President Obama’s Auto Task Force Chairman Steven Rattner resigned suddenly earlier this week after reports that the New York Attorney General’s office was investigating Rattner’s role in a New York State pension bribery scandal.
“Consumer prices shot up in June by the largest amount in 11 months,” the Washington Post reported June 15, “reflecting the biggest jump in gasoline prices in nearly five years.” The 0.7 percent June increase in the Consumer Price Index represents an annual rate of more than eight percent as well as the first consumer symptom of the hyper-inflation the Federal Reserve created over the past year.
With plunging advertising revenue across the industry, McGraw-Hill is reportedly putting BusinessWeek up for sale. The company said only that it is exploring “strategic options” for the magazine so far, but according to sources cited in Bloomberg, The New York Times and The Wall Street Journal, investment bank Evercore Partners Inc., has been hired to facilitate the sale.
The Ludwig von Mises Institute’s Howard S. Katz has revealed that the Federal Reserve Bank has inflated the U.S. currency to unprecedented levels since September 2008 and that it is hiding the fact. Katz cited a Federal Reserve letter he received in response to an inquiry where the Fed admitted that its Open Market Committee stated it “has increased the Fed balance sheet to levels never before seen.”