Before I go into my family, just one news matter: this decision yesterday. The Federal Reserve raised its benchmark interest rate for the first time in three years and signaled one more interest rate hike in the coming months as it aims to slow rising inflation. The central bank raised rates yesterday 0.25%, making its flagship rate 4.00%. And as of this week, all but two members of the Federal Open Market Committee forecast another rate increase this year. Inflation was up to 3.4% as of August, fueled by the Iran war’s impact on energy prices. Fed Chair Kevin Warsh told reporters that his agency can’t affect the prices of food and other items, “but what we can do, and will do, is ensure that any change in relative prices don’t broaden out.” President Donald Trump reacted to the decision by demanding interest rates be lowered, “AND FAST!” He later said the Fed’s decision was due to a “hostile board” that Warsh couldn't overpower. “I told, I talked to Kevin, and I think if ...
New SIMPLE SOLUTIONS for PLANET EARTH AND HUMANITY: This blog site derives from the original version of Planet Earth & Humanity, but will be more WE than ME. The coverage will remain similar, but perhaps these postings will seem to come from a parallel universe, or maybe even Purgatory. But truth and reality will prevail, with dashes of whimsy and levity to help make your day.