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Keyword: thefed

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  • Vanity: Does FR like Mnuchin?

    11/30/2016 2:01:01 PM PST · by spacejunkie2001 · 54 replies
    11/30/16 | me
    What's the opinion or consensus on this guy and/or the tax changes? I am NOT a fan of class warfare and I feel like when they don't cut the taxes for the rich, there's an element of punishment. Why can't everyone single American get the same tax cuts? Why make people that make more foot more of the bill?
  • The Warren Buffet Economy: How Central Bank Enabled Financialization Divided America

    08/05/2016 9:03:38 PM PDT · by ameribbean expat · 16 replies
    During the 29 years after Alan Greenspan became Fed chairman in August 1987, the balance sheet of the Fed exploded from $200 billion to $4.5 trillion. Call that a 23X gain. That’s a pretty massive increase—so let’s see what else happened over that three-decade span. Well, according to Forbes, Warren Buffett’s net worth was $2.1 billion back in 1987 and it is now about $73 billion. Call that 35X. *** Further down the Greenspan era rabbit hole, we have the average weekly wage of full-time workers in inflation adjusted dollars. In constant 1982 dollars that was $330 per week in...
  • Fed leaves rates unchanged, lowers economic forecasts

    03/16/2016 11:41:27 AM PDT · by John W · 44 replies
    The Washington Post ^ | Match 16, 2016 | Steven Mufson
    The Federal Reserve left its benchmark interest rate unchanged today and lowered its economic forecasts after a turbulent start to the year in financial markets and lackluster U.S. growth persuaded the central bank to reassess the timing and magnitude of its plan to raise rates. The Fed maintained its target for interest rates at a range of 0.25 to 0.50 percent to give the U.S. recovery more time to get on a stable track without making recovery more difficult for the rest of the world, where growth is flagging. Only one member of the Federal Reserve's open market committee dissented...
  • U.S. Economy Added 271,000 Jobs in October; Unemployment Rate Down to 5.0%

    11/06/2015 6:24:20 AM PST · by SeekAndFind · 69 replies
    New York Times ^ | 11/06/2015 | By NELSON D. SCHWARTZ
    The American economy added 271,000 jobs in October, a very strong showing that makes an interest-rate increase by the Federal Reserve much more likely when policy makers meet next month. The report on hiring and unemployment, released Friday by the Labor Department, was eagerly anticipated on Wall Street, where traders and economists have been sifting each new bit of economic data for any augury of the central bank’s course. The unemployment rate dipped to 5.0 percent, from 5.1 in September. At this level, the unemployment rate is close to what would normally be considered the threshold for full employment by...
  • The Surprising Disappearance of Inflation

    10/22/2015 8:43:19 AM PDT · by Kaslin · 99 replies
    Townhall.com ^ | October 22, 2015 | Steve Chapman
    In a world in which the Cold War is a fading memory, North Korea and Cuba endure as museums of communism, so no one will forget how criminally insane it always was. In a world haunted by the specter of persistently falling prices, some countries are creating severe inflation, so we can be grateful for its virtual disappearance. One of the governments providing this public service is that of Venezuela, where the currency has lost so much value that even robbers reject it. A recent carjacking victim told The New York Times his armed captors had no interest in his...
  • Trump Says Yellen Keeping Rates Low To Protect Obama

    10/18/2015 9:30:42 PM PDT · by Rusty0604 · 24 replies
    Zerohedge ^ | 10/18/2015 | Tyler Durden
    According to Donald Trump, Janet Yellen's decision to delay hiking interest rates is motivated by politics. “This is a political thing, keeping these interest rates at this level,” Trump, the billionaire Republican presidential candidate, said in a Wednesday interview with Bloomberg Television's Stephanie Ruhle. “Janet Yellen for political reasons is keeping interest rates so low that the next guy or person who takes over as president could have a real problem.” That problem spurred by raising rates, Trump argued, could be “a recession or worse.” On the other hand, Trump faulted the Federal Reserve for not having acted sooner. “Yellen...
  • Trump: Economic bubble about to burst

