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Keyword: bernake

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  • Ever Wonder What Happened to Turbo-Tax Tim Geitner???: Got Cronies?

    11/16/2013 9:26:51 AM PST · by NOBO2012 · 4 replies
    Michelle Obama's Mirror ^ | 11-16-2013 | MOTUS
    Let's take a break from Obamacare, shall we? Here’s big news: Turbo-Tax Timmy is definitely NOT going to replace the Bernanke as Chairman of the Federal Reserve. My that was good! I wonder what the private sector has to offer? He wanted to make some real money, so instead of just picking up another federal pension he’s going to go to work for Warburg Pincus LLC starting next spring! Right after the release of the book he’s been working on, “How I Saved Wall Street the Whole World from Financial Collapse with Your Tax Dollars.” Butt wait: Warburg Pincus? Aren’t...
  • Economist Caution: Prepare For 'Massive Wealth Destruction'

    10/14/2013 7:05:27 AM PDT · by IbJensen · 25 replies
    Money News ^ | 10/13/2013 | Staff
    Take immediate steps to protect your wealth . . . NOW! That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis. Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive...
  • Bernanke probably won't stand for third term at Fed: NYT

    10/27/2012 2:31:30 PM PDT · by opentalk · 11 replies
    Reuters ^ | October 23, 2012
    (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke has told close friends he probably will not stand for a third term at the central bank even if President Barack Obama wins the November 6 election, the New York Times reported. Republican presidential nominee Mitt Romney has already said he would not re-nominate Bernanke if he wins the presidency. Bernanke's term as chairman ends in January 2014
  • Fed Chairman Ben Bernanke Warns Congress on ‘Taxmaggedon’: ‘If You All Go on Vacation...

    06/07/2012 7:09:27 PM PDT · by TigerLikesRooster · 12 replies
    ABC ^ | 06/07/12
    Jun 7, 2012 4:46pm Fed Chairman Ben Bernanke Warns Congress on ‘Taxmaggedon’: ‘If You All Go on Vacation, It’s Still Going to Happen’ The Federal Reserve Board Chairman had a stern warning today for Congress: “Taxmaggedon” is real, it’s coming and only lawmakers can save the nation from falling off this rapidly approaching “fiscal cliff.” “What is particularly striking here is that this is all pre-programmed,” Fed Chairman Ben Bernanke said. “If you all go on vacation, it’s still going to happen, so it’s important to be thinking about that and working with your colleagues to see how you might...
  • Bernanke urges caution in sharp deficit cutting

    02/02/2012 9:50:10 AM PST · by yinandyang · 4 replies
    Yahoo Finance ^ | Feb 2, 2012 | Martin Crutsinger
    -snip- Bernanke told the House Budget Committee that he recognizes that huge budget deficits represent a serious threat to the economy -snip- "I think this policy runs the great risk of fueling asset bubbles, destabilizing prices and eventually eroding the value of the dollar," Ryan told Bernanke. "The prospect of all three is adding to uncertainty and holding our economy back."
  • 'Mini-Stagflation' to Present Big Headache for Bernanke

    08/28/2011 11:15:15 PM PDT · by MontaniSemperLiberi · 18 replies
    cnbc ^ | Friday, 26 Aug 2011 | Jeff Cox
    Federal Reserve Chairman Ben Bernanke used the word “inflation” exactly seven times in this Jackson Hole speech Friday. What he didn’t mention once was inflation’s ugly cousin and its baggage of not only rising prices but also higher unemployment. The prospect of stagflation, indeed, is raising a growing amount of hackles on Wall Street these days on worries that the jobless picture isn’t getting any better and the cost of living—the primary effect of inflation—is rising. Core inflation [cnbc explains] , mainly a measure of price increases not including food and transportation, gained 2.2 percent annualized in the second quarter,...
  • Stocks Recover After Bernanke Predicts US Growth

    08/26/2011 9:55:24 AM PDT · by edpc · 17 replies
    AP via Yahoo News ^ | 26 Aug 2011 | Daniel Wagner
    Stocks rose in afternoon trading Friday after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth. Bernanke left open the possibility of more action by the Fed if another recession looks likely. But he announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo.
  • UPDATE 3-White House denounces Perry as Republicans target Fed

