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Keyword: fed

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  • The Fed Will Go Dovish On the Way Back to Zero [ECON STINKS = NO RATE HIKES IN 2016]

    04/15/2016 4:21:59 AM PDT · by expat_panama · 10 replies
    Real Clear Markets ^ | April 15, 2016 | Peter Schiff
    The Winter of 2015-2016, which came to an end a few weeks ago, has been officially designated as the mildest in the U.S. in 121 years according to NOAA. While this fact will certainly add a major talking point in the global warming debate, it should also be front and center in the current economic discussion. The fact that it isn't is testament to the blatantly self-serving manner in which economic cheerleaders blame the weather when it's convenient, but ignore it when it's not. If economists were consistent (and that's a colossal "if"), the good weather would be taken as...
  • Obama 'pleased' with Fed's Yellen: White House

    04/11/2016 2:45:20 PM PDT · by Cheerio · 5 replies
    Yahoo News ^ | April 11, 2016 | Reuters
    WASHINGTON (Reuters) - U.S. President Barack Obama is happy with the job done by Federal Reserve Chair Janet Yellen, with whom he is meeting on Monday to discuss regulatory issues and world economy, the White House said. "The president has been pleased with the way she has fulfilled what is a critically important job," White House spokesman Josh Earnest said at a news briefing.
  • Yellen backs ‘gradual’ rate hikes, says U.S. is not in a bubble

    04/10/2016 5:24:43 AM PDT · by expat_panama · 22 replies
    Wall Street Journal ^ | Apr 8, 2016 | Michael S. Derby
    NEW YORK — Federal Reserve Chairwoman Janet Yellen offered an upbeat view of the U.S. economy Thursday and affirmed the central bank’s next step is likely to raise interest rates. But the central-bank chief didn’t say when she wants the Fed to boost borrowing costs again. “We think a gradual path of rate increases will be appropriate” given the progress the economy has made and is likely to continue to make, Yellen said as part of a panel discussion involving all the living chairs of the Federal Reserve past and present. She was joined on stage at the International House...
  • We Have a Fiscal Problem, Not a Monetary One

    04/01/2016 4:05:23 AM PDT · by expat_panama · 27 replies
    Real Clear Markets ^ | April 1, 2016 | Larry Kudlow
    Speaking before a packed audience at the prestigious Economic Club of New York, Fed chair Janet Yellen basically announced that there would be no rate hikes for quite some time - maybe once before year end, maybe not. Her key point was that the global economy is worse today than it was in December, back when the Fed took its target rate up a quarter point. I think she's right. I also think she is paying more attention to forward-looking, inflation-sensitive financial and commodity-market prices. This is good. Very good. Yellen cited shrinking inflation spreads in the Treasury bond market,...
  • Fed Admits it is the World’s Central Bank – not just the USA Central Bank

    03/30/2016 7:20:38 PM PDT · by dontreadthis · 13 replies
    armstrong economics ^ | Mar 30, 2016 | Martin Armstrong
    Janet Yellen signaled that the Fed is grappling with the problem I have been warning about: the dollar has become the de facto currency and the Fed is indeed becoming the world’s central bank. Yellen has admitted that everyone is lobbying the Fed to surrender its domestic policy objectives for international ones. This is precisely what took place in 1927. Yellen stated that the Fed should worry less about inflation domestically than about global growth risks. She pointed to the slowdown in China and depressed commodity prices, but Europe is a real basket case. She used the words that “caution...
  • Feds Propose to Fine Schools for Not Following Michelle's Lunch Directives

    03/29/2016 8:42:28 AM PDT · by SeekAndFind · 40 replies
    PJ Media ^ | 03/29/2016 | Michael Walsh
    They say it's broccoli, and they say the hell with it. But Big Brother is watching you, kids: The federal government is taking steps to fine schools that do not comply with first lady Michelle Obama’s school lunch rules. The U.S. Department of Agriculture’s Food and Nutrition Service issued a proposed rule Monday to codify parts of the Healthy, Hunger-Free Kids Act, which was championed by Mrs. Obama. The regulation would punish schools and state departments with fines for “egregious or persistent disregard” for the lunch rules that imposed sodium and calorie limits and banned white grains.It can't happen...
  • The Fed, the Dollar, and Oil

