Federal Reserve members claim the economy keeps growing at a moderate rate thanks to low inflation and unemployment. But what Fed members don’t tell the public is most of the GDP growth comes from the Central Bank’s balance sheet expansion. The Central Bank’s balance sheet is out of whack, according to some economists.
Those economists point to the crash of the repo market a couple of months ago. That market was short of cash so the Central Bank had to inject boatloads of cash into that market to keep the interest banks use to borrow from each other between 1.5 and 1.75 percent.
Fed Chairman Jerome Powell told the press the Feds will watch what develops after Trump’s move to turn Iran into public enemy number one. The price of oil and the unrest from the Soleimani attack will have an impact on the global, as well as the U.S. economy, but Powell acted like the Feds want inflation to be the measuring stick that will force an interest rate hike.
Germany and France think Trump’s move to turn Iran into the Middle East monster Trump claims it is, was a stupid move. Putin told the press the drone attack was a dick move, and the Chinese think the attack was another example of the Trumpster using force to get what he wants. What he wants, according to the Democrats, is to take attention away from his impeachment.
Mitch McConnell told Chuck Schumer he doesn’t care if Nancy Pelosi sends the articles of impeachment to the Senate. Mitch said he’s ready to vindicate the president without a trial. But Mitch knows the public wants to hear from witnesses since Trump continues to withhold documents that prove he planned to make President Zelensky his conspiracy bitch. The Democrats did get their hands on a redacted email Associate Director of the OMB Mike Duffey sent to the Pentagon. The email proves Trump put a hold on military aid until the whistleblower came forward and spoiled his plan to screw Joe Biden and his son Hunter. Trump still wants to prove Biden is a criminal. Rudy Giuliani recently came back from Ukraine with more conspiracy-driven Russian-backed dirt that implicates Joe Biden.
Mr. Trump did a little damage control when he told a group of evangelical Hispanics in Miami he would put prayer back in the schools. He got Billy Graham’s daughter to back his claim he’s done more for the evangelical community than any president. He also told the crowd he will overturn Roe vs. Wade because God is on his side.