biden’s proposed IRS monitoring program, which has been met with widespread disapproval and skepticism.
For months, Biden has looked to beef up IRS auditing to help fund several trillion dollars...
Woke Treasury Dept. Names First Counselor for Racial Equity
(Headline USA) The Treasury Department has hired a former JPMorgan Chase executive to head a new government program aimed at combatting racial inequality issues in banking and other financial-services industries.
Treasury Secretary Janet Yellen said Monday that Janis Bowdler will be the department's first counselor for racial equity, part of...
CARTER REDUX: Fed Warns that Biden’s ‘Normal’ Economy May Be in Recession
After Democrats promised a “return to normalcy” with a Biden presidency, the Atlanta Federal Reserve is warning Americans that at least as to the economy, not so fast.
The Atlanta Fed's Q3 GDP forecast/nowcast started out at 6.3% back in early August. Here in mid-October, we're close to ZERO. In...
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