News Story of the Day: Speaking after the terrorist attacks abroad and the shootings at home, Federal Reserve Chair Janet Yellen warned that the latest surge in violence could have weaken the United States and global economies. When asked about the threat the shootings and terrorist incidents have on the economy, Yellen noted that the Fed keeps an eye out for it.
“Those risks are ones that we watch very carefully,” she said. “It does have the potential to have a significant economic effect.”
Yellen added that she has not seen any consequences for the economy as of yet. The Fed Chair explained that following the economic collapse, U.S. households and private companies were being cautious in their behaviors. The same could happen with geopolitical strife: “I would add geopolitical risk as a further factor that is causing that kind of cautiousness.”
The current consensus right now is that the Fed will raise interest rates later this month for the first time since 2006.
Chart of the Day: Don’t believe the Seattle minimum wage is having any effects on the restaurant business? The American Enterprise Institute is out with a chart that compares job growth in the restaurant industry to Washington State and national restaurants as well as United States, Washington and Seattle. It’s going to get worse as time goes by and that minimum wage reaches its high.
Illustration of the Day: With Socialist Senator Bernie Sanders dropping in the polls faster Sarah Palin’s IQ, this cartoon published back in the spring by the New York Daily News is a great illustration for today. Sanders is now behind Hillary Clinton 27 points in the latest national polls. He’s doomed.
Quote of the Day: Ah, the media. One has to just shake his head in embarrassment whenever CNN or Fox News is on the television. Rather than accurately reporting the news, the major networks are talking about the news, espousing vacuous polemics or airing propaganda. This quote from Thomas Sowell is definitely astute.
“If people in the media cannot decide whether they are in the business of reporting news or manufacturing propaganda, it is all the more important that the public understand that difference, and choose their news sources accordingly.”
Video of the Day: Here is a video that has been ignored during this 2016 presidential campaign. In this clip, then-Texas Republican Congressman Ron Paul was talking about how Vermont Senator Bernie Sanders had gutted the Audit the Fed bill. It seems Sanders is a friend of the U.S. central bank, especially since he never talks about how the Fed helps the one percent, exacerbates income inequality and destroys the middle class. Then again, Sanders is all about buzzwords and platitudes.
The Fed creates or helps create all this drama. They look out for it???really???
If your in business and can’t pay a living wage your not in business your in extortion and “slavery”