Posts Tagged ‘ Federal Reserve ’

US Senate confirms two Fed governors, makes Fischer vice chairman

June 13, 2014
posted by

Business Week    

"The U.S. Senate confirmed two nominees to the Federal Reserve board and made Stanley Fischer Fed vice chairman less than a week before policy makers gather to consider further tapering record accommodation. Lael Brainard, former U.S. Treasury undersecretary for international affairs, won approval yesterday as a Fed governor, while Jerome Powell gained a second term. With the confirmations, five of the seven seats on the Fed board are filled for the first time since Ben S. Bernanke stepped down at the end of his second term as chairman in January." (06/13/14)

http://tinyurl.com/p2uv54h  

No Comments »

The Fed won’t let the economy heal

June 8, 2014
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Frank Shostak  

"According to popular thinking, the Fed’s actions have bought time to allow the US economy to heal -- much like keeping a coma patient on life support. Consequently, popular thinkers are harshly criticizing commentators that advocate allowing economic recession to take its course. Contrary to popular thinking, economic recessions or economic busts are not about the end of the world but about the removal of various non-productive activities, also labeled as bubble activities brought about by previous loose monetary policies of the central bank." (06/06/14)

http://mises.org/daily/6773/The-Fed-Wont-Let-the-Economy-Heal  

No Comments »

There is no tradeoff between inflation and unemployment

June 5, 2014
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Chris Casey  

"The Federal Reserve believes increasing the money supply spurs economic growth, and that such growth, if too strong, will in turn cause price inflation. But if the monetary expansion slows, economic growth may stall and unemployment will rise. So the dilemma can only be solved with a constant iterative process: monetary growth is continuously adjusted until a delicate balance exists between price inflation and unemployment. This faulty reasoning finds its empirical justification in the Phillips curve. Like many Keynesian artifacts, its legacy governs policy long after it has been rendered defunct." (06/05/14)

http://tinyurl.com/mby6r3c  

No Comments »

Speaking truth to monetary power

May 26, 2014
posted by

Lew Rockwell Ludwig von Mises Institute
by Llewellyn H. Rockwell, Jr.  

"Until Ron Paul raised the issue at the national level in 2007, the Federal Reserve System had been treated with the kind of lazy indifference or acquiescence with which the public gradually comes to accept any institution of long standing. To be sure, most of the public still treats it that way. They have not lost sufficient confidence in the so-called experts, despite the debacle of 2008, to give the Fed a second (or even a first) look. But a skeptical minority is growing sizable enough to influence the debate." (05/23/14)

http://mises.org/daily/6760/Speaking-Truth-to-Monetary-Power  

No Comments »

Yellen: Print more

May 8, 2014
posted by

Campaign For Liberty Campaign for Liberty
by Megan Stiles  

"Speaking today in front of the Joint Economic Committee of Congress, Janet Yellen called for continued action from the Fed to prop up the struggling US economy. ... Campaign for Liberty continues to push for a full audit of the Federal Reserve." (05/07/14)

http://tinyurl.com/m4hcvxc  

No Comments »

Yellen: Fed can’t regulate Bitcoin

February 28, 2014
posted by

USA Today    

"Federal Reserve Chair Janet Yellen told senators Thursday that the central bank can't regulate troubled digital currency Bitcoin because it operates outside the banking system. 'I think it's important to understand that this is a payment innovation that's taking place entirely outside the banking industry,' Yellen told Sen. Joe Manchin, D-WV. 'The Federal Reserve simply does not have the authority to supervise or regulate Bitcoin in any way.'" [editor's note: Manchin is the drooling moron who's calling for Bitcoin to be "banned." As for Yellen, it's refreshing to see a central banker acknowledge limits to authority! - TLK] (02/27/14)

http://tinyurl.com/mpr66wm  

Comments Off on Yellen: Fed can’t regulate Bitcoin

Fed minutes point to continued paring of stimulus

February 19, 2014
posted by

ABC News    

"Federal Reserve officials agreed at their January meeting that further gradual reductions in their stimulus would be appropriate as long as the economy keeps improving. Officials weighed the need to stress to investors that the Fed's key short-term interest rate would remain near zero, according to the minutes of the Jan. 28-29 meeting released Wednesday. But Fed officials couldn't agree on how to modify their commitment to keep the rate near zero 'well past' the time the unemployment rate falls below 6.5 percent. The rate is now 6.6 percent." (02/19/14)

http://tinyurl.com/nlmduyu  

No Comments »

It’s time to grill the Federal Reserve about Bitcoin

February 11, 2014
posted by

Reason Reason
by Ira Stoll  

"The cashless economy, once a techno-utopian dream, is now approaching reality. Even Hillary Clinton’s spokesman Philippe Reines was recently quoted about how he hadn’t withdrawn any cash from the bank since June 2012. There are a whole variety of ways that Yell[e]n may want to break with Bernanke’s legacy at the Fed. But one point where continuity might inspire confidence would be if she were to convey that she shares his view that digital currency is a potentially promising development rather than a dangerous threat to the dollar’s monopoly." (02/10/14)

http://tinyurl.com/qz3zb8o  

No Comments »