    08/17/2011 3:53:03 AM PDT · by SkyPilot · 98 replies
    Reuters ^ | 16 Aug 11 | Patricia Zengerle
    * Perry threatens Fed chairman, Bachmann also criticizes * Remarks reflect intense political pressure on Fed * White House says threatening Bernanke "not a good idea" (Adds fresh quotes from Bachmann, Obama, economist) WASHINGTON, Aug 16 (Reuters) - The White House denounced Republican presidential candidate Rick Perry on Tuesday for his threatening remarks toward the head of the U.S. Federal Reserve that represented some of the most inflammatory rhetoric of the 2012 election campaign. Campaigning in Iowa on Monday, the Texas governor said he would consider it "treasonous" if Fed Chairman Ben Bernanke "prints more money between now and the...
  • Bernanke has thrown in towel on economy

    08/10/2011 11:36:58 AM PDT · by Signalman · 27 replies
    CNN Money ^ | 8/10/2011 | Paul R. La Monica
    NEW YORK (CNNMoney) -- Is the Federal Reserve waving the white surrender flag? It sure looks that way. The Fed made the unusual (and unprecedented) move on Tuesday to tell the market in plain English that it intends to keep rates near zero for the next two years! That is disappointing on many levels. First and foremost, it is a crystal clear sign from Ben Bernanke and other Fed members that they think the economic recovery (if one could still call it that) will remain tepid for a long time. That is probably one of the reasons that the post-Fed...
  • Analysis: QE3 may do more harm than good

    07/27/2011 5:20:58 AM PDT · by mlocher · 5 replies
    Reuters via Fidelity.com ^ | July 27, 2011 | Natsuko Waki
    LONDON (Reuters) - There may be a point at which global investors get indigestion from U.S. money printing. A fresh round of U.S. monetary easing may even do more harm than good for long-term investors as another flood of easy money into fast-growing emerging economies risks refueling oil and commodity price inflation, sapping consumption and growth. Prospects for a third round of the Federal Reserve's quantitative easing program (QE3) grew this month after Chairman Ben Bernanke said the central bank was prepared to ease further if economic growth and inflation falter again. Nearly in one in two fund managers surveyed...
  • Federal Reserve Lowers GDP, Raises Unemployment And Inflation Projections

    06/24/2011 8:45:43 AM PDT · by radioone · 10 replies
    Zero Hedge ^ | 6-22-11 | Tyler Durden
    The Fed has just taken one small step to acknowledging reality... and Zero Hedge's keyword of 2011: stagflation. The FOMC released its revised 2011-2013 economic forecast, which saw GDP getting slashed, while hiking its inflation and unemployment projections. Specifically, 2011 GDP was lowered from 3.2% to 2.8% even as it raised its average unemployment forecast from 8.6% to 8.8%. Next up: the stampeding herd of Wall Street lemmings follows suit. Below is the consensus 2011 GDP forecast from Wall Street "economists." I.e., from the people who are paid millions each year to maintain the status quo. So much for QE2.
  • Bernanke's Talk Kills Stock Rally (unexpectedly????)

    06/07/2011 4:22:02 PM PDT · by radioone · 10 replies
    WSJ ^ | 6-7-11 | STEVEN RUSSOLILLO And BRENDAN CONWAY
    NEW YORK—A gloomy economic assessment from Federal Reserve Chairman Ben Bernanke erased an earlier stock rally, sending major indexes in the final minutes of Tuesday's session to their fifth consecutive drop.
  • Ben Bernanke’s Lone Positive Legacy: A Return To The Gold Standard

