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Is Janet Yellen in the hot seat after poor jobs report?
NY Post ^ | June 6, 2016 | John Crudele

Posted on 06/07/2016 4:48:19 AM PDT by expat_panama

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 the God’s honest truth is, I don’t know what the economy is doing. One minute it looks better, the next worse.

“If anyone out there knows, please let me know.

“President Trump has his ideas about a wall. Well, I’d like to build a wall around all my Fed presidents and lock them inside. Shut them all up. They don’t know what the freak they are talking about and they are making me stunad.

“I could go on about core inflation and rising wages, the U-6 unemployment rate and the labor participation rate. But I think by now you all know that this is total horse droppings! We don’t know what’s going on, and I’m not going to try to fool you anymore.

And, please, President Trump. I’d like to keep my job. See, I can straight-tawk with the best of them, ya’ know.”

TRUMP: “Who the hell is this woman? How did she keep her job this long? Fired!”...

...fascinating tidbits... ...poor whites are now...

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: New York
KEYWORDS: 2016election; crudele; economy; election2016; fed; investing; janetyellen; newyork; trump; yellen
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To: expat_panama

They don’t have the power to lower rates at this point. If they don’t start raising rates at some point they won’t get that tool back. Besides the horrible Obama economy is likely because of Obamacare and heavy regulation rather than interest rates.


21 posted on 06/07/2016 6:00:27 AM PDT by Pelham (Barack Obama. When being bad is not enough and only evil will do)
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To: expat_panama

“She still hasn’t apologized for that crazy hike last December...”

Yellen: I’m sorry it hasn’t destroyed the country yet. But my globalist banker gods are happy.


22 posted on 06/07/2016 6:07:04 AM PDT by WKUHilltopper (And yet...we continue to tolerate this crap...)
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To: expat_panama
Trolls tell us that a lot on the FR, but low interest rates have never had that affect in decades past.

The low interest rates of the past were driven by the market, mainly in commercial and consumer markets . The current low interest rates in most markets are an economic fiction created by QE. Of course our QE ended as some trolls here point out but only for now while other CB's continue. It will be back, and with that anticipation, rates stay low. The fed funds rate was not market driven in the past just as today.

However the FOMC increased the real FFR in the 50's. They lowered the real FFR in the 60's and 70's resulting in stagflation and economic chaos. They raised the real FFR in the 80's and 90's until the idiot Greenspan created his put. That essentially created a speculative economy based on the expectations of rate changes (either direction).

Today's inflation expectations are low mainly because the economy is crap, not because of expected tightening. The fed can't control inflation, not on the downside and not on the upside. All they can do is create bubbles in carry trade and commodities which pop and make the economy worse.

The worst impact is discouraging low term commitments of real money (not borrowed). The economy stagnates because (essentially) everybody is speculating in the various bubbles that come along and (essentially) nobody is putting their money into 10 or 20 year investments.

23 posted on 06/07/2016 6:12:33 AM PDT by palmer (Net "neutrality" = Obama turning the internet over to foreign enemies)
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To: HarleyD
How come Obama takes credit when the job report is (artificially) good and someone else is to blame when it’s not?

Being a democRAT means never having to take responsibility.

24 posted on 06/07/2016 6:16:16 AM PDT by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: Flick Lives
If they back off the minuscule hike they applied, they look like they don't really know what is going on.

They don't.


25 posted on 06/07/2016 6:19:07 AM PDT by Buckeye McFrog
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To: laconic
No, they will raise rates on November 6th. ON that date, we will also find out the “real” unemployment rate (double digits), the “real” inflation rate (much higher than reported when you factor in necessities) and the fact that the economy has slowed to zero growth. The press will be the first to report it, but only AFTER the election.

*if Trump wins. If Hillary wins the kabuki dance will continue.


26 posted on 06/07/2016 6:21:08 AM PDT by Buckeye McFrog
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To: AndyJackson

Agreed.


27 posted on 06/07/2016 6:22:29 AM PDT by expat_panama
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To: expat_panama
Is Janet Yellen in the hot seat after poor jobs report?

Oh God no, it's Bush's fault.

