Breitbart
Brace for Hikes
On Monday’s edition of the Breitbart Business Digest, we flagged that signs of a housing recovery could be a green light for the Federal Reserve to resume raising interest rates. An even clearer sign that the Fed could hike again emerged in the minutes from the Fed’s June meeting, which were released today. Even though rate hikes have paused for now, most Fed officials believe more tightening is coming.
Though the voting members of the Federal Open Market Committee agreed to keep the range steady between 5 percent and 5.25 percent, the minutes revealed that several nonvoting officials were prepared to raise rates in June, and nearly everyone is prepared to raise them more this year.
The buzzwords of the day were “resilient” and “resilience,” which appear throughout minutes. This comforting upbeat verbiage might serve to make Americans feel a little bit warmer and fuzzier as we see rates tick up yet again.
Bidenomics, a Tough Sell
It appears as though Joe Biden would like to leverage our collective economic “resilience” against his political rivals in the 2024 presidential election. This suits Biden, who will have no problem dishonestly claiming that he saved the economy from rival Donald Trump, even though the economic collapse at the end of Trump’s presidency was entirely due to the coronavirus and the lockdowns. The Democrats are also fond of trying to turn weaknesses into perceived strengths (Hillary Clinton and Russia is the most obvious recent example)…
