Free Republic

On Monday’s broadcast of CNBC’s “Squawk Box,” White House National Economic Council Director Lael Brainard reacted to negative poll numbers on the economy by stating that “the economy is performing exceptionally well” but “people have been through a very challenging few years between the pandemic, and then the oil price spikes associated with Russia’s war. It’s going to take a while for them to feel really confident,” and most people “feel like their personal finances are better now than they were before.” Co-host Andrew Ross Sorkin said, “Speak to this, though, because I think there [are] a lot of folks...

When Federal Reserve Governor Lael Brainard speaks, markets listen Federal Reserve Governor Lael Brainard said the U.S. central bank will continue to tighten policy methodically and shrink its balance sheet at a rapid pace as soon as May. Brainard’s hawkish remarks sent bond prices crashing and 10Y bond yields up over 16 bps. While Bankrate’s 30Y mortgage rate is down slightly today, the surge in the 10Y and 2Y Treasury yields could push mortgage rates above 5% by tomorrow, Even Europe is feeling Brainard’s wrath. Italian 10Y sovereign yields are up almost 20 bps. The NASDAQ index is down 300...

Revelations that Federal Reserve Gov. Lael Brainard donated to Hillary Clinton's presidential campaign has created a tough situation for the central bank, at a time when Donald Trump has been accusing the Fed of making policy based on political bias. A day after Fed Chair Janet Yellen found herself in the hot seat on Capitol Hill over the Brainard donation, Kansas City Fed President Esther George danced around the issue on Thursday in a CNBC interview.

Articles still fall short of ambitious work in the U.K. A couple of America’s leading media outlets finally dug into the recent controversy surrounding the Intergovernmental Panel on Climate Change last week. The Observatory first criticized U.S. news outlets two weeks ago for not paying more attention to the issue. Last Tuesday, The New York Times ran a front-page article by Elisabeth Rosenthal under the headline, “U.N. Panel and Its Chief Face a Siege on Their Credibility.” On Wednesday, the Associated Press ran one over the wire headlined, “Scientists seek better way to do climate report.” The difference between the...

WASHINGTON (AP) - President Barack Obama's choice for a top job with the Treasury Department is having tax problems. A congressional report says Obama's nominee for undersecretary of the Treasury for international affairs, Lael Brainard, was late in paying real estate taxes in 2005, 2006 and 2007. The report by the Senate Finance Committee staff also challenges the accuracy of a deduction Brainard claimed for running an office from her home. The challenge led Brainard to reduce the deduction on her 2008 return. The committee's top Republican is unhappy that the committee staff had to submit 10 sets of questions...