    03/23/2016 5:03:26 AM PDT · by expat_panama · 10 replies
    financial sense ^ | 03/22/2016 | Matthew Kerkhoff
    Five consecutive weeks of gains makes it hard to argue that we’re in a bear market. While it may not seem like much has changed since the markets last swooned, a few key developments remain supportive of stock prices.In particular, a shifted stance on monetary policy, change in the trajectory of the dollar, and recovery in oil prices have turned sellers into buyers.The Fed Last Wednesday the Federal Reserve confirmed what many had anticipated going into the latest FOMC meeting: that the Fed would have to back off of its four-rate-hike plan for 2016.For some time now, the Fed’s...
  • Market calm has eerie parallels to pre-swoon August

    03/24/2016 5:58:20 PM PDT · by SkyPilot · 10 replies
    CNBC ^ | 24 Mar 16 | Alex Rosenberg
    Stocks haven't done much in a while. Wednesday marked the eight-straight day that the S&P 500 had closed less than 1 percent above or below its prior closing price. Ominously, the last time the market staged this long a period of quiescence was in early August — shortly before stocks took a gut-wrenching tumble. Now, as then, "we are at a precarious position," Erin Gibbs of S&P Investment Advisory said Wednesday on CNBC's "Trading Nation." "We're trading at fairly high valuation and earnings growth doesn't look that good, so any big shocks — disappointment from China, any movement from the...
  • A Confused Fed Will Soon Dismiss Rate Hikes Altogether

    03/24/2016 3:59:50 AM PDT · by expat_panama · 31 replies
    Real Clear Markets ^ | March 24, 2016 | Peter Schiff
    The Federal Reserve's years-long campaign to sheepishly back away from its own policy forecasts continued in earnest last week when it officially reduced the four expected 2016 quarter point hikes, suggested back in December, to just two. Given the deteriorating economic outlook, I believe there can be little doubt that the Fed will soon complete the capitulation process and remove all expectations for additional hikes this year. Even before that happens, savvy observers should have already concluded that the Federal Reserve is stuck in the monetary mud just as firmly now as it has been since the dawn of the...
  • Fed leaves rates unchanged, lowers economic forecasts

    03/16/2016 11:41:27 AM PDT · by John W · 44 replies
    The Washington Post ^ | Match 16, 2016 | Steven Mufson
    The Federal Reserve left its benchmark interest rate unchanged today and lowered its economic forecasts after a turbulent start to the year in financial markets and lackluster U.S. growth persuaded the central bank to reassess the timing and magnitude of its plan to raise rates. The Fed maintained its target for interest rates at a range of 0.25 to 0.50 percent to give the U.S. recovery more time to get on a stable track without making recovery more difficult for the rest of the world, where growth is flagging. Only one member of the Federal Reserve's open market committee dissented...
  • Fed Rates Seen On Hold; But Yellen May Signal June Gloom

    03/16/2016 3:24:57 AM PDT · by expat_panama · 7 replies
    Investors Business Daily ^ | March 15, 2016 | ED CARSON
    The Federal Reserve is expected to keep interest rates unchanged at the end of its two-day policy meeting on Wednesday, but policymakers may signal fresh monetary action in the next few months, perhaps in June. The Fed will issue its policy statement at 2 p.m. ET, along with new economic forecasts. Fed Chairwoman will hold a news conference at 2:30 p.m. The central bank raised rates for the first time in nearly a decade in December. But financial market turmoil, perhaps partially fueled by that December move, along with weaker economic data spurred policymakers to hold off on further tightening...
  • Central Banks Have Signed Their Death Warrants

    02/28/2016 8:35:01 PM PST · by TigerLikesRooster · 31 replies
    Daily Reckoning ^ | February 22, 2016 | David Stockman
    Central Banks Have Signed Their Death Warrants During the past year U.S. consumption spending for health care rose by 5%. Spending at restaurants and bars were up by 9%, while spending for gasoline and other energy products was down by 22%. This was Mr. Market at work--millions of households reallocating their spending in response to relative price changes. It had nothing to do with a macroeconomic abstraction called "weak demand". Actually, the medical care component of the CPI rose 3.3% last year. Housing and shelter were up by 3.2%, while gasoline prices were down by 7.3%. It all added up...
  • The World's Biggest Banks May Very Well Grow Even Larger

