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.
Emma Riley, the White House communications chief of staff, became the second in the Biden-Harris team to hand in their resignation this week when she announced that she is leaving her post for a job in the Labor Department.
President Joe Biden's $1.75 trillion spending bill is set to impact even Americans' religious freedom, a conservative group said recently. The spending bill raises questions as to how funding will funnel into things like access to abortion and how it will create friction between pro-choice and pro-life groups.