The Bank of Russia has begun selling significant portions of its gold reserves to address a widening budget deficit, exacerbated by diminished oil and gas revenues. Approximately 22 tons of gold have been sold since the start of 2026, with gold reserves falling to 74.1 million troy ounces by April 1st. This strategy aligns with practices seen in other developing countries facing similar financial pressures, including increased government spending and the need to maintain currency stability. The sales are occurring on the domestic market, mirroring the Ministry of Finance’s management of the National Wealth Fund and offering liquidity during a period of global economic uncertainty.
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Mayor Zohran Mamdani, during his appearance on “CBS Mornings,” asserted that democratic socialist policies, focused on worker uplift, have broad appeal beyond urban centers. He highlighted his administration’s accomplishments in its first 100 days, including securing funding for universal childcare, holding landlords accountable for repairs and fines, and returning money to workers and small businesses. Mamdani believes his platform’s success should be judged by its delivery of tangible benefits to the working class, arguing this approach can flourish nationwide as working people constitute the country’s majority. This perspective aligns with research suggesting broad public agreement on policies that improve daily life, countering the notion of deep political division.
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A recent Federal Reserve study indicates that tariffs implemented by the Trump administration are solely responsible for the observed increase in consumer and household goods prices. The study found these tariffs have raised core goods prices by 3.1 percent, with retailers passing the costs along the supply chain. This suggests that without these tariffs, price increases would have fallen below pre-pandemic trends, contradicting claims that foreign entities would bear the burden of these duties.
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The US service sector has shown signs of cooling in March, a development that coincides with a concerning uptick in inflation. This economic slowdown in a crucial sector of the economy, coupled with rising prices, paints a complex picture, especially as global geopolitical tensions, particularly the Iran war, add another layer of uncertainty. It’s a scenario where the anticipated economic momentum seems to be faltering, while the cost of living continues to climb, creating a challenging environment for many households.
The notion that inflation alone is the primary issue might be an oversimplification of the current economic landscape. Some perspectives suggest we are actually grappling with a more formidable challenge: stagflation.… Continue reading
Recent data reveals a significant cooling in the US labor market, with businesses hiring at their slowest pace in 15 years, excluding the initial pandemic period. The hires rate dropped to 3.1% at the end of February, the lowest since April 2020, and a steeper decline than seen outside the pandemic since 2016. This slowdown, coupled with a dip in job openings and a decrease in voluntary quits, suggests a near halt in the “churn” necessary for a healthy economy, even before the Middle East conflict’s potential impacts. Concerns are amplified by the conflict’s effects on input costs, potentially forcing companies to consider price hikes or workforce reductions.
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The article scrutinizes Donald Trump’s promises made during his 2024 presidential campaign, specifically concerning border security, foreign intervention, and economic improvement. It argues that his actions have contradicted these promises, citing increased prices for goods and gas, job losses during his tenure, and a historical trend of economic underperformance under Republican presidents compared to Democrats. The author contends that tax cuts benefiting the wealthy, rather than the general population, have exacerbated debt and contributed to economic crises.
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This historical trend of tax reduction for the wealthiest Americans, coupled with preferential tax treatment for investments, has led to significantly lower effective tax rates for them compared to average citizens. Corporate tax rates have also been drastically cut, further benefiting affluent individuals who own substantial stock market wealth. These tax policies, alongside other economic factors, have exacerbated economic inequality, with the richest 1% holding assets comparable to the bottom 90%. Despite widespread public support for increasing taxes on the wealthy and addressing wealth inequality, political discourse and policy continue to be heavily influenced by large financial contributions, particularly to the Republican party.
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The Federal Reserve recently held its ground, keeping interest rates unchanged while also forecasting higher inflation. This decision has stirred quite a bit of commentary, particularly around the phrasing of headlines that suggest the Fed is acting “despite” inflation. Many observers point out that this framing misses the crucial connection: it’s precisely *because* of higher inflation that the Fed *must* keep rates steady, or even consider raising them. Lowering rates, in this context, would only fuel the inflationary fire further.
It’s almost as if the public is peering into the Fed’s operations expecting precise control, like pilots in a cockpit. However, the reality feels more like individuals adjusting a thermostat that isn’t actually connected to the heating system.… Continue reading
February’s inflation data significantly exceeded Wall Street expectations, with Producer Price Index (PPI) figures coming in 0.7 percent month-over-month and 0.5 percent higher year-over-year than estimated. This unexpected surge in inflation, coupled with recent weak job creation and economic growth, points towards a concerning economic scenario. The combination of rising prices, high unemployment, and stagnant growth strongly suggests that stagflation is either imminent or has already begun.
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In an era where the administration challenges established institutions like the Court and Congress, independent reporting serves as a crucial bulwark against misinformation. These journalists bravely ask difficult questions, ensuring that vital truths are not suppressed. Membership is presented as the essential financial support that empowers this courageous pursuit of accuracy, directly defending both truth and democracy.
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John Q. Hosedrinker 
Matt Underwood