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Keyword: fed

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  • Week Ahead: Fed Minutes and Data

    10/04/2015 3:47:39 PM PDT · by citizen · 17 replies
    Fox Business ^ | October 02, 2015 | ·FOXBusiness
    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...
  • "They Just Don't Want A Job" - The Fed's Grotesque "Explanation" Why 94.6 Million Are Out Of

    10/02/2015 5:55:32 PM PDT · by Nachum · 46 replies
    zero hedge ^ | 10/2/15 | tyler durden
    In a note seeking to "explain" why the US labor participation rate just crashed to a nearly 40 year low earlier today as another half a million Americans decided to exit the labor force bringing the total to 94.6 million people...... this is what the Atlanta Fed has to say about the most dramatic aberration to the US labor force in history: "Generally speaking, people in the 25–54 age group are the most likely to participate in the labor market. These so-called prime-age individuals are less likely to be making retirement decisions than older individuals and less likely to be...
  • Here’s what Wall Street isn’t telling you about this stock market

    09/30/2015 6:38:45 AM PDT · by SkyPilot · 16 replies
    Market Watch ^ | 30 Sep 15 | Barbara Kollmeyer
    Welcome to the worst day of the year for investors, though you wouldn’t know it by looking at stock futures this morning. Thank the portfolio window-dressers or bouncy dead cats, but the market looks set to fly. Anyway, that gloomy prognosis for the day fits nicely with the disastrous end to the quarter we’re headed for, set to finish with 8% to 9% losses for the big U.S. indexes. The quarter has delivered the biggest point declines for the Dow industrials DJIA, +1.41% and the Nasdaq Composite COMP, +1.82% since the end of 2008, and the biggest for the...
  • Fed Audit Shocker: They Come from Planet Klepto(maniac)

    09/20/2015 2:17:29 PM PDT · by entropy12 · 5 replies
    Youtube ^ | Sep 14, 2015 | Best Evidence
    While the world breathlessly awaits the outcome of this week’s FOMC meeting—will the Federal Reserve raise interest rates or won’t it?—one thing is clear regardless: the Fed is driving the U.S. into a 2nd depression in order to carry out its one and only remit now that America’s ability to produce real jobs has been reduced to ash, namely, propping up criminal banks with multi-trillion-dollar giveaways. What’s so disturbing about the fatal path that the Fed has been on for 7 years is that it's one the Fed went down before, when—by its own admission—it extended and deepened the Great...
  • Banks are threatening more layoffs if the Fed doesn't hike

    09/19/2015 10:37:18 AM PDT · by SeekAndFind · 16 replies
    Business Insider ^ | 09/19/2015 | Wolf Richter
    “Let me assure you, if the revenue environment weakens or interest-rate structures don’t move up, and the economy slows down, we’ll have to take out more costs,” Bank of America CEO Brian Moynihan said on Thursday at the Barclays Global Financial Services Conference. And that would mean more job cuts.BofA is famous for whittling down its headcount in recent years. In Moynihan’s 25-slide presentation, there was this chart that shows just how skillfully he has trimmed down his workforce, chopping it by 25% overall since the second quarter of 2011:Wolf Street So if, as he said, “interest-rate structures don’t move...
  • US Federal Reserve holds rates steady in nod to global economic weakness

    09/17/2015 1:10:52 PM PDT · by SeekAndFind · 4 replies
    The Economic Times ^ | 09/17/2015 | Via Reuters
    WASHINGTON: The US Federal Reserve kept interest rates unchanged on Thursday in a nod to concerns about a weak world economy, but left open the possibility of a modest policy tightening later this year. In what amounted to a tactical retreat, the US central bank said an array of global risks and other factors had convinced it to delay what would have been the first rate hike in nearly a decade. "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," the Fed said in...
  • Federal Reserve Interest Rate Decision: Janet Yellen, FOMC Leave Rates Unchanged

    09/17/2015 11:06:00 AM PDT · by tcrlaf · 44 replies
    IBT ^ | 9-16-2015 | Jessica Menton
    In one of the most widely anticipated Federal Reserve decisions in decades, the U.S. central bank left interest rates unchanged Thursday. The Fed's pronouncement to leave rates at historic lows—where they’ve been since roughly the start of the Great Recession in 2008—signals that the U.S. economy has yet to fully recover from the near collapse. Market professionals are now looking ahead to a press conference from Fed Chair Janet Yellen at 2:30 p.m. EDT, searching for further hints as to the timing of the Fed’s future course of rate hikes. “Uncertainty from the Fed has been the biggest issue,” Stephen...
  • U.S. Equity Futures Slip as Fed's Rate Decision Looms

