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Keyword: fed

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  • 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 Ľ 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 Ľ 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
    INVESTOR'S BUSINESS DAILY ^ | 07/09/2015 | ANDREA RIQUIER
    "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 goldseek.com 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
    ZeroHedge.com ^ | 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
    SHTFPlan.com ^ | 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
    WSJ ^ | 3/13/2015 | RYAN TRACY, EMILY GLAZER And VICTORIA MCGRANE
    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...
  • Rand Paul: 'Alarming' that the Fed is trying to stop audit

    02/12/2015 8:31:25 AM PST · by TangoLimaSierra · 51 replies
    http://www.washingtonexaminer.com ^ | 2/11/2015 | Joseph Lawler
    Sen. Rand Paul isn't happy that the Federal Reserve is mobilizing against his legislation that would subject the central bank's monetary policy decisions to an audit. "It is alarming that the Federal Reserve, which was granted Monopoly money-making power, is now specifically trying to stop my legislation," the Kentucky Republican wrote in a column published by the conservative publication Breitbart Tuesday. "The Fed, with unlimited ability to print money, now prints that money to lobby against congressional oversight," Paul added. "It is a disgrace and every citizen in the land should rise up and say: We the people are in...
  • IL DRIVERS LICENSE NOT ENOUGH TO FLY IN 2016?

    02/12/2015 6:53:58 AM PST · by Beave Meister · 13 replies
    ABC 7 Chicago ^ | 2/11/2015
    SPRINGFIELD, Ill. -- Illinois residents might not be able to use their driver's licenses at airports starting in 2016. The Daily Herald reports the licenses don't meet requirements set by the 2005 Real ID Act that were meant to increase security. Illinois doesn't require a birth certificate to get a driver's license, which Illinois Secretary of State spokesman Henry Haupt said is one of the law's mandates. Haupt said state legislators would have to approve funding for changes to driver's license requirements. He said he's not sure how much it would cost, but the Secretary of State's office previously estimated...
  • The Fed Fires Back at Rand Paul

    02/05/2015 4:16:22 PM PST · by SatinDoll · 41 replies
    The Hill ^ | Feb. 5, 2015 | Fred Cirilli
    The Federal Reserve is lashing out at Sen. Rand Paul’s plan to give Congress more oversight over the central bank, a proposal that could gain traction in the new Republican-led Congress. The Kentucky Republican reintroduced his “Audit the Fed” legislation last month with 30 co-sponsors, including other potential 2016 GOP hopefuls, Sens. Ted Cruz (Texas) and Marco Rubio (Fla.). [snip] On Wednesday, Cleveland Fed President Loretta Mester criticized the legislation as “misguided” during public remarks in Columbus, Ohio. “They really are about allowing political considerations to influence monetary policy decisions,” Mester said in her speech. “This would be a tremendous...
  • Stock Markets Spooked by Federal Reserve's Tight-Lipped Statement

    01/28/2015 2:30:16 PM PST · by John W · 12 replies
    thestreet.com ^ | January 28, 2015 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- Stock markets didn't react well to a tight-lipped statement from the Federal Reserve that gave no clear signal as to when it would begin to hike interest rates. January's meeting announcement came with no accompanying press conference, leaving investors to comb the wording for clues as to when a rate hike could occur. "From the equity market perspective, this might be the least helpful the Fed has been," said Brean Capital's Peter Tchir. "They didn't even find a way to work 'considerable' language into this." The S&P 500 closed 1.2% lower, and the Nasdaq dropped 0.73%....
  • Rand Paul and Ted Cruz Join Forces Against the Fed

    01/28/2015 1:33:17 PM PST · by Theoria · 14 replies
    The New York Times ^ | 28 Jan 2015 | Alan Rappeport
    Senators Rand Paul and Ted Cruz might end up running against each other for the Republican presidential nomination, but they can agree on one thing: their distrust of the Federal Reserve. On Wednesday, the two Republican senators introduced the Federal Reserve Transparency Act which Mr. Paul has been pushing for some time.Republicans have questioned the Fed’s moves to stimulate the economy since the financial crisis, arguing that the expansion of its balance sheet will create economic instability. In 2011, Gov. Rick Perry called the Fed’s monetary policies potentially “treasonous” and said that Ben S. Bernanke, the Fed chairman at the...
  • Fed QE was $4trn over six years, BOJ and ECB spending a combined $1.5trn year.