    05/03/2011 11:50:02 AM PDT · by blam · 6 replies
    TWS - Forbes ^ | 5-3-2011 | Bill Frezza
    Ben Bernanke’s Lone Positive Legacy: A Return To The Gold Standard Bill Frezza - Forbes.comMay 3, 2011 I’ll make two predictions with utter confidence. The first is that one day Federal Reserve Chairman Ben Bernanke will be ridden out of town on a rail, joining Arthur Burns in that special circle of hell reserved for monetary debauchers. The second is that in the aftermath of our pending inflationary disaster we will see the gold standard return. The Federal Reserve long ago lost control of inflation, now ravaging several sectors of our economy. This is obvious to every economist not a...
  • Hacker Group Anonymous Brings Peaceful Revolution To America (going after corrupt Fed)

    03/12/2011 11:05:09 PM PST · by Frantzie · 36 replies
    Zero Hedge ^ | 3-13-2011 | Tyler Durden
    The world's most (in)famous hacker group - Anonymous - known for effectively shutting down their hacking nemesis security firm (with clients such as Morgan Stanley and, unfortunately for them, Bank of America)- HBGary, advocating the cause of Wikileaks, and the threat made by one of its members that evidence of fraud by Bank of America will be released on Monday, has just launched communication #1 in its Operation "Empire State Rebellion." The goal - engage in "a relentless campaign of non-violent, peaceful, civil disobedience" until Ben Bernanke steps down and the "Primary Dealers within the Federal Reserve banking system be...
  • Marc Faber Calls Bernanke A Liar, Thinks US Inflation Is Running Up To 8%

    02/02/2011 10:58:23 AM PST · by Frantzie · 15 replies
    Zero Hedge ^ | 2-2-2011 | Tyler Durden
    Marc Faber is on a roll these days. The Gloom, Doom and Boom report author, who recently made headlines after calling Obama a whore minutes ahead of the president's SOTU address, proceeds to go on a truthiness rampage, and with his now traditional grin, proceeds to call Satan Bernanke a "liar" to the entire CNBC Europe audience. In addition to making his thoughts clear on the topic of inflation (5-8%), he also observes where the Egyptian riots will strike next: "You may not have a problem in Saudi Arabia and in the Emirates, in Kuwait and Qatar, because there the...
  • Jim Grant: "The Fed Is Now In The Business Of Manipulating The Stock Market"

    01/28/2011 5:18:56 PM PST · by Frantzie · 28 replies
    Zero Hedge ^ | 1-28-2011 | Tyler Durden
    Jim Grant, who will never be accused of being a fan of the Criminal Reserve, and whose views on what will happen to asset prices in a printer-happy world are gradually being validated, appeared on Bloomberg TV, telling Margaret Brennan upfront that Bernanke owes the world an apology. Alas, after various revolutions around the world have been catalyzed by Bernanke's policies, we have a feeling that ever more oppressed people will soon see the Printer in Chief as a patron saint of violent revolution, alas against crony regimes fully supported by the US (and hopefully the US will view it...
  • THe FaMiLY iS 100% SaFe (Funny crime family pictures of Banskters and O)

    01/22/2011 7:52:28 PM PST · by Frantzie · 7 replies · 1+ views
    Zero Hedge ^ | 1-22-2011 | William Banzai 7
    Banzai7 News-- Rumors that a special interagency organized crime task force consisting of hundreds if not thousands of Federal agents (aka "Operation Action Jackson") would be targeting financial organized crime this weekend appear to have been totally unfounded. You can take that to the Federal Reserve Bank!
  • End the Fed - Buy Gold and Silver (good video take on 1984 Apple Mac)

    01/02/2011 10:15:58 PM PST · by Frantzie · 15 replies
    You Tube/Zero Hedge ^ | 1-1-2011 | tofumary2
    http://www.zerohedge.com/article/proper-way-use-sledge-hammer From Zero Hedge too.
  • The Goldman Sack Blows The Whistle On The JP Morgue Silver Manipulation Scheme

    12/03/2010 7:40:59 PM PST · by Frantzie · 53 replies · 1+ views
    Zero Hedge ^ | 12-3-2010 | Tyler Durden
    The Xtranormal bubble is now bigger than even Netflix. And all who have been waiting to understand the JP Morgue silver manipulation scheme explained by cartoon bears, here it is. Also, The Ben Bernank makes a cameo appearance. We recommend having some blood in your alcoholstream before watching this.
  • Little Timmy Warns us About Politicizing the Fed...oh my.

    11/20/2010 5:42:38 AM PST · by CincyRichieRich · 12 replies
    That B-berg site we can't publish | 11-20-10 | Not me
    Go read it.
  • Must Watch: David Stockman Says The Fed Is Injecting High Grade Monetary Heroin

    11/04/2010 8:08:36 PM PDT · by Frantzie · 10 replies
    Zero Hedge ^ | 11-4-2010 | Tyler Durden
    Today's absolutely must watch clip comes from David Stockman, director of the OMB under Ronald Reagan. "An independent Fed is what we had when I was in the government. Volcker was the head of it...Today the Fed is scared to death that the boys and girls and robots on Wall Street are going to have a hissy fit.
  • The "Discrimen" Of Change Is Near - (Economic) Experiment Comes To An End

    06/07/2010 7:14:48 AM PDT · by blam · 13 replies · 30+ views
    The Business Insider ^ | 6-7-2010 | Keith McCullough, Hedgeye
    The "Discrimen" Of Change Is Near, As The Bernanke-Geithner-Keynes-Japanese Experiment Comes To An End Keith McCullough, Hedgeye Jun. 7, 2010, 10:00 AM“I will either find a way, or make one.”-Hannibal One of our most successful European clients recently sent me a book that I can’t put down: Tom Holland’s “Rubicon – The Last Years of The Roman Republic.” As a behavioral study, the parallels of power and politics between then and now are interesting to consider. The Rubicon is the river in northern Italy that Julius Caesar infamously crossed in 49BC to officially declare what was considered the unthinkable –...
  • Bernanke And Paulson Are Free?

    02/07/2010 3:49:02 PM PST · by blam · 7 replies · 491+ views
    The Market Ticker ^ | 2-7-2010 | Karl Denninger
    Bernanke And Paulson Are Free?Sunday, February 7. 2010Posted by Karl Denninger in Corruption at 18:08 Lewis' "legal team" (maybe Ken Lewis himself) has apparently said: "If this thing goes to trial you can expect both Paulson and Bernanke to be on the witness list." If he's going down, he's bringing them down, too. Please? Paulson and Bernanke in the dock? That's worth a Youtube. Or a dozen Youtubes, especially if they get fitted for orange jumpsuits. And let me be clear: I believe they should be. Arm-twisting is one thing, but I suspect there's more than enough dirt to fit...
  • Why Is Senator Kirk Still Voting on Legislation?

    01/30/2010 12:58:14 PM PST · by opentalk · 85 replies · 3,771+ views
    Big Government ^ | Jan 28th 2010 | SusanAnne Hiller
    The Senate has voted on three pieces of legislation today that required 60 votes–to raise the debt ceiling to $14.3 trillion, to reduce the deficit by establishing five-year discretionary spending caps, and Ben Bernanke’s confirmation–all of which interim Senator Paul Kirk (D-MA) has voted on. In addition, there have been other Senate votes since Scott Brown was elected as Massachusetts senator that Kirk cast a vote. The main question here is: why is former Senator Kirk still voting on these legislative pieces? According to Senate rules and precedent, Kirk’s term expired last Tuesday upon the election of Scott Brown. Furthermore,...
  • Get Real, Bernanke Didn't 'Save' Our Economy

    01/29/2010 3:37:09 AM PST · by mgist · 4 replies · 321+ views
    Fox News ^ | 1/28/2010 | Alex Epstein
    Get Real, Bernanke Didn't 'Save' Our Economy The Fed is printing more money, lending it more cheaply than Alan Greenspan did, and encouraging Americans (and their government) to borrow and spend far more than they can afford. http://www.foxnews.com/static/managed/img/Opinion/Bernanke_Ben_Reuters397_doomsday_604x341.jpg"> But in reality, “the maestro,” along with Bernanke (who would become the maestro’s hand-picked successor) had spawned and fueled an economy-warping orgy of lending, borrowing, and unsustainable housing bubble profits that would not have existed without ultra-cheap money.
  • Argentina Central Bank Mutiny Costs Local Bernanke Equivalent His Job, Criminal Charges

