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Keyword: federalreserve

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  • Will Trump Stop Washington from Kicking the Can Down the Road?

    11/01/2017 11:04:01 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | October 31, 2017 | Brian Garst
    For years, both Republicans and Democrats alike have played "day of reckoning" politics with America's fiscal and monetary policy. Racking up over $20 trillion in debt—$13.7 trillion of which came under just the past two administrations alone—artificially inflated economic data like the GDP and the official employment rate, the costs of government meddling can only remain hidden for so long.Thanks to the reckless spending and money printing policies of the past decade, we now have a federal bill that will be very difficult to pay off, a Social Security system that is projected to go insolvent in just 15 years,...
  • Everything you need to know about Jerome Powell, Trump's likely pick to lead the Federal Reserve

    10/31/2017 7:15:57 AM PDT · by SeekAndFind · 3 replies
    Business Insider ^ | 10/31/2017 | Pedro Nicolaci da Costa
    President Donald Trump looks set to appoint Jerome Powell, a former private-equity executive at Carlyle Group who now sits on the Federal Reserve board, as the next Fed chair. While the official announcement is not expected until Thursday, several news outlets starting with Politico have reported that he is the likely nominee, citing White House sources. The choice of Powell would be a departure in a long tradition of reappointing Fed chairs to a second term, regardless of party affiliation. Janet Yellen, a Democrat, actively interviewed for the job. Powell, a 64-year-old Republican, was appointed to the Fed's powerful Washington-based...
  • Trump expected to nominate Powell for Fed chair (Jerome H. Powell)

    10/30/2017 2:50:30 PM PDT · by maggief · 14 replies
    WaPo ^ | October 30, 2017 | Heather Long and Damian Paletta
    President Trump is expected to nominate Jerome H. Powell as the next chair of the Federal Reserve, according to two people familiar with the president's decision who spoke on the condition of anonymity. The White House intends to announce the Fed chair selection on Thursday.
  • Fire Erupts on Roof of Federal Reserve Building in Manhattan: FDNY

    10/08/2017 6:39:54 AM PDT · by dynachrome · 9 replies
    NBC New York ^ | 10-8-17 | NBC New York
    Dozens of firefighters were fighting a blaze on top of the Federal Reserve Bank of New York on Saturday night, officials say. The fire broke out sometime before 8:40 p.m. on the roof of the 14-story building at 33 Liberty St. in Lower Manhattan. Video shows numerous fire trucks and firefighters at the scene around 9 p.m. The FDNY said a generator on the roof of the building caused the fire in a chimney.
  • Federal Reserve to Launch Its Own E-currency: Fedcoin

    09/23/2017 11:10:02 AM PDT · by PPSman · 39 replies
    EconomicPolicyJournal.com ^ | September 23, 2017 | Robert Wenzel
    The U.S. Federal Reserve will not only issue its own cryptocurrency but will also make sure Americans use it, according to Doug Casey. To start with, I suspect its going to be a parallel currency. Perhaps usable just within the U.S. which, in effect, would be a form of foreign exchange controls even more effective than the inability of Americans to open up foreign bank and brokerage accounts today [due to monetary control through FATCA]I think its a near certainty that theyre going to do something like this and soon. They will call it Fedcoin. David Andolfatto, vice president at...
  • Inflation is Coming, Inflation is Coming!

    09/23/2017 6:24:24 AM PDT · by Kaslin · 69 replies
    Townhall.com ^ | September 22, 2017 | Dan Celia
    All around the Federal Reserve building, someone for years has been riding his horsea la Paul Reverecrying out in excitement over the notion that 2 percent inflation is finally coming. This week, Janet Yellen has finally gotten to where many other Central Bankers around the world already areits not happening. Were not even close. Especially since we havent seen any real, sustainable increases in the Producer Price Index (PPI) or the Consumer Price Index (CPI). Indeed, the European Central Bank leaders (along with the Fed) have been throwing everything they possibly can at inflation, and it doesnt seem to move....
  • The Federal Reserve is setting America up for economic disaster

