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re: UPDATE: Fed Chair Yellen is testifying live on CNBC now. (9:34 am, 2/11/16)
Posted on 2/10/16 at 12:10 pm to Bernie_Madoff
Posted on 2/10/16 at 12:10 pm to Bernie_Madoff
Double post.
This post was edited on 2/10/16 at 12:12 pm
Posted on 2/10/16 at 12:12 pm to LSURussian
quote:
But I think the congressman meant that market is a $1.2 TRILLION not $1.2 billion market.
I was thinking to myself there's no way the CLO market is that small. I'm glad somebody else heard that.
Posted on 2/10/16 at 12:14 pm to TigerDeBaiter
quote:Probably one of her myriad of staff members who handles the nitty gritty operational details of budgeting and organization chart structure of the Fed.
Who does she keep looking to?
Or, her legal counsel who's there to prevent her from committing the Fed to something that would set an unfavorable legal precedent.
Posted on 2/10/16 at 12:17 pm to LSURussian
My big takeaway is that nobody in that room besides Yellen knows what the frick they are talking about
Posted on 2/10/16 at 12:19 pm to Bernie_Madoff
quote:
My big takeaway is that nobody in that room besides Yellen knows what the frick they are talking about
And the committee is adjourned.....
We now return you to your regularly scheduled program so the CNBC talking heads can now spend time telling us what we just heard.....
Posted on 2/10/16 at 12:58 pm to CherryGarciaMan
ETA: Dow Jones up 28 points.
This post was edited on 2/10/16 at 1:19 pm
Posted on 2/10/16 at 1:02 pm to LSURussian
The last time she testified before congress the only thing I learned was that watching it was a waste of time. Although, I will admit there is some entertain value. And, this is not meant to be a knock on her.
Posted on 2/10/16 at 3:37 pm to LSURussian
If I were Yellen it'd be hard for me to not completely tee off on the idiots at these hearings. Most of the people asking questions have no business being in a meeting with her. They don't understand econ 101 much less the intricacies of the Federal Reserve.
This post was edited on 2/10/16 at 3:38 pm
Posted on 2/10/16 at 5:22 pm to LSURussian
"Yes, we artificially inflated stock market to raise the prime rate .25 because we thought we had to"
Posted on 2/10/16 at 6:17 pm to ItNeverRains
I came home after lunch today, and for s&g flipped between all of the business channels. Some older guy, and I don't remember who, said part of her job is to act as cheerleader, and part of her job is to be decisive. She has failed at both. Although the second point is disingenuous.
Not that it matters, but for whatever reason I took a dislike to her early on, actually before she became Fed Chair. So I guess the above is as good of a reason as any, albeit not very logical.
Everyone talks about laissez faire (well, no one ever really uses this exact term), but when push comes to shove, the vast majority were for the bank bailouts, and probably had no opinion on keeping interest rates low for as long as they have been. I had really thought a sharp, short depression to clear up some things would have been a good thing. And I just can't help but think the extended period of low interest rates will not be at least partially responsible for the next asset bubble, whatever and whenever it ends up being.
If I could have ever reconciled some of Ron Paul's more extreme views, I probably would have supported him. He always had some very practical, and very sound economic points.
Not that it matters, but for whatever reason I took a dislike to her early on, actually before she became Fed Chair. So I guess the above is as good of a reason as any, albeit not very logical.
Everyone talks about laissez faire (well, no one ever really uses this exact term), but when push comes to shove, the vast majority were for the bank bailouts, and probably had no opinion on keeping interest rates low for as long as they have been. I had really thought a sharp, short depression to clear up some things would have been a good thing. And I just can't help but think the extended period of low interest rates will not be at least partially responsible for the next asset bubble, whatever and whenever it ends up being.
If I could have ever reconciled some of Ron Paul's more extreme views, I probably would have supported him. He always had some very practical, and very sound economic points.
Posted on 2/11/16 at 9:40 am to LSURussian
Bump to highlight her appearance today before the senate committee.
So far, nothing new from her testimony yesterday before the house committee.
So far, nothing new from her testimony yesterday before the house committee.
Posted on 2/11/16 at 9:53 am to Bernie_Madoff
So far there is a marked improvement in the questions she's being asked. Questions of substance rather than just political speeches.
Posted on 2/11/16 at 9:55 am to LSURussian
Good. I heard Crapo's name. He was my senator in Idaho so I'm glad he didn't embarrass himself like the California congressmen yesterday.
Posted on 2/11/16 at 10:03 am to Bernie_Madoff
They keep referring to the Fed's SiFi system.
I had to look it up.
I had to look it up.
Posted on 2/11/16 at 10:04 am to LSURussian
Here we go......Corker asking about the Fed implementing negative rates.
ETA: "We looked at negative rates in 2010 and concluded it would not be an effective way of stimulating the economy." - Yellen
ETA: "We looked at negative rates in 2010 and concluded it would not be an effective way of stimulating the economy." - Yellen
This post was edited on 2/11/16 at 10:07 am
Posted on 2/11/16 at 10:07 am to LSURussian
quote:
So far there is a marked improvement in the questions she's being asked.
As a whole, the Senate has much brighter individuals. Having to run state wide cuts down on winners that pander to a group that could have majority in a Congressional district.
Posted on 2/11/16 at 10:12 am to LSURussian
quote:
Here we go......Corker asking about the Fed implementing negative rates.
I think the guy bringing up stunted productivity is spot on. These senators are clearly the A team on this committee.
Posted on 2/11/16 at 10:12 am to LSU0358
Agreed.
"We recognize that while there has been a significant number of new jobs created during the recovery, the vast majority of those new jobs have been low paying ones." - Yellen
"We recognize that while there has been a significant number of new jobs created during the recovery, the vast majority of those new jobs have been low paying ones." - Yellen
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