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Keyword: fed

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  • Bernanke Hints at More Monetary Easing, Chicago and Milwaukee Prints Disappoint

    08/31/2012 3:37:53 PM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 08/31/2012 | Anthony B. Sanders
    Federal Reserve Chairman Ben Bernanke spoke at Jackson Hole, Wyoming this morning and … repeated his mantra that The Fed is ready to step in with more easing. “The costs of nontraditional policies, when considered carefully, appear manageable, implying that we should not rule out the further use of such policies if economic conditions warrant.” The word “appear” stuck out like a sore thumb. The stock market reacted negatively to his announcement. There is little The Fed can do about unemployment when the employment to population ratio is stuck in a hole. So, why do it? And housing has been...
  • GOP Considers Return to Gold Standard, Audit the Fed

    08/27/2012 4:18:31 AM PDT · by IbJensen · 22 replies
    New American ^ | 8/26/2012 | Alex Newman
    The Republican Party looks set to adopt platform planks at the upcoming GOP national convention in Tampa to support an audit of the Federal Reserve and to call for a commission to study a return to the gold standard, according to news reports. Analysts had a range of reactions to the news, varying from excitement to disdain and disbelief. Despite media claims that Republicans were seeking an end to centrally managed fiat currency and a return to gold-backed money, drafts of the platform revealed far less ambition. According to sources within the GOP cited in reports, the party is simply...
  • Startling Evidence That Banks And Wall Street Insiders Are Preparing For Something BIG

    08/26/2012 8:47:29 AM PDT · by lbryce · 53 replies
    Economic Collapse ^ | August 25, 2012 | Staff
    Unabridged Title:Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIGIf you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are "connected" have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen. Right now, Wall Street insiders and central banks all around the globe are making some very...
  • Durable Goods Orders (Ex-airplanes) Fall 3.4%, Bernanke Tells Issa About A Possible Hail Mary Pass

    08/24/2012 9:21:18 AM PDT · by whitedog57 · 4 replies
    Confounded Interest ^ | 08/24/2012 | Anthony B. Sanders
    Demand for U.S. capital goods such as machinery and communications gear dropped in July by the most in eight months, indicating companies are pulling back on investment. Bookings for non-military capital equipment excluding airplanes slumped 3.4 percent, a Commerce Department report showed today in Washington. Durable goods orders actually rose 4.2%, but that includes airplane sales. Qantas just cancelled a HUGE order from Boeing for 35 787 Dreamliners. This should result in a big DECREASE in the next month, so I am focusing on Capital Goods New Orders Nondefense Ex Aircraft & Parts MoM. US Flash PMI came out earlier...
  • Fed joins stimulus party as global trade slumps

    08/23/2012 11:10:04 PM PDT · by bruinbirdman · 9 replies
    The Telegraph ^ | 8/23/2012 | Ambrose Evans-Pritchard
    All three major blocs of the world economy have shifted gears dramatically over the last month, preparing a fresh blast of stimulus to combat the sharpest contraction in global trade since the 2008-09 crisis. The US Federal Reserve appears poised for a third round of quantitative easing (QE) as soon as early September, joining Europe and China in concerted global stimulus. The Fed’s latest minutes show broad support for fresh bond purchases – probably mortgage bonds – unless signs of “substantial and sustainable strengthening” emerge soon. Paul Ashworth from Capital Economics said QE3 looks like a “done deal” since little...
  • PRECIOUS-Gold Rises for seventh day after Fed stimulus surprise

    08/23/2012 3:32:16 AM PDT · by Son House · 18 replies
    Reuters ^ | Aug 23, 2012 | Amanda Cooper
    The minutes of the Federal Open Market Committee's meeting at the end of July showed on Wednesday the central bank is likely to deliver another round of stimulus "fairly soon" and that any such decision would be highly dependent on economic data. Analysts said that while the signal that additional stimulus for the U.S. economy was positive for gold in the near term, the most recent read on key indicators such as consumer spending, manufacturing or jobs growth since the Fed's last meeting pointed to a more robust phase of economic growth and as such, gold's gains could be limited....
  • The Fed’s Slippery Ascent of the Fiscal Cliff