    09/19/2017 7:24:05 PM PDT · by Tolerance Sucks Rocks · 75 replies
    The Hill ^ | September 18, 2017 | Armstrong Williams
    I recently had the opportunity to read "The Creature from Jekyll Island" by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions. America joined World War I largely to help a few bankers profit off the war (despite a long-standing Monroe doctrine that prohibited our involvement in European affairs) The Bolshevik Revolution of 1917 was supported by international financial interests in order to destabilize Russia and steal the wealth of the Russian people; and So-called "foreign aid" is merely a...
  • Janet Yellen's No. 2 at the Fed is stepping down

    09/06/2017 11:06:59 AM PDT · by DFG · 14 replies
    Yahoo ^ | 09/06/2017 | Myles Udland
    Federal Reserve vice chair Stanley Fischer is resigning from his post at the central bank effective in mid-October, the Fed announced Wednesday. Fischer cited personal reasons in his resignation letter to President Donald Trump. Fischers term as vice chair was slated to end on June 12, 2018. It has been a great privilege to serve on the Federal Reserve Board and, most especially, to work alongside Chair [Janet] Yellen as well as many other dedicated and talented men and women throughout the Federal Reserve System, Fischer wrote.
  • Hatred of Feds, Calls for Revolution Motives of Man rrested in Foiled Oklahoma City Bomb Plot

    08/16/2017 9:58:44 PM PDT · by nickcarraway · 8 replies
    KFOR ^ | BILL MISTON | AUGUST 15, 2017
    Out for blood: Hatred of federal government, calls for revolution alleged motives of man arrested in foiled Oklahoma City bomb plotA hatred of the federal government and calls for a revolution are just some of the alleged motives behind an Oklahoma man's attempted plot to blow up a downtown Oklahoma City building, patterned after the deadly 1995 Oklahoma City federal building bombing. Jerry Drake Varnell, 23, of Sayre, Okla. was arrested early Saturday morning after a van, laden with 1,000 pounds of what he believed to be ammonium nitrate and fuel oil, failed to detonate outside the BancFirst National Building...
  • The Fed Has 6,200 Tons of Gold in a Manhattan BasementOr Does It?

    08/10/2017 2:34:18 PM PDT · by Red Badger · 42 replies
    www.wsj.com ^ | Aug. 10, 2017 12:30 p.m. ET | By Katy Burne
    Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold. Or doesnt. The Fed tells visitors its basement vault holds the worlds biggest official gold stash and values it at $240 billion to $260 billion. But no one at all can be sure the gold is really there except Fed employees with access, said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has never in its history provided any proof. Mr. Manly is among gold...
  • If You Use Netflix, This is Why You Need to Thank Janet Yellen

    07/18/2017 10:55:20 AM PDT · by PPSman · 13 replies
    There is an incredible number of nouveau high tech firms that are experiencing huge losses. Uber lost $2.8 billion last year. The firms are able to sustain these losses because of the remarkable Federal Reserve money printing. If the Fed wasn't printing money the way they are now, there is no way the funds would be available to support these losses. Here's a look at the money the Fed has pumped into the system since the 2008 financial crisis:
  • Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime'

    06/27/2017 11:22:33 AM PDT · by HokieMom · 65 replies
    CNBC ^ | 6/27/17 | Jeff Cox
    Fed Chair Janet Yellen said Tuesday that banks are "very much stronger" and another financial crisis is unlikely anytime soon. Speaking during an exchange in London with British Academy President Lord Nicholas Stern, the central bank chief said the Fed has learned lessons from the financial crisis and has brought stability to the banking system. Banks last week passed the first round of the Fed's stress tests to see how they would perform under adverse conditions like a 10 percent unemployment rate and turbulence in commercial real estate and corporate debt. "I think the public can see the capital positions...
  • Sen. Elizabeth Warren calls for removal of 12 Wells Fargo board members

    06/19/2017 7:28:33 PM PDT · by Tolerance Sucks Rocks · 50 replies
    CNBC ^ | June 19, 2017 | Jeff Cox
    Sen. Elizabeth Warren is calling for the ouster of 12 board members at Wells Fargo due to the fake accounts scandal that has rocked the bank. In a letter sent Monday to Federal Reserve Chair Janet Yellen, the Massachusetts Democrat said the scandal has "revealed severe problems with the bank's risk management practices." Warren said the central bank has the authority under federal statute to remove the members who were on the board as the matter transpired. "We have received the letter and plan to respond," a Fed spokesman told CNBC. In an agreement with multiple authorities last September, Wells...
  • Trump set to make first moves at completely revamping the Federal Reserve

