Fed insists Rate Hike Still On the Table Despite Recent Poor Jobs and Economic Reports

BGASC Metals / Townhall Columnist 

The Fed reappeared on market participants’ radar screens last month when a few Fed Presidents revived the idea that a rate hike was possible in September. Janet Yellen confirmed that possibility at her Jackson Hole speech later in August. Fed Vice Chair reaffirmed that Ms. Yellen’s remarks at Jackson Hole were indeed consistent with the possibility of a rate hike in September. The Vice Chair was careful to note that the upcoming August Non Farm Payroll Report would be an important factor in determining the direction of rate hikes.

Last Friday, the widely anticipated Non Farm Payroll number was released and it was a big miss, just 150,000 new jobs were created in August vs. expectations ranging from 180-200K. Market participants took this poor job reading as a sign that a rate hike in September was off the table.

Then, as if on cue Fed Presidents Williams, earlier this week and Rosengren today expressed their support for interest rate hikes. San Francisco Fed President John Williams insisted the “economy was strong” and rate hikes were warranted. Boston Fed President Eric Rosengren warned that the economy risked overheating if rates were not raised. These statements about the health of the economy contradict not only the sub par August non farm payroll reading but also declines in the ISM manufacturing and services reports. The ISM services report reflected a declining barely expanding sector and the manufacturing report indicated a contraction.

Russia, U.S. Announce New Peace Plan For Syria

Matt Vespa / Townhall Tipsheet

Well, after a prolonged discussion about our relations with Russia, Secretary of State John Kerry announced that our two countries have reached an agreement on a joint peace plan for Syria (via WaPo):

“Today the United States and Russia are announcing a plan which we hope will reduce violence, reduce suffering and resume movement toward a negotiated peace and a transition in Syria…that if followed, has ability t o provide a turning point, a moment of change,” said Secretary of State John F. Kerry. 

The deal nearly seemed to have slipped away earlier in the evening, when Russian Foreign Minister Sergei Lavrov said he was thinking of “calling it a day” on Syria talks with the United States, at least until next week, after waiting for more than five hours for Kerry to obtain approval from Washington for a deal he said the two had agreed upon.
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Iran may have received $33.6 BILLION in secret payments facilitated by Obama administration
By Christine Williams / Jihad Watch

 

It’s striking that Barack Obama, the Commander-in-Chief of the U.S. military, is doing backroom deals with Iran, which the U.S. State Department has listed as the top state sponsor of terrorism in the world. It is now reported that: “Iran may have received an additional $33.6 billion in secret cash and gold payments facilitated by […]
 
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On 15th Anniversary Of 9/11, Al-Qaeda Leader Al-Zawahiri Urges Mujahideen To Focus On Targeting U.S., Incites Black Christians Against U.S. And Calls Them To Islam

Pamela Geller / Atlas Shrugs

Following in the footsteps of terror-tied Islamic groups like CAIR and ISNA, Muslim terror groups overseas are working hard to co-opt the African-American civil rights narrative and exploit racial division.

War. They want war and are trying to build an army among our own.

Of course,  Al-Zawahiri fails to mention that black in Arabic is “abeed,” or slave, or that blacks are enslaved by Muslims in many Muslim countries.

“On 15th Anniversary Of 9/11, Al-Qaeda Leader Al-Zawahiri Urges Mujahideen To Focus On Targeting U.S., Incites Black Christians Against U.S. And Calls Them To Islam,”  MEMRI, September 9, 2016:

On September 9, 2016, Al-Qaeda’s media wing Al-Sahab released a video message by the group’s...

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