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Federal Reserve Chair Jerome Powell is slated to say during a Tuesday congressional hearing that “high inflation exacts a toll,” especially on those less equipped to cover increased food, shelter and transportation expenses.
Powell’s prepared statement has been released ahead of an upcoming Senate Committee on Banking, Housing, and Urban Affairs hearing on Powell’s nomination to serve another term as the chairman of the Board of Governors of the Federal Reserve System.
President Joe Biden tapped Powell to serve a second term, but Powell was initially nominated by then-President Donald Trump in 2017 and then confirmed by the Senate in 2018. “The economy has rapidly gained strength despite the ongoing pandemic, giving rise to persistent supply and demand imbalances and bottlenecks, and thus to elevated inflation,” Powell’s testimony reads. “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing, and transportation. We are strongly committed to achieving our statutory goals of maximum employment and price stability. We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched.”
Americans have been hit hard by rising prices over the last year.
A U.S. Bureau of Labor Statistics news release issued last month about the consumer price index noted that, “The all items index rose 6.8 percent for the 12 months ending November, the largest 12-month increase since the period ending June 1982.”
The government is slated to release December consumer price index data on Wednesday.
Powell’s prepared remarks also indicate that he will describe climate change as one of the “evolving threats” that he and his colleagues have sought to address over the prior four years.
“Over the past four years, my colleagues and I have continued the work of our predecessors to ensure […]
Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker