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Keyword: monetarypolicy

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  • 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...
  • 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’s Kashkari Sees Need For New Policies To Boost Growth

    11/09/2016 1:41:34 PM PST · by tekrat · 6 replies
    Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday said he sees continued sluggish growth ahead for the U.S. economy, unless lawmakers and the president “get going” on policies to boost productivity and population. Kashkari, who was a senior Treasury official under George W. Bush during the financial crisis, avoided direct comment on the policies or person of newly elected U.S. President Donald Trump, a Republican who campaigned on the promise of cutting taxes and lifting economic growth, or the Republican-controlled Congress. “The Congress has said to the Fed we are going to leave you alone to set monetary policy...
  • New York Sun Endorses Ted Cruz

    04/16/2016 8:18:06 AM PDT · by Engraved-on-His-hands · 91 replies
    Brietbart ^ | April 16, 2016 | Susan Berry
    The New York Sun announced it is endorsing Sen. Ted Cruz (R-TX)97% in the Republican primary Tuesday. According to the Sun: It hasn’t been our normal practice to endorse in the primaries, but this year the vote, set for Tuesday, will take on outsized importance as we career toward a contested convention. The junior senator from Texas has emerged from a crowded field by dint of his fidelity to principles — limited, constitutional government, sound money, free markets, and a strong foreign policy — that couldn’t be at higher premium. They are the true New York Values. Regardless of the...
  • Martin Armstrong Warns "Hell Is About To Break Loose"

    09/20/2015 11:30:44 AM PDT · by Jack Hydrazine · 142 replies
    Zero Hedge ^ | 20SEP2015 | Tyler Durden
    Yellen has inherited a complete nightmare. Thursday’s decision to delay yet again the long-awaited liftoff from zero interest rates is illustrating that the world economy is totally screwed. There is a lot of speculation about why the Fed seems so reluctant to “normalize monetary policy”. There are of course the typical domestic issues that there is low inflation, weak wage gains in the face of strong job growth, a hike will increase the Federal deficit and then there is the argument that corporations that now have $12.5 trillion in debt. All that is nice, but with corporate debt, our clients...
  • Global Finance Grades The World’s Best and Worst Central Bankers 2015

    08/25/2015 7:48:21 PM PDT · by SeekAndFind · 2 replies
    Global Finance ^ | 08/24/2015
    NEW YORK, August 24, 2015 — Global Finance magazine has named the heads of the Central Banks of the Czech Republic, the European Union, India, Israel, Malaysia, Paraguay, Peru, the Philippines, and Taiwan as the World’s Best Central Bankers over the past year, in recognition of their achievement of a prestigious “A” grade on Global Finance’s Central Banker Report Cards. August 24, 2015 In addition, the Central Bankers of Colombia, Saudi Arabia and the United States earned “A-” grades. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 75 key...
  • Venezuela Isn’t Cooking The Books Under Mass Inflation. It’s Lighting Them On Fire.

    08/18/2015 11:19:05 AM PDT · by fredericbastiat1 · 7 replies ^ | 2015-08-18 | Ben Weingarten
    America’s government has gradually watered down its economic data over time, thereby painting a rosier picture of conditions on the ground than actually exists. Consulting economist John Williams has dedicated his life in fact to exposing its manipulation of economic data and backing into the real numbers. But you will know when America has really hit full on panic mode when the feds stop printing figures altogether, and the only way to measure price inflation is through tracking the daily price increase of say, cronuts, or some other confection. This is the position sadly but all-too-predictably in which Venezuela finds...
  • Donald Trump Should Apologize to China, and Turn His Wrath On the Fed

    08/17/2015 7:08:53 AM PDT · by SeekAndFind · 18 replies
    RCM ^ | 08/17/2015 | Louis Woodhill
    On Tuesday, August 11, China began devaluing its currency unit, the yuan against the U.S. dollar. Later that day, Republican presidential candidate Donald Trump denounced China, saying: "I think you have to do something to rein in China. They devalued their currency today. They're making it absolutely impossible for the United States to compete, and nobody does anything." For a candidate whose pitch is based upon being smarter than everyone else, Trump has taken a spectacularly stupid position with respect to China-not just economically, but politically. After all, it was less than three years ago that Mitt Romney threw away...
  • Mimicking North Korea, China Tries to Alter Its Own Reality