    02/23/2016 7:11:16 PM PST · by Tolerance Sucks Rocks · 14 replies
    Fortune ^ | February 23, 2016 | Eleanor Bloxham
    Ever since the financial crisis, many outside the wealthy elite (sometimes referred to as populists) have argued that the largest banks are too big and too risky. Minneapolis Federal Reserve president Neel Kashkari recently echoed those beliefs.Yet if a new Federal Reserve proposal goes through, Wells Fargo and other large banks might get even bigger and riskier, adding billions to their balance sheets that could increase the banks’ risk profiles.The Federal Reserve says the proposal, which specifies the amount and kind of debt that systemically important large banks must hold, could help make sure that those banks can be wound...
  • Federal Reserve Chair Yellen Grilled About Negative Interest Rates By Congress

    02/17/2016 9:41:33 AM PST · by SeekAndFind · 37 replies
    International Business Times ^ | 02/17/2016 | Owen Davis
    Federal Reserve Chairwoman Janet Yellen faced what may have seemed like an absurd line of questioning on Capitol Hill this week: Has the Fed considered negative interest rates? It's not a fantasy. At central banks around the world, negative benchmark interest rates have become the new normal, leading to some unusual paradoxes. In Denmark, instead of paying interest on their mortgages, many borrowers have been receiving payments from banks on their home loans. On the flip side, some Swiss bank customers have had to pay banks to keep cash in savings accounts. Yellen told Congress Thursday, following negative moves by central banks in Europe and elsewhere, the Fed has...
  • The Mystery of the One Bank: its Owners?

    02/16/2016 8:41:52 AM PST · by amorphous · 11 replies
    Zero Hedge ^ | 16 Feb 2016 | Jeff Nielson
    Roughly 2 1/2 years ago ; readers were introduced to a paradigm of crime, corruption, and control which they now know as "the One Bank". First they were presented with a definition and description of this crime syndicate. That definition came via a massive computer model constructed by a trio of Swiss academics, and cited with favor by Forbes magazine . The computer model was based upon data involving more than 10 million "economic actors", both individuals and corporations, and the conclusions which that model produced were nothing less than shocking. The One Bank is "a super-entity" comprised of 144...
  • Will crash of 2016 be worse than 2008? Interview with Charles Ortel

    02/13/2016 7:15:33 AM PST · by Randall_S · 19 replies
    USA Transnational Report ^ | February 13, 2016 | USA Transnational Report
    Will the crash of 2016 be worse than 2008? Central banks have failed to solve the crisis, and instead have taken on more debt than any time in history. At the same time, western institutions are welcoming in Islamic money. Does this mean Sharia-compliant finance? Listen here: http://usatransnationalreport.org/2016/02/13/usa-transnational-report-february-13-2016-guest-charles-ortel/ While European banks, such as Deutsche Bank, falter, what does this mean for the U.S. economy? And what does the future look like? Charles Ortel is an investor and writer interested in economics, geo-politics, history, travel and just, lasting peace. He has done extensive research on the fraudulent activities of the Clinton...
  • ‘Blames World’ "...the Fed is the author of its own failures..."

    02/12/2016 4:24:59 AM PST · by expat_panama · 13 replies
    New York Sun ^ | February 11, 2016 | Editorial of The New York Sun
    If Ben Bernanke's epitaph is going to be "We could raise interest in 11 minutes if we have to," what will be written on his successor's tombstone? How about "Blames World." That is the headline up today on the Drudge Report. It links to a dispatch of the Agence France Press on Janet Yellen's growing concerns over a worsening financial situation less than two months after she raised interest rates as a sign of confidence in the improving economy. What an opportunity for Senator Ted Cruz... The story, pegged to Mrs. Yellen's semi-annual testimony yesterday to the House Financial Services...
  • Here Is The Exchange That Left A Stunned Janet Yellen Looking Like A Deer In Headlights

