The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

WASHINGTON (AFP) – The Federal Reserve on Wednesday left its $85 billion a month stimulus program in place, against broad expectations that it would reduce it as the economy grows.

Fed policy makers instead cut their growth forecast for this year and next, suggesting the economy is feeling the impact of government spending cuts and continues to struggle to break free from the Great Recession.

The Fed’s Federal Open Market Committee had been widely expected to begin reducing the bond-purchase program, aimed at pulling down long-term interest rates, after Fed Chairman Ben Bernanke predicted in May that the stimulus operation could be tapered late this year.

The FOMC said that although the economy appears to be holding up amid government “sequester” spending cuts, it “decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

Photo Credit: AFP/Brendan Hoffman

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Rep. Ted Budd, left, and Cheri Beasley

On Tuesday, North Carolina Republicans selected Rep. Ted Budd (R-NC), a far-right extremist who has pushed false claims about the 2020 election, to be their Senate nominee. He will face Democratic nominee Cheri Beasley, a former chief justice of the state's Supreme Court.

As of Wednesday morning, Budd had received more than 58 percent of the GOP primary vote. Former Gov. Pat McCrory received just below 25 percent of the vote, while former Rep. Mark Walker received about nine percent of the vote.

Keep reading... Show less

Stephen Colbert

It seems we can't go even a week in America without some deranged white nationalist shooter taking the lives of decent people. Of course, this type of violence is propagated on a daily basis by the far-right sh*tweasals at Fox News and, worse yet, in the ranks of the Republican Party.

After returning to the Late Show helm, Stephen Colbert weighed in on the real culprit behind the mass shootings -- the Replacement Theory popularized by Tucker Carlson.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}