Posted on 02/11/2014 10:21:25 AM PST by Rodamala
In her first testimony before Congress as Federal Reserve Chair Janet Yellen pledged to continue on the path set by her predecessor Ben Bernanke. “His leadership helped make our economy and financial system stronger and ensured that the Federal Reserve is transparent and accountable,” said Yellen in a remarks delivered before the House Committee of Financial Services Tuesday morning.
Speaking about the economic recovery, monetary policy and the financial systems Yellen expressed optimism about developments in recent months, but also made it clear work must be done to meet the Federal Open Market Committee’s objectives for the economy.
In a note following the release of Yellen’s prepared remarks, Jim O’Sullivan chief U.S. economist at High Frequency Economics, said, “Her statement was effectively an expanded version of the last FOMC statement, with no new signals on tapering, thresholds, forward guidance or recent economic data.” Introducing Yellen, Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee, noted that Yellen offered to stay on the Hill all day. The offer, he said, boded well for her pledge to be “transparent and accountable,” but the committee needed to decline.
(Excerpt) Read more at forbes.com ...
Janet Yellen , “ ya think that they bought it ? “ LOL
She’ll keep providing easy money until unemployment goes down. Which is what she is supposed to do, according to the Federal Reserve act.
The question is whether she will believe the government’s unemployment numbers which are obviously false, or seek out different measurements. I think she has followed unemployment enough in the past that she won’t take the government’s figures at face value.
The problem is nobody is addressing unemployment. We need to raise the import tariffs and lower the income tax by a corresponding amount.
It does not mater who is named head of the FED the world bank is the one pulling the strings.
It's seems to be the general consensus that Wall St. has been the main beneficiary of QE. Why then would Wall St. want to cut-off it's easy-money sugar daddy over a hard-working stiff?
...so have they therefore set up a scenario where companies that do hire get punished...and companies that layoff get rewarded?
In today's greed-rot society...nothing would surprise me.
The marriage between Wall St. and D.C. should have been annulled(by force if necessary)decades ago, instead it's been allowed to grow and fester like a cancer, one that's now become malignant.
Free money, not so much.
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