As Insider previously reported, Biden could get around Congress through a process known as minting the coin, in which Biden could deposit a $1 trillion platinum coin in the Federal Reserve thanks to a loophole in the types of coins the Treasury can mint. But Yellen has dismissed that idea on numerous occasions and remains committed to Congress lifting the debt limit once again.
Category: Federal Reserve
Federal Reserve is Throwing Workers Out of Work to Save the Rich
Economists Gerald Epstein and Aaron Medlin’s data shows the paradox of ignoring employment and choosing to throw workers out of work has persisted over time at the Federal Reserve.
Federal Reserve is Throwing Workers Out of Work to Save the Rich via theAnalysis
Biden’s “Buy American” plan could kill US jobs
For a variety of reasons, the US is already one of the worst places in the world to build infrastructure. And now, president Joe Biden’s plan to “buy American” for future government infrastructure projects will likely make things even worse.
Biden’s “Buy American” plan could kill US jobs
Exaggerating China’s military spending, St. Louis Fed breaks all statistical rules with misleading graph
The Federal Reserve Bank of St. Louis published a jaw-droppingly misleading graph that portrays China as spending more on its military than the US. In reality, the Pentagon’s budget is roughly three times larger.
Exaggerating China’s military spending, St. Louis Fed breaks all statistical rules with misleading graph
Central banks risk setting off a financial earthquake with constant rate rises, warns ex-IMF economist
“Liz Truss got the blame but the underlying cause was Jay Powell’s rate rises in the US, which has pushed up rates for everybody,” he says.
Risk Of Recession In U.S. Increasing, Finds Fed Research
Just over half of states in the U.S. are struggling with slowing economic activity, which could be a signal of a looming recession, according to new research from the St. Louis Federal Reserve Bank.
Risk Of Recession In U.S. Increasing, Finds Fed Research
Chris Hedges: America’s Theater of the Absurd
The 15 rounds of voting it took to install Kevin McCarthy as Speaker of the House is part of the carnival of folly that passes for politics.
Chris Hedges: America’s Theater of the Absurd
Ex-Fed Chief Greenspan Says US Recession Is Likely
The Federal Reserve is poised to punish workers even as paychecks have been shrinking
The big jump in hourly pay in November isn’t inflationary. Working families’ real earnings are no higher than they were before the pandemic.
The Federal Reserve is poised to punish workers even as paychecks have been shrinking
Ms. Cat’s Chronicles 
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