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Keyword: fed

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  • Dow Industrials keep 20,000 in sight with Fed speakers ahead

    01/09/2017 4:27:21 AM PST · by John W · 3 replies ^ | January 9, 2017 | Barbara Kollmeyer
    U.S. stock futures indicated a slow start for Wall Street on Monday, but the Dow industrials may have another run at 20,000, after barely missing the psychologically important level in the last session. Comments from a lineup of Federal Reserve speakers later today and the lead-in to earnings season could help provide impetus. “European equity markets have opened slightly weaker this morning after Asian markets unwound some of the gains overnight, but with Dow futures only moderately lower, there is still potential for the market to turnaround later this afternoon and have another run at the number,” said James Hughes,...
  • Federal Reserve Initiates End Game As Trump Heads To White House

    12/22/2016 9:46:00 PM PST · by Trump_vs_Evil_Witch · 106 replies
    Zero Hedge ^ | 12-22-2016 | Tyler Durden
    For years, alternative economic analysts have been warning that the “miraculous” rise in U.S. stock markets has been the symptom of wider central bank intervention and that this will result in dire future consequences. We have heard endless lies and rationalizations as to why this could not be so, and why the U.S. “recovery” is real. At the beginning of 2016, the former head of the Dallas branch of the Federal Reserve crushed all the skeptics and vindicated our position in an interview with CNBC where he stated
  • The Fed may ruin one of Trump's biggest plans for the economy

    12/22/2016 2:58:45 AM PST · by expat_panama · 18 replies
    Business Insider ^ | Dec. 21, 2016 | Bob Bryan
    President-elect Donald Trump promised on the campaign trail to return the US to 4% gross-domestic-product growth during his presidency. One of the best ways to achieve this appears to be his proposed $550 billion stimulus package to help rebuild infrastructure. Even if Trump can get his infrastructure plan past Democrats, deficit hawks in his own party, and regulators, there may be one more opponent preventing an economic boom: Federal Reserve Chair Janet Yellen... ...comments at the Fed's December meeting appear to signal a "Yellen Call" that will dampen the financial and economic impact of any large-scale infrastructure plan. The strategists...
  • A Fed Shot Across Trump's Bow?

    12/15/2016 5:16:16 AM PST · by IBD editorial writer · 48 replies
    Investor's Business Daily ^ | 12/14/2016 | Staff
    Monetary Policy: It was a foregone conclusion that the Fed would raise rates by a quarter point this week. No surprise there. What was a surprise was the sudden hawkish tone. Are they trying to tamp down enthusiasm after Donald Trump's election? It sure looks that way. Instead of just two rate hikes next year, which was the Fed's own expectation just last September, its forecasts now look for three rate hikes. Why the change? A sudden surge in inflation? Faster than expected growth? Hardly. The Fed's own forecasts don't see unemployment getting below where it is now, about 4.5%....
  • Fed Sees 3 More Hikes In 2017; 'Fiscal Boost Not Needed,' Yellen Says [SHE CAN BE FIRED NOW]

    12/15/2016 3:23:13 AM PST · by expat_panama · 43 replies
    Investors Business Daily ^ | Dec. 14, 2016 4:36 PM ET | JED GRAHAM
    The Federal Reserve raised its key interest rate by a quarter point on Wednesday, as expected, but policymakers signaled a likelihood of three increases in 2017, up from prior expectations for two moves. In her post-meeting press conference, Chair Janet Yellen called the change in outlook "a very modest adjustment" in the path of Fed policy. She noted that some members, but not all, factored in some fiscal stimulus following the election of Donald Trump, into their forecasts, even though his policies are still being crafted. The lower jobless rate, which fell to 4.6% from 4.9% in November, also was...
  • Fed raises rates for the second time in a decade

    12/14/2016 11:32:55 AM PST · by RummyChick · 172 replies
    cnbc ^ | 12/14 | cox
    Federal Reserve officials, amid signs that the U.S. economy soon could shed its long period of stagnation, approved the first interest rate hike in a year Wednesday and said it foresees three more increases next year. The stock market reacted calmly, while the dollar and bond yields rose.
  • Three Things That Will Drive Fed Decisions

