Posts Tagged ‘ Federal Reserve ’

Keeping the bubble-boom going

August 25, 2015
posted by

The Cobden Centre
by Thorsten Polleit  

"The US Federal Reserve is playing with the idea of raising interest rates, possibly as early as September this year. After a six-year period of virtually zero interest rates, a ramping up of borrowing costs will certainly have tremendous consequences. It will be like taking away the punch bowl on which all the party fun rests." (08/25/15)

http://www.cobdencentre.org/2015/08/keeping-the-bubble-boom-going/  

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Debt collapse: The decline and fall of the United States of America

August 25, 2015
posted by

OpEdNews
by William Edstrom  

"There's going to be a collapse in the United States of America. Again. This collapse around, there's nothing the United States (US) government can do to 'rescue' the US economy because the Federal Reserve Bank's interest rate is 0%. They cannot lower interest rates. The only thing the US government can do is print more money. Printing too much money causes hyper-inflation which in turn causes things worse than hyper-inflation." (08/25/15)

http://tinyurl.com/pzrm8sh  

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Trumping the federal debt without playing the default card

August 19, 2015
posted by

CounterPunch CounterPunch
by Ellen Brown  

"The vast majority of the money supply today is created by banks when they make loans, as the Bank of England recently acknowledged. Banks create money by 'monetizing' debt, turning loans into the digital deposits that make up most of the circulating money supply. The government could push the reset button by monetizing its own debt, turning it into what it should have been all along -- debt-free, interest-free dollars." (08/19/15)

http://tinyurl.com/py6gz96  

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Markets, not Janet Yellen, should set interest rates

August 19, 2015
posted by

Richard M. Ebeling National Center for Policy Analysis
by Richard M Ebeling  

"The Federal Reserve (Fed) influences interest rates by purchasing U.S. government securities in the secondary market with newly created money. This capital flows into the system when the original holders of these securities deposit the payments into their bank accounts, says Dr. Richard Ebeling, distinguished professor of ethics and free enterprise leadership at The Citadel in Charleston, South Carolina." (08/19/15)

http://www.ncpa.org/sub/dpd/index.php?Article_ID=25971  

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Four steps to help bring down the Federal Reserve

August 17, 2015
posted by

TJ Martinell Tenth Amendment Center
by TJ Martinell  

"Since its the founding of the U.S. central bank known as the Federal Reserve, the dollar has lost an incredible amount of value in terms of purchasing power. An item worth $1 in 1913 costs $24.1 today. This is a direct result of the Fed because its actions debase the currency. That simply means the average American has less purchasing power. For example, following the 2008 economic collapse, the Fed has engaged in a multiple rounds of 'quantitative easing.' In plain speak, they are simply printing more money. Central bank monetary policy perpetuates booms and busts, and we can directly trace recent economic crises to government monetary policy facilitated by the Federal Reserve. The good news is that we can take steps, both at an individual and state level, to undermine and potentially nullify the Federal Reserve, no matter what political party controls the White House and Congress." (08/17/15)

http://tinyurl.com/o9xu6sg  

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Yellen sees first Fed rate hike later this year

July 16, 2015
posted by

Los Angeles Times Los Angeles Times    

"Unfazed by recent global turmoil, Federal Reserve Chair Janet L. Yellen is offering a fairly optimistic outlook for the U.S. economy and reaffirming that the central bank is likely to begin raising interest rates later this year. ... As long as the economy continues to progress along those expectations, Yellen said, the Fed is likely this year to raise its benchmark interest rate for the first time since 2006. She mentioned the problems in Greece and the uncertainties in China, but noted that global economic growth could pick up more quickly than many are expecting. The Fed's so-called federal funds rate, which influences business and consumer borrowing costs, has been pinned near zero since the depths of the Great Recession in late 2008." (07/15/15)

http://tinyurl.com/ntlzgsq  

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IMF encourages Fed to delay rate increase