28 posted on 06/07/2016 6:36:14 AM PDT by rockabyebaby (We are sooooooooooooooooooooooooooooooooo screwed!)
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To: palmer
current low interest rates in most markets are an economic fiction created by QE.

You may or may not be talking about "Quantiitve Easing", but no matter what "Fed stuff" you mean it all happened after market rates fell.  fwiw, the prime rate's listed here and it shows that interest rates have been falling since the '80's, and they did most of the recent drop from '07 thru '08 and all that e v i l TARP and QE never got on line till later --a reaction to market rates. 

29 posted on 06/07/2016 6:41:23 AM PDT by expat_panama
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To: 2banana

I beleive you are correct.

If they raise rates now, a major portion of the budget will have to be used to pay just the interest on the debt. So, they cant raise it or the country goes into default...or prints even more money to pay for that interest. And we all know how that works out-IE Germany after WW1.


30 posted on 06/07/2016 7:01:31 AM PDT by crz
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To: expat_panama

The prime largely follows fed rates, and QE and stupid TARP were to prop up banks destroyed by low rates.


31 posted on 06/07/2016 8:43:06 AM PDT by palmer (Net "neutrality" = Obama turning the internet over to foreign enemies)
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To: Original Lurker

#3 she will barely be able to get by on her 6 figure federal pension and multi million dollar salary from Goldman Sachs....... : )


32 posted on 06/07/2016 10:58:29 AM PDT by minnesota_bound
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To: AdmSmith; AnonymousConservative; Berosus; Bockscar; cardinal4; ColdOne; Convert from ECUSA; ...

this one here was in response to Zero’s stupid, ignorant/lying remark the other day:

VFW Commander to Obama: Don’t Insult Vets’ Intelligence
NewsMax | June 3, 2016 | Jason Devaney
Posted on 06/06/2016 2:05:23 PM PDT by KeyLargo
http://www.freerepublic.com/focus/news/3437492/posts


33 posted on 06/07/2016 11:15:58 AM PDT by SunkenCiv (I'll tell you what's wrong with society -- no one drinks from the skulls of their enemies anymore.)
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To: Flick Lives

That’s the rub. The Fed knows the economy is in the crapper and has been for the last eight years. Yet el-presidente’ and the department of lies, eh Labor keep trotting out numbers saying all is well 5% unemployment and the sycophant groupies posing as journalists eagerly bleat out verbatim elpresidente’s proclamations on the economy.

So what’s a Fed chairman to do? Rile el-presidente’ and risk his wrath where at the least he removes your or at the worst decides he knows best and takes over the Federal Reserve, yes he is that arrogant and power hungry or try play along with the lie to the point where you pretend the economy is peachy and start the interest rate increases like all is well, knowing it’s a disaster.

I predict they dither with maybe one more increase in the rate and then do nothing until after the election in an attempt to hold things together until to get the witch elected, then it hits the fan.


34 posted on 06/07/2016 11:42:07 AM PDT by sarge83
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To: expat_panama
Is Janet Yellen in the hot seat after poor jobs report?

Why? Putting everybody out of meaningful work is the plan, after all.

She will probably get a bonus.

35 posted on 06/07/2016 12:55:32 PM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: palmer
The prime largely follows fed rates, and QE and stupid TARP were to prop up banks...

Back when you said "current low interest rates in most markets are an economic fiction created by QE" the story I was getting was that low market rates "destroyed the economy" and were a "fiction created by QE".  That's why we looked at "the prime rate's listed here" to see how rates were falling before the recession and econ activity did not stop contracting until after rates had reached their low point.

Now it sort of sounds like we're together on the idea that low rates came after fed action and that QE did not cause ZIRP and wreck the economy.  The thing about QE/TARP only "to prop up banks" is getting off topic --the thread is about Yellen and her problems w/ leaving ZIRP behind.  Ordinarily I got no problem w/ hijacking a thread for some new theme but somehow this is sounding like the problem I got w/ my liberal in-laws who start one attack and when I point to the facts they just quickly change the target. 

Please work w/ me on this, where do we stand on QE making a ZIRP that's wrecking the economy?

36 posted on 06/07/2016 1:50:37 PM PDT by expat_panama
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