    12/14/2016 2:13:52 AM PST · by expat_panama · 18 replies
    Investors Business Daily ^ | Dec. 13, 2016 6:49 PM ET | MICHAEL J. MARSHALL
    For the second time in 10 years, the Fed is poised to deliver an upward move in its target interest rate this week. The probability of a rate hike on Dec. 14 has risen to over 97%, according to much-watched CME Fed Funds futures. Consistent U.S. employment growth, coupled with improved housing figures, solid retail sales, rising consumer confidence and increased industrial production, have led Fed officials to prep markets for this long-awaited change. The positive data has fallen within the context of persistent anemic GDP growth, suppressed business investment/capital spending... ...a lower regulatory burden and the tax stimulus expected...
  • Fed officials warn Trump that fiscal policy must be smart

    12/05/2016 12:08:50 PM PST · by b4its2late · 65 replies
    Market Watch ^ | Published: Dec 5, 2016 11:50 a.m. ET | Greg Robb
    New York Fed president backs gradual interest-rate hikes Without mentioning President-elect Donald Trump by name, Federal Reserve officials on Monday warned that the incoming administration’s fiscal policy must be intelligently designed to spur the economy while maintaining a rainy-day fund to help the economy withstand another downturn. “Smart” government spending and tax reform could help the economy grow, said Chicago Fed President Charles Evans in a speech to the Executives Club of Chicago, according to Reuters.
  • The Trump Fed

    11/18/2016 6:43:58 AM PST · by afraidfortherepublic · 12 replies
    NY Sun ^ | 11-18-16 | Editorial
    President Trump will have a choice opportunity that few if any presidents have had — the immediate chance to fill two openings on the board of governors of the Federal Reserve. Only five of the board’s seven seats are now filled, a fact that has received scant attention in the press. Yet finding the right nominees will be important in setting the stage for monetary reforms needed to end the age of fiat money and put paid to the “false economy” of which Mr. Trump warned. We are only one stop on the organ known as the “Great Mentioner,” but...
  • Economy Gets A Thumbs Up On Jobs, Homes, Factories And Inflation

    11/18/2016 2:57:12 AM PST · by expat_panama · 20 replies
    Investors Business Daily ^ | November 17, 2016, 10:14 AM ET | IBD STAFF AND WIRE REPORTS
    The U.S. economy got several positive signs Thursday, as a raft of reports showed jobless claims were down, new home construction reached a nine-year high, manufacturing activity stayed on the plus side and inflation seemed to be returning to normal levels. Jobless Claims The fewest Americans since 1973 filed for unemployment benefits last week, a sign that the U.S. labor market is getting tighter. Jobless claims dropped by 19,000 to 235,000 in the week ended Nov. 12, which included the Veterans Day holiday, a Labor Department report showed Thursday in Washington. The median estimate in a Bloomberg survey called for...
  • Fed's Yellen: Rate Hike 'Soon,' Will Serve Full Term

    11/18/2016 2:57:09 AM PST · by expat_panama · 53 replies
    Investors Business Daily ^ | November 17, 2016, 4:37 PM ET | ED CARSON
    Federal Reserve Chairwoman Janet Yellen reiterated Thursday that the case for an interest rate hike has strengthened and said that it would be "appropriate relatively soon," reinforcing expectations for an increase at next month's policy meeting. Yellen's testimony before the Joint Economic Committee of Congress was her first major comments since the election of Donald Trump, who has has criticized the Fed chief's actions. Yellen said she expects to serve out her full term and cautioned against reversing financial reforms. Yellen said in her testimony: "I expect economic growth to continue at a moderate pace sufficient to generate some further...
  • Finance Federal Reserve Here's Where Donald Trump and Janet Yellen Agree

    11/18/2016 2:57:07 AM PST · by expat_panama · 5 replies
    Fortune ^ | November 17, 2016, 1:12 PM EST | Chris Matthews
    Donald Trump and Janet Yellen don’t share much common ground. The president-elect and the Federal Reserve Chair have clashed over Trump’s claims that the Fed was picking sides in the election. He has also at times criticized the Fed’s recent easy-money policies as creating a “false economy.” But during a hearing before the Joint Economic Committee on Thursday, the Fed Chair indicated an area where she might welcome Trumpian reforms. During her testimony, Yellen argued that there were two worrying trends in the American economy: slow productivity growth and lackluster business investment. “My advice [to lawmakers] would be to [pursue...
  • A Fed That Is Distressingly Incompetent

