Wall Street investors and economic analysts have reacted eagerly to every conceivable signal that the Federal Reserve will soon declare inflation defeated and stop tightening the money supply. The Biden administration would like to see an interest rate cut to boost the president’s flagging re-election prospects‚ even though Joe Biden and his supporters continually claim that the economy is quite peachy as is. Apparently‚ the liberal idea of perfectibility is still alive. Federal Reserve Chairman Jerome Powell‚ however‚ has been consistent in his message for months now: no change. Not now‚ and not soon. Far from the economy being overheated‚ several signs point to serious economic struggles and further contraction. The Fed argues that economic conditions are too good to merit a cut in interest rates and an end to its sales of securities‚ which tighten the money supply. The main thing we should be worried about is a resurgence of inflation‚ the Fed insists. “I don’t think it’s likely that the committee will reach a level of confidence by the time of the March meeting” to justify a relaxation of the money-tightening‚ “but that’s to be seen‚” the Wall Street Journal reported after Powell’s late-January news conference. The Fed’s latest minutes‚ released last week‚ confirm the Federal Open Market Committee does not intend to start reducing interest rates in March. In addition‚ “a few participants noted that the process of balance sheet runoff could continue for some time even after the Committee begins to reduce the target range for the federal funds rate‚” CNBC reported. Tightening spurs recession worries The Fed has been shrinking the money supply for nearly a year and a half — for the first time since 1949. There have been only four such contractions since the Fed was established in 1913‚ and all the others led to recessions. By early January‚ the Fed had already completed more than $1 trillion of monetary tightening through selling of securities‚ reducing its assets from their near-$9 trillion peak in May 2022 to $7.6 trillion today. That process will continue. In addition‚ bank reserves and overnight reverse repurchase agreements have both been declining since the middle of last year‚ signifying more money-tightening. The markets know this is destructive. The Fed’s January interest rate decision hit markets hard on the day it was announced. “Stock indexes ended lower Wednesday‚ with the S&;P 500 down 79.32 points‚ or 1.6%‚” the Wall Street Journal reported. “The index‚ which on Monday closed at an all-time high‚ registered its biggest decline since September. Yields on the 10-year Treasury note declined 0.091 percentage point to close at 3.965% after New York Community Bancorp reported a loss and slashed its dividend‚ igniting new jitters about the health of regional lenders.” The Fed did throw a bone to those hoping for lower interest rates‚ ending its guidance statement that it was more likely to raise rates than lower them. It has now adopted a neutral position that “the risks to achieving its goals of healthy labor markets and low inflation ‘are moving into better balance‚’” the Journal reported. But that was a very small bone‚ as indicated by the markets’ abrupt nosedive. Signs of trouble ahead Far from the economy being overheated‚ several signs point to serious economic struggles and imminent further contraction. U.S. job layoffs doubled in January. Food costs the average family a greater share of their income than at any time since the recession of 1990-1991. Retail sales collapsed in January. Manufacturing output decreased unexpectedly by 0.5% in that same month. Credit card debt hit another record high in the fourth quarter of 2023. Overall household debt likewise reached a record high‚ and delinquency rates increased. Home sales last year were the lowest in nearly three decades‚ and they are now down 6.2% from one year ago. Single-family housing starts fell in January. People cannot afford homes. Commercial real estate is in a historic slump. I could go on — unlike the economy itself. The Fed has supposedly been looking for signs that the economy is slowing down‚ as an indication that inflation will recede with the onset of economic pain. The signs of economic decline are plentiful‚ but the central bank’s governors somehow keep overlooking them. As a result‚ the Fed continues to claim that economic conditions are too good right now to merit a reversal of the money-tightening and that there is no need for artificial stimulation by the central bank. Well‚ yes: We never need artificial stimulation of the economy. Likewise‚ we never need artificial strangulation of the economy. The latter‚ however‚ is exactly what the Fed has been giving us for well over a year. If this ends well‚ it will be the first time that has ever happened. I would not bet on it.

