Category: Business & Economy

There is good news and bad news regarding President Trump’s nomination of Judy Shelton for one of the two vacant positions on the Federal Reserve Board of Governors. 

The laser-like focus on consumer spending as the driver of economic health is largely the result of the government’s premiere measure of the economy: the Gross Domestic Product (GDP). Significant flaws in how GDP is measured, however, not only make it a misleading indicator, but have led to erroneous conclusions about what makes the economy tick. Such errors lead to extremely costly and damaging public policies.

Borden Dairy Company filed for Chapter 11 bankruptcy on Monday amid rising milk prices and what court filings described as an “unsustainable” debt pile, reported Bloomberg. 

More Americans are getting priced out of purchasing homes than ever, as soaring prices continue to outpace wages, according to a new report.