Sen. Lindsey Graham’s (R-S.C.) death has left a massive hole in the hawkish wing of the Senate GOP as President Trump navigates the wars in Iran and Ukraine. There’s broad agreement that no single lawmaker can fill the void left by the Senate stalwart, a rare figure who was close to the president while maintaining [...]
Inflation has been too high for too long, and the Federal Reserve should not count on it fading without further action. - That is the argument from the three Fed officials who dissented from the decision led by chairman Kevin Warsh to leave interest rates unchanged this week, preferring instead to raise them. Why it matters: Together, the dissents lay out a blueprint for the Fed's hawkish wing, arguing that repeated supply shocks paired with resilient demand have made inflation too persistent to fade on its own without tighter monetary policy. - The question in the months ahead is whether that argument persuades more policymakers, especially if inflation remains stubborn. - It is worth watching whether they turn out to have momentum…
Internal divisions over whether to raise interest rates intensified at Kevin Warsh’s second meeting as chairman of the Federal Reserve.
The former infectious disease maven and the late senator each found ways to engineer catastrophes for Trump. The post Fauci and Graham: Trump’s Disaster Men appeared first on The American Conservative .
Politics Politics Fauci and Graham: Trump’s Disaster Men The former infectious disease maven and the late senator each found ways to engineer catastrophes for Trump. Photo by Alex WROBLEWSKI / AFP via Getty Images It was a strange coincidence that Anthony Fauci pleaded the Fifth at nearly the same time memorial services for Lindsey Graham were concluding. While the buck stops with the commander-in-chief, Fauci gave advice publicly and privately that derailed President Donald Trump’s first term. Graham’s public and private counsel may yet derail Trump’s second term. …Open
Kevin M. Warsh’s second meeting as chairman of the Federal Reserve was colored by internal divisions over the path forward for policy.
Trump had appointed Warsh to replace Powell, whom he repeatedly criticized for his hesitance to lower interest rates.
‘He was extremely hawkish’
Kevin M. Warsh, who has said the Federal Reserve has “no tolerance” for elevated inflation, must decide whether he wants to push for an interest-rate increase at this week’s policy meeting.
See what TAC staff have been up to this week. The post TAC Media Appearances: 7/13–7/20 appeared first on The American Conservative .
- Tucker Carlson joined Senior Editor Andrew Day and Correspondent Harrison Berger on the latest episode of TAC Right Now - Carlson’s appearance on TAC Right Now was featured on Breaking Points - Executive Director Curt Mills was quoted in POLITICO’s article “Graham was America First’s most powerful counterweight. The movement sees an opening.” - Day appeared on the Glenn Loury Show to talk about Trump, Israel and Iran - Associate Editor Joseph Addington spoke at a panel on the Trump Administration’s Cuba policy hosted by Concerned Veterans for America - Mills was quoted by the Guardian on the Iran War’s potential impact on the midterm elections - Jewish Currents reported on Mills’s…Open
The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. - Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. - Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday. - "Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't…