To combat the highest inflation rate during the height of “stagflation” in 1981, the Federal Reserve on Wednesday announced yet another increase to the central bank’s overnight interest rate, hiking it 75 basis points. Overall, the Fed has gradually increased interest rates from near 0 to between 2.25 and 2.50 percent in just four months, the fastest tightening of monetary policy since the Fed’s attempt to battle stagflation in the early 1980s.
If the United States were simply experiencing a sustained period of inflation caused by booming consumption and investment activity, this might constitute an effective approach. Yet, this inflationary period has been caused by excessive money printing at the hands of the Fed and substantial government spending throughout the COVID-19 pandemic, rather than any sort of natural phenomenon.
By Illinois ReviewOn Wednesday, during an appearance on Newsmax, former Ill. Gov. Rod Blagojevich suggested that Gov. JB Pritzker – a licensed Illinois attorney, could face disciplinary action...
By Illinois ReviewOn Monday, former Illinois Gov. Rod Blagojevich, who remains a loyal and respected ally within President Donald Trump’s orbit – posted a statement on X urging...
By Jorge Lemus Encalada, Guest Contributor OpinionIt’s no secret that Illinois currently finds itself in the middle of an alarming housing crisis, characterized by availability and affordability issues.Sales...
By Illinois ReviewA new poll commissioned by Democratic members of Chicago’s City Council shows embattled Mayor Brandon Johnson with an unprecedented 15 percent approval rating – the lowest...
By Illinois Review It wasn’t that long ago when IL GOP leaders were endorsing Fl. Gov. Ron DeSantis’ failed presidential bid, hosting ‘Never Trumpers’ at fundraisers in Naples,...