Fed Hikes Interest Rates for Third Time in Four Months

The Federal Reserve has raised target interest rates by 75 basis points for the third time this year following a Wednesday meeting of the Federal Open Market Committee.

The new target range for the federal funds rate is anywhere between 3% to 3.35% up from the current 2.37%, making it the most aggressive hike since the early 1980s. The Federal Reserve is expected to continue this trend into March of 2023 as an attempt to curb ongoing increases in inflation, CNBC reported.

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China Tried to Plant Spies Inside the Federal Reserve and Kidnap Economist, Congress Finds

China has carried out a sustained, decade-long economic espionage operation to infiltrate the U.S. Federal Reserve, according to a report released Tuesday by the Republican staff of the Senate Homeland Security and Governmental Affairs Committee.

Chinese operatives have employed both bribery and coercion to garner influence with employees of the Federal Reserve system in attempts to get them to provide sensitive information about the U.S. economy to the Chinese Communist Party (CCP), the report shows. At least 13 individuals across eight of the Fed’s 12 locations were identified as persons of interest in the report for having ties with Chinese government institutions and talent recruitment programs.

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Federal Reserve Chair Powell Says During Senate Hearing That a Recession Is Possible

Federal Reserve Chair Jerome Powell said the U.S. could enter into a recession when questioned Wednesday during a Senate Banking Committee hearing.

Confronted about 40-year-high inflation and the Fed raising interest rates in response, Powell said he couldn’t know for sure but said a recession, defined as a significant decline in economic activity over time, is possible.

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Jerome Powell Confirmed for Second Term as Federal Reserve Chair

The Senate voted 80-19 on Thursday to confirm Jerome Powell to a second term as Federal Reserve chair, even as inflation has hit record highs under his watch.

The 19 “Nay” votes came from 13 Republicans and 5 Democrats and included a range of Senators from Sen. Ted Cruz (R-Texas) to Sen. Bernie Sanders (I-Vt.).

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Commentary: Joe Biden vs. We the People

The Biden Administration last June unveiled its “National Strategy for Countering Domestic Terrorism.” Despite its anodyne-sounding name, the “national strategy” was anything but anodyne. The pamphlet represented the logical culmination of the Left’s cynical use of the January 6, 2021, U.S. Capitol riot as a means of ginning up large-scale, nationwide anti-Republican/anti-Trump voter sentiment.

The result, evinced again by Attorney General Merrick Garland’s disgraceful October 2021 memo directing the FBI to intrude on local school board meetings and crack down on anti-critical race theory parental revolts, has been a roiling cold war waged by the ruling class against us “deplorables” and our political “wrong-think.”

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Prices Are Still Rising Despite the Fed Saying Everything’s Under Control

The price of goods throughout the economy rose at its fastest level in decades despite assurances from Federal Reserve Bank Chairman Jerome Powell earlier this month that the central bank would get inflation under control.

The personal consumption expenditures price index (PCE) surged 6.4% in February on a year-over-year basis, the fastest pace since January 1982, the Commerce Department announced Thursday. The Dow Jones estimate projected core PCE, which strips out food and gas, would increase by 5.5%.

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Federal Reserve Chairman Powell Announcing Increase in Interest Rates This Month

Federal Reserve Chairman Jerome Powell will announce Wednesday that the central bank will begin raising interest rates this month – in an attempt to curb rising inflation expected to further increase as a result of Russia’s invasion of Ukraine.

In prepared testimony to a congressional committee, Powell says the Fed will “need to be nimble” in responding to unexpected changes resulting from the invasion and the resulting sanctions, according to the Associated Press.

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Biden to Renominate Jerome Powell for Second Term as Federal Reserve Chair

Jerome Powell

President Joe Biden will renominate Federal Reserve Chairman Jerome Powell to a second term leading the central bank.

The president, who was elected as a moderate, has faced pushback on Powell, who progressives feel is not tough enough on bank regulations or climate change policy.

Also in contention for the top job was Lael Brainard, who Biden will nominate to become the vice chair of the central bank’s board of governors.

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