The Department of Justice stated on Monday that Family Dollar Stores LLC pleaded guilty to keeping consumer products in what has been characterized as a "rodent-infested warehouse‚" according to CBS News.The statement said that the company admitted to holding medical devices‚ food‚ drugs‚ and cosmetics in filthy‚ unsanitary conditions. The statement went on to say that there were rodents in the company's distribution center in West Memphis‚ Arkansas.As a result‚ the company has agreed to pay $41.675 million‚ which the Department of Justice said was the largest monetary criminal penalty in a food safety case‚ per the report.Criminal details were unsealed in federal court on Monday‚ which said that Family Dollar has been charged with a single misdemeanor count of causing FDA-regulated products to become damaged by being held in unsanitary conditions‚ according to the New York Post.Acting Associate Attorney General Benjamin C. Mizer said: “When consumers go to the store‚ they have the right to expect that the food and drugs on the shelves have been kept in clean‚ uncontaminated conditions."“When companies violate that trust and the laws designed to keep consumers safe‚ the public should rest assured: The Justice Department will hold those companies accountable.”Family Dollar and Dollar Tree are now required to meet strict corporate compliance and reporting requirements for the next three years.“Consumers trust that products purchased from retail stores such as Family Dollar are safe‚” U.S. Attorney Jonathan D. Ross for the Eastern District of Arkansas said. “It is incomprehensible that Family Dollar knew about the rodent and pest issues at its distribution center in Arkansas but continued to ship products that were unsafe and insanitary.”The Arkansas warehouse continued to ship products until January 2022‚ when an FDA inspection discovered live rodents‚ dead and decaying rodents‚ and even rodent feces throughout the facility. Around 1‚300 rodents were ultimately exterminated‚ and the company launched a massive recall on products sold by 404 of its stores."When I joined Dollar Tree's board of directors in March 2022‚ I was very disappointed to learn about these unacceptable issues at one of Family Dollar's facilities‚" Dollar Tree Chairman and CEO Rick Dreiling said in a company release. "Since that time and even more directly when I assumed the role of CEO‚ we have worked diligently to help Family Dollar resolve this historical matter and significantly enhance our policies‚ procedures and physical facilities to ensure it is not repeated." Like Blaze News? Bypass the censors‚ sign up for our newsletters‚ and get stories like this direct to your inbox. Sign up here!

What’s happened in New York against former President Donald Trump is a blatant violation of the Eighth Amendment‚ and Mark Levin is going to prove it. The Eighth Amendment reads: “Excessive bail shall not be required‚ nor excessive fines imposed‚ nor cruel and unusual punishments inflicted.” In a case from 2019 between Tyson Timbs and the state of Indiana‚ the standard was set for the United States‚ as well as the state court‚ on what it can and cannot do regarding the Eighth Amendment. Timbs had pleaded guilty in Indiana State Court to dealing in a controlled substance and conspiracy to commit theft. The response was completely disproportionate to his crimes. At the time of his arrest‚ the police seized a Land Rover SUV Timbs had purchased for $42‚000 with money he received from an insurance policy when his father died. The Indiana trial court denied the state’s request to turn over his $42‚000 car‚ determining that it would be grossly disproportionate to the gravity of Timb’s offense‚ and therefore unconstitutional under the Eighth Amendment’s excessive fines clause. “It was a nine to zero decision‚ not a single justice agreed with the state prosecutors and the state government‚ not one. The majority opinion had seven bipartisan justices. There were two concurring opinions‚ but they all agreed that it violated the Eighth Amendment‚” Levin explains. The Supreme Court ruled that these fines undermine other liberties and can be “used to retaliate against or chill the speech of political enemies.” “In other words‚ that case that was brought against Donald Trump should never have been brought. There shouldn’t even have been a sentencing hearing‚ there shouldn’t have been fines‚ there shouldn’t have been anything‚” Levin remarks. “This case against Donald Trump is a greater‚ more grave violation than anything we’ve ever seen under the excessive fines part of the Eighth Amendment‚ and much worse than the Timbs' case‚” he adds. Want more from Mark Levin?To enjoy more of "the Great One" — Mark Levin as you've never seen him before — subscribe to BlazeTV — the largest multi-platform network of voices who love America‚ defend the Constitution‚ and live the American dream.

