Trump and the Fed: Who Cares?

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I would just like to say that if a quarter of a point in interest rates either way has even the slightest effect on the economy, then we’re in big trouble. L’affaire Fed is much ado about nothing. It will have nothing more than the most marginal impact on the real-world economy.

It’s remarkable that this whole thing is getting the attention it has. In the short-term, the medium-term, and the long-term, the question of whether policy rates right now are at 2 percent or 2.25 percent makes absolutely no difference.

DEMOCRACY DOES NOT EXIST...

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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