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Fed Chair Jerome Powell is under pressure to tamp down inflation. The Federal Reserve implemented the largest hike to its benchmark interest rate since 1994 on Wednesday as officials frantically seek to tamp down the decades-high inflation hitting household budgets.
The rate-making Federal Open Market Committee announced the hike of 0.75%, or 75 basis points, at the conclusion of their two-day meeting. The hike moved the benchmark short-term rate to a range of 1.5% to 1.75%.
“Job gains have been robust in recent months, and the unemployment rate has remained low,” the FOMC said in a statement. “Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.”
The 0.75% hike was in line with revised expectations after last week’s release of the Consumer Price Index for May . The federal data showed inflation accelerated to a higher-than-expected 8.6% last month, the sharpest rate since December 1981.
Wall Street had long anticipated another half-percentage-point hike – but the mood changed after a report surfaced that economic officials could implement an even larger increase due to alarming inflation data.
While a 0.75% became the consensus view, some, including hedge fund billionaire Bill Ackman, suggested the economy would be better served if the Fed took drastic action by implementing a 1% hike. Investors are skeptical that the Fed will be able to engineer a soft landing for the economy. Motorists have encountered record-high gas prices across the country over the last month as the national average surpassed an unprecedented $5 per gallon. Other necessities such as groceries and housing have also surged to their highest level in years.
Interest rate hikes make it more expensive for consumers and businesses to borrow money. The Fed is aiming to cool the economy and bring down inflation without tipping the country into […]
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