    01/23/2015 5:16:22 AM PST · by alexmark1917 · 1 replies
    Fed’s $4 Trillion Holdings to Boost Growth Beyond End of QEQuantitative easing may turn out to be a gift that keeps on giving for the U.S. economy. As the Federal Reserve prepares to end its third round of bond buying next week, the central bank plans to hang on to the record$4.48 trillion balance sheet it has accumulated since announcing the first round of purchases in November 2008. That will continue to keep a lid on borrowing costs, helping the Fed lift inflation closer to its target and providing support to a five-year expansion facing headwinds abroad, from war in...
  • Stocks Pop-And-Drop After NYPost "Fed Emergency Meeting" Twitter Hack

    01/16/2015 5:10:33 PM PST · by 9thLife · 5 replies
    Zero Hedge ^ | 01/16/2015 13:25 -0500 | Tyler Durden
    The NY Post tweeted that "Federal Reserve head Yellen announces bail-in in emergency meeting, rumored negative rate to be set at 4pm EST today," and US equity markets briefly started to rise... followed by a tweet that "The Fed would peg the Dollar to the Swiss Franc" and "Chinese anti-ship missile fired at USS George Washington." Both seemed odd and shortly after, The NY Post had deleted the tweets and explained that it had been hacked... The same tweets were also seen on the Twitter account of the wire service UPI.
  • New Fed report warns of 50% drop in value of stocks due to boomer liquidating equities.

    01/14/2015 3:37:45 PM PST · by MarchonDC09122009 · 45 replies
    Fed related publication warns of: http://www.frbsf.org/economic-research/publications/economic-letter/2014/december/baby-boomers-retirement-stocks-aging/
  • 2015 Will Be The Year Of Dollar Danger For The World

    01/01/2015 7:11:51 AM PST · by blam · 19 replies
    BI - The Telegraph (UK) ^ | 1-1-2015 | Ambrose Evans-Pritchard
    Ambrose Evans-Pritchard, The Telegraph (UK) January 1, 2015America’s closed economy can handle a surging dollar and a fresh cycle of rising interest rates. Large parts of the world cannot. That in a nutshell is the story of 2015. Tightening by the US Federal Reserve will have turbo-charged effects on a global financial system addicted to zero rates and dollar liquidity. Yields on 2-year US Treasuries have surged from 0.31pc to 0.74pc since October, and this is the driver of currency markets. Since the New Year ritual of predictions is a time to throw darts, here we go: the dollar will...
  • Could an Energy Bust Trigger QE4?

    12/23/2014 6:11:27 AM PST · by SeekAndFind · 3 replies
    Euro Pacific Capital ^ | 12/23/2014 | Peter Schiff
    In a normal economic times falling energy costs would be considered unadulterated good news. The facts are simple. No one buys a barrel of oil to display above the mantle. No one derives happiness from a lump of coal. Energy is simply a means to do or get the things that we want. We use it to stay warm, to move from Point A to Point B, to transport our goods, to cook our food, and to power our homes, factories, theaters, offices, and stadiums. If we could do all these things without energy, we would happily never drill a...
  • The most powerful woman in the world without an army

    12/19/2014 10:15:08 AM PST · by SeekAndFind · 4 replies
    American Thinker ^ | 12/19/2014 | James Longstreet
    The most powerful woman in the world, without an army, just propelled the Dow Jones to a two-day 700-point spike by saying “patience.”  Janet Yellen said the Federal Reserve, the quasi-agency that neither is “federal” nor has any “reserves," can be “patient” in their rate hikes in 2015. She was quick, and clumsy by other accounts, to confuse the rate hike issue, with language suggesting that it might not happen at all.  In the vein of the famous watering hole sign, “free beer tomorrow,” Yellen essentially gave the message that rates would go up in 2015, but they might...
  • Stocks cheer Fed; Dow up 350 points as tech rallies

    12/18/2014 12:49:58 PM PST · by John W · 32 replies
    cnbc.com ^ | December 18, 2014 | Kate Gibson
    U.S. stocks surged on Thursday, extending Wall Street's best day of the year, after the Federal Reserve said it would be patient in increasing interest rates. "The reality is markets were hit with we're not sure what's happening and why, as oil has been acting as something akin to a global interest rate. The good news is the Fed is aware of what is going on, and they want to be friendly, so people are hopefully in better cheer," said Jack Caffrey, equity portfolio manager at J.P. Morgan.
  • Gold Drain at the New York Fed: Where's It Going?

    12/07/2014 8:10:04 AM PST · by Kaslin · 75 replies
    Townhall.com ^ | December 7, 2014 | Mike Shedlock
    Nick at Sharelynx Gold, also known as Gold Charts "R" Us emailed an interesting chart last week showing gold drain at the New York Fed. Earmarked gold dropped 42 tonnes for the month of October as foreign countries repatriate their gold home. Here's a link to Earmarked Gold with a second chart that shows all Fed holdings. Gold Charts "R" Us has 1,000's of pages and over 10,000 charts on a subscription basis, but you can check out the site for free until December 14. Click on the first link at the top for a look. Where's the Gold Going?...