On Wednesday, the Federal Reserve released the minutes of the September 25-26 quarterly meeting of the Federal Open Market Committee (FOMC). The summary showed that officials anticipate the meeting’s (quarter percent) rate hike to the central bank’s benchmark federal funds rate target to be followed by another increase at the end of the year, and at least three more in 2019. … [Read more...] about Fed wisely continues rate hikes amid criticism from President Trump
Alex Benson Articles
Early this week, in an interview with 60 Minutes, President Donald Trump remained noncommittal about whether he would impose sanctions on Saudi Arabia as punishment for the alleged killing of Saudi-born Washington Post Journalist Jamal Khashoggi. The President cited concerns over the economic impact of cancelling arms sales to the Kingdom, and other measures, saying, “From the … [Read more...] about Saudi retaliation to potential US sanctions could further sink tech stocks
By the late 1960s, the everyman’s vision for the future of air travel looked very different than the reality of today; and his vision was not unfounded. In July of 1969, Apollo 11 had landed two astronauts on the surface of the moon, and the Concorde 001 had completed its first successful test flight. Mankind was spreading out into the stars, and it was thought we would soon … [Read more...] about New supersonic flight regulatory framework sought in $97 billion FAA reauthorization bill
It might be the greatest achievement in human history, and yet so few have ever heard it. Global extreme poverty (defined by the United Nations as living on less than $1.90 a day), has been nearly eradicated. As recently as 1990, 32 percent of the world’s population subsisted on less than $1.90 a day. In 2005, the number was 20 percent. Now, the World Bank reports that as of … [Read more...] about Thanks to capitalism, world poverty potentially eradicated in twenty years?
This op-ed was written by NEWSREP guest author, Alex Benson. Part 1 can be read here. Spending $3.2 trillion a year on a new entitlement program will not save money, even if we zero out all private spending on healthcare. The claim that spending such a massive sum amounts to savings stems from a misinterpretation of a recent Mercatus Center study, and an inane failure to … [Read more...] about Opinion: Why a $36 trillion Medicare-for-all plan won’t save us money (Part 2)
Governments have always more or less held to political satirist P.J. O’Rourke’s dictum that “It’s better to spend like there’s no tomorrow than to spend tonight like there’s no money.” Recently, however, some truly outlandish proposals have become mainstream in both political parties. These policies make one wonder whether today’s politicians misinterpreted O’Rourke’s humor as … [Read more...] about Opinion: Why a $36 trillion Medicare-for-all plan won’t save us money (Part 1)
In the past two years, President Trump has enacted tariffs on $16 billion worth of Chinese and Canadian goods. Predictably, the Canadians countered with $12.6 billion in retaliatory duties against US exports. The Chinese followed. In addition, in his most sweeping action to date, the president slapped a 25 percent tariff on all foreign steel and a 10 percent tariff on aluminum … [Read more...] about Economic outlook: President Trump should learn from history