    08/13/2015 7:10:52 AM PDT · by SeekAndFind · 2 replies
    RCM ^ | 08/13/2015 | John Tamny
    According to last Saturday's Wall Street Journal, "North Korea is making time for itself - literally." Apparently the country's leadership has decided that clocks will be moved back 30 minutes to reflect "Pyongyang time." Let the laughter from the developed parts of the world begin as this most backwards of nations attempts to redefine time; the sun and planet earth be damned. But is our smirking countenance truly warranted? Please read on. As is well known now, China's monetary authorities announced a planned 1.9% reduction in the value of the yuan on Tuesday. Some see the latter as big news,...
  • The Global Problem: Monetary Policy Can't Fix an Economy's Structural Problems

    03/05/2015 9:02:55 AM PST · by SeekAndFind · 10 replies
    Of Two Minds ^ | 03/05/2015 | Charles Hugh-Smith
    When we look back from 2025, it will be painfully obvious that central bank policies exacerbated the systemic crises that brought down the global financialization machine. What with all the praise being heaped on central banks for "saving" the world from economic doomsday in 2008, it's only natural to ask which structural problems their unprecedented policies solved in the past 6 years. After all, "saving" the world from financial collapse was relatively quick work; so what problems beyond imminent implosion did the central banks policies solve in the past 6 years? Answer: none. zip, zero, nada. The truth is central bank policies...
  • Rand Paul: 'Alarming' that the Fed is trying to stop audit

    02/12/2015 8:31:25 AM PST · by TangoLimaSierra · 51 replies ^ | 2/11/2015 | Joseph Lawler
    Sen. Rand Paul isn't happy that the Federal Reserve is mobilizing against his legislation that would subject the central bank's monetary policy decisions to an audit. "It is alarming that the Federal Reserve, which was granted Monopoly money-making power, is now specifically trying to stop my legislation," the Kentucky Republican wrote in a column published by the conservative publication Breitbart Tuesday. "The Fed, with unlimited ability to print money, now prints that money to lobby against congressional oversight," Paul added. "It is a disgrace and every citizen in the land should rise up and say: We the people are in...
  • Passing the Buck?

    02/11/2015 5:32:07 PM PST · by Kaslin · 1 replies ^ | February 11, 2015 | Charles Payne
    Last Friday, the latest consumer credit results for December were released showing an overall increase of $14.7 billion against the consensus estimate of $15 billion. While non-revolving credit, which consist mostly of student and auto loan debt, came in at $8.98 billion, the pace of growth slowed considerably. Overall, the fourth quarter 5.4% increase was the slowest pace since Q4-2013.It’s backwards looking, but points to sentiment shifts for this year. The $5.8 billion increases in credit card debt were the largest since April, underscoring what we heard from credit card companies. The idea that consumers are spending again is critical...
  • Falling inflation a worry for Europe but also the world

    11/23/2014 6:55:14 PM PST · by Tolerance Sucks Rocks · 60 replies
    Reuters ^ | November 23, 2014 | Ross Finley
    (Reuters) - European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in the $13 trillion euro zone economy. A sickly Europe has held back global economic growth for years, and now it is contributing significantly to powerful forces already dragging down inflation across the globe. A spectacular drop in crude oil prices over the past month will be the center of discussion when ministers from the world's top oil exporters meets in Vienna on Friday.
  • From This Day Forward, Watch How The Stock Market Performs Without The Fed’s Monetary Heroin

    11/04/2014 11:27:41 AM PST · by SeekAndFind · 15 replies
    TEC ^ | 11/4/2014 | Michael Snyder
    Mark this day on your calendars. The Dow is at 16974, the S&P 500 is at 1982 and the NASDAQ is at 4549. From this day forward, we will be looking to see how the stock market performs without the monetary heroin that the Federal Reserve has been providing to it. Since November 2008, the Fed has created about 3.5 trillion dollars and pumped it into the financial system. An excellent chart illustrating this in graphic format can be found right here. Pretty much everyone agrees that this has been a tremendous boon for the financial markets. As you will...
  • Fed Can Print Money, But It Can't Print Jobs