    09/17/2015 5:37:33 AM PDT · by citizen · 62 replies
    Fox News Business ^ | September 17, 2015 | Victoria Craig
    Fed decision day: The event traders across the globe have anticipated for months has finally arrived. As of 8:00 a.m. ET, Dow Jones Industrial Average futures were 43 points lower, or 0.26% to 16621. S&P 500 futures shed 6 points, or 0.31% to 1982, while Nasdaq 100 futures slid 10 points, or 0.24% to 4370. Today’s Markets Months of speculation about whether September was the month in which the Federal Reserve would begin to lift short-term interest rates is finally coming to a close. The Federal Open Market Committee meets for the final day of its two-day policy-setting meeting, which...
  • US interest rate rise could trigger global debt crisis

    09/14/2015 7:50:38 AM PDT · by SkyPilot · 10 replies
    The Telegraph ^ | 13 Sep 15 | Telegraph Staff
    Global debt levels are dangerously high and central banks cannot keep the game going indefinitely, warns the high priest of orthodoxy Debt ratios have reached extreme levels across all major regions of the global economy, leaving the financial system acutely vulnerable to monetary tightening by the US Federal Reserve, the world's top financial watchdog has warned. The Bank for International Settlements said the wild market ructions of recent weeks and capital outflows from China are warning signs that the massive build-up in credit is coming back to haunt, compounded by worries that policymakers may be struggling to control events. "We...
  • Traders Exercise Caution Ahead of Fed Meeting

    09/14/2015 7:16:35 AM PDT · by citizen · 11 replies
    FOX Business ^ | September 14, 2015 | Victoria Craig
    U.S. equity markets were lower Monday morning as traders anxiously awaited this week’s Federal Open Market Committee meeting. As of 9:50 a.m. ET, the Dow Jones Industrial Average fell 81 points, or 0.50% to 16350. The S&P 500 shed 8 points, or 0.45% to 1952, while the Nasdaq Composite declined 16 points, or 0.33% to 4806. Today’s Markets Wall Street waited with bated breath for the outcome of the Federal Reserve’s two-day, policy-setting meeting this week, which begins Wednesday and ends with a statement on monetary policy the day after. In recent weeks, forecasts for a September rate hike have...
  • "We Made It Wider!" Hank Paulson Bursts Out Laughing When Asked About Wealth Inequality

    09/07/2015 7:31:14 AM PDT · by Cheerio · 28 replies
    Zerohedge ^ | 09/06/2015 | Tyler Durden
    A few months ago, a hurt Ben Bernanke put on his blogger hat and set out to explain why, in his mind, the unconventional policies undertaken by the Fed in the post-crisis years have not contributed to record income inequality. As we noted at the time, epic hilarity ensued. Bernanke’s explanation went something like this: while QE does indeed inflate asset prices, poor people have been getting poorer for quite some time, so sure, maybe the Fed contributed a little bit, but probably not a whole lot and besides, the more Keynes the better when it comes to smoothing out...
  • Rattled investors brace for big week as Federal Reserve considers rate increase

    08/31/2015 3:55:28 AM PDT · by expat_panama · 10 replies
    The Guardian ^ | Sunday 30 August 2015 | Rupert Neate
    After a tumultuous week on the world’s stock markets, investors will be focused on Wall Street Monday ahead of another set of economic reports likely to steer the Federal Reserve’s decision on whether to raise interest rates for the first time in almost a decade. The markets open Monday as investors digest news that the Fed is still actively considering a September rate hike. In a speech on Saturday, Stanley Fischer, the vice-chair of the Fed’s Board of Governors, suggested inflationary pressures could soon lead to an increase. His comments are likely to add to the volatility of already skittish...
  • Who Is Really Crazy, ‘End The Fed,’ Or The Fed Itself?

