Business

Fed faces risks as inflation fight runs into election on September 20, 2023 at 10:00 am Business News | The Hill

Published

2 years ago

September 20, 2023

The Federal Reserve is expected to hold interest rates steady this week as the central bank faces a slew of economic and political risks while attempting to quash inflation.

The Federal Open Market Committee (FOMC), the panel of Fed officials responsible for setting interest rates, will wrap up a two-day meeting Wednesday and likely keep borrowing costs unchanged.

Experts expect the Fed to tread carefully as the economy perches on a ledge of shifting indicators and divergent projections.

While inflation has accelerated for two consecutive months, a steadier slowdown in hiring, job openings and economic growth could be the signs of the Fed’s rate hikes taking hold.

“The effects of the interest rate hikes have not been seen widely because typically it takes about five quarters to see the real impact,” Mohammad Bhuiyan, a professor of entrepreneurship at Tuskegee University in Alabama, told The Hill.

Bhuiyan said it takes roughly 15 months for rate hikes to hit the economy.

“That’s the lag time,” he said.

A pause would allow the Fed to step back and see if the economy continues to slow before its next meeting in November.

Some Democrats and progressive policymakers insist the Fed has already done enough to curb inflation and risks throwing the economy into an avoidable recession.

But the Fed is also facing growing criticism from Republicans, including a cadre of presidential candidates who are pledging to make major changes at the central bank if elected.

Political consequences of the Fed’s inflation fight

Whether the Fed succeeds in curbing inflation without causing a recession could have serious implications for the 2024 presidential election.

President Biden has already been campaigning on his economic track record during the pandemic and the rapid recovery seen during his presidency.

“When I came to office and this nation was flat on its back, I knew what to do to vaccinate the nation, to rebuild the economy,” he said at a campaign event at the Lunt-Fontanne Theater on Broadway on Monday night.

While Biden presided over record-shattering job gains and a historically strong labor market, many Americans are sour on his economic record due largely to inflation.

More than half of respondents to a CNN poll from earlier this month said Biden’s economic policies had made the economy worse, and another poll found greater trust in former President Trump’s handling of the economy.

Political consequences of the Fed’s inflation fight are also materializing for Fed Chairman Jerome Powell, with Republicans grumbling that central bankers got started raising interest rates too late.

Powell is a registered Republican who has won broad bipartisan support both times the Senate votes on his confirmation as Fed chief but is unlikely to be reappointed if Biden loses.

“I would not reappoint him. I thought he was always late, whether it was good or bad, but he was always late,” said Trump, who nominated Powell to be Fed chairman and then feuded with him throughout his tenure, in an interview with the Fox Business Network in August.

Former Vice President Mike Pence and Florida Gov. Ron DeSantis (R) have also vowed not to renominate Powell.

“From COVID on, they put too much money into the economy,” DeSantis told CNBC last month.

“They were behind the ball on that. And then they’ve hiked so much now, it’s caused a lot of problems in the economy and could end up driving us into a recession,” he said.

A strong but straining labor market

The U.S. labor market, which was given steroids in the form of trillions of fiscal and monetary stimulus during the pandemic, has remained remarkably strong in the face of the Fed’s rate hikes. But signs of cooling are now evident.

The quits rate, a sign of worker confidence in the labor market, has fallen from a recent high in April of last year of 3 percent down to 2.3 percent in July.

The economy has been adding fewer jobs on a monthly basis since the beginning of the year, with some ups and downs. After adding 472,000 jobs in January, that number fell to 105,000 in June, bucking up to 157,000 in July and 187,000 in August.

The unemployment rate ticked up in August to 3.8 percent after hovering near historic lows since roughly March of last year.

“When you raise interest rates, it becomes more expensive for businesses to borrow, so that cuts into their profitability and they cut their borrowing,” Bhuyian said.

“When that happens, they have less money to work with, which means they need to cut workers — that’s the first place they go,” he continued.

Higher unemployment does not affect all segments of the population equally.

The unemployment rate for Black workers, which hit an all-time low of 4.7 percent earlier this year, is still consistently higher and more volatile than it is for white workers.

“I am concerned that we could lose what has become an indicator that the Black community has been really pleased about overall. There was a time in our history when the Black unemployment rate did not go below double digits,” Michelle Holder, an associate professor of economics at John Jay College in New York City, told The Hill.

