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Inflation will likely persist into 2024, St. Louis Federal Reserve President James Bullard warned on Wednesday, suggesting interest rates could likely surge even higher as the Fed battles rising prices.
“I think we’ll probably have to stay there all during 2023 and into 2024,” Bullard told MarketWatch of high interest rates, estimating they could reach between 5 and 7 percent.
Bullard pointed to low unemployment numbers and indicated the jobs market’s strength would enable the Fed to tackle inflation head on through more rate hikes.
“The fact that the labor market is so strong gives us license to pursue our disinflationary strategy now and try to get the inflation under control now. So we don’t replay the 1970s, where the FOMC at that time took 15 years to get inflation under control,” he said.
Inflation stood at 7.7% as of October, down from a 9.1% high in June. The Federal Reserve rose interest rates by 0.75% earlier this month, for the fourth time this year. Current lending rates range from 3.75% to an even 4%.
Minutes from the Federal Open Market Committee implied the Fed may yet raise interest rates by another 75 basis points at its December meeting, The Hill reported .
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