    10/14/2015 5:42:20 AM PDT · by maggief · 40 replies
    The Hill ^ | October 14, 2015 | Kevin Cirilli and Bob Cusack
    NEW YORK — GOP presidential frontrunner Donald Trump warned The Hill in an exclusive interview of a looming economic recession, arguing that the stock market has already entered into another bubble. He also slammed the 2010 Dodd-Frank Wall Street reform law as a “disaster” that has stifled economic growth. “It’s terrible,” he said in an interview with The Hill, saying that he would "absolutely” repeal it. “Under Dodd-Frank, the regulators are running the banks,” Trump said. “The bankers are petrified of the regulators. And the problem is that the banks aren’t loaning money to people who will create jobs.” Democrats...
  • Market Liquidity Worse Than During The Flash Crash; 4500 Crash Events; Constant Halts And Unhalts

    08/24/2015 7:40:42 AM PDT · by Enlightened1 · 17 replies
    Zero Hedge ^ | 08/24/15 | Tyler Durden
    Curious why few if any traders can actually execute any trades, whether buys or sells? The reason is that despite the relative calmness of the index prints, what is going on beneath the surface is an unprecedented wave of constant halt and unhalts as all stop levels were taken out, many in circuit breaker territory, making it virtually impossible for any matching enginge to, well, match buyers and sellers. Here is a sample:
  • John Galt Hates Ben Bernanke

    04/25/2015 10:24:41 PM PDT · by nickcarraway · 4 replies
    New York Times ^ | APRIL 3, 2015 | Paul Krugman
    Ah: I see that there was a Twitter exchange among Brad DeLong, James Pethokoukis, and others over why Republicans don’t acknowledge that Ben Bernanke helped the economy, and claim credit. Pethokoukis — who presumably gets to talk to quite a few Republicans from his perch at AEI — offers a fairly amazing explanation: B/c many view BB as enabling Obama’s spending and artificially propping up debt-heavy economy in need of Mellon-esque liquidation Yep: that dastardly Bernanke was preventing us from having a financial crisis, curse him. Actually, there’s a lot of evidence that this was an important part of the...
  • There's a new mortgage crisis brewing [Richard Bove]

    02/24/2015 4:49:11 PM PST · by CutePuppy · 24 replies
    CNBC ^ | 2015 February 23 | Richard X. Bove
    In 2008, the nation entered into a financial crisis widely believed to have been caused by excesses in the residential mortgage industry. By 2010, the nation thought it had put in place a series of measures that not only would resolve the crisis but would insure that it never happened again. Yet, here we are in 2015 looking at another potential mortgage crisis. Only this time it is different. In 2008, funds flowed in waves into the mortgage industry. In 2015, it appears the funds are drying up. The solutions to the problem in 2010 and thereafter included: Suing and...
  • Rand Paul Draws Liberal Fire As The Left Discovers Its Inner Love Of The Fed

    02/24/2015 11:57:45 AM PST · by Kaslin · 20 replies
    Townhall.com ^ | February 24, 2015 | Ralph Benko
    The New Republic, in its February 8th issue, carries an article by Danny Vinik entitled Rand Paul Has the Most Dangerous Economic Views of Any 2016 Candidate. It appears that TNR’s fact checkers decamped along with its top journalists. Vinik: Speaking in front of more than 150 Iowa activists, Paul ripped into the Federal Reserve and promoted his “Audit the Fed” bill, which he introduced earlier this week. “I think there needs to be some sunshine,” he said, according to reports of the event. …Paul’s bill …would significantly damage the Fed’s independence, which exists so that politicians cannot influence the...
  • This Man Will Never Be Invited Back On CNBC

    02/10/2015 11:08:58 PM PST · by Nachum · 22 replies
    zero hedge ^ | 2/10/15 | tyler durden
    While Steve had a number of hard to hear quotes for the CNBC anchors - such as: "There is no acceleration in underlying economic activity," and "There's this wrong concept that I keep on hearing about in the financial press about the acceleration in economic growth... It's not happening!" A stunned Simon Hobbs rebuffs, "That's a long list of non-ideal situations we find ourselves in," to which Ricchiuto snaps back "and we can keep on going!" "After a string of dismal data on durable goods, retail spending, and inventories, we get a good jobs number and everyone saying the economy's...
  • 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...
  • #TOLDYA On Goldman

    09/29/2014 9:59:13 AM PDT · by SatinDoll · 6 replies
    Barnhardt ^ | Sept. 29, 2014 | Ann Barnhardt
    I tweeted this the other day, but it needs to be pounded and driven so as many people as possible know and understand it. “I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want.” That title comes from a tweet by Eric Hunsaker of Nanex. It is morally incorrect, obviously, but it rhetorically drives home the point. I was encouraged yesterday by a person whom I did not expect to be following such news asking me if I had heard about “those Goldman Sachs tapes”. It was a sweet moment. “Yes,” I said....
  • Why are my Chicken Thighs suddenly So Expensive?