“I absolutely remember what it was like … at that time, where it was just accepted that our community would be dealing with high unemployment — period,” she said.

Conflict in an overwhelmed housing market

Another pressure point for the Fed is the housing market, where much of the inflation that remains in the economy is located.

“Housing makes up the most significant and most enduring component of our measures of inflation. Unlike the price of gas or the price of toilet paper, housing costs are the biggest expense for most poor and working-class people,” Tara Raghuveer, housing activist and founding director of KC Tenants, a tenants’ rights organization in Kansas City, told The Hill.

“The cost of housing and specifically the rate of rent increase — the fact that the rent is too damn high — is an incredible stress point for the American people,” she said.

Business, Economy, DeSantis, federal reserve, Federal reserve rate hikes, Global economy, housing market, Interest rates, Recession, Trump, US economy The Federal Reserve is expected to hold interest rates steady this week as the central bank faces a slew of economic and political risks while attempting to quash inflation. The Federal Open Market Committee (FOMC), the panel of Fed officials responsible for setting interest rates, will wrap up a two-day meeting Wednesday and likely keep…

Business

Why 9 Million Americans Have Left

Published

2 weeks ago

October 8, 2025

Bolanle Media Staff

The Growing American Exodus

Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets

Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.

Health Care Concerns Drive Migration

America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad

Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.

Tax Burdens and Bureaucracy

US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.

The Digital Nomad Revolution

Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream

The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.

Business

Will Theaters Crush Streaming in Hollywood’s Next Act?

Published

2 weeks ago

October 8, 2025

Bolanle Media Staff

Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back

Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.

Industry Pulse: From Crisis to Renaissance

On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.

Blockbusters Lead the Culture

Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.

Streaming’s Limits and Studio Strategy

Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams

As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.

For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.

Business

Why Are Influencers Getting $7K to Post About Israel?

Published

3 weeks ago

October 2, 2025

Bolanle Media Staff

Influencers are being paid as much as $7,000 per post by the Israeli government as part of an expansive and sophisticated digital propaganda campaign. This effort is designed to influence global public opinion—especially among younger social media users—about Israel’s actions in Gaza and to counter critical narratives about the ongoing humanitarian situation.

How Much Is Being Spent?

Recent reports confirm that Israel has dedicated more than $40 million this year to social media and digital influence campaigns, targeting popular platforms such as TikTok, YouTube, and Instagram. In addition to direct influencer payments, Israel is investing tens of millions more in paid ads, search engine placements, and contracts with major tech companies like Google and Meta to push pro-Israel content and challenge critical coverage of issues like the famine in Gaza.

What’s the Strategy?

Influencer Contracts: Influencers are recruited—often with all-expenses-paid trips to Israel, highly managed experiences, and direct payments—to post content that improves Israel’s image.
Ad Campaigns: State-backed ad buys show lively Gaza markets and restaurants to counter global reports of famine and humanitarian crisis.
Narrative Management: These posts and ads often avoid overt propaganda. Instead, they use personal stories, emotional appeals, and “behind the scenes” glimpses intended to humanize Israel’s side of the conflict and create doubt about reports by the UN and humanitarian agencies.
Amplification: Paid content is strategically promoted so it dominates news feeds and is picked up by news aggregators, Wikipedia editors, and even AI systems that rely on “trusted” digital sources.

Why Is This Happening Now?

The humanitarian situation in Gaza has generated increasing international criticism, especially after the UN classified parts of Gaza as experiencing famine. In this environment, digital public relations has become a primary front in Israel’s efforts to defend its policies and limit diplomatic fallout. By investing in social media influencers, Israel is adapting old-school propaganda strategies (“Hasbara”) to the era of algorithms and youth-driven content.

Why Does It Matter?

This campaign represents a major blurring of the lines between paid promotion, journalism, and activism. When governments pay high-profile influencers to shape social media narratives, it becomes harder for audiences—especially young people—to distinguish between authentic perspectives and sponsored messaging.

As user trust in mainstream news decreases and social media’s power grows, understanding how digital influence operations work is critical for anyone who wants to stay informed and think critically about global events.

In short: Influencers are getting $7,000 per post because Israel is prioritizing social media as a battleground for public opinion, investing millions in shaping what global audiences see, hear, and believe about Gaza and the conflict.