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Started By
Message
re: Let's talk the Federal Reserve a little further
Posted on 12/19/18 at 2:58 pm to TDFreak
Posted on 12/19/18 at 2:58 pm to TDFreak
quote:
The Fed's main purpose of controlling the bank lending rate is to curb inflation
Its full employment and to curb inflation. We have full employment, and inflation is close to 3%. The fed target inflation rate is 2%. It makes sense to raise rates.
quote:
energy prices dropping
Energy prices are excluded from the fed inflation target, as they are volatile.
quote:
market taking big lumps
not relevant to inflation or the fed's charter
quote:
does anyone really believe our economy is overheating?
You slowly raise rates for a soft landing and avoid inflation or hard landing.
1
Posted on 12/19/18 at 3:01 pm to Powerman
I'm just pointing out we're not in some obvious recession
Yet
Yet
Posted on 12/19/18 at 3:05 pm to EllisD
quote:They are all tied in the number of shares they own.........ONE.
2015 List of member banks.
who owns the most shares?
To become a member bank in the Fed a bank has to deposit an amount equal to 3% its capital with its regional Fed bank. (There are 12 Fed regional banks spread across the country.) That deposit equates to owning a share in the "local" Federal Reserve bank and allows the member bank to access the Fed's services, such as the discount window, processing and clearing checks, wire transfer, currency supply operations and government bond transfer and settlement services.
The Fed pays the member banks .5% interest monthly on the amount of capital deposited from the banks.
Member banks do not receive a share of the Fed's profits. 100% of its profits, by law, must be turned over the U.S. Treasury annually.
Posted on 12/19/18 at 3:13 pm to LSURussian
how are the board members for the regional banks selected?
Posted on 12/19/18 at 3:22 pm to EllisD
Do you have access to the internet?
I'm sure all of your questions can be answered by reading the Federal Reserve's website.
Here you go....
I'm sure all of your questions can be answered by reading the Federal Reserve's website.
Here you go....
Posted on 12/19/18 at 3:28 pm to LSURussian
Too much power in too few hands. Abolish it. We don't need those unelected chuckleheads picking winners and losers.
This post was edited on 12/19/18 at 3:29 pm
Posted on 12/19/18 at 3:32 pm to antibarner
quote:How do they go about doing that?
We don't need those unelected chuckleheads picking winners and losers.
I'm genuinely curious what the process is for the Federal Reserve Board to choose who wins and who loses.
Posted on 12/19/18 at 3:33 pm to LSURussian
quote:
100% of its profits
As calculated by the Fed. Wonder why the Fed is resistant to being audited.
Posted on 12/19/18 at 3:40 pm to LazloHollyfeld
quote:
resistant to being audited
Would "frick off...never gonna happen" be considered resistant? Lol
Posted on 12/19/18 at 3:42 pm to antibarner
quote:
Too much power in too few hands. Abolish it. We don't need those unelected chuckleheads picking winners and losers.
Those board members are only doing what they are told to do.
Those board members are just puppets.
Posted on 12/19/18 at 3:44 pm to LazloHollyfeld
quote:
Wonder why the Fed is resistant to being audited.
The Fed is audited. Russian posted a link to last year's annual report, which is available here.
Posted on 12/19/18 at 3:45 pm to LazloHollyfeld
quote:
Wonder why the Fed is resistant to being audited.
Posted on 12/19/18 at 3:46 pm to Mo Jeaux
Some tin foil hat wearing kids in here.
Posted on 12/19/18 at 3:58 pm to Mo Jeaux
quote:
The Fed is audited
On a limited basis. Check out 31 USC 714(b) for the operations of the Fed cannot be audited by law:
(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Board and Federal reserve banks may not include—
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
Posted on 12/19/18 at 3:59 pm to brian_wilson
quote:
Its full employment and to curb inflation. We have full employment, and inflation is close to 3%
It's 2.2%.
quote:
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in November on a seasonally adjusted basis after rising 0.3 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.2 percent before seasonal adjustment.
Inflation is not out of hand.
LINK
Posted on 12/19/18 at 3:59 pm to Janky
Tin foil eh? Do you deny that they propped up Obama? Because if you do you're kidding yourself.
Posted on 12/19/18 at 4:01 pm to CamdenTiger
quote:
Yet
Right. Eventually we'll have another recession. But that time isn't now which makes the entire premise of the OP completely stupid.
Posted on 12/19/18 at 4:02 pm to LazloHollyfeld
quote:
As calculated by the Fed
man you know bernke was skimming those profits like a fatrat and i ain't even mad
Posted on 12/19/18 at 4:02 pm to antibarner
quote:
Too much power in too few hands. Abolish it. We don't need those unelected chuckleheads picking winners and losers.
We certainly don't want the elected officials doing it
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