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Friday Update: Steve Forbes details the Federal Reserve’s latest power grab; Stephen Moore asks where did all the workers go in the Obama economy; CNS News reports on the rapid rise of grocery prices

Politics and Government

At Investor’s Business Daily, Stephen Moore askswhere did all the workers go in the Obama economy?

From National Review, Stephen Moore warnssome conservatives are losing their way on taxes.

From, John Tamny sayscommodity traders do not run the world.

Monetary Reform

At Fox News, Steve Forbes detailsthe Federal Reserve’s latest power grab.

In The NY Times, Binyamin Appelbaum reportsThe Federal Reserve has overestimated the economic growth once again.

In The Washington Post, Ylan Mui detailsthe three lessons the world can teach the Federal Reserve.

From TGSN, Ralph Benko channelsthe NY Fed’s Liberty Street Economicsto explain the origin of the phrases “pieces of eight” and “two bits.”

The Middle Class Squeeze

CNS News reportson the rapid rise of grocery prices.

In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1. As of last May, it was 234.572. By this January, it hit 240.006. By April, it hit 249.362. And, in May, it climbed to a record 252.832.

Consumer Prices on the Rise, Texas paychecks not going as far as workers would like.

Spike in consumer products cause average workers to feel the pinch at the grocery story.

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