Schaftlein Report | Federal Reserve says higher Rates for Longer
Guest Tom Amenta
1) Chairman Powell says Inflation is still too high and unemployment rates may go up to 4.5%.
1A) Sen. Elizabeth Warren goes off the rails in Senate testimony condemning the Federal Reserve’s plan to fight inflation
2) Only 21% of U.S. households can afford homes currently listed for sale defined as 30% of median income for house payments. In 2021 that was 40%.
2A) Cost of housing is up 32% since the pandemic even with a 12% decline from the peak.
2B) The 30 year fixed has gone from 2.9% in 2021 to 5.34% in 2022 and 6.8% in 2023
2C) We have 2 job openings for every applicant.
2D) Car loans are now going out 7 years
3) Washington D.C. city Counsel pulls bill to weaken sentences for serious crimes after Congress turns up the heat. It furthers the narrative that Democrats are soft on crime.
4) An Antifa mob attacked an Atlanta police facility and 35 were arrested on domestic terrorism charges. All but 2 were from out of state.
5) Biden administration is pushing China to NOT supply weapons to Russia. Battles rage on in Ukraine and both sides are losing significant casualties.
6) In Politics, Biden approval is at 46% however just 37 % of Democrats want him to run for reelection. What are the alternatives?
6A) Sen. Fetterman still hospitalized for depression.
6B) Gov Larry Hogan will NOT seek the Republican nomination.
7) In the classified document investigations, both Democrats and Republicans claim the FBI is withholding information.