Alert: This article contains spoilers for the 2024 movie "Argylle."With the likes of "X-Men: First Class‚" "Kick-Ass‚" and the "Kingsman" series‚ director Matthew Vaughn has established himself as a trusted source of stylishly retro‚ over-the-top action movies. Fans expect Vaughn to depart from cookie-cutter formula while still delivering the requisite thrills. The divided reaction to his latest foray into the "spy-fi" genre suggests he may have strayed too far. Anyone expecting "Argylle" to be the film that finally gives Henry Cavill his due will be disappointed. "Argylle" follows acclaimed spy novelist Elly Conway (Bryce Dallas Howard)‚ who‚ hot off the heels of releasing her latest “Argylle” novel‚ is struggling to find the story for the next installment. Writer's block becomes the least of her worries when she’s pursued by a shady real-life spy group called Division‚ which has noticed that Elly has perfectly predicted its criminal plots in her books. To the rescue is Aiden Wilde (Sam Rockwell)‚ a witty CIA spy tasked with protecting her. Rockwell and Howard have good chemistry together‚ just as the marketing promises. But "Argylle" short-changes us with the shockingly meager screen time it gives to Henry Cavill as the titular character. While Hollywood often struggles with how to use Cavill (see his recent unceremonious ouster as Superman)‚ his excellent performances in "Mission: Impossible‚" "Enola Holmes‚" and multiple Guy Ritchie films have made him a fan favorite. Anyone expecting "Argylle" to be the film that finally gives the talented performer his due will be disappointed. That said‚ the action sequences are wildly entertaining‚ set to either fist-pumping throwback jams or sensual love ballads to varying degrees of cringe and cool‚ including the original song “Electric Energy.” Where "Argylle" stumbles are its twists: There are just too many of them. The film’s pivotal reveal is that Elly Conway has been basing Argylle's adventures on the repressed memories of her own spy career‚ under her real name Rachel Kylle (R. Kylle). Her writer's block stems from the fact that her latest "story" is playing out in real time. This twist alone makes for a compelling story‚ but its impact is bogged down by several more “gotcha” moments that feel like jokes with little relevance to the plot. The result is an adrenaline rush of action and spectacle that often verges on the cartoonish. Still‚ trying a little too hard is preferable to the usual playing it safe‚ and "Argylle" is immense fun despite its flaws. The pressures of blockbuster moviemaking can often neutralize the qualities that make a director unique. For better or worse‚ Matthew Vaughn has held on to his signature style‚ and it's on full display in "Argylle."

