Federal Reserve Chair Jerome Powell dismisses stagflation concerns, stating current economic conditions don't warrant such characterization amid ongoing policy debates
#YonhapInfomax #FederalReserve #JeromePowell #Stagflation #EconomicConditions #MonetaryPolicy #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
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Powell - Current Situation Not Stagflation, Term Inappropriate

Federal Reserve Chair Jerome Powell dismisses stagflation concerns, stating current economic conditions don't warrant such characterization amid ongoing policy debates

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Letters from an American – January 6, 2026 – Heather Cox Richardson

Letters from an American, January 6, 2026

By Heather Cox Richardson, Jan 06, 2026

“They say that when you win the presidency you lose the midterm,” President Donald J. Trump said today to House Republicans. “I wish you could explain to me what the hell is going on with the mind of the public because we have the right policy. They don’t. They have a horrible policy. They do stick together. They’re violent, they’re vicious, you know. They’re vicious people.”

“They had the worst policy. How we have to even run against these people—I won’t say cancel the election, they should cancel the election, because the fake news will say, ‘He wants the elections canceled. He’s a dictator.’ They always call me a dictator. Nobody is worse than Obama. And the people that surrounded Biden.”

And there you have it: in a rambling speech in which he jumped from topic to topic, danced, and appeared to mimic someone doing something either stupid or obscene, Trump explained the ideology behind his actions. He and MAGA Republicans have absorbed the last 40 years of Republican rhetoric to believe that Democratic policies are “horrible” and that only Republicans “have the right policy.” If that’s the case, why should Republicans even have to “run against these people?” Why even have elections? When voters choose Democrats, there’s something wrong with them, so why let them have a say? Their choice is bad by definition. Anything that they do, or have done, must be erased.

That is the ideology behind MAGA, amped up by the racism and sexism that identifies MAGA’s opponents as women, Black Americans, and people of color. In their telling, the world Americans constructed after World War II—and particularly after the 1965 Voting Rights Act protected Black and Brown voting—has destroyed the liberty of wealthy men to act without restraint. Free them, the logic goes, and they will Make America Great Again.

As tech entrepreneur Peter Thiel wrote in 2009: “I no longer believe that freedom and democracy are compatible.” He continued: “The 1920s were the last decade in American history during which one could be genuinely optimistic about politics. Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women—two constituencies that are notoriously tough for libertarians—have rendered the notion of ‘capitalist democracy’ into an oxymoron.”

“Because there are no truly free places left in our world,” he wrote, Thiel called for escaping into cyberspace, outer space, or seasteading.

While tech leaders are focusing on escaping established governments, Trump’s solution to an expanded democracy appears to be to silence the voters and lawmakers who support the “liberal consensus”—the once-bipartisan idea that the government should enable individuals to reach their greatest potential by protecting them from corporate power, poverty, lack of access to modern infrastructure, and discrimination—and to erase the policies of that consensus.

Nowhere does Trump’s conviction that he, and he alone, has the right to run the United States show more clearly than in the White House’s rewriting of the history of the January 6, 2021, attack on the U.S. Capitol. The insurrectionists who stormed the Capitol were Trump supporters determined to overthrow the free and fair election of Democrat Joe Biden by more than 7 million votes in 2020, replacing him with Trump by virtue of their belief that no Democrat could be fairly elected.

But the official White House website reversed that reality today, claiming that the insurrectionists who beat and wounded at least 140 police officers, smeared feces on the walls of the Capitol building, and called for the hanging of Vice President Mike Pence were “peaceful patriotic protesters.” The real villains, the White House wrote in bold type, were “the Democrats who staged the real insurrection by certifying a fraud-ridden election, ignoring widespread irregularities, and weaponizing federal agencies to hunt down dissenters.”

In reality, modern Republican policies have rarely served everyday people, while the policies enacted by Democratic president Joe Biden demonstrably did. Biden rejected the ideology that called for cutting taxes, regulations, and social services in the name of liberty. Instead, he urged Congress to invest in public infrastructure, creating jobs, and he shored up the social safety net.

As Biden prepared to leave office in January 2025, Trump claimed that the U.S. was in freefall, “a disaster, a laughing stock all over the World!” But Peter Baker reported in the New York Times that the opposite was true: Biden and his administration were leaving behind a country that was in the best shape it had been since at least 2000.

There were no U.S. troops fighting in foreign wars, murders had plummeted, deaths from drug overdoses had dropped sharply, undocumented immigration was below where it was when Trump left office in 2021, stocks had just had their best two years since the last century. The economy was growing, real wages were rising, inflation had fallen to close to its normal range, unemployment was at near-historic lows, and energy production was at historic highs. The economy had added more than 700,000 manufacturing jobs among the 16 million total created since 2020.

