FEINGOLD WIDENS LEAD IN IOWA TO 12 POINTS BUT CLINTON LEADING IN OTHER 3 EARLY STATES BY SOLID MARGINS-AUGUST 3, 2011 OBAMA DECLARES "IT'S TIME FOR NEW LEADERSHIP", SAYS ONLY HE CAN BE PRINCIPLED, ELECTABLE, AND BIPARTISAN-AUGUST 4, 2011 TONY ABBOTT OVERTHROWN IN CONFIDENCE VOTE, NEW ELECTION TO BE HELD RUDD LOOKS SET TO WIN-AUGUST 5, 2011 STANDARD & POOR'S DOWNGRADES US CREDIT RATING TO AA+, BLAMES PARTISANSHIP AND UNWILLINGNESS TO COMBAT THE DEBT ON BOTH SIDES-AUGUST 6, 2011 FEDERAL RESERVE BOARD VOTES TO RAISE INTEREST RATES TO 0.5% BASIS POINTS HUBBARD: "WE HAVE NO CHOICE"-AUGUST 6, 2011 The Federal Reserve Board voted last night to raise interest rates. This move has been done to quell rising inflation, which many blame on the Quantitative Easing policies of the previous Fed Chairman Roger Ferguson. Ferguson has virulently opposed the interest rates hikes, calling it "a stupid decision that will have dire consequences for the economy." The economy, already shrinking, is now predicted to enter a double-dip recession, though Hubbard has claimed that this is necessary to avoid a major inflation crisis. The stock markets are expected to fall dramatically after two big whoppers, the downgrade and the interest rate hike, in one day. The decision is already igniting major controversy among economists, and fear among politicians. The economy is set to face another traumatic, but hopefully short, period.