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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 by LSURussian
Member since Feb 2005
127260 posts
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.
This post was edited on 2/11/16 at 9:36 am
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/10/16 at 9:22 am to
"...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 by WPBTiger
Parts Unknown
Member since Nov 2011
31476 posts
Posted on 2/10/16 at 9:24 am to
Prepare for markets to crash in 3, 2, 1
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/10/16 at 9:30 am to
Two congressman just dozed off and fell out of their chairs...







j/k
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/10/16 at 9:33 am to
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.
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/10/16 at 9:58 am to
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."
Posted by TigerDeBaiter
Member since Dec 2010
10275 posts
Posted on 2/10/16 at 11:14 am to
quote:

LSURussian
Nice Recap, Thanks

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 by CherryGarciaMan
Sugar Magnolia
Member since Aug 2012
2497 posts
Posted on 2/10/16 at 12:25 pm to
Thanks for the review
Posted by beaverfever
Little Rock
Member since Jan 2008
32869 posts
Posted on 2/10/16 at 3:37 pm to
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 by ItNeverRains
37069
Member since Oct 2007
25917 posts
Posted on 2/10/16 at 5:22 pm to
"Yes, we artificially inflated stock market to raise the prime rate .25 because we thought we had to"
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/11/16 at 9:40 am to
Bump to highlight her appearance today before the senate committee.

So far, nothing new from her testimony yesterday before the house committee.
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/11/16 at 10:04 am to
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
This post was edited on 2/11/16 at 10:07 am
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 2/11/16 at 10:50 am to
The only buzz word this senator knows is "cost benefit analysis."

He's repeated it more times than Marco Rubio would have.....
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