    12/21/2013 6:42:24 PM PST · by lee martell · 142 replies
    Dec. 21 2013 | Lee Martell
    Today I went to a local supermarket in the Terra Linda area of Marin County, a little north of San Francisco. This large grocery store is but one of many belonging to a very popular grocery retailer. So, I bought six pounds, and eight ounces of chicken thighs at $1.79 per pound. After a little walk around comparison, I see most are within this price range. I end up paying $10.88, minus $1.21 with my Club Card, that equals a grand sum total of $9.67 out of pocket. The store is a great place to shop. The areas are clean....
  • Former Fed Quantitative Easer Confesses, Apologizes: "I Can Only Say: I'm Sorry, America"

    11/12/2013 6:32:25 AM PST · by Starboard · 169 replies
    Zero Hedge ^ | 11/12/2013 | Andrew Huszar
    The Fed keeps buying roughly $85 billion in bonds a month, chronically delaying so much as a minor QE taper. Over five years, its bond purchases have come to more than $4 trillion. Amazingly, in a supposedly free-market nation, QE has become the largest financial-markets intervention by any government in world history. And the impact? Even by the Fed's sunniest calculations, aggressive QE over five years has generated only a few percentage points of U.S. growth. Having racked up hundreds of billions of dollars in opaque Fed subsidies, U.S. banks have seen their collective stock price triple since March 2009....
  • Yellen against Rand Paul’s ‘Audit the Fed’ bill

    11/14/2013 9:37:13 AM PST · by markomalley · 10 replies
    The Daily Caller ^ | 11-14-2013 | Alex Pappas
    President Obama’s nominee to become chairman of the Federal Reserve came out against Kentucky Sen. Rand Paul’s “Audit the Fed” legislation on Thursday. Asked by Republican Sen. David Vitter about the proposal, Yellen said she “strongly” supports “transparency and openness on the part of the Fed” but does not support any proposal that would “diminish” its independence. “I would be very concerned about legislation that would subject the Federal Reserve to short-term political pressures that could interfere with that independence,” she said. Yellen, the vice chairman of the Federal Reserve Board of Governors, made the comments during her confirmation hearing...
  • Ex-Fed official: 'I'm sorry for QE'

    11/13/2013 5:58:23 AM PST · by sr4402 · 9 replies
    Fast Money ^ | Tuesday, 12 Nov 2013 | 6:45 PM ET | Bruno J. Navarro
    "I can only say: I'm sorry, America," he wrote. "The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time."
  • Insight: Yellen Feared Housing Bust But Did Not Raise Public Alarm

    11/02/2013 8:20:16 AM PDT · by Son House · 4 replies
    Reyters ^ | Oct 30, 2013 | Marilyn W. Thompson, Ann Saphir and Alister Bull
    In 2004, the new president told risk managers in San Francisco that closer supervision had "made our financial system far more resilient to shocks." In Phoenix that year, she reported "more positive signs in the economy." She flagged real estate as a concern in March 2005, telling a banking group in Hawaii that her staff was examining commercial lending and was concerned about the "easing of credit standards and terms on loans" for home mortgages. But Yellen ended optimistically, concluding that "we don't think widespread problems are likely" and that "industry conditions in many respects are stronger now than they've...
  • Alan Greenspan: Where the Economy Went Wrong, Where He Went Wrong—and Ayn Rand.

    10/20/2013 3:38:49 AM PDT · by lbryce · 69 replies
    Wall Street Journal ^ | Oct. 18, 2013 6:06 p.m. ET | Alexandra Wolfe
    Complete Title:Alan Greenspan: What Went Wrong The Former Fed chairman on Where the Economy Went Wrong, Where He Went wrong—and Ayn Rand. Alan Greenspan, the former chairman of the Federal Reserve, goes to a lot of parties. He and his wife, the TV journalist Andrea Mitchell, "sort of get invited everywhere," he says, sitting in front of the long bay window in his office on Connecticut Avenue in Washington, D.C. Lately, though, cocktails and dinners seem to have guest lists drawn almost exclusively from one political party or the other. "It used to be a ritualistic 50-50 at parties—the doyennes...