Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk The House antitrust panel featuring the chief executives of Google, Facebook, Apple, and Amazon highlighted the political isolation of Silicon Valley. Lawmakers from both sides of the aisle went after the executives in very harsh terms, accusing Google, for example, of stealing content from potential competitors. The one group that once could be counted on to help businesses resist government intervention, conservative Republicans, has been completely alienated by the Woke censorship of Masters of the Universe. This may foreshadow a tough time ahead for Big Tech. The Federal Reserve completed its two-day monetary policy meeting today. As universally expected, it left unchanged and promised to keep rates down until the economy recovers. Perhaps the most striking thing about the Fed’s post-meeting statement was just how powerful a force it sees in the virus itself. “The path of the economy will depend significantly on the course of the virus,” the statement said. That appears to indicate that the Fed sees economic policy as having only a limited effect in combating the drag on output and employment from the virus. Tomorrow morning, the federal government will release its first estimate of second-quarter GDP. The consensus estimate is for a stunning 35% decline, with a huge range of forecasts from 15% to close to 40%. Whatever the exact number, however, it will exaggerate the impact of the pandemic shutdown. Economic output is not one-third smaller than it was at the end of March. The headlines make it sound like that because the government reports GDP as an annualized rate of change, meaning it tells us what would happen to GDP if the economy stayed on the same path for 12 months. That’s useful in most circumstances, but can be misleading following sudden, temporary shifts – such as the government-ordered shutdown of much of the economy. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Fed Leaves Rates Unchanged Near Zero, Says Path of Economy Depends on Virus]( Federal Reserve officials left their benchmark interest rate unchanged near zero and said that the “path of the economy” would be influenced by “the course of the virus.” After sharp declines earlier this year, economic activity and employment “have picked up somewhat in recent months but remain well below their levels at the beginning of the year,” the Fed said. The Fed also said a decline in “demand and significantly lower oil prices are holding down consumer price inflation.” [[Click here for more]( Recommended Link [PIRRO VS TEEKA: 90-Minute Bloodbath!]( (See it to believe it) [image]( Two of America’s most outspoken personalities: - Emmy Award-winning TV host (and author) Judge Jeanine Pirro, and… - Legendary crypto trader Teeka Tiwari… Have just gone [toe-to-toe]( in a fully unhinged, unrehearsed, unsupervised [brawl]( the likes of which you’ve never seen. [Watch now and]( pay close attention… Because if you can pick the winning side of [this battle]( you could wind up $500,000 richer. [Click here]( -- IN OTHER STORIES… [GDP Suffered Horribly Under Pandemic Lockdowns But Not as Bad as Headlines Will Suggest]( The lockdown of the U.S. economy and China virus pandemic this spring triggered the sharpest economic contraction since the government began keeping track of national output after World War Two. The Atlanta Fed’s GDPNow real-time estimate shows gross domestic product declining at an annual rate of 32.1 percent. [[Click here for more]( [Jim Jordan Cites Censorship of Breitbart News as One Reason Big Tech ‘Is Out to Get Conservatives’]( House Judiciary Committee ranking member Rep. Jim Jordan (R-OH) said during an antitrust hearing on Wednesday that big tech companies are “out to get conservatives,” citing Google purging Breitbart News from its search results. Jordan delivered his opening statement during the House Judiciary Committee’s antitrust hearing regarding Amazon, Facebook, Apple, and Google’s dominance on the internet. The Ohio conservative listed several instances in which big tech companies censor conservatives, including Breitbart News. [[Click here for more]( [Joel Pollak: Google ‘Completely Killed Any Stories About Joe Biden from Breitbart’ on Its Search]( Google’s suppression of Breitbart News content on its search engine is part of a broader strategy to “steal the 2020 election for Joe Biden and the radical left,” said Breitbart News Senior Editor-at-Large Joel Pollak, author of Red November: Will the Country Vote Red for Trump or Red for Socialism?, in a Tuesday interview with Mark Levin on the latter’s eponymous radio show. Pollak joined Levin to discuss Breitbart News’ report on left-wing political bias integrated into Google’s search algorithm. [[Click here for more]( [Election Interference: Google Purges Breitbart from Search Results]( A few days after the 2016 election, at an internal meeting later leaked to Breitbart News, top Google executives lamented President Trump’s victory, comparing Trump voters to “extremists” and discussing their desire to make Trump’s election and the populist movement a “blip” in history. True to their word, four years later, Google is deliberately working to interfere with the reelection of Trump in 2020. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Is the Dollar’s Status as Global Reserve Currency Really in Danger?]( Is the U.S. dollar’s 76-year run as the world’s reserve currency about to expire? [[Click here for more]( [United CEO: U.S. Air Travel Declined by 50%]( We knew COVID-19 was wreaking havoc on airlines. Now, we have numbers. [[Click here for more]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Maganomics welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-415-6046, Mon–Fri, 9am–7pm ET, or email us [here](mailto:memberservices@maganomics.com). © 2020 Signal to Noise, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Signal to Noise, LLC. [Privacy Policy]( | [Terms of Use](