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Keyword: fed

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  • Furloughed feds won’t be RIFed if government shutdown extends past 30 days, OMB says

    01/15/2019 5:42:30 PM PST · by TigerClaws · 25 replies
    Agencies won’t need to consider targeted layoffs, otherwise known as reductions-in-force (RIFs), if the current partial government shutdown continues for another few days. While federal statute typically instructs agencies to RIF targeted groups of employees who have been placed on furlough status for 30 days or more, the regulations don’t apply to emergency furlough situations, the Office of Management and Budget confirmed Tuesday. Some astute Federal News Network readers had questioned whether their agencies could RIF furloughed employees if the current government shutdown, now at 25 days and counting, hits the 30-day mark. There are two kinds of furloughs. “Administrative...
  • As Shutdown Continues, Thousands Of Federal Workers Visit D.C.-Area Pop-Up Food Banks

    01/13/2019 9:58:14 AM PST · by Baynative · 87 replies
    NPR ^ | Jan 13, 2019 | Ian Stewart
    Early Saturday morning, nearly 200 people stood in the freezing cold outside a Maryland supermarket waiting to collect a small allotment of free food. They were federal employees, there to pick up fresh produce and canned goods from the Capital Area Food Bank, which organized five pop-up food distribution centers for government workers.
  • Dow surges 800 points after Powell comments, blowout jobs report

    01/04/2019 10:17:27 AM PST · by abb · 86 replies
    CNBC ^ | January 4, 2019 | Fred Imbert
    Stocks rallied on Friday after two positive pieces of news for the market. At 8:30 a.m., the Labor Department said the U.S. economy added 312,000 jobs in December. That blew past an expectation of 176,000 jobs. Later on Friday morning, Federal Reserve Chairman Jerome Powell said the central bank will be patient in raising rates, quelling fears of tighter monetary policy in the near future. The Dow Jones Industrial Average rose 800 points, or 3.5 percent. The S&P 500 rallied 3.5 percent, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.3 percent. This was a...
  • Fed Chair Powell says he would not resign if asked

    01/04/2019 8:15:09 AM PST · by DoodleDawg · 51 replies
    Reuters ^ | 1/4/19 | Anon
    Federal Reserve Chairman Jerome Powell on Friday said he has not received any direct communication from the White House about his job performance, and that he would not resign even if President Donald Trump asked him to do so.
  • Current Federal Reserve Interest Rates and Why They Change

    12/31/2018 9:28:01 AM PST · by texas booster · 13 replies
    The Balance ^ | Dec 19 2018 | Kimberly Amadeo
    ... The FOMC raised the fed funds rate a quarter point to 2.5 percent on December 19, 2018. Prior to that, the Fed had raised rates to the following levels: 0.5 percent on Dec. 15, 2015. 0.75 percent on Dec. 14, 2016. 1.0 percent on March 5, 2017. 1.25 percent on June 14, 2017. 1.5 percent on Dec. 13, 2017. 1.75 percent on March 21, 2018. 2.0 percent on June 13, 2018. 2.25 percent on September 26, 2018. The Fed finished tapering off its quantitative easing program in 2013. That was a massive expansion of the Fed's open market operations...
  • The Federal Reserve is PRIVATELY OWNED

    12/30/2018 10:11:53 AM PST · by MNDude · 152 replies
    Dear American: Pursuant to your request, I will attempt to clear up questions you have about the Federal Reserve Bank (FED). I spent much time researching the FED and these are the shocking and revealing conclusions. Article 1, Section 8 of the Constitution states that Congress shall have the power to coin (create) money and regulate the value thereof. Today however, the FED, which is a privately owned company, controls and profits by printing money through the Treasury, and regulating its value. The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per...
  • Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump

    12/27/2018 11:52:59 AM PST · by COUNTrecount · 135 replies
    Daily Mail UK ^ | December 27, 2018 | Francesca Chambers
    Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump in bid to end feud that left stock markets reeling over fears president will fire him Dow Jones closed up 1,086.25 points, or 4.98 per cent, on Wednesday It was the stock index's largest single-day points gain in U.S. history Follows biggest-ever Christmas Eve plunge for markets on Monday White House officials tried to soothe fears over Trump's fury at Federal Reserve He's upset about rate hikes and reportedly said he wanted to fire the fed chair Federal Reserve Chairman Jerome Powell is now telling the White...
  • Trump blasts Federal Reserve as ‘only problem’ with US economy

