The job guarantee asserts that, if individuals bear a moral duty to work, then society and employers bear a reciprocal moral duty to provide good, dignified work for all. It would finally make real the ideal, stated in Franklin Roosevelt’s “Economic Bill of Rights,” that every American possesses a “right to a useful and remunerative job” and “to earn enough to provide adequate food and clothing and recreation.” Not a paternalistic aid, and not some tribute to aristocratic virtue, but a right to be claimed and exercised
The current federal funds rate — the interest rate banks charge each other — currently is at 0.5 percent. The rate was as high as 20 percent in the 1980s to combat inflation.
Although Yellen expressed caution about too steep a rise in U.S. rates, she sounded more confident than she has in the past that the U.S. economy has rebounded from a weak winter and that inflation would edge higher toward the Fed’s 2 percent target.
After supporting Clinton in 2000 and 2008, Lloyd Blankfein told CNBC In February 2016 “I don’t want to help or hurt anybody by giving them my endorsement.”
As a handful of well-respected economists belatedly concede, the free trade agreements that drew bipartisan support for much of the last 25 years never brought the broad prosperity that was promised.
The establishment “lane” has gone to Marco Rubio. That lane has become far more radical, and far more in sync with financial wealth, than anyone should have expected a year ago.
“The process is likely to proceed gradually,” Federal Reserve Chair Janet Yellen said, a hint that further hikes will be slow in coming.
Federal Reserve policymakers are expected to end months of speculation Wednesday and raise a key interest rate for the first time in nearly a decade. But for average Americans hoping for noticeably higher returns on their savings or fearing a sharp increase on credit card, auto loan or mortgage rates, the waiting is likely to continue.
“I think the point of ‘liftoff’ is close,” Atlanta Fed President Dennis Lockhart said in prepared remarks for an address to the Atlanta Press Club. “The economy has made great gains and is approaching an acceptable normal… conditions are no longer extraordinary.”
New data on service sector gains gave way to concerns from investors who fear it will provide a green light for the Federal Reserve to start raising interest rates.
The U.S. dollar and Treasury yields rose on Tuesday, while stocks fell, after comments from a top Federal Reserve official brought forward market expectations of an interest rate increase.
“The Fed is taking baby steps towards a rate hike. Enough improvements have been made in the labor market that the Fed only needs a little more confirming evidence to say it is time,” said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management.
One lucky lady — yet to be chosen — will become the first woman in more than a century to join an esteemed coterie of dead presidents and statesmen featured on American paper currency.