Yellen: Economy Still Needs Extraordinary Support

FoxBusiness.com ^ | 3/31/2014 | Dunstan Prial

[mykroar]

Janet Yellen REUTERS

The monetary policies crafted and initiated by the Federal Reserve are intended to help Main Street rather than Wall Street, Fed Chair Janet Yellen told an audience of grassroots community organizers in Chicago on Monday.

In an address that employed a handful of devices reminiscent of a political speech, Yellen made her case for a dovish approach toward raising interest rates.

Yellen singled out the plights of several individuals – who she named and whose situations she described in detail – to illustrate labor markets are healing slowly and prolonged accommodative policy is needed to ensure labor conditions improve, even as many are calling for higher interest rates to ward off inflation.

“Although we work through financial markets, our goal is to help Main Street, not Wall Street,” Yellen said, in stark populist terms.

[PGalt]

Or eliminating them completely.

ROFLMAO!

You would use the law to oppose socialism? But it is upon the law that socialism itself relies. Socialists desire to practice legal plunder, not illegal plunder. Socialists, like all other monopolists, desire to make the law their own weapon. And when once the law is on the side of socialism, how can it be used against socialism? For when plunder is abetted by the law, it does not fear your courts, your gendarmes, and your prisons. Rather, it may call upon them for help.

(from The Law…”Socialism Is Legal Plunder” - Bastiat)

[Toddsterpatriot]

How about adding to it?

I guess you didn't understand when I said they could add to their mandate I meant that they could add to their mandate.

Go ahead. Subtract something. ANYTHING. Go ahead. Try it.

Yeah, government is too big. Way too big. Duh.

[Toddsterpatriot]

How does the Fed give the citizens debt?