    11/04/2016 5:19:27 AM PDT · by expat_panama · 12 replies
    Real Clear Markets ^ | November 4, 2016 | Jeffrey Snider
    A few weeks ago, across the Atlantic, the people of South Wales had occasion to mark a half century since one of the area's gravest tragedies. On October 21, 1966, a large coal slag, a huge pile of coalmine waste debris, fell over onto the town of Aberfan. In the direct wake of the avalanche was the Pantglas Junior School, completing the staggering tragedy that stole 116 children's lives, as well as those of 28 adults. Since 1947, the mine that had contributed the waste for the disaster was run by the National Coal Board, not any private company. It...
  • Federal Reserve Leaves Rates Unchanged, Awaits 'Further Evidence'

    11/03/2016 4:10:23 AM PDT · by expat_panama · 14 replies
    Investors Business Daily ^ | NOV 2, 2016 4:32 PM ET | JED GRAHAM
    The Federal Reserve left interest rates unchanged Wednesday, avoiding any policy shift just ahead of the presidential election, as expected. The question going forward is whether policymakers will raise rates in December. Markets still expect a move at the next meeting but the odds have fallen in recent days as Donald Trump's rise in the polls adds to market uncertainty heading into Election Day. Stocks, already down heading into the 2 p.m. ET announcement, ultimately expanded losses modestly, closing near session lows. The S&P 500 suffered its seventh straight decline, hitting its lowest level since early July. The Fed statement...
  • Fed Can't Discuss Trump Effect, But December Rate Hike In Question

    11/03/2016 3:55:56 AM PDT · by expat_panama · 16 replies
    Investors Business Daily ^ | Nov. 2, 2016 1:31 PM ET | JED GRAHAM
    When the Federal Reserve held interest rates steady on June 15, among the stated reasons was concern about Brexit just a week ahead of the United Kingdom's fateful vote. Minutes of that meeting show that rate-setting committee members discussed the magnitude of the effect on financial markets from a U.K. vote to leave the European Union. "It is a decision that could have consequences for economic and financial conditions in global financial markets," Federal Reserve Chairwoman Janet Yellen said... ...Trump and Hillary Clinton are tied at 44% in the latest IBD/TIPP Presidential Election Tracking Poll... ...IBD'S TAKE: Stocks have fallen,...
  • ECONOMY With Dollar Rising, Fed May Spring December Surprise

    10/25/2016 4:09:09 AM PDT · by expat_panama · 15 replies
    Investors Business Daily ^ | 10/21/2016 | JED GRAHAM
    As the Federal Reserve's long-awaited December rate hike approaches, the parallels with a year ago are both striking and a bit worrying. The dollar is surging against other major currencies as the Fed gets set to tighten policy, even as other major central banks plan to keep their monetary spigots wide open for the foreseeable future. Similar circumstances triggered a bout of global financial market turmoil at the start of 2016... ...strong dollar is a negative for U.S. multinationals... ...good news is that Fed policymakers also are on guard against a repeat of the global financial market turmoil... ...IBD'S TAKE:...
  • U.S. can add as few as 50,000 jobs per month and still be healthy, Fed study finds

    10/24/2016 1:03:39 PM PDT · by Oldeconomybuyer · 40 replies
    Market Watch ^ | October 24, 2016 | by Greg Robb
    The U.S.economy only needs to generate about 75,000 jobs — and possibly as few as 50,000 — each month to maintain a healthy labor market, according to a study released Monday by the San Francisco Fed. That’s down sharply from the 192,000 average payroll gains seen over the past three months. Because the economy is close to what the Fed calls “full employment,” the future is less about creating an even stronger labor market than about maintaining a healthy one, said San Francisco Fed President John Williams in a speech last week.
  • Investors Are Finally Getting With The Fed's Program — Are You?

    10/12/2016 3:23:35 AM PDT · by expat_panama · 4 replies
    Investors Business Daily ^ | October 11, 2016 | JED GRAHAM
    Financial markets are beginning to believe the Federal Reserve. That's the simplest explanation for the tumble that major stock indexes took on Tuesday, which saw the 10-year Treasury yield rise to a four-month high and the U.S. dollar index hit its highest level in seven months. While the U.S. central bank's key overnight lending rate is barely above zero and policymakers have repeatedly reined in their intentions for further hikes, markets have taken each Fed pronouncement with a grain of salt. Whether investors doubted the Fed's resolve or its economic forecast, markets have been pricing in an even lower-rate future...
  • Fed Meetings Just Got a Lot more interesting