    08/28/2015 2:15:11 PM PDT · by absentee · 19 replies
    The American Spectator ^ | 8/28/2015 | Caleb Howe
    On Friday morning at the Jackson Hole Summit, Judy Shelton of the Sound Money Project and Atlas Network spoke on the subject of the gold standard and addressed the perception that people who even dare to mention it are lunatics or, as The American Spectator noted earlier today, Quixotic. Shelton's presentation focused in the main on the numbers and the policies. Dr. Shelton pointed out that the Fed can't seem to face up to a simple, apparent, easily understood fact: Their policies aren't working. "The difference between our summit, and the one the Feds are holding up the road, is...
  • Former Fed Official’s Sage Comments: Investors ‘hooked on the heroin of quantitative easing’

    08/27/2015 6:37:53 PM PDT · by SkyPilot · 13 replies
    Economic Collapse News ^ | 26 Aug 15 | Andrew Moran
    Former Dallas Federal Reserve President Richard Fisher made sound remarks when discussing the current market meltdown with CNBC on Tuesday. Although he is incorrect in his assertion that the United States central bank will do what’s right for the national economy and avoid monitoring daily activity reports, he was right that investors are addicted to easy money from quantitative easing, otherwise known as QE. “I don’t think there is a single member of the FOMC that’s going to react to one day’s market activity,” Fisher told the business news outlet. “Nobody on that committee would like to see that continue,...
  • US Federal Reserve still expected to raise interest rates

    08/26/2015 5:12:03 AM PDT · by expat_panama · 48 replies
    The Irish Times ^ | Wed, Aug 26, 2015 | Simon Carswell
    China’s stuttering economy might come more strongly into view from the Rocky Mountains at this week’s Jackson Hole meeting of central bankers following the chaos in the stock markets. Many economists still expect the Federal Reserve to stay the course and start raising interest rates this year. Despite the wild see-sawing of US stocks after China’s “Black Monday” meltdown, the bet is on the central bank to move soon and start weaning the US off rates that have stayed near zero since 2008. The annual policy conference in the Grand Teton National Park in Wyoming, starting onon Thursday, has traditionally...
  • U.S. Stock Market Correction Not Made In China – Ep.104

    08/24/2015 2:34:18 PM PDT · by fishtank · 9 replies
    Schiff Radio ^ | 8-21-2015 | Peter Schiff
    U.S. Stock Market Correction Not Made In China – Ep.104 August 21st, 2015|0 Comments What a week for global stock markets, but in particular, the U.S. stock market, which had its worst week in 4 years The Dow Jones down better than 1,000 points – over 10% from its peak puts it in official correction territory One-third of the stocks in the S&P 500 are already down 20% from their highs The Dow lost more than half of the 1,000 points today – 530 points, which is the 9th biggest point decline ever This is on top of the 350...
  • The Federal Reserve's foolishness is coming due

    08/24/2015 7:05:22 AM PDT · by SeekAndFind · 8 replies
    American Thinker ^ | 08/24/2015 | By James Longstreet
    All one needs to do is turn to the financial shows and get a litany of “financial experts” blaming the Federal Reserve and its coming rate hike for the recent market break. They are incorrect. The recent break in equity prices is not about a proposed and measly ¼ point rise in rates off of zero. Short term rates were between 4% and 5% in 2007 when the stock market made a then all time high of 14,000. Hand wringing over a ¼ pt raise is curious. The Federal Reserve’s mere hinting of a meager raise didn’t roll the Chinese...
  • Ben Bernanke: being in the military won't actually help you in the real world

    08/17/2015 7:24:08 PM PDT · by Hombre Malevo · 85 replies
    Foreign Policy magazine ^ | 08/17/2015 | John Hudson
    The U.S. military has spent tens of millions of dollars on TV advertising promoting the armed forces as a great way to acquire skills and training that will pay dividends in the private sector. But on Monday, one of the country’s most respected observers of the U.S. labor force, former Federal Reserve Chairman Ben Bernanke, directly contradicted that message.
  • Donald Trump Should Apologize to China, and Turn His Wrath On the Fed

    08/17/2015 7:08:53 AM PDT · by SeekAndFind · 18 replies
    RCM ^ | 08/17/2015 | Louis Woodhill
    On Tuesday, August 11, China began devaluing its currency unit, the yuan against the U.S. dollar. Later that day, Republican presidential candidate Donald Trump denounced China, saying: "I think you have to do something to rein in China. They devalued their currency today. They're making it absolutely impossible for the United States to compete, and nobody does anything." For a candidate whose pitch is based upon being smarter than everyone else, Trump has taken a spectacularly stupid position with respect to China-not just economically, but politically. After all, it was less than three years ago that Mitt Romney threw away...
  • If The Fed Is Always Wrong How Can Its Policies Ever Be Right?