    02/10/2016 7:51:19 PM PST · by Nachum · 23 replies
    zero hedge ^ | 2/1016 | tyler durden
    For nearly one year, Wisconsin Rep. Sean Duffy has been Janet Yellen's nemesis over the ongoing probe into Fed leakage of material inside information via Medley Global and any other undisclosed channels, one which has seen subpoeans be lobbed at the Fed which has been doing everything in its power to stall said probe, and which cost Pedro da Costa his job when he dared to ask questions at a Fed presser that were not precleared by his WSJ "Fed mouthpiece" peers. Today, during Yellen's appearance before the House Financial Services committee, Duffy finally had enough, and in a heated...
  • Gold Surges Back Into The Green After $1.2 Billion Morning Plunge

    02/05/2016 12:47:53 PM PST · by amorphous · 4 replies
    Zero Hedge ^ | 5 Feb 2016 | Tyler Durden
    After someone decided to dump $1.2 billion notional in gold futures this morning as the jobs data hit - sparking a $20 tumble in the precious metal - it appears stock sellers are greatly rotating to the safety of bullion (over bonds)...
  • Is The Fed "Seriously Considering" Negative Interest Rates?

    02/04/2016 9:57:02 AM PST · by Former Proud Canadian · 36 replies
    Zerohedge ^ | February 4, 2016 | Tyler Durden
    The Fed may "seriously consider" negative rates after moving rates back to zero, reintroducing forward guidance and making "stronger pleas" to Congress for fiscal policy action as there are complications for money markets, according to BofAML strategist Mark Cabana. This would not be a total surprise as Mises Institute's Joseph Salerno warns recent Fed commentary suggests they want to test-drive negative interest rates... In 2016, the Fed's annual stress test on banks will include a scenario in which the interest rate on the three-month U.S. Treasury bill becomes negative in the second quarter of 2016 and then declines to -0.5%,...
  • Fed stress-tests negative interest rate idea

    02/02/2016 8:53:37 PM PST · by Leaning Right · 20 replies
    Reuters via CNBC ^ | Feb. 2, 2016 | Richard Beales
    The Federal Reserve started raising official interest rates in December. But in the stress tests that large U.S. banks have to undergo, the central bank is hypothesizing that short-term Treasury yields could drop below zero. The European Central Bank and, since Friday, the Bank of Japan are trying it with policy benchmarks. Though negative U.S. interest rates are for now only in the Fed's worst-case scenario, they are becoming a plausible downturn assumption.
  • Lawrence Kudlow: Fed Freaks Out About Markets It’s Unable To Read

    02/02/2016 3:57:48 AM PST · by expat_panama · 33 replies
    Investors Business Daily ^ | Feb. 1, 2016 | LAWRENCE KUDLOW
    Early in the new year, on Sunday, Jan. 3, Federal Reserve Vice Chairman Stanley Fischer delivered a hawkish speech to the American Economic Association. Completely misreading the economy, which is woefully weak while inflation is virtually nil, Fischer strongly hinted that the Fed would be raising its target rate by a quarter of a percent every quarter for the next three years. The next day, Standard & Poor's 500 index dropped 1.5%. In the week that followed, the broad index fell 6%. The week after that, it fell over 2%. During that two-week period, the Dow Jones dropped 1,437 points....
  • EXCLUSIVE: Secret Fed Docs Show Obama Misled Congress, Public During Debt Limit Crises

    01/31/2016 6:45:38 PM PST · by SoFloFreeper · 24 replies
    The Daily Caller ^ | 1/31/16 | Richard Pollock
    Federal Reserve Bank of New York officials secretly conducted real-time exercises during the 2011 and 2013 debt-limit crisis that demonstrated the federal government could function during a temporary shutdown by prioritizing spending, even as Treasury Secretary Jack Lew publicly claimed many times that such efforts were "unworkable," according to a new report by the House Financial Services Committee obtained by The Daily Caller News Foundation. The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will...
  • EXCLUSIVE: Secret Fed Docs Show Obama Misled Congress, Public During Debt Limit Crises

    01/31/2016 10:11:50 PM PST · by Nachum · 22 replies
    Daily Caller ^ | 1/31/16 | Richard Pollack
    Federal Reserve Bank of New York officials secretly conducted real-time exercises during the 2011 and 2013 debt-limit crisis that demonstrated the federal government could function during a temporary shutdown by prioritizing spending, even as Treasury Secretary Jack Lew publicly claimed many times that such efforts were “unworkable,” according to a new report by the House Financial Services Committee obtained by The Daily Caller News Foundation. The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will...
  • 5 Things to Watch at the Fed Meeting