    10/11/2016 1:15:09 PM PDT · by CruiseMates · 7 replies
    CNBC ^ | 10-11-16 | Jeff Cox
    The last time the Fed hiked was in December of last year. Even though it was well-telegraphed, it still led to two months of heightened market volatility that saw the S&P 500 tumble 13 percent before recovering. If the minutes reveal a divided Fed that might try to accelerate the course of rate hikes in the year ahead, that likely would move markets.
  • Top central banker's Clinton donation puts Fed in political crosshairs [Lael Brainard]

    09/30/2016 2:04:18 PM PDT · by kiryandil · 7 replies
    CNBC ^ | September 29, 2016 | Matthew J., Belvedere
    Revelations that Federal Reserve Gov. Lael Brainard donated to Hillary Clinton's presidential campaign has created a tough situation for the central bank, at a time when Donald Trump has been accusing the Fed of making policy based on political bias. A day after Fed Chair Janet Yellen found herself in the hot seat on Capitol Hill over the Brainard donation, Kansas City Fed President Esther George danced around the issue on Thursday in a CNBC interview.
  • "There's A Real Problem Here" - Did Fed's Plosser Just Admit Trump Is Right About Yellen?

    09/28/2016 10:02:24 AM PDT · by Rockitz · 25 replies ^ | 28 September 2016 | Tyler Durden
    Former Philly Fed President Charles Plosser got a lot off his chest this morning during a Bloomberg TV interview. Decrying that central bankers "wring their hands all the time," Plosser noted that The Fed was very "concerned about credibility," and was "pretty good at conjuring up reasons not to act." His mutinous discussion then concluded, sounding very Trumpian, by noting that The Fed "shouldn't be afraid a recession might come," exclaiming "there's a real problem here" with The Fed.
  • Why Yellen may quit if Trump wins

    09/28/2016 3:08:02 AM PDT · by expat_panama · 103 replies
    Market Watch ^ | Sept 27, 2016 12:33 p.m. ET | Steve Goldstein
    Even with two years remaining in her term, Federal Reserve Chairwoman Janet Yellen may quit if Donald Trump is elected president, an economist argued on Tuesday. Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients that Trump doubled down on criticism of the Fed during his debate with Hillary Clinton. Trump said the U.S. economy is in a “big, fat, ugly bubble” and specifically called out Yellen. “And we have a Fed that’s doing political things. This Janet Yellen of the Fed,” he said. “The day Obama goes off, and he leaves, and goes out...
  • Duck And Run—-The Robot Doth Blather [YELLEN & HER FED]

    09/26/2016 3:48:40 AM PDT · by expat_panama · 2 replies
    david stockman's contracorner ^ | September 23, 2016 | David Stockman 
    Listening to Janet Yellen splitting hairs and blathering in circles about the state of the economy yesterday was enough to put you in mind of a paint-by-the-numbers robot built in the labs at MIT and programmed by its Keynesian economics department. After all, the latter has also inflicted on the world Paul Samuelson, Stanley Fischer, and his infamous student, Ben Bernanke.So why not a four-fer?There is only one question that Yellen needs to answer and then all else is readily explained. To wit, does she actually believe that the money market rate——as formerly measured by Fed funds before Bernanke nationalized the interbank market in September 2008——is a wholly owned property of the...
  • Fed “forward guidance” blows too much smoke

    09/23/2016 3:32:54 AM PDT · by expat_panama · 1 replies
    Reuters ^ | September 22, 2016 | Gina Chon
    The U.S. Federal Reserve is still enabling financial markets. The central bank on Wednesday again declined to raise rates, despite recent remarks from Chair Janet Yellen suggesting an increase was becoming more likely. The Fed counts talking to the market – what it calls giving “forward guidance” – as one of its tools, but the story has changed so often that Yellen and her colleagues might do better being less chatty. The Fed initially signaled four rate hikes in 2016 after raising the range for the federal funds rate to 0.25 percent to 0.5 percent last December... ...the U.S. economy...
  • Divided Fed Holds Off On Rate Hike, Sees Slower Tightening Path

    09/22/2016 3:42:30 AM PDT · by expat_panama · 16 replies
    Investors Business Daily ^ | September 21, 2016 | JED GRAHAM
    The Federal Reserve left interest rates unchanged Wednesday after its two-day policy meeting, as expected, and longer-term rate projections show an even slower pace of increases. Still, policymakers painted a mostly upbeat picture about the job market and overall growth and signaled that the Fed's key rate will rise before year-end. Markets have increasingly been pricing in a December hike... ...Fed's forecasts show policymakers expect three rate hikes through the end of 2017, down from five at their June meeting. The estimate for the fed funds rate in 2017 has slipped to 1.1% in 2017 from a 1.6% view in...
  • Who’s Greenspan Calling Crazy?

