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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 11:14 am to LSURussian
Posted on 2/10/16 at 11:14 am to LSURussian
quote:Nice Recap, Thanks
LSURussian
I missed it, though, it appears much the same blanket statements. Which is probably good.
Did she try and call the bottom of oil again?
Posted on 2/10/16 at 11:21 am to TigerDeBaiter
This frickin guy.
Needs to go to the mental hospital
Needs to go to the mental hospital
Posted on 2/10/16 at 11:28 am to TigerDeBaiter
quote:Nope but she was asked about her forecast on oil prices that she made months ago. She probably learned her lesson.
Did she try and call the bottom of oil again?
__________________________
Now another question from a black congresswoman about 'subsidies' for "big banks" because the Fed is paying interest on bank reserves with the Fed while blacks can't find work. What is the Fed going to do about that?
Yellen gave a lesson how rates are managed by the Fed and how the Fed's "profits" are returned to the U.S. Treasury for congress to spend. "If we don't pay interest on reserves, we will see a rapid shrinking of the Fed's balance sheet which will have a negative effect on the economy due to rising interest rates."
The congresswoman basically admitted she didn't understand Yellen's answer and then went into a diatribe about black unemployment. The committee chair cut her off because her time had expired.
DJ is up 34 points.
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