June 4, 2015
posted by

Salt Lake Tribune    

"The International Monetary Fund on Thursday urged the Federal Reserve to put off raising short-term interest rates until next year because the U.S. economy still needs help. In its yearly check-up of the United States, the IMF predicted the American economy would grow just 2.5 percent this year, down from its April forecast of 3.1 percent. The downgrade reflects the economy's stumbling start to the year: Gross domestic product fell the first three months of 2015, tripped up by harsh winter weather and the export-killing strength of the dollar. The IMF has no direct influence over U.S. economic policy. But the global lending agency is widely respected for its technical expertise on economics and finance." (06/04/15)

http://tinyurl.com/obckeb2  

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Janet Yellen is right: She can’t predict the future

May 27, 2015
posted by

Ron Paul The Daily Bell
by Ron Paul  

"This week I found myself in rare agreement with Janet Yellen when she admitted that her economic predictions are likely to be wrong. Sadly, Yellen did not follow up her admission by handing in her resignation and joining efforts to end the Fed. An honest examination of the Federal Reserve's record over the past seven years clearly shows that the American people would be better off without it." (05/25/15)

http://bit.ly/1Rkj0mE  

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US monetary policy: A ship with a broken rudder

May 27, 2015
posted by

Cato Institute Cato Institute
by George Selgin  

"In light of some bad economic news, the Federal Open Market Committee's decision to continue its accommodative policy stance may come as relief to some. But it's no cause for celebration. Indeed, it only underscores the fact that our monetary system is still not functioning properly. If it were, the Federal Reserve's $4.5 trillion balance sheet would long ago have translated into healthy, if not inflationary, levels of spending." (05/26/15)

http://bit.ly/1FB8qCh  

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St. Louis Fed hit with hack

May 20, 2015
posted by

CNN Money    

"Visitors to parts of the St. Louis Federal Reserve's website last month were sent to phony sites that could be used to steal their personal information. The hack targeted the St. Louis Fed's Web servers -- not the Fed branch itself or its website. This kind of 'domain name server hack' sends a person to a different site, often laced with malware or phishing software." (05/19/15)

http://money.cnn.com/2015/05/19/technology/st-louis-fed-hack/  

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In 1987, the Fed prevented another Great Depression by doing nothing

May 4, 2015
posted by

Scott Sumner EconLog
by Scott Sumner  

"American liberals argue that institutions like the Fed rescue the economy from a deeply unstable capitalist system. Libertarians are skeptical of the activism and worry that it just stores up more trouble for the future. But what if they are both wrong? What if the Fed rescues the economy by doing nothing?" (05/04/15)

http://econlog.econlib.org/archives/2015/05/in_1987_the_fed.html  

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Will the Fed let innovation work its magic?

April 21, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Edin Mujagic  

"Sometimes one finds true gems in one's archives. Recently I came across a speech by then-chairman of the Fed, Ben Bernanke, from May 18, 2013. It was the commencement speech at Bard College at Simon's Rock, in Great Barrington, Massachusetts. In it, Bernanke chose to forget for a while the dire straits the Western economy is in and focused on prospects for economic growth in the long run, which he defined as 'measured in decades, not months or quarters.' In short, Bernanke focused on scientific and technological progress, more commonly described as innovation." (04/20/15)

https://mises.org/library/will-fed-let-innovation-work-its-magic  

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Did the Fed cause the sub-prime boom?

April 19, 2015
posted by

Scott Sumner EconLog
by Scott Sumner  

"Monetary policy is not a surgical tool that can be used to affect specific sectors of the economy. It can only affect any given sector by affecting the overall economy (NGDP.) Thus in 1928 and 1929 when the Fed tried to use higher interest rates to slow the stock market boom, and the policy was a complete failure until rates were raised so high that NGDP began plunging. Then stocks crashed. It wasn't the high interest rates, it was the falling NGDP. If Fed policy contributed to the subprime boom, it was not from low interest rates, but rather excessive NGDP growth." (04/18/15)

http://econlog.econlib.org/archives/2015/04/did_the_fed_cau.html  

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Is the Fed allowed to create GDP prediction markets?