Yellen sworn in as Fed chair, succeeding Bernanke

February 4, 2014
posted by

USA Today    

"Janet Yellen officially took over the leadership of the Federal Reserve on Monday -- and along with it a delicate task: Unwinding the Fed's extraordinary economic stimulus without spooking investors or slowing a still-subpar economy. Yellen, the first woman to lead the Fed in its 100 years, was sworn in during a brief ceremony in the central bank's board room." (02/03/14)

http://tinyurl.com/kj4mau3  

No Comments »

US Senate confirms Yellen as new Fed head

January 7, 2014
posted by

Washington Post    

"The Senate confirmed Janet Yellen on Monday as the next leader of the Federal Reserve, placing her in charge of ensuring that the nation’s economy makes a full recovery. Her nomination passed the chamber on its first day back in session after winter recess, despite opposition from some Republicans who have advocated for greater oversight of the central bank. Yellen is currently the second-in-command at the Fed and will be the first woman in the top job. She is slated to take office Feb. 1." (01/06/14)

http://tinyurl.com/osddusc  

No Comments »

Want to help the working poor? End the Fed

January 2, 2014
posted by

Ron Paul Campaign For Liberty
by Ron Paul  

"Many so-called champions of economic equality and fairness for the working class are preparing to confirm Janet Yellen as next Chairman of the Federal Reserve. Yet Yellen is committed to continuing and even expanding, the upward redistributionist polices of her predecessors. Washington could use more sound economic thinking and less demagoguery." (01/02/14)

http://tinyurl.com/ny9uuym  

No Comments »

One hundred years of the Federal Reserve

December 26, 2013
posted by

Sheldon Richman Future of Freedom Foundation
by Sheldon Richman  

"Two days before Christmas 1913, President Woodrow Wilson signed the Federal Reserve Act, creating America’s latest and current central bank, the Federal Reserve System. It’s a sobering thought that in the 100 years since the Fed’s creation, the dollar has lost 95 percent of its value. Had the Fed never been created, America would be dotted with Nickel Stores (other things being equal) instead of Dollar Stores. But that is just the beginning of the sad tale." (12/24/13)

http://tinyurl.com/n6uzjaa  

No Comments »

Obama to announce nomination of Yellen as next Fed chair

October 9, 2013
posted by

Fox News    

"President Barack Obama will announce his intent to nominate Federal Reserve Vice Chairwoman Janet Yellen to become the U.S. central bank's new head on Wednesday, a White House official said late Tuesday. The president is expected to hold an event at 3:00 p.m. ET on Wednesday to make the announcement. President Obama will be joined by current Federal Reserve Chairman Ben Bernanke and Yellen." (10/09/13)

http://tinyurl.com/p4pxfor  

No Comments »

End the Fed?

March 26, 2013
posted by

Daily Anarchist Daily Anarchist
by Christopher Zimny  

"Directly ending the Federal Reserve System through legislation is the wrong goal, both morally and practically, for those who oppose the Fed. Rather, we should be concerned with abolishing the legal tender laws that largely force us to use Federal Reserve notes. If this is achieved, the Fed will collapse under its own weight, for the Fed note could not hope to stand up to competition with sounder currencies in the free market." (03/24/13)

http://dailyanarchist.com/2013/03/24/end-the-fed/  

No Comments »

Bernanke seen keeping up pace of QE until fourth quarter

March 20, 2013
posted by

Bloomberg    

"Chairman Ben S. Bernanke will probably start reducing the Federal Reserve’s $85 billion in monthly bond buying no earlier than the fourth quarter of 2013, economists said in a Bloomberg survey. The Fed chief will probably halt the unprecedented easing in the first half of next year after expanding central bank assets to a record of about $4 trillion, according to median estimates by 46 economists surveyed March 13-18 before a two-day meeting of policy makers ending today." (03/20/13)

http://tinyurl.com/bproocc  

No Comments »

The Federal Reserve’s first century

February 20, 2013
posted by

Randall Holcombe Independent Institute
by Randall Holcombe  

"One factor often cited as contributing to the decline of the Roman Empire was the debasement of the currency. In a period of about 150 years following Emperor Nero’s reign (from 54 to 68 AD) the value of Rome’s currency fell by 50%. By 250 AD, 200 years after Nero, the value of Rome’s currency was only 5% of its value two centuries before. The Federal Reserve Bank (Fed), founded in 1913 and now in its centennial year, controls the value of the US dollar. The currency debasement in the Roman Empire looks positively tame compared to what the Fed has done to the value of the dollar." (02/19/13)

http://tinyurl.com/aaetwee  

No Comments »