    06/06/2017 6:35:05 PM PDT · by Tolerance Sucks Rocks · 85 replies
    CNBC ^ | June 5, 2017 | Jeff Cox
    President Donald Trump appears ready to remake the Federal Reserve in an image that will be considerably different than what investors have known for many years. The president is prepared to nominate Randal Quarles and Marvin Goodfriend to two of three vacancies at the central bank, according to multiple press accounts that have not been disputed by the administration. Quarles likely would assume the role vacated by Daniel Tarullo to oversee the nation's banking system. White House officials did not respond to a CNBC request for comment. Should Trump nominate the two men and they receive confirmation, it will represent...
  • Fed fines Deutsche Bank $41M over money laundering controls

    05/30/2017 10:10:51 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | May 30, 2017 7:53 PM EDT | Marcy Gordon
    The Federal Reserve has fined Germanys largest bank $41 million for failure to maintain controls against money laundering in its U.S. operations. The U.S. regulators announced the penalty against Deutsche Bank on Tuesday, citing unsafe and unsound practices. The global bank also agreed to an order requiring it to improve oversight by senior management in complying with anti-money-laundering laws in the U.S. operations. The action follows $629 million in penalties levied against Deutsche Bank in January by New York state and British regulators for lapses in controls that allowed wealthy Russians to allegedly launder about $10 billion in illicit funds...
  • [N.Korea]Kim Jong Un may be behind biggest bank heist in history

    03/22/2017 11:02:38 PM PDT · by TigerLikesRooster · 13 replies
    NY Post ^ | March 22, 2017 | Kevin Dugan
    Kim Jong Un may be behind biggest bank heist in history he man behind the biggest bank heist in history may have been Kim Jong-un. Federal prosecutors are preparing to finger North Korea for orchestrating the theft of $81 million from the Bangladesh central banks account at the Federal Reserve Bank of New York last year, according to a report.
  • If We Had Our way: New Year's Resolutions for the New Congress

    01/02/2017 1:41:53 PM PST · by VitacoreVision · 10 replies
    The New American ^ | 02 January 2017 | Charles Scaliger
    Now that the dust has settled on the elections, the time has come (or so some of the punditry in the media assure us) to set aside political acrimony and unite under the new leadership of President-elect Donald Trump and the new House and Senate. Although its far from clear what President Trump will choose to prioritize, now that he will face the realities of entrenched political interests in Washington instead of his fired-up political base on the hustings, it seems at least possible that he will show much more sympathy for certain constitutionalist and Americanist causes such as...
  • Debt Frozen at $19,808,747,000,000For 15 Days

    03/31/2017 10:29:59 AM PDT · by Olog-hai · 4 replies
    Cybercast News Service ^ | March 31, 2017 | 12:11 PM EDT | Terence P. Jeffrey
    The portion of the federal debt that is subject to a legal limit set by Congress plummeted by $56,758,000,000 on March 15 hitting its lowest level of 2017, according to the Daily Treasury Statement. On that same day, the federal debt hit its legal limit, according to the same Daily Treasury Statements. For the 15 days since then, according to the Treasurys statements, the debt subject to the limit has been frozen at $19,808,747,000,000approximately $25 million below the new legal limit. The debt was able to hit its legal limiteven on a day when it was plunging dramaticallybecause when the...
  • The Feds Are Being Investigated

    03/28/2017 12:24:47 PM PDT · by HarleyLady27 · 32 replies
    Market Watch ^ | March 28, 2017 | Gregg Robb
    In a move that Democrats in the committee fought very hard to resist, a house panel has approved a legislation that will allow a government watchdog audit the federal reserve's spending. Democrats in the committee were firmly against the bill.
  • Democrats pleased that new Fed president Raphael Bostic is black

    03/13/2017 4:30:02 PM PDT · by kevcol · 54 replies
    The Washington Examiner ^ | March 13, 2017 | Joseph Lawler
    Sen. Sherrod Brown, the top Democrat on the Senate Banking Committee, said Bostic's appointment "is an historic step forward that is long overdue. In its century of existence, the Fed's ranks have lacked the kind of diversity of race, gender, background and ideas that reflects the wide spectrum of Americans' experiences and economic realities." Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, also issued a statement applauding the appointment of Bostic as the first black and first openly gay regional Fed president.