    08/20/2012 3:44:50 PM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 08/20/2012 | Anthony B. Sanders
    According to Bloomberg News, “Banks Use $1.77 Trillion to Double Treasury Purchases.” The gap between U.S. bank deposits and loans is growing at the fastest pace in two years, providing lenders with more funds to buy bonds and temper the biggest sell-off in Treasuries since 2010. Well, perhaps it worked. The US Treasury 10 year yield finally came down today after several weeks of rising rates. The Fed may feel pressured into more monetary stimulus and pushing the 10 year (and other Treasury maturities), yet it will do little good. The Fiscal Cliff facing the US is covered with ice....
  • Romney supports audit of the Federal Reserve

    08/20/2012 12:28:26 PM PDT · by RobinMasters · 5 replies
    The Washington Times ^ | August 20, 2012 | Stephen Dinan
    Borrowing Rep. Ron Paul's presidential campaign push, Mitt Romney said Monday he thinks the Federal Reserve should face an audit. "Very plain and simple, the answer is yes. The Federal Reserve should be accountable. We should see what they're doing," Mr. Romney, the presumptive Republican presidential nominee, said at a town hall in New Hampshire. Mr. Paul, the Texas congressman who is still technically in the running for the Republican nomination, though he does not have the delegates to win it at next week's convention, made an audit of the Fed a chief part of his campaign. Earlier this year,...
  • Author Harry Dent to Moneynews: Fed Tactics Won't Save US From Unavoidable Recession

    08/11/2012 5:42:53 PM PDT · by Signalman · 15 replies ^ | 8/10/2012 | Forrest Jones and Kathleen Walter
    The United States cannot avoid sliding back into a recession and Federal Reserve stimulus measures and government spending in general are powerless to prevent it, said financial author Harry S. Dent Jr. The U.S. government, and consumers in general, have been on a borrowing-and-spending spree for too long now and the time has come to let the economy wane while the country pays off its debts. That doesn't happen overnight, and the Fed will surely adhere to its mandate to ensure price stability and optimal labor conditions by rolling out a monetary policy tool known as quantitative easing (QE), under...
  • Guest Post: Has The Perfect Moment To Kill The Dollar Arrived?

    08/07/2012 7:31:48 AM PDT · by bt_dooftlook · 10 replies ^ | 08/07/2012 | Brandon Smith
    The idea of “collapse”, social and financial, comes with an incredible array of hypothetical consequences ranging from public dissent and martial law, to the complete disintegration of infrastructure and the devolution of mankind into a swarm of mindless arm chewing cannibals. In an age of television nirvana and cinema overload, I have found that the collective unconscious of our culture has now defined what collapse is based only on the most narrow of extremes. If they aren’t being hunted down by machete wielding looters or swastika wearing jackboots, then the average American dupe figures that the country is not in...
  • Bernanke: despite recovery, many struggling

    08/06/2012 12:48:45 PM PDT · by John W · 24 replies
    Reuters via Yahoo News ^ | August 6, 2012 | Reuters
    WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Monday that although broad measurements of the economy point to recovery, many people and businesses are facing tough times. "Even though some key aggregate metrics -- including consumer spending, disposable income, household net worth, and debt service payments -- have moved in the direction of recovery, it is clear that many individuals and households continue to struggle with difficult economic and financial conditions," he said in prepared text. Bernanke was speaking to a research conference on the topic of economic measurement. He did not discuss the outlook for monetary policy...
  • What's in your vault? Uncle Sam audits its stash of gold at the New York Fed

    08/04/2012 7:49:43 AM PDT · by Brown Deer · 21 replies
    Los Angeles Times ^ | August 02, 2012 | Andrew Tangel
    The federal government has quietly been completing an audit of U.S. gold stored at the New York Fed. The effort included drilling small holes in the bars to test their purity. The Treasury Department has refused to disclose what the audit has revealed so far, saying the results will be announced by year's end. But as one former top Fed official said recently, the testing may finally prove that "Goldfinger didn't sneak in at night" and take the gold. "The calls for audits are saying, 'We don't trust the government for the last 200 years,'" said Ted Truman, a former...
  • Dr Bernanke to Investors: “How about NO!” to Instant Monetary Relief