    01/07/2010 3:28:49 PM PST · by blam · 2 replies · 274+ views
    The Business Insider ^ | 1-7-2010 | Zero Hedge
    Argentina Central Bank Mutiny Costs Local Bernanke Equivalent His Job, Criminal Charges Zero HedgeJan. 7, 2010, 5:41 PM A surreal harbinger of what may well transpire in the US some day was today's firing of the president of Argentina's Central Bank Martin Redrado by president Cristina Fernandez de Kirchner. The action followed his refusal to release reserves to the government to be used for debt service payments, as well as his refusal to resign. At least in Argentina the Central Bank is answerable to the president, instead of the other way around.[snip] Read the whole post at ZeroHedge -- >
  • Ben Bernanke's Huge Mistake About The Crisis Will Screw Us All

    01/04/2010 11:29:51 AM PST · by blam · 9 replies · 794+ views
    The Business Insider ^ | 1-4-2010 | John Carney
    Ben Bernanke's Huge Mistake About The Crisis Will Screw Us All John Carney Jan. 4, 2010, 1:30 PM The grimmest news of the new year has to be the fact that Fed chairman Ben Bernanke still has no clue about the causes of our financial crisis or what measures need to be undertaken to avoid another crisis. Bernanke gave a speech yesterday at the Annual Meeting of the American Economic Association that did two things. First, he exonerated Alan Greenapan’s low-interest rates from blame for the housing bubble, arguing that the housing bubble began before the Fed pushed interest rates...
  • Federal Reserve repeats extended low interest rates

    12/17/2009 8:14:25 AM PST · by meandog · 5 replies · 416+ views
    The Federal Reserve Open Market Committee concluded its last scheduled interest rate meeting of 2009 Wednesday with no change in rates and a pledge to keep borrowing costs exceptionally low for an extended period. In leaving its benchmark rate in a range of zero to 0.25 percent, the Fed acknowledged both improvement and continued weakness. “Household spending appears to be expanding at a moderate rate, though it remains constrained by a weak labor market, modest income growth, lower housing wealth and tight credit,” policy makers said in a statement. “Businesses are still cutting back on fixed investment, though at a...
  • Gerald Celente Says Bernanke Has Devalued The Dollar And Destroyed The Economy

    12/08/2009 10:10:59 AM PST · by blam · 4 replies · 502+ views
    Gerald Celente Says Bernanke Has Devalued The Dollar And Destroyed The Economy Politics / Central Banks Dec 08, 2009 - 03:22 AM By: Submissions Gerald Celente of the Trends Research Institute is strongly opposed to the idea of Ben Bernanke seeking and getting a second term as head of the Federal Reserve. Celente strongly argues that Bernanke is creating the “bailout bubble” and destroying the U.S. economy. But he says the Fed Chief will get to keep his job because he’s an “insiders.” According to Celente, the fact? that Bernanke is being put back in charge after royally screwing things...
  • Breaking: Obama to Re-Nominate Bernake

    08/24/2009 6:42:31 PM PDT · by Kozman · 28 replies · 1,027+ views
    ...according to a senior White House official, President Obama is going to re-nominate Ben Bernanke as Fed chairman.
  • Candidate Bernanke hits the campaign trail

    07/27/2009 1:12:32 PM PDT · by markomalley · 5 replies · 394+ views
    al Reuters ^ | 7/27/2009 | James Pethokoukis
    If Ben Bernanke were running TV ads, taking polls and holding town hall-style meetings, it wouldn’t be any clearer that he’s conducting an explicit reelection campaign for another four-year term as Federal Reserve chairman come next January. Oh, wait a second, he just did hold an unprecedented town hall meeting. And it was one worthy of a presidential candidate charming primary voters in Iowa. At the Kansas City Fed last night, Bernanke answered a couple dozen questions from 190 area residents for a three-part public television broadcast. Like a veteran politico, he tossed out the occasional platitude (”The best way...
  • Emails show Fed strong-armed BofA