April 15, 2015
posted by

Scott Sumner EconLog
by Scott Sumner  

"Some Keynesian theories deny that monetary policy can impact expected NGDP growth, when at the zero bound. Real Business Cycle theory suggests that a monetary policy shock that impacted NGDP growth expectations would not impact RGDP growth expectations. Market monetarism suggests that monetary shocks can impact both NGDP and RGDP growth expectations at the zero bound. I believe that it is clearly within the Fed's mandate to spend a modest sum of money setting up NGDP and RGDP prediction markets. But it doesn't matter what I think it matters what Congress thinks, and what the Fed thinks that Congress thinks." (04/15/15)

http://econlog.econlib.org/archives/2015/04/can_the_fed_cre.html  

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Ben Bernanke’s latest defense of the Fed’s failures

April 13, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Brendan Brown  

"Fed officials have been busy lately spreading the view that incessantly low interest rates are symptomatic of a still-dim economic reality rather than a result of their own monetary experimentation. Indeed they are full of self-praise for not having been hasty to raise rates given the overwhelming evidence that the natural or neutral level is indeed very low. They even weep for the plight of the small saver. But the tears are crocodile tears so long as the designers and implementers of the wildest monetary experiment in contemporary US history continue to deny in this way their lead role in creating the interest income famine." (04/13/15)

http://tinyurl.com/p9exeqm  

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Our current illusion of prosperity

April 1, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute    

"President Obama and Fed Chair Janet Yellen have been crowing about improving economic conditions in the US. Unemployment is down to 5.5 percent and growth in 2014 hit 2.2 percent. Journalists and economists point to this improvement as proof that quantitative easing was effective. Unfortunately, this latest boom is artificial and has been built by adding debt on top of debt." (04/01/15)

http://mises.org/library/our-current-illusion-prosperity  

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Why is the Fed punishing my parents?

March 30, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Shawn Ritenour  

"In September 1993, President Bill Clinton reassured his radio audience that 'if you work hard and play by the rules, you'll be rewarded with a good life for yourself and a better chance for your children.' Picking up that theme over eighteen years later, President Barack Obama affirmed that 'Americans who work hard and play by the rules every day deserve a government and a financial system that does the same.' The trouble is neither the government nor the financial system backed by the Federal Reserve rewards people like my parents, who have worked hard and played by the rules their entire lives, only to have their savings wither away." (03/30/15)

http://mises.org/library/why-fed-punishing-my-parents  

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The Federal Reserve Bank must be destroyed!

March 19, 2015
posted by

Mises Canada
by Patrick Barron  

"Once the politicians realized that the Fed could print money at will, the genie was out of the bottle. Money growth did expanded at a modest rate for a few decades, due mainly to the efforts of prudent men such as Fed Chairman William McChesney Martin (1951 to 1970) and fiscally conservative politicians such as President Dwight Eisenhower (1953 to 1961). However, it was inevitable that less prudent men, such as President Lyndon Johnson and all Fed chairm[e]n with the exception of Paul Volcker, would rise to power on their promises to fund all manner of government programs with what was now seen to be unlimited money." (03/19/15)

http://mises.ca/posts/blog/the-federal-reserve-bank-must-be-destroyed/  

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Fed sets stage for rate hike but downgrades outlook

March 18, 2015
posted by

USA Today USA Today    

"The Federal Reserve on Wednesday set the stage for its first interest rate hike since 2006, signaling its confidence in the U.S. economy. Yet the Fed slightly downgraded its economic outlook, saying that growth 'has moderated somewhat' because of weak export growth and a sluggish housing market, among other factors. It said it will raise its benchmark short-term rate, now near zero, only when the labor market improves further and inflation prospects pick up from the current meager pace." (03/18/15)

http://tinyurl.com/o7j4qjj  

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Yes we can … audit the Fed!

