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Keyword: federalreserve

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  • 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...
  • The Federal Reserve is PRIVATELY OWNED

    12/30/2018 10:11:53 AM PST · by MNDude · 141 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...
  • Financial analyst describes Fed chair Powell as ‘train wreck under the Christmas tree’

    12/26/2018 3:53:06 PM PST · by SleeperCatcher · 9 replies
    The National Sentinel ^ | 12/26/18 | USA Features
    The U.S. markets in December have taken a beating, posting the biggest losses for the month since 1931. In all, the Dow Jones Industrial Average is off more than 3,300 points from its Sept. 21 high of 26,656.98 (though the index has risen about 500 points on the day Wednesday). The Dow’s losses are tied to a number of uncertainties, we are told, including the trade war with China, the current partial government shutdown and, some believe, the fact that Democrats won the House in November and the Trump economic miracle is likely to be stymied.
  • Stocks Extend Fall Despite Mnuchin Bid to Reassure Investors: Dow drops 2% or more for fifth time

    12/24/2018 11:43:28 AM PST · by reaganaut1 · 80 replies
    Wall Street Journal ^ | December 24, 2018 | Avantika Chilkoti and Michael Wursthorn
    A bruising stock selloff continued, erasing more than 650 points from the Dow Jones Industrial Average as Treasury Secretary Steven Mnuchin tried to instill calm into a jittery market. Coming off the stock market’s worst week since the 2008 financial crisis, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite fell for a fourth straight session Monday as investors continued to weigh the impact of rising interest rates, slowing U.S. growth, and the ramifications of a government shutdown extending into January. With the selloff showing little signs of slowing, Mr. Mnuchin attempted to reassure investors, saying he had spoken...
  • 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 administration pushes back on report Trump could fire Fed chairman

    12/22/2018 3:49:27 PM PST · by E. Pluribus Unum · 18 replies
    Washington Examiner ^ | December 22, 2018 06:41 PM | Updated Dec 22, 2018, 06:42 PM | Colin Wilhelm
    The Trump administration pushed back Saturday against a report that President Trump is considering firing Federal Reserve Chairman Jerome Powell. In two tweets posted on Saturday evening, Treasury Secretary Steven Mnuchin said that he'd spoken to Trump about Powell on Saturday, and that Trump told him, "I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.” White House press secretary Sarah Sanders told the Examiner that she's, "aware of no plans,” to fire Powell in an email. Trump is unhappy with Powell and the Fed over continuing interest rate hikes to the...
  • There’s No Reason for Higher Interest Rates

    12/22/2018 5:52:48 AM PST · by Kaslin · 77 replies ^ | December 22, 2018 | Anthony Scaramucci
    The U.S. economy is in remarkably good health, and the Federal Reserve risks upsetting the apple cart with its unjustified interest rate hike.The Fed raised interest rates by .25 percent at its December 18-19 meeting, a move that President Trump rightly called “foolish” in light of his ongoing trade negotiations with China and other major U.S. trade partners.The President makes a good point. Since a stronger dollar makes U.S. exports less competitive and tends to increase net imports, higher interest rates threaten to undermine the value of the targeted counter-tariffs President Trump is using to get China to negotiate a fair...
  • Fed Raises Interest Rates Amid Fierce Pushback From Trump, Signals Fewer Hikes In 2019

    12/19/2018 11:35:31 AM PST · by Enlightened1 · 58 replies
    Business Insider ^ | 12/19/18 | Akin Oyedele
    The Federal Reserve on Wednesday raised its key interest rate for the fourth time this year, but signaled fewer rate hikes in 2019 than it had forecast. Americans with credit cards and other short-term loans will soon notice the increase, although banks typically take longer to raise interest rates for savers. The hike came amid criticism from President Donald Trump, signs of an economic slowdown, and stock-market volatility. The Federal Reserve on Wednesday raised its benchmark interest rate as had been widely anticipated and signaled fewer rate hikes in 2019 than it had forecast. The Fed's statement was expected to...
  • Time for a Fed Pause

    12/18/2018 5:56:33 AM PST · by Moonman62 · 7 replies
    WSJ ^ | 12/18/18 | The Editorial Board
    Inflation and other economic signals justify interest-rate caution. If you think your job is tough, consider Federal Reserve Chairman Jerome Powell. He’s signaled for months that the Fed will raise interest rates again this week, but economic and financial signals suggest he should pause. Meanwhile, Donald J. Trump is beating him up almost daily not to raise rates. What to do? The right answer is to ignore the politics, inside and outside the Fed, and follow the signals that suggest a prudent pause in raising rates...
  • It is incredible that with a very strong dollar and virtually no inflation... [Trump Tweet]

