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Federal Reserve undercuts Trump with data showing manufacturers and consumers are hardest hit by his tariffs

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According to a report issued on Friday by the Federal Reserve, manufacturers are admitting that tariffs instituted by President Donald Trump are cutting into their bottom lines and some of the costs are being passed along to consumers in the form of increased pricing.

Bloomberg reports that the New York Fed’s Empire State Manufacturing Survey and Business Leaders Survey included new questions about costs and tariffs and the results paint a damning portrait of the damaging effect on companies affected by the president’s trade war with China among other countries.

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The report states the questionnaire “…showed a clear increase in the number of respondents who reported tariffs raising input costs, compared to their answers in August 2018. About two-thirds of manufacturers saw an upward effect on prices paid and some 45% saw an upward effect on selling prices. The numbers were slightly lower but similar in the services sector.”

Getting into the numbers, the Federal Reserve report states, “among manufacturers, 51 percent perceive a negative effect in 2019, and 47 percent anticipate a negative effect in 2020.”

Bloomberg adds, “The New York Fed survey findings also chime with a report Friday from Deere & Co. that it is seeking cost savings amid a 24% fall in operating profit from its agriculture machinery unit, which was hit with higher production costs and lower shipping volumes. That makes sense, given U.S. farmers complain that they’ve been big losers in the trade war.”

You can read more here (subscription required).

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Leaks against Jerry Falwell Jr suggest Liberty University wants him out as president: Conservative columnist

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Jerry Falwell Jr., took over the evangelical Liberty University when his father died in 2007. Today, his myriad controversies—from his embrace of Donald Trump to the bizarre tale involving him, his wife and a pool boy—are threatening to spark a civil war at the institution.

Writing in the conservative publication The Bulwark, columnist Andrew Egger chronicles Falwell's recent PR problems.

"Fallout from a legal dispute led to a series of bombshell reports about Falwell, which unearthed wacky details about, in the words of the New York Times, 'the friendship between Mr. Falwell, his wife, and a former pool attendant at the Fontainbleau hotel in Miami Beach; the family’s investment in a gay-friendly youth hostel, and purported sexually revealing photographs involving the Falwells,'" Egger writes.

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Activism

‘Better wages, more toys’: Watch an adorable 3-year-old girl lead chant at General Motors strike

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A 3-year-old girl was caught on video leading a chant of "better wages, more toys" at a the General Motors strike in Ohio.

Video of the girl was posted by Mike Elk of The Payday Report.

WATCH: 3 year old girl leads chant of "Better Wages, More Toys" #gmstrike pic.twitter.com/JRmG7er6Ry

— Mike Elk (@MikeElk) September 18, 2019

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‘I will bite through your eyeballs’: Trump supporter pleads guilty to threatening to eat Harvard professor

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A 30-year-old Trump supporter from Rhode Island pleaded guilty to stalking and transmitting a threat this week after he sent dozens of emails to a Harvard professor that included threats to kill and eat them.

CBS Boston reports that Matthew Haviland earlier this year sent 28 emails to an unnamed Harvard professor who had been outspoken in favor of abortion rights and critical of Trump.

Some of the emails sent to the Harvard professor included threats involving cannibalism, such as "I will rip every limb from your body and eat it, piece by piece,” and “I will bite through your eyeballs while you’re still alive, and I will laugh while you scream.”

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