{"id":1625635,"date":"2022-08-29T12:33:52","date_gmt":"2022-08-29T16:33:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1625635"},"modified":"2022-08-29T12:34:38","modified_gmt":"2022-08-29T16:34:38","slug":"conservatives-blast-associated-press-for-highlighting-diverse-federal-reserve-leadership-while-economy-flounders","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/conservatives-blast-associated-press-for-highlighting-diverse-federal-reserve-leadership-while-economy-flounders\/","title":{"rendered":"Conservatives Blast Associated Press For Highlighting \u2018Diverse\u2019 Federal Reserve Leadership While Economy Flounders"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fconservatives-blast-associated-press-for-highlighting-diverse-federal-reserve-leadership-while-economy-flounders%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1625635&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Conservatives torched the <a href=\"https:\/\/www.dailywire.com\/topic\/associated-press\">Associated Press<\/a> for lauding <a href=\"https:\/\/www.dailywire.com\/topic\/diversity-equity-and-inclusion-dei\">diverse<\/a> leadership at the <a href=\"https:\/\/www.dailywire.com\/topic\/federal-reserve\">Federal Reserve<\/a> as the <a href=\"http:\/\/dailywire.com\/topic\/economy\">economy<\/a> suffers.<\/p>\n<p>The outlet published an <a href=\"https:\/\/apnews.com\/article\/inflation-united-states-jackson-wyoming-economy-935581a0036858b89bcb2ca6c72b498d?taid=630a5406c8bbbb00018f3dd2&amp;utm_campaign=TrueAnthem&amp;utm_medium=AP&amp;utm_source=Twitter\">article<\/a> \u2014 \u201cFed tackles inflation with its most diverse leadership ever\u201d \u2014 following the central bank\u2019s annual summit in Jackson Hole, Wyoming, at which Federal Reserve Chair Jerome Powell <a href=\"https:\/\/www.dailywire.com\/news\/jerome-powell-vows-to-restore-price-stability-even-though-federal-reserve-must-first-bring-some-pain\">doubled down<\/a> on policymakers\u2019 commitment to battle runaway inflation. Among other changes, three women and three African-Americans have recently joined the 19-member committee responsible for determining interest rate policies.<\/p>\n<p>\u201cThere are more female, Black and openly gay officials contributing to the central bank\u2019s interest-rate decisions than at any time in its 109-year history,\u201d the AP reported. \u201cMany are also far less wealthy than the officials they have replaced. Over time, economists say, a wider range of voices will deepen the Fed\u2019s perspective as it weighs the consequences of raising or lowering rates. It may also help diversify a profession that historically hasn\u2019t been seen as particularly welcoming to women and minorities.\u201d<\/p>\n<p>Meanwhile, the United States met the rule-of-thumb definition of a recession \u2014 two consecutive quarters of negative growth \u2014 last month as the economy <a href=\"https:\/\/www.dailywire.com\/news\/united-states-economy-shrinks-in-the-first-part-of-2022\">shrank<\/a> at a 1.5% annualized rate in the first quarter and <a href=\"https:\/\/www.dailywire.com\/news\/u-s-in-a-recession-after-second-straight-quarter-of-negative-growth\">contracted<\/a> at a 0.6% pace in the second quarter.<\/p>\n<p>\u201cWell, they\u2019re doing a bang-up job,\u201d Daily Wire Editor Emeritus Ben Shapiro remarked, noting that \u201cstupid people\u201d would make the argument, \u201cSure, inflation is at a 40-year-high, but doesn\u2019t it make you feel better that those in charge are sexually and ethnically diverse?\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">&#8220;Sure, inflation is at a 40-year-high, but doesn&#8217;t it make you feel better that those in charge are sexually and ethnically diverse?&#8221; \u2014 Stupid people<\/p>\n<p>\u2014 Ben Shapiro (@benshapiro) <a href=\"https:\/\/twitter.com\/benshapiro\/status\/1564076907280334854?ref_src=twsrc%5Etfw\">August 29, 2022<\/a><\/p>\n<p>\u201cFinally a compelling explanation for why our economy is doing so well,\u201d Blake Masters, the Republican nominee for Arizona\u2019s open seat in the Senate, remarked.<\/p>\n<p lang=\"en\" dir=\"ltr\">Finally a compelling explanation for why our economy is doing so well <a href=\"https:\/\/t.co\/Ub2CeiyjCs\">https:\/\/t.co\/Ub2CeiyjCs<\/a><\/p>\n<p>\u2014 Blake Masters (@bgmasters) <a href=\"https:\/\/twitter.com\/bgmasters\/status\/1564086031246311427?ref_src=twsrc%5Etfw\">August 29, 2022<\/a><\/p>\n<p>\u201cPerhaps the Fed should care more about the disaster that is the U.S. economy and far, far less about having \u2018more female, Black and gay officials\u2019 at the helm?\u201d Mollie Hemingway, editor-in-chief of The Federalist, commented.