    06/10/2009 6:42:40 PM PDT · by Drill Thrawl · 5 replies · 534+ views
    CNNMoney ^ | June 10, 2009: 8:53 PM ET | Jennifer Liberto
    SPECIAL REPORT Road to Rescue Emails show Fed strong-armed BofA A day before Bank of America CEO Ken Lewis is due on Capitol Hill, emails detail the pressure the Fed put on BofA to complete its merger with Merrill Lynch. EMAIL | PRINT | SHARE | RSS TWITTER Yahoo! Buzz DIGG FACEBOOK DEL.ICIO.US REDDIT STUMBLE UPON MYSPACE MIXX IT Subscribe to Companies feed://rss.cnn.com/rss/money_news_companies.rss Paste this link into your favorite RSS desktop reader See all CNNMoney.com RSS FEEDS (close) By Jennifer Liberto, CNNMoney.com senior writer Last Updated: June 10, 2009: 8:53 PM ET WASHINGTON (CNNMoney.com) -- Bank of America CEO Ken...
  • Monetary Policy Rebooted ("Biggest Experiment in Monetary Policy History")

    03/19/2009 11:16:52 AM PDT · by mojito · 18 replies · 645+ views
    Commentary ^ | 3/19/2009 | Francis Cianfrocca
    The Federal Reserve announced a momentous shift in policy yesterday. Its import was easy to miss because, as always with the Fed, it was written in a jargon only superficially resembling English. But its intention is to take actions that will deeply shift the policy landscape, probably to a much greater extent than Congress’s various stimulus plans. The Fed announced an American version of what has been called “quantitative easing,” or QE. The Japanese have done this before, and the British got into it a few weeks ago. You can think of it, with no loss of accuracy, as inflation....
  • But What About The Next $750 Billion Of Writedowns?

    10/14/2008 8:10:59 AM PDT · by Candor7 · 9 replies · 454+ views
    Clusterstock , Research and Analysis Live ^ | Oct 14, 08 9:08 AM | Henry Blodget
    We like the new bailout. We think it will ease the credit crisis and get banks lending to each other again (if not to consumers). The Treasury is finally focusing on the equity side of the balance sheet: The taxpayers' money will go farther here and address the major problem--insolvency. Equity injections will also allow taxpayers to participate in the upside when (if) bank stocks recover. The preferred stock structure makes sense, as does the "callable" feature in which banks can buy out the security in three years. All that said, we still have one big question: What about future...
  • Is America becoming socialist?

    09/21/2008 9:59:45 AM PDT · by vietvet67 · 68 replies · 1,206+ views
    The Times of India ^ | 21 Sep 2008 | Swaminathan S Anklesaria Aiyar
    Socialists, like Hugo Chavez in Venezuela or Indira Gandhi in India, are famous for nationalising the biggest corporations. But the US government has taken over three of its biggest corporations within two weeks. Has the US turned socialist? American right-wingers moan that this is indeed the case. Meanwhile, Indian leftists are stunned at nationalisation in a country they view as pitilessly capitalist. Two of the nationalised corporations, Fannie May and Freddie Mac, are by far the biggest mortgage lenders in the world, with $5 trillion of mortgages and loans on their books. That’s five times India’s GDP, to put their...
  • Don't Blame Ben

    06/30/2008 5:07:59 PM PDT · by Kaslin · 1 replies · 90+ views
    IBD Editorials ^ | June 30, 2008
    Energy: The Federal Reserve and its leader, Ben Bernanke, have taken a lot of hits in recent weeks. Some even suggest that the energy crisis is due more to Fed fumbling than anything else. This is preposterous.It's one thing to suggest the Fed has erred in setting interest rates. Heck, IBD's been a thorn in its side so long we sometimes feel we do nothing but correct errant central bankers. That said, the Fed's conduct of monetary policy isn't what's causing our current energy crisis. The energy crunch is a result of two things being out of whack: supply and...
  • JPMorgan and Fed Move to Bail Out Bear Stearns

