• Skip to content
  • Skip to primary sidebar
  • Home
  • About

Radio America Online News Bureau

Federal Reserve

‘Red Wave of Cash,’ Fed Predicts More ‘Pain,’ FBI’s Election Meddling

August 26, 2022 by GregC

Listen to “‘Red Wave of Cash,’ Fed Predicts More ‘Pain,’ FBI’s Election Meddling” on Spreaker.

Join Jim and Greg as they welcome the news that badly outspent GOP candidates are getting an infusion of $160 million from Mitch McConnell’s Super PAC for the final push to November. They also shudder as Fed Chairman Jerome Powell says he will be acting aggressively to rein in inflation but that many people will feel “pain” in the meantime. And they hammer the FBI after Facebook Founder Mark Zuckerberg tells Joe Rogan how the Bureau told Facebook to be on the lookout to confront expected Russian disinformation. That led Facebook to limit the reach of posts related to the Hunter Biden laptop story.

Share

Filed Under: congress, Constitution, COVID-19, Debt & Deficits, Economy, Elections, Energy, FBI, History, Humor, Inflation, Intelligence, Journalism, News & Politics, Spending Tagged With: 3MartiniLunch, Facebook, FBI, Federal Reserve, inflation, McConnell, midterms, Powell, Rogan, Senate, Zuckerberg

Summers Sounds the Warning, House Reconciliation Headaches, Manchin Rejects IRS Snooping

October 26, 2021 by GregC

Listen to “Summers Sounds the Warning, House Reconciliation Headaches, Manchin Rejects IRS Snooping” on Spreaker.

Jim and Greg serve up all good martinis today! First, they welcome the warning from former Clinton administration Treasury Sec. Larry Summers that the Fed needs to focus on fighting inflation instead of getting involved in “woke” issues. They also enjoy seeing Maine Dem Rep. Jared Golden announce that he is opposed to the reconciliation bill, leaving Nancy Pelosi with a very narrow margin. And they’re happy to see Sen. Joe Manchin state that is opposed to the IRS getting access to our bank account transactions at any threshold without a very good reason.

Please visit our great sponsors:

Fast Growing Trees
https://fastgrowingtrees.com/martini
Save 15% with code MARTINI now through 11/30/21.

Headspace
https://headspace.com/martini
Use promo code MARTINI and get 1 month FREE of the entire meditation library.

Share

Filed Under: Climate, congress, Debt & Deficits, Economy, Education, Elections, History, Humor, Inflation, Journalism, News & Politics, Spending, Taxes Tagged With: Federal Reserve, Golden, inflation, IRS, Larry Summers, Manchin, National Review, reconciliation, Three Martini Lunch

The Economy: Another Jump in Jobs, Coronavirus Impact Looms

March 6, 2020 by GregC

Listen to “The Economy: Another Jump in Jobs, Coronavirus Impact Looms” on Spreaker.

The U.S. economy keeps humming along, boosted on Friday by much stronger February job growth than expected, but with the markets in turmoil over the coronavirus, what will the economic impact be in the weeks and months to come?

On Friday, the Labor Department released the February jobs report, showing 273,000 new hires, nearly 100,000 more than Wall Street analysts anticipated.  Hiring was strong across most sectors and the unemployment rate once again dipped to a roughly 50-year low of 3.5 percent.

What is driving this continued hiring and economic growth?  Supporters of President Trump or his policies point to tax cuts and regulatory reductions as spurring business owners to add personnel or expand operations, but how exactly do those policies do that?

Heritage Foundation economist Joel Griffith shares those answers with Radio America’s Greg Corombos.  Griffith also explains why the markets are wildly fluctuating in response to the coronavoirus threat, which policies make the most sense in response, and why the Federal Reserve was wrong to institute an unscheduled interest rate cut this week.

Listen here for the full podcast.

Share

Filed Under: Economy, Health Care, Journalism Tagged With: coronavirus, Economy, Federal Reserve, jobs, news, regulations, taxes

Why Steve Moore Will Not be on the Fed

May 3, 2019 by GregC

Listen to “Why Steve Moore Will Not be on the Fed” on Spreaker.

On Thursday, supply-side economist Stephen Moore withdrew his nomination for the Federal Reserve Board of Governors after weeks of scathing criticism from Democrats, the media, and even several GOP senators.

The last straw for the Moore nomination seems to be a column he wrote in the early 2000’s that many deemed disparaging to women.  But long before that writing was unearthed, the effort was well underway to sink the nomination.

But why?

“Steve’s got a long history of needling the left.  Steve’s got a long history of talking up tax cuts and things like that that members of the media didn’t like.  Part of it was that and part of it was, ‘Hey, wait a second.  This is a guy who sat next to us forever.  What’s he doing on the Fed now?” said John Tamny, director of the Center for Economic Freedom at FreedomWorks.

Tamny says Moore was looked down upon for not have the educational pedigree we usually see in such nominations.

“There was a little bit of snobbery going on, that you have to have a certain degree to be at the Fed, when in fact a lot of people there aren’t economists.  Not to mention, if you are an economist (at the Fed) your track record for predictions is one of being spectacularly wrong for decades.  What were they so afraid of of having Steve on the Fed board?  I don’t get it,” said Tamny.

Tamny also dismisses suggestions that Moore was too political for the post, noting that every figure who passes through the Federal Reserve has a political agenda of one kind or another.

But another reason for Moore’s rough reception is his very different approach to the Fed compared to how the board usually operates.

“People at the Fed, almost to a man and woman, believe that economic growth causes inflation.  There’s no evidence supporting that.  History is very clear that economic growth is driven by investment and investment is all about falling prices.

“But that’s the consensus view inside the Fed and suddenly you’d have this combative person coming in there and questioning what is accepted wisdom.  I don’t think they like that very much,” said Tamny.

While Tamny strongly supported Moore’s nomination, he does not share Moore’s view that Fed tried to – or even could – stunt economic growth through interest rate hikes.

“I think this notion that the Fed fiddling around with interest rates could have some sort of major economic impact thoroughly insults the U.S. economy.  The idea that we’re reliant on what a bunch of drones do in a globalized world of credit just isn’t a serious one,” said Tamny.

While Tamny believes the Fed has a minimal impact on the economy, he still wants the bureaucrats to just leave the economy alone.

“What the Fed can do best is to do its studies that no one reads and intervene as little as possible because it cannot help the economy.  At best it can hurt,” said Tamny.

Listen to the full podcast for more discussion on Moore withdrawing his nomination, including why Senate Republicans were not willing stand up for him.

Share

Filed Under: News & Politics, Podcasts Tagged With: Federal Reserve, news, Steve Moore

Primary Sidebar

Recent

  • DeSantis Laughs Off Trump Insults, More Uvalde Frustration, Reparations Madness
  • Dems Sour on Abrams, China & Marijuana, Dem Demeans School Parents
  • Russia & China Grow Closer, Mexican President’s Accusations, Trump Legal Drama
  • McCarthy’s Energy Focus, Marianne’s Temper, Barney Frank Gets A Pass
  • Biden’s Weak Nominee, Tons of Missing Uranium, Emhoff’s Asinine Analogy

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008

Copyright © 2023 · News Pro on Genesis Framework · WordPress · Log in