    08/16/2015 6:02:38 AM PDT · by expat_panama · 34 replies
    Forbes ^ | 8/15/2015 | Ralph Benko
    One of the most curiously persistent surrealisms of Washington, DC is the reflexive deference given the Federal Reserve System. The Washington elite tends to accord more infallibility to the Fed than do Catholics the Pope.... [snip] The big question is whether Fed officials can get it right after years in which they have regularly predicted a stronger economy than the one that materialized... [snip] ...let’s be blunt. If NASA suffered from comparable inaccuracy the manned spaceflight program would have been shut down by an endless series of Challenger-type catastrophes many years ago. With forecasts this bad is it any wonder...
  • Bone-Smoking Nonsense

    08/14/2015 12:16:13 PM PDT · by SatinDoll · 3 replies
    The Market-Ticker ^ | August 14, 2015 | Karl Denninger
    The amusement is strong from this one.... The economy has made great gains and is approaching an acceptable normal. Policy should shortly acknowledge this reality. The Fed took extraordinary policy measures in response to extraordinary economic conditions. Conditions are no longer extraordinary. Compared to earlier in the year, we know a lot more and can shelve some concerns. We appear to be past the most acute concerns of a spillover from Europe. I have more confidence in the resilience of the economy today compared to even a few months ago. I am much less concerned about a reversal of economic...
  • The Fed's Trade-Off Between Inflation And Jobs Is A Myth

    08/13/2015 6:36:52 PM PDT · by expat_panama · 23 replies
    Investors Busniness Daily ^ | Aug 13, 2015 | JAMES A. DORN
    The idea that there's a trade-off between inflation and unemployment seems embedded in the Federal Reserve's psyche. The Fed has not increased its benchmark federal funds target rate since 2006. It's waiting to see if a tighter labor market will push up wages and prices, so the Fed can achieve both full employment and its inflation target of 2%. The Fed's adherence to a negatively sloped Phillips curve — predicting lower unemployment obtained by higher inflation — is a flawed model for monetary policy. Indeed, money doesn't even enter the analysis, because the implicit assumption is that inflation is caused...
  • Soft Patch Might Ground the Fed's Liftoff [Not just China]

    08/13/2015 4:13:20 AM PDT · by expat_panama · 13 replies
    Real Clear Markets ^ | August 13, 2015 | Robert Samuelson
    For many months, economy watchers have been obsessed with "liftoff": the moment the Federal Reserve raises short-term interest rates, which have been held close to zero since late 2008. Fed Chairwoman Janet Yellen has indicated that, if the economy grows as it has, that moment would come "at some point this year" - generally taken to mean either the September or December meeting of the Federal Open Market Committee (FOMC), the Fed's key decision-making body. Frankly, I've assumed that it's a done deal. The economy seems to be growing solidly, if not spectacularly. After a rough winter, gross domestic product...
  • Erick Erickson Disinvites Trump From Red State Gathering Over Megyn Kelly Insults

    08/07/2015 10:46:29 PM PDT · by kristinn · 377 replies
    The Daily Caller ^ | Saturday, August 8, 2015 | Kerry Picket
    Red State’s Erick Erickson dis-invited GOP presidential candidate and businessman Donald Trump after he insulted Fox News anchor and Thursday night’s debate moderator Megyn Kelly during a CNN interview Friday night. I have rescinded my invitation to Mr.Trump. While I have tried to give him great latitude, his remark about Megyn Kelly was a bridge too far — Erick Erickson (@EWErickson) August 8, 2015 “Well I just don’t respect her as a journalist. I have no respect for her. I think she’s highly overrated. But when I came out there what was I doing I’m not getting paid for this....
  • Raising interest rates with zero inflation is a hard sell

