Central banks have not merely inflated the bejesus out of assets prices. They have also caused the very foundations of financial markets to metastasize, yielding an endless array of new products that have no real economic function except to facilitate new forms of pure wagering.
President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed.
What do the Federal Reserve and neoconservatives have in common? They both refuse to admit that their policies — the neocons’ promotion of perpetual war and the Fed's manipulation of the money supply — are complete failures, having produced the opposite of the promised results.
Saule Omarova, Joe Biden's selectee for the Office of the Comptroller of the Currency (OCC), called during a March virtual conference to eliminate all private bank accounts and deposits.
The United States is likely to see greater inflation risks from record-high housing prices as demand continues to outstrip the number of newly-built homes while bottlenecks in supply chains slow construction, Federal Reserve Governor Michelle Bowman said on Monday.
Save for the Wall Street Journal, few big media operations have reporters with the background or editors and media producers with journalistic principles to accurately inform you about legal matters. This week, looking at John Durham’s Danchenko indictment and the Kyle Rittenhouse case in Kenosha, Wisconsin, that point was made crystal clear.
