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Posted: 2/14/2017 11:14:16 AM EDT
Janet Yellen is supposed to testify and give an idea of what the Federal Reserve is supposed to do.

https://www.c-span.org/video/?423676-1/federal-reserve-chair-janet-yellen-testifies-economic-outlook&live



A Dem Senator, Sherrod Brown, is whining like a bitch right now about how everyone has suffered the last 8 years and it is all Trumps fault because he is going to screw over the little guy even more.  No blame on Obama at all, he said incomes in his area declined the last 5 years and it all because of the Republican party.  He is kissing Yellen's ass as well.
Link Posted: 2/14/2017 11:17:19 AM EDT
[#1]
Some points fro Yellens speech.

In the last year labor under utilization has declined.  Wages have increased.  Job market tightening.  Yet minorities are doing terrible.
Link Posted: 2/14/2017 11:18:15 AM EDT
[#2]
Business investing has been really low except for the last few months.  
Link Posted: 2/14/2017 11:19:55 AM EDT
[#3]
Expects the economy to continue growing with mild inflation.
Link Posted: 2/14/2017 11:25:26 AM EDT
[#4]
Still expecting to raise rates.  Concerned that waiting too long would be bad.  Continued gradual increases in the Federal Funds Rate.  Goal of 2% inflation and continued economic growth.

Just hedged all her statements on what policies that Trump puts in place.  
Link Posted: 2/14/2017 11:26:45 AM EDT
[#5]
Tried to paste a Business Insider response on Twitter feature not work?
Link Posted: 2/14/2017 11:33:08 AM EDT
[#6]
I'm not seeing anything.
Link Posted: 2/14/2017 11:37:00 AM EDT
[#7]
Yellen seems very reserved and nervous.  From the questions and statements of the committee chair it sounds like Trump could make her life miserable if so desired.  Apparently there was a change under Obama that created the position of Vice-Chair to the Fed who can be appointed by the President.  Obama was too busy playing golf to appoint anyone, so a current insider has been filling the position but Trump could hand pick a person to fill it.  The vice-chair would head the leadership teams, speak to other countries, and also give Congressional testimony just like Janet Yellen.  Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  
Link Posted: 2/14/2017 11:38:31 AM EDT
[#8]
Sen Brown is speaking again.  He just directly asked the Fed about each of his claims that he ranted and whined about in his opening statement.  Janet Yellen just confirmed that everything he was ranting about is actually false.
Link Posted: 2/14/2017 11:41:31 AM EDT
[#9]
Sen Brown hates that they have to remove 2 regulations for every new regulation that they add.  He said that policy makes as much sense as taking down 2 feet of guardrail for every foot that put up.  

Yellen just said reviewing policies and regulations is a good thing.  
Link Posted: 2/14/2017 11:46:05 AM EDT
[#10]
Sen Brown "What is the Fed doing to address income disparities in minorities".  WTF, does the Fed have to do with targeting income of a certain class of people?  The Fed is supposed to handle monetary policy for the entire country to make it the best for everyone.

Janet Yellen is appointed until next February and said she intends to finish out her term.  With her responses today I have no problem with her continuing.  She seems very knowledgeable on all the issues and is now very respectful of the Republicans.  
Link Posted: 2/14/2017 11:48:52 AM EDT
[#11]
Jobs are up, but, they're being taken by people over 55, they're part time, and they pay minimum wage. At the same time, I'm screwing everybody over by having 0% interest rates going on 10 years. And, I'm devaluing the currency by at least 2% a year too!

That's what she should say.
Link Posted: 2/14/2017 11:54:35 AM EDT
[#12]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  
View Quote


Am I reading this right?
Link Posted: 2/14/2017 11:55:13 AM EDT
[#13]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Jobs are up, but, they're being taken by people over 55, they're part time, and they pay minimum wage. At the same time, I'm screwing everybody over by having 0% interest rates going on 10 years. And, I'm devaluing the currency by at least 2% a year too!

That's what she should say.
View Quote

Apparently it is Congress who mandated the 2% inflation and a certain level of economic growth.
Link Posted: 2/14/2017 11:56:16 AM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Am I reading this right?
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  


Am I reading this right?

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.
Link Posted: 2/14/2017 11:57:55 AM EDT
[#15]
Time for her to go.  I've never had confidence in her.  She's made assessments that weren't substantiated.
Link Posted: 2/14/2017 11:59:10 AM EDT
[#16]
Wish people would start voting against that dumb shit Sherrod Brown.  Every time I send out stuff to me senators that is gun related I get generic messages back from his office that guns are bad and need to be controlled.
Link Posted: 2/14/2017 12:02:54 PM EDT
[#17]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Time for her to go.  I've never had confidence in her.  She's made assessments that weren't substantiated.
View Quote

She is singing a different tune now.  Obama basically gave her free reign to promote his liberal agenda.  Now she is very much buy the book and only using the technical indicators instead of politics.  For example US debt is now an issue and is unsustainable.  