    08/01/2012 12:35:29 PM PDT · by whitedog57 · 5 replies
    Confounded Interest ^ | 08/01/2012 | Anthony B. Sanders
    Like Dr. Evil in the movie “Goldmember,” Dr. Bernanke answered the question today about instant monetary relief: “How about NO!“ That is, no change in the Fed Funds Target. Or Twist or QE3. But he did say that he is willing to do additional monetary easing if necessary to boost economic growth. “The committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.” Not surprising in the least. The US has morphed into...
  • Here's What Fed May Do Instead Of More QE

    08/01/2012 3:27:16 AM PDT · by Son House · 14 replies
    CNBC ^ | Aug 01, 2012 |
    The plan works in a fairly simple manner: In the UK`s case, the BofE is lending short-term government bills to banks, which use the securities as collateral to borrow money from the central bank at a rock-bottom rate - about 0.25% - and then make loans. Banks can borrow up to 5% of the value of their existing loan books, and the loans from the BofE are four years in duration. The program is similar to something the Fed tried, with considerable success, during the financial crisis that exploded in 2008. The Fed is meeting Tuesday and Wednesday and will...
  • The Fed’s FOMC Decision: Hands Tied By Excessive Regulations and Poor M2 Money Velocity

    07/29/2012 10:12:43 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 07/29/2012 | Anthony B. Sanders
    The Federal Reserve’s Open Market Committee will meet on July 31 and August 1. What will they do? The broader economic indicators for the U.S. are either slowing down or not improving. Real GDP growth was revealed to be a paltry 1.50% for Q2 2012 following 2.0% for Q1 2012 and 4.0% for Q4 2011. U6 unemployment (Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons) remains at near 15%. Since June 2010, more Americans have gone on disability than have dropped off of unemployment rolls by 237,000. And an additional 4.9 million Americans...
  • What will last longer, The Constitution or The Fed?

    07/28/2012 11:03:22 AM PDT · by ExxonPatrolUs · 11 replies
    none | now | me
    Essay assignment for fellow Freepers: What will last longer, The Constitution or The Fed?
  • House Passes Ron Paul’s ‘Audit the Fed’ Bill (Nancy Pelosi, Bawney Fwank vote No to help bankers)

    07/25/2012 1:45:14 PM PDT · by JimWayne · 5 replies
    Wall Street Journal ^ | July 25, 2012 | Kristina Peterson and Siobhan Hughes
    The Senate would be almost certain to defeat it given the Democratic majority in the chamber... “This is a way to shake your fist at the big bad Fed, and it’s not a good way,” Rep. Barney Frank (D., Mass.), the top Democrat on the House Financial Services Committee, said on the House floor Tuesday.
  • Here Come The Fed: Home Sales Drop More Than Expected, Mortgage Purchase Applications Drop Too

    07/25/2012 8:07:56 AM PDT · by whitedog57 · 5 replies
    Confounded Interest ^ | 07/25/2012 | Anthony B. Sanders
    For June, home purchases decreased to a 350,000 annual rate, down 8.4 percent from the prior month and the weakest since January, the Commerce Department reported today in Washington. The forecast was for 372,000 units, a big swing and a miss. The decline was led by a record 60 percent plunge in the Northeast. And 350,000 units is down from the upwardly revised number of 382,000 for May. The Mortgage Bankers Association released their weekly mortgage application indices this morning. As I mentioned to Lori Rothman on Fox Business last week, the MBA Purchase Index is an important index to...
  • Democrats warn Rep. Paul's 'audit the Fed' bill will politicize monetary policy

    07/24/2012 4:29:25 PM PDT · by markomalley · 36 replies
    The Hill ^ | 07/24/12 | Pete Kasperowicz
    Several senior House Democrats warned that passing a bill from Rep. Ron Paul (R-Texas) requiring a full audit of the Federal Reserve Board's monetary policy decisions will allow Congress greater leverage to put political pressure on these decisions, which they said would cause serious problems in the U.S. and global financial markets. The Federal Reserve Transparency Act, H.R. 459, was expected to come up for a vote Wednesday, and seemed poised for passage given its 270 co-sponsors, including nearly four dozen Democrats. Nonetheless, many Democrats used the Tuesday floor debate to warn about the chances that Congress might use the...
  • LIBOR: A Question of Trust

    07/20/2012 7:32:26 AM PDT · by Brown Deer · 1 replies
    Edwin M. Truman explains why the spreading LIBOR scandal has the potential of raising new doubts over the reputations for honesty of many large financial institutions.