    12/17/2018 10:37:46 AM PST · by Moonman62 · 97 replies
    Twitter ^ | 12/17/18 | President Trump
    It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!
  • 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...
  • 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...
  • 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...
  • CNBC’s Jim Cramer: Maybe Fed Chair Powell Wants Trump To Lose

    10/30/2018 2:42:16 PM PDT · by Rusty0604 · 22 replies
    Breitbart ^ | 10/30/2018 | John Carney
    Popular CNBC personality Jim Cramer said Tuesday that Jerome Powell’s determination to keep raising interest rates may be a signal that the Fed chairman wants to undermine President Donald Trump’s agenda. “Maybe he wants Trump to lose,” Cramer said on the financial news networks’ “Squawk on the Street” program. Cramer has been saying for several weeks that the Fed should halt rate hikes after December. The Fed has hiked rates three times this year and is widely expected to hike rates again at its December meeting. The Fed’s projections show central bankers expect to keep raising rates in 2019.
  • 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...
  • Trump Flunks Fed Politics: Bashing Jay Powell makes it harder to keep interest rates low.

    10/25/2018 8:03:13 AM PDT · by reaganaut1 · 15 replies
    Wall Street Journal ^ | October 24, 2018
    ... [N]o Fed Chairman can afford to be seen by markets to be taking interest-rate dictation from the White House, and when they do it typically ends in tears. See Arthur Burns under Richard Nixon and G. William Miller under Jimmy Carter. Alan Greenspan and Ben Bernanke were also too cozy politically with administrations in power, but that influence was mostly behind the scenes. Poor Mr. Powell has the harrowing task of managing the transition from the largest experiment in monetary-policy history. Mr. Bernanke and later Janet Yellen enjoyed the ride down to near-zero short-term rates and unprecedented bond-buying to...
  • Trump Steps Up Attacks on Fed Chairman Jerome Powell

    10/24/2018 5:31:51 AM PDT · by reaganaut1 · 53 replies
    Wall Street Journal ^ | October 23, 2018 | Michael C. Bender, Rebecca Ballhaus, Peter Nicholas and Alex Leary
    WASHINGTON—President Trump escalated his attacks on Federal Reserve Chairman Jerome Powell, saying the head of the nation’s central bank threatened U.S. economic growth and appeared to enjoy raising interest rates. In an interview Tuesday with The Wall Street Journal, Mr. Trump acknowledged the independence the Fed has long enjoyed in setting economic policy, while also making clear he was intentionally sending a direct message to Mr. Powell that he wanted lower interest rates. “Every time we do something great, he raises the interest rates,” Mr. Trump said, adding that Mr. Powell “almost looks like he’s happy raising interest rates.” The...
  • Trump calls Federal Reserve his 'biggest threat' (must look into Obama/Rahm era activities)

    10/17/2018 6:11:28 AM PDT · by Liz · 20 replies
    AFP ^ | October 16, 2018 | staff
    Washington (AFP) - President Trump reignited his controversial criticism of the central bank Tuesday, calling the Federal Reserve his "biggest threat." Trump followed up previous strong attacks on the Fed by complaining that interest rates are rising too quickly. "My biggest threat is the Fed, because the Fed is raising rates too fast," he told Fox Business television. Trump acknowledged that the central bank is independent, "so I don't speak to them." He then leveled direct criticism at Fed Chairman Jerome Powell, who he said should be slower on interest rate rises."It's going too fast, because you look at the...
  • President Trump is Right, The Fed is Loco

    10/12/2018 5:06:38 PM PDT · by Ahithophel · 11 replies
    The American Dream ^ | October 11, 2018 | Michael Snyder
    Donald Trump just made one of the most brilliant moves of his entire presidency. By accusing the Federal Reserve of “going loco”, he is placing the blame for the coming stock market crash and horrifying economic downturn squarely where it belongs, and he is firing up millions of true conservatives among his base at the same time. For many, many years, a lot of us have been trying to educate the American people about the deeply insidious Federal Reserve system. As Ron Paul once so astutely observed, it is actually about as “federal” as Federal Express is. (More at link..)
  • 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...