March 16, 2015
posted by

Campaign For Liberty Campaign For Liberty
by Matthew Hawes  

"During C4L's 'Liberty Forum' at the 2009 Conservative Political Action Conference, we announced our young organization's top legislative priority -- achieving an audit of the Federal Reserve. Dr. Ron Paul had then recently reintroduced the bill as H.R. 1207, with 11 cosponsors. No one knew for sure what to expect, but we heard plenty of opinions on what would happen -- including doubts or outright disbelief that the bill would ever move. But Campaign for Liberty's second-to-none grassroots members refused to give in to the naysayers and went to work, pouring pressure on their elected officials and spreading the word about why our historic bill was desperately needed." (03/15/15)

http://www.campaignforliberty.org/yes-we-can-audit-the-fed  

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Don’t be fooled by the Federal Reserve’s anti-audit propaganda

March 9, 2015
posted by

Ron Paul Campaign For Liberty
by Ron Paul  

"In recent weeks, the Federal Reserve and its apologists in Congress and the media have launched numerous attacks on the Audit the Fed legislation. These attacks amount to nothing more than distortions about the effects and intent of the audit bill. Fed apologists continue to claim that the Audit the Fed bill will somehow limit the Federal Reserve’s independence. Yet neither Federal Reserve Chair Janet Yellen nor any other opponent of the audit bill has ever been able to identify any provision of the bill giving Congress power to dictate monetary policy. The only way this argument makes sense is if the simple act of increasing transparency somehow infringes on the Fed’s independence." (03/08/15)

http://tinyurl.com/nsekn64  

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US banks clear first phase of Fed stress testing

March 6, 2015
posted by

USA Today USA Today    

"The nation's 31 largest banks stand to shed close to half a trillion dollars if the economy slumped into a deep depression, the Federal Reserve Board said on Thursday. But the banks -- a group that includes Citigroup, JP Morgan Chase, Wells Fargo and Goldman Sachs -- appear better positioned than ever to handle such loss, Fed data show. Indeed, for the first time since the Fed has been conducting its so-called stress tests on banks with more than $50 billion in assets, not a single bank fell below the Fed's capital requirements, according to the first phase of the Fed's stress test results released Thursday." (03/05/15)

http://tinyurl.com/llbz59y  

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What to do while waiting to end the Fed

February 26, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by John P Cochrane  

"Central banks in general, and the Fed in particular, are here to stay for the foreseeable future. Given Austrians most fully understand the evils perpetuated on the economy by specially privileged fractional reserve banks supported by a central bank, Austrians most definitely should contribute to second-best solutions a la Rosen and Ravier. But one must also keep in mind good central bank policy is just bad policy that could have been worse. The best long-term outcome is open competition in currencies that have the potential to reduce central bank influence and improve central bank performance." (02/25/15)

http://mises.org/library/what-do-while-waiting-end-fed  

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What economic elites don’t want you to know about crashes

February 12, 2015
posted by

Mises Canada
by Doug French  

"From his analysis, Bernanke thinks the central bank tightened the money supply in the '30s to cause the Great Depression. That lesson prompted him after the 2008 crash to unleash a barrage of rounds of quantitative easing and an Operation Twist while quadrupling the central bank's balance sheet to 'stabilize the financial system.' Jim Grant sees it differently, thinking Bernanke and company should have kept their hands off the money supply and interest rates. Grant, the financial world's foremost wordsmith, provides the depression of 1920–21 as his evidence. His book The Forgotten Depression: 1921: The Crash That Cured Itself chronicles how the market works marvels if left alone." (02/12/14)

http://tinyurl.com/oq5vx6q  

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Fed acts wreck the economy

February 11, 2015
posted by

The Price of Liberty
by Bradley Harrington  

"The justification for the Federal Reserve Act was banking failures -- nearly a thousand in the panic years of 1893 and 1907-1908 -- yet in the 20-year period after the establishment of the Fed, well over 10,000 banks collapsed. The 'cure,' clearly, was worse than the alleged disease. So, through the Fed, government essentially took over the banking system, while the destruction of the gold-based dollar hammered the final nails into the coffin of a once-free economy and paved the way for the Great Inflation in the decades to follow." (02/11/15)

http://www.thepriceofliberty.org/?p=6935  

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