    01/27/2016 3:07:28 AM PST · by expat_panama · 3 replies
    Wall Street Journal ^ | 26 Jan 2016 | Ben Leubsdorf
    The Federal Reserve this week will update its assessment of the U.S. economy and could take note of recent volatility in global financial markets. But any move or definite signal on interest rates is extremely unlikely. All the action will come in Wednesday’s policy statement, due out at 2 p.m. EST, since Chairwoman Janet Yellen isn’t scheduled to hold a press conference and officials won’t release updated economic projections until March. Here are five things to watch out of the two-day policy meeting that starts Tuesday. 1 Flexible Messaging The Fed won’t raise its benchmark federal-funds rate on Wednesday... 2...
  • Will the Fed have to undo its rate hike?

    01/20/2016 8:49:58 AM PST · by Citizen Zed · 11 replies
    cnbc ^ | 1-19-2016 | Ron Insana
    Well, I guess we can rule out another rate hike in January. That's what economists are saying, not that anyone seriously believed that the Federal Reserve was going to engage in back-to-back hikes after promising that rates would go up only gradually in the months ahead. With Wall Street off to its worst annual start in history, stock prices have been but one indicator that the economy could slow in the weeks and months ahead. That should give the Fed pause. Stocks, of course, have not been the only market-based gauge to suggest that both the domestic, and global, economies...
  • Fed Sent Record $97.7 Billion in Profits to U.S. Treasury in 2015

    01/12/2016 8:49:57 AM PST · by Citizen Zed · 9 replies
    wsj ^ | 1-11-2016 | BEN LEUBSDORF
    WASHINGTON - The Federal Reserve handed over a record $97.7 billion in profits to the Treasury Department in 2015, according to preliminary figures released Monday.
  • The Deflation Monster Has Arrived

    01/16/2016 10:19:48 AM PST · by SkyPilot · 115 replies
    Zero Hedge ^ | 16 Jan 16 | Tyler Durden
    As we’ve been warning for quite a while (too long for my taste): the world’s grand experiment with debt has come to an end. And it’s now unraveling. Just in the two weeks since the start of 2016, the US equity markets are down almost 10%. Their worst start to the year in history. Many other markets across the world are suffering worse. If you watched stock prices today, you likely had flashbacks to the financial crisis of 2008. At one point the Dow was down over 500 points, the S&P cracked below key support at 1,900, and the price...
  • Atlanta Fed Waits Until The Close To Reveal 0.6% Q4 GDP Estimate

    01/15/2016 2:17:48 PM PST · by Nachum · 30 replies
    zero hedge ^ | 1/15/16 | tyler durden
    With less than half an hour until the close, we asked the Atlanta Fed - the most accurate predictor of GDP - which was scheduled to post an update of its Q4 GDP NowCast following today's ugly economic data, if it was was planning on releasing its latest Q4 GDP estimate before or after the close, something it usually does just before noon.
  • Federal Reserve will pay banks $12 billion in 2016

    12/24/2015 10:30:21 AM PST · by Toddsterpatriot · 15 replies
    Yahoo! Finance ^ | Dec 24, 2015 | Jared Blikre
    In 2016, the Federal Reserve will pay at least $12.2 billion to U.S. and foreign banks to keep the money created via its quantitative easing programs out of the economy. If the Fed raises rates as expected next year, the amount nearly doubles to $23.1 billion. From 2008 to 2015, the Fed purchased over $4 trillion worth of bonds to stimulate growth in the economy. Risk markets responded, as is demonstrated by the close correlation between the S&P 500 and growth of the Fed's balance sheet through its bond purchases.
  • 'Fediculous!' Why the Fed's Loose Money Sank the Economy

    12/17/2015 5:30:29 AM PST · by xzins · 27 replies
    CBN ^ | 12-17-2015 | Stephen Moore
    Nothing is more bungled in Washington than the role of money in our economy- and that's saying a lot. Almost no one understands how our dollar policy works, and those that say they do are the ones who screwed things all up. The Fed has today bid farewell to seven years of its zero interest rate policy. Hooray. Wall Street is petrified because investors have become hyper-dependent on this zero rate scheme and the floods of dollars injected into the economy just as an addict craves crack cocaine. But the high from easy money, just as with any hallucinogenic drug,...
  • Fed Hikes Rates, Unleashing First Tightening Cycle In Over 11 Years

