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.
President Joe Biden on Monday told Republican senators to “get out of the way” and let Democrats suspend the nation’s debt limit on their own, hoping to keep the U.S. government from coming dangerously close to a credit default as Senate Republican Leader Mitch McConnell refuses to lend his party’s help.
“It’s going to cost nothing,” President Biden said of the Democrats’ massive $3.5 trillion spending binge, which House Speaker Nancy Pelosi is scrambling to pass this week.
Following revelations that Federal Reserve officials made trades in financial assets while the Fed was taking extraordinary efforts to “stimulate” the economy, Federal Reserve Chairman Jerome Powell ordered a review of the Fed’s ethics rules.