A deranged anti-Semite from El Salvador dragged her son into Joel Osteen's Houston-area megachurch on Feb. 11 and began shooting wildly. Genesse Moreno's attempted massacre was swiftly thwarted by a 28-year-old off-duty Houston Police Department officer and a 38-year-old Texas Alcoholic Beverage Commission officer. The Houston Police Department released footage of the incident Monday‚ showing Genesse Moreno's incursion into Lakewood Church and her confrontation with the heroes therein. Surveillance footage outside the church shows Genesse Moreno — who sometimes called herself Jeffrey Escalante — pull her 7-year-old son Samuel out of a white SUV‚ then march over to an entrance just ahead of the church's 2 p.m. Spanish-language service‚ dressed in a trench coat and carrying a backpack. Another view shows multiple people peaceably mingling in a hallway on the west side of the church scatter in response to the crackle of gunfire. While churchgoers and others run for cover‚ HPD Officer Christopher Moreno rushes toward the commotion. The shooter‚ who can be seen from another vantage ignoring the pleas and outstretched arms of her son‚ fires at Officer Moreno‚ prompting him to respond in kind‚ then take cover inside a doorway off the hallway. Genesse Moreno continues marching forward with rifle in hand‚ passing the officer — who has been on the force since January 2023. According to HPD Assistant Chief Keith Seafous‚ the shooter attempted to enter the sanctuary‚ but the entrance doors were fortunately locked. Footage shows TABC Officer Adrian Herrera‚ working security for the church at the time‚ approach the shooter from the rear with his handgun drawn and at least three other individuals in tow. Genesse Moreno can be observed taking notice of the armed presence behind her and opening fire‚ nearly striking Herrera. After Herrera answered back with his duty weapon‚ Moreno began to rifle through her backpack on the ground. The Houston Chronicle indicated that at the time‚ she had sprayed substances on the floor‚ which Houston Fire Chief Samuel Peña later determined were not hazardous. Officer Moreno's bodycam footage captures the shooter announcing‚ "There's a bomb in this bag. Stop shooting." Security pleads with the shooter to drop her weapon‚ but she refuses‚ yelling‚ "The bomb is gonna go off." The shooter reiterates‚ saying‚ "I will blow up the whole f***ing place." — (@) While Genesse Moreno appeared to be preparing the next phase of her attack‚ Herrera continued his advance‚ ultimately dropping the shooter with a decisive shot. After floundering on the ground for a moment near her supposed explosive device‚ Moreno stiffened. In the exchange‚ 7-year-old Samuel was shot in the head. HPD Officer Garcia‚ whose body camera captured some of the chaos surrounding the incident‚ can be seen running up to the wounded child and praying over his body. "Father God‚ please bring him close to you‚" says Garcia. "Please bring him close to you." On her way over to the gun battle‚ Garcia had similarly prayed‚ "Father God‚ just be with us. Forgive us our sins." Uncertain whether the shooter had a bomb‚ the officers dragged the shooter's child to safety‚ then cautiously approached. Walli Carranza‚ the boy's grandmother‚ indicated over the weekend that Samuel was recently removed from a ventilator and is now breathing on his own but nevertheless remains in critical condition. Tom George Thomas‚ the 57-year-old volunteer at the church who caught a bullet to the hip during the incident‚ was released from a hospital in stable condition the day after the shooting. Blaze News previously noted that Genesse Moreno had multiple run-ins with the law prior to shooting up Lakewood Church. She was slapped with charges for drug possession‚ assault‚ illegal possession of a weapon‚ resisting arrest‚ and forgery. Houston Homicide Commander Christopher Hassig indicated that the gender-bending shooter was also temporarily detained in 2016 over mental health concerns and had a history of mental illness. According to Genesse Moreno's former mother-in-law‚ Rabbi Walli Carranza‚ the shooter was a schizophrenic who had been diagnosed with Munchausen by proxy. Moreno allegedly harmed her child more than once and had been the subject of multiple child protective services investigations. Genesse Moreno had also at one time lost custody of her child but apparently regained it in 2022. Police indicated early in their investigation that they had discovered some of the shooter's "anti-Semitic writings." Her neighbors spoke of repeated threats‚ Nazi salutes‚ and in one instance‚ the shooter painting a swastika on a nearby resident's fence. Carranza told the New York Times that Genesse Moreno was a practicing Muslim who frequently targeted her Jewish in-laws with "very anti-Semitic" rants that "were very profane and ... horrible." Police have not yet confirmed a motive for the attack. Like Blaze News? Bypass the censors‚ sign up for our newsletters‚ and get stories like this direct to your inbox. Sign up here!