She is very nervous when answering questions.  It seems like she is trying very hard to keep her job for the next year.  That is the best kind of employee, one that recognizes a management change and is working hard to keep their job out personal pride.  
Link Posted: 2/14/2017 12:07:03 PM EDT
[#18]
Democrat Sen Bob Menendez is now whining about how 30 million people losing their healthcare is going to screw the country.  Obamacare only covered 10 million uninsured.  Another lying Democrat.  He is bashing a bunch of Trumps policies saying they are going to destroy the country and hurt everyone.
Link Posted: 2/14/2017 12:09:13 PM EDT
[#19]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  


Am I reading this right?

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.

Please stop saying audit.  That will never happen.  The people who own the Fed will not allow anybody to audit their books.  They never do.
Link Posted: 2/14/2017 12:11:01 PM EDT
[#20]
Democrat Sen Bob Menendez wants to hire Presidents of the regional banks based on skin color because there are no black or Latino presidents.
Link Posted: 2/14/2017 12:17:23 PM EDT
[#21]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Please stop saying audit.  That will never happen.  The people who own the Fed will not allow anybody to audit their books.  They never do.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  


Am I reading this right?

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.

Please stop saying audit.  That will never happen.  The people who own the Fed will not allow anybody to audit their books.  They never do.

You weren't paying attention then.  Congress created a vice-chair of the Federal Reserve position and the President gets to hand pick who fills it.  That person would have access to open all the books.  Also the EC directs the Treasury Department to "regulate the United States financial system".  So they no longer have a choice.  Now whether that happens is another story but key positions have now be created to do that.
Link Posted: 2/14/2017 12:18:02 PM EDT
[#22]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Jobs are up, but, they're being taken by people over 55, they're part time, and they pay minimum wage. At the same time, I'm screwing everybody over by having 0% interest rates going on 10 years. And, I'm devaluing the currency by at least 2% a year too!

That's what she should say.
View Quote
Meh there are all sorts of jobs out there with decent - good pay if one is willing to work and has or is willing to obtain useful skills. J

ust look on indeed.com and don't focus on one location is some small town. 
Link Posted: 2/14/2017 12:21:02 PM EDT
[#23]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  


Am I reading this right?

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.


Oh, so not the kind of audit that is going to reveal the owners of the FED then.
Link Posted: 2/14/2017 12:22:21 PM EDT
[#24]
Interesting note: the number of farmers in the US will drop below 2 million for the first time since the Louisiana purchase.  The remaining farmers should expect a 10% decrease in revenue for the next year. 
Link Posted: 2/14/2017 12:23:49 PM EDT
[#25]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Oh, so not the kind of audit that is going to reveal the owners of the FED then.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  


Am I reading this right?

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.


Oh, so not the kind of audit that is going to reveal the owners of the FED then.

From what was said, Trump could appoint a vice-chair and that person most certainly could do that.  I wouldn't hold my breath on that information ever coming out.
Link Posted: 2/14/2017 12:25:37 PM EDT
[#26]
Yellen is saying it isn't the Feds responsibility to create programs to help farmers through bad years by having funding that is on a 24 or 36 month cycle, instead of a 12 month cycle.  Yet Sen Brown wants the Fed to target and help specific groups of people.
Link Posted: 2/14/2017 12:30:30 PM EDT
[#27]
The Fake News headlines have started.  "Trumps policies cause uncertainty with Fed, market drops".  They are twisting what was said to make it sound like Trump put in place bad policies.  What the fed said was uncertain was what Trump's policies would be because he hasn't put them in place yet.
Link Posted: 2/14/2017 12:36:42 PM EDT
[#28]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

You weren't paying attention then.  Congress created a vice-chair of the Federal Reserve position and the President gets to hand pick who fills it.  That person would have access to open all the books.  Also the EC directs the Treasury Department to "regulate the United States financial system".  So they no longer have a choice.  Now whether that happens is another story but key positions have now be created to do that.
View Quote View All Quotes
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
Quoted:
Quoted:
... Also Trump signed an executive order that authorizes the Treasury Secretary to work with and audit the Fed.  


Am I reading this right?

Audit might be a bit too strong but yes the Treasury is supposed to be reviewing the Fed now.

Please stop saying audit.  That will never happen.  The people who own the Fed will not allow anybody to audit their books.  They never do.

You weren't paying attention then.  Congress created a vice-chair of the Federal Reserve position and the President gets to hand pick who fills it.  That person would have access to open all the books.  Also the EC directs the Treasury Department to "regulate the United States financial system".  So they no longer have a choice.  Now whether that happens is another story but key positions have now be created to do that.

The Executive Order does nothing to see inside the inner workings of the Fed.

The Vice Chair for Supervision is supervising large investment banks, like the publicly owned one where I work.

Nobody gets to audit the Fed's books itself.  Nobody gets to see who owns it.  Nobody gets to see how much $$$ they are floating around the world.  Nobody gets to know anything.
Link Posted: 2/14/2017 1:29:36 PM EDT
[#29]
These testimonies are silly puppet shows.  The owners of the Fed and other central banks hire Ph.Ds to manage an unsound system and do an impossible job.  Congressmen and Senators are largely as financially illiterate as anyone else in the country.  Both yell at each other about peripheral nonsense not related to (or at best symptoms of) the sinister system of creation of money and credit.

The money and credit that is created, controlled, and manipulated by a secretive, non-transparent, private entity.
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