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UPDATE: Fed Chair Yellen is testifying live on CNBC now. (9:34 am, 2/11/16)
Posted on 2/10/16 at 9:20 am
Posted on 2/10/16 at 9:20 am
Take 3 NoDoz and listen in....
"..recent conditions have become less favorable for growth..."
ETA: She's now appearing before the Senate committee.
"..recent conditions have become less favorable for growth..."
ETA: She's now appearing before the Senate committee.
This post was edited on 2/11/16 at 9:36 am
12
Posted on 2/10/16 at 9:22 am to LSURussian
"...raw materials demand has decreased, may impact U.S. growth, especially exports..."
This post was edited on 2/10/16 at 9:22 am
Posted on 2/10/16 at 9:23 am to LSURussian
"...inflation is expected to increase gradually to 2% over the medium term..."
Posted on 2/10/16 at 9:24 am to LSURussian
Prepare for markets to crash in 3, 2, 1
Posted on 2/10/16 at 9:27 am to LSURussian
"...overall monetary policy remains accommodative with gradual increases in the federal funds rate...."
This post was edited on 2/10/16 at 9:28 am
Posted on 2/10/16 at 9:28 am to WPBTiger
quote:
Prepare for markets to crash in 3, 2, 1
DJ 30 Industrials is up 132 points....
Posted on 2/10/16 at 9:30 am to LSURussian
Two congressman just dozed off and fell out of their chairs...
j/k
j/k
Posted on 2/10/16 at 9:33 am to LSURussian
First question to her is about the bill to open the Fed's monetary decision process to congressional review.
The "question" was more of a speech than than a question. Speech continues....blah, blah, blah....
Dow Jones up 182 points.
The "question" was more of a speech than than a question. Speech continues....blah, blah, blah....
Dow Jones up 182 points.
Posted on 2/10/16 at 9:42 am to LSURussian
quote:
Dow Jones up 182 points.
Preach Janet, preach!
Posted on 2/10/16 at 9:43 am to OnTheBrink
DJ now up 108 points.
Posted on 2/10/16 at 9:45 am to LSURussian
quote:
DJ now up 108 points.
Posted on 2/10/16 at 9:49 am to LSURussian
A congressman with ashes on his forehead is asking a question about the Fed's authority to pay interest on banks reserves held at the Fed. Is it an unnecessary 'subsidy' for banks?
The authority to pay interest on reserves was granted in a law passed by congress during the 'Great Recession.'
Yellen tried answering his question, he keeps interrupting her. Never got an answer because he kept wanting to give a speech.
Dow Jones up 111 points.
The authority to pay interest on reserves was granted in a law passed by congress during the 'Great Recession.'
Yellen tried answering his question, he keeps interrupting her. Never got an answer because he kept wanting to give a speech.
Dow Jones up 111 points.
This post was edited on 2/10/16 at 9:50 am
Posted on 2/10/16 at 9:58 am to LSURussian
Question: "Does the Federal Reserve have the legal authority to implement negative interest rates?"
Her answer: "Our legal advisers say it is an open question at this point."
Question: "Does the Fed need a bill to authorize negative rates?"
Answer: "We don't know at this point."
Her answer: "Our legal advisers say it is an open question at this point."
Question: "Does the Fed need a bill to authorize negative rates?"
Answer: "We don't know at this point."
Posted on 2/10/16 at 10:01 am to LSURussian
Question: "There have been reports the Fed has recently forced some banks to change the membership of their board of directors. Is that a legal authority of the Federal Reserve? Is is an appropriate authority?"
Her answer: "Yes and yes."
DJ up 78 points.
Her answer: "Yes and yes."
DJ up 78 points.
Posted on 2/10/16 at 10:03 am to LSURussian
A clueless congresswoman (is that redundant?) read a question prepared for her about international economic conditions and "turmoil in international markets".
Yellen answered her question in some detail causing the congresswoman's eyes to glaze over.....
Yellen answered her question in some detail causing the congresswoman's eyes to glaze over.....
Posted on 2/10/16 at 10:07 am to LSURussian
The same congresswoman followed up with a question about falling oil prices. Seemed to imply the Fed should do something about it.
Yellen talked about the effect of falling oil prices is having on inflation.
Yellen talked about the effect of falling oil prices is having on inflation.
Posted on 2/10/16 at 10:08 am to LSURussian
CNBC just cut away from Yellen's testimony.
DJ up 49 points.
DJ up 49 points.
Posted on 2/10/16 at 10:09 am to LSURussian
Damn I missed it. Thanks for the highlights russian 
Posted on 2/10/16 at 10:11 am to LSURussian
CNBC just went back to Yellen's appearance.
Question about distressed borrowers by a congressman who appears to be taking a very adversarial attitude. I'm not sure what the question is about since he was joined in progress. Something about what is the appropriate interest rates banks should charge distressed borrowers as provided by Dodd-Franks.
DJ up 34 points.
Question about distressed borrowers by a congressman who appears to be taking a very adversarial attitude. I'm not sure what the question is about since he was joined in progress. Something about what is the appropriate interest rates banks should charge distressed borrowers as provided by Dodd-Franks.
DJ up 34 points.
Posted on 2/10/16 at 10:12 am to Bernie_Madoff
quote:
Damn I missed it.
quote:You have a TV in your cell??
Bernie_Madoff
quote:
Thanks for the highlights russian
This post was edited on 2/10/16 at 10:14 am
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