A Los Angeles Superior Court judge has ruled that a lawsuit against ABC will go to trial after the network was accused of wrongfully dismissing two TV crew members who requested a COVID-19 vaccine exemption on religious grounds.The father-son duo of James Wahl and Timothy Wahl sued ABC in 2021 after they were fired despite both having worked on the network's daytime serial "General Hospital" for more than a decade each. They ran the construction shop and special effects department for the show‚ which has been on the air for over 60 years. The crew members asked for an exemption for the COVID-19 vaccination — which ABC had mandated — based on religious grounds‚ but the network fired them just one week after their request.According to their original complaint‚ ABC "denied almost all such requests during 2021" and "gave no reason for its decision" while questioning the pair's sincerity in their religious belief. "These actions were unlawful. ABC does not have the authority to force a medical treatment on its employees against their will‚" the complaint read.Judge Stephen I. Goorvitch denied ABC's motion to dismiss the suit‚ however‚ and said that "the jury‚ not the judge‚ must resolve whether Plaintiffs [the Wahls] had genuine religious beliefs."The judge also questioned whether the Disney-owned network could have "reasonably accommodated [the Wahls] without posing an undue hardship‚" Variety reported.In addition‚ Judge Goorvitch noted that despite ABC claiming it would have been unsafe for the unvaccinated crew members to work on the show‚ they would not be around other people for very long and were also put through routine testing."Defendant argues that Plaintiffs could not have been accommodated because they could not maintain a distance of six feet from others. Interpreting the record in the light most favorable to Plaintiffs‚ however‚ they were only in close proximity to others for between 30 seconds to several minutes while Plaintiffs were masked and testing regularly and the people with whom they had contact were vaccinated."The judge pointed to the fact that the defendant's own evidence suggested that the company felt the vaccines were highly effective‚ which raised the question as to whether or not the Wahls actually posed a risk to fellow employees.ABC argued that the "highly contagious Delta variant of the virus was prevalent" at the time and thus a risk still existed.The legal complaint stated that ABC/Disney had "ignored" previously upheld "policies and procedures" surrounding religious beliefs that the compoany said once went to great lengths to accommodate people's beliefs and medical conditions.The Superior Court judge set the trial date for March 11‚ 2024. The case could set a landmark precedent if the Wahls are found to have been wrongfully dismissed.Like Blaze News? Bypass the censors‚ sign up for our newsletters‚ and get stories like this direct to your inbox. Sign up here!

What are the Alone in the Dark system requirements? This returning IP was once a huge name in the games industry‚ but now it's turning to Lovecraftian inspiration to bring forth terror to a new generation. However‚ getting it running on your gaming PC will be far from a fear-inducing experience. Aiming to be one of the best horror games on PC‚ Alone in the Dark doesn't demand the best graphics card for any of the current system requirement levels. Continue reading Alone in the Dark system requirements MORE FROM PCGAMESN: The best horror games‚ Alone in the Dark release date‚ Alone in the Dark system requirements

Amnesia The Bunker was one of the best pure horror experiences of last year. It came up against giants like Resident Evil 4‚ Dead Space‚ and Alan Wake 2‚ but Frictional Games’ immersive sim take on the long-running series was by far the scariest game I played in 2023. It’s just you‚ a spooky WW1 bunker with items to aid your survival‚ and a monster. If you haven’t played it yet‚ the game is currently having its biggest Steam sale ever‚ and I can’t recommend it enough. Continue reading 2023’s best horror game is having its biggest Steam sale yet MORE FROM PCGAMESN: Best horror games‚ Best indie games‚ Best war games

If you are hoping to see Helldivers 2 DLSS support make its way to the game anytime soon‚ you will need to adjust your expectations following comments made by its developer. However‚ your hopes of adding upscaling to your arsenal against the Automatons and Terminids are not entirely quashed. Continue reading Helldivers 2 dev loves DLSS‚ but will always prioritize “more content” MORE FROM PCGAMESN: GeForce RTX 4070 Super review‚ DLSS explained‚ Best graphics cards

As a lifetime strategy game disciple‚ 2024 is genuinely starting to worry me now. Ara History Untold is on the way. Likewise Millennia‚ Frostpunk 2‚ and Manor Lords. We’ve already had the superb Solium Infernum‚ and of course‚ there are still distant rumblings of Civilization 7. My life is about to be consumed by technology trees‚ tile-based conquest‚ military management‚ and diplomacy. And now another of Steam’s greatest strategy games‚ from the publisher behind Ixion‚ City of Gangsters‚ and Warhammer 40k: Mechanicus‚ is getting a sequel. 2024 is truly the year of the RTS‚ the 4X‚ and the management game. Continue reading One of the best strategy games on Steam is finally getting a sequel MORE FROM PCGAMESN: Best strategy games‚ Best management games‚ Best city building games