    12/16/2015 3:50:54 PM PST · by Nachum · 8 replies
    zero hedge ^ | 1216/15 | tyler durden
    On the 7th anniversary of entering ZIRP, and for the first time since June 29th 2006, The Federal Reserve announced today that it will try and raise interest rates: *FED RAISES INTEREST RATES 0.25 POINT IN UNANIMOUS VOTE Of course, the flowery language and dots are as dovish as possible while maintaining some semblance of credibility with regard growth expectations as The Fed unleashes a tightening cycle for the first time in over 11 years.
  • Fed raises interest rates for first time nearly a decade, citing ongoing U.S. recover

    12/16/2015 1:07:38 PM PST · by SeekAndFind · 29 replies
    Reuters ^ | 12/16/2015 | BY HOWARD SCHNEIDER AND JASON LANGE
    The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signaling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis. The U.S. central bank's policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent, ending a lengthy debate about whether the economy was strong enough to withstand higher borrowing costs. "With the economy performing well and expected to continue to do so, the committee judges that a modest increase in the federal funds rate...
  • Fed Rate Hike Bad Timing for Crude Oil

    12/16/2015 12:16:04 PM PST · by bananaman22 · 6 replies
    Oilprice.com ^ | 16-12-2015 | Janet Yellen
    The Federal Reserve is about to raise interest rates for the first time in almost ten years and it couldn’t come at a worse time for the oil and gas industry. On the one hand, the oil boom was fueled by loose money from the Fed. With near-zero interest rates, money flowed into capital-intensive shale oil and gas drilling for many years. That succeeded in creating a production boom. But the boom was too successful – the glut caused prices to crash. In this sense, the Fed helped inflate the drilling bubble, which burst in 2014. Now the Fed is...
  • Janet Yellen sets jobs report floor at ... 100K?

    12/04/2015 8:18:08 AM PST · by SeekAndFind · 9 replies
    Hotair ^ | 12/04/2015 | Taylor Millard
    Federal Reserve Chair Janet Yellen made an interesting comment yesterday on today’s jobs report, suggesting the economy just needs to add around 100K jobs a month to be okay. Via Reuters: “To simply provide jobs for those who are newly entering the labor force probably requires under 100,000 jobs per month,” with anything above that helping “absorb” those who are unemployed, discouraged or had dropped out of the labor market, Yellen, who was speaking before Congress’ Joint Economic Committee, said in a question and answer session. That 100K number is much, much lower than the current 200K monthly average...
  • Cruz steps outside GOP orthodoxy with free-market criticism of Fed

    12/04/2015 7:39:10 AM PST · by Isara · 11 replies
    Washington Examiner ^ | 12/4/15 | Joseph Lawler
    For a Republican, Ted Cruz has a unique criticism of the Federal Reserve. The conservative Texas senator and contender for the GOP presidential nomination argues that the central bank is responsible for causing the financial crisis and recession because it kept money too tight in 2008. Cruz's criticism of the Fed is nearly the opposite of the one typically voiced by Republicans, who generally fault Chairwoman Janet Yellen and her predecessor Ben Bernanke for their efforts to ease money. GOP complaints about the Fed have grown since the central bank lowered interest rates to zero and started quantitative easing programs....
  • Why Are Democrats So Worried About A Fed Rate Hike?

    12/03/2015 4:16:20 AM PST · by expat_panama · 61 replies
    Investors Business Daily ^ | 12/02/2015 | Editorial
    Monetary Policy: Fed Chair Janet Yellen thinks the economy is so strong that the central bank can start raising rates this month. So why are Democrats alarmed? Because they know that the "Obama recovery" is hollow. It's true there have been marginal improvements in key economic indicators since 2008, as would be expected following the worst downturn since the Great Depression. But the "recovery" that was touted so loudly by Democrats until last year has also been the worst ever” 2% average growth. Now they're worried about the prospects of even a tiny hike in interest rates by the Fed....
  • The False Promise of a Rules-Based Fed [--AND THE GOLD STANDARD]

