re: UPDATE: Fed Chair Yellen is testifying live on CNBC now. (9:34 am, 2/11/16)

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.

My big takeaway is that nobody in that room besides Yellen knows what the frick they are talking about

Thanks for the review

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.

"Yes, we artificially inflated stock market to raise the prime rate .25 because we thought we had to"

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.

In

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.

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

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.