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Board of Governors: Minutes of the Federal Open Market Committee June 14–15, 2022; Consumer Price Inflation Remained Elevated
Total nonfarm payroll employment rose solidly in April and May, though the pace of increase was slower than in the first quarter, and the unemployment rate remained unchanged at 3.6 percent. The unemployment rates for African Americans and for Hispanics were little changed, on net, though both rates remained noticeably higher than the national average. On net, the labor force participation rate edged down between March and May, while the employment-to-population ratio was unchanged. The private-sector job openings rate, as measured by the Job Openings and Labor Turnover Survey, edged lower in April but remained at a high level. Nominal wage growth remained elevated, with average hourly earnings having risen 5.2 percent over the 12 months ending in May, and the increases were widespread across industries. Consumer price inflation remained elevated. Total PCE price inflation was 6.3 percent over the 12 months ending in April, and core PCE price inflation, which excludes changes in consumer energy prices and many consumer food prices, was 4.9 percent over the same period. more »
Jo Freeman's Review of Wilma Mankiller: How One Woman United the Cherokee Nation and Helped Change the Face of America
Wilma Pearl Mankiller had a life of many achievements and many difficulties. She gained fame as the first female Principal Chief of the Cherokee Nation. She also endured many health problems and hit a few brick walls. Her life has been a popular topic. This is just one of many biographies, in addition to Mankiller’s autobiography... While Wilma was a first, her career gives the author ample opportunity to discuss the role of gender in the Cherokee Nation. Suffice it to say that women as a group had more power than in the larger white society, but less independence. For more on this, you’ll have to read the book. more »
Ferida Wolff Writes: Winter to Spring
Ferida Wolff Writes: "Seeing the daffodils perking up brings to mind the rest of my backyard. My weedy vegetable garden needs to be cleared for new plantings. I have cucumber seeds and tomato seeds and lots of herbs all waiting to be given their chance to thrive. I’ll remove the dead branches from the hibiscus plants when the new ones start to come up. What a wonderful way to view the season. The daily temperatures may still be shifting but I am eager to start Spring planting." more »
Jo Freeman Reviews There is Nothing For You Here by Fiona Hill
Jo Freeman writes: Her description of Donald Trump and his dysfunctional administration is consistent with that of other authors. Trump was addicted to flattery and adulation. A chapter section is called “Me, Me, Me.” Hill says he suffered from “autocrat envy.” He didn’t just admire Putin; he wanted to be like him. Trump was angered by mere rumors that someone had said something negative about him. He wanted to just snuff them out, with the alacrity of Putin and other autocrats. Although Hill worked for the Bush, Obama and Trump administrations, we only get details about Trump. Since it’s not a short book, perhaps the publisher didn’t think reading about the earlier Presidents would generate sales. Too bad. Her other comparisons are illuminating; how these three men ran their domains should be as well.
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