Posted on 08/23/2014 4:05:28 AM PDT by Son House
Yellen picked through the various arguments over what the seemingly contradictory data says: the faster-than-expected fall in the jobless rate to 6.2 percent from 7.3 percent a year ago, against the persistently extremely low labor force participation rate since the Great Recession, just 62.9 percent.
Yellen agreed that there have been some structural changes that have affected the way the labor market signals tightening through indicators such as part-time work, the number of people leaving jobs, and wage gains - which have been virtually insignificant since the recession ended in 2009.
But she insisted that the combined data that the Fed is reviewing suggests that the jobless rate decline "somewhat overstates" labor market improvements.
"Five years after the end of the recession, the labor market has yet to fully recover," she said.
"Yellen confirmed the majority view of the FOMC: Much more labor recovery is needed before the Fed raises policy rates," said David Kotok of Cumberland Advisors.
(Excerpt) Read more at menafn.com ...
What a genius Yellen is.
It will be next to impossible. . . . .
If Hitlery or another big spending Lib gets in. . . . . IT'S OVER.
Janet Yellen gave a ‘No Confidence Vote’ on a Democrat “Recovery”, she did get that part right...
but knowing what she has said about QE3 (the FED buying up bonds at a tune of $80 billion per month to stimulating job growth) suggest she isn’t ever going to criticize Democrat Policies not working, almost as if she believes they should work.
That $80 billion per month QE3 is one measure of the economic damage Democrats have done.
Agreed, Democrats have spent the USA budget into incomprehensible debt levels.
Well, we know she’s on the commie side where there is no acknowledgement of decreasing denominator. No, she is smart, but on the wrong side of things. Stop assuming she’s stupid...she is the same person as Jarret, 0bummer, H0lder, etc.
So hows that hope and change?
-—— has gone down a rat hole———
Well not exactly. The money has gone into the accounts of Democrat apparatchicks
The money was stolen from the treasury. What’s worse, the debt limit was raised to allow theft of even more money. The plan to request money for the illegal alien children was but another theft facilitation
The Democrat party is a criminal enterprise.
On top of that, she split an infinitive.
>>seemingly contradictory data says: the faster-than-expected fall in the jobless rate to 6.2 percent from 7.3 percent a year ago, against the persistently extremely low labor force participation rate since the Great Recession, just 62.9 percent.<<
Simple answers are always the best. “Unemployment” numbers from the regime are lies. They just stopped counting the unemployed. The U6 number is 16%, closer to the real number.
Any idiot can have 0% unemployment using similar sleight of hand.
Atlantic City is going down the toilet (again) and those jobs ain’t coming back. AC is a ghetto by the shore.
Minor correction here, the Dem’s dominated Congress in 2007-20011.
I still say this economic fiasco began when Chairman of Ways and Means, Charlie Rangel proposed a surtax on high incomes. That’s when the Producers were put on notice. They were going to be targeted to pay for all the schemes the Dems had up their sleeve.
Obama of Roanoke, we saw you coming.
‘Entrepreneurs instinctively understand the danger posed by larger liberal majorities... the risk-reward equation and fierce independence spirit of start up businesses are anathema to the class warfare, equality of outcome and spread the wealth mentality of the left. [...]’
I’d give her today’s NSS (No Sh** Sherlock) Award.
Janet can:
1) Stop printing money out of thin air allowing interest rates to rise to market levels and after more than a decade of the Fed artificially keeping rates down allow citizens who save money to earn a decent recent on their savings. Higher market rates would also force the President and Congress to actually do something about spending as well. Plus it would stop the conspiracy by China, Russia, Brazil, Iran and others to remove the dollar as the world’s reserve currency.
2) Continue to print money, thereby devaluing the currency and increasing inflation for middle class working people.
Watch Janet make the obvious choice, door #2. Just like her predecessors Greenspan and Bernanke. When you are in the palace eating cake with your elite friends, who cares about the little people?
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