    12/24/2018 11:28:26 AM PST · by E. Pluribus Unum · 47 replies
    Washington Examiner ^ | December 24, 2018 12:25 PM | Kelly Cohen
    President Trump condemned the Federal Reserve early Christmas Eve as the stock market dipped on Monday’s short trading day amid interest rate concerns and federal government shutdown drama. “The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders,” Trump said in a tweet Monday. “The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!” The attack comes after Bloomberg News reported late Friday that Trump had discussed firing Federal...
  • Blame the Federal Reserve for the tanking stock market

    12/24/2018 8:06:20 AM PST · by SeekAndFind · 59 replies
    New York Post ^ | 12/24/2018 | Jonathan Trugman
    Ok, so what in the 21st century could lead a stock market to the worst December since the Great Depression year of 1931? Let’s start by saying I have always liked Fed Chair Jay Powell’s pragmatic image. I only hope I wasn’t fooled. He has the ideal experience mix of Washington finance and private sector, so he ought to be able to tell the forest from the trees. But last week’s Fed meeting was even more disastrous than the one in September. Since the September meeting — when the Fed hiked rates because the economy was displaying “strong labor market...
  • Trump has discussed firing Fed chief after latest interest rate hike: report

    12/22/2018 4:15:01 AM PST · by Libloather · 93 replies
    The Hill ^ | 12/21/18 | BROOKE SEIPEL, JOHN BOWDEN
    President Trump has discussed firing Federal Reserve chairman Jerome Powell after the central bank announced this week that it would raise interest rates, Bloomberg reports. **SNIP** Powell publicly pushed back against the president earlier this month after Trump tweeted urging the Fed to resist raising interest rates, citing a stock market selloff. “I know, and everyone who works at the Fed knows, that we’re going to do our jobs the way we’ve always done them,” Powell said at a press conference at the time. Trump previously said in October that he would "maybe" regret selecting Powell to succeed the Federal...
  • In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy – Dow Lost Over $4 Trillion in Val

    12/20/2018 9:00:33 AM PST · by bitt · 119 replies
    GATEWAY PUNDIT ^ | 12/20/2018 | JOE Hoft
    Since October The Fed has single-handedly dismantled the US economy. The Trump tax cuts at year end 2017 set the economy on fire. The US stock markets set numerous records. So the Fed had to step in and kill the economy or, God forbid, he would get re-elected in 2020! The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year. The Dow immediately dropped 720 points in 10 minutes. The DOW was down at one point by 894 points! The Fed is clearly a political machine not working in the interest of...
  • I hope the people over at the Fed will read today’s WSJ Editorial before they make another mistake.

    12/18/2018 5:38:26 AM PST · by Moonman62 · 45 replies
    Twitter ^ | 12/18/18 | President Trump
    I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!
  • Trump thought Yellen was too short to be Fed chair

    12/03/2018 10:58:00 AM PST · by a little elbow grease · 34 replies ^ | 12/3/18 | Matt O'Brien
    (snip) --- Janet L. Yellen was the most qualified Federal Reserve chair we’ve ever had and maybe the most successful Federal Reserve chair we’ve ever had. But, in part because she was also the shortest Federal Reserve chair we’ve ever had, she wasn’t reappointed by President Trump. (snip) -- That’s not a joke, or at least not a deliberate one. Trump, according to The Washington Post, seems to believe that the Fed is a lot like a roller coaster: You have to be so tall to go on it. In particular, he thought that the 5-foot-3-inch Yellen was too short...
  • President George H. W. Bush Blamed the Fed for his 1992 Reelection Loss – And the Fed is Doing ..