    08/05/2015 6:10:02 AM PDT · by expat_panama · 50 replies
    Yahoo Finance ^ | Wed, Aug 5, 2015 | Mike Dolan
    LONDON (Reuters) - Americans and Britons bracing for their first interest rate rises in almost a decade are puzzled: why are rates about to go up when there's no inflation? Both the Federal Reserve and Bank of England are proclaiming that they are on the cusp of raising interest rates for the first time in almost a decade. It may take a few months, but the message they are sending still heavily-indebted households either side of the Atlantic is clear: 'be warned'. It's not hard to see why near-zero interest rates should be 'normalized' when you do a quick economic...
  • Federal Reserve blames immigrant kids for robbing jobs from 'native' U.S. teens

    07/19/2015 7:54:58 AM PDT · by GoneSalt · 38 replies
    Washington Examiner ^ | July 16, 2015 | Paul Bedard
    American teen employment has dropped 20 percent from the late 1980s, in part because more and more immigrants have flooded into the market to displace native-born kids from jobs in percentages far higher than on adults, according to the Federal Reserve. "The displacement effect of immigration on the employment of younger persons is much larger than on the employment of prime-age adults," said the September 2014 report, "Labor Force Participation: Recent Developments and Future Prospects."
  • Will Fed Delay Rate Hike Due To Greece, China Woes?

    07/10/2015 4:29:53 AM PDT · by expat_panama · 31 replies
    "Give me a one-handed economist!" Harry Truman once lamented. "All my economists say, on the one hand ... on the other hand ..." Though they're all economists themselves, Federal Reserve policymakers must be thinking along the same lines as they try to assess when to pull the trigger on the first interest rate hike in nearly a decade. On the one hand, the U.S. economy is sound. Hiring is robust, housing is finally picking up, consumers are shopping more, and even manufacturing may have stabilized after a series of shocks in the winter. On the other, fears about Greece exiting...
  • Has the Federal Reserve Sold the Gold at Fort Knox?

    07/09/2015 9:41:27 AM PDT · by HomerBohn · 76 replies
    The New American ^ | 7/8/2015 | Joe Wolverton
    famed Fort Knox is a facility managed by the U.S. Mint. Curiously, however, in a recent exchange of e-mails with a gold investment blog, the former director of that agency demonstrates a disturbing lack of knowledge about the precious metal supposedly stored there. And the Federal Reserve may be hiding the location and value of the allegedly missing bullion. On July 1, Koos Jansen of published another in a series of posts exploring the fate of the gold allegedly kept in vaults at Fort Knox, Kentucky. In his latest article, Jansen makes some startling claims that if proven true,...
  • Yellen says the Fed will be less predictable

    07/01/2015 4:57:07 AM PDT · by expat_panama · 27 replies
    Yahoo Finance ^ | February 25, 2015 | Joanna Campione
    ...Federal Reserve chair told the Senate Banking Committee on Tuesday the central bank is in no hurry to raise interest rates. Yellen once again stressed the word "patience." On Wednesday, she appears before the House of Representatives' Financial Services Committee. Yellen talked about a solid and improving economy but also about disappointing labor force participation and anemic wage growth. She said it would be several months before the Fed would boost rates. Stocks soared on the news with both the S&P 500 and Dow closing at record highs. The Nasdaq also saw healthy gains and is now less than 1%...
  • In Dramatic Decision Judge Finds Fed Bailout Of AIG Was "Illegal", Government "Violated Federal

    06/15/2015 5:16:28 PM PDT · by Nachum · 24 replies
    Zero Hedge ^ | 6/15/15 | Tyler Durden
    Earlier today, former AIG head Hank Greenberg's long-running legal battle of the US government came to a dramatic end when in a 75-page ruling, U.S. Court of Claims Judge Thomas Wheeler found that Greenberg was indeed correct in claiming the government overstepped its legal boundaries in its "unduly harsh treatment of AIG in comparison to other institutions" which was "misguided and had no legitimate purpose." But because “the question is not whether this treatment was inequitable or unfair, but whether the government’s actions created a legal right of recovery for AIG’s shareholders" Wheeler found that Greenberg was not owed any...
  • Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"

    06/13/2015 2:12:39 PM PDT · by Rockitz · 78 replies ^ | 13 Jun 2015 | Tyler Durden
    The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now - as we noted was possible previously - Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed's vaults to a newly established state gold bullion depository..."People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold," and the Bill includes a section to prevent forced seizure from the Federal Government. From 2011: "The University of Texas Investment Management...
  • BREAKING: Texas Signs Bill to Get GOLD from Fed

