Thursday, May 5, 2022

The Fed Raises Interest Rates to Fight Inflation
 Madeline Leesman / Townhall Tipsheet

On Wednesday, the Federal Reserve increased its benchmark interest rate by half a percentage point, the largest since 2000, in response to 40-year record high inflation pressures.

In a statement released at 2 p.m., the Fed wrote that inflation, COVID-19 lockdowns in China, and Russia’s invasion into Ukraine have created economic hardship in the United States. 

Although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong. Job gains have been robust in recent months, and the unemployment rate has declined substantially. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures. 

Manchin and Sinema Just Killed Democrat Hopes of Codifying Roe v. Wade 
Spencer Brown – Townhall Tipsheet
This week, Democrat Senators Joe Manchin of West Virginia and Kyrsten Sinema of Arizona dashed the hopes of their more radical colleagues amid renewed calls to pass a federal law that would overrule state limits or prohibitions on abortion.

Calls for slim Democrat majorities in the House and Senate to quickly advance a bill, the inaccurate and grossly named “Women’s Health Protection Act,” that would codify Roe v. Wade’s concocted right to abortion were swift. Almost a little too swift, perhaps, in the wake of an unprecedented leak from the Supreme Court that showed a draft opinion by Justice Samuel Alito overturning Roe. The bill was already passed by Speaker Pelosi’s Democrat caucus in the House of Representatives, but in order to get the legislation past the Senate and on to President Biden’s desk for signature, the bill would need to garner 60 votes in order to move…Read more here.