by Dr. Ron Paul
Ron Paul Institute
The 2024 Republican platform promises that, if Donald Trump returns to the White House and Republicans gain complete control of Congress, they will reduce inflation. The platform contains some proposals, such as reducing regulations and extending the 2017 tax reductions, that may help lower prices in some sectors and spur economic growth. However, the GOP platform does not address how the Federal Reserve’s enabling of spendaholic politicians contributes to price inflation.
Other than an obligatory promise to cut “wasteful” spending, and a pledge to eliminate the Department of Education, the Republican platform is largely silent on proposals to reduce federal spending.
At 18, Michelle Chen covers her cellphone bills as well as school expenses. She squirrels away money for college. And, with her earnings from a summer job with the Boston’s SuccessLink Youth Employment Program, she helps her parents by stocking the fridge with groceries when the shelves are bare and makes sure her two younger brothers have pocket money.
Former President Donald Trump is pro-crypto.
CHICAGO — Consumers have long memories, which means sales and promotions at grocery stores don’t seem like bargains right now because prices are 30% higher than they were five years ago.
Hotel prices and ticket costs are soaring in Türkiye as inflation hits tourism.
If you don’t think the Fed has become an abject handmaid of the Wall Street gamblers, take a gander at the chart below. Owing to the slight down-tick in this week’s monthly CPI report, the outcry for rate cuts is reaching a deafening roar down in the trading pits. And judging by Powell’s presser on Wednesday, the Fed is fixing to bend over soon, bar of soap in outstretched hand.:max_bytes(150000):strip_icc():format(webp)/GettyImages-1961227840-62b23241ef6742b6a51dc56ede70089f.jpg)
While the Federal Reserve is starting to feel pretty good about inflation, consumers remain frustrated about price pressures.
In a post on X, formerly known as Twitter, President Joe Biden announced on July 21, that he has dropped out of the 2024 Presidential race.
The Fed will likely begin cutting interest rates in the months ahead, for good reason.
Consumer inflation is declining, but business costs are a different story, challenging many companies. A little relief is in the cards, but not enough to compensate for smaller increases in product prices. Most businesses will need productivity growth to protect their profit.