    06/14/2015 4:51:00 PM PDT · by dontreadthis · 75 replies
    Resistance Journals ^ | June 13, 2015 | Andrew Pontbriand
    While the country was focused on the McKinney, and the Dallas Police shooting, another huge incident was occuring in the Lone Star State. You actually may be able to call it the Lone Gold Depository State. On June 12, 2015, Texas Gov. Greg Abbott signed a bill establishing the nation’s first state-level gold depository, an important first step towards gold and silver as commonly-used legal tender in the state. If proper measures are taken, Texas citizens could in fact use gold and silver for tender of payment through checks and paper money on new deposits. Legally speaking, gold and silver...
  • IMF Panics - Slashes US Growth Forecasts, Demands Fed Stay On Hold For Another Year

    06/04/2015 8:50:33 AM PDT · by tcrlaf · 15 replies
    Zerohedge ^ | 6-4-2015 | Durden
    Anxiety over financial stability and shadow banking risks appear to have force Christine Lagarde and her fellow extrapolators to hit the panic button: -IMF CUTS U.S. 2015 GROWTH FORECAST TO 2.5% FROM 3.1% -FED SHOULD WAIT FOR TANGIBLE SIGNS OF WAGE, PRICE GAINS: IMF -DOLLAR `MODERATELY OVERVALUED, CURBING U.S. GROWTH, JOBS: IMF -IMF URGES FED TO DELAY FIRST RATE INCREASE UNTIL 1H 2016 Adding that they viewed the Dollar as "moderately overvalued" and any more appreciation would be "harmful," it seems global disinflationary pressures have left the IMF no choice but to say publicly what everyone has uttered under their...
  • The Fed Has Been Horribly Wrong, Deutsche Bank Admits-Dares To Ask If Yellen Planning Housing Crash

    06/01/2015 9:08:14 AM PDT · by tcrlaf · 26 replies
    Zerohedge ^ | 6-1-2015 | Durden
    The reason why Zero Hedge has been steadfast over the past 6 years in its accusation that the Fed is making a mockery of, and destroying not only the very fabric of capital markets (something which Citigroup now openly admits almost every week) but the US economy itself (as Goldman most recently hinted last week when it lowered its long-term "potential GDP" growth of the US by 0.5% to 1.75%), is simple: all along we knew we have been right, and all the career economists, Wall Street weathermen-cum-strategists, and "straight to CNBC" book-talking pundits were wrong. Not to mention the...
  • Fed’s Bullard says he now favors targeting nominal GDP

    05/28/2015 10:12:50 AM PDT · by Oldeconomybuyer · 2 replies
    Market Watch ^ | May 28, 2015 | By Greg Robb
    The uneven results of the Federal Reserve’s monetary policy since the financial crisis should cause new thinking about how to conduct interest rate policy, said St. Louis Fed President James Bullard on Thursday in advocating for a new, controversial target. Standard economic theory predicted that the Fed’s decision to leave rates at zero and buy trillions of dollars of bonds would result in a consumption boom and above-average inflation, but that has not happened, sending economists back to the drawing board. Under Bullard’s proposal, the Fed would set an overall inflation target. In good times, the central bank would keep...
  • The Fate of the Fed's Exit Strategy Is In Foreign Hands

    05/22/2015 5:46:26 AM PDT · by expat_panama · 14 replies
    Real Clear Markets ^ | May 22, 2015 | Jeffrey Snider
    In all this talk about whether the economy will be strong enough to support the first policy change of this cycle, and how utterly sad it is to even have to argue about it, the larger issues about the exact operational framework remain largely unexamined. The intent of the FOMC is to undergo an orderly transition from extraordinary policy positions toward a setting more like normal. To go from A to B is not as simple as plugging in a new number, a fact that Federal Reserve officials are very quietly dealing with. The Fed has a repo problem, one...
  • Fed said to have emergency plan to intervene if U.S. defaulted on debt