    11/27/2015 4:46:29 AM PST · by expat_panama · 12 replies
    Wall Street Journal ^ | Nov 25, 2015 | Greg Ip
    Last week the House of Representatives passed a bill that would bring about the most sweeping changes to the Federal Reserve since the 1930s. At the heart of the bill is a requirement that the Fed set interest rates according to a quantitative rule. Like advocates of the gold standard, proponents of the bill blame many of the economy’s ills on the Fed exercising too much discretion... [snip] Legislating a rule doesn’t do away with discretion, but makes it more likely discretion will be exercised only after the rule has failed, perhaps at great economic cost. [snip] In a dynamic...
  • New Law Would Force Fed To Do Its Job, So Why Does Fed Oppose It?

    11/23/2015 3:26:23 AM PST · by expat_panama · 28 replies
    Investors Business Daily ^ | 11/20/2015 | Editorial
    Monetary Policy: Congress is taking up a bill that would increase scrutiny of the Federal Reserve and better define its job. After years of badly executed and at times damaging central bank policy, it's about time. We share the misgivings of those who fear Congress micromanaging the economy through the Fed. In particular, Democrats seem prone to using the Fed as a giant piggy bank — such as the current foolish proposal to use Fed dividends to fund Congress' pet pork-barrel... [snip] So, yes, the ability of the Fed to do its job without daily political interference is important. But...
  • The Long, Cold Winter Ahead (Zero Hedge)

    11/22/2015 8:17:22 AM PST · by citizen · 28 replies
    Zero Hedge ^ | 11/22/2015 | Tyler Durden
    If you recall, the popular storyline since late last year has been that the U.S. economy is moderately improving while the world’s other major economies – Japan, China, and Europe – are rolling over. The U.S. economy would power through. Moreover, stock prices had achieved a permanently high plateau.
  • Yellen says research needed on unconventional policy tools

    11/12/2015 11:16:43 AM PST · by SaveFerris · 13 replies
    AP ^ | Nov 12, 10:38 AM EST | By MARTIN CRUTSINGER AP Economics Writer
    WASHINGTON (AP) -- Federal Reserve Chair Janet Yellen is stressing the need to review the unconventional monetary policies that central banks around the world deployed in response to the 2008 global financial crisis. She said Thursday that the post-crisis period offers policymakers an opportunity to assess the effectiveness of the tools and better understand the impact of new regulation. "Policymakers have to carefully weigh the advantages and disadvantages of alternative monetary implementation frameworks in the presence of new policy tools," Yellen said in remarks at a two-day research conference sponsored by the Fed. Policymakers should also be "mindful of new...
  • Bank Of Ireland Bans "Small" Cash Withdrawals At Branches

    11/05/2015 11:23:26 AM PST · by amorphous · 43 replies
    Zero Hedge ^ | 5 Nov 2015 | Tyler
    As central planners the world over grapple with the effective "lower bound" that's imposed by the existence of physical banknotes, there’s been no shortage of calls for a ban on cash. Put simply, if you eliminate physical currency, you also eliminate the idea of a floor for depo rates. After all, if people can't withdraw paper money and stash it under the mattress, then interest rates can be as negative as the government wants them to be in order to "encourage" consumption. If, for instance, you’re being charged 10% for saving your money, then by God you will probably spend...
  • Janet Yellen Says Negative Rates On The Table "If Outlook Worsened"

    11/04/2015 9:50:16 AM PST · by SeekAndFind · 65 replies
    Zero Hedge ^ | 11/04/2015 | Tyler Durden
    As the market now diligently calculates the suddenly surging odds of a December rate hike, here's Yellen with a preview of what will happen once the rate hike cycle is aborted... YELLEN SAYS IF OUTLOOK WORSENED FED MIGHT WEIGH NEGATIVE RATESYELLEN SAYS NEGATIVE RATES COULD HELP ENCOURAGE BANKS TO LEND ... just as it was aborted in Japan in August of 2000 when the BOJ also decided to send a signal how much stronger the economy is by hiking 25 bps, only to cut 7 months later and to proceed to monetize not only all net Japanese debt issuance...
  • Quantitative Easing and GOP Fear

    11/01/2015 4:18:26 PM PST · by celmak · 41 replies
    RushLimbaugh.com ^ | 10/30/15 | Rush Limbaugh
    RUSH: This is Bill in Warner Robins, Georgia. Great to have you on the program, sir. Hello. CALLER: Rush, quantitative easing and the threat of stopping it or tapering off, I think, is the reason why Republicans are afraid to have a government shutdown. I think either explicitly or tacitly, the Republicans have been told that the Fed would stop quantitative easing, 'cause it's the quickest and most direct way to go ahead and illustrate the impact of the federal government on the citizenry if you have the stock market takes a major hit. That's the only reason why I...
  • Is the Federal Reserve Really the Evil Empire?

