Former Federal Reserve Chairman Alan Greenspan passed away last week at the age of 100. Greenspan chaired the Fed from 1987 through 2006. Despite being a lifelong Republican, Greenspan refused to lower interest rates, though doing so may have helped George H.W. Bush’s...
According to the University of Michigan’s latest Index of Consumer Sentiment, a record number of Americans have negative views of the economy. This is yet more evidence that the American people are dissatisfied with their economic condition. Some commentators have...
After Kevin Warsh was confirmed as Federal Reserve chairman last week, he received a stark reminder of the challenges facing the central bank. The reminder came in the form of a worldwide surge in the interest rates paid by government bonds. The surge followed the...
According to data collected by the research firm Statista, 29 percent of Americans cannot afford to take a vacation this year. A vacation is not the only thing Americans are struggling to afford. The failure of wages to keep up with price inflation is why household...
President Trump has recently suggested that, unless Federal Reserve Chairman Jerome Powell cuts interest rates, the president might revert to his The Apprentice days and tell Powell, “you’re fired.” President Trump backtracked on firing Powell after the president’s...
President Trump recently issued an executive order instructing the US Mint to stop producing pennies. The reason for this is it costs nearly four cents to produce one penny. That’s right: the US government can’t even make pennies without losing money! President Trump...
Even though we are two weeks into 2025, I want to suggest some more New Year’s resolutions. The Federal Reserve should resolve to stop enabling excessive federal spending by purchasing Treasury bonds, thus monetizing the federal debt. The Federal Reserve’s...
Two days after Donald Trump became the first American since Grover Cleveland to win nonconsecutive presidential elections, the Federal Reserve announced a quarter percent cut in interest rates. Following this announcement, Fed Chairman Jerome Powell held a press...
This presidential campaign season may be one of those turning points in history for reasons good and bad. Anyone watching the one debate between the Republican and Democratic Party candidates would not have come away with the view that this was a great battle of...
Many investors, businesses, and consumers cheered the Federal Reserve’s first interest rate cut since March of 2020. The Fed’s 50 basis points interest rate reduction was larger than many Fed watchers anticipated and was followed by suggestions that there are more...
Former President and current Republican Presidential Nominee Donald Trump recently renewed his criticisms of the Federal Reserve. He suggested that, if he returns to the White House next year, he will push Congress to pass legislation giving the president at least a...
According to new reports from the Social Security and Medicare trustees, Social Security and a Medicare fund that pays for hospital expenses will both begin running deficits in 2035 and 2036. Disappointingly, but not surprisingly, Congress was too preoccupied spending...
According to the Federal Reserve, credit card delinquencies increased by 50 percent in 2023, while consumer debt grew to 17.5 trillion dollars. A recent survey by Clever Real Estate found that three in five Americans have credit card debt and that 23 percent of...
Select politicians, government officials, economic elites, and experts arriving at the annual World Economic Forum meeting in Davos, Switzerland were greeted with an open letter signed by more than 250 billionaires and millionaires. The signers request their...
A clip from the 1990 movie Home Alone where the lead character purchases groceries, household goods, and toys recently went viral because he paid a total of $19.83 whereas today the same purchase would cost over three times as much. Ironically, while this evidence of...
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