The Bottom Line

JM Ashby
Written by JM Ashby

(Cartoonist - Adam Zyglis)

In other news, ABC News reports that special prosecutor Robert Mueller has already been investigating the link between Trump's campaign and Cambridge Analytica. Mueller's team has interviewed RNC staffers who worked with both the campaign and Cambridge.

Meanwhile, the Austin bomber was identified this morning as a 23-year-old white male who killed himself when authorities pulled him over on the highway. The suspect reportedly wrote blog posts opposing abortion and gay marriage.

Finally, the Federal Reserve raised interest rates this morning and is expected to raise rates at least two more times this year and possible three times in 2019. Notably, the Fed still expects the economy will slow down at some point next year when the initial stimulus of the GOP's tax cuts evaporates.

Fed officials raised their forecast for 2017 GDP growth from 2.5 percent in December to 2.7 percent, and increased the 2018 expectation from 2.1 percent to 2.4 percent.

However, growth is likely to cool after, with the 2020 forecast holding at 2 percent and the longer-run measure still at 1.8 percent.

  • Aynwrong

    Years ago I read a book that purported to be a true story but I always regarded it as pure fiction. It was called Confessions of an Economic Hitman. It was about agents of the United States government manipulating third world governments into indebting themselves to the US so we could control them. There might be a measure of truth to this theory but what the book described read like a cross between Graham Greene and an Oliver Stone fever dream. Reading about Cambridge Analytica makes me wonder if I’m the paranoid one.

    A 23 year old male worrying about gay marriage in 2018 is just pathetic. I can only imagine the rabid tweet storm from President Stupid (h/t Driftglass) had this terrorist been anything other than White. Ditto from the Fox News madhouse.

    If the American economy hasn’t already been irrevocably transformed into a ticking time bomb, it soon will be. Maybe a blue wave can prevent this. Maybe.

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