Federal Reserve Body Slams the Economy

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In-Brief

• The Federal Reserve body slams the economy with a large rate hike that will slow growth.
• Little new emerged from the Jan. 6 Committee Kangaroo Court. Public interest wanes.
• May Job growth came in well above estimates.
• Inflation stays dangerously high and is likely to stay that way throughout 2022.
• The US Main Street economy continues to be strong, with just 3.6% unemployment.
• China’s economy keeps getting into deeper trouble and is stagnant or in a recession.
• In the Russia-Ukraine war neither side has made significant gains in the last month or so.
• Much of the world, but not the US, except in limited food categories, is likely going to suffer extensive and very dangerous food shortages, famine, and starvation this year and next.
• Biden’s political support among Democratic leaders and the media is beginning to collapse.