Baker quoted chief economist of Moody’s Analytics Mark Zandi, who said: “President Trump is inheriting an economy that is about as good as it ever gets.”

Once in office, Trump set about dismantling the policies that had achieved those results. And now, after destabilizing the country at home, he is working to destroy the rules-based international order that has stabilized the world since World War II. In addition to an illegal attack on Venezuela to extract Venezuelan president Nicolás Maduro and his wife Cilia Flores, Trump is threatening Colombian president Gustavo Petro, saying “Cuba is ready to fall,” and warning Mexico to “get their act together.”

Although his sights are primarily on countries in the Western Hemisphere, Trump has also warned that if Iran starts “killing people like they have in the past, I think they’re going to get hit very hard by the United States.”

Trump has also threatened Greenland, which is a self-governing island that is part of Denmark, an ally in the North Atlantic Treaty Organization. As NATO allies, Greenland and the U.S. have cooperated on defense for decades, so Trump’s declaration that the U.S. needs Greenland for national defense makes no sense.

Danish Prime Minister Mette Frederiksen said in a statement Sunday: “The Kingdom of Denmark—and thus Greenland—is part of NATO and is therefore covered by the alliance’s security guarantee. We already have a defense agreement between the Kingdom and the United States today, which gives the United States wide access to Greenland. I would therefore strongly urge the United States to stop the threats against a historically close ally and against another country and another people who have said very clearly that they are not for sale,” she said.

On Monday, Fredriksen said: “If the United States chooses to attack another NATO country militarily, then everything stops. That is, including our NATO and thus the security that has been provided since the end of the Second World War.” Today, France, Germany, Italy, Poland, Spain, the United Kingdom, and Denmark issued a statement of support for Greenland, Denmark, and NATO.

In Venezuela, the U.S. took Maduro and Flores but rather than supporting the actual winner of the 2024 presidential election, Edmundo González, or opposition leader María Corina Machado, the administration left the Maduro government in place, led by former vice president Delcy Rodríguez.

María Luisa Paúl reported in the Washington Post today that in the hours since Maduro’s removal, the Venezuelan government has cracked down on those showing support for the U.S. operation. It detained at least 14 journalists, sent armed gangs into the capital, restricted protests, and arrested citizens who appeared to be “involved in promoting or supporting the armed attack by the United States of America.”

Machado said the government’s actions are “really alarming.”

Trump claims that the U.S. is “running” Venezuela, and he has dropped the pretense that he is concerned about drug traffickers or Maduro’s seizure of the presidency. Instead, he has made it clear that what he really wants is for the Venezuelan government to give him access to the country’s oil. In much the same way as he claims Democrats were responsible for January 6 because they honored the will of the voters and refused to give him the second term he wanted, Trump maintains that Venezuelans “stole” the American oil that sits under their own land.

Trump’s plan to tear up the rules-based international order and replace it with U.S. control over the Western Hemisphere will cost the world dearly, but using the U.S. military to threaten other countries and seize control of their resources does create big winners:

This evening, Trump’s social media account posted: “I am pleased to announce that the interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter! DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA.”

Notes:

https://www.cato-unbound.org/2009/04/13/peter-thiel/education-libertarian

https://www.whitehouse.gov/j6

https://www.businessinsider.com/capitol-riot-custodial-staff-cleanup-janitors-maga-trump-white-supremacists-2021-

https://www.nytimes.com/2025/01/05/us/politics/trump-us-disaster-numbers.html

https://thehill.com/homenews/administration/5672700-trump-venezuela-cuba-mexico-threats

https://www.cnbc.com/2026/01/04/trump-denmark-greenland-frederiksen-venezuela.html

https://abcnews.go.com/International/wireStory/danish-prime-minister-us-takeover-greenland-mark-end-128924806

https://www.washingtonpost.com/world/2026/01/06/venezulea-maduro-rodriguez-government-repression

https://www.washingtonpost.com/national-security/2026/01/06/white-house-floats-military-option-greenland-rattling-denmark-nato

https://time.com/archive/6847602/oil-venezuelas-own

https://www.caracaschronicles.com/2025/12/26/the-theft-that-never-was-inside-venezuelas-1976-oil-takeover/

Bluesky:

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atrupar.com/post/3mbrbomjxnu2w

atrupar.com/post/3mbran2ykv52g

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atrupar.com/post/3mbrfdybhxj2l

meidastouch.com/post/3mbra343lt223

Continue/Read Original Article Here: January 6, 2026 – by Heather Cox Richardson

Tags: Donald Trump, Economic Conditions, Economy, Heather Cox Richardson, Ignore Ordinary People, January 6 2026, Letters from an American, MAGA, MAGA Opponent Black Americans, MAGA Opponent People of Color, MAGA opponent Women, Racism, Sexism, Substack, Trump, Trump Administration
#DonaldTrump #EconomicConditions #Economy #HeatherCoxRichardson #IgnoreOrdinaryPeople #January62026 #LettersFromAnAmerican #MAGA #MAGAOpponentBlackAmericans #MAGAOpponentPeopleOfColor #MAGAOpponentWomen #Racism #Sexism #Substack #Trump #TrumpAdministration
Several killed in Iran during violent protests sparked by economic conditions
Several people were killed during unrest in Iran, Iranian media and rights groups said on Thursday, as the biggest protests to hit the Islamic Republic for three years over worsening economic conditions sparked violence in several provinces.
#protests #violence #economicconditions #Iran
https://www.cbc.ca/news/world/iran-protests-deaths-9.7032103?cmp=rss
Several killed in Iran during violent protests sparked by economic conditions
Several people were killed during unrest in Iran, Iranian media and rights groups said on Thursday, as the biggest protests to hit the Islamic Republic for three years over worsening economic conditions sparked violence in several provinces.
#protests #violence #economicconditions #Iran
https://www.cbc.ca/news/world/iran-protests-deaths-9.7032103?cmp=rss
BOJ Governor signals potential for additional rate hikes, emphasizing that future monetary tightening will depend on economic and inflation conditions.
#YonhapInfomax #BOJ #RateHike #MonetaryPolicy #Inflation #EconomicConditions #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=97170
BOJ Governor Says Further Rate Hikes Possible If Economic and Price Conditions Permit

BOJ Governor signals potential for additional rate hikes, emphasizing that future monetary tightening will depend on economic and inflation conditions.

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RBA Governor Discusses Potential Need for Monetary Tightening

RBA Governor signals possible monetary tightening ahead, highlighting central bank's vigilance amid evolving economic conditions.

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Why baby boomers are the wealthiest generation – The Washington Post

How baby boomers got so rich and why their kids are unlikely to catch up

The wealthiest generation holds more than $85 trillion in assets thanks to economic conditions Gen X, millennials and others would be hard-pressed to replicate.

November 18, 2025 at 5:00 a.m. EST, Yesterday at 5:00 a.m. EST, 7 min

(Washington Post illustration; iStock)

By Shannon Najmabadi and Federica Cocco

Get a curated selection of 10 of our best stories in your inbox every weekend.

The reasons come down to timing and time: Americans 75 and older bought homes and invested in stocks well before such assets exploded in value, according to Edward Wolff, an economics professor at New York University. In a working paper for the National Bureau of Economic Research, he examined the four decades between 1983 and 2022 when those older boomers saw their wealth climb and their younger peers recorded relative declines.

“It’s astonishing how their relative wealth has taken off in the last 30-plus years,” Wolff said. “They started out as among the poorest groups in terms of wealth back in 1983.”

The wealth of baby boomers — especially those in retirement —is a reflection of the uniquely favorable economic conditions that occurred during their working lives, Wolff and other economists said. So much so that it would be difficult for younger generations to emulate, especially as they are more likely to be weighed down by debt or child care costs.

Housing costs also factor into the widening divide between baby boomers (born from 1946 to 1964) and everyone else, experts say. Generation X (1965 to 1980), millennials (1981 to 1996) and their successors increasingly dedicate a bigger portion of their budgets to mortgage or rent.

People might assume boomers’ wealth reflects superior financial decision-making, if they don’t consider the historical context that allowed boomers to build their wealth over decades, said Olivia Mitchell, professor of business economics and public policy at the University of Pennsylvania’s Wharton School.

Editor’s Note: Read the rest of the story, at the below link.

Continue/Read Original Article Here: Why baby boomers are the wealthiest generation – The Washington Post

#babyBoom #babyBoomers #boomerKids #boughtHomes #childrenOfBoomers #economicConditions #economy #federicaCocco #generation #housingCosts #nationalBureauOfEconomicResearch #rich #shannonNajmabadi #stockInvestments #wealth #wealthiest #workingLives

Mali's fuel shortage sparks urgent advisories from Western countries http://newsfeed.facilit8.network/TP0r7B #Mali #FuelShortage #Crisis #Security #EconomicConditions
Fed Chair Powell signals a growing divide within the FOMC, as some members advocate for a pause in policy tightening amid shifting economic conditions.
#YonhapInfomax #Powell #FOMC #PolicyPause #FederalReserve #EconomicConditions #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
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