    09/15/2016 3:57:23 AM PDT · by expat_panama · 29 replies
    New York Sun ^ | September 14, 2016 | Editorial
    So who is Alan Greenspan suggesting is crazy? We ask because, according to the Bloomberg news ticker, the former chairman of the Federal Reserve refused comment when asked to whom he was referring... ...a country to be undermined by — how should I say it — crazies.” No doubt the Democratic Party press is going to start suggesting that the crazies to whom Mr. Greenspan was referring are the Republicans lead by Donald Trump... ...might be prepared to see America default on the federal debt. He said he’d “borrowed knowing that you can pay back with discounts.” That drove the...
  • Robert J. Samuelson: The Old Fed Is Dead

    09/19/2016 5:48:18 AM PDT · by expat_panama · 35 replies
    Investors Business Daily ^ | September 17, 2016 | ROBERT J. SAMUELSON
    The betting is that the Federal Reserve won't raise interest rates at this week's meeting of the Federal Open Market Committee, its key policymaking body. There are already complaints that the Fed, which cut short-term rates to near zero in late 2008, is waiting too long to reverse low rates. Last December, the Fed increased rates by a quarter of a percentage point. It hasn't done anything since. "The Fed will make a major mistake if it doesn't raise rates," says economist Mark Zandi of Moody's Analytics. "The job market is strong and very close to full employment. Inflation is...
  • TRUMP: Janet Yellen should be ‘ashamed’ of what she’s doing to the country

    09/13/2016 8:32:34 AM PDT · by entropy12 · 39 replies
    Yahoo Finance via CNBC ^ | 09-12-16 | CNBC
    GOP presidential nominee Donald Trump told CNBC on Monday the Federal Reserve is doing what President Barack Obama wants by keeping interest rates low. Fed Chair Janet Yellen and central bank policymakers are very political, and Yellen should be “ashamed” of what she’s doing to the country, Trump said, adding the Fed is not even close to being independent. By keeping interest rates low, the Fed has created a “false stock market,” Trump argued in a wide-ranging interview in which he also talked about Democratic nominee Hillary Clinton’s health problems . Trump said rates are being kept lower to bolster...
  • Trump: The Fed Keeping Interest Rates Artificially Low So The Economy Doesn't Go Down (Video)

    09/09/2016 4:04:26 PM PDT · by Red Steel · 26 replies
    Real Clear Politics ^ | September 6, 2016 | Tim Hains
    "...Donald Trump told reporters Monday that the Federal Reserve is keeping interests rates at record lows to help President Obama and to keep the economy from going down. "They’re keeping the rates artificially low so the economy doesn’t go down," Trump said in response to a question about a potential rate hike by the Federal Reserve this month. "So that Obama can say he did a good job. That's the only reason that the rates are so low. They're keeping the rates artificially low so that Obama can go out and play golf after January and say that he did...
  • Dow sheds 300 points, Nasdaq plummets 2%; Fed fears loom

    09/09/2016 11:04:48 AM PDT · by mandaladon · 53 replies
    CNBC ^ | 9 Sep 2016 | Fred Imbert
    U.S. equities traded lower on Friday as concerns the Federal Reserve might raise interest rates this month loomed following a speech made by a Fed official, while eyeing falling oil prices. "The commentary from a voting member that the Fed may be forced to raise rates is important," said Kim Forrest, senior equity analyst at Fort Pitt Capital. "I think the market needs to understand that there may be a rate hike coming. Whether it's September or December, it doesn't matter big picture." The Dow Jones industrial average fell more than 300 points lower, with 3M and Boeing contributing the...
  • The Fed may be preparing for the unthinkable — negative interest rates in America

    09/04/2016 12:30:58 AM PDT · by SaveFerris · 194 replies
    Yahooooo ^ | 12 hours ago | John Mauldin, Yahoo Finance Contributor
    Negative interest rates are spreading like a virus. Central banks in the Eurozone, Switzerland, Sweden, and Japan all have below-zero policy rates. “NIRP,” as economists call a negative interest rate policy, is a desperation move—but the only move those central banks have. The Federal Reserve hasn’t followed—yet. When the next recession strikes, I believe Janet Yellen will choose to break the zero lower bound. The rationale was laid out in Jackson Hole. Look behind the headlines and you’ll see the Fed already preparing for NIRP. In theory, negative rates should encourage consumers and businesses to spend more freely and stimulate...
  • Fed's Yellen, Fischer Send Mixed Messages, Leave Markets Guessing

