Free Republic

Treasury Secretary Janet Yellen just admitted what the rest of Americans already knew: high prices are here to stay. Example? Food prices (CPI) are up over 20% under Inflation Joe while gasoline prices are up 38% under Clueless Joe. On the housing front, the Case-Shiller National Home Price Index is up 33.2% under Biden. And Freddie Mac’s 3-year mortgage rate is up 154% under Biden’s leadership (c’mon man! Obama is pulling the strings on Puppet Joe). Speaking during an interview with ABC News Live over the weekend, Treasury Secretary Janet Yellen admitted prices aren’t going down, contradicting arguments repeatedly made...

Georgia Gov. Brian Kemp (R) declared a state of emergency for the Peach State over inflation rates Tuesday. “From runaway federal spending to policies that hamstring domestic energy production, all Bidenomics has done is take more money out of the pockets of the middle class,” Kemp said in a press release. “While high prices continue to hit family budgets, hardworking Georgians deserve real relief, and that’s why I signed an executive order today to deliver it directly to them at the pump,” Kemp continued. “Working with partners in the General Assembly, we’ll continue to help Georgians weather the economic headwinds...

Former Assistant Treasury Secretary and Chief Economist of the America First Policy Institute Mike Faulkender warned on Monday that more banks may soon fail amid the collapse of First Republic and blamed industry leadership for failing to prepare for a period of rising interests rates. Speaking on the "Just the News, No Noise" television show, the former Treasury official warned "there are concerns about how many more banks that are potentially out there, because the notion that these three were the only ones that took on interest rate risk during the pandemic, it certainly is not the case." "There were...

Joe Biden expressed hopefulness about the economy following a dismal GDP report on Thursday, but Wall Street executives are preparing for the worst, according to Politico. The U.S. economy’s annual growth rate slowed more than expected to 1.1% in the first quarter of 2023, according to GDP statistics released by the Bureau of Economic Analysis (BEA) on Thursday morning. The vast majority of the financial sector agrees the economy will continue facing difficulties this year as over a dozen large banks predicted poor growth or a recession, according to Politico. “The U.S. economy is unwell, and it’s starting to show,”...

The average American has lost $4,200 in income due to soaring inflation and rising interest rates, according to an analysis by the Heritage Foundation. Experts at the right-leaning think tank analyzed consumer prices data and the Federal Reserve's interest rates. Consumer prices have risen 12.7 percent since 2021, far outpacing wages and Heritage experts believe this has cost Americans about $3,000 each in purchasing power. As the Fed pushes interest rates to a range of 3-3.25 percent, higher borrowing costs are squeezing Americans on mortgages, vehicle loans and credit cards, costing another $1,200 per year.

The White House is planning a celebration of President Joe Biden’s “Inflation Reduction Act” on Tuesday, even as consumer prices rose again in August, according to the latest numbers from the federal government. The Bureau of Labor Statistics’ Consumer Price Index released Tuesday morning shows that inflation in August rose one-tenth of a percentage point from July and up 8.3 percent from the previous year.

The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession.In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive action since the Fed began using the overnight funds rate as the principal tool of monetary policy in the early 1990s.

Prices that consumers pay on everyday items surged in March to their highest levels since the early days of the Reagan administration, according to Labor Department data released Tuesday. The consumer price index, which measures a wide-ranging basket of goods and services, jumped 8.5% from a year ago on an unadjusted basis, above even the already elevated Dow Jones estimate for 8.4%.

The International Monetary Fund is warning there is a growing connection between cryptocurrency and financial markets, which poses risks to the financial system. In a report, the international body says digital assets are no longer on the “fringe” of the financial system. Given their high volatility, the rising correlation between cryptocurrencies and stocks could soon pose risks to financial stability— especially in countries that have adopted digital units. “The correlation of crypto assets with traditional holdings like stocks has increased significantly, which limits their perceived risk diversification benefits and raises the risk of contagion across financial markets,” the IMF wrote....

Today we have several things to celebrate: Jussie finally got justice: guilty of 5 out of 6 charges. The charge he was acquitted of was “being a good actor.”More good news: Legacy Media tells us everything else is fine.See?JOBLESS CLAIMS LOWEST IN HALF CENTURY...Biden delivering fastest recovery in history…CRAMER: Economy is 'a juggernaut' now... 'Strongest I've Ever Seen'...But wait - what’s this?Inflation At 40-Year High Shocks Americans, Spooks Washington...It’s almost as if we’re living in parallel universes or something.Victim? Perp? Juggernaut? I’m so confused.I’ll just wait for Peppermint Psaki to explain why this isn’t really inflation but rather some sort...

The average price of a gallon of regular gasoline in California reached a record high on Monday. The statewide average increased to $4.68 a gallon Monday, according to figures from the AAA, Fox 11 reported. This new average surpasses the previous record of $4.67 set in Oct, 2012,” the outlet continued: The average price of regular gasoline in California is $1.27 higher than the current national average of $3.41, according to AAA. The average price of a gallon of self-serve regular gasoline in Los Angeles County rose seven-tenths of a cent Monday to $4.672, moving within 3.3 cents of the...