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 ...

 I'll start with some news of the day: The FDA approved its first Alzheimer's drug  to delay dementia. Aducanumab by Biogen, to be sold as Aduhelm. However, it comes with an annual cost of $56,000, plus an additional major diagnostic test expense.   Of course Biogen stock value shot up.   More than 6 million Americans have Alzheimer's, with more than a doubling expected by 2050. All this after somewhat inconclusive tests about the effectiveness of this drug. What this means is that the FDA has effectively concluded that targeting that sticky brain compound, beta-amyloid, is a worthy solution. But the cost and lack of convincing data will mean that medical plans and doctors will show huge reluctance to proceed. My reading of the politics of the Senate and Biden Administration is that the White House has pretty much given up passing liberal and filibuster-killing legislation because of Senator Joe Manchin , who, while a Democrat, barely got elected the last t...