    08/29/2016 3:06:33 AM PDT · by expat_panama · 15 replies
    Investors Business Daily ^ | August 26, 2016 | JED GRAHAM
    Federal Reserve Chair Janet Yellen said Friday that the case for a rate hike has "strengthened" in recent months, as labor market slack is fading. The U.S. economy is "now nearing the Federal Reserve's statutory goals of maximum employment and price stability," Yellen said. Financial markets, which already have been pricing in a good chance of a rate hike in December, initially took her comments in stride. Investors are less concerned about the timing of the next hike than the one after that. Treasury yields initially rose a bit, then headed slightly lower after release of Yellen's speech transcript. That...
  • As Fed nears rate hikes, policymakers plan for 'brave new world'

    08/28/2016 3:10:15 PM PDT · by Cheerio · 20 replies
    Yahoo News ^ | August 27, 2016 | Jason Lange and Ann Saphir
    JACKSON HOLE, Wyo. (Reuters) - Federal Reserve policymakers are signaling they could raise U.S. interest rates soon but they are already weighing new tools they may need to fight the next recession. A solid U.S. labor market "has strengthened" the case for the first rate increase since last December, Fed Chair Janet Yellen told a central banking conference in Jackson Hole, Wyoming. Several of her colleagues said the increase could come as soon as next month if the economy does well. Further rate hikes are expected to be few and far between as the U.S. central bank tries to balance...
  • The Fed Launches A Facebook Page... And The Result Is Not What It Had Expected

    08/21/2016 5:12:55 PM PDT · by RightGeek · 50 replies
    ZeroHedge ^ | 8/21/2016 | Tyler Durden
    While it is not exactly clear what public relations goals the privately-owned Fed (recall Bernanke's Former Advisor: "People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned") hoped to achieve by launching its first Facebook page last Thursday, the resultant outpouring of less than euphoric public reactions suggest this latest PR effort may have been waster at best, and at worst backfired at a magnitude that matches JPM's infamous #AskJPM twitter gaffe. Here are some examples of the public responses to the Fed's original posting: they all share a certain uniformity... [Screen captures] [More by...
  • What the Fed Hasn't Fixed (and Actually Made Worse)

    08/20/2016 2:31:20 PM PDT · by Lorianne · 6 replies
    Of Two Minds ^ | 18 August 2016 | Charles Hugh Smith
    The Fed has not only failed to fix what's broken in the U.S. economy--it has actively mad those problems worse. The Federal Reserve claims its monetary interventions saved America from economic ruin in 2009, and have bolstered growth ever since. Don't hurt yourself patting your own backs, Fed governors past and present: it's bad enough that the Fed can't fix the economy's real problems--its policies actively make them worse. After seven long years of politicos and the financial media glorifying the Federal Reserve's policies as god-like in their power and efficacy, let's take a quick look at the results of...
  • Fed officials eye interest rate hike this year (DEFLATION AND FED HIKES RATES!)

    08/17/2016 3:14:45 AM PDT · by expat_panama · 18 replies
    reuters ^ | August 16, 2016 | Business News
    The Federal Reserve is raising expectations for an interest rate rise this year, even as early as next month, after two policymakers on Tuesday said the economic stars now appear to be aligning despite weak U.S. economic growth in the first half of 2016. New York Fed President William Dudley said "it's possible" to raise rates at the Sept. 20-21 policy meeting given evidence of wage gains and a tighter labor market that could boost inflation, while Dennis Lockhart of the Atlanta Fed said a hike next month is in play. The comments, which prompted investors to boost bets on...
  • Federal Reserve: 'Risks Diminished'; Next Rate Hike In May 2017?

    07/28/2016 3:05:00 AM PDT · by expat_panama · 23 replies
    Investors Business Daily ^ | July 27, 2016 | ED CARSON
    The Federal Reserve left interest rates unchanged Wednesday afternoon at the end of its two-day policy meeting. Policymakers said "near-term risks" to the economy have faded, but investors generally saw the central bank in no rush to raise rates. Key points from the FOMC policy statement: "Near-term risks to the economic outlook have diminished." "On balance, payrolls and other labor market indicators point to some increase in labor utilization in recent months." "Household spending has been growing strongly but business fixed investment has been soft." "Inflation is expected to remain low... ...Fed statement was a tiny step toward an eventual...
  • Rand Paul Just Short of Forcing Vote on Audit the Fed Bill