    12/02/2018 12:30:27 PM PST · by bitt · 50 replies
    GATEWAY PUNDIT ^ | 12/2/2018 | Jim Hoft
    The Fed has done all they can to derail Republican Presidents for the past half century. President George H. W. Bush blamed the Fed for his loss in 1992. George H. W. Bush believed balancing the budget was his top priority, but his efforts to do so were constantly hindered by his “no new taxes” pledge. He held conservative views on government spending and believed that issues like homelessness and crime were important, but that the government should not use more tax money to fix such issues. Bush agreed to a budget agreement in 1990 which looked to the long-run...
  • Can the President Fire the Fed Chairman? How Trump Could Fire Powell And Rebuild The Fed

    11/28/2018 1:28:02 PM PST · by SeekAndFind · 100 replies
    Forbes ^ | 11/28/2018 | Patrick Watson
    In recent weeks, Trump criticized Federal Reserve Chairman Jerome Powell several times. He doesn’t like that Powell is leading the Fed to raise interest rates.Past presidents avoided such comments so they wouldn’t appear to be interfering. But Trump doesn’t care about appearances.The Fed is somewhat insulated from electoral politics. The chair and board members have fixed terms. Its composition changes slowly... but it doesn’t have to.Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors.Markets should pay attention. I don’t think they are. Breaking Precedent A common perception, even among Fed...
  • Fed Chairman Powell sends markets soaring with suggestion rate hikes may slow

    11/28/2018 9:49:22 AM PST · by mandaladon · 18 replies
    WaPo ^ | 28 Nov 2018 | Damian Paletta
    Federal Reserve Chairman Jerome Powell on Wednesday suggested the central bank could be close to slowing down the pace of its recent interest rate increases, saying rates are now just slightly below what he considers a “neutral” level. His comments marked a sharp change from his position last month, when he said the Fed still had a “long way” to go before it reached that equilibrium. U.S. stock markets soared on Powell’s comments, as he appeared to signal that the Fed would not move forward aggressively to raise rates much further than it already has. Still, by saying rates were...
  • Trump is Right: The Fed is a Big Problem

    10/29/2018 10:00:07 AM PDT · by SeekAndFind · 19 replies
    Mises Institute ^ | 10/29/2018 | Thorsten Polleit
    President Donald J. Trump has taken on the Federal Reserve (Fed), saying that Fed chairman Jerome H. Powell is threatening US economic growth by further raising interest rates. Mainstream economists, the financial press and even some politicians react with indignation: the president’s comments undermine the Fed’s political independence, potentially endangering the confidence in the US dollar. Such a public reaction is, at first glance, understandable – as mainstream economists have declared the political independence of the central bank a "golden calf" issue. Monetary theorists argue that a politically independent central bank is best for the currency and the economy. As...
  • Ex-Fed chief Greenspan: This is the tightest labor market I've ever seen

    10/18/2018 3:32:07 PM PDT · by DannyTN · 17 replies ^ | 10/18/2018 | Berkeley Lovelace Jr
    ... "This is the tightest market, labor market, I've ever seen, he said in an interview with "Squawk Box." "But concurrently, we have a very slow productivity increase." ...
  • Dow tumbles 650 points to new low on day, bringing 2-day losses to more than 1,400 points

    10/11/2018 11:57:57 AM PDT · by BradtotheBone · 98 replies
    CNBC ^ | 10/11/2018 | Fred Imbert
    Stocks fell in volatile trading Thursday, a day after the major indexes suffered steep losses sparked by higher rates and a sell-off in tech shares. The Dow Jones Industrial Average traded 650 points lower, bringing its two-day losses to more than 1,400 points. The S&P 500 dropped 2.1 percent and was on pace for a six-day losing streak. The broad index also broke below its 200-day moving average for the first time since May. The Nasdaq Composite pulled back 1.5 percent and entered correction territory. The major indexes fell after some of the major tech names failed to recover from...
  • Trump attacks ‘loco’ US Federal Reserve after worst stock market sell-off in months

    10/11/2018 7:49:48 AM PDT · by SeekAndFind · 64 replies
    Yahoo News ^ | 10/11/2018 | Justin Sink
    Donald Trump hit out at the Federal Reserve on Wednesday, accusing them of “going loco” over interest rate hikes this year, hours after the worst US stock market sell-off since February. Mr Trump said in an interview on Fox News that the market plunge was not because of his trade conflict with China, instead blaming the US central bank. “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous. The Fed is going loco.” He added: “They’re so tight. I think the Fed has gone...