XPost: alt.politics.trump, or.politics, sac.politics   
   XPost: talk.politics.guns   
   From: ed.dunbar@gmail.com   
      
   On 27 Jun 2024, J Carlson  posted some   
   news:v5ldko$34tm5$15@dont-email.me:   
      
   > schools to teach the Bible, including the Ten Commandments,   
      
   Leftists prefer children to be taught anal sex by grown men wearing   
   dresses, pretending to be women.  How fucked up is that?   
      
   Federal Reserve maintains interest rates at current levels in face of   
   stubbornly high inflation   
      
   Economy experts are predicting trouble for President Biden as the nation   
   draws closer to the November general election, leaving little time for his   
   administration to fix the stubbornly high inflation plaguing Americans.   
      
   Inflation currently sits at 3.3% year over year, according to Department   
   of Labor statistics. Although down from a near-record high of 9.1% in June   
   2022, it's still higher than at any point in the last decade prior to   
   Biden taking office.   
      
   The Federal Reserve on Wednesday announced it would maintain the federal   
   funds rate range at 5.25% to 5.5%, where rates have held steady since last   
   July, an expected decision considering inflation rose less than predicted   
   for the 12 months ending in May and the core Consumer Price Index rose a   
   better than expected 3.4%.   
      
   TRUMP RALLY DRAWS SWING STATE VOTERS ANGRY OVER ‘SHAM’ CONVICTION:   
   ‘BIGGEST SCAM EVER’   
      
   Fed Chair Jerome Powell said the report builds confidence that inflation   
   is moving toward the 2% target, but he also said more evidence is needed   
   before the central bank begins easing policy.   
      
   Economist Peter Morici said the report was "certainly good news" for   
   Biden, but noted that "prices are still up, and it's only one report." He   
   also pointed to factors that influenced the report as not being pocketbook   
   issues for most Americans.   
      
   "[The report] was driven largely by energy prices falling. In the services   
   sector, inflation is still very robust. … Housing and the cost of shelter   
   are rising 5% per year," he said, adding that energy prices are subject to   
   fluctuation and could look very different in a month.   
      
   "The underlying sources of inflation that trouble the Fed are still   
   present. The Fed will not be able to cut interest rates a lot this year,   
   if at all. Even if it does, it will come too late to give much help to Joe   
   Biden."   
      
   BIDEN CAMP JABS AT TRUMP'S ‘FAILED’ BUSINESS RECORD AS FORMER PRESIDENT   
   LOOKS TO SWAY NATION'S TOP CEOs   
      
   Joseph LaVorgna, an economist who served as chief of former President   
   Trump's economic counsel, told Fox he didn't think inflation was going to   
   come down, but he also said, prior to the report, that the Fed "doesn't   
   want a quick reaction."   
      
   "If I was advising the president, I'd want to do things to get inflation   
   as low as possible," he said. "The administration, I would argue, has   
   pursued policies that have made the inflation situation unfortunately   
   worse."   
      
   "Never in the history of the economy have we ever run budget deficits   
   above 5% of GDP with unemployment under 4%. That is a recipe for high   
   inflation, which is what we have," he said. "I'm concerned the only way   
   we're going to get inflation down, at least to where the guidelines are   
   set where people aren't feeling the pain of higher prices, unfortunately,   
   is a recession."   
      
   Dr. Arthur Laffer, an economist who served in both the Reagan and Trump   
   administrations, said he couldn't predict how the economy and inflation   
   would affect the overall results of the upcoming election, but he argued   
   the Biden administration had broken the major "kingdoms" of economics,   
   namely by going in the wrong direction on taxes, government spending,   
   monetary policy, regulation and trade.   
      
   BIDEN TAKES HEAT FROM SWING STATE DEMOCRAT OVER HIGH GAS PRICES PLAGUING   
   CONSTITUENTS: ‘DISAPPOINTING’   
      
   "When I look at the ‘five Kingdoms,’ taxation, he moves in the wrong   
   direction. Government spending? He moved in the wrong direction. Sound   
   money? He moved in the wrong direction. Regulation is way moved in the   
   wrong direction, especially in energy, but in other things, too. On trade?   
   He moved in the wrong direction," Laffer said.   
      
   "I can't imagine an administration more at odds with what should be done,   
   and the consequences are very, very clear," he added. "The employment   
   population is not quite back up to where it was prior to the pandemic.   
   Price levels are way up. Interest rates — I could just go on and on.   
   That's the way I would look at him objectively, as an economist. [Biden]   
   just doesn't know economics and nor does his administration."   
      
   When it comes to the election, however, Laffer said you'd "have to get out   
   your Ouija board."   
      
   FOX Business' Nora Colomer contributed to this report.   
      
   https://www.foxnews.com/politics/experts-predict-inflation-election-   
   trouble-biden   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)