    05/12/2015 1:12:16 PM PDT · by Citizen Zed · 26 replies
    Reuters ^ | 5-11-2015 | Sarah N. Lynch and Jason Lange
    The Federal Reserve drew up extensive plans for handling a U.S. debt default that included scheduling deferred payments and lending cash to investors, according to a lawmaker who cited Fed documents. America courted disaster in 2011 and 2013 when political fights over the national debt nearly left the federal government unable to pay its bills. Analysts and officials warned that missing payments could lead to economic calamity, and details have only slowly emerged over how financial officials braced for the unthinkable. In a June 2014 letter to Treasury Secretary Jack Lew seen by Reuters on Monday, Republican Representative Jeb Hensarling...
  • Fed Chair Yellen says stock market prices 'quite high'

    05/06/2015 10:49:36 AM PDT · by xzins · 70 replies
    Yahoo Finance ^ | 6 May 15 | Martin Crutsinger
    Federal Reserve Chair Janet Yellen on Wednesday described stock market valuations as high and said the central bank was carefully monitoring their impact on financial stability. "I would highlight that equity market valuations at this point generally are quite high," Yellen said in conversation with Christine Lagarde, managing director of the International Monetary Fund, at an economics conference. Coupled with weak economic reports in the morning, her remarks drove stocks broadly lower in Wednesday trading. Yellen added, however, that the overall risks to financial stability are "moderated, not elevated" and she does not see the hallmarks of any bubbles. She...
  • NY Fed's "Plunge Protection Team" Starts Chicago Trading Floor "In Case Of Disaster..."

    04/17/2015 10:00:37 AM PDT · by Enlightened1 · 17 replies
    Zero Hedge ^ | 4/15/15 | Tyler Durden
    What kind of natural disaster would be bad enough to completely shut down the operations of the New York Federal Reserve Bank? It would have to be something very unusual, and apparently the New York Fed is very concerned that such an event could happen. According to Reuters, the New York Fed has been transferring personnel to Chicago and building up its satellite office there just in case a “natural disaster” makes it impossible for normal operations to continue in New York…
  • Dire costs of easy Fed now and later: Jim Grant

    04/08/2015 4:14:03 PM PDT · by 9thLife · 7 replies
    cnbc ^ | Tuesday, 7 Apr 2015 | 8:38 AM ET | Matthew J. Belvedere | @Matt_Belvedere
    Closely followed market watcher Jim Grant disputes the argument that there's no harm in the Federal Reserve keeping interest rates near zero percent—calling for the cost of borrowing money to be determined by the free market. He said Tuesday the price of the central bank's persistent easy money policies is on display currently in the form of stifling American enterprise and sending millions of people from the workforce "more or less permanently." "The prospective cost is the unmasking of the misallocations of capital that will have come about through the levitation of asset prices," including real estate, Grant said. "If...
  • Federal Reserve Branch Downgrades Projected GDP Growth to 0%

    04/02/2015 10:23:48 AM PDT · by therightliveswithus · 15 replies
    The Pundit Press ^ | 4/2/2015 | Thomas
    The Atlanta Federal Reserve Bank appears to be betting against the American economy. The branch believes that the national economic growth rate has fallen dramatically. Blaming the downgrade on issues such as harsh weather, the projected growth rate has been slashed several times already, now down to zero. First quarter growth has slipped from an already anemic near 2.0% continually down. This comes as Americans have more money to spend from falling gas prices. Many factors are going into the decision, which mirrors similar moves during previous winters. The Fed believes that much of the slowdown is due to the...
  • Ex OMB chief Stockman: "It is the biggest speculative disaster in human history."

    03/31/2015 7:59:48 PM PDT · by concernedcitizen76 · 52 replies
    Zero Hedge ^ | March 01, 2015 | Tyler Durden
    David Alan Stockman interviewed on CBS-TV 60 Minutes (October 2010) Highlights of recent interview by Harry Dent. David Stockman: People don't want to hear the reality and the truth that we're facing. But I think there is an enormous appetite out in the country to get a different perspective than what you have from the media day in and day out, so I say the fed is out of control. Its balance sheet is exploded. It's printing money like never before. Zero interest rates for 70 months have basically destroyed the pricing function in the financial markets. I said...
  • Why The Fed Ended QE And Why They Can’t Restart It