    03/14/2008 7:56:01 AM PDT · by indcons · 26 replies · 899+ views
    NYT ^ | LANDON THOMAS Jr.
    Bear Stearns, facing a grave liquidity crisis, reached out to JPMorgan on Friday for a short-term financial lifeline and now faces the prospect of the end of its 85-year run as an independent investment bank. With the support of the Federal Reserve Bank of New York, JPMorgan said in a statement that it had “agreed to provide secured funding to Bear Stearns, as necessary, for an initial period of up to 28 days.” For the next month, JPMorgan will work with Bear Stearns to reach a solution for its financing crisis. Options could include organizing permanent financing or, according to...
  • A Year Into the Job, the Jury Is Out on Bernanke

    02/10/2007 10:13:44 AM PST · by frithguild · 13 replies · 284+ views
    SmartMoney.com ^ | 2/9/2007 | Don Luskin
    HAPPY ANNIVERSARY TO Ben Bernanke! At least it's an anniversary — it's now been a year since he took the helm of the Federal Reserve. But how happy it's been is a judgment that history isn't ready to make yet. The stock market is certainly happy about Bernanke's first year. The S&P 500 turned in a 14.5% total return over the year (well above the long term average of only 10.5%, according to data from Ibbotson Associates). And the Dow Jones Industrial Average is at all-time highs. But when I was asked on a television program this week to grade...
  • Cavalcade of Errors

    08/13/2006 9:53:57 AM PDT · by frithguild · 3 replies · 305+ views
    Smart Money.com ^ | August 11, 2006 | Don Luskin
    SEPT. 1 HAS BEEN officially declared "Ben Bernanke Day" in Dillon, S.C. The small town where Bernanke grew up will award the new Federal Reserve chairman the Order of the Palmetto. But last week Bernanke was back in Washington, presiding over a meeting of the Federal Open Market Committee. I call that day "Judgment Day." It's the day the Fed made a tragic policy mistake that will send the U.S. economy into recession within the next 12 months. When the consequences of that FOMC are eventually fully felt, stocks are going to be lower than they are today. Paradoxically, though,...
  • Fed minutes warn on inflation

    06/01/2006 12:13:01 AM PDT · by MadIvan · 5 replies · 355+ views
    The Financial Times ^ | June 1, 2006 | Christopher Swann
    The Federal Reserve in the minutes of its May meeting warned that inflationary risks had increased, setting the scene for a nail-biting decision over whether to continue raising rates this month.The minutes were more hawkish than the previous release by the Fed and revealed that committee members had been surprised by the increase in inflationary pressures since March. The comments leave the outcome of the Fed’s next meeting on June 28 wide open, with the committee conceding that they were “uncertain about how much, if any, further tightening would be needed”. “Inflation pressures appeared to be somewhat greater than the...
  • Meet the Fed's Elusive New Inflation Target

    04/11/2006 4:38:13 AM PDT · by OpusatFR · 14 replies · 510+ views
    TheStreet.com ^ | 2/25/00 2:07 PM ET | By Elizabeth Roy
    Inflation ain't what it used to be. That's long been true in the sense that the inflation rate is now a lot lower than it has been for most of the decade. But it's newly true in a different sense: The Fed has a new way of measuring inflation. In its most recent Humphrey-Hawkins report, released last Thursday, the Federal Open Market Committee said it was changing its primary measure of inflation. Instead of forecasting the rate of increase in the Consumer Price Index, the FOMC is now forecasting the rate of increase of an inflation measure contained in the...
  • Fed Official Warns of Changes

    03/01/2006 12:03:32 PM PST · by antaresequity · 12 replies · 478+ views
    Washington Post ^ | 03.01.06 | Nell Henderson
    Fed Official Warns of Changes Financial Tools Outpacing Controls, Geithner Cautions By Nell Henderson Washington Post Staff Writer Wednesday, March 1, 2006; Page D02 A top Federal Reserve official warned yesterday that the U.S. financial system is evolving faster than the ability of investors, lenders and regulators to evaluate and manage the risks involved. --- snip ---One source of concern Geithner highlighted was the recent rapid growth in credit derivatives -- financial contracts whose value is linked to corporate bonds and loans. The instruments allow investors to bet on the creditworthiness of a company, while spreading the risk of corporate...