    04/17/2014 6:32:50 AM PDT · by SeekAndFind · 23 replies
    IBD ^ | 04/17/2014 | Alan Reynolds
    We have all been watching a long mystery with no ending: What the Federal Reserve governors are trying to do, how they intend to do it and why they imagine their efforts will work. The key questions boil down to two: (1) What target should the Fed aim at, and (2) what policy instruments should it use to hit that target? The Fed's only explicit target — an unemployment rate of 6.5% — was shrewdly discarded as "outdated" as that target grew near. Actually, the idea of focusing on unemployment is outdated, since it presumes that high unemployment guarantees low...
  • Is There a Monetary Story Behind the College Bubble?

    02/07/2014 5:29:22 AM PST · by SeekAndFind · 15 replies
    RCM ^ | 02/07/2014 | By Jeffrey Snider
    It is hard to know exactly how to interpret the plight of the modern college student. The term "lost generation" isn't exactly original, having been used to describe grads during the three "jobless" recoveries of the interest rate targeting age, but the current predicament is much more dire and unrelenting. At least the graduate population after the dot-com recession had a housing bubble to look forward to, as the current iteration of asset inflation holds little such "hope." The labor force participation rate for those people 25 years and older with a Bachelor's degree peaked around 1995 at 81%. After...
  • Yellen’s Path From Liberal Theorist to Fed Voice for Jobs

    10/09/2013 7:30:44 PM PDT · by Tailgunner Joe · 19 replies ^ | October 9, 2013 | BINYAMIN APPELBAUM
    Ms. Yellen decided to pursue a doctorate at Yale University after hearing a speech by James Tobin, the economist whom she still regards as her intellectual hero. Mr. Tobin was a staunch defender of the view that government policy could lift an economy from recession. .... “While admirers of capitalism, we also to a certain extent believe it has limitations that require government intervention in markets to make them work,” Ms. Yellen said in a 2012 interview with Berkeley’s business school magazine. .... In a related debate in 1995, Ms. Yellen argued that reducing high unemployment should sometimes be the...
  • Obama’s Revolting Bankers

    06/27/2013 8:55:37 AM PDT · by Kaslin · 11 replies ^ | June 27, 2013 | John Ransom
    On June 17, Barack Obama had one of his most awesome reality TV events of the year when he fired central bank chairman Ben Bernanke on PBS with liberal mope and host Charlie Rose moderating. “He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward,” said former Fed Governor Laurence Meyer, in an interview on CNBC the next day. And the bankers have been in revolt ever since.  The government, meanwhile, has revised the economy’s performance downward. The newest do-over by government economists comes three months after they gave the economy one of the...
  • More Fed Follies.... Paper

    02/22/2013 1:11:36 PM PST · by SatinDoll · 1 replies
    The Market-ticker ^ | Feb.22,2013 | Karl Denninger
    This one's rich: “The combination of a massively expanded central bank balance sheet and an unsustainable public debt trajectory is a mix that has the potential to substantially reduce the flexibility of monetary policy,” the economists write. “This mix could induce a bias toward slower exit or easier policy, and be seen as the first step toward fiscal dominance. It could thereby be the cause of longer-term inflation expectations and raise the risk of inflation overall.” There is no flexibility and it is the direct and proximate consequence of Congress and The Adminstration ignoring the fundamental realities of arithmetic --...
  • Profs Channeling Ron Paul?

    02/04/2013 1:09:15 PM PST · by Academiadotorg · 1 replies
    Accuracy in Academia ^ | February 4, 2013 | Malcolm A. Kline
    A trio of academic economists have taken a hard look at the Federal Reserve System and found it wanting, to put it mildly. In a working paper for the libertarian Cato Institute, George Selgin, William D. Lastrapes and Lawrence H White write that, “Drawing on a wide range of recent empirical research, we find the following: “(1) The Fed‘s full history (1914 to present) has been characterized by more rather than fewer symptoms of monetary and macroeconomic instability than the decades leading to the Fed‘s establishment. “(2) While the Fed‘s performance has undoubtedly improved since World War II, even its...