    07/27/2016 2:57:01 PM PDT · by HomerBohn · 11 replies
    The New American ^ | 7/27/2016 | Joe Wolverton, II
    Soon, the Federal Reserve could be forced for the first time to open its books and expose its machinations to Congress. Senator Rand Paul (shown, R-Ky.) reports that he is “about seven votes short” of the 60 votes he believes would be procedurally sufficient to get a vote in the Senate. In an interview with Kitco News just moments after he left the stage at Freedom Fest in Las Vegas, Paul explained that while the House of Representatives has passed numerous measures aimed at auditing the Federal Reserve, it is “taking forever in the Senate.” He promises that he will...
  • Helicopter Money——The Biggest Fed Power Grab Yet

    07/16/2016 10:01:58 PM PDT · by amorphous · 8 replies
    Stockman's Corner ^ | 14 July 2016 | David Stockman
    The Cleveland Fed’s Loretta Mester is a clueless apparatchik and Fed lifer, who joined the system in 1985 fresh out of Barnard and Princeton and has imbibed in its Keynesian groupthink and institutional arrogance ever since. So it’s not surprising that she was out flogging—-albeit downunder in Australia—- the next step in the Fed’s rolling coup d’ etat. We’re always assessing tools that we could use,” Mester told the ABC’s AM program. “In the US we’ve done quantitative easing and I think that’s proven to be useful. “So it’s my view that [helicopter money] would be sort of the next...
  • Peter Schiff Warns About the "Worst Economic Downturn Including the Great Depression"

    07/12/2016 9:26:25 AM PDT · by Academiadotorg · 31 replies
    Accuracy in Academia ^ | July 12, 2016 | Alex Nitzberg
    The Federal Reserve's monetary policies have manufactured a "super bubble" that " … may give us the worst economic downturn including the Great Depression," economist Peter Schiff declared during an interview with Accuracy in Media. He explained that low interest rates prop up the government’s feckless fiscal policies and generate " … really systemic structural problems in the economy … " that “manifest themselves in bubbles that then burst." " … the Fed’s policy does not work and has not solved our problems, it has simply exacerbated our problems, and … we're gonna have a currency crisis, we're gonna have...
  • Judge Jeanine Pirro Opening Statement 1st Time History Pres Candidate Under Fed Investigation

    07/03/2016 7:37:49 AM PDT · by sheikdetailfeather · 23 replies
    You Tube via Fox News ^ | 7-2-16 | Judge Jeanine Pirro
    Judge Jeanine Pirro Opening Statement 1st Time In History Presidential Candidate Under Federal Investigation
  • Does Monetary Policy Affect Real Economic Activity? [FED CAN'T HELP THE ECONOMY]

    07/01/2016 5:31:03 AM PDT · by expat_panama · 21 replies
    Cato Journal ^ | Spring/Summer 2016). | Jerry L. Jordan
    Do the policy actions of monetary authorities actually affect economic activity? We know that time and other resources are expended, but what can we observe about the results of such efforts? In answering this question, it is helpful to begin with an account of how monetary authorities in discretionary, fiat currency regimes are traditionally thought to influence economic activity. Here, every college course in intermediate monetary theory tells essentially the same story. A nation’s money supply comprises two distinct components: paper currency and deposits at banking organizations. The former was the largest component in earlier times, but the latter has...
  • Nation's largest banks all pass Fed's 'stress tests'

    06/23/2016 10:48:30 PM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Jun 23, 2016 5:36 PM EDT | Ken Sweet
    The largest U.S. financial institutions have enough armor to withstand the turmoil of a major and prolonged national and global recession, the Federal Reserve said Thursday. The central bank’s annual “stress tests” show that the 33 largest financial institutions — including JPMorgan Chase, Citigroup, Bank of America and Wells Fargo — all hold more capital than at any time since the 2008 financial crisis. They also hold enough capital that, even if faced with billions of dollars in losses from loans as a result of an economic crisis, they would continue to function. The stress tests were created in the...
  • With a British adieu to EU, it's farewell to a Fed rate hike for now

    06/24/2016 5:34:39 AM PDT · by mykroar · 15 replies ^ | 6/23/2016 | Reuters
    The U.S. Federal Reserve, already undecided on when next to raise interest rates, now has one more reason to wait: Britain's vote on Thursday to leave the European Union. Not that the Fed needed another reason. Weaker-than-expected growth in U.S. jobs in recent months had already forced U.S. central bankers to put off a rate hike at their meeting last week.But while data due early next month on June U.S. payrolls growth could help clear up doubts about the strength of the labor market, the political and economic consequences of Britain's exit from the EU will take months or years...
  • Maybe Janet Yellen Hasn't Changed, But We Have