<\/p>\n<p lang=\"en\" dir=\"ltr\">Perhaps the Fed should care more about the disaster that is the U.S. economy and far, far less about having &#8220;more female, Black and gay officials&#8221; at the helm? <a href=\"https:\/\/t.co\/QBmO781jb1\">https:\/\/t.co\/QBmO781jb1<\/a><\/p>\n<p>\u2014 Mollie (@MZHemingway) <a href=\"https:\/\/twitter.com\/MZHemingway\/status\/1564034742168829953?ref_src=twsrc%5Etfw\">August 28, 2022<\/a><\/p>\n<p>\u201cInflation is the worst it\u2019s been in decades while the Federal Reserve is the most diverse it has ever been. This\u2026 is not an argument in favor of more diversity,\u201d Daily Wire commentator Matt Walsh added.<\/p>\n<p lang=\"en\" dir=\"ltr\">Inflation is the worst it&#8217;s been in decades while the Federal Reserve is the most diverse it has ever been. This\u2026 is not an argument in favor of more diversity. <a href=\"https:\/\/t.co\/jCjDTUHXAZ\">https:\/\/t.co\/jCjDTUHXAZ<\/a><\/p>\n<p>\u2014 Matt Walsh (@MattWalshBlog) <a href=\"https:\/\/twitter.com\/MattWalshBlog\/status\/1564076347873546241?ref_src=twsrc%5Etfw\">August 29, 2022<\/a><\/p>\n<p>According to the <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">Bureau of Labor Statistics<\/a>, year-over-year inflation reached 8.5% in July 2022, with a slight moderation from the 9.1% reading in the previous month <a href=\"https:\/\/www.dailywire.com\/news\/white-house-starts-victory-lap-amid-slightly-less-dismal-inflation-reading\">driven<\/a> by lower energy prices \u2014 even as costs for food, new vehicles, medical care, and shelter continue to rise. Powell said at Jackson Hole that the Federal Reserve still intends to reduce inflation to 2% \u2014 the rate maintained by policymakers for most of the past three decades.<\/p>\n<p>\u201cPrice stability is the responsibility of the Federal Reserve and serves as the bedrock of our economy,\u201d Powell said. \u201cWithout price stability, the economy does not work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all. The burdens of high inflation fall heaviest on those who are least able to bear them.\u201d<\/p>\n<p>Powell warned that the Federal Reserve\u2019s contractionary monetary policy would induce economic headaches as borrowing costs rise for consumers and businesses. Officials <a href=\"https:\/\/www.dailywire.com\/news\/federal-reserve-hikes-interest-rates-again-to-combat-bidenflation\">announced<\/a> interest rate hikes of 0.75% twice in the past two months such that rates are currently pegged between 2.25% and 2.5%.<\/p>\n<p>President Joe Biden has emphasized a \u201ctotal transformation of government\u201d centered upon diversity, equity, and inclusion \u2014 a policy that has <a href=\"https:\/\/www.dailywire.com\/news\/biden-admin-unleashes-total-transformation-of-government-with-equity-action-plans\">impacted<\/a> appointment decisions.<\/p>\n<p lang=\"en\" dir=\"ltr\">A Cabinet that looks like America. <a href=\"https:\/\/t.co\/XZNOSTE2GJ\">pic.twitter.com\/XZNOSTE2GJ<\/a><\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1377792787211505666?ref_src=twsrc%5Etfw\">April 2, 2021<\/a><\/p>\n<p>Treasury Secretary Janet Yellen, for instance, <a href=\"https:\/\/www.dailywire.com\/news\/treasury-department-appoints-first-counselor-for-racial-equity\">tapped<\/a> her department\u2019s first \u201ccounselor for racial equity\u201d at the end of last year. \u201cThe American economy has historically not worked fairly for communities of color,\u201d Yellen argued. \u201cThe pandemic threw a spotlight on this inequity; people of color were often the first to lose their jobs and businesses.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Conservatives torched the Associated Press for lauding diverse leadership at the Federal Reserve as the economy suffers. The outlet published an article \u2014 \u201cFed tackles inflation with its most diverse leadership ever\u201d \u2014 following the central bank\u2019s annual summit in Jackson Hole, Wyoming, at which Federal Reserve Chair Jerome Powell doubled down on policymakers\u2019 commitment &#8230;<\/p>\n","protected":false},"author":1,"featured_media":537529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1625635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1625635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1625635"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1625635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/537529"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1625635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1625635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1625635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}