    03/24/2015 1:54:38 PM PDT · by Signalman · 16 replies
    Dick Morris ^ | 3/24/2015 | Dick Morris
    Many stock market investors have, in the back of their minds, the comforting illusion that the Quantitative Easing with which the Fed showered Wall Street during the past three years could restart if the market falters. (Under Quantitative Easing, the Fed gave banks $85 billion each month to help stimulate lending and spending and to drive up stock prices). Some also see that the impending rise in interest rates can be reversed if the economy begins to drop. Both assumptions are really illusions. The factors that impelled an end to Quantitative Easing and to higher interest rates rule out a...
  • Government Orders Bank Tellers To Alert Police About Your Cash Withdrawals

    03/23/2015 4:38:37 PM PDT · by amorphous · 88 replies ^ | March 23rd, 2015 | Mac Slavo
    How can you tell if you’re living in a police state? The short answer is that you’re living in a police state when everyone becomes a suspected criminal or terrorist. And if the following report is any indicator, then welcome to the Reich. The Justice Department has ordered bank tellers across America to contact law enforcement if they suspect your cash withdrawal may have something to do with illicit activity. There doesn’t need to be proof, or any sort of red flag indicator – merely suspicion by the bank teller processing your transaction is now enough to have you investigated...
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 11 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • Fed ‘Stress Tests’ Still Pose Puzzle to Banks

    03/13/2015 7:44:27 PM PDT · by Usagi_yo · 7 replies
    Six years after the Federal Reserve’s “stress tests” began, the biggest Wall Street banks still are straining to decipher them. ...
  • Wall St. Drops After Strong Jobs Report Spurs Fears of an Earlier Rate Increase by Fed

    03/06/2015 12:29:10 PM PST · by SeekAndFind · 37 replies
    New York Times ^ | 03/06/2015
    News of a burst of hiring last month sent bond prices lower and the dollar higher in early trading on Friday, while the stock market opened lower. Apple rose 1 percent after it was announced that the company would be joining the Dow Jones industrial average, replacing AT&T. AT&T fell 1 percent. KEEPING SCORE The Dow fell 0.98 percent and the Standard & Poor’s 500-stock index was down 0.85 percent. The Nasdaq composite index dropped 0.60 percent. MORE JOBS United States employers extended a healthy streak of hiring in February by adding 295,000 jobs, the 12th straight monthly gain above...
  • Janet Yellen Is Freaking Out About ‘Audit The Fed’ – Here Are 100 Reasons Why She Should Be

    02/25/2015 5:06:17 AM PST · by HomerBohn · 32 replies
    State Of Globe ^ | 2/25/2015 | Michael Snyder
    Janet Yellen is very alarmed that some members of Congress want to conduct a comprehensive audit of the Federal Reserve for the first time since it was created. If the Fed is doing everything correctly, why should Yellen be alarmed? What does she have to hide? During testimony before Congress on Tuesday, she made “central bank independence” sound like it was the holy grail. Even though every other government function is debated politically in this country, Yellen insists that what the Federal Reserve does is “too important” to be influenced by the American people. Does any other government agency ever...
  • President Paul? Wall Street on high alert

    02/17/2015 9:35:15 PM PST · by entropy12 · 42 replies
    Politico ^ | 2/16/15 10:43 PM EST | Ben White & Katie Glueck
    Rand Paul traveled to Des Moines, Iowa, recently and delivered a sure-fire applause line. “Anybody here want to audit the Fed?” the Kentucky senator asked. “Anybody feel that the Fed’s out to get us?” He followed it up with an op-ed comparing the Federal Reserve to Lehman Brothers and calling it essentially bankrupt. The bash-the-Fed routine, perfected by Paul’s father, former Texas congressman Ron Paul, is political gold with libertarian voters suspicious of all federal authority, especially a central bank with a $4.5 trillion balance sheet.
  • Fate of 'Audit the Fed' rests in Dem (& Hussein's) hands

    02/16/2015 6:05:14 PM PST · by Libloather · 7 replies
    The Hill ^ | 2/16/15 | Peter Schroeder
    A long-running campaign to fully subject the Federal Reserve to outside review could come down to a handful of moderate Democrats. The “Audit the Fed” movement has grown from an oddball pet project of former Rep. Ron Paul (R-Texas) into legislation that was passed with broad bipartisan majorities in the House two Congresses running, before stalling in Democratic-led Senates. With Sen. Rand Paul (R-Ky.) looking to follow in his father’s footsteps with a new audit bill, the prospects of a GOP-controlled Congress actually sending a measure to the president is more real than it has ever been before. But clearing...