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Economic Update: A Strong Economy with Tangible Benefits

The current economic landscape is showing remarkable stability and growth. Key indicators like interest rates, inflation, and unemployment reveal a robust economy that directly impacts individuals and businesses positively. Interest Rates The Federal funds rate has stabilized at 5.25%-5.5%, with a forecasted reduction to 4.00%-4.25% by the end of the year as inflation and economic activity ease. Lower interest rates mean cheaper borrowing costs for consumers and businesses, enabling more investments, expansions, and purchases that drive economic growth and job creation. Personal Impact: Sarah, a small business owner in Dallas, was able to secure a low-interest loan to expand her bakery. With the additional funds, she hired three more employees, boosting the Dallas economy and providing jobs to her community. Inflation The Consumer Price Index (CPI) increased by 3.4% before seasonal adjustment for April. Given the massive economic challenges of recent years, maintaining such a moderate
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Estimate: Dollar Value of British Colonialism and Forced Labor

Estimate: Dollar Value of British Colonialism and Forced Labor Our economic impact estimate considers ingenuity, common law, commerce, trade, and the development of joint-stock companies. Ingenuity and Innovation: British advancements in technology, industrialization, and innovation drove economic growth. Inventions like the steam engine, mechanized manufacturing, and improvements in infrastructure, significantly boosted productivity and economic output. Legal and Institutional Framework: The development of common law and legal institutions provided a stable environment for commerce and trade, since property rights, contract enforcement, and the rule of law facilitated exploitative business transactions. Trade and Commerce: British trade networks, particularly with India, North America and Asia, facilitated the exchange of goods and services, driving economic growth. Financial Innovations: The emergence of joint-stock companies and financial institutions, such as the Bank of England, p

CIR Review: MSNBC on "Algebra of Wealth" by Anish Thota, Intern, Charlotte Latin School

In a world where financial security seems increasingly elusive for the younger generation, the fight against climate change emerges as another battleground where youth are grappling with the consequences of decisions made by older generations. The conversation above sheds light on the structural inequities embedded in the tax system, which disproportionately burden younger individuals striving to achieve economic stability. As wealth becomes concentrated in the hands of a select few, exacerbated by policies favoring capital gains and mortgage industry interests, younger Americans find themselves facing stagnant wages, unaffordable housing, and diminishing opportunities. These economic challenges intersect with the urgency of addressing climate change, as younger generations inherit a planet ravaged by environmental degradation and unchecked resource exploitation. As young people mobilize to demand action on climate change, they are not only advocating for a sustainable future but also

Commerce Secretary Gina Raimondo at Semafor. Daniel Merritt, Gonzaga University, Intern.

  Commerce Secretary Gina Raimondo spoke at the  Semafor World Economy Summit 2024 on the role of her institution going forward. Secretary Raimondo spoke highly of Biden’s economic policy, specifically citing the Chips Act capacity to empower her Department to make significant progress in  semiconductors. According to the Secretary, "America currently manufactures zero percent of leading-edge chips." Raimondo envisions twenty percent of all chips being made on American soil by 2030. She further emphasized localizing the chip ecosystem, claiming that ‘technological security is economic security, and economic security is national security’.         Raimondo makes clear that her advocacy for bolstering domestic semiconductor production does not connote an inclination toward economic isolationism. On the contrary, she underscored the need for continued engagement with international trade partners, including China, while cautioning against overreliance on foreign technology. Her

COST-SAVING OPTIONS FOR BLACK AMERICANS TO CONSIDER AS MORTGAGE RATES EXCEED 7%. Black Enterprise Magazine. Jeffrey McKinney April 22, 2024

COST-SAVING OPTIONS FOR BLACK AMERICANS TO CONSIDER AS MORTGAGE RATES EXCEED 7%. William Michael Cunningham, an economist and owner of Creative Investment Research, says that though the 30-year rate has increased, it is still much lower than it was in October 2023, when it was about 7.8%. He says that means the monthly costs for today’s buyer on a $250,000 mortgage with a $10,000 down payment is $1,728 at 7.8%, as opposed to $1,613 on a 7.1 % mortgage. He says the difference would save a buyer over $41,300 over the life of the mortgage in payment and interest costs. “That’s four times the amount of the down payment than you placed on the home that you’re buying, giving you more money to buy another house if you decide to do so.” He says another cost-saving option Black homebuyers should consider is energy-efficient mortgages . See: https://www.blackenterprise.com/cost-saving-options-for-black-americans-to-consider-as-mortgage-rates-exceed-7/

ANALYSIS: ANTI-DEI EFFORTS FUELED HIGHER BLACK UNEMPLOYMENT NATIONWIDE IN MARCH 2024 by Jeffrey McKinney, Black Enterprise Magazine. April 19, 2024.

Presenting a thought-provoking take: The latest unemployment rate for Black Americans may have risen because of a recent rash of anti-DEI efforts, mainly from the education and corporate sectors. According to a new report by Creative Investment Research, the higher jobless rate for Blacks nationwide in March 2024 potentially stems from specific incidents that accentuate the impact of anti-DEI measures on Black employment. That analysis was provided to BLACK ENTERPRISE by William Michael Cunningham, an economist and the owner of Creative Investment Research in Washington, D.C. In his report, Cunningham explained that the unemployment rate for whites stayed relatively stable from January 2023 to March 2024, hitting between 3.1% and 3.5%. For Blacks, he says the rate rose from 5.4% to 5.8% in November 2023 before falling to 5.2% in December 2023 but soared to 6.4% in March 2024. Conversely, Cunningham noted the unemployment rate for Asians is lower among all groups. It was 3.5% in Novemb

Charlamagne and DEI. Daniel Merritt, Gonzaga University, Intern.

In a recent episode of the Daily Show, anchor and host Charlamagne expressed a lack of faith  in the use of DEI programs in America. Charlamagne explains how he believes DEI is a front for companies to feign diversity-mindsets while maintaining predominantly white employee populations.  He gives the example of Nike who encourages diversity but has a completely white board of directors. His main qualm with this is that DEI is just serving as corporate PR, even going on to explain how DEI programs can act as evidence in a corporation’s favor when facing a civil rights lawsuit. Charlamagne is warranted in these beliefs; the world of corporate DEI is often lacking integrity and authenticity.  Where he is wrong, however, is the conclusions he draws from them.        Charlamagne claims that DEI is mostly ‘garbage’. He states that over 900 studies have shown that DEI is ineffective. He does not provide sources for these studies or mention any specifics. (Forbes Magazine noted this inaccuracy:

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