Editorial

Fed finally gets interest rates above inflation

The U.S. Federal Reserve has once again hiked interest that it charges banks in the wake of continued elevated inflation — which peaked at 9.1 percent in June 2022 — in a bid to calm what has been a lingering problem for the overheating economy, which slowed down to 1.1 percent annualized growth in the first quarter.
Finally, the Fed has brought the Federal Funds Rate, now at 5 percent to 5.25 percent, above that of the consumer inflation rate, which remained at 5 percent in March with the April report due from the Bureau of Labor Statistics on May 10.

Poll: What 37 percent of Democrats and 76 percent of independents are thinking

A whopping 37 percent of Democrats and 76 percent of independents believe President Joe Biden, now 79-years-old, is too old to be the President of the United States, a new Harvard-Harris poll taken April 18 through April 19 shows.
The results come as Biden is expected to announce his reelection bid this week, with serious doubts mounting as to his ability to compete, both in the general election—the same poll shows Biden trailing former President Donald Trump by 5 points, 45 percent to 40 percent—and even in the Democratic Party presidential primary.

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