Fed undertakes QE3 with $40 billion per month mortgage debt purchases

September 13, 2012
posted by

San Francisco Chronicle    

"The Federal Reserve said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing as it seeks to boost growth and reduce unemployment. ... [Fed Chairman Ben] Bernanke said the open-ended purchases would continue until the labor market improved significantly." (09/13/12)

http://bit.ly/RV8HIp  

No Comments »

Fed moves toward open-ended bond purchases to satisfy Bernanke

September 3, 2012
posted by

Bloomberg    

"Federal Reserve Chairman Ben S. Bernanke says the U.S. economy is 'far from satisfactory.' His colleagues are moving to embrace policies that will stay in place until he’s satisfied. Four Fed presidents have come out in favor of an open-ended strategy for bond buying, with three calling for the program to begin now. Rather than specify a fixed amount of bonds to purchase by a certain date, such a strategy would leave the Fed able to announce a pace of purchases that it could adjust as the economy gets closer to Bernanke’s goals." (09/02/12)

http://bloom.bg/Q0IWTQ  

No Comments »

The ultimate disorganizing organization

May 9, 2012
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Peter G. Klein  

"Ironically, though economics clearly teaches the impossibility of efficient resource allocation under centralized economic planning, as demonstrated (theoretically) in the 1920s and 1930s by economists such as Ludwig von Mises and F.A. Hayek, and (empirically) by the universally recognized failure of centrally planned economies throughout the 20th century, many people think that the monetary system is an exception to the general principle that that free markets are superior to central planning." (05/09/12)

http://mises.org/daily/6040/The-Ultimate-Disorganizing-Organization  

No Comments »

The Fed: The keeper of monopoly

March 18, 2012
posted by

C4SS Center for a Stateless Society
by David D'Amato  

"The essential role of the Fed, both within the banking sector and the economy more generally, is to insulate an oligopoly status quo, a small cabal of banks able to claim unfair tolls on economic activity. This state of affairs is what nineteenth century anarchist Benjamin Tucker called the 'money monopoly.' That money monopoly saturates every defining aspect of the American capitalism passed off by its advocates as 'free enterprise.'" (03/15/12)

http://c4ss.org/content/9915  

No Comments »

Bernanke: Fed to make bank rules clearer

March 14, 2012
posted by

Reuters    

"The Federal Reserve will try to make it clearer whether new banking rules apply to small lenders, Federal Reserve Chairman Ben Bernanke said in remarks on Wednesday. Bernanke said the goal is to prevent community banks from wasting time and money trying to figure out if a new regulation applies to them." (03/14/12)

http://tinyurl.com/73yaj73  

No Comments »

The mystery of Bernanke solved

February 19, 2012
posted by

EconLog EconLog
by Bryan Caplan  

"Ben Bernanke was my teacher, and a major influence on my macroeconomic thinking. When he became Fed chairman, I expected the best of him. I was sorely disappointed. His behavior as Fed chairman seemed utterly disconnected from his lectures and writing. In 2008, I kept wondering why he backed the madness of TARP instead of following his own long-standing prescriptions." (02/18/12)

http://econlog.econlib.org/archives/2012/02/the_mystery_of_2.html  

No Comments »

Marshmallows and the Federal Reserve

February 19, 2012
posted by

Downsize DC Downsize DC
by James Wilson  

"Obviously, self-control is important. But we can't dismiss two factors in the experiment that are less certain in real life. Namely, security and trust." (02/16/12)

http://bit.ly/xJQlZ9  

No Comments »

Fed pledges low interest through 2014, floats new “easing” trial balloon

January 25, 2012
posted by

Bloomberg    

"Chairman Ben S. Bernanke said the Federal Reserve is considering additional asset purchases to boost growth after extending its pledge to keep interest rates low through at least late 2014. ... In a separate statement of its long-range goals and strategy, the FOMC specified a 2 percent goal for inflation, as measured by the annual change in the price index for personal consumption expenditures." (01/25/12)

http://bloom.bg/yUDgck  

No Comments »

The Fed as a criminal organization

January 23, 2012
posted by

LewRockwell.com
by Walter Block  

"I regard the Fed as a criminal organization, since it engages in (well, aids and abets) counterfeiting. The Fed is to the U.S. economy as was the old central planning apparatus of the late and non-lamented Soviet Union to the entire economy of the U.S.S.R. The Federal Reserve System has been responsible since its inception in 1913 for destroying some 97% of the value of our dollar, the life blood of our economy." (01/23/12)

http://lewrockwell.com/block/block196.html  

No Comments »

Our Sponsors



Making a living off your Drupal site?

Drupal Managed Hosting

Fed up with Maintenance and Hosting companies?