How the Federal Reserve Fuels Fiscal Profligacy
If Republicans are serious about reducing federal deficit spending, it is important to consider the effect the Federal Reserve has on the nation's budgetary outlook. If the numerical models imposed by the Congressional Budget Office drive fiscal policy, lawmakers also need to understand what they portend for monetary policy.
The Fed once was committed to 'normalizing' its balance sheet—shrinking its footprint in credit markets by reducing the size of its portfolio of Treasury debt and mortgage-backed securities. Chairman Jerome Powell noted in a 2019 speech that large-scale asset purchases by the Fed over the previous 10 years had been viewed from the outset as 'extraordinary measures to be unwound, or 'normalized,' when conditions ultimately warranted.'
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CBS News
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State Department cable instructs embassies worldwide to relay U.S. is "not involved" in "unilateral" Israeli strikes on Iran
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Early voting election guide, key dates, hours
The Brief Early voting in the 2025 New York City primary elections is already showing strong participation across all five boroughs. NYC uses ranked choice voting: You can rank up to five candidates instead of picking just one. Primary Day is June 24: Polls are open from 6 a.m. to 9 p.m. with early voting running daily until June 22. NEW YORK CITY - Early voting in the 2025 New York City primary elections is already showing strong participation across all five boroughs. According to unofficial data from the NYC Board of Elections, as of the close of polls on day two (Sunday) of early voting, a total of 66,361 voters had checked in. Skip to: How to vote | Key dates | Ranked choice | Results The breakdown by borough is as follows: Manhattan 21,565 Brooklyn 23,637 Queens 13,823. The Bronx 5,170. Staten Island 2,166 These numbers reflect cumulative check-ins and underscore the critical role early voting plays in the city's election process. Here's everything you need to know about voting in New York City this election cycle. You can vote in person during early voting or on Primary Day. You can also vote by absentee ballot. Absentee ballots must be postmarked by June 24 and received by July 1. June 22: Last day to vote early. June 23: Final day to register to vote in person at your local board of elections. June 24: Primary Election Day. Polls open 6 a.m. to 9 p.m. Vote at your assigned site. This is also the deadline to return early voting or absentee ballots. Mail ballots must be postmarked by June 24. You can check your registration status or register to vote online here. To find your local poll site, click here. Saturday, June 14: 9 a.m. to 5 June 15: 9 a.m. to 5 June 16: 9 a.m. to 5 June 17: 10 a.m. to 8 June 18: 10 a.m. to 8 June 19: 9 a.m. to 5 June 20: 8 a.m. to 4 June 21: 9 a.m. to 5 June 22: 9 a.m. to 5 p.m. Ranked choice voting is used in primary and special elections for mayor, public advocate, comptroller, borough president and City Council. Voters approved this system in 2019. Here's how it works You can rank up to five candidates in order of preference. Your first-choice vote is counted first. If a candidate gets more than 50 percent of first-choice votes, they win. If no one reaches that threshold, the last-place candidate is eliminated and those votes are redistributed to the next highest-ranked candidate on each ballot. This process continues until only two candidates remain and the one with the most votes wins. You may rank up to five candidates, but you are not required to rank all five. Only rank candidates you support. You can vote for just one person if you want. Do not rank the same candidate more than once. Only select one candidate per column, for first choice, second choice, and so on. For example, your first choice is your top pick. Your second choice is your backup. Then follow with third, fourth and fifth if desired. On election night, results will only show first-choice votes from early voting, in-person voting and processed absentee ballots. Preliminary ranked choice tabulations will be released one week after election day. Updates will be shared weekly as absentees, affidavits and cured ballots are counted. Final results will be certified after all ballots have been processed. The general election is Tuesday, Nov. 4, this year. Polls are open from 6 a.m. to 9 p.m. Early voting runs from Oct. 25 through Nov. 2. Saturday, Oct. 25, is the last day to register to vote in person. Mail-in registration applications must also be received by Oct. 25. Make sure to register on time, know your polling location and understand how your ballot works.