    06/24/2016 4:04:42 AM PDT · by expat_panama · 11 replies
    Real Clear Markets ^ | June 24, 2016 | Jeffrey Snider
    Janet Yellen has been doing a lot of talking lately, with more and more attention paid to the words she says and the contexts in which she delivers them. Maybe, then, it just seems as if the Fed Chair is speaking more, since it may be just as likely that she isn't doing anything different and that it is us who have changed. The fact that the FOMC has failed to follow through but for that one time in December is very likely the cause. Two years ago, Yellen spoke a lot of words but they were familiar, unnoticeable noise...
  • Memo To Fed: Keep Your Foot Off The Brake

    06/17/2016 6:40:34 AM PDT · by expat_panama · 2 replies
    Investors Business Daily ^ | 6/15/2016 | Editorial
    Economy: Federal Reserve policymakers are now unanimous: Forget about a hike in interest rates for now. Our only question is, what took them so long? Just a month ago we were told repeatedly that a Fed rate hike was "baked in the cake." After all, jobs seemed to be growing smartly, consumers were perking up, and Fed data showed net wealth at near-record levels. Then reality intervened in the form of a 38,000-job gain for May — a shockingly big shortfall, considering the consensus for 160,000 net new jobs. Then, despite President Obama's jawboning, British voters look increasingly likely to...
  • A Challenge to Much That You Believe About the Fed

    06/15/2016 5:38:56 AM PDT · by expat_panama · 15 replies
    Real Clear Markets ^ | June 15, 2016 | Harry Binswanger
    John Tamny, of Forbes and RealClearMarkets, has penned a highly original and stimulating look at the economics of money and banking: Who Needs the Fed? I sang the praises of his remarkable Popular Economics when that came out, and now this just-published book has me singing them again, in a new key. Let me note up front that there are substantial parts of this book with which I, so far at least, disagree. I have exchanged some emails with Mr. Tamny on these issues and nothing has been resolved. This is a not A Bad Thing: it can be actually...
  • Book Review: Who Needs The Fed? by John Tamny

    06/12/2016 12:25:49 PM PDT · by BUSHdude2000 · 9 replies
    Big Jolly Politics ^ | 5/31/2016 | Steve Parkhurst
    Review by Steve Parkhurst: Who Needs The Fed?: What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America’s Central Bank, is not a dense economics book like the macro or micro economics of our youth. This book is written much more clearly than those old textbooks, and is actually interesting. The many rather short chapters make their case and then move along to the next. Tamny’s utter disdain for the Fed is both evident, and humorous along the way. But his book is not an angry diatribe, instead it is a fact-filled, example-laden...
  • Is the Fed Outright Buying Stocks/Futures to Prop Up the Markets?

    06/08/2016 9:21:25 AM PDT · by Lorianne · 56 replies
    Zero Hedge ^ | 07 June 2016 | Phoenix Capital
    “Someone” is getting desperate. Throughout the last week, anytime stocks have begun to correct or drop, “someone” has bought S&P 500 futures to prop the market up. Anyone who’s been involved with the markets for a while knows the difference between real buyers and manipulation. This is manipulation plain and simple. Look at all those “V” rallies. Three days in a row stocks opened DOWN and someone immediately stepped in and began buying aggressively. Another tell-tale sign of manipulation: the buying halts almost the moment stocks get to 2,100 on the S&P 500. At this point the manipulation ends. And...
  • Is Janet Yellen in the hot seat after poor jobs report?

    06/07/2016 4:48:19 AM PDT · by expat_panama · 35 replies
    NY Post ^ | June 6, 2016 | John Crudele
    Federal Reserve Chair Janet Yellen made her usual bipolar remarks yesterday in a speech: Last week’s employment report was disappointing... ...Yellen... ...sounded like a politician and basically said nothing. I’m now going to tell you how Yellen’s comments will sound ... YELLEN: “Good afternoon everyone. FYI, this is a freakin’ OMG moment for us at the Fed. President Trump is bustin’ our cajones, and I’m pretty sure it’s because the Fed is being run by a dame. “The economy? I bet you want to know what the economy is doing. I could tell you this and tell you that. But...