    10/22/2015 6:17:34 PM PDT · by george76 · 6 replies
    Barrons ^ | October 21, 2015 | John Kimelman
    Two new books are reigniting a century-old debate about the central bank’s worthiness. So what do we think of the Federal Reserve, the people who run it, and the role it plays in setting short-term rates and even influencing investment portfolios? While the modern Fed has its supporters, the detractors seem to get most of the ink. As veteran financial journalist Roger Lowenstein wrote in a recent column for The Wall Street Journal, “No federal agency, except the Internal Revenue Service, is held in lower regard than the Federal Reserve, according to public opinion surveys. ... The never-ending debate about...
  • The Fed And The Great Depression: A Myth That Just Won't Die

    10/19/2015 5:46:45 AM PDT · by expat_panama · 24 replies
    Forbes ^ | Oct 18, 2015 | John Tamny
    ...the Fed is regularly being blamed for everything from inflation to acne, one of the seemingly more common and “credible” assertions is that the Fed somehow caused the Great Depression. This is one of those comical myths that just won’t die. [snip]...the latest of many commentators to argue that if the Fed had simply tinkered more effectively with so-called “money supply,” the Great Depression wouldn’t have been. As Wesbury and Stein put it, Milton Friedman set the record straight about the Great Depression.... [snip]Missed by what Friedman allegedly proved, what Bernanke supposedly verifies, and that Stein apparently agrees with, is...
  • Central bank cavalry can no longer save the world

    10/12/2015 12:14:19 PM PDT · by Lorianne · 8 replies
    Reuters ^ | 10 October 2015 | David Chance
    In 2008 central banks, led by the Federal Reserve, rode to the rescue of the global financial system. Seven years on and trillions of dollars later they no longer have the answers and may even represent a major risk for the global economy. A report by the Group of Thirty, an international body led by former European Central Bank chief Jean-Claude Trichet, warned on Saturday that zero rates and money printing were not sufficient to revive economic growth and risked becoming semi-permanent measures. "Central banks have described their actions as 'buying time' for governments to finally resolve the crisis... But...
  • Buried in the Fed minutes is another downgrade to the U.S. economy

    10/10/2015 11:17:56 AM PDT · by Lorianne · 18 replies
    Market Watch ^ | 09 October 2015 | Gregg Rob
    A goal of a 4% economy? That objective, mentioned frequently in the 2016 presidential race, is getting farther away, according to the latest projections from the staff of the Federal Reserve. Minutes of the Fed’s Sept. 16-17 policy meeting disclose the Fed staff further trimmed its assumptions for the rates of productivity and potential growth over the medium term. The minutes did not specifically quantify the new forecast of the Fed’s in-house economists. The Fed staff’s view was already gloomy. A mistaken leak this summer by the U.S. central bank revealed, going into the Fed’s June policy committee meeting, the...
  • Global Financial Wars — What’s Going On?

    10/10/2015 1:20:32 PM PDT · by 100American · 6 replies
    A very interesting and I think true analysis of the Financial aspects of The Big Plan ... Enjoy and look forward as always to your insights...
  • Week Ahead: Fed Minutes and Data

    10/04/2015 3:47:39 PM PDT · by citizen · 17 replies
    Fox Business ^ | October 02, 2015 | ˇFOXBusiness
    While the decision to delay was nearly unanimous – there was one dissenter – nearly the same amount of FOMC members said they also believe rates will move higher before the end of the year. That sentiment may have changed given the release of Friday’s much-worse-than-expected jobs report, but the minutes should provide some additional insight into why the Fed held off on a rate hike and when they might actually pull the trigger. The minutes will be released Thursday at 2 p.m. Also scheduled for release next week are: the ISM Non-manufacturing index on Monday; a report on international...