Elon Musk Wades Into Inflation Debate as Fed Tees Up Another Jumbo Rate Hike
Tech entrepreneur Elon Musk weighed in on inflation debate as Federal Reserve prepared to deliver large rate hike to cool soaring prices.
OPEC+ Pledges Major Oil Output Cuts From May to Year’s End
Saudi Arabia and OPEC+ will be cutting their output by about 1.15 million barrels per day (bpd), a move expected to cause an immediate rise in prices.
This $6 trillion problem threatens to push inflation even higher
Following 2008 financial crisis, Fed created trillions of dollars to keep banks afloat while Bernanke paid banks to park money at Fed and limit inflationary effects.
McCarthy Rejects White House Demand for ‘Clean’ Debt Ceiling Hike
Kevin McCarthy rejected Biden’s demand that Congress increase debt ceiling without attaching any conditions such as spending cuts that Republicans are demanding.
Biden Signs Debt Ceiling Bill, Ending Monthslong Political Battle
Biden signed the Fiscal Responsibility Act on June 3, 2023, suspending the debt ceiling for 19 months and bringing a monthslong political battle to a close.
Federal Reserve Leaves Interest Rates Unchanged, Signals 3 Cuts This Year
The Federal Reserve kept interest rates unchanged at the FOMC policy meeting but officials signaled that three rate cuts were still planned for this year.
Americans Have Lost $4,200 in Annual Income Under Biden Administration: Report
Americans have lost over $4,000 in annual income since President Joe Biden took office owing to soaring inflation and higher interest rates.
Elon Musk Expects US Recession Will Last a Long Time but Will Be ‘Relatively...
Elon Musk says he expects a recession in the United States to last around 18 months, although he anticipates it will be “relatively mild.”
US Economy Declines 1.4 Percent in the First Quarter
The U.S. economy contracted 1.4 percent in the first quarter, new Bureau of Economic Analysis (BEA) data show. The market had forecast growth of 1.1 percent.
This...
Yellen Warns ‘Constitutional Crisis’ Could Come Next Month
Janet Yellen will not rule out possibility of declaring debt ceiling unconstitutional if Congress can't resolve standoff, but “no good options” on the table.
Dave Brat: The Real Price of Money
Dave Brat talks with War Room: Pandemic's guest host, Jack Posobiec, about the disastrous Biden economy, and why it is so hard to predict economic trends.
Unease Over Banking Sector Turmoil Spurs Huge Demand for Precious Metals
Coin Heaven co-owner Gabe Wright saw precious metals demand rise to new heights during pandemic, but nothing as spectacular as Silicon Valley Bank’s collapse.
