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Fed's Goolsbee hopes US not moving to where monetary independence is questioned - CBS 'Face the Nation' ReutersChicago Fed President Austan Goolsbee says a move by Trump to terminate Jerome Powell would 'undermine the credibility of the Fed' FortuneFed's Goolsbee Warns Against Curbing Central Bank Independence Bloomberg.comChicago Fed's Goolsbee Has a Warning About Independence Barron's
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Chicago Fed President Austan Goolsbee says a move by Trump to terminate Jerome Powell would 'undermine the credibility of the Fed' FortuneFed's Goolsbee Warns Against Curbing Central Bank Independence Bloomberg.comFed's Goolsbee hopes US not moving to where monetary independence is questioned - CBS 'Face the Nation' ReutersTranscript: Chicago Fed president Austan Go
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With the congressional midterm elections only weeks away, here's how we think things will shake out.
In early spring, Republicans appeared well on their way to steamroll through the midterms and win back control of the House and Senate. Democrats were struggling to compete, weighed down by an unpopular president and sky-high inflation and gas prices.
But as the summer wore on, Democrats' prospects improved. Gas prices dropped, supply chain problems got better and the Supreme Court's decision to overturn Roe v. Wade energized their voters - all good news for the party. Some big-ticket Democratic bills that passed Congress in recent months also helped.
Meanwhile, several Republican candidates, particularly Senate hopefuls endorsed by former President Donald Trump, underwhelmed, both on the campaign trail and with fundraising. Senate Minority Leader Mitch McConnell (R-KY) even downplayed his party's chances of retaking the Senate, openly worrying about the "quality" of many GOP candidates.
On top of everything else, Trump's high-profile legal woes have been a drag on his party's midterm hopes.
SEE MORE Protect Your Retirement Income from Inflation
But momentum in politics is fickle and can swing back quickly. In recent weeks, Republican candidates have done better in midterm polls and improved on the campaign trail.
So it's increasingly likely that control of the next Congress in January will be split. We anticipate that Republicans still will take control of the House, though they'll likely net fewer seats in the 435-member chamber than we initially expected - 15, versus the 25 sea
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Many farmers are facing a critical retirement decision. The traditions of yesterday are often changing, and their children may no longer want to follow in their parents' footsteps. The challenges are many. However, there are options available.
In 1971, I began my farming career at the tender age of 9 in the Skagit Valley, 60 miles north of Seattle. Crop farming was my gig; rouging spinach, sorting tulips, picking strawberries, raspberries and cucumbers alongside the migrant workers from Mexico. When I was old enough, I was driving picking machines with a dozen kids lying on boards over a conveyor belt, or driving an open tractor pulling a green pea combine while traveling about 1 mile in four hours.
SEE MORE Keeping Property in the Family with LLCs and Partnerships
Today, at the age of 59, I realize that I've been preparing this article for 50 years. During 12-hour shifts on the open tractor, it rained, often. My family could not afford proper rain gear, so a plastic lawn bag with holes punched out for my head and arms provided quite well. Working six of these shifts every seven days gives a teenager time to reflect. That's when I decided farming was very hard and I wanted an easy office job someday!
Challenges for Farmers Today
A huge debt of gratitude is owed to the men and women who feed the world. You face unprecedented challenges:
Mother NatureInconsistent commodity prices
Lack of access to labor
Global competition with lower costs of operations
Lack of resources to compete with larger corporate farming technology
Next-generation (family) choosing a different career path
You are at an age where you need to slow down or retire completely
Potential income tax law changes
Inheritance and estat
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