Source: Independent Institute
by Alexander William Salter
“Earlier this month, the Federal Reserve cut its interest-rate target by 25 basis points, or 0.25 percentage points, bringing the range down to 3.5–3.75 percent. This was no routine decision. It passed by a contentious 9–3 vote: two Federal Open Market Committee members wanted to hold the target rate steady, while Fed Governor Stephen Miran favored a larger 50-basis-point cut. Chairman Jerome Powell called it a ‘close call.’ What justified this controversial decision? According to the Fed’s official statement, policymakers judged that ‘downside risks to employment rose in recent months.’ The unemployment rate had ‘edged up’ to 4.4 percent through September, and job gains had slowed. But there’s an obvious problem: inflation remains above target.” (01/06/26)
“A federal judge on Tuesday ruled that several major medical organisations can move forward with their lawsuit challenging policies adopted under US Health Secretary Robert F. Kennedy Jnr that they say will lower vaccination rates. US District Judge Brian Murphy in Boston rejected arguments by lawyers for US President Donald Trump’s administration that the groups, including the American Academy of Pediatrics, lack legal standing to pursue the case because they could not show they were harmed by the policies. The lawsuit seeks to invalidate all votes cast since June by a key vaccine advisory panel whose members were hand-picked by Kennedy, who previously founded the anti-vaccine [sic] group Children’s Health Defense before becoming the head of the US Department of Health and Human Services.” (01/06/26)
“The American government has billed the dramatic capture and extradition of Venezuelan President Nicolás Maduro over the weekend as a law enforcement operation carried out with the support of the U.S. military. Now that Maduro is in custody, the United States intends to exert control of the country through (what the administration assumes will be) Maduro’s pliant vice president, whose primary task is to open up Venezuela’s nationalized oil production to American corporations. That’s the administration’s high-level story, at least. But as more context comes out, it gets less clear whether Maduro’s capture was a law enforcement action, a military operation, or some secret third thing.” (01/06/26)
“Protesters angry over Iran’s ailing economy conducted a sit-in Tuesday at Tehran’s Grand Bazaar, witnesses said, with security forces ultimately firing tear gas and dispersing demonstrators as the rest of the market shut down. The protest at the Grand Bazaar, the beating heart for centuries of both Iran’s economic and political life, represented the latest signal that the demonstrations likely are to continue as the rial currency fell to a record low Tuesday. Already, violence surrounding the protests has killed at least 36 people with authorities detaining more than 2,000 others, activists abroad say. Meanwhile, the situation was likely to worsen as Iran’s Central Bank drastically reduced the subsidized exchange rates for dollars it offers to importers and producers.” (01/07/26)
“As was the case the morning after ‘Shock and Awe’ signaled the start of the Iraq war, many are cheering the US military raid on Venezuela and capture of its president, Nicolas Maduro. Overwhelming US military power – and likely some bribed Venezuelan officials – ensured that the operation was swift and dramatic. This was not a war, we were told. It was just a surgical operation to remove a criminal dictator and restore democracy to the country. American oil companies would soon get even richer exploiting the country’s vast oil reserves. This time it will be different! If all of this sounds familiar that’s because it is the same narrative used each time the US has launched a ‘regime change’ operation this century.” (01/06/26)
“Stock indexes gained momentum in the final hours of trading Tuesday as both the Dow Jones Industrial Average and S&P 500 closed at new highs. … The Dow ended the day 1% higher, or nearly 485 points, and closed at a record high for a second session in a row. In addition, the blue-chip index, which gained 1.2% on Monday, closed Tuesday above 49,000 for the first time ever. … Meanwhile, the S&P 500 closed 0.6% higher, also a record. The Nasdaq composite gained 0.7%.” (01/06/26)
“Zohran Mamdani’s promise to bring ‘the resurgent flame of hope’ to ‘the January chill’ as mayor of a literally frozen New York City during his January 1 inaugural address got the cold shoulder from conservative commentators. Despite his vow to move the city to unity past ‘a tale of two cities, the rich versus the poor’ and highlighting constituents ‘who supported President Trump a year before they voted for me,’ some just aren’t buying Mamdani’s narrative. … Yet those red-baiting Mamdani’s ‘Red Apple’ could stand to scratch the surface and see how much the gilded apple of Trump Tower pokes through — and not just because he won’t be able to ‘deliver universal childcare for the many by taxing the wealthiest few’ if those fat cats pull up stakes.” (01/06/26)
“Ukraine’s allies agreed on Tuesday to provide key aspects of postwar security for the country in the event of a cease-fire with Russia, including a declaration by the leaders of France and Britain that they would commit troops to dissuadeRussia from invading again. President Emmanuel Macron of France and Prime Minister Keir Starmer of Britain signed an agreement with President Volodymyr Zelensky of Ukraine at a meeting in Paris of more than 30 European leaders and other members of the so-called Coalition of the Willing. The countries in it have committed to strengthening Ukraine’s security. In addition to the troop commitment, the agreement also said that the United States would lead an effort to monitor any eventual cease-fire, and that a special commission would be created to ‘address any breaches, attribute responsibility and determine remedies.'” (01/06/25)
