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
Tag: Jerome Powell
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
Media Prescribe More ‘Pain’ for Workers as Inflation’s Only Cure
Federal Reserve chair Jerome Powell is profit’s prophet and the corporate media are his cultish devotees, joining hands to sacrifice working people. In this cult, profit is sacrosanct.
Media Prescribe More ‘Pain’ for Workers as Inflation’s Only Cure
Ask Prof Wolff: Fed Reserve Blames Inflation on Workers
Video via Democracy At Work
Fed’s Powell Calls U.S. Economy “Robust” as Personal Savings Rate Collapses to Same Level as in Financial Crisis of 2008
By Pam Martens and Russ Martens: October 27, 2022
At Fed Chair Jerome Powell’s press conference on September 21, he made a remark that went unchallenged by the bevy of reporters in attendance. Powell said this:
Fed’s Powell Calls U.S. Economy “Robust” as Personal Savings Rate Collapses to Same Level as in Financial Crisis of 2008
Weak US jobs report not weak enough: Financial markets plunge
The U.S. Bureau of Labor Statistics (BLS) reported Friday morning that just 263,000 jobs were added in the month of September, down from 315,000 in August. The total of new jobs matched the previous low, in April of 2021, for monthly job creation over the past 20 months.
Weak US jobs report not weak enough: Financial markets plunge
Central Banks Eye Another Interest Rate Hike This Week
The US Federal Reserve and the Bank of England this week are set to hike interest rates steeply again in a bid to chase down scorching inflation, investors are betting.
Central Banks Eye Another Interest Rate Hike This Week
US Treasury recommends exploring creation of a digital dollar
The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar. Administration officials say it’d help reinforce the U.S. role as a leader in the world financial system.
US Treasury recommends exploring creation of a digital dollar
H/T: PFYT2
Related:
A digital dollar would allow Americans to directly open up an account at the Fed
And while some have suggested that the Fed could potentially launch a digital dollar on a public network like Ethereum, Luther suspects that it would instead choose to launch on its own dedicated blockchain.
“A public blockchain would limit the government’s ability to control access and monitor transactions. I am not convinced it will give up control and oversight, even if doing so would be in the best interest of society.”
Fed’s Powell: a U.S. digital dollar could help maintain international primacy
The development of an official digital version of the U.S. dollar could help safeguard its global dominance as other countries issue their own, Fed Chair Jerome Powell said on Friday, weighing in with generally positive remarks on a hot-button topic at the central bank that has left policymakers divided.
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Ten countries have already launched central bank digital currencies and another 105 countries are exploring the option, according to the Atlantic Council, leading to fears the dollar could lose some of its dominance to China.
Surging cost of living in US drives class tensions to the breaking point
The latest inflation data published Tuesday shows that the working class confronts months of immense hardships as wages lose their value in the face of rising living costs. The ruling class’s attempt to make the working class pay for the crisis of capitalism is driving workers into struggle across the world, including in the United States, where teachers, nurses, and possibly railroad workers are launching powerful strikes.
Surging cost of living in US drives class tensions to the breaking point
Pledging “pain,” Federal Reserve declares war on the working class
In his speech Friday at the Federal Reserve’s annual summit in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell made one thing clear: America’s financial oligarchy is determined to make the working class bear the cost of the deepening economic crisis.
Pledging “pain,” Federal Reserve declares war on the working class
Ms. Cat’s Chronicles 
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