The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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WASHINGTON, D.C. – In a bold and controversial move, Mohamed El-Erian, a leading economist and president of Queen’s College at Cambridge University, has called on Federal Reserve Chair Jerome Powell to voluntarily step down to safeguard the Fed’s independence amid growing political and economic pressures.
photo Treasury Secretary Scott Bessent
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Washington DC, Treasury Secretary Scott Bessent signaled Monday that it may be time for a sweeping review of the Federal Reserve—beyond the current controversy over costly renovations—to examine whether the central bank is truly fulfilling its mission.
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New York NY, Wall Street is on fire — both the S&P 500 and Nasdaq have soared to record highs, fueled by positive developments in U.S.-China trade talks, Federal Reserve rate cut speculation, and surging investor confidence in the tech sector.
Continue reading S&P 500 and Nasdaq Hit Record Highs Amid Trade Optimism, Fed Bets, and Tech Surge
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Washington DC, After a rocky start to 2025 driven by the effects of the Trump-era tariff tensions, the American economy is showing strong signs of resilience. According to the Atlanta Federal Reserve, the estimated GDP growth for the first two months of the second quarter now sits at a robust 4.6%.
Continue reading U.S. Economy Surges in Q2 Despite Early-Year Tariff Turmoil
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Ridgewood NJ, inflation in April stayed surprisingly steady, even as experts warned that new tariffs could drive prices higher. According to a report released Friday by the U.S. Commerce Department, the Personal Consumption Expenditures (PCE) Price Index — the Federal Reserve’s preferred inflation gauge — rose just 0.1% for the month.
Continue reading April Inflation Barely Moves Despite Tariff Warnings — Here’s What the Data Says
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Washington DC, in a pivotal decision with wide-ranging implications for executive power, the U.S. Supreme Court on Thursday sided with the Trump administration, granting a request that allows the president to fire members of certain independent federal agencies. However, the ruling notably excludes the Federal Reserve, reinforcing its special status as a quasi-private institution.
Once a symbol of luxury, a million-dollar net worth is now average in the U.S. — here’s how we got here
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Ridgewood NJ, in the past, millionaires were revered — symbols of success, wealth, and sometimes, envy. Today? Not so much. According to the Federal Reserve, the average (mean) net worth of an American household has topped $1 million for the first time in history. With over 22 million millionaire households in the U.S., being a millionaire is no longer rare — it’s practically mainstream.
Continue reading The Explosive Rise of Millionaire Households in America
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Washington DC, the Federal Reserve announced yesterday that it will keep its benchmark interest rates unchanged, holding steady at a target range of 4.25% to 4.5% for the third consecutive meeting. The move comes amid mixed economic signals and ahead of critical U.S.-China trade talks set to begin later this week.
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Ridgewood NJ, as the U.S. economy grapples with market uncertainty and persistent inflation, questions are swirling about whether a future President Donald Trump could fire Federal Reserve Chairman Jerome Powell before his term ends in 2026. Legally speaking, the answer remains murky—but the political and financial implications are massive.
file photo
the staff of the Ridgewood blog
Chicago Il, Federal Reserve Chairman Jerome Powell issued a cautious economic outlook on Wednesday, stating that the central bank will “wait for greater clarity” before considering any changes to interest rates. His comments come amid rising concerns that President Trump’s tariffs may fuel both higher inflation and slower economic growth, creating a policy dilemma for the Fed.
Continue reading Fed Chair Jerome Powell: Tariffs Could Spark Higher Inflation, Slower Growth