Initial jobless claims ticked back up during the week ending 11 September and came in at 332,000, slightly higher than what was forecast. Still yet, 12.1 million Americans continue to claim some form of unemployment insurance, which gives us a de facto unemployment rate of 8.8 percent. Meanwhile, the August jobs report was far from spectacular, leading many analysts to believe that September may be just as bad on some fronts.
The Federal Reserve’s balance sheet expanded by $90 billion week over week to now stand at a new all-time high of $8.45 trillion! Despite talks of tapering and slowing the purchases of US debt and mortgage-backed securities, it is the actions that need to be monitored closely and not the rhetoric. At this pace, the Fed is well on their way to having their balance sheet hit $9 trillion by the end of the year, which would be a 10x increase since the Great Recession just a little over a decade ago! The Fed will meet next week to hold their FOMC meeting, which will conclude on Wednesday. Jay Powell, Chairman of the Fed, will then hold his traditional press conference to discuss the meeting. However, what should also be on the agenda is an ethics review that is taking place within the Fed. It has come to light that Federal Reserve Bank Presidents and other members of the board have been personally benefitting, financially, due to the policies that the Fed has been enacting. Now, caught, some of these members have been selling some of their portfolios and stating it is a conflict of interest. This is funny, because they did not seem to think so before they got caught. And what of the millions of dollars that they made? Are they going to return it to the Fed, the government, or some charity? We are not holding our breath on that one. Now, the Fed is conducting their own internal ethics review – sounds like the fox investigating the hen house! Stay diversified, stay vigilant, and stay with The Kapital News. #Economy #Inflation #Stagflation #Gold #Silver #Commodities #Oil #NaturalGas #Jobs #Freedom #Liberty #Justice #Peace #Revolution #Protests #FoodPrices