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Yellen: Economy Still Needs Extraordinary Support
FoxBusiness.com ^ | 3/31/2014 | Dunstan Prial

Posted on 03/31/2014 4:40:22 PM PDT by 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.

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


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: business; fed; unemployment; yellen
Always leave them laughing. The rest of the hilarity is at the link.
1 posted on 03/31/2014 4:40:23 PM PDT by mykroar
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To: mykroar

Yeah, but the only street benefiting is Wall Street and wealthy types. Everyone else has been screwed.


2 posted on 03/31/2014 4:42:28 PM PDT by dforest
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To: mykroar

Crony capitalists rejoice.


3 posted on 03/31/2014 4:46:44 PM PDT by VRWC For Truth (Roberts has perverted the Constitution)
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To: mykroar
"...our goal is to help Main Street, not Wall Street,” Yellen said

The lies get more blatant with each successive appointment.

4 posted on 03/31/2014 4:50:12 PM PDT by steve86 (Acerbic by nature not nurture)
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To: dforest

Yeh, Hey Janet nobody but Wall Street has anything left.


5 posted on 03/31/2014 4:50:43 PM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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To: dforest

HEY YELLEN! relax...FATCA is only a few months away...


6 posted on 03/31/2014 4:51:44 PM PDT by bigheadfred
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To: bigheadfred
If you keep the bond rates low it hurts the savers you claim to be helping dumby. Their value is eaten up by you inflating the money supply as well.
7 posted on 03/31/2014 4:54:35 PM PDT by jimpick
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To: mykroar
Translation: “Your grandchildren’s debt is now extended to include your great-grandchildren.
8 posted on 03/31/2014 5:09:15 PM PDT by Huskrrrr
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To: mykroar

9 posted on 03/31/2014 5:11:56 PM PDT by Nachum (Obamacare: It's. The. Flaw.)
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To: mykroar

“The monetary policies crafted and initiated by the Federal Reserve are intended to help Main Street rather than Wall Street”

Buy Giving Wall Street all your Money and by printing as much as we can get away with. And Never Ever prosecute anyone for the FRAUD if they are a coveted member of the Too Big to Fail crowd.


10 posted on 03/31/2014 5:18:16 PM PDT by eyeamok
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To: jimpick

True. It also continues to allow extremely marginal credit risks to obtain 30 year rates below what an 800 plus FICO could get in 2003 on a 15.


11 posted on 03/31/2014 5:22:15 PM PDT by Lumper20 ( clown in Chief has own Gov employees Gestapo)
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To: mykroar

NO? Really?

Well I never...

Actually, I always...


12 posted on 03/31/2014 5:29:21 PM PDT by DoughtyOne (Immigration Reform is job NONE. It isn't even the leading issue with Hipanics. Enforce our laws.)
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To: mykroar

The economy is brain dead and on life support. Pull the plug on the printing presses and it is all over. It is over anyway.


13 posted on 03/31/2014 5:36:06 PM PDT by inpajamas (http://outskirtspress.com/ONE)
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To: mykroar

ELIMINATE the FED

Socialism Is Legal Plunder - Bastiat

http://www.usdebtclock.org

How to Identify Legal Plunder

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

The person who profits from this law will complain bitterly, defending his acquired rights. He will claim that the state is obligated to protect and encourage his particular industry; that this procedure enriches the state because the protected industry is thus able to spend more and to pay higher wages to the poor workingmen.

Do not listen to this sophistry by vested interests. The acceptance of these arguments will build legal plunder into a whole system. In fact, this has already occurred. The present-day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it.

Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task.

/Bastiat

CRONY SOCIALIST CONSTRUCTS


14 posted on 03/31/2014 6:39:34 PM PDT by PGalt
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To: PGalt
How to Identify Legal Plunder

The Fed is legal plunder? How so?

15 posted on 04/01/2014 5:25:16 PM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot

A socialist construct working in conjunction with the U.S.A. (United Socialists of America) devaluing the time of life of the citizens of the republic with debt and devalued fiat.


16 posted on 04/01/2014 7:56:23 PM PDT by PGalt
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To: PGalt
A socialist construct

How so?

devaluing the time of life of the citizens of the republic with debt and devalued fiat.

How does the Fed give the citizens debt?

17 posted on 04/01/2014 7:59:49 PM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot

How so?

UNACCOUNTABLE

How…

An unaccountable paper factory for socialists who destroy.


18 posted on 04/03/2014 9:05:53 AM PDT by PGalt
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To: PGalt
UNACCOUNTABLE

But of course they're accountable. Congress could pass a new law adding to or subtracting from their mandate. Or eliminating them completely.

How does the Fed give the citizens debt?

19 posted on 04/03/2014 9:09:26 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot

Or eliminating them completely.

ROFLMAO!

How about adding to it?

http://www.fas.org/sgp/crs/misc/R42572.pdf

BIG GOVERNMENT IS CRONY SOCIALISM

Didn’t you get the memo, Toddster…

We’re All Socialists Now

http://www.usa.gov/directory/federal/index.shtml?id=60031

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


20 posted on 04/03/2014 9:31:34 AM PDT by PGalt
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To: Toddsterpatriot

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)


21 posted on 04/03/2014 9:56:35 AM PDT by PGalt
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To: PGalt
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.

22 posted on 04/03/2014 10:25:06 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: PGalt

How does the Fed give the citizens debt?


23 posted on 04/03/2014 10:25:37 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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